AWAKEN. YOU'RE LIVING THROUGH THE GREAT GLOBAL DEPRESSION. IT'S HERE, WORLDWIDE. I BET YOU DIDN'T KNOW IT.

The U.S. economy has yet to leave depression. Current dollar GDP is meaningless.

"Real" GDP is meaningless as well since to calculate it, government statisticians use an average ("the chain") of successive inflated current dollar GDPs to deflate the latest GDP. How is it possible to deflate something inflated by something else already inflated?

There are 69.8% more dollars in circulation today, August, 2015, than in June, 2008! That is what quantitative easing does. QE has papered over the ongoing losses.

Quantitative Easing means increasing negotiable bank credit in circulation — cash and checkable deposits so as to trick the public into believing the economy is growing through rising sticker prices expressed in current dollars.

Quantitative Easing works. QE has papered over the massive credit deflation undergone at banks. QE has papered over the Greatest Depression.

That is its purpose. QE is not intended to spur on an economy.


Current Dollars in Circulation from the Federal Reserve

Look at the angle of the curve from June, 2008. It started to bend toward vertical, which means growth has been moving toward infinite.

This is what US GDP looks like in True Dollars™ terms rather than bogus current dollars or the equally bogus real dollars:






My chart is the only accurate chart on US GDP produced by anyone, the earth over, as are all my GDP charts and every other chart I produce. Unless someone has a standard yardstick that can't grow or shrink, that one can't get an accurate measure.

Look at my chart closely. My chart conforms to everyone's experiences through the years precisely. No other GDP chart on earth can do that.

Because I use an invariant standard that conforms to scientific knowledge about commercial banking, my measures are accurate and reflect commercial reality. No one else on earth can make this claim, unless he or she were to copy my method.

In true terms measured in True Dollars™ rather than measured in current dollars or the equally fake "real GDP" terms — as that uses already-inflated averaged current dollar terms over successive periods as the deflator — the economy has shrunk in almost every quarter since hitting a peak in 2007.

Americans don't see this precisely because QE has papered over reality. Current dollar prices including wages are up. So Americans believe they have been living through a recovery and an advance when they have not in reality.

Americans think in current dollars. They don't think in buying power terms.
When credit falls, the economy must shrink.

The US economy has yet to leave the Greatest Depression.

I track GDP for 40 countries in True Dollars™ terms. Those 40 countries comprise 86.6% of World GDP. The world is in serious economic depression.

The top 15 countries comprise 75% of world GDP. In True Dollars™, which is the only way you can get accurate true GDP, quarter-over-quarter

• Australia is down -11.4%
• Brazil is down -8.9%
• Canada is down -4.4%
• China is down -1.0%
• France is down -9.0%
• Germany is down -8.7%
• India is down -2.1%
• Italy is down -9.3%
• Japan is down -3.6% [Japan hasn't stopped falling since 30-June 1995! It's now down almost -74% since then ]
• Mexico is down -2.9%
• Russia is down an eye-popping -39.4% owing to sanctions.
• Spain is down -8.7%
• The UK is down -7.5%
• The USA is -1.5%

The notable bright spot is Korea, up 0.4%

I'll share a link to these charts as well as my True Dollars™ price guides for ETFs, which show which ETFs are rising fastest over designated periods as soon as my server comes up. My ETF price guides are indispensable for anyone who speculates with ETFs.

As my ETF price guides are merely that, the guides do not constitute advice of any kind as to what to buy or to sell. Such decisions are the both the legal and technical responsibilities of those speculating.

That said, having my True Dollars™ ETF Price Guides likely is the closest anyone can ever get to having a crystal ball. It's like insurance so cheap that you don't need to question the pittance to acquire one.

The charts above for the USA are what the charts look like for the 40 countries I track and for which I produce GDP in True Dollars™

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DON'T CRY TO ME ARGENTINA

Argentines. Can they be trusted? Since 1800, various leaders of Argentina have stiffed creditors eight times through sovereign bond defaults.

Argentine politicians put Argentinians on the hook for $29 billion. And because other politicians stiffed past bond holders, current Argentine politicians had to sell bonds through New York bond dealers and thus become beholden to security laws of the State of New York.

Now, $29 billion seems like much bank credit denominated in bank cash (as it isn't money). However, let's get perspective.

Recently, Comcast acquired Time Warner Cable for $67.6 billion or 2.33 times as much. Back in 1998, when the dollar bought much more, Exxon bought Mobil for $80.3 billion or 2.76 times as much.

In 2000, AOL, those pesky people who sent countless CD-ROMs for us to use as drink coasters, bought Time Warner for a whopping $186.2 billion or 6.42 times as much as what Argentine politicians have put their people on the hook to pay.

Thirteen years ago Argentine politicians stiffed the world for $95 billion or 3.3 times as much as they desire to stiff today's bond holders.

So what happened to the all of that bank credit Argentine politicians borrowed? Upon whom did they blow those credits? What did they buy?

Likely, Argentine pols squandered those bank credits on salaries for themselves, for meddling bureaucrats and on welfare benefits to bribe citizens for votes rather than invest in commercial infrastructure while reducing the involvement of politicians and bureaucrats in the Argentine economy. Well, if all else fails, sitting president Cristina Fernández de Kirchner can wage a Guerra Sucia using Eva Peron like appeals.

It's the same old story being played again. When will the man and the woman on the street awaken to reality?

In their presence, politicians alone create the rules by which economy arises. When circumstances go against the people, it's because of politicians and not because of commerce, competition, and markets.



As I have said often over the years, government is mafia with better public relations.



For a look at the biggest acquisition deals of all-time, check out Bloomberg here.

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WOULD YOU BELIEVE 2 OF 10 THE EARTH OVER LOG INTO FACEBOOK EACH MONTH? I DON'T.

I stumbled upon more public stupidity today, this time, over at Venture Beat. Writer Jordan Novet parroted a claim that "Facebook ... now boasts 1.28 billion monthly active users." 

Right now, the U.S. Census Bureau estimates there are 7.175 billion on the earth. If Facebook had 1.28 billion monthly active users, that would be almost two of every 10 on earth were logging into Facebook to show off pictures and brag about their summer vacations paid with HELOCs.

Do you believe that 2 of every 10 living in India checked into their non-existent Facebook account today with the computer or smartphone they don't own and the Internet access that doesn't exist?

Do you believe that 2 of every 10 living in western China checked in last week?  Do you believe that 2 of every 10 living in the many countries of Africa checked in only this morning? How about those tribal ones living in the jungles of Brazil or maybe Papua New Guinea, did 2 of 10 of them check into their Facebook account to write a timeline update the other day?

According to SocialBakers, about 4% of Africans used Facebook at all in 2013. Africans constitute 15% of the world, or roughly 1.5 in 10, which when rounded to a whole person is 2 in 10. So 4% of Facebook-using Africans would count up to a puny 4 in 100. 

So where are those 16 Africans supposedly using Facebook?

SocialBakers also reports 247.7 million Asians using Facebook. That comes to 5.7% of all Asians. Said another way, that is 6 out of every 100. So where are the missing 14 Asians supposedly using Facebook?

Asians comprise 60% of world population. Together, Asians and Africans comprise 75% of world population. 

Using numbers from SocialBakers and Wikipedia already cited, total Facebook users constitute 12.7% of world population. That comes to 13 in 100 or roughly 1 in 10. And while that seems impressive, again, how many of those accounts never fire up a view on Facebook but only use Facebook to log into other web sites?

A reasonable estimate would be closer to 138.1 million log ins monthly with about 75% of those logging in to use Facebook credentials elsewhere. Even that might be outrageously high.

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PRICES HAVE BEEN FALLING FOR YEARS! INFLATION? MAJOR DEFLATION HAS BEEN UNDERWAY SINCE 2007. SO WHY DOES LIFE SEEM HARDER? THE ANSWERS ARE COMING NEO.

In THE CONSUMER PRICE INDEX NEVER HAS MEASURED INFLATION, EVER. CLAIMING SO HAS BEEN A EPIC CON JOB, I show how the  "the most widely used measure of inflation," the Consumer Price Index (CPI), fails to measure inflation precisely because those behind it measure prices and not inflation. 

The worst is the jokers at the BLS who conjure the CPI measure current inflated prices by a base of past inflated prices. Stop. Think about that for a moment.

With their failed method, they cannot eliminate the effects of inflation. In short, the CPI is bunco.

Milton Friedman was a famed economist, popular writer and winner of the Nobel Prize in Economics back in 1976. Friedman is famous in egghead circles for having said:

"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output." 

Edwin Walter Kemmerer was a famed economist, a man known as "the money doctor." Kemmerer said this about inflation:

Friedman and Kemmerer point the way. Here is the Red Pill that you must swallow if you want to free yourself from the silly, false belief of rising prices means inflation. 

You must come to see that you do not have money. No one does. 

Instead, you have Federal Reserve Bank Units (FRBUs), or if you like better, Federal Reserve Buying Units. FRBUs are what pay for goods. All goods get priced in FRBUs. 

Money is coined metal by weight and fineness. Always, money can exist without banking and government. Cash only can exist with banking and banks. Legal tender cash needs banking backed by the force of government.

In the fiduciary monetary system of centralized bank notes, inflation is merely the growth of the circulating media — cash, which is evidence of past deposits circulating in perpetuity and bank credit in the form of checkable deposits transferred by bank instruments such as checks and debit cards.

Thus, to know reality and escape the Matrix requires you to account for inflation by FRBUs and by no other way. The FRBU deflator is our red pill to see reality. 

INFLATION FIRST, THEN DEFLATION ALWAYS. 

Inflation happened already. That is what led to the banking crisis of 2008.

The damaging effects of inflation become revealed when the growth of credit outstrips the growth of output owing to credit being priced too cheap. Banking crises always happen at peak inflation right in the midst of prosperity.

Have a look at true credit and true GDP.

Since 2008, true bank credit has been falling. True GDP has fallen right along with the fall in bank credit. The fall of bank credit means deflation has been underway. 

True bank credit is down -43.4% from peak credit at the start of Q2, 2008. True Credit has been falling at an annualized rate of -9.1%.

True GDP has been falling and falling. True GDP is down -42.8% from the peak! True GDP has been falling at an annualized rate of -8.9%!

That's a trade depression. Look at it. I call it the Greatest Depression.

AND FALLING PRICES, IT'S TRUE

So let's have a look at true prices, shall we? Prices have been falling for decades since before peak credit. 

Say what?! Yes, it's true. Once the effects of accretion of FRBUs get removed using the FRBU deflator, we get true, inflation-free prices. 

First let's look at food and energy.

It's no wonder chief bankers at the Federal Reserve exclude food and energy from their watch. Yet, always, you hear many decry that your friendly neighborhood Fed Res bankers ignore food and energy prices.

Now, let's look at house prices. 

House prices went on quite the roller coaster ride between 1980 and 2013. Yet, the average price for a house today is lower than in 1980 by 36%! 

Interestingly, the average house price to income has averaged $6.63. The 2012 ratio of $6.44 is under 3% from the average.

Yet, there is a fly in the ointment, which I shall get to soon, the fly on the wall that explains why you suffer.

But first, here is the ugliness that many Americans understand. Tuition prices have risen a whopping 85% since 1980!

WHY MISERY IF PRICES ARE FALLING?

So why do Americans feel so miserable and claim to be broken financially? Well, there is good reason for that too.

A wage is a price and as all prices have been falling, so too have wages fallen.




The average wage has fallen 41% since 1980!




So why have true wages fallen? All should heed my dictum:

Labor makes property. Capital makes property efficiently.

THE CHART SOCIALISTS AND POLITICIANS DON'T WANT YOU TO SEE

True wages have fallen in lockstep with true capital spending per capita of prime age working adults (25-54). Wages and capital are interlinked.

Trading wealth as property in cash and credit in a purchase and sale for wealth as property in things determines the extent of markets. Only in proportion as labor becomes pricier that it becomes profitable to use cheaper methods (capital) to amplify labor.

There are no means by which living standards can better that do not involve the increase in wealth per capita of prime age workers. Increasing returns to capital arise when true wages go up. To discover how to make increasing returns to capital is to solve the problems of poverty and lowering living standard. 

As can be seen here, the growth in prime age working adults in America has been tremendous, up 45.3% since 1980.





And not-so-coincidentally, wages have fallen 41% and capital spending has fallen 49.5%!





Born-again socialism revivalist preachers like Thomas Piketty who attack wealth simply do not understand trade and commercial life at all. 

Having more wealth is what makes all better off. More wealth comes from more efficient production. More efficient production comes from more capital.  More capital spending per worker raises wages. 

While the living standard in America has been falling, the living standard for Chinese has been rising. Why is that? There has been more capital spending per worker in China since the Chinese turned capitalist.

It's the same story everywhere.

Be sure to check out these:

• WHY IS THE ECONOMY SO HORRIBLE? BECAUSE ACADEMIA ECONOMICS IS FAKE.
• WORK NEVER CREATES VALUE. WORK CREATES PROPERTY.
• INFLATION REVEALED! "REAL GDP" AND FEDERAL RESERVE BANK UNITS.
• THE THEORY OF TRADING PROPERTY FOR PROFIT
• FALLACY FRAUGHT FORBES TRIES TO STOKE FEARS OF HYPERINFLATION

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REFERENDUMS ARE THE UKRAINIAN WAY! MAYBE IT'S TIME FOR REFERENDUMS FOR THOSE IN THE FAR WEST OF UKRAINE TO RETURN TO POLAND.

Hey, referendums are popular these days. Ukrainians of western Ukraine living in 
the oblasts of Volyn, Rivne, Lviv, Ivano-Frankivsk, Ternopil, Khmelnytskyi, Zakarpattia, Chernivtsi ought to consider their own referendums and separatist movements.

Considering how Ukrainians can't pay their nat gas bill to the Russians, maybe it is time to throw in the towel and let others better provide government for those Ukrainians living north and west of the Dnieper River.

• On March 5, 2004, the Economist asked, "Why is Ukraine’s economy in such a mess?"
• On May 1, 2014, BBC News asked, "Ukraine economy: How bad is the mess and can it be fixed?"
• On February 19, 2014, the IBTimes reported, "10 Things You Need To Know About Ukraine's Economy"

Ukrainians have made a mess of their country since becoming an independent country on December 1, 1991, by way of yes, you guessed it, referendum, which they held after the collapse of the former commie Soviet Union.

For almost the entire history of Europeans since the fall of Ancient Rome, Ukraine did not exist as a country. 

Ukraine did not emerge as a country until the Ukrainian War of Independence. That version of Ukraine lasted about as long as California lasted as part of Mexico. 

The geniuses in charge in the aftermath of World War II let Soviet Russians bully them into swiping away a good chunk of Poland, incorporating those chunks into Belarus, Ukraine, and Lithuania.

From 1466 to 1772, a good chunk of what constitutes the oblasts of the disintegrating Ukraine were part of Poland.

Basically, the Ukraine is a conjured up country by the former communists of the Soviet Union.

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☑CRIMEA. ☑ LUGANSK. ☑ DONETSK.

A barrage of foolery from many have labeled the people of Donetsk and Lugansk as insurgents. Insurgents?

The people of the former Ukraine living in the east aren't in rebellion. They're doing what is right, morally, for any and all the earth over. They are deciding upon by what rules they are willing to live together in peaceful society.

Right now, the only insurgents are those pretending to rule the former Ukraine, the so-called Euromaidan protesters, a junta who usurped power in a coup d'etat and who now are running a dictatorship without teeth. Right now, there isn't a legit government in the former Ukraine, a government elected by the people.

The people of Lugansk and Donetsk have held referendums to see if they would join the newly formed dictatorship in Kiev, the former capital of the former Ukraine. It appears the people of Lugansk and Donetsk have rejected doing so and have decided they shall have their own countries for now.

Of course, none of this would have happened if the geniuses of the EU and US political establishments had shown support for the legit government Ukrainians had Yanukovych as head of state. So why didn't the geniuses of the U.S. and the E.U. support Yanukovych? 

U.S. foreign policy ushered under Bush the First and carried on by Clinton, Bush the Second and Obama, has been abject failure. Americans have not been made safer from not toppling Saddam in the first Gulf War to toppling Saddam in the second, to failures in Afghanistan, Libya and Syria. 

The policy of seeing enemies in Asia and trying to encircle Russia and China has been a huge mistake. 

Had the U.S. embraced Russia and the former communist bloc countries, plowing the same spending as they pissed away on the Gulf wars and Afghanistan, Eurasia would be stable all together and hundreds of millions would have been lifted from poverty in Russia, eastern Europe, in the rest of Europe and even in the USA.

Yet, that would have created competition in marketplaces for goods and services, likely pushing down prices and increasing what is on offer. Though that would have lifted the living standard for working people everywhere, that would have decreased the living standard of those who would lose in games of free-market competition.

Many want to live fantasy island, but reality shows changing borders in eastern Europe. Self-determination is beautiful. War-mongering indoctrinated ones and mouthpieces of propaganda might not embrace it, but all should must face it.

Secession by Crimeans and secession by Russian-speakers in Donetsk and Lugansk emboldens Basque secessionists, Brittney secessionists, Scottish secessionists, Flemish secessionists, South Tyrolian secessionists and so on. 

This is the biggest fear of politicians. Politicians hate losing people. Smaller population means fewer people to tax.

The world would be far safer with a 1,000 countries than 193 or so.  When there are more countries, each with its own cash system and banking, banking focuses on funding local commerce and commerce leads to peaceful trade and rising living standards.

The EU with its NATO muscle is the biggest threat to freedom-seeking people of Europe. The EU needs to break up. The Eurozone needs to break up. A failure by the EU in the former Ukraine is a victory for peace-loving people the earth over.

On a side note, Viktor Yanukovych appears to be a hero to humanity in hindsight for his immense restraint by not subjugating under jackboots, the Euromaidan protesters and those who engaged in the coup d'etat and this in spite of Yanukovych being a despicable looter of Ukrainian taxpayers. Yet, Yanukovych seems to be on par with Obama who has forced Americans to pay millions for his luxury golf outings since 2009.

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WEST TEXAS INTERMEDIATE SPOT PRICE FOB CUSHING, OK IN GWDs

In PARTY OVER OOPS OUT OF TIME. YOU SHOULD HAVE PARTIED LIKE IT WAS 1999, I introduced the concept of the Reagan-Clinton Prosperity vs the Bush(2)-Obama Hard Times.

The average true price of a barrel (42-gallons) of Texas Light Sweet Benchmark  is almost two-fold during the Bush(2)-Obama Hard Times than the Reagan-Clinton Prosperity (1.90:1).

In INFLATION REVEALED! "REAL GDP" AND FEDERAL RESERVE BANK UNITS, I introduced FRBUs. FRBUs give the best measure of inflation since Nixon closed the gold window.

Federal Reserve Bank Units (FRBUs), or if you like better, Federal Reserve Buying Units are what circulate goods and services in the U.S.A. and elsewhere on earth.

De-stabilizing the Middle East has been costly.

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PUTIN'S RUSSIANS AREN'T MEDDLING IN UKRAINE BECAUSE OF OIL

So today, through Zero Hedge, I discovered Our Finite World a blog by Gail Tverberg with the tag line "exploring how oil limits affect the economy." 

In Russia and the Ukraine – The Worrisome Connection to World Oil and Gas Problems, Ms. Tverberg posits Russians are starting to experience economic contraction cause by these factors:

• a low revenue situation — Russians "are not receiving enough oil and gas revenue to meet their needs" 
• Russians "are not able to collect enough taxes to provide the services they have promised to their citizens"
• Russians are not receiving enough oil and gas revenue to pay "the amount of reinvestment that is needed to maintain production"

According to RIA Novosti, Russian politicians approved the draft budget for 2014-2016. Here is what it looks like:

• The budget basis on the Urals oil price of US$93 per barrel in 2014 and US$95 per barrel in 2015 and 2016.
• The 2014 budget deficit will stand at US$12.4 billion, 0.5 percent of GDP with US$428.6 billion in revenues and US$440.1 billion expenditures.
• The 2015 is expected deficit will more than double and stand at US$25.8 billion, 1 percent of GDP, with US$459.3 billion in revenue and US$485.2 billion in expenditures.  
• The 2016 budget deficit is expected to drop to US$15.3 billion, 0.6 percent of GDP with US$502.4 billion in revenues and US$517.7 billion in expenditures.

The current FY deficit for Americans is 4% of GDP ($680 billion FY deficit over $17 trillion GDP estimate)! That is 4 times more than the Russians in their expected worse year!

Right now, the Russian Export Blend Crude Oil (REBCO) futures end of day settlement price sits at $106.55.  The EIA claims the Russians export 2,600,307 million barrels a day. Assuming the spot REBCO price every day for a year, Russian oil sales over 365 days would be US$277.1 billion

According to Wikipedia, revenues in 2012 for Gazprom summed to US$164 billion, for Lukoil US$139 billion, for Rosneft, US$101.

Ms. Tverberg claims Russians as  "marginal producers" being pushed out. Yet, the EIA says Russians are in the top tier of producers pumping greater than 10 million barrels a day.

If prices were to fall for REBCO, for WTI, for Brent, it's likely the 204 countries producing less than a million a day would be the ones pushed out.  

The whole of trade gets governed by one, true, infrangible law and one axiom — the Law of Prices and the Axiom of Profit. The Law of Prices holds the winning bids of purchase and sale set the price. The Axiom of Profit holds the sum of sales must at least equal the cost of production otherwise a producer goes to run. 

By the Law of Prices, the price of whatever set by winning bidders dictate the expense which can get incurred to produce the last quantity of X whereby a producer does not fall to the Axiom of Profit. 

The numbers easily stack against Ms. Tverberg and her false thesis that Russians are being forced into a takeover of Ukraine because of oil and government finances in disarray. 

Ms. Tverberg believes the world is reaching limits on oil and gas production. Many fall for such fallacy.

Kent Bower doesn't believe the world is reaching its limits on oil and gas production. Bower actually works in natural gas and oil drilling and has for decades. Bower is the geologist who calculated that Texas’s Barnett Shale held more natural gas than government bureaucrats and others estimated. 

Bowker has said “It’s not as drastic as what people think. You listen to all the naysayers saying we’re running out of oil, we’re running out of gas, there’s not going to be anything left. We’re always running out of oil, we’re always running out of gas. But obviously that’s not the case.”

World oil output has grown 6% since 2009 alone. The people at the EIA say world oil output for 2013 ran to 32.97 BILLION barrels.

A far likelier reason is push back by Russians against U.S. political establishment policy of encirclement of Russia, Iran and China. Even bungling Obama has “pivoted” to Asia.

In short, U.S. leaders have pushed to get NATO forces and weapons systems as close to the border of Russia as they can. In so doing, it cuts down the distance needed to launch attack against Russians while lengthening the distance Russians must overcome to counterattack.


Putin and his team likely understand that if the U.S. and its proxies get to the Russian border, Russians get subordinated to a U.S. dollar / Euro regime.

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HISTORY REPEATS. THE 21ST CENTURY UKRAINIAN CIVIL WAR PLAYED OUT IN THE 17TH CENTURY

Many have claimed the current Civil War in the Ukraine, which I called back on March 1, 2014, in 21st CENTURY CRIMEAN WAR. OH, AND SARAH PALIN IS WRONG STILL isn't a civil war at all, but rather a "proxy war" between "East" and "West" also said between the USA and Russia. In short, they argue that because outside backers exist, there can't be a civil war.

There is a strong history of outside backers in the civil wars of others (see list below). Straight away, the Korean War (1950 – 1953) and the Vietnam War come to mind. 

Today's Ukrainian Civil war is quite reminiscent of one fought in the 1600s.  Back between 1648 and 1657 a Cossack uprising in the Ukraine turned into a liberation war from Poles and Lithuanians. Zaporozhian Cossacks turned to Crimean Tatars for help in their fight against Polish-Lithuanian Commonwealth armies and paramilitary forces, which today would be known as Polish tourists and Lithuanian tourists.

The uprising resulted in eastern Ukraine becoming incorporated into the Tsardom of Muscovy. Also known as the Tsardom of Russia, the Tsardom was the centralized Russian state from Ivan IV's assumption of the title of Tsar in 1547 until Peter the Great's foundation of the Russian Empire in 1721.

CIVIL WARS OR PROXY WARS?

American Revolutionary War (1775 to 1783)  

British nationals in America fight against British Army and Navy. British colonials get weapons and support from the French.

Portuguese Civil War (1828 to 1834) 

Parties included the Kingdom of Portugal, Portuguese rebels, the United Kingdom, France, the Church of Rome, and Spain.

New Zealand Wars (1845 to 1872)  

British troops backed New Zealand government against the Māori 

Mexican Revolution (1910 to 1920)

The German empire backed the counter revolutionary federalists while Americans and British backed the revolutionary forces.

Finnish Civil War (1918)

In this one, Soviet Russians backed Red Finnish while Germans backed the White Finnish. 

Korean War (1950 – 1953)

In the Korean War, Koreans of the north fought Koreans of the south. Americans, Brits and the United Nations itself backed the southern Koreans. The Chinese and the Soviet Russians backed the northern Koreans.

Laotian Civil War (1953 to 1975) 

this was an Americans vs the Chinese and Soviet Russians that also had republic Vietnamese fighting against the communist Vietnamese, as well as the Thais.

Vietnam War (1956 to 1975)

In the Vietnam War, northern Vietnamese fought against southern Vietnamese. Backing the northerners were communist Cambodians, Chinese, Soviet Russians, Cubans, Czechs and Bulgarians.  Backing the southerners were Americans, South Koreans, Australians, Thais, New Zealanders, republican Cambodians, Filipinos, Taiwanese and Spanish.

Rhodesian Bush War (1964 to 1975)

South Africans, Portuguese, Chinese, Libyans, Tanzanians, Soviet Russians, Zambians, Cubans and East Germans all supported various factions.

Nicaraguan Revolution (1970s to 1990s) 

In yet another showdown between West and East, Americans, Arabians, Hondurans, Iranians, Spanish, Israeli and Argentinians backed the losers while the Soviet Russians, Cubans, Bulgarians, Greeks, Mexicans and Swedes backed the communist winners.

Salvadoran Civil War (1979–1992)

And here we have yet another East vs West driven Civil War. This time, Americans Israelis and Taiwanese backed a military government against communists favored by Soviet Russians, Cubans, Nicaraguans, the Chinese and Bulgarians.

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THE GREEDY ARE THE ONLY PROBLEM THE WHOLE EARTH OVER

Everyone is free to read these facts that I present, facts interconnected in accuracy and defensible through bulletproof logic. 

Those who accept these 15 points understand adult life and much of what adult life entails — power, control, politics, governance, property, property as capital, property as wealth, work, trade and profit. Those who fight against these 15 points above suffer from cognitive dissonance and thus likely try to defend false beliefs inculcated into their hyper-indoctrinated minds.

1. Society consists of strangers who engage in trade of property.
2. A society of property is the only kind of society that can arise among strangers, each who pursue self-interested goals.
3. Property means right of ownership in things and not things owned. Property is a bundle of rights  — Jus Possidendi (right for possession), Jus Utendi (right for using), Jus Abutendi (right for destroying, alienating), Jus Vindicandi (right for recovery when found in the wrongful possession of another.
4. When property gets put to use to make more property, the name for such property put to use is capital.
5. When property made from capital gets traded in purchases and sales, most often for cash and credit, the name for such property is wealth.
6. Labor is the working man's capital. Work done is the working man's wealth, which she or he trades for wages, most often in the form of bank credits and less so for cash. Wages paid is wealth traded away to hire work.
7. Bank credits and cash constitute buying power.
8. Buying power is the means by which anyone can acquire the wealth wanted after selling away wealth produced in surplus and not wanted, whether that wealth is embodied in a finished product or work through time.
9. It is greedy for anyone to seek buying power without producing wealth in surplus that others are willing to trade to get in a purchase and sale, under condition of honest dealing.
10. As a creation of strangers of a society of property, government is supposed to exist only to protect any individual at random and his property from a mob, whether foreign or domestic, from stealing his property unjustly. 
11. Today, government, the creature, has superseded its creators. Men of government through law impose duties and rights upon strangers in society of property and well as themselves acting as the government.
12. Some of those duties include paying income taxes. Some of those rights include fulfilling greedy desires. 
13. Men of government through law grant rights to fulfill greedy desires as a means to secure and enlarge their grip on power. The more who are dependent on welfare and subsidy for their livelihood, the more support they give to those holding power.
14. Expressions of right in fulfilling greedy desires include welfare taking and subsidy taking. Specific examples include recipients of TANF, SNAP, Section 8, Medicaid, Medicare, Social Security, farm subsidies, Pell Grants, all workers of agencies engaged in doling the former as well as all workers in agencies regulating industries, which inhibit new entrants through inhibition of capital formation. Such agencies include the FDA, SEC, FAA, FCC.
15. Men of government through law impose liability for those who operate outside the framework of subsidy and welfare to fulfill their greedy demands. Thus, through liability, anyone is free to pursue right of action in civil fraud. Men of government reserve to themselves right of prosecution in criminal fraud.

Every right minded, straight dealing person knows that to get property, which is the right of ownership and never the thing owned, in anything, a person ought to acquire such in a purchase and sale with the current holder of property by trading cash or credit for property in whatever is being traded.

Everyone who has a sense of right and wrong knows that it is wrong to try to get something for nothing. And that is what the greedy do. 

That is the picture perfect definition of greed — striving to get something for nothing from someone else, without giving up something wanted in honest exchange or in honest trade of purchase and sale. Greed is wanting property in stuff without having to trade for such fairly. Greed is striving to get something without giving up something wanted by someone else in an honest exchange.

The word greed came into English about 1600, making it word of a Middle English. It is a back formation from the West Saxon word greedy, which makes that an Old English word.

Greedy is the Old English word meaning covetous. The word was used for the Greek philargyros meaning money loving in Christian religious translation tradition.

A covetous person would be one who is painfully desirous over another's advantages. Such one would seek any means to acquire those advantages without having earned those advantages honestly.

Being greedy is being envious of others who are rich and successful and driven by that envy, striving to get something, often buying power — cash, bank credits — for nothing — doing no work or not doing legitimate work. Every right-minded, straight-thinker of sound mental health would agree.

Getting welfare, getting subsidy, swindling people by fraud — all accurately express the concept of greed. Welfare takers, subsidy takers, fraudsters, all share one driving trait, a trait that nullifies character within them. They are all greedy to the core.

Seeking welfare instead of work, accepting welfare and then never paying back for that welfare is greed. Welfare collectees, subsidy seekers, fraudsters — all are greedy.

Bernie Madoff was greedy. He swindled people of their bank credit, technically, so he could get rich without having to give up in trade, honest services of earning profits trading stock.

Madoff committed fraud because he was greedy, which is another way of saying Madoff wanted something — other people's cash and credit — without trading for it — selling them stock portfolio services that would lead to honest profits.

Welfare collectees are the same as Bernie Madoff. They want free rent and free food for their entire lives without working. The common denominator between Madoff and welfare collectees is that both are greedy — they both want something — buying power — without giving up anything in honest trade — work.

When do you see welfare collectees quit welfare, work and pay back taxpayers for welfare they collected? Those who aren't greedy would do so. Anyone who gets off welfare and gets a job, paying income taxes fails to pay back for past greedy welfare collecting. Instead, they pay forward for future greedy welfare collectees.

Work is the honest trading of skills through time, of course.

Those who live by capitalism in an honest manner never are greedy. There is no greed in honest capitalism. Never is there greed in authentic capitalism.

Capitalism means living by putting property to use, which is capital, to produce property for trade, which is wealth. 

Producers deploy automation questing for efficiency. Efficiency can let producers accept lower winning bids for what is on offer while maintaining profit margin.

Whether produced with automation or not, products traded for cash or bank credits is still honest trade. Producers who use automation are not getting something — buying power in the form of cash and credit — for nothing — not selling product.

Wealth only arises from trade, of trading one kind of wealth, often cash or credit, for another kind of wealth, property in a product arising from property in production, which is capital.

Those knowingly who make shoddy products selling such products without revealing defects to trusting ones are greedy.

Freedom is the realm where a man or woman is self-sovereign. In freedom, anyone has liberty. Liberty requires government. 

Anyone has duty, in truth, only to those that one brings forth among the world. Strangers have no duty to each other and no stranger has an inherent right to anything from anyone else that doesn't arise from mutual consent.

Forcing people to surrender their living for others is mere savagery regardless of how self-deceiving the rhetoric is. As long as people demand that persons get forced to pay income taxes or face imprisonment to pay for welfare and subsidy, no one can be free. 

In representative democracies, without power, politicians couldn't cause all their wars and all of the mass murder that goes on with their wars. In representative democracies, politicians only can gain power by doling out welfare and subsidy to the greedy who surrender their individual power and sovereignty to politicians in exchange for unearned buying power.

[ See: 20th Century Murder by Government Democide ]

Greedy welfare takers and greedy subsidy takers are the problem. The problems are Crony Politics, Crony Governance and Crony Regulatory Capture. The problem rests in politics and governance rather than people in pursuit providing wanted products efficiently.


When trade is not hampered by artificial restriction of supply, nor inflated by artificial giving of buying power, the righteousness of free markets prevails. Only through markets free from Crony Politics, Crony Governance and Crony Regulatory Capture can all benefit owing to efficiency.

Peace and prosperity come to a society of strangers when each one gains self-enlightenment, self-actualization, by rejecting greediness in oneself and by rejecting calls by the mob to use forced against anyone as the means to satisfy the greediness of those of the mob.

To help you more, read these fast reads:

• LAW VS JUSTICE. GOVERNMENT VS SOCIETY. POLITICS VS YOU
• CAPITALISM. BECAUSE WITHOUT IT, YOU WOULD BE LIVING AS A BARE SUBSISTENCE SAVAGE
• WHY GOVERNMENT AT ALL YOU ASK?
• REAPING DAY APPROACHES. THE REAPER COMES TO REAP YOU. ANOTHER TAX DAY IN AMERICA COMES
• CAN YOU BELIEVE THEY HAVE THE RIGHT TO VOTE?
• TAKE THE PATH TO SELF-BETTERING THROUGH PROPERTY
• WALK LEFT SIDE, SAFE. WALK RIGHT SIDE, SAFE. WALK MIDDLE, SOONER OR LATER GET SQUISH JUST LIKE GRAPE.
• TYRANTS BIG AND SMALL. DYSTOPIAN UTOPIANS AND FORCING SOCIAL COMPACTS UPON YOU WHETHER OR NOT YOU LIKE IT
• CASHING IN THE BILL OF RIGHTS. TRUTH, JUSTICE AND THE AMERICAN WAY.

• WHY IS THE ECONOMY SO HORRIBLE? BECAUSE ACADEMIA ECONOMICS IS FAKE.
• MIKE "MISH" SHEDLOCK vs MICHAEL PETTIS, OR THE UNREALITY OF SAVINGS, INCOME INEQUALITY AND ECONOMICS
• BUT I SPENT 150 HOURS HANDCRAFTING THAT OIL ON CANVAS! OR THE LABORER'S SILLY THEORY OF VALUE.
• GREEDY CAPITALIST COMPLAINS ABOUT UNEMPLOYMENT INSURANCE EXPENSE AND QUITS HIS BUSINESS
• SAME AS IT EVER WAS IN THE LAND OF GLUTTONY AND SLOTH
• HOW IS THAT HIGH-PAYING WELFARE GIG WORKING OUT FOR YOU, GOVERNMENT "WORKER"?

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