We Need Universal Basic Income Now
Have Patience With Me. Not Entirely Joking. In fact, Not At All. Here's Why. The How parts will follow.
It’s beginning to feel like 2007. Despite vertiginous highs in the markets, the extension of a bull run that’s lasted more than a decade, it’s looking damned scary out there. “Undeniable tail risk” is the most sane comment I’ve found.
There is literally no way to dampen inflation without crippling the economy and that means all of a sudden, interest on government debt which is basically bonkers, is going to eat up more tax revenue, and all that leveraging is going to cripple every one of us who is overleveraged and one way or another, everyone but Russia is way way overleveraged. If there is a market crash, people living through and on the markets will be pissed and vote wild again. Further, that terrifying word, ‘stagflation’ is beginning to be used, and more and more people are starting to believe the goldbug’s prognostication of societal collapse: guns, Dobermans, home farms, civil war, rationing.
Police State. Armageddon.
There’s a reason the most popular live feed on Youtube channel is of a chicken pen. Everyone is thinking….well, could I keep chickens? I definitely could keep chickens. Look how cute.
So Armageddon. Maybe. Maybe not. Maybe something else. After all, out of the 08 terror came financialization and I, frankly, am impressed as hell by financialization. I’ve lived off financialization[1] for 19 years. If you are in the markets and/or take a pension, you are too. It is utter lizard wizardry. It is built on debt, but what can you do? The producing economy in the western democracies has been methodically shut down by the filthy Club of Rome genocidal idiots and their pet environmental movement, for going on 20 years. It’s been slow, like the proverbial frog boiling, but a vast and intricate regulatory structure has been built on the use of every natural resource, and then, subsequently upon every human activity, which means that anything but teeny-tiny increments of growth is impossible. (2% growth is blatant lie.) So, in order not to turn the educated classes into revolutionaries, the wizards just decided to finance the culture with debt.
“it is financial markets that drive the real economy, not the other way around. We have never experienced a modern economic cycle that looks anything like this.”
Out of pure evil, comes good. Hey, there’s even a bible verse about this. “You meant it for evil, but God meant it for good.” Or the more thunderous Old King James Version:
More financialization is the solution to the current appalling mess. Might as well close the circle. Financialization and employment by the administrative state (borrowed money therefore financialization) already keeps maybe 60% going, living off what’s left of the private market. Which in turn, needs to turn to the government for bailouts or subsidies whenever things look scary in the C-suites. The news this week that the markets aren’t afraid of climate change regulation anymore because, guess what, hallelujah, their costs will be paid by the taxpayer! More debt!
Sorry, I had to pause for a good long giggle.
This chart should scare your socks off. If it doesn’t you are asleep and I’m jealous.
It's absurd. Welcome to Absurdistan.
So in face of this rank absurdity, we in Canada are going to try it out UBI for ya. Such fun. It means that everyone will get an allowance, kindof like a monthly dividend check. We must ask, if so many are living off the financialization and securitization of debt, why can’t everyone. Hello? Thomas Piketty? We just haven’t borrowed enough.
I don’t think it’s stoppable. Not in Canada. That weasel spawn of Fidel Castro has joined with the Commie NDP weasel to keep them both in power till 2025. To forestall being ridden out of the country on a rail with sheep entrails wound around their metro-sexual necks, they have promised each other and our ruinous civil service that full steam ahead for a universal basic income is on the cards. Three years and they will own the future.
Why else did the sainted Mark Carney return to Canuckistan from the august heights of the Bank of England, in itself the capper to any colonial’s career? Because this is going to be his task, his great and final contribution to humanity. The first happy step in the NWO will be taken by Canada. How lucky are we?
Conservatives will flail against this, spouting great gobs of futility. Nothing in their tool box will be able to contest it. Despite their leading in the popular vote for the past three (almost certainly stolen) elections, urban votes will defeat any conservative opposition to UBI. Every teenager, retail clerk, warehouse worker, civil servant, Indian, compassionate housewife, utopian dreamer, recent immigrant, street person, forest dweller, hippie, club kid, artist, student will vote for it. People will stream out of cracks in the sidewalk to vote for it, come down from mountain tops, sober up just for the day, and stagger to the polls.
Yes of course, instituting UBI into Canada is insane in an economy that is subsisting on massive unsustainable debt, where even the most non-productive sector is subsidized. But then the circular reasoning takes hold: if the unproductive (hello media) are subsidized, everyone should be subsidized.
To any realist reading this: a vanishing number of people in Canada wonder how we are paying for any of this.
Never mind!
Being a rigorous acceptor of reality I am all for it. I think we must prepare for it. And, I also think it’s possible. It is affordable for us, because Canada is the richest country in the world with regard to accessible natural resources. We are a fatted PIG of resources, the roaring forest boar of natural resources, everything China has, we have. Everything Russia and China have, we have times 10, if you count per capita. Plus we have modern infrastructure, a functioning legal system (sortof) and trained engineers for as far as the eye can see. We also have developed, largely because of our shrieking enviro movement, various engineering processes that mitigate most negative effects on the environment.
And if we do it, if we pull it off without crashing the economy, hold on, the left will have a tool that will overrun any return to fiscal health and sanity by any conservative or populist government that manages to claw its way into power over the broken fraudulent voting system.
So, this is how we manage this inevitability, and emerge with an actual burgeoning and largely local economy:
Kidding! You have to read Part 2.
[1] If you are in the market, in whatever fund, you are being financialized, securitized, everything you have built or inherited or received as pension, has been moved into the nethersphere of the market where ever increasingly sophisticated algorithms adjust your holdings to the mille-cent every millisecond.
Also, read this: https://www.zerohedge.com/markets/hedge-fund-cio-we-have-never-experienced-economic-cycle-looks-anything
Scott Ritter and The Battle of the Donbas
https://www.youtube.com/watch?v=w5RKNoIhE40&t=3s
This may seem tangential to your article on a UBI but I think it is very relevant. Above is a very informative interview of American Scott Ritter who has impressive credentials and relevant experience and provides a geopolitical assessment of the conflict in the Ukraine. As he states, the war is over and the big losers are first and foremost the Ukrainian people followed by NATO countries and particularly the US. As he states, this war was caused 100% by the US. NATO puppets such as Canada are also implicated. The west just shot itself in the foot economically because this war has created major blowback and may bring down the corrupt western financial system of central banks and fake currencies created by the trillions out of nothing and used to buy tangible assets such as commodities. The reserve currencies, particularly the US dollar but also the Euro and the British pound, will be hit the hardest. The future is real assets such as oil, gas, food, wood, copper and nickel, i.e., commodities in general, and real money which is gold and silver. Russia just established a de facto gold-backed ruble which will bring down the fiat currencies. Who in the future will want to exchange their products and services for fake money? And what happens when all those dollars flood back into the US and start chasing food, energy and manufactured products? An inflation rate of 8.5% (actually over 15%) is going to look like mild inflation compared to the inflation tsunami that is about to hit the shores of America and Europe. Canada as a large country endowed with major resources could become a global producer of essential energy and minerals but first the environmental terrorists who have captured the federal and provincial governments will have to be dethroned. See here: "Mineral Deposits of Canada: A Synthesis of Major Deposit Types, District Metallogeny, the Evolution of Geological Provinces & Exploration Methods."
Well, it's a cute story, anyway. But what happens when Albertans realize that it is they who are subsidizing the lifestyles of the Quebecois and Ontarian? Will they just sit and take it? It's not as if Canada is a physically well connected society. I look forward to part two to see what happens next.