Category Archives: Economics

Jordan Peterson interviews Robert F. Kennedy jr.

The "rogue" Democratic candidate

Video here. (1 h 35 min)

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Update (24/06/2023): I heard a day or so ago that Youtube has taken the video down. Indeed it has been. No problem, see it here instead.

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Noteworthy points from Kennedy’s statements in the interview:

In the US, 70% of all newsshow adverts are from the pharmaceutical industry.

The pharma industry is a “criminal enterprise”. The 4 principal companies (he mentioned Pfizer, GlaxoSmithKline, Merck and another one I didn’t catch) have collectively paid $35 bn dollars in criminal damages and penalties over the past decade. For lying to doctors, defrauding regulators, falsifying science and killing hundreds of thousands of people.

Pharmaceutical drugs are the 3rd largest cause of death in the US after cancer and heart failure.

Medical journals have become vessels of the pharma industry. The Cochrane charitable organisation has been an important counter-balance to this situation. [They recently debunked the myth that masks help prevent covid.] However, Bill Gates has recently started funnelling money into them, so he’s probably going to undermine them.

Kennedy thinks he has a chance as a Democratic candidate for presidency because polls show he would fare better against Trump than Biden would. However, the trick is to get this information out to the public, because the elite that control the legacy media certainly don’t want Kennedy to win (nor do they want Trump to win).

Biden won’t want to debate. Neither will Trump on the Republican side. So Podcasts and other alternative media are the way forward.

JP has this question: The Right knows where its “pathological” limits on the fringe are, and that is e.g. Holocaust-denial, racism etc. The Left does not seem to know an equivalent limit. Where does Kennedy see the limit of politics that can be countenanced?

Kennedy side-steps the answer (a bit of a red flag for me), he says he’d rather think about building bridges than disassociating himself.

JP clarifies that he thinks the left-wing idea of “equity” (equality of outcome) is pathological.

On the subject of climate warming, Kennedy says he definitely believes its happening and that man-made CO2 and methane are significant culprits. However, he is strictly against fearmongering and top-down, tyrannical solutions. He would remove all subsidies for energy and “use the free market”.

He exudes some naivete when he says that once the wind and solar farms are set up they will deliver free energy, all that is missing is a proper grid. I think he’s surprisingly wrong here. Solar panels will have to be replaced from time to time, as will wind turbines (and both will become hazardous waste).

However, interestingly he says that he is an environmentalist not out of fear for the future but out of love for nature (that chimes with me a lot).

Regarding Ukraine he says we have trapped the Ukrainians in a supposedly humanitarian mission. All we are doing is extending the war, therefore shovelling money into the US military-industrial complex.

The new brand of totalitarianism

Similar to fascism of old

Justo González in his book “The Story of Christianity” (Volume 2, p. 309), writes about the different “flavours” of fascism in the first half of the 20th century. There were many differences, but what united them was this:

“The glorification of war, dread of the free exchange of ideas, a totalitarian nationalism, and opposition to all forms of egalitarianism”

Today, we have the glorification of war (against Serbia, then Irak, then Syria, then Ukraine – and a denial that there is any glorification involved), dread of the free exchange of ideas (“cancel culture” – and a denial of its existence), a totalitarian globalisation, and a new form of racism (“whiteness is bad”), which is part of a “hierarchy of (alleged) victimhood”.

What Adam Smith had to say about conspiracies

They are quite common, especially if they are given protection by government regulation

We often hear people being dismissive about “conspiracy theories”. Yet one of the most eminent thinkers of the 18th century, who is often called the founder of economics (although there were others, see here), Adam Smith, knew that they were commonplace. Here is what he wrote in his famous book with the (abridged) title “The Wealth of Nations”:

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. 

– The Wealth of Nations, Book I, Chapter X. 

Most people who remember reading this however don’t know that the really interesting part comes after that. Smith goes on to say:

It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary. A regulation which obliges all those of the same trade in a particular town to enter their names and places of abode in a public register, facilitates such assemblies. . . . A regulation which enables those of the same trade to tax themselves in order to provide for their poor, their sick, their widows, and orphans, by giving them a common interest to manage, renders such assemblies necessary. An incorporation not only renders them necessary, but makes the act of the majority binding upon the whole.

– The Wealth of Nations, Book I, Chapter X.

Regarding this, Sam Bowman of the Adam Smith Institute writes:

As Eamonn Butler has written, Smith’s point is that the only way businessmen can succeed in a ‘conspiracy against the public’ is if they are given protection by government regulation. If not, the pressures of competition will ensure that conspiring businesses are quickly undermined by their competitors.

It’s Not Just That Global Warming Is Fake. What Matters Is Why This Fakery Is Being Promoted.

Article by Gary North from July 3, 2009

[The original is here.]

Global warming is based 100% on junk science. The most vocal promoters are not interested in the details of physical science. They are interested in two things: political control over the general public and the establishment of international socialism.

Junk Science vs. Real Science

For a detailed, footnoted, 12-page article, written by three scientists, two with Ph.D’s from CalTech, click here.

This paper was sent to tens of thousands of natural scientists in the United States.

Over 31,000 scientists have put their reputations on the line and signed a politically incorrect petition opposing the 1997 Kyoto agreement or protocol. Here is a photocopy of a signed petition.

It's Not Just That Global Warming Is Fake. What Matters Is Why This Fakery Is Being Promoted.

Here is a letter from a former president of the National Academy of Sciences. He asks recipients of the petition to sign it.

Back in the 1970’s, the bugaboo was the coming ice age, as this Time Magazine article promoted. Not to be outdone, Newsweek got on board. The article warned: “Climatologists are pessimistic that political leaders will take any positive action to compensate for the climatic change, or even to allay its effects.” Want more examples? Click here.

It, too, was based on junk science. It, too, had the same solution: government control over the economy. The goal never changes: government management over the economy. The justification has changed. If the voters won’t accept control over their lives on the basis of one brand of junk science, maybe they will accept another. As they used to say in the Nixon Administration: “Let’s run this up the flagpole and see if anyone salutes.”

Socialism’s Last Stand

The global warming movement is not about global warming. It is about the creation of an international political control arrangement by which bureaucrats who favor socialism can gain control over the international economy.

This strategy was stated boldly by economist Robert Heilbroner in 1990. Heilbroner, the multi-millionaire socialist and author of the best-selling history of economic thought, The Worldly Philosophers, wrote the manifesto for these bureaucrats. He did this in an article, “Reflections: After Communism,” published by The New Yorker (Sept. 10, 1990).

In this article, he made an astounding admission. He said that Ludwig von Mises had been right in 1920 in his article, “Economic Calculation in the Socialist Commonwealth.” Mises argued that without private ownership, central planners could not know what any resource is worth to consumers. With no capital market, the planners would be flying blind.

Heilbroner said that for 70 years, academic economists had either ignored this article or dismissed it without answering it. Then Heilbroner wrote these words: “Mises was right.”

Heilbroner was one of these people. There is no reference to Mises in The Worldly Philosophers.

This admission was the preliminary section of Heilbroner’s manifesto. He was cutting off all hope by socialists that there is a theoretically plausible response to Mises. The free market economy will always outproduce a socialist economy. Get used to it, he said.

Then, in the second section, he called on his socialist peers to get behind the ecology movement. Here, he said, is the best political means for promoting central planning, despite its inefficiency. In the name of ecology, he said, socialists can get a hearing from politicians and voters.

The article is not online. An abstract is. Here is the concluding thought of the abstract.

The direction in which things are headed is some version of capitalism, whatever its title. In Eastern Europe, the new system is referred to as Not Socialism. Socialism may not continue as an important force now that Communism is finished. But another way of looking at socialism is as the society that must emerge if humanity is to cope with the ecological burden that economic growth is placing on the environment. From this perspective, the long vista after Communism leads through capitalism into a still unexplored world that roust [must?] be safely attained and settled before it can be named.

Heilbroner did not care that a worldwide government-run economic planning system would not be called called socialism. He just wanted to see the system set up.

Heilbroner’s peers got the message. That was what Kyoto was all about.

Conclusion

If you like poverty, inefficiency, and bureaucratic controls over the economy, and therefore control over your choices, the “climate change” movement is ideal.

If you want to subsidize China and India, neither of which will enforce the rules laid down by unelected international bureaucrats, this movement is for you.

If you want to pay more for less energy, there is no better way than to pass the cap and tax bill which the House has passed. It will be sent to the U.S. Senate next week.

The rest of us should oppose it.

I hereby authorize anyone to reprint this article or post it on any website, just so long as the text is not changed.

Neil Oliver warns against digital central bank currency

In this 15 minute video.

Reminds of the “mark of the beast“:

“Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name.” (From Revelation 13:16-17)

Thomas R. Schreiner writes about this on crossway.org:

“The beast is not confined to the Roman Empire; it refers to Rome but applies also to every manifestation of evil in all governments throughout history, and also to the final conflict to come at the end.”

Regarding unjust weights

A biblical rule that should prohibit inflation

From Deuteronomy 25:

13 Do not have two differing weights in your bag—one heavy, one light. 14 Do not have two differing measures in your house—one large, one small. 15 You must have accurate and honest weights and measures, so that you may live long in the land the Lord your God is giving you. 16 For the Lord your God detests anyone who does these things, anyone who deals dishonestly.

(I first learnt this when I read Guido Hülsmann’s book “The Ethics of Money Production“)

Economic Storms are Gathering

Jordan Peterson interviews Peter Schiff

Video.

From the video description:

Peterson draws upon his extensive research and relatable real-life experiences to illustrate how to develop attainable goals for intimate relationships, meaningful friendships, and your career. Transform the chaotic potential of the future into actuality — with a vision.

Dr. Jordan B. Peterson and economist Peter Schiff discuss the gold standard, the corruption and impending failure of the fiat system in the wake of inflation, why politicians are pushing inflation to astronomical new levels, and why they’re lying about it.

Peter Schiff is an economist, financial broker, author, frequent guest on national news, and host of the podcast, “the Peter Schiff Show.” Starting in 2005 Schiff took notice of the red flags signaling that economic unrest was looming, and correctly predicted the 2008 housing crisis. His attempts to warn the general public across a multitude of news and radio networks earned him the nickname “Dr. Doom,” and ever since then he has been looked on as a source not only to watch, but heavily consider.

In 2006, Schiff predicted the financial crisis that eventually hit in 2008. At the time, other economists laughed at him. See this clip for example.

Decline of Christian faith during Covid

Some proof from the US

Chuck Baldwin is a conservative American Christian who has been heavily involved in politics in the past. He has recently written a piece commenting on a survey showing a sharp decline in faith among nominal Christians in his country: “America’s Pulpits Under Indictment: Let the Adjustments Begin!”

The findings of that survey confirm something I predicted based on what I learned from Gary North. When I saw how churches throughout the world, but particularly in the Western world, reacted to Covid, I predicted a further decline of faith. The clergy’s reaction was in principle identical to what they did, according to North, during the Plague or Black Death. Back then, they fled the towns for the countryside instead of ministering to the sick and dying. This cost the church a lot of credibility and paved the way for the Renaissance. The Renaissance was an intellectual movement that delved into the writings and philosophies of pre-Christian ancient Greece and Rome, looking for sources of truth other than the Bible. This ultimately led to thought centred on the human being instead of God.

The Renaissance in turn led to the enlightenment which first relegated God to a role of disinterested and distant Creator (so-called “Deism“), until essentially discarding God entirely. The “death of God” (Nietzsche) then led to the horrors of the French Revolution which, after having been defeated and staved off (just about) for a century (in which time the Industrial Revolution brought untold blessings to untold millions), led to the various horrific, ideologically driven mass slaughters by the millions in the 20th century, a phenomenon which essentially has to this day not yet abated.

During Covid, the clergy didn’t flee the towns. Instead, they locked the churches, implicitly declared their services “non-essential” and fled into cyberspace and Zoom services. They thus relinquished spiritual space, so to speak, which will now be populated by alternative beliefs of all sorts. They had been seeping in for some time, but this seepage is now becoming a torrent.

It will be interesting to watch how the churches recover from this blow.

Addendum: There is an interesting other recent survey with a somewhat contrary message: “Surprising Surge Of Young Americans Turn To Religion“.

Zero Hedge writes:

The story of religious trends in America has been one of increasing disaffiliation among younger generations. But a new study reveals an unexpected resurgence of faith among youngsters in a post-Covid era. 

Some young adults had an awakening during Covid as the entire world crumbled around them. They were in search of a higher power to get through the government-forced lockdowns and controlled demolition of the economy, as well as watching loved ones and friends contract Covid-19 that some federal government agencies believe leaked from a Chinese lab.

As reported by the Wall Street Journal, a new study commissioned by Springtide Research Institute found about one-third of 18-to-25-year-olds believe in a higher power, up from one-quarter in 2021. The findings were based on polling data from December. 

Continue reading here.

However: Will the churches be able to offer these young people a long-term spiritual home?