Debt Rattle March 17 2020


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    Edwin Rosskam Shoeshine, 47th Street, Chicago’s main Negro business street 1941   • A View From Italy’s Coronavirus Frontline (G.) • The UK Only
    [See the full post at: Debt Rattle March 17 2020]


    Raul, this is something you wrote in 2008- And after reading the room (there was a knife wielding in a supermarket over toilet paper) I reckon the trust horizon is shrinking so damn fast that I thought we could all have a re-read :

    We have lived through a time of unprecedented affluence, and we have seen it as normal, and told ourselves we deserved all of it, that we are entitled to what it has given us. But it’s over, and it will be no more, nor will it ever return in our lifetimes. If we are to live in a functioning society in the years to come, we will have to share much of our riches, and we will have to find out how to be fulfilled with much less material wealth. If we don’t, our societies will collapse, and we will lose that wealth regardless. But looking around me, I see little hope that we will do all these things before it’s too late. It you don’t volunteer to share, the difference in wealth between you and your own children’s generation will become so glaring that they will come and take it away from you.

    An era is over. We have been the last of the affluent, the carefree and the innocent. Not that we’re really all that innocent, mind you, it was all just pretense all the way, many millions of people have died for our affluence. We just never told ourselves their life stories. They will be our stories soon.

    Are you now ready to fight in the streets, to protect your family, to share your meal with the hungry? It’s not about being a leftie, or a softie, and I certainly am neither. It’s about survival. It’s about being smart enough to read the world you live in. The model of the nuclear family will die with the affluence. It’s never been but an aberration. You will, like your ancestors before you, need your family, your friends, and your neighbors.

    Life itself is about to come calling.



    Very interesting article about how fresh air and sunshine was used to combat the flu in 1918. With fresh air and UV acting as disinfectants it could reduce the spread. It also suggests that the best kind of hospital could be a MASH unit. These would be easier to set up and be very flexible as to location.

    We know that being confined in a tight space with many others helps the spread, whether it is a ship’s cabin or a hospital. Tent based hospitals could be quickly built in quantity. The main issue would be power supply and mobile oxygen and ventilators [and staff].


    Since I published this:

    Iran: +1,178 cases +135 deaths
    Spain: +1,337 cases +155 deaths

    Dr. D

    Another day, another day China doesn’t ‘fess up and claims no one died. Everyone plays along more completely and slavishly than Google and the NBA.

    they will spend, trillions this time, bailing out banks and large companies that only exist to a large extent because they were bailed [out]”

    Yes, but it will dissolve the parasitic system they depend on with the dilution of money and financial reset. Live by the sword and die something something… Ending that is a GOOD thing. How do you end the powerful? Feed them rope. “”Whom the gods would destroy they first make mad” –Longfellow 1875

    I mean, clearly fighting more powerful enemies head on hasn’t worked. In fact, it’s quite obviously stupid.

    “Pray for Italia” And their 0.003% death rate? I mean, okay.

    “Richard Horton, editor of The Lancet, tweets: “32% admitted to ITU with 15% mortality.”

    That’s not what China says. Where did you get your information? Or are you keeping two books, not telling us, and saying we must trust you? According to China, with 1.2B people, if Britain got all 3,000 of their deaths, it would STILL be a 0.0045% death rate. Not sure if that rates above or below vending machines but maybe being attacked by a Channel Halibut. Want to come clean now or is the drama and panic too intoxicating?

    A suppression strategy, along the lines of the approach adopted by the Chinese authorities,”

    China says it’s done and over, they’re cleaning up. Now no one believes them, but if so, why are you citing them as a source? Also next line, we already have at least two solid “cures” (treatments). So what’s with sticking to the idea of a vaccine that can’t come in time, and from SARS is already proven not to work but probably wound? You just like stupid or are you illiterate too? (Shuddering to ask if he’s also on the “14 day quarantine” still.)

    Experts: Okay, in “Today’s lambasting of ‘experts’” the Herr Docktor Cooking Channel, the “experts” all advised last month NOT to shut down air travel to China. Trump overruled them, and the screaming, always the screaming… This came out when it was just cited like yesterday as an example of how “unscientific” the administration is. …Because he did the right thing that any idiot with a lick of common sense would do, but Harvard and Yale couldn’t figure out. And tried to kill us all. A G A I N . And this is a BAD thing, apparently? They want to advertise this? Whiskey Tango

    So…Lancet…hey aren’t you the guys whose editor said maybe half of your papers were false and unrepeatable? Trust us. We’re the Experts™. Who tried to kill you and your family. Only yesterday.

    “Americans Get a Taste of Life Under Sanctions (MPN)”

    Apparently Americans have never had anything real happen to them and this for sure isn’t going to break through either. Had a guy I know yesterday go to the grocery store, just ‘cause, you know, lunch, a bit peckish, why not go out instead of stay home, and wanted to know why the salad bar wasn’t open. Are you for real kidding me right now? When I told him, hey, you know that news you read every day, all your facebook friends, memes, full access to apple news, etc, he said “how long is this bs going to last?” I dunno, sir, between 30 days and forever?

    But you know from how everyone has endless time for complaining and drama that t’ain’t nothing going on here yet, y’all. Whine, complain, b—h, blame, surrender, couch. ‘Cause I sure ain’t going to leave my couch and DO anything while I’m still have a breath to whine and complain instead. Especially about that salad bar. Have we no standards??? Think of the humanity! Iceberg ahead!

    “the federal government needs to take over the supply chain right now.” -deBlasio

    Translation: AOC’s full-communism for Green Policy failed, so we’re going to try for full communism again with the next plausible excuse. P.S. we’re so mind-bendingly stupid, and such blinding blood-crazed zealots, that we didn’t notice if you nationalize all things on earth Donald J. Trump with have complete control over everything as a Stalinist dictator. Over us. And apparently we want and demand that. Right now. Tzzzzt, tzzzt, calling all synapses, fire!

    “Spain Takes Over Private Healthcare Amid More Lockdowns (G.)”

    The same government who didn’t do anything and didn’t see it coming and was too late? I’m sure when it’s your case in the hospital room they will push your doctor aside as they did Dr. Day, won’t do anything, won’t see it coming until it’s too late. That’s just #Logic! I want MOAR! Thank you sir, may I have another?

    Ah, but there’s a solution: moar CDC, more experts, more government, even in the #SameSentence as we say Cheeto and the government f’d it all up! Right deBlasio?

    And you wonder how my keyboard wears out typing #A.n.t.i.L.o.g.o.s., the opposite of all Logic.

    “Mitt Romney’s Coronavirus Economic Plan: $1,000 To Each American Adult (Vox)”

    Well if you want instant retail commodity inflation in toilet paper, that’s a good idea. Not that it matters much: we’re about to do a monetary reset anyway. Beats a #Monopoly bailout.

    “I believe in my brother and friend Xi Jinping, and I believe in Chinese help.”

    Says a guy about to be taken over by China instead of by Brussels. Paging Serbia: it’s Hungary on the phone who says they still want to exist as a nation and a people.

    “EU Calls for 30-Day Ban on Foreigners Entering Bloc (G.)”

    But, but, that’s a hateful, racist, Nazi war crime death bad think forever! Borders, rules = bad. No rules, no consequences, every man for himself = good. No rules you can’t tell me what to do reality is optional: That’s our god!

    Can Russia Use the Coronavirus to Sow Discord Among Americans?”

    No, but the DNC and media will. RussiaRussiaRussia! Forever and ever, until Baron’s grandchildren are accusing Chelsea’s great-grandchildren, and Russia is in Alpha Centuri and hasn’t had to lift a finger in 100 years.

    DOJ Drops Charges Against Russian Troll Farm for 2016 Election Meddling (L&C)”

    Golly gee, because they had to post a lick of evidence? Kind of like Flynn, they “accidentally” “lost” “all” the “evidence”? But don’t worry, they will just keep saying it forever and ever, RussiaRussiaRussia, under my bed, shutting off my heat in Fargo, even here. Newsflash: Russia is the size of New Jersey. I think we can take them.


    Also, John Day et al, a study at PubMed:

    In Vitro Antiviral Activity and Projection of Optimized Dosing Design of Hydroxychloroquine

    Where do we order it?

    Dave Note

    Interesting bit from Kark Denninger yesterday as relates to Hydroxychloroquine :

    South Korea had a materially lower fatality rate. Not a bit lower either — close to an order of magnitude less, depending on where you’re comparing against. Why?

    We’re not sure but they used a cheap, off-patent anti-malarial and apparently it was effective enough to severely limit progression.

    Look folks, if you get to the point of needing a vent, you’re odds off to live. Period.

    Therefore the goal has to be preventing that, not having a lot of vents, assuming the intent of the strategy is to actually keep people alive instead of maximizing the amount of money the medical system extracts from the economy.

    The second is extremely important. Why aren’t we recommending that any person at elevated risk who can tolerate said anti-malarial take it right here and now? If it takes a zero off the serious case and fatality rate of this disease among that population and it appears from the data in South Korea that it might then using it as a prophylaxis may well take this virus from a serious public health problem with the potential to overload the medical system to nothing significant at all…”


    “The Federal Reserve gave it one final blast Sunday night — while everybody else was counting their rolls of toilet paper — and the effect was like blowing hot air into a shredded Zeppelin.”

    Kunstler deserves honorable mention for that simile.


    @ oxymoron
    Raul, this is something you wrote in 2008….

    Today is tomorrow

    Here is a simple truth/concept that is complicated when trying to apply it in reality.
    Its not socialism. Its not capitalism. Its not D or R.

    Everyone will need a revenue that is sufficient to be able to eat enough to live for another day and to pay the rent collectors.
    The first part has already started by using MMT.

    The second part will come next.

    There are only two ways for a person to receive a revenue.
    A simple Example

    Edwin Rosskam Shoeshine, 47th Street, Chicago’s main Negro business street 1941

    1. Do something for someone that they cannot do and that they are willing and capable to pay you to do it for them.
    2. Do something for someone that they do not want to do and that they are willing and capable to pay you to do it for them.

    Dave Note


    200mg 50 tablets $40.16

    Hey, you need a prescription, but cheap. In quantity the bulk price would be lower.

    Will it be uswd widespread? Hell no.

    None of Us is as Dumb as All of Us

    None of Us

    Dave Note

    Watched an interview with a guy who headed infectious disease task forces over the decades, the big bad ones ebola etc…

    He said SPEED

    Don’t be afraid to be wrong because epidemics are almost ALWAYS faster than human decision making.

    You have to try and keep in front of the wave like a surfer on a 100′ breaking wave.


    Most ‘over reactions’ after the wave breaks on a community look like pitiful too little too late UNDER reactions.

    So to the US political and apparatchik class, grow a pair.

    On the plains of hesitation lie the blackened bones of countless millions who at the dawn of victory lay down to rest, and in resting died.

    Adlai Stevenson

    Adlai Stevenson


    My fear, it doth envelop me
    ‘Til what I fear is all I see.

    I keep swinging back and forth between “This thing is terrifying” and “We’re in a simulation”.
    It could be both or neither, I suppose, but I know that when I think it is terrifying, I’m numb.

    Oxymoron: I am optimistic. I think people will find that a shared purpose and a sense of community are pretty good substitutions for materialism.
    Forced- for a while- to communicate by screen, and prohibited from contact, we will long for the good old days of face to face interactions. They will return.


    Wow, Oxy, 2008. I didn’t remember. And that was about the financial crisis, the one we can ow look forward to 12 years later, just 12 years worse.


    And happy St. Paddy’s of course. Since leaving Montréal I don’t know anymore what day it is.

    Maxwell Quest

    “Mitt Romney’s Coronavirus Economic Plan: $1,000 To Each American Adult (Vox)”

    The elites are in full blown panic mode. Their great big wonderful centrally-planned non-organic non-fault-tolerant global wealth extraction machine is seizing up before their very eyes. What’s a leader to do? Why, pour a gallon of nitro in the tank and push the pedal to the floor. That should do it. Idiots!


    Yesterday, Trump had a group of 12 people on the stage for the White House corona press briefing, telling America to avoid gatherings of more than 10 people. Someone must have pointed out the irony. Today there are 8 on that stage.


    Sorry Raul- Oxy was quoting you. My apologies.


    “The elites are in full blown panic mode. ”
    They think that the gov. printing presses are destroying their way of life. (global wealth extraction machine)
    They are forgetting

    If you kill all the sheep, you will not get any more wool.
    The old story, golden goose, golden egg.

    Dr. D

    Uh-oh, they declared war on Corona. Hope that goes better than the War on Poverty, the War on Drugs, the War on Terror, the War on War…

    Maxwell Quest

    “Uh-oh, they declared war on Corona. Hope that goes better than the War on Poverty, the War on Drugs, the War on Terror, the War on War…”

    LOL!! You’re killing me!


    A two year war on the virus is going to destroy the infrastructures
    I saw that more than 23K retailers have closed their door.
    Retailers are closing their stores to try to survive because consumers are not buying.
    If closures last past the due date for paying the rent then will the store inventory be seize by the bank, the landlord or …..
    Employers are helping their employees how to fill the forms to get fed unemployment insurance.
    The online sites are crashing .
    Don’t forget
    All of these problems happened in China.
    The mfg. in China, are not getting purchase orders from stores that are closed.
    Therefore, no mfg of products. Therefore, unemployment problems still continuing.
    No income no purchasing.
    No sheep no wool.
    How many weeks can everything stop. Never to go again.


    I saw on the Guardian a banner

    Life in the time of Corona…


    People with no income cannot pay bills.

    Businesses with no income from customers have no income to pay bills.

    What bill!!!!.
    taxes, municipal,provincial, federal

    help help help help


    The quote from Raul I posted was more for interest sake and review but re-reading some of their primers from way back reminded me of the value of this type of analysis. Raul, Nicole and David Holmgren amongst others have put their necks out with commentary and information sharing for a long time now and I for one am just so much better positioned during this Monetary reset and cultural chaos period because of them.
    Life goes on (maybe not for the bazillion species now lost to history from our industry). Let’s keep digging people. There is a lot of bullshit to wade through.

    Oh and the Primer “40 ways to lose your future” – scary.


    Today is an interesting day for my family of four.

    Yesterday my daughter, 19 years old, just back from the now closed university in downtown Toronto, came down with a fever. She showed all the symptoms of the coronavirus. Today she says she feels better.

    My son, 23, works as a GE wind turbine technician, called in sick today due to his sister’s illness, just to be on the safe side, considering what the government is saying. He is only allowed 3 sick days a year. After that he doesn’t get paid.

    We were discussing at supper how Ontario is not testing people anymore, now that they have lost the battle to contain the coronavirus. In the last 3 days, the total number tested in Ontario has fallen sharply, from 42, 32, to just 13 yesterday.

    We know of 3 people who likely have the virus! Brother-in-law is quite sick and went to the hospital but they just X-rayed him, gave him a prescription, and sent him home! No test of course! We will see how he does.

    So the virus numbers out of Ontario now are 100% fake! Just like China! They do not want to know if you have the virus! It is Don’t Tell and we won’t ask! Not even Stalin is counting now!

    Ontario assessment centers are saying don’t come, stay at home! We don’t want to see you and we will not test you even if you have the coronavirus! Basically, please don’t bother us, we are too busy!

    If my son stays home, then GE will test him and if he doesn’t have the coronavirus, they won’t pay him! And neither will the government!

    The end result of all of this shit, is my son will be going back to work tomorrow! Virus or no virus!

    My daughter works at a golf courses’s Sunday brunch. She has to give 2 weeks notice before hand if she will miss work. Since it is this Sunday, I can only hope the government or the restaurant decides to close first! Otherwise, she has to work or she will lose her summer job!

    Some pretty choices, eh!

    As for my wife and I, we have been hibernating all winter anyways, its Canada after all, so self isolating isn’t much of a life style change. We still have patches of snow and ice on the ground. I haven’t worked for 19 years. So I am just a useless bum with a home! One dwarf Dutch rabbit and her chipmunk friend are dependent upon my pet welfare! The mice get peanut butter!

    (Bosco – how are your pet crows doing?)

    My daughter is mostly staying in her room, going online to keep up her business course work, as the university has switched to 100% online.

    I am interfacing with my daughter, cooking all the meals for everybody (as I have been doing for decades plus food shopping), so my more vulnerable wife can keep her distance.

    I wash my hands more frequently too. I have upped my UVB light therapy from 5 to 10 minutes to increase my skin’s vitamin D. I will probably put my wife on it too.

    So life continues!


    Meanwhile, Saudi Arabia took perhaps the most drastic step among its neighbors in the Middle East and ordered all private sector workers to stay home for 15 days. The kingdom has already barred foreigners and cancelled Muslim pilgrimages.

    They forgot to send the USA troops home


    More countries are also imposing emergency measures across the Middle East, with Syria having days ago shuttered universities and many public spaces – despite not reporting any official confirmed cases, and Jordan Tuesday banning gatherings of more that ten people.

    But Iran has taken the most drastic measures as the virus’ spread has continued unabated, with daily rising numbers. Tehran says it’s now temporarily sent some 85,000 prisoners home to ensure the pandemic doesn’t rip through the nation’s overcrowded prisons and jails.


    Thanks for the link to Steve Keens Interview. He is exactly right.

    The only analogy close to what the USA is facing today is if the Great Stock Market crash of 1929 occurred later in March 1932 due to the reappearance of the Spanish flu. FDR hadn’t had two years to make a name for himself fighting unemployment. The Herbert Hoover second term at least would have acknowledged the suffering even though he did nothing. Donald J. Trump doesn’t care who dies nor know how to save the USA from the consequences of a pandemic and depression at the same time. My governor, Larry Hogan, is trying the best he can but he will not be sworn in as President in 2021.

    Capitalism is dead. Only governments can close borders, fight the pandemic, and save lives. Only government can give money to out of work, broke Americans. Department of Defense can manage and man their logistic system to feed families isolated at home where private delivery companies have collapsed. Only government shelters the homeless and ill; keep internet providers, electricity and water utilities working.


    WES, it is disheartening to hear the situation in Ontario. It seems that Sweden, Norway and Denmark have decided to follow the “stop testing” path. Their recent numbers look wrong — most countries near the top of the list have been growing at 10-20% per day. That was true of Sweden, Norway and Denmark until a couple days ago. But now suddenly low numbers…. very suspicious.

    I suppose this is inevitable? Once you give up on containment, testing loses a lot of its value. Once you have throw up your hands, it makes no difference if your daily total is 1,000 or 1,000,000. There are other tasks competing for attention, like building more ICUs and recruiting more doctors and nurses as fast as possible. Not that I see enough of that either . . .

    Dr. D

    “Capitalism is dead.”

    Does that mean I can’t work and make stuff anymore? I can’t trade it with my neighbors? The government has the time to come down here and stop me?

    No. The government isn’t going to do jack. That means there’s nothing BUT capitalism, as I help my neighbors while governments run around with their hair on fire and try to obstruct me. THEY aren’t going to provide food, because they do jack all day, don’t make food, and have never done anything productive in their lives. –I– do. And we’ll keep doing it, as always, regardless of what they spout off, pretend to control, regardless of whether it’s legal or they make us criminals in the black market, we will always produce and share with our neighbors. With free exchange. One that gives us resources for charity. They won’t. They will do what they always do, what they do best: steal stuff and kill people.

    If they vanished, I’d hardly notice. If they did, we’d all be so localized the virus would quickly vanish. So go ahead and ask THEM for your food, for your help, for your test, instead of me. They’ll tell you to get lost: we’re busy eating your food and providing NO services, as per Toronto.

    I’ll be here, illegally if necessary, with all the things you need to get by, at considerable work and risk to myself. Decide who’s the villain here and which system you prefer.

    John Day

    Just catching up on inbox and this blog last night and this morning. Hydroxychloroquine, Plaquenil is a prescription medicine, used every day by people with autoimmune disease, not expensive as an ativiral treatment, but requires a prescription in the US. Most of the side effects are seen with long use and/or high doses. Do check for interactions with any medicines you may already take.
    Show the articles to your doctor, maybe print them up.
    This information is not coming to me through medical bureaucracies. I am sending it out.
    This is not a healthy system.


    @ Dr. D
    My opinion will not change anything.
    Gov. means having rules and regulation so that our social and economic structures can function.
    The enablers, lawyers, accountants, are the right hand men of those politicians.
    Things are changing. However, it wont be to the advantage of the blue collar worker.
    Enablers will be there to make sure that the changes are to their advantage first.

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