The wisdom to shirk

[Bill Bonner’s Diary]( The Wisdom to Shirk By Bill Bonner Tuesday, August 24, 2021 Lord, grant me the strength to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference. – American theologian Reinhold Niebuhr [Bill Bonner] YOUGHAL, IRELAND – This week, we’re all getting on the same page… and the same chapter. [Yesterday]( we gave you what we think will be the pattern of the crisis ahead: (Fake) Boom… Bust… Re-Boom… Ka-Boom… Kabul. And today… we make sure we’re all reading the same book! Here’s a letter from a non-fan, clearly not even in the library. Dear reader Nancy M. quotes a line from our Diary last week: “The Taliban are NOT feminists! They think there are two types of human – men and women – and that they are meant to play different roles.” She then comments: Really? So it sits okay with you that their idea of what type of (sub)human women are is they are to be covered head to toe, not be educated, can’t go out without a male, not make any noise lest they awaken lust in a man, and if they try and rebel against this tyranny they are to be beaten and/or whipped? That’s quite the different role they’re to play, huh?! Nancy seems to believe that we (including she) know how the Taliban treat women in Afghanistan… that we (including she) know how women should be treated… and that anyone cares what we think. Recommended Link [Man Who Predicted Bitcoin Says “This is Bigger”]( [ad_img]( He called Tesla in 2018… and Bitcoin in 2015… now he says a brand-new financial could unleash a Quadrillian-dollar impact starting 2021. [Learn More Here!]( -- Live and Let Live But that was the whole point. No… No… And no… Everyone believes his own values, right now, are eternal and universal. Of course, they are not. Not even those of America’s elite, circa 2021. Things change – even our own thoughts and beliefs. Besides, it’s the winners of wars who get to decide. They impose their values – as lame and repulsive as they may be. America lost the war in Afghanistan. Its values (if it has any) lost, too. Is that alright with us? Well, yes… God has given us the strength not to give a damn about a great many things. And if we were running U.S. foreign policy, we’d put a sign on the door: We don’t try to tell other people what to do; we expect the same favor from them. [Featured: New Investment “Craze” Hits All 50 States]( The Way It Is Continuing to mine this deep, philosophical vein, let’s look at the basics of economics and finance. Actions have consequences… Are we all agreed on that? And how about this: You can’t get something from nothing? Ex nihilo nihil fit. Everything requires some input. You have to do something to get something. Every investment produces a return – either positive or negative. Every action comes with a reaction. So, let’s go further. Say’s Law – named after French economist Jean-Baptiste Say – tells us how you get wealthy. It’s a consequence… a reaction… to your own actions. You get by giving. You buy products and services by providing products and services to others, said Say. (Of course, an individual could also rob a bank… or get a stimmy check. We’re referring here to general rules that apply to societies and economies.) How do you provide goods and services? You work. You put in time, energy, and resources. Even then, there’s no guarantee. If you dig a well, you have to find water. Otherwise, you’ve wasted your time. If you start a business, it has to make a profit… or you are not really increasing the net supply of wealth. If it loses money, it means you are actually making the world a poorer place. In an honest economy, mistakes are constantly weeded out. It is the process of what Austrian economist Joseph Schumpeter called “creative destruction”… the past must die to make room for the future! Yes, Dear Reader, there are some things we just have to accept. So, let us gird our loins to fight the good fight… and say our prayers, that we may be lucky enough to win… ’cause that’s just the way it is. Recommended Link [The “Tech Royalty” Retirement Plan Can Help You Live Like Royalty]( [image]( For the first time ever, a new type of tech investment allows you to collect ongoing income. One former Wall Street insider calls them, “Tech Royalties.” And new “Tech Royalty” savings accounts allow you to collect as much as 8%... 12%... and even 17% or more. The best part? “Tech Royalties” also deliver capital gains as high as 3,639%... 4,646%... and even 15,911%. It sounds impossible, but it’s true. [Find out why “Tech Royalties” may be the best asset for the 2020s.]( -- Bloodsuckers That’s why American economist Ken Rogoff was so wrong, writing in the Financial Times last month. He lauded the authorities – the U.S. Treasury and the Federal Reserve – for reacting “so quickly and proactively” to the COVID-19 crisis last year. As a result, “there were actually fewer corporate bankruptcies in 2020 than in 2019.” [Featured: (Bizarro World) Facebook set to launch new cryptocurrency?]( What this really means is that mistakes weren’t corrected… and the zombies multiplied. America’s money-losing, wealth-destroying enterprises continued to suck blood out of the economy, in other words. Keeping them alive was a mistake. Some things you can change. Some things you can’t. Say’s Law and Schumpeter’s Creative Destruction are ones you can’t. No tricks… no magic… no Ph.D. theories can get around them. Recommended Link [Who’s Been Running America Since January 20th? Hint: NOT Obama, Joe Biden, or Kamala]( [ad_img]( Starting January 20th, radical changes swallowed America. New proposals were written on how the country should be run… what should be done with houses and assets, savings in the banks, and retirement accounts. Biden and Kamala Harris have honored the plans of these faceless men and women writing these new rules. But you can fight and win. Here’s how… [See Uncensored Story Here.]( -- Wisdom to Know the Difference But wait… “Can’t we at least help people in crisis periods?” “Can’t we just use a little planning, at the top, to prevent corrections and make the economy run more smoothly?” “Can’t wise people in government intervene to change the things they can change – making sure the economy is running at 100% capacity… with full employment?” “Or how about a little stimulus from time to time… and liquidity for those who need it?” “And… and… what about realizing our world improvement goals – less carbon output… equality… defeating the coronavirus… and providing high-quality broadband to poor people all over the planet?” Surely we can accomplish some of those goals, no? Yes… and no. Some things you can change. Some things you can’t. Tune in tomorrow for more about which is which… Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=The wisdom to shirk). --------------------------------------------------------------- FEATURED READS [Aldi Hiring 20,000 Employees to Prepare for Holiday Season]( the holiday season fast approaching, one retailer is looking to capitalize on the (fake) boom Bill has been writing about. Aldi, the German grocery store, will open 100 more stores in the U.S. this year. [McDonald’s in the U.K. Has Run Out of Milkshakes]( chain shortages are starting to hit where it really hurts! In the United Kingdom, McDonald’s has halted the sale of its popular milkshakes due to staff shortages and supply chain delays caused by the COVID-19 pandemic. MAILBAG Readers respond to Bill’s essay on the state of affairs in Afghanistan, “[The Afghan Adventure and Other Lies From America’s Elite]( and some dear readers are unhappy with Bill’s words on the Taliban and feminism… Oh no, Bill. I’ve been enjoying and learning from your musings for many years, and I can honestly say you have single-handedly pulled me from solidly in the D camp to somewhere between Libertarian and “a pox on all their houses!” But your statement about the Taliban NOT being feminists and believing men and women have different roles to play was shocking. You are an educated and intelligent person. You know what women and girls have suffered at the hands of the Taliban. Your flippant remarks are cruel and heartless… and heartbreaking for this “dear reader.” – Sami H. As the topics of COVID and Afghanistan flood the headlines and your current writing, I only wonder about the two together… Do they have COVID in Afghanistan? Sure doesn’t look like it. It’s a third-world country… But all news outlets report is that hospitals in the most advanced nation on the planet (U.S.) look like war zones. I mean, if it’s (COVID) as bad as CNN reports, shouldn’t the streets of Afghanistan be littered with COVID bodies? I see no masks on any individual, American or foreign, and no social distancing. – Anthony L. Meanwhile, others want to talk about global warming and the values, or lack thereof, of the United States… You are one of the wisest people in the world. I immensely enjoy your insight into history and human nature. But I am a scientist. Not the whore type that, these days, brought disrepute to all science, but somebody trying to continue in the disappearing tradition of searching for the truth. The harsh reality of physical sciences is very different than that of human affairs, and the ways to understand what is happening are different. Global warming is measured by thermometers. We can argue how much of this is natural, how much is a good thing, because we will avoid the next Ice Age… but in the short-term, there will be consequences. In the physical world, there are limits on the population that can be supported with available resources. Afghanistan’s population was about 20 million when Americans came 20 years ago. Today, it is about 40 million. It doubled in 20 years, just like many other poor countries in Africa and the Middle East. Poor as they are now in Afghanistan, with a very young population, can they double again with the food that is available locally? This is their major problem, not the Taliban or Americans, etc. – Stjepan M. What the leaders of the U.S. have demonstrated, whether from the outcome in Vietnam or Afghanistan, is that the U.S. is not an ally to be depended on. What do you expect when there can be major changes in values and priorities every four years, or even every two years with Congressional elections? Do you think the Communist Chinese tyranny has changed its long-term goal of global domination? They are well on the way with that goal, and they don’t have to worry about the opinion of the Chinese electorate. – Darrell G. Was Bill’s comment about feminism and The Taliban “flippant” as Sami suggests? Does the U.S. change its values and priorities every four years, or even every two years with Congressional elections? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=The wisdom to shirk). IN CASE YOU MISSED IT… [U.S. Treasury Secretary Mark Zuckerberg?]( Mayer Rothschild once said, “Give me control of a nation’s money supply and I care not who makes its laws.” Now, the U.S. government is handing over control of its currency to one of the most powerful companies in the world. This could be the biggest disruption to the U.S. dollar we’ve seen in a century… And the technology behind it will change the world in ways you can’t imagine. 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