We all live in a metaversian cosmos

[Bill Bonner’s Diary]( We All Live in a Metaversian Cosmos By Bill Bonner Wednesday, December 8, 2021 We all live in a yellow submarine Yellow submarine, yellow submarine We all live in a yellow submarine Yellow submarine, yellow submarine – “Yellow Submarine” by The Beatles [Bill Bonner] YOUGHAL, IRELAND – A storm passed over Ireland yesterday. The power went off. Trees blew down. The roof of an old shed flew off. Oh… if we could only live in the [Metaverse]( where the only things that happen are things we want to happen. If only we knew where to find it! Here on Planet Earth, life goes on. And with so many hours… so many resources… so much brain power and capital applied to the fantasy world, it is not surprising that the real world feels a little neglected. Here’s the latest news from Breitbart: Productivity Crashes More Than Expected The productivity of U.S. workers in the third quarter of 2021 dropped at a rate of 5.2 percent, the Department of Labor said Tuesday. Economists had forecast productivity would decline by 4.9 percent. Unit labor costs soared at an annual rate of 9.6 percent in the third quarter of 2021, reflecting a 3.9 percent increase in hourly compensation and the decline in productivity. That was more than expected. Analysts polled by Econoday had forecast unit labor costs to rise 8.3 percent… Let’s see… higher labor costs… less labor output. Is that a formula for success, or what? Recommended Link [Mark Zuckerberg’s Trillion-Dollar Bet… The Future is Here]( [image]( One new technology is set to disrupt the world, called: [“M.T.A.”]( >> Facebook changed its name to “Meta,” hired 20,000 new employees to work on “M.T.A” technology, and is shifting its trillion-dollar business model right now… >> Google has a global $270 billion secretive project inside “M.T.A.” technology. >> Microsoft (according to experts) is already acquiring secret patents on this technology. >> Apple is hiring NASA engineers and could wipe away their own Apple devices just to incorporate this new “M.T.A.” technology into their business. [Is this the greatest technology race in history?]( [Click Here For All The Details]( -- Fantasy World But in the fantasy world, assets get more and more valuable… even though they don’t produce any more wealth… …[houses go up so much]( that you can “take out” some of the value, without giving up floorspace… … “crypto” currencies… meme stocks… [NFTs]( and [money-losing companies]( can make you rich – even without sales, profits, goods or services, employees, skills, or tax bills. What in the real world can compete with that? Yes, we all live in a yellow submarine now… in the deep calm of the metaversian cosmos. But where did it come from? [Featured: The Truth Behind the Global Chip Shortage]( The Real Cost of Cheap Credit An educated guess: from a flood of liquidity from the Federal Reserve, that buoyed up everything not firmly attached to the real world. For the last 10 years, scarcely anyone’s toes have been able to touch the bottom. Even before the Wall Street bailout of 2008-2009, interest rates had been falsified by the Fed for many years. Cheap credit caused a bubble in the housing market that eventually cost up to 10 million American homeowners their homes. Wall Street lenders, however, got off scot-free. They should have taken their losses (they lent far too much money with far too little collateral). And the stock market should have gained a solid footing, but at a much lower level. Instead, the Fed lowered lending rates even further… and the water got deeper. Today, the federal funds rate is all of 0.08% (essentially zero)… and [inflation is running at 6.2%](. In other words, the Fed is lending to member banks at a MINUS 6% rate. And by [our calculations last month]( in order to get ahead of inflation – [as Paul Volcker did in 1980]( – the Fed would have to put its funds rate up to almost 10%. Not going to happen. Recommended Link [Musk, Bezos And Billionaires Go “All-In” On $867 Trillion Financial Technology]( [image]( Elon Musk calls it “brilliant.” Mark Cuban says it’s “the next great growth-engine.” Facebook investor Peter Thiel says it will “change the world.” Inventor of the first web browser Marc Andreessen calls it “the most important technology since the internet.” And billionaire Mike Novogratz says it’s so powerful it could even “replace” the New York Stock Exchange! Name practically any billionaire, and they are likely investing in [this $867 trillion financial technology.]( And you can get the ticker at the center of it all for FREE. On average, it’s minting an estimated 22 new millionaires a day. It’s doubled in value this year. And experts predict it could MORE than double again in the coming months. [Click here to get the ticker symbol now for free.]( -- Fleeting Fantasy Meanwhile, the most important credit in the world, the U.S. 10-year bond, is trading at a nominal yield of 1.4%. But subtract the going inflation rate – 6.2% – and you see that the real yield is MINUS 4.8%. And now, after lending money for years at yields below inflation, is it any wonder that people retreat to fantasyland… a submarine quietly navigating beneath the tempestuous waves? [Featured: (Why America Is Failing) — 1,000+ Pages of Evidence Collected]( It is a place where time has stopped… and the future holds no risk. You will not age. No storms will blow up. No one will be shot or die of the omicron variant. Yes, it is a fantasy world. A make-believe world. A world that exists… but only as a fleeting aberration. Recommended Link [Trump’s Next Move is His Strangest Yet]( [image]( Reports state he’s bought an entrenched complex in foreign territory… But he’s not alone. Something “strange” is happening behind the scenes in America. And it threatens us all. [Click here to learn more]( -- Is the Bubble Deflating? And what’s this? SoftBank, the Japanese company that has [funded many fantasy start-ups]( lost nearly 16% last week. [Cathie Wood]( Ark Invest, that invested so much money in them, lost about the same. And bitcoin… the coin of the new fantasy realm… lost a quarter of its peak value in the last month. How long before the fantasists need to come up for air? Regards, [signature] Bill --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=We all live in a metaversian cosmos). --------------------------------------------------------------- FEATURED READS [House Raises the Debt Ceiling to Avoid Debt Default]( Tuesday, the House passed a procedural bill to raise the debt ceiling and help the federal government avoid default. The bill is going to the Senate now, where at least 10 Republicans have to vote “yes” for the bill to move forward… [Life-Changing Gains From Bitcoin Will Come From Holding Long-Term]( at history,” says cryptocurrency expert Teeka Tiwari. Bitcoin’s numbers may be discouraging for investors, but it’s fared worse and always come back more valuable. While Bill isn’t sold, if you own bitcoin and are hoping for profits, Teeka says to just keep holding… MAILBAG Dear Readers answer the question as to what they are doing to prepare for a long, harsh winter… I am stacking firewood, rice, beans, frozen meat, four Patriots battery solar-power systems, silver coins, 1g gold slivers, and a list of farms to barter with. Also, does the government really run the Federal Reserve? I thought it was the other way around – or that the presidents of JPMorgan and BlackRock run almost everything! A sea of crooks. – Lisa L. Other readers respond to – and criticize – a comment from another dear reader about the importance of wearing a mask… To Jan F. – Yes, when you wear a mask in public, inside or out, you are sending a message: You either can’t or won’t read the mask studies. I don’t wear a mask because I have read the studies. Everyone who read the studies knows masks do not work against respiratory viruses and can cause disease (masks harbor bacteria, viruses and fungi), hypercapnia (buildup of carbon dioxide in the blood) and hypoxia (lack of oxygen). “Everyone” knew this back in 2019. Suddenly, in 2020, “everyone” forgot how to read. – Michelle F. Jan F. needs to do some research and stop giving into the fear. Masks do not stop Covid. There is no data that says they do. When you wear a mask you are saying you live in fear and that the government knows better than you do. If you live that way, there will never be a time when you take off your mask. Most cases of Covid are not severe unless someone has a co-morbidity and is up in age. The best thing we can do is keep our bodies strong through exercise, proper nutrition, and getting enough sleep. Throw in some Vitamin C, D, and Zinc, and you have strong resistance against any virus. – Thomas M. Jan F. is obviously a “Karen” of the first order. If she is wearing a mask, why am I required to? If she wants to wear a mask that has been proven to be as effective as stopping a mosquito with a chain link fence, she can wear the thing; however, she would be better served to keep her self-righteous beliefs to herself. I am surprised that she even reads Bill’s columns. Perhaps she is just one of those poking around looking for ways to justify her own fear and ignorance. By the way: The United States will do just fine. We may skate close to the precipice... or even fall off, but our recovery powers are unmatched. – Patrick D. Finally, thoughts about the harsh winter Bill sees coming (catch up [here]( [here]( [here]( and [here]( Your description sounds like recent experience in Texas! My belief: We need to bolster our energy supplies by having redundancy in the system. Some coal and some nuclear for reliability and knowledge base, some hydro, some gas, some solar and wind, some utility based and some local, even personal. And, we need a concerted effort to retrofit existing infrastructure to a more efficient standard. Worldwide. – John L. Regarding Saint Bill’s musings on systemic breakdowns, I recommend interested readers take a look at Life After Fossil Fuels by Alice Friedemann. The book is a devastating reality check on the probability of running our 21st century society on alternative energy. The energy transition from fossil fuels, whether voluntary or forced by declining supplies, is likely to kill far more humans than climate change. – Jim Z. Could the energy transition be more lethal than the effects of climate change, as Jim believes? Is the virtual world a fleeting fantasy, like Bill says? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=We all live in a metaversian cosmos). IN CASE YOU MISSED IT… [“The 10-Second Trading Method That Helped Me Change My Life” (Live Demo Below) – Jeff Clark]( “Hi. My name is Jeff Clark. 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