Is there Escape from this Hell?

Humanity doesn’t like to live in cages. We’ll find a way out. [Gilder's Daily Prophecy] August 26, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( FDA Calls Controversial New Therapy “Breakthrough” [[Molecule]This molecule]( was BANNED by medical science for 70 years… But after trailblazing research, the gates are open and investment dollars are starting to pour into [a controversial biotech niche.]( It’s not cannabis or stem cells— you won’t believe what it is when you see it. [Click here to see what might become “a $100 billion investment opportunity,” according to analysts.]( [Warning] Do you enjoy receiving Gilder's Daily Prophecy? Please [Click Here Now]( so we know to continue sending you Gilder's Daily Prophecy for free! Is there Escape from this Hell? [Jeffrey Tucker]Dear Daily Prophecy Reader, In decades of public correspondence, I’ve never seen letters like this. They arrive daily in my inbox. They are heartbreaking and tragic. The fury is also palpable. They each betray a sense of existential emergency, truly psychological panic. Many people are terrified for their lives and those of their children. Such are the times in which we live. We are being set up for something really big, certainly a political revolution, but probably more than that. Before getting to the substance, I’m also struck by the vapidity of the mainstream coverage concerning what is happening. I just browsed a New York Times article on the coming recall in California, for example, in which an absolutely tyrannical governor could be knocked out and replaced with a firebrand media pundit with a history of saying politically incorrect things. Instead of hurting him, his statements from the past are helping him. Voters are absolutely fed up. Here’s what’s interesting. The article never once mentioned the governor’s year-and-a-half lockdowns, school closures, mask mandates, business shutdowns, or the increasingly aggressive vaccine mandates. It’s like all the main topics driving the recall effort are not even suitable for public discussion! This is probably on the order of the editors. It creates a strange situation in which there is one reality we see in media coverage and a completely different one from real life! The Sources of Panic In the real world, there is terror in the hearts of many. A man wrote me from Boston, a Harvard-educated, well-to-do money manager who doesn’t want the shot and has so far refused. He fears the effects on his body given certain pre-existing issues, plus he has natural immunities, plus he just doesn’t want the damn thing. But now he sees his opportunities for participating in public life dwindling. He can’t even eat out when he visits New York and the same could happen in Boston. He has considered moving, but uprooting his life to move to a place without friends and family is alarming. And how can he know that his new location is politically stable and won’t do the same thing under pressure of the Biden administration. Truth is that right now, he can hardly sleep at night. This man qualifies a privilege no matter how you look at it. What about the three quarters of African Americans who are being shut out too? So many marginalized communities out there are being completely disregarded. Will they give in as so many do? Hard to say, but we are talking about an extremely aggressive imposition on people's personal lives here. I have many personal friends who face this daily. Another case is a mother of three who decided to go to a school board meeting to speak out against mandatory masks for children, and that is her right. She was immediately barred from attending based on some made-up capacity restriction. She refused to leave, so they harassed her for not having a mask over her nose. She was with 20 others too, and they all got the same treatment. Eventually, the police came and forced them out. They were not finally arrested, but instead dropped off at their respective homes. Next time, they will be. And this is at the hands of the school board of an institution they pay for with their own tax dollars. A third case is from a gentleman in the midWest who last year managed to persuade his friends to go ahead with a horseshoe tournament despite the disease panic. He saw this as a great victory. Little did he know that with Delta, the panic would not only come back but intensify. Now he is being hounded to get the jab. He was told that he cannot practice or perform with a small band in which he has played for 20 years, solely due to his vaccine status. His friends have all turned against him. The Upheaval It’s not just about the lockdowns, plus vaccine and mask mandates. There was already tremendous disgruntlement in American life before all of this, generally over the extreme role of politics in the life, resentment against taxes and regulations, struggles for the control of the state apparatus, US foreign adventurism, the border crisis, the divisive struggles over race and gender issues, and so much more. The extreme Covid measures that continue uncorked all of the bitterness and anger that had built for a long time. I recall thinking that when Trump was elected, that his victory, despite all the hate and dread, was a moderate solution compared with what people were feeling. If he could win in 2016 given his record and temperament, there was a lot else going on. His loss in 2020 was narrow but also represented his failure to be the revolutionary figure that many hoped he would be; indeed, he kicked off the biggest increase in the domestic power of the state in US history. Amazing! So what is next? Whatever it is, it is going to be big, mighty, transformative, and probably good in the end, despite all the sufferings taking place between now and then. There is a substantial part of the American population today that feels like caged animals desperate to get out. The lockdowns were structured to show them who's boss but they only ended up intensifying the fury. Innovate Our Way To Freedom There is a future after lockdown that promises to be better than the present. The power of the private sector to make wealth – unfathomable amounts of it – is still there. Technological know-how has enduring power to survive the worst political attacks. The engine of entrepreneurship can be unleashed in an instant; it only needs the boot off the neck. These are the kinds of issues George Gilder works on daily, attempting to find and flag the great innovations that define our future. He will be speaking at what looks to be a great event: [COSM Technology, November 11-12, 2020, at the Bellvue, Washington, Hyatt Regency](. Anyone can attend; you can get your tickets [here](. [New Federal Rule could change America forever.]( A Message from Your Publisher been preparing for our can’t-miss [Turning Point 2021]( event for nearly three months now. And you won’t believe the action-packed lineup my colleague Keith and I have in store for you! During the event… - Keith will reveal the #1 most common mistake that KILLS investors’ portfolios. - We’ll discuss the secret behind increasing your gains up to 3-fold on George Gilder, James Altucher and Graham Summers’ great stock recommendations. - We’ll unveil a special signal that Keith uses to pinpoint bull and bear markets. - I’ll ask Keith about how to pinpoint exactly how much to invest in every single recommendation we make. - PLUS – Keith will reveal how you can beat even Warren Buffett’s performance, thanks to his secret! To make sure you don’t miss out, simply [go here now]( reserve your spot today. [No more banks. No more accountants. No more Wall Street?]( To explain further, I am pleased to present this special note from George himself: Crossing the chasm of Covid, escaping the snares of Life After Capitalism, doffing our masks and mental diapers, we’re rushing toward the COSM! That’s our new Internet and financial web annual technology festival in Bellevue, Washington. This one is at the Hyatt Regency from November 10th to 12th. The architecture spans and transcends the globe. Speakers will be Peter Thiel, Bob Metcalfe, Kai Fu Lee, Niall Ferguson, Ari Emanuel, Newt Gingrich, Andy Kessler, Jim Tour, Carver Mead, and among others, me. I’ll be debating some of these guys to keep them suitably down-to-earth and cosmic. In particular, I will try to abate the fevers of Gingrich, author of a book on China policy that foresees some benefit from a new cold war, and of Niall Ferguson, who believes that modern technology promotes doom. We’ll be distributing their books, but hey, splashing some cold water on their pages and palls of incendiary pessimism. At COSM, we know better. COSM is a national summit on the realities of ascendant technology and the political myths of economic decline. By objective indices pioneered at Discovery Institute, economic growth is at least twice as fast as the pace measured by economists. Gauged correctly—by the working time in hours and minutes it takes to buy goods and services rather than by the manipulative morass of global monies—the world is now enjoying a golden age of ever-broader-based prosperity. Yet, best-selling books and winning political campaigns focus on stagnation and poverty, pandemic and climate catastrophe. The question is why, and how we can upend the dialog of doom. Up with Innovation! Held in the blessed, sylvan sweet spot of the Pacific Northwest, the summit illuminates the synergy between Seattle and the world and provides a scene of civilized conversation and exchange. It highlights the global tide of innovations from this pullulating pacific haven of leading tech companies and celebrates human creativity and invention, while examining threats to its continued dominance both here and abroad. Provoking debate and deliberation on the cosmic unities fusing apparently divergent technologies and conflicting empires, our mission is to acclaim the accomplishments, while reclaiming the values and virtues that made them possible. From artificial intelligence and blockchain to 5G and WiFi6, from tokenized time to autonomous vehicles, from cloud computing to the biotech revolution, from the “spatial web” to the efflorescence of space flight, it is all ascending in Seattle, and at COSM. Participants at COSM will explore how technology intersects with government regulation, antitrust illusions, international conflict, the “outside trading scandal”, real creative investment, and the triumph of the free human spirit. Through keynote speeches and Q&A, panel discussions, parties, and ample informal gatherings, attendees will interact with national technology leaders, industry peers, and colleagues. But the heart of the COSM is the launch of new paradigms of future technology. In the spirit of my book, Life After Google, we will be introducing a radical new path to transcendence of all the current platforms, social networks, search engines, and content suppliers of the existing Internet. Introducing the new technology paradigms of our era, COSM moves from wafer scale to nano scale, from the reinvention of property in Non-Fungible Tokens to the reinvention of global capital markets on blockchains. We’ll be provoking debate and deliberation on the cosmic unities fusing apparently divergent technologies. The Price of Time Crucial is the time price revolution: the view that the real value of anything is measured by the time it takes for a worker to earn the money to buy it. It sounds simple and even obvious. In my theory, it stems from the information theory of money as time. Money must be scarce to mediate transactional tradeoffs and priorities. Time is the economic resource that remains scarce when all else becomes abundant. Money is the device that enables the scarcity of time to be fungibly translated into transactions and valuations. It’s tokenized time. Everything in economics—indeed nearly all metrics in science—must finally be defined in terms of hours and minutes and seconds. When governments manipulate money, they are really rebelling against time. The time-price method of gauging value and economic progress is a huge breakthrough. It can transform nearly all economic calculations and assumptions, from the rate of economic growth, to the weight of debt, to the degree of inequality to advance of technology, to the impact of atmospheric CO2 to the level of true interest rates. Time-prices open a pandora’s wealth of questions and problems. In science, what is first encountered as an interesting curiosity becomes the key to broad understanding. Signs of magnetism and electricity in amber (electra) emerge as the pervasive condition of all matter and energy. Initial anomalies of shocks and attractions ultimately led James Clerk Maxwell in 1865 to discover and calculate the velocity of light in any medium without carrying out any physical experiments. My daughter, Louisa, wrote a major book on quantum “entanglement,” The Age of Entanglement (Knopf, 2008). The uncanny linkages between photons at huge distances began as an elusive and enigmatic effect. For a long time it was dismissed as a possibly deceptive figment of the statistics or influence of the measuring gear. Now physicists recognize quantum entanglement as a property of all light everywhere. It is the enabler of the growing fashion of “quantum computing” that we will be discussing at COSM. When I wrote Knowledge and Power (2013), I stumbled on time-prices in writing a chapter entitled “The Light Dawns”. It told the story of William Nordhaus, the Yale professor who demonstrated that prevailing accounts of economic history underestimate real economic growth by a factor of nearly a hundred thousand. This is an exponential “oops!” moment, where an existing paradigm resoundingly gives way. Now we face a possible collapse of many favored paradigms in Life After Google and beyond. Climate change competes with COVID as an insidious brain blight afflicting much of western physical and social science, stultifying not only the Nobel Prize committee, but such publications as The New York Times and The Economist. Strange fears have even induced people across the country to cover millions of acres of otherwise useful land with windmill totem poles and druidical sunhenges, and their faces with masks. Strange fantasies induced Time Magazine completely to lose all sense of proportion last year and name as its “Person of the Year” the crazed Swedish 14-year-old Greta Thunberg. But I digress. As explained by Gale Pooley of BYU and Discovery Institute and Marian Tupy of Saint Andrews and Cato Institute, time prices obviate such claims by combining in one number the two key effects of innovation: the rise in wages and the decline in costs. Prices are subjective. Workers decide what to buy with their hours of toil. Gauging the value is only the number of hours and minutes a typical person is willing to spend to earn the money to buy it. Forget all the “hedonic” adjustments and estimates of what things are truly worth. All you have to do is divide the number of hours of work into gross domestic product, however it is calculated. The result is the time price of GDP. If it is a socialist regime, the basket of goods will be heavily determined by some oligarchy. Under capitalism, the oligarchs have to manipulate a political process. Free markets enable the worker to buy what he wants. As Pooley and Tupy show, globally since 1980, despite all the monetary noise and the cultural “headwinds,” workers have been able to buy some 700 percent more goods and services with their hours and minutes. Despite claims of “extreme weather,” agricultural and marine commodities have become radically cheaper. No need to figure out the physical efficiencies and yields of every item in the basket. Just compute the hours and minutes of work and divide them into any monetary measure of the relevant part of the economy. It’s cosmic, and[you all are invited to join the carnival of ideas]( in Bellevue in November. Panic to Panic I adore Gilder’s optimism and you do too. We could use a bit more of that around here right now. Or maybe not just yet. The crisis is real and ongoing and will likely only end in something that will truly make history. At that point, we fold easily into the future imagined here by George, which sounds far more wonderful than the present by any stretch. Hang in there, my friends. Humanity doesn’t like to live in cages. We’ll find a way out. Regards, [Jeffrey Tucker] Jeffrey Tucker P.S. Want to find out how one simple change to the way you invest could help you boost the returns by as much as 3-times? If so, you need to check this out. 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