The Christmas of Our Discontent

The ruling class these days seems strangely happy about poverty and decline. [Gilder's Daily Prophecy] November 15, 2021 [UNSUBSCRIBE]( | [ARCHIVES]( Rickards on Bitcoin ETF: “That’s the last straw!” Up until now, macro-economic wizard Jim Rickards has gone pretty easy on cryptos. But now that crypto-currency ETFs have hit the scene, [he’s taken off the gloves.]( So before you make any crypto plays… Either directly — or through these new funds… You really need to see [Jim’s new three-minute video.]( In it, he reveals a new way to play REAL currencies that could make you forget all about the “fake” ones. To see his urgent warning, just [click here.]( The Christmas of Our Discontent [Jeffrey Tucker]Dear Daily Prophecy Reader, I’m typing in front of a window. It’s daytime, but it is dark outside. The wind is howling in a spooky way, like you hear in movies. The ground is soaked from rain that is still hammering pavement and parked cars. Temperatures are dropping. I’m safe inside, but everything outside this window looks bleak. Winter is coming. I hear sirens in the distance. Police and fire. What happened? I do not know. I’m better off not knowing. Forgive my superstitious ways, but it all feels like a vast metaphor. Two years ago, the economic conditions under which we currently live would have been inconceivable. Today we are inundated with grim. Goods shortages. Labor shortages. Falling real wages. Rising prices for everything. Gas prices soaring. Taxes rising. Restrictions and mandates driving people to retire early. Masses of people fleeing blue states for red ones. A housing market driven mainly by panic buying and selling. Plus censorship, bullying, lying, and general entrenchment of immorality across most of public life today. Oh, also, the computer chip — the thing we learned to deploy to manage almost all aspects of our lives — is in gravely short supply with no hope for relief for another year or two. Part of my daily habit is to visit stores of various sizes specializing in a variety of things. Each day the inventory grows thinner with random shelves and racks emptied. Products once available in abundance are gone. Talk to employees and you get an earful about tremendously long hours and how no one is around to take their place in the event of absence. Distributors and suppliers tell tales of a lack of goods. And now comes winter with high heating bills. People in the middle income range are having to switch from beef to chicken, from fresh vegetables to bread and rice, and skipping holiday travel to save money, just so that they can be sure to have resources to heat their homes. It’s an astonishing thing to observe and experience in the United States, a country that most everyone assumed was capable of moving from great in 2019 to ever higher levels of greatness. We went from the heights to the depths in a faster period than anyone experienced after 1929. Add to that is the tremendous loss of trust in everything from media to politicians to experts to courts to law. Public anger is on the rise. Life Under Lockdown Based on the rising cases of Covid we see in the highly vaccinated countries of Singapore, Iceland, The Netherlands, and most of Europe (except Sweden!), we can fully expect the same here in the United States within the next two months. It takes one’s breath away to consider the terrible reality that they could attempt lockdowns again in New York, Massachusetts, Rhode Island, and other northeastern states. The reality is that they have not learned the lesson. They aren’t much better off intellectually now than they were two years ago. This could happen. It’s the only model they know. The New York Times ran a chilling op-ed the other day, the thesis of which was: you will get used to poverty and you will like it. It has Maoist overtones. The paper runs this stuff with no awareness of how mortifying this kind of content is. The ruling class these days seems strangely happy about poverty and decline. It’s grotesque. The only thing that seems not broken is Bitcoin and other tokens in the crypto sector. While most everything else is a wreck, these have all performed magnificently for two years. They never shut down, never got hacked, never stopped providing services, and have become a safe haven for the entire world economy. The prophet of our age is Satoshi Nakamoto! Former CIA Advisor: “They are LYING about inflation!” Despite the circus of distractions you’re hearing on the news... The lies and the misdirections... There’s one former CIA and Pentagon insider revealing the TRUTH behind the inflation numbers in America. A story so shocking and so powerful that it could bring the Biden Administration to its knees. You might have known something strange was going on in America, but I can guarantee you weren't expecting this. [Click here to see the story the mainstream news is trying to bury.]( The Way Out There seem to be three essential changes that we need to right this ship. First, we need political change at all levels. The bad guys have to be thrown out. We can only hope that they will be replaced by better guys, but that is not obvious. There is no salvation through the Republican Party. There are a few good people who are brave and principled. That does not describe most of them. In general, they are less insane than the other party, but that is not a very promising path. Second, we need somehow to embark on a dramatic cultural change. We need to believe in freedom again. We need to believe that people have rights. We need to take pride in the best of our history. We need to learn that history. We have to stop with the hate based on identity politics and start imagining the possibility of peace, prosperity, and social cooperation again. Nihilism needs to be replaced by meaning. That is a daunting and long-term project. Third, we need dramatic institutional change. We must reform the courts so that they work. The medical system needs a complete overall, and it needs to happen before it collapses even more. We need to restore the old notions of equality under law, a system that aspires to the emancipation of everyone from oppression and despotism. We need a system of laws that cannot be deleted at the latest public fear or the onset of some random crisis. Those three paragraphs sum it all up. We should not give up hope that it can happen. But that kind of change is only made possible when societies have hit rock bottom and lost all hope in the existing paradigm. Are we there yet? I fear not. My fear is that we have a long way to go before we reach that point. Even if we do, and the process of rebuilding does take place, it could be decades away. Meanwhile, our lives are at stake and those of our children and their children. This newsletter speaks often of economics and finance. But there is something even more important to a life well lived. We need hope. We need health. We need strength of character to endure hardship. We need the willingness to stick to and act on what is true and right regardless of what is going on around us. It is too easy to observe darkness outside our windows and embrace it as inevitable, as if we are powerless to do anything about it. We cannot stop the rain. We cannot bring the light. We cannot change the seasons. But it is in fact possible to live life, stay hopeful, and care for yourself and those you love. This is the most important single way to get through these times. This is essential to the rebuilding that must occur. Regards, [Jeffrey Tucker] Jeffrey Tucker SHOCKING Map of the U.S. Reveals MASSIVE Profit Opportunity I just saw this map of the United States that blew my mind… This isn’t a cellular coverage map… Or a map of high-speed Internet coverage in the U.S. But it IS a map of what the U.S. could look like in just a few short years… All thanks to [one unstoppable trend]( that’s already underway. I did some digging… And I found one tiny stock that could absolutely skyrocket as this trend kicks into high gear. [Click here to discover all the details about this one tiny stock]( – and the MASSIVE, nationwide trend that could send it soaring. [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy](. 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