Bubble

NEWS!

Russia Falls Off U.S. List

 of Major Holders of Treasuries

Once among the top 10 foreign owners of Treasuries, the country’s holdings of U.S. bills, notes and bonds in May fell to $14.9 billion, below the $30 billion threshold for inclusion on the Treasury Department’s monthly report of major holders. 

 Our Institutions are Failing

The mainstream media and its well-paid army of "authorities" / pundits would have us believe the decline in our collective trust in our institutions is the result of fake news, i.e. false narratives and data presented as factual. 

This mainstream narrative is itself false: our institutions are failing, and the cause isn't fake news or Russian hacking--the cause is insider plundering and collusion, aided and abetted by a decline in transparency and accountability and the institutionalization of incompetence. 

The same can be said of every other cartel plundering the nation: healthcare (i.e. sick care, because profits swell from managing chronic illness, not from advancing health); the Big Pharma cartel; the military-industrial complex; banking; student loans; the governance-lobbying cartels; the war-on-drugs gulag, the FBI and so on in an endless profusion of insiders whose self-serving plunder and gross incompetence rarely generates consequences (such as being fired or indicted) due to an absence of accountability and transparency. 

Our institutional failure reminds me of the phantom legions of Rome's final days. Legions existed in the bureaucracy, and payrolls were sent to the pay masters, but the Legions were mere fictions--there were no soldiers, and no fighting force; there were only a few insiders skimming their take, confident that accountability and transparency had been irrevocably lost.

 DYI