Posted on 07/08/2021 2:09:55 PM PDT by blam
We are entering the age of "Full John Galt." This is a time where society and politicians are rapidly dismantling the rights of ownership. This transfer of rights constitutes a transfer of wealth whether we wish to call it by that name or not. This is a time when people can just walk into a small privately-owned convenience store, then, without paying walk out with an arm full of merchandise with little or no ramifications. This is a time when government deficits have lost all meaning and people are being paid not to work. This is a time when saying what you feel can garner you massive negative attention and ruin your life.
The idea the economy can be planned by a central force has yet to succeed anywhere. The failings and ills of such programs are rooted in the fact that central planning tends to produce enormous unintended malign effects owing to erroneous incentives and price signals. The new mechanisms of socialist control often created to guide the economy are generally not up to the task of maintaining control. In the old Soviet Union, for instance, nail factory managers got measured and rewarded by the tonnage produced. The story goes that one enterprising factory started massively exceeding its quota by producing only ten-ton nails.
Social Unrest May Be Unavoidable
A slew of news headlines give the impression we as a society are on the verge of becoming unhinged and totally dysfunctional. We, as a population have become polarized and poisoned by the decisive messages flowing from those with self-serving agendas. With governments and various agencies busy issuing mandates and ordering things like a halt on evictions while they lock down cities, it is difficult to argue this is business as usual. Big tech seems to be guiding much of what we see and even the government appears under its spell. Add to this the constant flow of propaganda from mainstream media and the drumbeats of war that are growing louder and it is easy to claim, we do indeed live in interesting times.
Recent headlines such as the condo collapse in Florida and hints that many other towers may also be in a precarious condition sends shivers down the spine of those living there. Signs of poor construction or architectural incompetence does little to comfort those that have invested their savings in these buildings. The financial ramifications that could flow from this event are enormous. It may reshape or massively increase the cost of getting a mortgage or insurance on many buildings.
Another concern is the lack of concern about political corruption. Even the recent headlines about House Speaker Nancy Pelosi (D-CA) disclosing that her investor husband made several now-profitable trades in various securities brought hardly a stir or screams of insider trading. Her husband bought Amazon calls on May 21 when it closed at $3,259.05. This was just six weeks before the Pentagon suddenly pulled the rug out from under Microsoft's $10 billion JEDI cloud computing deal. This has caused Amazon's stock price to soar by giving Amazon and Bezos a good chance of landing this very lucrative contract.
Debt Is Now Above 28
Like so many people linked to Washington decision-makers, it seems Paul Pelosi has done very well in the markets, according to Fox Business, "The speaker has no involvement or prior knowledge of these transactions," and "The speaker does not own any stock." Yes, this is a time when such thinking is not only common but acceptable, and yes, this is a time when many of the hard-working people and savers that made America famous are being thrown under the bus.
The Government-Financial complex, a combination of the Fed, the too big to fail, and the government has become a great threat to our freedom. Following the 2008 global crisis, the authorities acting primarily to prop up governments and the economy took actions to save the financial system by bringing big banks deeper into the fold. Over the years, as the Government-Financial complex and big tech came together the mix of concentrated power they now yield has become toxic. All this has resulted in a false economy and a soaring national debt that is now over 28 trillion dollars.
Their argument that it is better to intervene heavily in markets rather than do nothing repeats the mistakes that created the Great Depression. Lawyers and politicians historically garner rather low marks when it comes to ethics. Ironically, we allowed these same people to pound out the 2,300 plus pages we call the Dodd-Frank Act. This is said to be our new shield from abuse. With this in mind, we should not be surprised the steps taken over recent years to save the financial system have resulted in destroying true price discovery and led to the creeping nationalization of markets.
/A>
A Symbol Of Despair And Hopelessness
What does it mean when someone says ' Who is John Galt'? The website https://www.quora.com/ came up with the following answer; In the classic book “Atlas Shrugged”, the phrase Who is John Galt is a cry of despair and hopelessness. It describes a situation wherein the pistons are removed from an engine making that whole metal mass of a car useless. The pistons form a small part of a vehicle’s mass, but provide the entire reason for a (petrol) car’s existence. Similarly, most great organizations and societies are moved by a small group of people — the innovators. When those are removed, the entire thing falls apart.
They go on to note that the engine is usually among the last parts of the car to give up. When the engine gives up, it usually marks the vehicle's end. While we may not be at, our end, or the end, it is understandable why so many of the most capable contributors of our economy are now moving towards the sidelines. Capable and smart people do not have to work hard to make ends meet and are proving this by going out and enjoying life rather than working to support those that won't. When people decide to remove themselves from a game they see as rigged in favor of those far less deserving it is an indication that at some point even Atlas will shrug and let the world fall.
Behind The Decision To Remove A Statue Of Robert E. Lee
"Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the Party is always right. -- George Orwell, "1984"
Atlas Shrugged ought to be required reading in all high schools with a comprehension test given at the end.
The Democrats have to remove all the statues reminding us of when the Democrats literally fought a war to keep blacks in chains.
I agree.
I used to give this book as a gift to seniors who invited me to their graduation.
Here’s what our local communist rag just published about the new Colorado state law relieving the legislature of any responsibility for adherence to the constitution.
“The law, signed June 19 by Gov. Jared Polis, allows local governments to enact regulations or laws governing or prohibiting the sale, purchase, transfer or possession of firearms, ammunition or accessories. There were four primary sponsors, including legislators Sen. Steve Fenberg, D-Boulder, and Rep. Edie Hooton, D-Boulder.”
Our council in Longmont had a semi-secret meeting last night about how they’re going to put a boot on every ones neck. That’s just my take though.
Where are the protections from tyranny here? I heard (haven’t verified it) that they based this on a 1902 law allowing cities to do basically anything they want to.
I’ve read it three times and got something new each time, I encourage people all the time to read it
I agree with the premise of the article are going full John Galt personally I think everything crashing and burning is inevitable the question remains what happens afterwards
You load 16 tons, what do you get?
Another day older and deeper in debt
St. Peter, don't you call me 'cause I can't go
I owe my soul to the company store
I was President of a company. 7 years ago I quit. I never looked for another job. I felt that being a white male meant that I was not wanted on boards especially since I am a conservative. I just hung up everything and retired at 53.
Our current set of CEOs seem to be OK with government encroachment, and are even helping to participate in it.
I see no John Galt's out there.
Was McAfee trying to "Go Galt?"
Bkmk
-PJ
still got the book and all 3 movies
My last job was a contractor at an Air Force Base, where I had to deal with the early “woke” US Air Force.
As a single and later, married white male, Army vet and straight, I had to walk a careful line. The USAF is cultivating an environment where color and gender are more important than mission accomplishment.
I retired, and never looked back. The Rat Race has got to get along with one less Rat!
In the audiobook version, Galt’s speech lasts about 3 hours or so.
The typical response will be TL; DR
(Too Long, Didn’t Read)
I retired at the end of 1994 at age 51.
I was a chip-maker since 1967.
I had a (Unattended) racial sensitivity training meeting still on my calendar when I left.
(I used to say I am in Galt's Gulch, I don't know why I don't anymore.)
So I just had an idea...I know, “don’t hurt yourself”. The next time I hear someone say that socialism/communism hasn’t worked is because the right people haven’t tried it yet, I will tell them that they are a racist of the worst sort.
Where has it failed? Cuba, Venezuela, China, to name a few. And the people pushing for socialism/communism? Usually white.
“So what you’re saying is that it will work when you, the white man, does it because the “wrong” people where trying it before. You know, brown and yellow people.”
The novel used to be a work of fiction.
the beautiful and highly functional Republic of the USA that we enjoyed for so long was an aberration from the norm of human history which is tyrannical control of the populace through violence, intimidation, withholding of food, information and education. Unfortunately, it’s unlikely what comes next is on par with what we, as Americans, have experienced in the past.
“Our current set of CEOs seem to be OK with government encroachment, and are even helping to participate in it.”
In the 1950’s, when Atlas Shrugged was written, the career path to CEO was through sales and marketing or manufacturing. Either career path required measurable accomplishment and actual creation of value for the organization and its customers.
Today the career path to CEO is through finance or legal. These are administrative careers, not value creation. The path to CEO is more a political walk rather than creating products of value to customers, finding customers, or making things more efficiently. In fact many of today’s financial CEO’s destroyed value by offshoring production to contractors, stock buybacks, and failed mergers and divestitures. It is noteworthy the CEO to worker pay ration has increased 1,000 percent since 1950. Financial CEO’s manipulate numbers to pad their wallets. Few create real lasting value for the shareholders or customers.
Look at the destruction of once great companies and industries in the US since 1950. Auto industry, steel industry, consumer electronics, consumer appliances. Retail - Sears, JC Penney, Kmart, and hundreds of other retail companies. Leverage buyouts, private equity takeovers, and mergers have resulted in assets being offshored, cash siphoned off to management and investment banks. Competitive advantages were squandered and innovation stifled.
Ayn Rand, the author of Atlas Shrugged knew CEO’s who made things, created things, and sold things of value. The concept of a CEO stripping assets to buy back stock to drive the stock price and the value of his stock options was inconceivable in 1957.
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