Economy
We Don’t Need The Great Reset, We Need The Great Rebalancing
Perhaps we have collectively “lost our mind.” Perhaps what we need is not a new technology but a new way of living that uses existing technologies to echo “old ways” that worked rather well on much lower energy consumption.
The Great Reset is much in the news–the proposed top-down plan for combating climate change designed by the global elites, who then as now will be jetting around in private aircraft while dictating exactly how the rest of us will reduce our carbon footprints.
CDC Likely To Extend Eviction Moratorium With Millions Of People Behind On Rent
The Centers for Disease Control and Prevention has taken a key step toward extending an order aimed at preventing evictions during the ongoing COVID-19 outbreak. The CDC order is currently set to expire in less than 2 weeks.
Housing advocates have warned for months that allowing this protection for renters to lapse would spark a tsunami of evictions, putting upward of 1 million people out of their homes.
Richest 1% of Americans Hide a Fifth of Their Income From the IRS
More than 20% of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated.
Random audits of the rich can detect some tax evasion, but the study’s authors found that the IRS easily misses income hidden in sophisticated ways, including in private businesses and offshore structures. Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.
Indicators of the Week! Interest Rates and Global Poverty
As we’ve been doing on Fridays, we have some new indicators of the week to share! Stacey and Cardiff each pick an indicator that they came across that they find to be really striking, surprising, insightful, informative, or that just blew their minds.
Our first indicator is almost zero. This is where the Federal Reserve said that it is going to keep interest rates until the year 2023. Low interest rates are supposed to help the economy by convincing businesses and individuals to borrow money, keeping money flowing through the economy. However, there is always this tension with keeping interest rates low: inflation, or rising prices. Nevertheless, the Federal Reserve has signaled that they are prioritizing growing the economy first, and then dealing with inflation later.
Headed For A Collapsing Debt Bubble
A $1.9 trillion stimulus package was recently signed into law in the United States. Can such a stimulus bill, plus packages passed in other countries, really pull the world economy out of the downturn it has been in 2020? I don’t think so.
The economy runs on energy, far more than it operates on growing debt. Our energy problems don’t appear to be fixable in the near term, such as six months or a year. Instead, the economy seems to be headed for a collapse of its debt bubble. Eventually, we may see a reset of the world financial system leading to fewer interchangeable currencies, far less international trade and falling production of goods and services. Some governments may collapse.
New SBA head plans changes at agency; focus now is COVID-19
The new head of the Small Business Administration says she expects to make changes at the agency that she says will enable it to further help small companies devastated by the COVID-19 pandemic.
In an interview with The Associated Press on Friday, two days after she was sworn in, Isabella Casillas Guzman said her immediate focus is implementing the small business provisions in the $1.9 trillion coronavirus rescue package President Joseph Biden signed into law last week.
Energy
Will Clean Energy Kickstart A New Resource War?
What will the world look like when oil is no longer a leading force in global geopolitics? Some of the world’s leading research organizations, universities, and even some countries are hard at work trying to answer just that question. The Rand Corporation, which has been designing war games alongside the Pentagon for nearly 70 years, is now aiming its arsenal of brainiacs toward the newest pressing geopolitical question: what will the green energy transition do to the world?
Gold & Silver
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The post Daily Digest 3/22 – We Don’t Need The Great Reset, We Need The Great Rebalancing, Richest 1% of Americans Hide a Fifth of Their Income From the IRS appeared first on Peak Prosperity.
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