This Economic Destruction Is Man-Made

This Economic Destruction Is Man-Made
Federal Reserve Chair Jerome Powell (L) speaks as President Joe Biden (R) listens during an announcement at the White House in Washington, on Nov. 22, 2021. (Jim Watson/AFP via Getty Images)
Jeffrey A. Tucker

It’s codified now: Europe and the UK are in recession. The United States is, too, at least technically, and we're only awaiting an admission. The Federal Reserve has reduced its economic growth expectations to near zero, but the emerging housing meltdown will likely seal the deal: It’s an inflationary recession, also called stagflation.

The Fed has underscored its intent to keep raising rates until inflation gets under control, but there's no doubt that this path is also recession-inducing.

Savings are falling, debt is increasing, high-end job holders in the corporate world are feeling ever less secure, and the migratory inflationary virus keeps biting in unexpected ways. You know about this if you've bought butter and eggs recently, or received your monthly utility bill. In real time, electricity—that thing that was supposed to save us from the high cost of gasoline—is increasing 14.5 percent year over year. And they keep trying to force electric cars on us.

President Joe Biden can tell interviewers daily that inflation is moving up just barely an inch, but he's contradicted by the Fed chairman’s words and actions. Absolutely everyone knows that whatever comes from the White House at this point is propaganda.

Beneath all the data, there's a deeper fear developing out there that we're truly on the precipice of disaster that can only get worse. The big concern is something that can't be quantified: It concerns the regime itself and its response to the emerging crisis. What precisely will they try next?

The past 30 months that began with disgraceful lockdowns have been a dress rehearsal. We were all being acculturated into compliance. The elites who did this to us might be evil, but they aren't entirely stupid. They knew that sheltering at home wouldn't make a virus go away, and they knew that spending and printing $6.3 trillion would cause inflation.

Why did they do this? It’s part of an agenda. The real concern is that they are trying to change the way of life on Earth. This isn't a conspiracy theory. It’s not even a theory. It's what the World Economic Forum (WEF) says it's doing. It claims to be remaking cities by means of people control.

Consider an article that just popped up on the website of the WEF. It's called “My Carbon: An Approach for Inclusive and Sustainable Cities.”

It says that cities, as we know them, have to go because “cities across the world account for almost 75 percent of our total carbon emissions. As countries move towards implementing their pledges for a net zero future, urban areas will remain the action ground for decades to come.”

This isn't the first time we’ve seen evidence that these people hate cities. Anthony Fauci wrote this during the most intense period of lockdowns. Getting rid of cities and the freedom of movement and enterprise is the whole point. They want to drive us to some kind of techno-primitive utopia of their own making. See his piece from Cell published in August 2020. He wants to “[rebuild] the infrastructures of human existence.”

The WEF says that this was the whole point all along:

“COVID-19 was the test of social responsibility—a huge number of unimaginable restrictions for public health were adopted by billions of citizens across the world. There were numerous examples globally of maintaining social distancing, wearing masks, mass vaccinations and acceptance of contact-tracing applications for public health, which demonstrated the core of individual social responsibility.”

See how it works? They get you to shelter in place. They convince you that it’s OK to shut your church. They tell you that your breath is poisonous, so you have to cover your mouth and nose. Then, they tell you that your friends, neighbors, and family are a danger, so don’t stand too close. Then, they tell you that small businesses are spreading disease, so they, too, have to go. Schools have to go, too.

Now that they know that they can do it, there's more to come. They will lock you down for any reason now, including an economic crisis. But it doesn’t even have to be an impending crisis. It can be for a forecasted crisis such as climate change—a phrase that replaced "global warming" because it's vague and eludes the obligation of an empirical test.

The point is that the ruling-class-run state, in every country, faces an existential crisis. It has been true for decades that most of the world’s population have lost confidence in the capacity of government to manage the world well. They have flopped at absolutely everything, so, therefore, the excuse for despotism has to keep changing. The deployment of the old “infectious disease” canard was held onto for decades until it became necessary.

The ploy worked brilliantly.

The root of the problem here is a powerful ruling class that's utterly disconnected from common sense and the common experience of regular life. They've grown so detached that they live in their models and dream only of their theories. They decided one day that the whole Earth should be powered by wind and sun and decided to make it so.

Next thing you know, Europe faces rationing and the choice between food and fuel. The currencies are being destroyed. Life spans are shrinking. The pharmaceutical companies are rich, as are the states themselves, while the rest of the population is being driven to poverty. Economic growth seems like a thing of the past. This is the crisis the world faces today.

I’ve predicted for the better part of a year that all of this will eventually blow back on the managerial class itself. Sure enough, Gap just announced that it's cutting 500 jobs from its corporate headquarters. This is because of a profit squeeze. Companies are looking around for places to cut to save money, and they are targeting the stay-home-stay-safe crowd, the people who imagined that life was perfect because they could move from doing nothing at the office to doing nothing at home.

Life was good! But now the Zoomers are being fired on grounds that their supposed work is utterly useless. This trend is going to continue. Technology has enabled a whole generation of credentialed people earning six figures to pretend to work while they're really just goofing off. But they're being found out during the profitability squeeze.

These people might find out eventually what it's like to work for a living.

It's now more than obvious that the plans and schemes of the central bankers, public health bureaucrats, and intellectuals didn’t pan out as planned. A panel put together by the Department of Health and Human Services has come to the conclusion that perhaps two-thirds of Americans are currently experiencing serious anxiety disorders. That helps make sense of why every U.S. city currently reeks of pot.

But here's the thing. If government ends up forcing large swaths of the population into mental health treatment, we already know the results. They will be prescribed more meds. Then, if they're on a list for being crazy people, they won't be allowed to purchase firearms, meaning that this might also be a method of introducing gun control by other means.

With even Biden now saying that the pandemic is over, there's a massive scramble to settle scores on what went right and wrong and who's to blame. Early reports suggest that nothing went right, everything went wrong, and absolutely no one is to blame. Especially escaping blame is Fauci himself, who says he never locked down anyone and never funded the Wuhan lab to conduct dangerous research.

In the end, we’ll discover that no one is to blame. It was all done by a bunch of committees, no member of which bears any individual responsibility. It was set up this way from the beginning. The whole crisis is man-made. We could have dealt with the virus as responsible individuals, but instead, public health bureaucrats were tasked with the impossible and given a free hand to violate human rights all over the world.

One might also suppose that since everyone seems to agree that the lockdowns were a disaster, the emergency declaration would end. That can't be permitted to happen because then the vaccine would lose its approval status. That's one reason the emergency must go on and on. There's still more money to be extracted. The other reason is that they have enjoyed the power.

Then, there's the next round, which we can fully expect to begin in November or December. There will be de facto price controls, more surveillance, fuel and food rationing, and more pressure to abandon the car and move to rural areas to forage for food. The state has become sadistic. It's nowhere near done with us.

None of this is a secret. A growing number of people are catching on. The polls don’t capture this well, simply because people don’t trust the person at the other end of the phone line. The only things that remain of people power are the ability to speak to trusted friends and to vote. Mark my words: The people won't give up easily. We're in for a shock in November.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Jeffrey A. Tucker is the founder and president of the Brownstone Institute, and the author of many thousands of articles in the scholarly and popular press, as well as 10 books in five languages, most recently “Liberty or Lockdown.” He is also the editor of The Best of Mises. He writes a daily column on economics for The Epoch Times and speaks widely on the topics of economics, technology, social philosophy, and culture.