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PERRIN LOVETT

~ Deo Vindice

PERRIN LOVETT

Tag Archives: economics

Drugstore Cigars [Column Excuse…]

17 Friday Oct 2025

Posted by perrinlovett in Other Columns

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cigars, economics, Pa

Drugstore Cigars

 

Before mass financialization killed American prosperity, say back in 1969, the federal minimum wage was $1.30 per hour. Today it’s $7.25 per hour. As I have calculated before, it would be around $45.00 had wages kept pace with housing costs. It would be $37.75 if adjusted to match the (2750%) increase in drugstore cigar prices since 1969. 

Look at this picture:

(Picture from Click Americana, 2021.)

A Gray Drug facade in some American mall in 1969. The look from the days of Peak America: clean, modern, and without so much gaudy flash as developed near the end of the century. In the center of the photo, one can plainly see the large “Tobacco—Cigars” awning hanging over an aisle shelf and display case. A closer inspection reveals that the cigars, cigarettes, pipes, and accessories are open and available on the shelf. One could just walk right up, select some cigars—El Producto, Dutch Masters, Garcia y Vega, King Edward, Muriels—and buy them like any other product. One could smoke in the mall, there were no idiotic identification checks, and prices were affordable (10 to 25 cents in most cases). This was, kids, before Americans gave away their freedoms. 

Pa, my maternal grandfather, loved Muriel Magnums. He could have probably purchased a box of them in that picture for five dollars or less. If he were still around, I think he’d agree that I should declare victory, hang up all this socio-political-economic bullshit, and just concentrate on writing fiction. He and I would then smoke some Muriels. Well, okay, Muriels are a little hard to come by these sad days; I suppose we’d have to make do with Cubans Rounds or something. Come to think of it, I’m going to go make do right now! (If one just has to have another thousand words, then go back to the Gray photo.)

Fumi vindice

*PL dot com: this is the first cigar post in a while!

The Continuing Experiment

29 Monday Sep 2025

Posted by perrinlovett in Legal/Political Columns

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digital crisis, economics, Enlightenment

What this study calls “a massive social experiment” is nothing new.

A Massive Social Experiment

The digital economy includes “those businesses that increasingly rely upon information technology, data and the internet for their business models.” The companies dominating the digital economy continue to undertake a massive social experiment where they keep the lion’s share of the benefits while shunting the risks onto society as a whole.

This could lead to a systemic digital crisis, ranging from a widespread breakdown of basic infrastructure, such as electricity or telecommunications due to a cyberattack, to an attack that modifies existing infrastructure to make it dangerous.

Keeping all the benefits while foisting all responsibility and risk on the people is how post-Westphalian enlightenment nation-states operate. It’s one of their core purposes. This is exactly how the Virginia Co. operated and how [pick a hedge fund] operates. Civilized countries that care about their citizens don’t allow this.

CBDC Ruble?

05 Thursday Jun 2025

Posted by perrinlovett in Legal/Political Columns

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CBDC, economics, Ruble, Russia

If one wants to see how CBDC might work in a real economy blessed with real money, then one should follow Russia’s experiment set to begin next year.

Implementation digital ruble will hit the interests of banks, but will help in the fight against corruption, aif.ru said Professor, Department of Business Informatics, Financial University under the Government of the Russian Federation Boris Slavin. The first recipients of salaries in the new form of our currency will be state employees.

«To credit wages in digital rubles, a citizen will need to open in one of the banks personal digital wallet, — says the expert. — You can do this through a banking application, where large credit organizations will soon add the corresponding functions. And the salary of the generals in the same amount will come to the account of the digital ruble ».

Note that the e-Ruble will be transferable or convertible to the usual Ruble, and via an easy in-bank process. Also note that most Russians, like most Americans, already make most purchases in digital form. The difference is that in Russia, the government controls the central and commercial banks and the currency, which is backed by real goods. In short, Russia is awash in money and it’s all real. Murikans live under something worse than CBDC already – CBDV, or Commercial Bank Digital VOODOO. So they probably won’t have a chance for this kind of experiment or any return to real money before the coming collapse and dissolution. Still, it’s something to watch.

What Became of the Dollar

09 Wednesday Apr 2025

Posted by perrinlovett in Legal/Political Columns

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dollar, economics, Michael Hudson

MOA offers a look, with analysis, of what passes for economics in the Trumpstein circus act.

Steve Miran is the Chairman of President Trump’s Council of Economic Advisors.

CEA Chairman Steve Miran Hudson Institute Event Remarks – The White House, Apr 7 2025

Today I’d like to discuss the United States’ provision of what economists call “global public goods,” for the entire world. First, the United States provides a security umbrella which has created the greatest era of peace mankind has ever known. Second, the U.S. provides the dollar and Treasury securities, reserve assets which make possible the global trading and financial system which has supported the greatest era of prosperity mankind has ever known.
…
Let me clarify that by “reserve currency,” I mean all the international functions of the dollar—private savings and trade included. I’ve often used the example that when private agents in two separate foreign countries trade with each other, it’s typically denominated in dollars because of America’s status as the reserve provider. That trade entails savings housed in dollar securities, often Treasurys. As a result of all this, Americans have been paying for peace and prosperity not just for themselves, but for non-Americans too.
…
I’m an economist and not a military strategist, so I’ll dwell more on trade than on defense, but the two are deeply connected. To see how it works, imagine two foreign nations, say China and Brazil, trading with each other. Neither country has a currency that is trusted, liquid, and convertible, which makes trading with each other challenging. However, because they can transact in U.S. dollars backed by U.S. Treasuries, they are able to trade freely with each other and prosper. Such trade can only occur because of U.S. military might ensuring our financial stability and the credibility of our borrowing. Our military and financial dominance cannot be taken for granted; and the Trump Administration is determined to preserve them.

From an economic standpoint the theory Miran describes is bonkers.

Bonkers is about the best Trumpstein and his clowns can offer. But this reinforces what I’ve been saying about GAE primacy post-WW2, based on dollars and bombs. And, of course, the idiot clown’s example is already two years into irrelevancy.

Elsewhere, Michael Hudson explains the underlying monetary problems of the GAE and the fact it is the (fake) private debts, not the gubmint IOUs that have destroyed the dollar. TRANSCRIPT

 

COLUMN: “Economic Gain Extracted”

02 Wednesday Apr 2025

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economics, War

“Economic Gain Extracted”

 

Preparing to promote a novel, even while writing another one and lazily revising two more, I may also be formulating a theory regarding the place of the US in the multipolar world. It may be that the Empire of Lies and Cowards may have no choice but to play nice, or to pretend to when dealing with the other great powers, Russia and China. If you’re in a senior leadership position in Beijing or Moscow, kindly keep a wary eye on your new frenemy in Washington.

Concerning the rest of humanity, the US has not changed. It’s all bluster, bragging, browbeating, bribes, and, then, bombs. And regarding those souls trapped in the US homeland, it begins to look like more of the same though with only a slightly different character or hue. 

At one point during the late Signal chat retardery, the lowbrow discussion turned towards all of the vital American interests in bombing houses, convenience stores, and cancer hospitals in Yemen and Europe’s collective inability or unwillingness to participate in the scheme. Someone initialed “SM”, likely Stephen Miller, wrote, “If the US successfully restores freedom of navigation at great cost there needs to be some further economic gain extracted in return.” By the way, bombing poor but invincible people will not “MAGA”, unless as Max Blumenthal says, MAGA really means “Miriam Adelson’s Goals Achieved.” But “economic gain extracted” essentially summarizes the entire purpose, history, and spirit of the American experiment. Being little more than a hitman for the international financial class, the US is always extracting gain for the money masters, everywhere, in everything, and from everyone. 

Scott Bessent, retired hedge fund looter, Soros acolyte, open homosexual, and current Secretary of the Imperial Treasury, was remarkably candid during a recent meeting of the Trumpian cabinet about plans to further the gains of the rich men: “Yes, sir, [Massa Trump, sir]. So, uh, we are, under your direction, we’re reprivatizing the economy. We’re bringing down government spending. We’re bringing down excess employment in the government sector. On the other side, we’re going to re-leverage the banking system…” 

America was founded for the corporations, by the corporations, and of the corporations. Literally, everything it officially does today is designed to enrich the wicked elite by plundering everyone else. Accordingly, re-leveraging the banking system can only mean making the plundering easier. The process is in play in America, along with Yemen, Western Europe, Greenland, Ukraine, et cetera.

Washington reluctantly accepts that it cannot defeat Russia. However, it is hellbound and determined to loot and wreck Ukraine or whatever parts of the former Ukraine survive. Bessent and Trump are trying to force a “deal” on the illegitimate junta in Kiev, possibly more onerous than the Weimar plan that eventually gave the world its second global war. Rumor has it Lil’ Ze has rejected the plan, for now, but it fits the eternal American pattern: poor people and their alleged governments take all the risks and casualties and bear all the expenses, while the banks, hedge funds, and other corporations steal all the resources and keep all the profits. Corporatism is war with other means.

Despite centuries of practice, the US has never been good at regular maneuver warfare. Its power rested, post-WW2, on two things: the perceived strength of the US military, and the perceived safety and universality of the US Dollar. Both things have taken serious hits this century, and now the game appears to be one of frantically trying to leverage bombing with or against predatory financialization. Please keep those seatbelts on, fliers.

The Yemeni adventure is possibly a runup for an even more catastrophic attack on Iran. One truth from the Signal idiocy is that Americans know nothing about Yemen. Iran is another country Americans know nothing about. They’re not likely to learn about either, as now even US college students are increasingly illiterate. Iranians, however, are notoriously avid readers. As are Indians and Chinese, with around 600 million regular readers among each population. The moral of this short column is that my novels need translation into, among other languages, Persian, Hindi, and Mandarin. That’s how I’ll extract my economic gain.

Deo vindice.

Thirty Per Hour

03 Monday Feb 2025

Posted by perrinlovett in Legal/Political Columns

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Costco, economics, minimum wage

Remember all the retarded hand-wringing over the prospects of paying people a $15/hour minimum wage? Remember me saying that wasn’t nearly high enough? Remember the mean old math? Eh?

It’s still not high enough, but IBT reports Costco is about to take a strong step in the right direction by raising US hourly wages to over $30 per hour.

Why’s it not high enough? Math. If labor costs had kept pace – I tire or rehashing this over and over – with other large ticket items (homes, education, medical, etc.), then the current minimum wage would be $40+ per hour. And the overall average salary would be in the $350,000 per year. Instead, we have pushed the mass financialization envelope past the breaking point. $30 will help. But the late increase (by the one company alone) reflects the truth that the last thing that ever increases under this evil and doomed system is pay for ordinary people. Still, very good on Costco and maybe send them some business.

Future solution: 1) real money; 2) cancel the (fake) debts, and; 3) burn the usury-mongers and their pet fanatics and enablers.

Kazan is Coming

16 Wednesday Oct 2024

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BRICS, economics, Kazan

Next week, if I’m not mistaken. I, of course, won’t be there. But the movers and shakers of the multipolar world will, and they will likely unveil continuing changes to the international monetary and economic order. Please read this partly Chinese-based assessment of where things now stand.

As is well-known, de-dollarisation has become a hot topic since 2022, when the United States and Europeans decided to block a large part of Russia’s international reserves in response to the invasion of Ukraine, as described by Yu Yongding. Western officials and experts have traditionally lectured developing countries about the need to adopt ‘confidence-building’ policies and to respect property rights. In retrospect, this is truly amazing. The freezing of Russian assets and the more recent threats to move towards outright confiscation are major ‘confidence-destroying’ steps, doing great harm to the US dollar and the Euro. These actions set off an alarm for countries like China, a major holder of US dollar bonds as part of its international reserves. Any country experiencing conflicts with the US and the rest of the West immediately realised that steps were needed to reduce their reliance on the US dollar and the Western financial system. Efforts were intensified in many parts of the world to use national currencies in international transactions, to build or reinforce alternative payments systems, to rely more on the Chinese renminbi, and even to create a new BRICS reference currency. Undeniably, what we have seen is a major self-inflicted blow by the US and Europe. The three Chinese professors have made in their papers significant contributions to the discussion of all these challenges.

The popularity of the topic of de-dollarisation in wider circles and in the media is not usually accompanied by an understanding of its complexity. There is a widespread expectation that the BRICS will develop, in the near future, an alternative to the US dollar. But is this expectation realistic? Perhaps not.

The goal isn’t or shouldn’t be to replace the dollar – with something of like kind. The postmodern dollar is a one-off irregularity in monetary history and a disaster not to be repeated. By the end of this month, we’ll probably have a better idea of what happens next. Of course, that depends on many chaotic factors (like how long it takes for the US to completely break up). Interesting times.

Hijacked Civilization: Of Genocide and Economics

24 Tuesday Sep 2024

Posted by perrinlovett in Legal/Political Columns

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economics, genocide, Les Lothringer, The West

Les Lothringer wrote an excellent, extended essay on the effects of colonialization, neocolonialization, war, genocide, and more. A long series of self-serving justifications, ever shifting as circumstances dictated, have led Western Civilization to where it stands today, at the very brink. If or when one considers the plight of Western nations today, and the seeming replacement of their populations, one should also consider the uncomfortable past:

That native Indians died out with alacrity in the face of the numerous Spanish invasions was understood within the Anglo-sphere to be due to the bloodthirsty cruelty of the Spanish occupiers, well known as it became, yet when similar and larger outcomes were observed as a result of Anglo-Saxon intervention in The Americas, other self-serving explanations became necessary. Daniel Denton (1626 – 1703) American colonist provided the necessary anodyne explanation that “Where the English come to settle, a Divine Hand makes way for them by removing or cutting off the Indians”. Yet, religious explanations proved insufficient and internally contradictory for those with a close acquaintance with biblical prose (certain of). Biological explanations came to replace the religious. All of the exterminated were people of colour and so it was a self-evident truth, an axiom really, that racially based Natural Law was in operation, thus the genocide of the non-European was a stage in the natural evolution of the world. At this point, the Science of Genetics was yet to emerge as it was variously believed then that there were between three and five human species on the planet, rather than one, a now settled matter further discussed below.

Read the whole thing, and thanks for Les for sending it to me.

Usury = Control = Collapse

02 Monday Sep 2024

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economics, Michael Hudson, usury

Another must-read from Dr. Michael Hudson, with video.

My articles about the origins of credit, money and interest share a common frame of reference. From the inception of economic practices and enterprise in the ancient Near East down through classical antiquity and medieval Europe to today wealthy classes have wanted to make themselves into an oligarchy in control of their government and religion to protect, legitimize and increase their wealth, especially their rent-extraction privileges as creditors, monopolists or landlords.

That should be the context in which one looks at every epoch’s economic view of the world, above all its perspective concerning how “free” a market should be, and just whose freedom is being endorsed. That has been the great question throughout the history of civilization, from the Bronze Age Near East when rulers regularly proclaimed Clean Slates to restore economic order to check incipient oligarchies, through the five centuries of civil war in the Roman Republic and Jesus’s fight against the emerging Jewish oligarchy, to today’s civilizational fight between the NATO West dominated by U.S.-oriented rentier oligarchies and the global majority centered now on the BRICS.

We see the same fight through the ages by financial elites opposing any government power able to restrict their self-serving rent-seeking and creditor power at society’s expense. We see it today in the pro-creditor economic policies of the International Monetary Fund, the World Bank and the “libertarian” ideology, all of which seek to centralize power to allocate resources and plan economies in the financial sector instead of democratic government. Today’s neoliberal idea is to get rid of government authority (except where it is controlled by the rentier sectors) and let banks in the privatized financial sector control money and credit, which is the most important public utility.

China’s government has financed its remarkable industrial takeoff without having to borrow from private creditors. There was little money to borrow from its domestic population, so the Bank of China printed its own money. Unlike typical financial practice, it did not demand personal wealth to be pledged as collateral, because stock and bondholdings or substantial real estate did not yet exist. The government did not need to turn to bondholders to increase its public spending – and in any case, there were no domestic bondholders to borrow from in the wake of its Revolution.

China, Russia, and Iran are simply continuing the practices of previous nations that, wanting to exist, limited rent seeking. Any nation that did not impose substantial limits on the financial vampire class soon ceased to exist. That explains why China, Russia, and Iran will be around in 2030, 2050, and 2100, while the GAE and it’s ilk will fade into history. Dr. Ron Paul aside, virtually no GAE leader of the past 50 years has even dared think about doing the things that might have preserved America. The two clown puppets of 2024 are no different.

A Western Detour

24 Saturday Aug 2024

Posted by perrinlovett in Legal/Political Columns

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Christianity, economics, Michael Hudson, The West

And not a good one. Here’s the transcript of an interview with Dr. Michael Hudson about the centuries long decline of the West. I highly recommend the whole thing.

Dr. Hudson: Well, Protestantism was created by the financial interests. Here was the problem that bankers had. If they lent money to the Catholic kings, the Catholic kings were so oppressive that they kept going bankrupt. They couldn’t raise the money to pay for the wars, and they kept defaulting. And what the banks wanted was the modern national state. They wanted states that had a parliament that, instead of opposing debts, as they did under the kings, parliaments would be willing to borrow money to wage wars to defend themselves against the Catholics who were attacking them, by pledging all of the revenue of the whole population. And the modern states, as the power to tax and pledge public debts, were essentially created with constitutions to satisfy the banking interests, enough to be able to raise credit. And the modern states, ever since the Protestant Reformation, have become basically agents of the international financial class.

As there is no new column here this week, I thought the foregoing would be a good substitute. If you want to read me on something, then just type your pet subject into the search bar. Odds are that somewhere over the past 12 years I’ve covered it.

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Perrin Lovett

From Green Altar Books, an imprint of Shotwell Publishing

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