Accelerating US Decline, Risking Doomsday Along the Way
by Stephen Lendman
Dominant Biden regime hardliners risk destruction of planet earth and all its life forms by recklessly pursuing war on humanity at home and worldwide.
Its proxy hot war on Russia took a giant leap forward on Tuesday.
By a 368 - 57 vote majority, House members adopted another $40 billion to Nazi-infested Ukraine for weapons, munitions and military equipment.
Within days, overwhelming Senate rubber-stamp adoption of the measure is virtually certain — to be followed by enactment when the fake Biden signs the measure into law.
The above waste and fraud comes when new Lend-Lease legislation became US law for the first time since WW II — to supply Ukrainian Nazis with more weapons et al for Russian forces to destroy on arrival or shortly afterwards.
Burnishing his buffoon credentials more than already, puppet Zelensky tweeted the following delusional rubbish:
"Today's signing of the law on Lend-Lease is a historic step (sic)."
"I am convinced that we will win" — what's already lost.
All of the above comes at a time when US proxy war on Russia risks advancing to full-blown East/West confrontation.
It's also at the expense of vital homeland needs gone begging at a time when reckless Biden regime policy disrupted supply chains — what caused shortages of food and other essentials.
Its sanctions war on Russia — the most extreme in world history — caused a global energy crisis.
Restricted supplies sent prices skyrocketing higher along with soaring inflation overall.
When the cost of energy rises to its current level — likely heading much higher — recession virtually always follows.
Russia is the world's largest exporter of natural gas, lumber, wheat, fertilizer, and palladium.
It's the second-largest exporter of oil and aluminum, the third-largest exporter of nickel and coal.
It's a major uranium producer, what's essential for US and world nuclear plants to operate.
Along with what the US imports from allied countries, what Russia supplies provides electricity for 20% of US residences.
Pre-US/UK/EU sanctions war, Russia supplied about 40% of Europe's energy needs.
According to energy consultancy firm FGE head, Fereidun Fesharaki:
"The global market cannot survive without Russian oil, and certainly Europe cannot survive without Russian gas."
Yet EU regimes are heading toward embargoing Russia oil entirely — if a dominant majority gets their way.
Taking this step as far as they dare — along with restricting Russian gas imports — will benefit US energy producers hugely at the expense of European economies and their people.
By bowing to the diabolical will of dominant US hardliners, European leaders virtually assured hard times ahead — what's likely to be severe and protracted as long as their harebrained policy lasts.
What benefits US privileged interests comes at the expense of most others.
As energy prices keep rising, gasoline reached a record-high this week, what's likely to head higher.
Diesel fuel especially skyrocketed higher.
It's having a major negative effect on truckers, farmers and trains powered by diesel.
The same reality applies to food.
High prices likely going higher increased food insecurity for millions of US households.
All of the above could have been avoided but wasn't because of recklessly harebrained policymaking.
Noted market analyst Jeremy Grantham explained that things evolved into an "epic bubble," adding:
"Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believe this event will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000."
Market behavior this year suggests that what's likely to be called the mother of all bubbles in market history ahead finally burst.
Epic bubbles produce epic crashes.
The current bubble is a whopper — "as obvious as the nose on your face," Grantham stressed weeks earlier.
Days earlier, analyst Doug Casey stressed that things are "out of control."
With Europe close behind, the US is already experiencing "a truly major depression and (is) on the edge of financial chaos," adding:
"Economically, politically, and socially, the US (is) headed down a path that's not only inconsistent with the founding principles of the country, but accelerating quickly toward boundless decay."
For years, the nation has been incrementally thirdworldized, what's become the status for most of its people.
It's because of reckless political, economic, financial and military policymaking.
Exceeding the worst of its predecessors, the Biden regime compounded its venality by falsely blaming its recklessness on Russia.
The Russian Federation has nothing to do with soaring US inflation, broken supply chains and overall dismal conditions for most Americans.
Along with the Wall Street owned and controlled Fed, blame lies with the Biden regime for making bad conditions far worse since usurping power.
Besides the growing risk of global war, a major economic and financial disaster likely approaches.
It'll hit home hard throughout the US/West and elsewhere, ordinary people hit hardest.
Markets predict what's coming economically and financially.
US equities approached bear market territory, especially the tech-heavy Nasdaq — down 25% year-to-date.
The Dow is down 11.5%.
The S & P 500 is down 16%.
Through April, the S & P 500's 2022 decline was the steepest — over a four month period — since 1939.
Year-to-date losses are likely prelude for much more to come.
Individual favorites have been hit very hard — notably Netflix down 70%, Facebook down 41%, Amazon down 35%, Google down 21%, Microsoft down 20%, Apple down 15%.
From its record high last November, bitcoin lost half its value.
It's been a long time coming.
During bubbles, fortunes are made and lost.
As Grantham earlier explained:
"(N)o matter how hard the Fed tries to support it…this bubble will burst in due time" like earlier ones with no exceptions in market history.
"The one reality that you can never change is that a higher-priced asset will produce a lower return than a lower-priced asset."
"You can't have your cake and eat it."
What rises exponentially can crash with lighting speed.
Markets always revert to their mean valuations. They've been no exceptions to the rule.
Last winter, Grantham said the following:
"(H)ere we are again, waiting for the last dance and, eventually, for the music to stop."
What likely already occurred will be best understood when postmortems have the last word.