CG: Focusing on the sociopolitical situation, at least from an outsider perspective, we’re certainly seeing less outrage and controversy reflected in the international press compared to when Trump was in the Oval Office. Does that mean that the “wounds have healed” and that Americans are actually more united today or is the rift still widening, just more quietly?
JD: From my perspective the rift has widened. Biden’s narrow victory is viewed by the Left as a mandate to punish and vanquish the Deplorables, especially in rural areas. That’s the nature of politics, which is a form of proto-violence. Markets and civil society are win-win institutions, government and politics are zero-sum. So, unless and until we reduce the importance of political outcomes—unless and until we make life less political—we should expect division to grow.
CG: Both in US and in Europe, there is well-documented and growing mistrust of the media, social- and legacy organizations alike. My own hope had been, especially after the pandemic, that the obscene amount of bias would cause more and more people to do their own research and to “educate themselves”. Have you noticed such a shift in the US, perhaps reflected in a heightened interest in the educational content and programs that the Mises Institute offers?
JD: Absolutely. The digital age provides us the ability to seek out and find voices of reason and peace amidst the white noise of mainstream media. I hate to think it takes a real calamity to wake people up, but perhaps this is human nature. The more worried people become about the economy and their future, the more they seek out alternative sources of news and information. The Mises Institute works to be an alternative source for economic news and education.
CG: Another trend we have in common is the “green agenda”. Even as the present crisis made it abundantly clear that the energy transition in Europe was catastrophically premature, bringing about the “cold, dark winter” that millions of citizens are now facing, there is still extreme pressure for more “green” policies, including a war on farmers at a time of unprecedented food price increases. Is that something you expect to see continue in the months and years to come and if so, what’s the impact you expect to see?
JD: Food and energy crises certainly are possible. In keeping with the “new normal,” elites will use such crises to increase their own power and force us to suffer for problems they caused. We know, because they tell us plainly, their plans to have us stop using fossil fuels, stop traveling so much, stop eating meat, and stop owning homes. They are quite explicit about this.
The fastest and most effective way to achieve this is to make houses, gasoline, and meat so expensive only the very rich can afford them. We already see consolidation of home ownership by private equity firms, for example, to create a nation of renters in the US. We see billionaires like Bill Gates investing in fake meat substitutes. We see recipes in gourmet magazines for dishes featuring bugs!
None of this is normal or natural, but must be imposed by incentives, either positive or negative. If we hope to maintain any personal or family sovereignty in the coming decades, we have to recognize and resist this new program of imposed austerity.
CG: What’s your outlook for the US economy in 2023? What are the main threats that worry you the most and what would be your advice for responsible savers that seek to protect all they’ve worked for from their government’s incompetence or intentional abuses?
JD: I predict the US Fed will “pivot” in 2023 on interest rate hikes, meaning they will revert to their usual (true) status of worrying more about equity and bond markets than consumers and inflation. And I predict the Biden administration will be unable to maintain much popularity or legitimacy, leading to increased calls for a replacement Democrat to run for president in 2024.
Inflation will remain will us, higher than admitted by government statistics, and will become a permanent feature of the 2020s across the West. Government spending and deficits will continue to grow. As a result, it will be a very trying decade for savers! Gold and silver, commodities, and bitcoin are the obvious suggestions for those looking to protect themselves from devaluation, but for a variety of reasons the US dollar will remain strong against other currencies. And of course, the most important thing is to “harden” yourself against uncertainty by improving your skills and practicing self-education.
Claudio Grass, Hünenberg See, Switzerland
Source: 3D Animation Production Company auf Pixabay
