Baltic Dry Index. 3944 -57 Brent Crude 71.80
Spot Gold 1826
Coronavirus Cases 02/04/20 World 1,000,000
Deaths 53,100
Coronavirus Cases 06/09/21 World 221,556,010
Deaths 4,581,930
What Is a Black Swan?
A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, severe impact, and the widespread insistence they were obvious in hindsight.
https://www.investopedia.com/terms/b/blackswan.asp
The military Coup in Guinea has set off a scramble to get hold of supply of aluminium. More on that in the Global Inflation section.
Is this the Black Swan that triggers a stock casino correction? Possibly, given its unfortunate timing to last week’s dismal US employment report, plus this week’s ending of US Federal weekly unemployment relief for millions.
With US stock casinos closed today for a holiday, tomorrow’s reopening could be more interesting than usual.
Japan’s Nikkei 225 surges nearly 2% as stocks continue to see gains for second day
SINGAPORE — Asia-Pacific stocks were mixed in Monday trade following U.S. jobs data released Friday that came in far short of expectations.
Japan’s Nikkei 225 was among the biggest gainers regionally, rising 1.75% in afternoon trade. That followed its surge of 2.05% on Friday after Japanese Prime Minister Yoshihide Suga said he will not be running in the upcoming leadership election. The Topix advanced 1.24%.
Mainland Chinese stocks were higher by the afternoon as the Shanghai composite gained 1.02% and the Shenzhen component jumped 2.164%. Hong Kong’s Hang Seng index rose 0.51%.
Elsewhere, South Korea’s Kospi sat fractionally lower. In Australia, the S&P/ASX 200 shed 0.33%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.45%.
In Thailand, the SET Composite index was flat in Monday trade. That came after the country’s prime minister and several other cabinet ministers survived a vote of no confidence in parliament over the weekend, Reuters reported.
----U.S. markets are closed on Monday for the Labor Day holiday.
https://www.cnbc.com/2021/09/06/asia-markets-us-jobs-data-currencies-oil.html
Froth in the stock market makes impending correction look almost ‘obvious,’ Miller Tabak strategist says
The S&P 500 and Nasdaq held near records to end the week despite a disappointing jobs report.
Both those indices reached all-time highs on Thursday and hovered near those on Friday. Markets have extended a relentless rally that has stretched through the summer despite a resurgence in Covid cases across the U.S.
But, Miller Tabak chief market strategist Matt Maley has a warning.
There’s a huge amount of froth in the marketplace right now much like we’ve seen in other important tops of the market that only became obvious in hindsight,” Maley told CNBC’s “Trading Nation” on Thursday.
Maley sees warning signs in today’s market that look similar to red flags during the 1999-2000 and 2007-2008 peaks. During the dotcom bubble, for example, he says stocks shot sky-high no matter the fundamentals much like AMC and GameStop have this year.
“Now we have a very similar situation,” said Maley. “You have the meme stocks which are flying, … they’re not going to change the world and these stocks are going up 2,000% in just a few days, you have these SPACs that are going crazy here. We have a stock market that’s very, very expensive, and a market that is overbought.”
Take the tech-heavy Nasdaq 100, he says. The QQQ Nasdaq 100 ETF now trades at a 70% premium to its 200-week moving average, well above where it was before the last several corrections.
----“It doesn’t mean sell everything, go to 50% cash, or even 20% cash, but if you raise a little bit of cash, you’ll be able to buy stock if it corrects, but more importantly, you won’t be selling when the market is down 15% or 20%, when everybody else is selling at the exact wrong time, you’ll be the one keeping your head, holding on to your winnings and be able to take advantage of the market when it goes back up,” said Maley.
Investors should be looking out for the catalyst that could prompt the downturn, says Gina Sanchez, chief market strategist at Lido Advisors and CEO of Chantico Global. She sees two potential triggers.
“The first catalyst I see is just the fact that we have priced in very strong expectations. We’re going to hit huge GDP growth this year. Next year, we’re going to have lower GDP growth. Will it still be strong? Yes, but it will be less than now,” Sanchez said during the same interview.
----“The second and more important catalyst I’m looking for is when the liquidity starts to get dialed in and stepped out of the market. When that happens, I think that’s when you could have a real potential correction,” said Sanchez.
The Federal Reserve, one of the biggest sources of excess liquidity in the market, has signaled it could begin to taper its bond-buying program by year’s end. The central bank will next meet on Sept. 21 and 22.
https://www.cnbc.com/2021/09/05/stocks-and-the-market-two-strategists-weigh-odds-of-correction.html
Next, what happens next? More riots and looting or more free fiat money from the District of Crooks?
Federal unemployment benefits end this weekend for millions of Americans. Many are scared of what comes next
Published Sat, Sep 4 2021 9:00 AM EDT
----The federal government expanded the safety net for the jobless to a historic degree last year, when the U.S. was in the throes of its most rapid economic downturn in history. The CARES Act, passed in March 2020, raised weekly jobless benefits by $600 a week (and later, $300 a week), offered aid to workers typically ineligible for traditional state benefits, such as self-employed, gig workers and part-timers, and extended how long people could collect aid.
Congress twice extended the programs, last December and again this March, but opted not to do so a third time.
That means about 9 million people are poised to lose those benefits by Labor Day, according to an estimate from The Century Foundation. Another 3 million or so will see their weekly benefits reduced.
Families are scared of what comes next.
“It is going to leave some folks in a bad situation,” Sylvia Allegretto, an economist and co-chair of the Center on Wage and Employment Dynamics at the University of California, Berkeley, said of this weekend’s unemployment cliff.
“The economy, for many reasons, has not been fully recovered and won’t be for quite a while given this unfortunate but massive surge in Covid we’re seeing across the country,” she added.
The delta variant has added pressure to an already uneven economic recovery. The U.S. added 235,000 jobs in August, a marked slowdown from the roughly 1 million in both June and July.
Of course, some economists believe the programs should end now, arguing that enhanced federal benefits offer an incentive to stay home rather than look for work. White House officials also recently signaled that federal benefits should cease as planned in most states.
There were a record 10 million job openings in June, which exceeds the number of officially unemployed individuals. That dynamic has led some economists to question why those who are out of work aren’t rushing in to take available jobs.
“It’s hard to justify having a program that’s encouraging people not to work at the same time employers are struggling to keep their business [going],” said Rachel Greszler, a research fellow in economics, budget and entitlements at the Heritage Foundation, a right-leaning think tank.
More
Finally, Afghanistan. Want to buy a “Biden special?” Coming next month, “BOGGOF,” buy one gun get one free?
The “Geneva of the Middle East.”
Boom time for Afghan arms dealers in Taliban heartland
Issued on: 05/09/2021 - 11:50
The Taliban takeover may have plunged Afghanistan into uncertainty and economic pain, but arms dealer Khan Mohammad is making the most of it.
Sandwiched between a pharmacy and a general store, his shop in the Panjwai district of southern Kandahar province -- the spiritual birthplace of the Taliban -- is flush with fresh inventory.
Camouflage combat vests and bandoliers hung from the walls as Mohammed showed off his wares, including US-made Smith & Wesson pistols and ammunition belts.
More pistols, grenades, walkie-talkies and jars full of bullets lined the glass display in the front.
The end of the conflict has led many weapon-owners to conclude they no longer need them, Mohammad explained.
"People who have had guns at home for years bring us their weapons," he said.
Mohammad has a customer lined up too.
"We buy them and sell... to the Mujahideen," he said, referring to the Taliban.
"The Taliban don't let anyone else take (the weapons)."
Mohammad did not just have weapons -- there were accessories too.
White Taliban baseball caps with the Muslim proclamation of faith printed on them hung from the ceiling. The group's flags were also on sale.
Another dealer in the dusty Panjwai market, whose shop was adorned with large Taliban flags and pictures of the group's top leaders, had more potent offerings.
They included assault rifles -- variants of the AK-47 as well as the US-made M4 and M16 -- and even light machine guns.
The Taliban for years procured weapons and ammunition from the black market. They also captured arms and equipment from the battlefield and abandoned military posts, according to UN and Western monitors.
And the recent collapse of the Afghan military created an arms bonanza for the militants.
Alongside a large haul of American-made infantry weapons, Afghanistan's new rulers now possess equipment and vehicles -- including humvees, armoured personnel carriers, and at least one functioning Black Hawk helicopter.
The militants are also making the most of their spoils.
The Taliban are cashing in on a wide variety of items from abandoned Afghan and Western military bases.
They seized Panjwai district in July as the withdrawal of US-led troops from Afghanistan gathered pace.
In the local market, everything from construction material to metal trays salvaged from the district's Afghan military base was for sale.
"We bought all these things from the Taliban after they conquered the Afghan army base," said vendor Murtaza, who gave only one name.
"Now we bring them to the market to sell."
Afghan crisis cements Qatari global influence
Issued on: 05/09/2021 - 04:18
Political leaders have flocked to Doha and some countries have moved their Kabul embassies to Qatar, all praising their host for its key role in the airlift out of the Afghan capital.
Tiny Qatar has seized the moment, cementing its outsize global influence and reputation as a neutral mediator after winning the trust of all sides in Afghanistan's forever war.
Qatar invited the Taliban to open a political office in Doha in 2013, with then US president Barack Obama's blessing as conflict in Afghanistan raged.
It went on to host talks between Washington and the Taliban that concluded in 2020 with a troop withdrawal agreement, followed by direct negotiations between the former insurgents and Afghan government.
Doha's long-standing hotline to the Taliban ultimately helped Qatar burst onto the world stage as the lynchpin of efforts to evacuate desperate Afghans and foreigners -- and now the push to reopen Kabul airport.
"The Qataris have earned a reputation as honest brokers who are willing to help multiple warring parties to a find a way to end these conflicts," said Colin Clarke, senior research fellow at the Soufan Center.
"I think what Qatar got out of it was a growing recognition that Doha is the place to make a deal. It has grown into the Geneva of the Middle East, a place where warring parties can meet on neutral territory."
- Indispensable to allies -
In little more than a week, the Arabian desert peninsula will have welcomed the foreign ministers of Germany, the Netherlands, Italy, Britain and the US.
----Britain's Foreign Secretary Dominic Raab lauded the dramatic airlift, in which Doha has served as a key transit stop, saying "the biggest operation of its kind in our living memory (was) in no small part because of the cooperation of our Qatari friends".
While in Doha, where Britain has relocated its Kabul embassy, Raab described Qatar as "an influential player" and its ruler Sheikh Tamim bin Hamad Al-Thani as a "friend".
The Gulf nation has been working with the Taliban to quickly reopen Kabul's airport, closed since the departure of US troops, and it hopes to see the establishment of humanitarian aid corridors.
At the height of evacuation operations, Qatar's ambassador to Afghanistan personally escorted Americans and vulnerable Afghans to the airport.
More
https://www.france24.com/en/live-news/20210905-afghan-crisis-cements-qatari-global-influence
Global Inflation Watch.
Given our Magic Money Tree central banksters and our spendthrift politicians, inflation now needs an entire section of its own.
Aluminum Jumps as Guinea Coup Attempt Fuels Supply Concerns
Bloomberg NewsUpdated on 6 September 2021, 05:29 BST
· Guinea is a major exporter of bauxite used to make aluminum
Aluminum climbed to the highest in more than a decade as political unrest in Guinea fueled concerns over supply of the raw material needed to make the metal.
A unit of the military seized power and suspended the constitution, with head of special forces, Colonel Mamady Doumbouya, urging the army to back him. That rattled global aluminum markets Monday -- prices in London notched a fresh 10-year high and futures in China climbed to the highest since 2006 -- as the political instability raises the possibility of disruptions to bauxite shipments from the key global supplier.
More
Aluminium in Africa
Aluminium in Africa originates from bauxite, and within Africa is primarily found in Guinea, Mozambique and Ghana. Guinea is by far the biggest producer in Africa, and is a world leader in bauxite production.
https://en.wikipedia.org/wiki/Aluminium_in_Africa
Road haulage bosses warn buckling supply chains will trigger soaring prices
Saturday 4 September 2021 12:11 pm
The “perfect storm” of problems scuppering UK supply chains will increase prices sharply for households across the country, road haulage and food bosses have warned.
A paucity of HGV drivers, soaring shipping costs, delays in deliveries from Asia and ongoing Covid related problems have compounded to produce severe shortages of products.
Soaring demand as economies across the world emerge from Covid restrictions has put intense pressure on suppliers to ramp up production in a short space of time, prompting them to increase prices.
A lack of lorry drivers caused by high levels of EU nationals leaving the UK since Brexit and the onset of Covid has left the retail and health sectors short of stock.
Firms are hiking pay for HGV drivers in a bid to attract candidates, increasing the likelihood of businesses passing costs on to consumers to protect their margins.
Commodity and fuel prices have also surged, driven by global demand strengthening amid a receding pandemic.
Haulage bosses have described the issues as a “perfect storm” of events leading to supply chains to snarl up.
Richard Harrow, CEO of the British Frozen Food Federation, said: “All the factors are going in the wrong direction for consumers – commodity costs, labour costs…and then we have the unknown of what the Brexit costs will be.”
Alex Veitch, general manager for public policy at Logistics UK, said on Thursday: “I’ve never seen anything like it.”
“We’ve had a shortage of drivers in the UK, a chronic shortage, for many years, but now [this is] an acute shortage.”
According to the Office for National Statistics, consumer price inflation in the UK is currently running at two per cent annually, bang on the Bank of England’s target.
However, the Old Lady expects the rate of price rises to jump to four per cent by the end of the year.
Latest data from IHS Markit shows services and manufacturing businesses are already passing on higher costs to consumers. But, sales have been largely unaffected due to historically strong demand.
https://www.cityam.com/road-haulage-bosses-warn-buckling-supply-chains-will-trigger-soaring-prices/
‘Stagflation’ is the greatest threat to Europe’s recovery, warns ex-Italian PM Monti
Published Sat, Sep 4 2021 7:42 AM EDT
Former Italian Prime Minister Mario Monti told CNBC Saturday that he believes the greatest threat to Europe’s economic recovery from the coronavirus pandemic is “stagflation.”
Monti, now the president of Italy’s Bocconi University, said the “huge mass” of accommodative monetary policy by central banks and fiscal stimulus from governments, implemented to support economies amid the coronavirus pandemic, “may well fire more inflation.”
At the same time, Monti said there were “a number of constraints on the flexibility of production” to increase.
Stagflation is generally considered to be when the rate of inflation is high but economic growth has slowed and unemployment remains elevated.
The IHS Markit euro zone flash composite purchasing managers’ index, which looks at activity across manufacturing and services, hit a two-month low of 59.5 in August versus 60.2 in July. A reading higher than 50 still represents an expansion in economic activity, but many economists have suggested that momentum may be slowing in the region.
There is also concern around the effect of supply chain issues from Asia hitting manufacturing activity in Europe, as well as the fact that higher wages could feed into inflationary pressures.
Speaking to CNBC’s Steve Sedgwick at the European House Ambrosetti Forum on Saturday, Monti said that economies, not only in the EU, could start to experience elements of “stagflation” similar to that seen in many countries in the 1970s.
More
Covid-19 Corner
This section will continue until it becomes unneeded.
Why the big media conspiracy against repurposed drugs that work in many parts of the world against Covid-19?
Could it be big pharma profits from selling “vaccines” that don’t actually immunise against contracting SARS-Cov-2 infections?
Who starts false Covid treatment rumours? The Deep State? Why?
Cui bono?
Rolling Stone 'Horse Dewormer' Hit-Piece Debunked After Hospital Says No Ivermectin Overdoses
Saturday, Sep 04, 2021 - 09:30 PM
----On Friday, Rolling Stone's Peter Wade took another stab - publishing a hit piece claiming that Oklahoma ERs were overflowing with people 'overdosing on horse dewormer.'
It was suspect from the beginning.
The report, sourced to local Oaklahoma outlet KFOR's Katelyn Ogle, cites Oklahoma ER doctor Dr. Jason McElyea - claimed that people overdosing on ivermectin horse dewormer are causing emergency rooms to be "so backed up that gunshot victims were having hard times getting" access to health facilities.
As people take the drug, McElyea said patients have arrived at hospitals with negative reactions like nausea, vomiting, muscle aches, and cramping — or even loss of sight.
“The scariest one that I’ve heard of and seen is people coming in with vision loss,” the doctor said. -Rolling Stone
Except, the article provided zero evidence for McElyea's claims, causing people to start asking questions.
And while neither KFOR or Rolling Stone mention the hospital McElyea worked for, NHS Sequoyah, located in Sallisaw, Oklahoma - just issued a statement disavowing McElyea's claims, which pops up when you visit their website.
It reads:
Although Dr. Jason McElyea is not an employee of NHS Sequoyah, he is affiliated with a medical staffing group that provides coverage for our emergency room.
With that said, Dr. McElyea has not worked at our Sallisaw location in over 2 months.
NHS Sequoyah has not treated any patients due to complications related to taking ivermectin. This includes not treating any patients for ivermectin overdose.
All patients who have visited our emergency room have received medical attention as appropriate. Our hospital has not had to turn away any patients seeking emergency care.
We want to reassure our community that our staff is working hard to provide quality healthcare to all patients. We appreciate the opportunity to clarify this issue and as always, we value our community’s support.
What about the rest of the state?
According to Scott Schaeffer, managing director of the Oklahoma Center for Poison and Drug Information, "Since the beginning of May, we’ve received reports of 11 people being exposed to ivermectin," he told the NY Daily News (which still pushed the 'ivermectin overdoses' story despite this fact).
Meanwhile, this horseshit story has also been picked up by the far-left Business Insider and The Independent, as well as The Guardian, among other notable outlets.
Ivermectin for COVID-19: real-time meta analysis of 63 studies
Covid Analysis, Sep 3, 2021, Version 114 — discussion updates (V1 Nov 26, 2020) [Twitter personality, Elgazzar, Carvallo]
•Meta analysis using the most serious outcome reported shows 72% [55‑82%] and 86% [75‑92%] improvement for early treatment and prophylaxis, with similar results after exclusion based sensitivity analysis and restriction to peer-reviewed studies or Randomized Controlled Trials.
•Statistically significant improvements are seen for mortality, hospitalization, recovery, cases, and viral clearance. 27 studies show statistically significant improvements in isolation. The probability that an ineffective treatment generated results as positive as the 63 studies is estimated to be 1 in 1 trillion.
More
New Microbes and New Infections
Volume 43, September 2021, 100924
Ivermectin: a multifaceted drug of Nobel prize-honoured distinction with indicated efficacy against a new global scourge, COVID-19
Abstract
In 2015, the Nobel Committee for Physiology or Medicine, in its only award for treatments of infectious diseases since six decades prior, honoured the discovery of ivermectin (IVM), a multifaceted drug deployed against some of the world’s most devastating tropical diseases. Since March 2020, when IVM was first used against a new global scourge, COVID-19, more than 20 randomized clinical trials (RCTs) have tracked such inpatient and outpatient treatments. Six of seven meta-analyses of IVM treatment RCTs reporting in 2021 found notable reductions in COVID-19 fatalities, with a mean 31% relative risk of mortality vs. controls. During mass IVM treatments in Peru, excess deaths fell by a mean of 74% over 30 days in its ten states with the most extensive treatments.
More
https://www.sciencedirect.com/science/article/pii/S2052297521000883
A five-day course of ivermectin for the treatment of COVID-19 may reduce the duration of illness
Abstract
Ivermectin, a US Food and Drug Administration-approved anti-parasitic agent, was found to inhibit severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) replication in vitro. A randomized, double-blind, placebo-controlled trial was conducted to determine the rapidity of viral clearance and safety of ivermectin among adult SARS-CoV-2 patients. The trial included 72 hospitalized patients in Dhaka, Bangladesh, who were assigned to one of three groups: oral ivermectin alone (12 mg once daily for 5 days), oral ivermectin in combination with doxycycline (12 mg ivermectin single dose and 200 mg doxycycline on day 1, followed by 100 mg every 12 h for the next 4 days), and a placebo control group. Clinical symptoms of fever, cough, and sore throat were comparable among the three groups. Virological clearance was earlier in the 5-day ivermectin treatment arm when compared to the placebo group (9.7 days vs 12.7 days; p = 0.02), but this was not the case for the ivermectin + doxycycline arm (11.5 days; p = 0.27). There were no severe adverse drug events recorded in the study. A 5-day course of ivermectin was found to be safe and effective in treating adult patients with mild COVID-19. Larger trials will be needed to confirm these preliminary findings.
More
https://pubmed.ncbi.nlm.nih.gov/33278625/
In other Covid vaccine news.
Meeting highlights from the Pharmacovigilance Risk Assessment Committee (PRAC) 30 August – 2 September 2021
News 03/09/2021
COVID-19 vaccines: EMA reviewing cases of multisystem inflammatory syndrome
EMA’s safety committee (PRAC) is assessing whether there is a risk of multisystem inflammatory syndrome (MIS) with COVID-19 vaccines following a report of MIS with Comirnaty. The case occurred in a 17-year old male in Denmark who has since fully recovered.
Some cases of MIS were also reported in the EEA following vaccination with other COVID-19 vaccines.1
MIS is a serious inflammatory condition affecting many parts of the body and symptoms can include tiredness, persistent severe fever, diarrhoea, vomiting, stomach pain, headache, chest pain and difficulty breathing. MIS has previously been reported following COVID-19 disease. The Danish patient, however, had no history of COVID-19.
MIS is rare and its incidence rate before the COVID-19 pandemic estimated from 5 European countries was around 2 to 6 cases per 100,000 per year in children and adolescents below 20 years of age and below 2 cases per 100,000 per year in adults aged 20 years or more.
At this stage, there is no change to the current EU recommendations for the use of COVID-19 vaccines.
The PRAC encourages all healthcare professionals to report any cases of MIS and other adverse events in people having these vaccines.
More
Next, some vaccine links kindly sent along from a LIR reader in Canada. The links come from a most informative update from Stanford Hospital in California.
World Health Organization - Landscape of COVID-19 candidate vaccines. https://www.who.int/publications/m/item/draft-landscape-of-covid-19-candidate-vaccines
NY Times Coronavirus Vaccine Tracker. https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html
Stanford Website. https://racetoacure.stanford.edu/clinical-trials/132
Regulatory Focus COVID-19 vaccine tracker. https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker
Some other useful Covid links.
Johns Hopkins Coronavirus resource centre
https://coronavirus.jhu.edu/map.html
Rt Covid-19
Centers for Disease Control Coronavirus
https://www.cdc.gov/coronavirus/2019-ncov/index.html
The Spectator Covid-19 data tracker (UK)
https://data.spectator.co.uk/city/national
Technology Update.
With events happening fast in the development of solar power and graphene, I’ve added this section. Updates as they get reported.
Just don’t tell anyone at the Wuhan Institute of Virology, Fort Detrick or Porton Down.
Mini CRISPR system promises easier cell engineering, gene therapy
Sept. 3, 2021 / 3:46 PM
Sept. 3 (UPI) -- Scientists have developed a more compact CRISPR system that can be more easily delivered to cells.
The technology, described Friday in the journal Molecular Cell, promises to make cell-engineering more effective and efficient.
The world's most popular and powerful gene-editing tool, CRISPR-Cas9, has enabled numerous scientific discoveries. It works by excising specific DNA sequences using a gene-cutting protein, Cas9, sourced from bacterial immune systems.
Because CRISPR-Cas9 and its derivatives are sometimes too large and cumbersome to be used in certain cellular environs, limiting their adaptability, researchers at Stanford University developed a smaller CRISPR-Cas system called CasMINI.
"This is a critical step forward for CRISPR genome-engineering applications," senior study author Stanley Qi said in a press release.
"The work presents the smallest CRISPR to date, according to our knowledge, as a genome-editing technology. If people sometimes think of Cas9 as molecular scissors, here we created a Swiss knife containing multiple functions. It is not a big one, but a miniature one that is highly portable for easy use," Qi said.
Scientists suggest their new gene-editing system will allow researchers to develop gene therapies that couldn't be delivered using previous CRISPR systems.
To shrink their system, scientists turned to a gene-cutting protein called Cas12f, or Cas14. The protein is composed of between 400 and 700 amino acids, making it less than half the size of more traditional gene-editing proteins like Cas9 or Cas12a.
Until recently, scientists weren't sure whether Cas14 could operate inside mammalian cells.
More
https://www.upi.com/Science_News/2021/09/03/crispr-mini-cell-engineering/8981630678342/
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
John Maynard Keynes.
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