The stock market is again plunging, which is sending a panic through the swarm of gamblers and speculators who think they are investing. We’ve seen it all before, and it would all be moot if we adopted the Economic Democracy Act decades ago, but until then, this is what we get:
• Justice University Classes Begin. Tomorrow, October 7, 2023, the latest session of Justice University classes is set to begin. This session includes some new developments, such as quizzes to test understanding of the material, and recording the sessions for use in self-directed programs. Naturally, the end result should be to understand the principles of the Just Third Way of Economic Personalism, particularly as applied in the Economic Democracy Act.
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| Build it and it will be . . . |
• It’s Not Real Debt! While the national debt has reached $33 trillion, there’s nothing to worry about, at least according to economist Paul Krugman. It’s not like “real” debt that real people owe to other real people. No, because according to Keynesian collectivist thinking, the national debt is money we owe ourselves, so it doesn’t mean anything! Interestingly, Dr. Harold Moulton covered this exact same theory in a pamphlet he published in 1943, The New Philosophy of Public Debt. It is completely irrational and contradictory . . . in other words, the perfect Keynesian situation. Creating money in the belief that you are creating wealth is what Richard Feynman characterized as “Cargo Cult Science.” That is, create the illusion or facsimili of wealth and a healthy economy, you create the actual wealth: the magical law of similarity. Of course, if you to create a real healthy economy, you need to adopt the Economic Democracy Act.
• And What Will They Do with Their Time? According to Jamie Dimon, the workers of the future will only work three and a half days a week. What the rate of pay for this will be, the purpose of the work, and whether the laborer will be worthy of his pay does not appear to be an issue, nor what the typical worker is supposed to do for the other three and a half days of the week. And what will these workers be doing at work? Is there any reason for human input at all? Frankly, many jobs now could be done by machines or much cheaper if people didn’t need a job for income. That is why Louis Kelso said if the machine wants our job, let’s buy the machine so that we, not a faceless corporation, own the machines . . . through the corporation that acquires a face — ours! That is the idea behind the Economic Democracy Act.
• Beware of Stocks and Bonds! According to Bill Gross, investors (the current term for speculators and gamblers) should avoid bonds and overvalued stocks . . . which means pretty much everything on Wall Street, since it’s all overvalued going by traditional methods of valuation. What’s the alternative? Investing for income instead of changes in value in the underlying asset. That is the idea behind the Economic Democracy Act.
• One of the Worst Market Crashes in History? As the headline screamed, the spike in bond interest rates that led to a plunge in the market value of low-yield bonds is a complete disaster and one of the worst market crashes in history. Why? It makes no sense. The bonds are still delivering the same amount of interest, so the only reason it matters at all is if you’re speculating instead of investing. Who cares how much the asset is worth if you still get the same income from it? What we really need is a whole new approach to investing, which is the idea behind the Economic Democracy Act.
• Greater Reset “Book Trailers”. We have produced two ninety-second “Book Trailers” for distribution (by whoever wants to distribute them), essentially minute and a half commercials for The Greater Reset. There are two versions of the videos, one for “general audiences” and the other for “Catholic audiences”. Take your pick.
• The Greater Reset. CESJ’s new book by members of CESJ’s core group, The Greater Reset: Reclaiming Personal Sovereignty Under Natural Law is, of course, available from the publisher, TAN Books, an imprint of Saint Benedict Press, and has already gotten a top review on that website. It can also be obtained from Barnes and Noble, as well as Amazon, or by special order from your local “bricks and mortar” bookstore. The Greater Reset is the only book of which we’re aware on “the Great Reset” that presents an alternative instead of simply warning of the dangers inherent in a proposal that is contrary to natural law. It describes reality, rather than a Keynesian fantasy world. Please note that The Greater Reset is NOT a CESJ publication as such, and enquiries about quantity discounts and wholesale orders for resale must be sent to the publisher, Saint Benedict Press, NOT to CESJ.
• Economic Personalism Landing Page. A landing page for CESJ’s latest publication, Economic Personalism: Property, Power and Justice for Every Person, has been created and can be accessed by clicking on this link. Everyone is encouraged to visit the page and send the link out to their networks.
• Economic Personalism. When you purchase a copy of Economic Personalism: Property, Power and Justice for Every Person, be sure you post a review after you’ve read it. It is available on both Amazon and Barnes and Noble at the cover price of $10 per copy. You can also download the free copy in .pdf available from the CESJ website. If you’d like to order in bulk (i.e., ten or more copies) at the wholesale price, send an email to publications@cesj.org for details. CESJ members get a $2 rebate per copy on submission of proof of purchase. Wholesale case lots of 52 copies are available at $350, plus shipping (whole case lots ONLY). Prices are in U.S. dollars.
• Sensus Fidelium Videos, Update. CESJ’s series of videos for Sensus Fidelium are doing very well, with over 155,000 total views. The latest Sensus Fidelium video is “The Five Levers of Change.” The video is part of the series on the book, Economic Personalism. The latest completed series on “the Great Reset” can be found on the “Playlist” for the series. The previous series of sixteen videos on socialism is available by clicking on the link: “Socialism, Modernism, and the New Age,” along with some book reviews and other selected topics. For “interfaith” presentations to a Catholic audience they’ve proved to be popular, edging up to 150,000 views to date. They aren’t really “Just Third Way videos,” but they do incorporate a Just Third Way perspective. You can access the playlist for the entire series. The point of the videos is to explain how socialism and socialist assumptions got such a stranglehold on the understanding of the role of the State and thus the interpretation of Catholic social teaching, and even the way non-Catholics and even non-Christians understand the roles of Church, State, and Family, and the human persons place in society.
Those are the happenings for this week, at least those that we know about. If you have an accomplishment that you think should be listed, send us a note about it at mgreaney [at] cesj [dot] org, and well see that it gets into the next “issue.” Due to imprudent and intemperate language on the part of some commentators, we removed temptation and disabled comments.
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