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Doug Casey on Social Media: “Facebook enshrines stupidity”

“Just as Myspace was displaced by Facebook, I predict Facebook 2.0 will come along and replace Facebook.”

The Duran

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Authored by Joel Bowman via InternationalMan.com:


Joel Bowman: G’day, Doug. Thanks for speaking with us today.

Doug Casey: No problem, Joel. It’s a pleasure to hear your Australian accent come across the ether from Mexico.

Joel: Let’s dive right in. A week or two ago, Facebook registered the largest single day loss for any one company in stock market history – roughly $122 billion. CEO Mark Zuckerberg lost around $15 billion himself, as much as the annual GDP of several resource-rich, West African nations.

Looking back to 2000, during the go-go days of the dot.com boom, Intel and Microsoft both registered staggering single-day losses, too… $90 billion and $80 billion, respectively. And we know what happened next in that case…

So, investors want to know… is past prologue? What’s next for Silicon Valley’s tech darlings?

Doug: Talking about losing multiple billions in a single day, it’s really a sign of the times. I remember when the only billionaires in the world were Howard Hughes, John Paul Getty and John Beresford Tipton– the mythical billionaire on a 1950’s-era show called “The Millionaire.”

These days, however, it seems everyone’s a billionaire. In fact, there are several thousand billionaires roaming the planet today, with new ones being minted almost every day.

Of course, much of this so-called wealth is just paper. It’s not real. In fact, it’s pretty clear to me that we’re in a stock market bubble. Which is being driven by the bond market hyper-bubble. And that, in turn, is fueling a real estate bubble, which I believe is just now beginning to deflate in major cities around the world.

None of this augurs well for the stock market. You’ve got bubbles all over the place. Except in the resource market. That’s the one place that hasn’t inflated. In fact, it’s been going down since it’s last peak in 2011.

Getting back to Facebook, I hope it goes bankrupt. I hate it as an institution. I hate what it does. I don’t like its policies. I don’t like its management. I don’t like the fact that it’s causing people to destroy whatever privacy they have left. While turning their brains to mush sending out selfies all day.

Joel: You’ve put a lot on the table there, Doug. Let’s unpack a bit of that, starting with the general tendency toward cerebral rot…

Many younger readers may not remember this, but there actually existed a time before everybody knew everything, when people had to read books and discuss them, engage in healthy debate and rigorous dialectic in order to learn and develop intellectually.

Now that everyone apparently has plenty of time to Instagram their kale salads and “like” one and other’s cat pictures, are we to assume mankind has finally reached the End of Learning…some new Age of Enlightenment?

Or might Facebook and its (anti)social media cousins represent – in addition to the potential fallout for investors – another, hidden cost to society?

Doug: Perhaps humanity is bifurcating into the Morlocks and the Eloi at this point. It’s true that people used to go to libraries. But even the Library of Congress has only a tiny fraction the world’s data available; libraries are quaint and delightful, but they’re dinosaurs.

All the knowledge in the world is now at our fingertips on the Internet. The Internet is one of the greatest inventions in history, on a par with moveable type and the Gutenburg printing press. A few people are using it to educate and better themselves—but relatively few.

Most people just use it for trivial amusement, as you mentioned. Facebook adds very little value to the equation. In fact, I can’t see that it does much that’s productive. It’s basically a vehicle for gossip and watching cat videos.

Joel: And it’s less than that. Aside from the general degradation of public discourse, social media also represents a kind of unalterable historical record of bad jokes and regrettable moments, accessible to anyone who may wish to besmirch one’s character or skittle one’s reputation.

We’ve all said things we wish we hadn’t. To err is to be human, after all. What do you make of a world in which everyone’s worst moments are readily available to everyone else – including potential enemies – at the click of a mouse?

Doug: Facebook enshrines stupidity. A heavy Facebook user is, in effect, saying: “Look at me! I’m a thoughtless person who doesn’t have anything better to do with his time”. That’s on top of the fact that users are exposing their thoughts, actions, and whereabouts to the NSA, the FBI, the CIA and any of a hundred other nefarious agencies. In fact, there are credible allegations that Facebook, along with Google and Amazon, are willing tools of these intelligence agencies. No good can come of being a Facebookista.

But that’s about whether you should use Facebook. Whether you should own Facebook stock is a different question. Even after the recent selloff, Facebook still has a market cap of about $500 billion, which impresses me as a lot for a chat site cum advertising vehicle. Especially one where most of its growth is behind it. A lot of users are getting hip to the fact they’re not customers, they’re the product.

Facebook was a clever innovation ten years ago. But you know, there’s an old saying in the stock market: High Tech, Big Wreck!

Just as Myspace was displaced by Facebook, I predict Facebook 2.0 will come along and replace Facebook. My understanding is that kids now see Facebook as something used by old people– people over 21 years of age. So if it’s going nowhere with the younger generation, where’s it’s future? Maybe it picks up a billion new users in the Third World. Ultimately, what’s that worth?

Facebook may not be a terminal short sale, but I certainly won’t be putting any of my own money into the stock.

Joel: Assuming you’re correct and Facebook 2.0 does displace the current market leader, are you hopeful that such a platform may serve to promote a heightened level of discourse? Perhaps people might find their way into “phyles,” that is, subgroups based on commonly shared values that actually have real world meaning?

Doug: I hope that, in a year or two, International Man itself grows into a community of likeminded people with above average I.Q.s, libertarian values, and real world experience. IM might, itself, even branch off to become its own kind of Facebook. A private version.

I know there’s a lot of talk about regulating FB, or breaking it up. That’s a bad idea; the government should have zero to do with business in general—and areas related to free speech in particular. I’m disgusted by the fact FB has kicked Alex Jones and others off their platform. But they have a right to do so, as a private company. Although, on the other hand, they’re almost a creature of the State.

But that’s not an excuse for the government to “step in”. What will happen is that a newer, better Facebook lookalike—or a dozen of them—will replace them. FB will self-destruct. It’s a non-problem.

To be frank, you and I don’t really have that much in common with most of the 7.3 billion people on this planet. In fact, while I like many individual humans, I despise humanity in general. The more people you put together in a group, the more they act like chimpanzees. Big groups force down the lowest common denominator.

There’s some cause for optimism, but only on a person-to-person basis. I prefer the company of people who value free minds and free markets—and I suspect most people who are reading this now feel the same way.

Joel: That’s probably a very good note to end this conversation on, Doug. Thanks, as always, for taking the time.

Doug: Meanwhile, we’ll look for something with the potential of Facebook in 2008… and stay away from Facebook today.

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franz kafkaRick OliverJohn R. NolanVera Gottlieb Recent comment authors
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franz kafka
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franz kafka

When FaceBook first appeared I had to choose between joining, or putting my filing cabinet, with all my valuable records, tax returns, and memorabilia, out on the sidewalk for chance passers-by to do with as they willed.

I chose neither.

Rick Oliver
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Rick Oliver

Yep , I ditched FB about three months ago , because I`m very sure I was being monitored by either our local Secret Service or the FBI or even the CIA , because they are here in my country ( NZ ) manipulating and so – called teaching our Secret Service on how to spy on everybody , our prime minister of the time even admitted the network was spying on our own people and court cases regarding the Govt and the spy network have admitted it as well !!! Any was , as I was being watched , (… Read more »

Rick Oliver
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Rick Oliver

Part 2 ; Forgot to mention in my last vlog that getting rid of FB is not enough if you are on any sort of ” watch ” , they follow you through Google Gmail and You Tube as well , so really , you have to give up the whole lot and be very careful of what you purchase with your credit cards etc.

John R. Nolan
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John R. Nolan

‘Farce Book’ was an incredibly cunning means for the C.I.A., F.B.I. A.S.I.O., etc., to collect incredible amounts of personal data, on all those who have been roped into it’s evil clutches. Sadly, those who use it are only displaying how lonely, insecure, emotionally handicapped they are, for all the world to see, (if they want,) most don’t. The cognitive world recognize how many citizens, trapped in these types of ‘socialist’ therapy programs, are people to be pitied, citizens who are desperately lonely, emotionally handicapped, trapped at their keyboard, in search of some form of social recognition, according to how many… Read more »

Vera Gottlieb
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Vera Gottlieb

With more and more faces literally glued to a small screen, how much longer before these people won’t be able to recognize another human being? I distrusted FB from day one…and all the others too.

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‘Hell on Earth’: MSF doctor tells RT of rape, violence, inhumane conditions in Lesbos refugee camp

One toilet for over 70 people, rape, and mental health issues – a doctor from Doctors Without Borders (MSF) and an aid worker told RT about the dire conditions in the overcrowded Moria refugee camp in Greece.

Alex Christoforou

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Via RT


One toilet for over 70 people, rape, and mental health issues – a doctor from Doctors Without Borders (MSF) and an aid worker told RT about the dire conditions in the overcrowded Moria refugee camp in Greece.

The overcrowded camp on the island of Lesbos, built to accommodate 3,100, houses around 9,000 people. “It’s a kind of hell on Earth in Europe,” Dr. Alessandro Barberio, an MSF clinical psychiatrist, said, adding that people in the camp suffer from lack of water and medical care. “It is impossible to stay there,” he said.

According to Barberio, asylum seekers are subjected to violence “during night and day.””There is also sexual violence”which leads to “mental health issues,” he said, adding that all categories of people at the camp may be subjected to it. “There is rape against men, women and children,” and the victims of sexual violence in the camp often have nightmares and hallucinations, Barberio told RT.

Asylum seekers in Moria “are in constant fear of violence,” and these fears are not groundless, the psychiatrist said. “Such cases [of violence] take place every week.”

There is “one toilet for 72 people, one shower for 84 people. The sanitation is bad. People are suffering from bad conditions,” Michael Raeber, an aid worker at the camp, told RT. They suffer from mental health problems because they are kept for a long time in the camp, according to Raeber.

“There is no perspective, they don’t know how their case will go on, when they will ever be able to leave the island.” The camp is a “place where there is no rule of law,” with rampant violence and drug addiction among the inhabitants, Raeber said.

In its latest report, MSF, which has been working near Moria since late 2017, criticized the unprecedented health crisis in the camp – one of the biggest in Greece. About a third of the camp population consists of children, and many of them have harmed themselves, and have thought about or attempted suicide, according to the group.

Barberio was behind an MSF open letter on the state of emergency in Moria, released on Monday, in which he writes that he has never “witnessed such overwhelming numbers of people suffering from serious mental health conditions.”

Calling the camp an “island prison,” he insisted that many of his patients in the camp are unable to perform basic everyday functions, “such as sleeping, eating well, maintaining personal hygiene, and communicating.”

A number of human rights groups have strongly criticized the conditions at the camp and Greece’s “containment policy”regarding asylum seekers.

Christina Kalogirou, the regional governor of the North Aegean, which includes Lesbos, has repeatedly threatened to shut down the facility unless the government improves the conditions. On Tuesday, government spokesman Dimitris Tzanakopoulos said that Greece will move 2,000 asylum seekers out of the severely overcrowded camp and send them to the mainland by the end of September.

Greece, like other EU states, is experiencing the worst refugee crisis since WWII. According to International Organization for Migration estimates, 22,000 asylum seekers have arrived in Greece since the start of this year alone.

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Erdogan accepts Syria DMZ off-ramp, in deal with Putin (Video)

The Duran – News in Review – Episode 111.

Alex Christoforou

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The deal struck in Sochi averts a large scale Syria’s offensive on Idlib, as Turkey gives it guarantee to monitor what will effectively become a demilitarized zone.

According to the agreement, troops from Russia and Turkey will enforce a new demilitarized zone (DMZ) in Idlib, from which ISIS/Al Qaeda rebels will be required to withdraw by the middle of next month.

Speaking alongside Erdogan, Russian President Vladimir Putin said the 15 to 20 km-wide zone would be established by October 15th. The DMZ would require a complete “withdrawal of all radical fighters” from Idlib, including the rebranded Al-Qaeda affiliated Hay’et Tahrir al-Sham (HTS).

Putin also noted that heavy weapons would be withdrawn from the DMZ by all opposition forces by October 10th, which is a move supported by the Syrian government.

The Russian President described the agreement as a “serious result” further saying that “Russia and Turkey have confirmed their determination to counter terrorism in Syria in all its forms”.

Erdogan said both his country and Russia would carry out coordinated patrols in the demilitarized zone:

“We decided on the establishment of a region that is cleaned of weapons between the areas which are under the control of the opposition and the regime.”

“In return, we will ensure that radical groups, which we will designate together with Russia, won’t be active in the relevant area.”

According to Al Jazeera Iran’s foreign minister has hailed an agreement between Turkey and Russia to avert an assault on the Syrian rebel-held Idlib province, as an example of “responsible diplomacy”.

An agreement to halt plans for an offensive on the last major rebel-held stronghold was announced in the Black Sea resort of Sochi on Monday after a meeting between the Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan.

On his Twitter account, Zarif wrote: “Intensive responsible diplomacy over the last few weeks-pursued in my visits to Ankara & Damascus, followed by the Iran-Russia-Turkey Summit in Tehran and the meeting (in) Sochi-is succeeding to avert war in #Idlib with a firm commitment to fight extremist terror. Diplomacy works.”

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the agreement reached in Sochi, which for now avoids full scale conflict in Idlib, Syria. Who won, who lost, and which interests were met with the DMZ agreement?

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Via Xinhuanet

An anticipated Syrian military offensive on the northwestern province of Idlib is on hold after Turkey and Russia reached a deal following Ankara’s guarantee on behalf of the rebel groups, experts said.

The deal was reached Monday by Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin in Sochi, Russia, as the two sides agreed to create a demilitarized buffer zone in Idlib, the last rebel stronghold.

This agreement brings Turkey to a position of giving a guarantee on behalf of the rebel groups, the experts said.

“Moscow is convinced that it would not be able to handle the burden of a humanitarian tragedy in case of a military offensive in Idlib,” said Metin Gurcan, a Turkish security analyst with the Istanbul Policy Center of Sabanci University.

Russia has also secured its airbases in northern Syria, including its airbase in Hmeymim as a guarantee by Turkey under the Sochi agreement, he said.

Gurcan recalled a trilateral summit of Turkey, Iran and Russia held in Iranian capital Tehran early September, which ended without agreement as Erdogan’s call for a ceasefire in Idlib was rejected by Moscow and Tehran.

Erdogan’s proposal for a ceasefire by all parties in Idlib was rejected by Putin on the grounds that those groups were not represented at the table there, he said.

“Now Turkey has given a guarantee on behalf of radical groups which Putin earlier said that ceasefire cannot be discussed because they were not represented at Tehran meeting,” Gurcan said.

Now everyone is curious how Turkey has given guarantee to Moscow and how will those radical groups accept a proposal for demilitarization by surrendering heavy weapons and withdrawing from the demilitarized zone, Gurcan noted.

“Ankara has given this promise relying on its military power on the ground and on its capacity to convince armed opposition groups,” he said.

Turkish army has reinforced its presence in Idlib in the past few months, and Turkey has 12 military outposts with 1,200-1,300 troops on the border line of the province separating the rebel stronghold from the pro-Iran militia-controlled South of Aleppo and the government-controlled southeast, Gurcan said.

Rebel groups, including the Free Syrian Army, in the region are gathered with Turkish backing under the banner of the “National Front for Liberation.”

Putin and Erdogan agreed on Monday in Sochi to create a 15-20 km buffer zone along the line of contact between rebels and regime troops by Oct. 15.

The agreement entails the “withdrawal of all radical fighters” from Idlib as well as “heavy weaponry from this zone,” Putin said at the joint press conference after signing the deal with Erdogan.

By the end of the year, transportation routes between the key port of Latakia and Aleppo as well as the city of Hama must be restored, Putin added.

The Russian leader also said all heavy weapons had to be withdrawn from the zone by Oct. 10, according to Erdogan’s proposal.

Ankara has been warning against any military offensive by Russia-backed Syrian regime forces in Idlib, warning that it would lead to a humanitarian crisis and refugee influx to the Turkish border.

Turkey and Russia, along with Iran, are guarantors of the Astana deal which declared ceasefire in four de-escalation zones in Syria, including Idlib.

Turkey will deploy more troops in Idlib province after the Sochi deal, Turkish Foreign Minister Mevlut Cavusoglu said on Tuesday.

“We will need extra troop reinforcements. Turkey and Russia will patrol on the border areas. Civilians and moderate (opposition) will stay here,” Cavusoglu said.

Another outcome of the Sochi deal is that Turkey and Russia prevented a possible attack by the United States in Idlib, Naim Baburoglu from Aydin University said.

He recalled that the U.S. was giving signals that it wanted to intervene in the situation in Idlib, if Syrian government troops launch an assault on the rebel stronghold.

Washington recently threatened to take swift and decisive actions against any use of chemical weapons in Idlib.

“This agreement showed that the U.S. has room for maneuver only in the east of Euphrates and Manbij region,” Baburoglu said.

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Pat Buchanan: “The Late Hit” On Judge Kavanaugh

Wha exactly is professor Ford’s case against Judge Kavanaugh?

Patrick J. Buchanan

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Authored by Patrick Buchanan via Buchanan.org:


Upon the memory and truthfulness of Christine Blasey Ford hangs the Supreme Court nomination of Judge Brett Kavanaugh, his reputation and possibly his career on the nation’s second-highest court.

And much more. If Kavanaugh is voted down or forced to withdraw, the Republican Party and conservative movement could lose their last best hope for recapturing the high court for constitutionalism.

No new nominee could be vetted and approved in six weeks. And the November election could bring in a Democratic Senate, an insuperable obstacle to the elevation of a new strict constructionist like Kavanaugh.

The stakes are thus historic and huge.

And what is professor Ford’s case against Judge Kavanaugh?

When she was 15 in the summer of ’82, she went to a beer party with four boys in Montgomery County, Maryland, in a home where the parents were away.

She says she was dragged into a bedroom by Brett Kavanaugh, a 17-year-old at Georgetown Prep, who jumped her, groped her, tried to tear off her clothes and cupped her mouth with his hand to stop her screams.

Only when Kavanaugh’s friend Mark Judge, laughing “maniacally,” piled on and they all tumbled off the bed, did she escape and lock herself in a bathroom as the “stumbling drunks” went downstairs. She fled the house and told no one of the alleged rape attempt.

Not until 30 years later in 2012 did Ford, now a clinical psychologist in California, relate, in a couples therapy session with her husband, what happened. She says she named Kavanaugh as her assailant, but the therapist’s notes of the session make no mention of Kavanaugh.

During the assault, says Ford, she was traumatized. “I thought he might inadvertently kill me.”

Here the story grows vague. She does not remember who drove her to the party. She does not say how much she drank. She does not remember whose house it was. She does not recall who, if anyone, drove her home. She does not recall what day it was.

She did not tell her parents, Ford says, as she did not want them to know she had been drinking. She did not tell any friend or family member of this traumatic event that has so adversely affected her life.

Said Kavanaugh in response, “I categorically and unequivocally deny this allegation. I did not do this back in high school or at any time.”

Mark Judge says it never happened.

Given the seriousness of the charges, Ford must be heard out. But she also needs to be cross-examined and have her story and character probed as Kavanaugh’s has been by FBI investigators as an attorney for the Ken Starr impeachment investigation of Bill Clinton, a White House aide to George Bush, a U.S. appellate judge and a Supreme Court nominee.

During the many investigations of Kavanaugh’s background, nothing was unearthed to suggest something like this was in character.

Some 65 women who grew up in the Chevy Chase and Bethesda area and knew Kavanaugh in his high school days have come out and spoken highly of his treatment of girls and women.

Moreover, the way in which all of this arose, at five minutes to midnight in the long confirmation process, suggests that this is political hardball, if not dirt ball.

When Ford, a Democrat, sent a letter detailing her accusations against Kavanaugh to her California congresswoman, Anna Eshoo, Ford insisted that her name not be revealed as the accuser.

She seemingly sought to damage or destroy the judge’s career behind a cloak of anonymity. Eshoo sent the letter on to Sen. Diane Feinstein, who held it for two months.

Excising Ford’s name, Feinstein then sent it to the FBI, who sent it to the White House, who sent it on to the Senate to be included in the background material on the judge.

Thus, Ford’s explosive charge, along with her name, did not surface until this weekend.

What is being done here stinks. It is a transparently late hit, a kill shot to assassinate a nominee who, before the weekend, was all but certain to be confirmed and whose elevation to the Supreme Court is a result of victories in free elections by President Trump and the Republican Party.

Palpable here is the desperation of the left to derail Kavanaugh, lest his elevation to the high court imperil their agenda and the social revolution that the Warren Court and its progeny have been able to impose upon the nation.

If Kavanaugh is elevated, the judicial dictatorship of decades past, going back to the salad days of Earl Warren, William Brennan, Hugo Black and “Wild Bill” Douglas, will have reached its end. A new era will have begun.

That is what is at stake.

The Republican Senate should continue with its calendar to confirm Kavanaugh before Oct. 1, while giving Ford some way to be heard, and then Kavanaugh the right to refute. Then let the senators decide.

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