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Sympathy for the Devil? Trouble in Paradise for the Bankers

May 19, 2017
 Adam Taggart

Peak Prosperity

Editor's Note: The following is a guest post from PeakProsperity.com.

In our recent report, Banks Are Evil, we pulled no punches in making the accusation that the financial system is the root cause of injustice in today's society.

It's a good blood-boiler. You should read it if you haven't already.

Its main premise is this:

In my opinion, it's long past time we be brutally honest about the banks. Their influence and reach has metastasized to the point where we now live under a captive system. From our retirement accounts, to our homes, to the laws we live under --- the banks control it all. And they run the system for their benefit, not ours.

While the banks spent much of the past century consolidating their power, the repeal of the Glass-Steagall Act in 1999 emboldened them to accelerate their efforts. Since then, the key trends in the financial industry have been to dismantle regulation and defang those responsible for enforcing it, to manipulate market prices (an ambition tremendously helped by the rise of high-frequency trading algorithms), and to push downside risk onto "muppets" and taxpayers.

Oh, and of course, this hasn't hurt either: having the ability to print up trillions in thin-air money and then get first-at-the-trough access to it. Don't forget, the Federal Reserve is made up of and run by --- drum roll, please --- the banks.

With their first-in-line access to this money tsunami, as well as their stranglehold on the financial system that it all runs through, the banks are like a parasite feasting from a gusher on the mother-lode artery.

It should come as little surprise that, with all this advantage they've amassed, the banks have enriched themselves and their cronies spectacularly. They have made themselves too big to fail, and too big to jail. Remember that their reckless greed caused the 2008 financial crisis, and yet, in 2009, not only did bankers avoid criminal prosecutions, not only did the banks receive hundreds of billions in government bailouts, but they paid themselves record bonuses?

And the bonanza continues unabated today. By being able to borrow capital for essentially free today from the Fed, the banks simply lever that money up and buy Treasurys. Voila! Risk-free profits. That giveaway has been going on for years.

Couple that with the banks' ability to push market prices around using their wide arsenal of unfair tactics -- frontrunning, HFT spoofing and quote stuffing, stop-running, insider knowledge, collusion, etc -- the list is long. James Howard Kunstler is dead on: we don't have a free market anymore. Instead, we have rackets, run by racketeers. The rest of us are simply suckers to be fleeced.

But all is not roses if you're a banker these days. Even within the evil machine, there is great disparity in how the plunder is being divided.

Bad Times For Bankers?

A guy I've known since childhood works on the 'sell side' (investment/commercial banking, stock brokers, market makers) and has been telling me how cutthroat things have become over the past few years. The pay structure and job security have deteriorated notably. And he says the same is true for many of his colleagues on the 'buy side' (hedge funds, asset managers, institutional investors), too.

Really?

Even with enjoying the "unabated bonanza" described above, even with the markets back partying at all time highs, things are getting worse for many bankers?

Yes.

And while I personally can't conjure any sense of empathy for these poor devils, it looks like things are going to get even harder for them.

So what's going on here?

Well, it's mostly a story of the banking system's plundering ways coming back to bite it.

Capital Is Fleeing From Active To Passive Funds

First off, by flooding world markets with over $12 Trillion since the Great Recession, the central banks have pretty much destroyed "alpha".

Alpha is the "excess return" that fund managers' fees are based on -- i.e., "you're paying more for a smart guy like me to 'beat the market'". But when a tsunami of liquidity rises all boats at once, it's that money flood (i.e. the central bank money printing) that drives valuations. And its influence is so much larger than any other factor that it's really the only factor that matters. Great and crappy companies alike rise in price -- the "fundamentals" that fund managers use in their analysis become useless.

Which is why 66% of large-cap active managers failed to top the S&P 500 in 2016, and why 90% missed their benchmarks over the past 15-year period.

So it's no wonder that investment capital is fleeing from actively-managed funds to passively-managed ones. If the passive funds have much lower fees AND they perform better than the actively managed ones, why the heck shouldn't money flow into them?

Per CNBC:

A buoyant start to the stock market in 2017 couldn't stop investors from ditching actively managed funds.

The trickle away from stock pickers and toward indexes has turned into a flood, with more than half a trillion dollars heading into passive funds over the past 12 months, according to Morningstar.

Active management in total saw $13.6 billion in outflows for January, mitigated only by net inflows to bond funds, Morningstar said. U.S. equity saw $20.8 billion in outflows, bringing passive management closer to parity when it comes to domestic stock funds.

By contrast, passive management saw just shy of $77 billion in inflows. U.S. equity funds, which track broad indexes like the S&P 500 and its sectors and subsectors, pulled in $30.6 billion for the month.

Overall, actively managed U.S. equity funds now hold $3.6 trillion in assets while their passive counterparts hold nearly $3.1 trillion. All classes of passive funds have seen inflows of $563 billion over the past year, while active funds have suffered $325.6 billion in outflows.

"The massive exodus from actively managed U.S.-equity funds continued in January," Alina Lamy, Morningstar's senior analyst for quantitative research, said in a statement. "The tidal wave is showing no signs of stopping, threatening all but a select few and making active investing a dangerous ocean to swim in."

The result of this is tremendous mounting pressure for active managers to reduce their fees. Lower fees being charged on shrunken fund pools obviously affords fewer asset managers, who in many cases are now working for less compensation.

Keep in mind, between just the ECB and the DOJ, nearly $200 Billion of additional liquidity has been -- and continues to be -- injected into world markets each month(!). So, as the above article says, don't expect the tidal wave of capital fleeing actively-managed funds to stop while the central banks' liquidity spigots are still flowing.

The White-Collar Cost Of Automation

Finance was one of the first industries to embrace the automation boom, given the obscene profits that could be made. In his book Flash Boys, Michael Lewis described how the arms race of high frequency algorithms literally changed the game in terms of how financial instruments are traded -- and made $billions upon $billions of unfair profits for the big banks that invested in the technology.

Well, many of the bankers who cheered the boost the machines gave to their annual bonuses aren't cheering so much now. You know what algo-driven markets don't need? Human traders.

Below is photo of the UBS trading floor from 8 years ago, contrasted with one from this year (source: Zero Hedge):

8 Years Ago

Now

Per the Wall Street Journal:

Technology is replacing people on trading floors and in the middle and back offices where trades are checked, confirmed and settled. Some of this is to give investors an edge in markets with computer-driven tools such as algorithmic and high-frequency trading.

But technology also means more work can be moved offshore or to cheaper locations. More reliable internet links with India, for example, mean people can work together on the same documents or files in real time.

The total number of people employed by all kinds of banking in the U.K. has fallen 22% from its precrisis peak in 2008, or by about 120,000 jobs, according to data from Britain’s statistics office.

Here's another stark example:

Goldman Had 600 Cash Equity Traders In 2000; It Now Has 2

For the dramatic impact of technology, and specifically trade automation from algo, quant and robotic trading on today's capital markets, look no further than Goldman's cash equities trading floor at the firm's headquarters which, according to the MIT Tech Review, employed 600 traders its height back in 2000, buying and selling stocks for Goldman's institutional client clients. Today there are just two equity traders left.

As warned of in our earlier article Automating Ourselves To Unemployment, jobs lost to automation don't come back. More than that, the technology itself lowers the cost structure, ultimately lowering industry profits as other competitors invest in similar tech and the margins are competed down:

Structural changes to the equities business over the last several years, such as the rise of electronic trading, have knocked off around $15 billion from the equities fee pool, according to a report from Morgan Stanley and management consulting firm Oliver Wyman.

Electronic trading has dramatically increased trading volumes, while making the cost of trading much cheaper.

Oliver Wyman partner Christian Edelmann, who co-authored the report, does not see those revenues coming back. "Once the equities model has become technology driven, that's not going to change," he said.

A Cultural Shift To Cost-Cutting

And the jobs cuts aren't just related to technology. As profit margins are squeezed, players in the financial industry are looking for any and all reasons to cut costs.

A current victim of this trend is equity research. For decades, sell side firms like the investment banks offered their clients "expert analysis" from their research departments. Historically, that was bundled into the bank's overall fee it charged its clients.

But now, increasingly cost-conscious clients are demanding to know how much that research is costing them. Especially since almost all of that research doesn't even get read. A recent Reuters article showed that of the 40,000 research reports produced every week by the world's top 15 global investment banks, less than 1 percent are actually read by investors.

It's long been a poorly-kept secret that the research departments were a dependable vehicle for investment banks to bilk their clients for unnecessary profit. Now it looks like that ruse is over. And billions in revenue per year along with it:

Banks have already been trimming their research budgets. Spending on research at the top investment banks fell by just over half to $4 billion in 2016 from $8.2 billion in 2008, according to Frost Consulting.

An industry long known for its "Wolf of Wall Street" culture of excess is now counting its pennies. That's a very significant perception shift.

A Sign Of The End

What's important about all this is not sympathy for the poor bankers who have to accept lower wages or a pink slip. Consciously or unwittingly, they've been foot soldiers for a cabal that's done the greatest evil towards global human rights and prosperity over the past century. Personally, I'll happily take a front row seat, open up a bag of popcorn, and delight in the schadenfreude of watching that industry collapse on itself.

What is important is what all this tells us about where we are in this story. We are now getting close to the end.

For decades and decades, more and more sharks found their way into the financial industry. And for decades and decades, there was plenty of prey for them all to feast and fatten on.

But now we're at the point where there's much less to prey on. So the biggest sharks are now turning on the smaller ones. Those at the top of the industry are trying to preserve their share of the pie -- and if they have to do so by cannibalizing those below them on the org chart, so be it.

It has now become a shark vs shark world.

That's important.

This is happening, mind you, at a time when the banks are in their 8th straight year of enjoying practically-free money from the world's central banks, which is essentially a great wealth transfer from the public's coffers. And at a time when financial assets have been re-inflated to all-time highs.

If things have reached this cutthroat a state when Wall Street is booming, imagine how much more gruesome this "eating their young" dynamic can/will become during a market downturn.

We're at the point where those at the apex of power are becoming increasingly desperate to maintain their unfair advantage. And as the economic pie refuses to grow due to the twin overload of too much debt and declining net energy, these apex predators will turn on each other -- first to maintain their spoils, and then simply to survive.

Things will get nasty in a hurry during that stage, as we warned about in our recent report: Positioning Yourself For The Crash.

While you still can, you want to make sure the bulk of your investment capital is positioned for safety, and you want to make your lifestyle as resilient as possible so that, no matter what jarring developments the future may bring, you and the ones you love are least impacted by them.

From one hero to another: Chris Pratt announces contest to benefit veterans

He may not be a super hero like he plays in the movies, but Chris Pratt is proving once again why he's a hero to so many. The silver screen protector of the universe announced on his Instagram page a contest that will benefit the Brain Treatment Foundation, who is a partner of Mercury One that does amazing work with veterans. The Brain Treatment Foundation specializes in helping combat veterans who are suffering from traumatic brain injuries and post-traumatic stress disorder.

The contest asks fans to donate $10 to the foundation for a chance to win a trip to drop in on the Guardians of the Galaxy star on the set of his new film Tomorrow War.

Watch his video below to hear all the details.


Ryan: The Ascent of Kanye West

Photo by Caroline Ryan

Apollo, god of poetry, light, prophecy, dance. Star of Greek mythology, rivaled only by Zeus, his father. God of justice. God of purification, knowledge, healing. God of the Sun. But most of all, god of music. So they called him the Leader of the Muses.

And on a bright Sunday morning midway through November, at the tail end of a decade, Kanye West looked out at the congregation of Joel Osteen's Lakewood Church, a 16,000-seater originally built for the Houston Rockets, and said, "Jesus has won the victory: Now the greatest artist God ever created is now working for him."

Photo by Caroline Ryan

Kanye's newest album, Jesus Is King, had been out for three weeks, and like every Kanye album, it was controversial, as adored as it was unaccepted.

Critics had shown a mostly tepid response, but nobody could tell if their disinterest was genuine, or if it was politically motivated.

After all, for the past year, Kanye had once again managed to penetrate the epicenter of American society. The last two Presidents had literally shamed and cursed Kanye, but, still, who could've guessed he would befriend this one?

Photo by Caroline Ryan

The week after Kanye's Olsteen appearance, at the House impeachment hearings, as the entire country watched and listened, Congressmen and diplomats would mention longtime Kanye collaborator A$AP Rocky no less than five times, in casual reference to the Kardashians and the deal between Trump and Sweden, struck at the urging of Kanye West.

Meanwhile, Jesus is King became the ninth consecutive Kanye album to debut at number one on the Billboard 200 — a feat he shares with Eminem and The Beatles — and the sixth time in the 2010s alone. And, to be fair, his only studio album not to debut at number one was The College Dropout, his first, which went triple platinum and earned the third-most Grammy nominations in one night, winning Best Rap Album and Best Rap Song with "Jesus Walks."

Photo by Caroline Ryan

Jesus is King was also the first record ever to top R&B/Hip-Hop Albums, Rap Albums, Christian Albums, and Gospel Albums simultaneously. All eleven tracks charted on the US Billboard 100, joining the other 96 Kanye songs to have landed on the Top 100.

Photo by Caroline Ryan

This album was different, and not just because of Kenny G. For the first time, Kanye was not a god or a self-destructive fallen angel. He was a father, a husband, a son, and, most important, a man full of belief, with his hands outstretched, surrounded by a choir.

"I remember sitting in the hospital at UCLA after having a breakdown," he told the congregation, "and there's documentations of me drawing a church and writing about starting a church in the middle of Calabasas."

That night, following an afternoon of ice-skating at the Galleria, Kanye returned to Lakewood Church and performed a concert. Imagine hearing a his electro-gospel opera in an arena designed, acoustically, for professional basketball games. Only better, because everything had been padded. With LSD graphics on the swirly blue carpet.

Photo by Caroline Ryan

When we experience art, it changes us.

So there I was, four rows from the stage, crying in front of FoxNews. Because Kanye had brought his Sunday Service choir with him, and they were singing "Ultralight Beam," one of the few perfect songs ever made, a song that played during my wedding ceremony, the song my daughter, God willing, will be born to, a song I have never once listened to without at least tearing up.

“Jesus Is King" A Sunday Service Experience at Lakewood Church with Kanye West youtu.be

"This is a God dream, this is a God dream. This is everything."

Kanye was the only person onstage dressed in his own clothing, a neatened blazer. The choir were draped in grey, like holy silhouettes.

Photo by Caroline Ryan

So who cares about FoxNews and their snotty reporters in their shoulder-padded blazers. The rest of us had drifted into the immediacy of it all. And I wasn't about to play stoic journalist here. I wasn't a reporter first and a human or an American later.

The choir zigzagged on the loft flanking the stage. Each of them had a headset microphone, like Garth Brooks.

God only knew how they sang so perfectly. How did they project their voices like that? More beautiful than anything we had ever heard, more beautiful than water.

After "Ultralight Beam," it was "Every Hour," the mesmeric opening track of Jesus Is King.

Sing every hour, Every minute, Every second, Sing each and every millisecond, We need you

Every Hour youtu.be

The performance felt all the more sacred because this was church, where people gathered to lose themselves, to sing as a chorus, to confront who they really are.

Across the street, one protestor stood hollering.

Meanwhile thousands of people waited at the entrance, giddy to get in. They would join us in no time. Soon, they would fill every seat in this church.

*

That morning, Kanye told Olsteen,

"It's like the devil stole all the good producers, all the good musicians, all the good artists, all the good designers, all the good business people and said, 'you gotta come over and work for me.' And now the trend, the shift, is going to change."

Jesus Is King was the result of a new cultural and artistic movement that more or less started with 2016's Life of Pablo, Kanye's closeted gospel album. Which was a surprising departure from 2013's Yeezus, with its tangled social commentary and fashionable solipsism. And that drum sound, the one every half-decent producer has spent the last six years failing to emulate.

The 2010's saw him grow more cerebral. He even teased a book of philosophy titled Break the Simulation.

Then, in 2018, he released Ye, the second of five albums in a Kanye-produced series, all recorded at his Wyoming studio. In keeping with the criticisms of hip-hop he voiced on "Ye vs. The People"

Photo by Caroline Ryan

Kanye eschewed many of the themes he'd embraced for so long, replacing them with meditations on mental illness, fatherhood, suicide, love, and addiction. The album's working title had been "LOVE EVERYONE."

On "I Thought About Killing You," he raps,

The most beautiful thoughts are always beside the darkest.

The title "Ye" is not just the diminutive of "Kanye."

As he said in an interview

I believe 'ye' is the most commonly used word in the Bible, and, in the Bible, it means 'you,' so it's [saying] "I'm you, I'm us, it's us." It went from being Kanye, which means the only one, to just ye – just being a reflection of our good, our bad, our confused, everything, that I'm just more of a reflection of who we are, just as beings.

Philosopher Hans-Georg Gadamer wrote that

All individuality is a manifestation of universal life, and hence everyone carries a tiny bit of everyone else with him, so that divination is simulated by comparison with oneself.

In the months following the release of Ye, Kanye would live out this idea, and build his own movement, a reflection of who we are, then begin his church in Calabasas.

*

At 10:30 that morning, the three of us — Samantha Sullivan, my wife Caroline, and me —- strolled into the arena and claimed seats in the media section.

That place resembled the inside of an ant colony. We were three ants.

The service began with errorless music, then shifted into a quick, stirring message by Osteen, who always seemed to appear onstage from nowhere, privvy to the kind of big-money stage tricks you find at a Shania Twain concert.

The entire place and all the Jumbo-Trons and all the people, it all had a cinematic presence.

Photo by Caroline Ryan

A preliminary giddiness spread through the room. Then, Kanye emerged, there on the stage, and the place erupted.

A man in a "Jesus is King" shirt danced around his seat.

Photo by Caroline Ryan

Everyone took their seats, but one man standing in the crowd shouted affirmations. "Speak truth my brother," he shouted.

The man shouted several more times, then Kanye politely told the guy to hold off on the support because it wasn't helping, because Kanye needed relative quiet to capture and release his flow.

The ceiling glowed in skittish purple.

Photo by Caroline Ryan

Kanye described the corrupting force of the media. A chill came over the room. Behind him, the unapologetic blue of Jesus Is King.

It was my first encounter with Joel Osteen, and I was surprised and somewhat baffled to find him likeable, based on everything I'd ever heard about the man.

Kanye said as much, that Osteen is nothing like the version of Osteen many people have broadcast.

Photo by Caroline Ryan

Osteen laughed, "When you've got Kanye defending you, you've made it, man."

Rays of light danced through the arena. I'm talking Pink Floyd light show levels.

Photo by Caroline Ryan

With 21 Grammys, Kanye is tied with Jay-Z as the most decorated hip-hop artist of all time.

Osteen asked Kanye what he would say to his younger self, if he could go back in time.

"You know, it's nothing I can say to the younger Kanye through words," he said. "I could speak to the younger Kanye through music."

*

Osteen played the middle section of "God Is," arguably the focal point of the album.

And Kanye danced and rapped along with it. And the surreality of the situation was daunting. Was that really Kanye West up there? with Joel Osteen? dancing to his gospel song?

Six or seven years ago, I saw Kanye a mile away at the Toyota Center — coincidentally, the current home of the Houston Rockets — for his and Jay-Z's Watch the Throne tour. It was a much different experience than this.

Photo by Caroline Ryan

When Kanye finished, the media flooded out. As did a quarter of the people in the congregation. This bothered many of the regulars.

Security and ushers yanked big grey mop buckets from cabinets, and dispersed them down aisles, and money music played.

Photo by Caroline Ryan

Then the time for prayer. Prayer leaders lined the walls and pews. And anyone could walk over to them and pray. Men and women clung to strangers, crying sometimes, hugging. Holding hands, whispering phrases.

*

One of the media coordinators pulled us out of the sermon, led us through passageways and elevators, past classrooms and security guards, through a black sheet, then behind a barricade.

This is where all the media had rushed off to like old folks trying to get the best seat for bingo.

Each news outlet was allowed one question.

After 15 minutes, the energy changed and you could tell they were near.

Then, Kim Kardashian-West was walking our way, holding her daughter's hand, followed by Kanye, who was followed by Osteen.

Photo by Caroline Ryan

"Nice tags," Kanye said, referring to my "GOOD" necklace.

Then:

Brief interview with Kanye West and Joel Osteen at Lakewood Church, Nov. 17 in Houston, TX www.youtube.com

Some of the outlets asked more than one question, but that was on them. They were the ones sinning in church.

*

As Kanye and Olsteen shuffled away, down the line of journalists, I said hello to a small crew from FoxNews as they packed their equipment.

"We're from TheBlaze," I said, smiling. To which they sneered and glanced at one another then got back to their conversation.
Samantha rolled her eyes and the three of us wandered around for an exit.

"Did we just get stiff-armed by Fox News?" Said one of us. "I didn't think they were allowed to look down on anybody."
"I've had that with people from Fox on several occasions," one of us replied.

"I mean, I thought I was doing them a favor a favor by acknowledging them. Nobody else does."

Then it happened again, a few minutes later, this time with someone we had worked with, someone who knew us.
You bet we were salty.

Bad as it felt to be judged like that, it was good to be underestimated. A relief. It meant we could perform without anyone caring or watching.

They had no idea who we were or what we were really doing. Good.

*

In November 2007, Kanye's mother died during a routine surgery. He and his mom, Dr. Donda West, had always been incredibly close. She raised him alone, after Kanye's father left, when Kanye was three.

A few months later, his engagement with Alexis Phifer abruptly ended.

He was 30 at the time.

Oddly, this tragic sequence of events would cause the birth of auto-tune in rap. Broken-hearted, Kanye wanted to sing. So he ran his voice through a vocoder.

Kanye's album 808s & Heartbreak, which like Jesus is King has no curse words, shoved music ahead at least two decades, into a world of synth-driven robotic R&B/Rap love songs belted out in janky auto-tune. That description doesn't sound ridiculous today. But that's only because Kanye eschewed the stale hip-hop of the early 2000s and reinvented the genre, something he has accomplished with every album.

Photo by Caroline Ryan

Then, he went on tour. But he never took off any time following his mother's death. And, by the 2009 MTV Video Music Awards, he'd fallen to what he calls his sunken place.

He and then-girlfriend Amber Rose brought a bottle of Hennessy with them to the award show. They took slugs in the limo. Then on the red carpet.

When Taylor Swift won the award for Best Female Video, Kanye stormed the podium, sunglasses on, and grabbed the microphone, said "Imma let you finish," then let everyone know the award should've gone to Beyoncé, for "Single Ladies (Put a Ring on It)."

He was kicked out immediately. He tweeted, "Everybody wanna booooo me but I'm a fan of real pop culture... I'm not crazy y'all, I'm just real."

Followed by an apology. Then a few days later, during an appearance on debut episode of "The Jay Leno Show"

Leno asked Kanye, "What do you think [your mom] would have said about this?"

That hit Kanyelike a punch to the jaw. He teared up, froze.

He publicly apologized to Swift. Several times.

But it did little to quell the blowback. Once again, it felt like the entire nation hated Kanye. Compounded by a hot-mic recording of Barack Obama — the country's first black President — calling Kanye a jackass.

So the embattled Kanye retreated to Hawaii to record a masterpiece, 2010's My Beautiful Dark Twisted Fantasy.

*

"We are a Christian country," Kanye said at one point, to uproarious applause.

The vast majority of Americans, 90 percent, believe in a higher power.

Photo by Caroline Ryan

And America has the largest number of Christians in the world, with roughly 167,000,000, comprising 65-to-70 percent of the population. But that's down from 80 percent, as part of a downward trend over the last two decades.

The percent of Americans who attend a religious service of any kind — church, synagogue, or mosque — is even lower, less than half.

Photo by Caroline Ryan

One political scientist blamed the public's growing distrust in institutions. Another blamed conservatives. A writer from New York Magazine took it a step further.

Meanwhile, David French.

As always, the issue is far more nuanced than either side will admit.

Somehow, in the last twenty years, church and religion had become not just uncool, but slightly villainous.

All day, every time I looked around — at people singing, at people dancing, at people crying in joy or in the relief and recognition of their pain — I thought, "How could this ever be a bad thing?"

Photo by Caroline Ryan

I had spent my life going to concerts, had seen Kanye West numerous times, and this was something other than a concert, and unlike anything I'd seen from Kanye. It was also more than just religious or spiritual.

A family of strangers in a city of 6 million, in a world of 7-and-a-half billion, broadcast live, led by a man who fought off the devil in front of us for years. Who struggled with life just like we do, only we could nitpick through the one-way mirrors of our phones and our TVs.

But, now, he had been baptized in public.

Photo by Caroline Ryan

Some people were still negative about Kanye's recent faith, especially Christians. As Kanye raps on "Hands On"

What have you been hearin' from the Christians?
They'll be the first one to judge me
Make it feel like nobody love me

Consensus was, they couldn't believe him. As a Kanye fan since I was 13, I can tell you that he is genuine. It's really his only setting. Plus, his spiritual transformation has been building for quite some time.

*

By the time we returned to Lakewood that evening, the sky had turned dark blue, and frantic with airplanes.

The sidewalks around the arena overflowed with people. Police cars jutted out in crooked lines to block entrances or exits, the strobe of red-white-blue whirling onto pedestrians' faces.

Across the street, facing the giant arena, a man with a bullhorn ranted about the evils of sinful music.

Earlier that day, sheepish protestors had occupied the spot, holding red poster-sized letters that spelled out "I M P E A C H." There were only four of them, though, so they had to double up and share, and sometimes the "H" slanted down or the "I" slipped loose.

"Impeach Kanye?" one of us said, laughing.

"Kanye 2020," shouted someone.

The air was electric. People bounced when they stepped, or walked faster than normal, or turned oddly as they spoke like a third-year professor.

They sang along as they passed traffic-jam cars, most of which were blasting Kanye.

A chorus of police whistles and the usual rumble of semi-trucks passing on US-59. Just down the street, porn shops and strip clubs and a Ferrari dealership. Immediately Southwest, the Mahatma Ghandi District. West, the Galleria, home of the opulent Galleria mall, where Kanye and Kim and family gone ice-skating earlier.

Inside the arena, a different world, low-lit and glowing. A dreamscape of lambent crimsons and violets, a deeper, warmer, slower take on the lights atop the police cars outside. Globular squares of blue were arrayed along the ceiling.

Photo by Caroline Ryan

When the musicians emerged to their instruments, the arena was still half-empty. The show had already been delayed 40 minutes. The demand to get in was so ferocious that the security gate was jammed up like a glass Ketchup jar.

Then, like spirits, men and women drifted onstage in all-grey uniforms and matching hats that looked like they should say "VIETNAM VETERAN" but actually said "Sunday Service."

Every single member wore brand-new grey YEEZY Boosts.

From the start, the performance was cinematic, a sort of new-world opera sung by a chorus of young American muses with nose rings or gold chains or dreadlocks or pink hair.

Photo by Caroline Ryan

From the huddle, a young man rose, and began reciting a poem. It was the invocation of the muse.

Gadamer wrote that poetry "becomes a test of what is true, in that the poem awakens a secret life in words that had seemed to be used up and worn out, and tells us of ourselves"

*

After a whirling rendition of Carl Orff's "O Fortuna," the choir began "Ultralight Beam."

They let the song spread. It grew enormous.

The air swirled as the song widened.

Kanye waited out of view, then appeared without ceremony.

A collective gasp when people recognized the melody of Stevie Wonder's "Overjoyed." Which sounds like a dream already, with all that wilderness.

So it was even stranger when the song morphed into SWV's "Weak," a skating rink anthem written by Charlie Wilson of the GAP Band. A classic.

The choir were their own countervailing force. Yet they also connected us to the drama of the performance.
Looking back, I wish I could live in those moments forever.

*

Then came their cover of "Father Stretch My Hands" by Pastor T.L. Barrett And the Youth for Christ Choir.

Father Stretch My Hands www.youtube.com

Kanye has paid homage to Barrett's track on two different songs, from two different albums.

It was his prayer.

Pastor T.L. Barrett, a man who's lived an exciting and at times difficult life, only to become a Pentecostal preacher on Chicago's south side, and form a choir of 40 teenagers from his weekly choir practice.

If you dive into Barrett, you'll better understand what Kanye is doing.

*

Ten seats from Kim Kardashian-West, Rep. Dan Crenshaw (TX) stared ahead in a neat grey suit, occasionally poking at his phone and blasting people on Twitter.

Which means there were at least two people in the building who have appeared on Saturday Night Live.

There were other politicians, including Texas lieutenant governor Dan Patrick. And even more at the earlier service. You could tell they were politicians the same you can tell a vegan burger from a real Whopper. Several times, Kanye held up his phone up and read the words from his newer songs.

Like "Selah," which built into "Hallelujah"s at the end, intoxicating and perfect, like being sucked into an undertow. Which led into "Follow God," a continuation of "Father I Stretch My Hands."

Kanye uses the image of stretched hands to express his own submission and the process that leads to his healing. As a reference to John 21:18

Very truly I tell you, when you were younger you dressed yourself and went where you wanted; but when you are old you will stretch out your hands, and someone else will dress you and lead you where you do not want to go.

But the song is also about Kanye's literal father, and an argument they had. Then, under it all, he adds a sample of "Can You Lose By Following God" by Whole Truth. He ended the song with his Kanye shriek, somewhat confusing and abrasive with a choir present.

Then — something I did not expect. The thumping bass of Cajmere's "Brighter Days (Underground Goodie Mix)."

And now this was cosmic gospel.

It felt like a rave. Have you been to a rave? It's people dancing, taking MDMA. That is what it felt like.

Flourishes like that were part of Kanye's genius. No other gospel performance would dare. You won't find that kind of diversity at any other hip-hop show, either. The acoustic instruments, the choir. Maybe during a set by electronic musicians like Moodyman or DJ Koze. But, no choir. Yet here Kanye was, at Joel Osteen's church, blasting classic techno.

Oddly enough, though, the most popular song of the night was "Closed on Sunday," Kanye's ode to Chic-Fil-A.

Everyone in the arena knew the words. So then there were two choirs, in a dialogue. I didn't think it was possible, but the collective harmony got even more intense and engulfing than it had all night. So much so that the house speakers started to peak in one corner of the arena.

Photo by Caroline Ryan

The Ancient Greeks were the first to use a chorus. In the 5th Century B.C., 50 actors would gather in the orchestra pit and sing in unison, commenting on the action of the play, describing scenes to the audience. They were a collective force. They represented one character, who was able to connect the audience to the characters and events onstage.

Kim Kardashian was front and center filming with her phone, as two of the West kids jumped around on the trippy blue carpet.

The performance was nearing its end, and suddenly Kanye was dressed like everybody else in the choir. Grey Yeezy kit and the Sunday Service hat. His transformation. From Kanye West to Pastor Ye, stretching hands.

Then, he was gone.
One by one, the choir began fluttering off the stage, to the Clark Sisters' "You Brought the Sunshine."

Half were gone, when I noticed the singer with braided hair crying. With every exhale, she collapsed her hands into the floor. Let them fall like tired flowers. Arrayed in fitful blue. She gasped. She heaved her shoulders like a wingspan. For a moment it was like she would actually take flight.

A security guard peered over the railing from above the stage. He looked like God.Symbolically, he was.

New installments of this series on the 2020 elections come out every Monday and Thursday. Check out my Twitter. Email me at kryan@mercurystudios.com

Stunning evidence Greta Thunberg is a time traveler

Don't believe in time travel? Think it's just a wild conspiracy theory reserved for late night alien radio programs? Well, we have unearthed bombshell evidence that will blow you away and have you questioning everything!

A 120-year-old photo PROVES climate change activist teen Greta Thunberg is actually a time traveler warning all generations of the dangers of global warming.

Glenn did some exhaustive research and found several other photos and subjects in historical paintings. Check them out here and see if you are now a believer:

Warning Elvis fans

Ryan: Suction energy, pt. 1

Photo by Sean Ryan

After his speech at the Boone County fairgrounds, Joe Biden nodded and people engulfed him like he was their oxygen. Journalists shouted questions, photographers shoved people aside. Biden's bodyguards even drew closer. I found a good oak tree and hid out in the shade, 100 yards from the chaotic huddle.

Photo by Sean Ryan

They shoved closer and closer and closer, with a vacant urgency to their eyes. They had to get as close as possible. It was like some force of nature had taken control of everyone, and now their only goal was to merge their lifeforce with Biden's.

The frenzy of writhing arms and contorted bodies reminded me of Shark Week, when the hulking Great White breaks through the protective cage and how's the diver gonna make it out alive this time?

*

A need for convergence, often leading to upheaval.

Most of the Democratic candidates caused this effect. As did their opponent, to a far greater degree. Because he was the president, and he was Donald Trump, so, for the time being, he embodied this magnetism more fully than anyone else in the entire world.

Photo by Sean Ryan

Every time Trump entered a room or a building or a space of any kind, every person within a reasonable distance felt it. And they couldn't help but bob their head around, and arch up on their tiptoes, scouring till they saw him, and then all they could do was lean forward and wonder if it was actually him.

Some of the Democratic candidates had a stronger magnetism than others. Which meant the gravitational pull had laws that guided it. The term I started using for it was "suction energy."

It was something you could physically feel.

At the Iowa State Fair, Bernie Sanders' suction energy was so intense, so visceral that it reminded me of a hurricane.

Photo by Sean Ryan

People wanted to be as close to the man as possible. They wanted a picture. Proof that it happened—that they had actually seen someone that famous.

And they were perfectly right. And their reactions were understandable and lovely even, and altogether innocent. Encouraging. Because they were genuine.

Even journalists were susceptible to suction energy. In fact, they could spazz even harder. Unlike the public, they were there as workers.

*

Suction energy is an art, something you cultivate. But it's also a result of luck and reality. Some people will just never have an ounce of it.

Take, for instance, Jay Insleey, who was apparently a Democratic presidential candidate in the 2020 election. At some point in my travels, I wound up in the same place as him.

Maybe it was a couple times. A couple, two, three. I can't remember.

All I know is that I went to Clear Lake, Iowa for the Democratic Wing Ding, to see Joe Biden and Elizabeth Warren and the 20 other candidates, and this guy Jay Insless ... sorry, I mean Inslee took the stage at some point. It's hard to say when exactly because, as I mentioned, he was impressively forgettable, like a human thumbtack.

Wing Ding featured Jay Insee?Photo by Sean Ryan

He was yammering about something, and, man, he looked and sounded like P.C. Principal, from South Park, and that was pretty funny.

I told my dad, and then we were both laughing. Then my dad did an imitation of P.C. Principal, and we were really hooting.
Then all I could think about was P.C. Principal. So I ducked out into the hall to watch a P.C. Principal clip compilation, and I laughed and laughed and nobody went "Shush!," because there were plenty of others like me.

Photo by Sean Ryan

And, boy, I laughed. I was actually a bit sad when the clip was over. I'd forgotten where I was, and when I caught a glimpse of the guy onstage, my sadness deepened into pity. The feeling you get when you realize that the amateur thinks he can beat the professional. When the replacements think they will know valor. When your dog thinks they're going to the park, but really it's the vet, and they wake up without balls.

Do we have an obligation, a moral imperative, to tell a Square when she's trying to shove into a Triangle hole? How much teeth-lettuce does a person lodge into their incisors before you are inclined to alert them?

Like, after this speech, that guy John Insley, would wander around the walkways of the Surf Ballroom, same as Kamala Harris and Andrew Yang, only he'd lack their glow.

Crowds flocking to Kamala HarrisPhoto by Sean Ryan

At one point, he'd clench his jaw into what must have been a smile, ready for any nearby journalists to sneak a candid photo or rush forward for a quote.

Photo by Sean Ryan

If any of the others noticed, they didn't let on. So here was this chubby kid in a costume knocking on the front door, and I know full well Halloween was weeks ago, but who's gonna feed the harmless lie if I don't?

Photo by Sean Ryan

Nobody, that's who.

So I groaned and shrugged and told my dad, "Let's give the tubby kid some Starburst."

"Wha?" he asked.

Then I asked would he get a picture of that candidate over there.

"Who," he replied. As in, "I can't see an important person over there, which one is running for president?"

In other words, Insleep had absolutely zero suction energy. To a near-magical extent.

Within a few weeks, he would announce the end of his campaign on The Rachel Maddow Show.

Yet there he was, somehow center stage, looking out at the packed Surf Ballroom, where, on February 2, 1959, Buddy Holly played his last show.

Photo by Sean Ryan

Buddy Holly, now there's a man with suction energy. So much suction energy that, when he died, music went with him.

*

When I saw Kamala during the week of the Iowa State Fair, she was at the height of her campaign, having climbed to second place, within nine points of Biden.

Everywhere I went, there was Harris, with her personalized KAMALA bus, and her chartered press pool, and her entourage of staff and fans and media.

Photo by Sean Ryan

On the first Saturday of the Fair, my dad and I wound up seeing Harris five times. Five times! In part because she could hustle. She wanted that job. But also because she understood power and optics.

Before her speech at Jasper Winery, (when she played savage 4D chess with Andrew Yang, she spoke to several hundred people packed into the atrium of Valley Southwoods Freshman High School in West Des Moines, her fourth rally of that day.

Photo by Sean Ryan

When she finished her speech, a horde surged straight for her, eighty or so.

Photo by Sean Ryan

Just a month earlier, The New Yorker had run a glowing profile on Harris. That was huge. As of the release of this story, Harris was the only 2020 presidential candidate that The New Yorker had featured.

Photo by Sean Ryan

At that point of the election, excitement for Harris was so intense that it seemed obvious she would get the nomination, or close to it. So I wrote five pieces about her.

But by the time I finished all five stories and added them to the publishing schedule, Harris had sunk 11 points to 4 percent, which put her in 8th place. In New Hampshire, the first state to hold primaries, she was polling at 1 percent. By comparison, Biden, Warren, and Sanders were locked at 19.

Now, the only headlines were about her foundering campaign and her dwindling cash and her downsized staff. In each case, the sentiment was the same, "Whatever happened to Kamala Harris?"

Which answer a question I posed in my first story. Would Harris "I got this one in the bag" attitude help her or ruin her? Turns out the ostentatious bus and the unnecessary press accommodations had been a premature move, and now she just seemed cocky.
Because suction energy can, and often does, vanish in an instant.

A Bernie can always become a Jay InslepInslee. Nobody is immune, no matter how powerful they appear. Look at Bill Cosby. Harvey Weistein. Both were godlike in their power. Both had a gravitational pull so intense that they raped women for decades and nobody did a thing. Cosby's suction energy was so intense that he collected honorary degrees like a vacuum collects dog hair. 70 of them. Then, off to prison to eat pudding in the dark.

By the time I saw Harris at the Democratic Debate in Houston, a month after she stormed Iowa, she'd begun transforming into Joe Biden, focused on all the wrong things, laughing at her own jokes, without realizing that nobody else was laughing.

New installments of this series on the 2020 elections come out every Monday and Thursday. Check out my Twitter. Email me at kryan@mercurystudios.com