I’ve found myself entangled in theft
Once, when I was five
I find pleasure in stealing
It’s as straightforward as that
Well, it’s simply a fact
When I desire something,
And I feel unwilling to pay for it
I walk right through the door
Just stroll right through the door
Hey, all right!
If I get away with it, it’s mine
Completely mine!
– Been Caught Stealing, by Jane’s Addiction
“No Cause for Alarm”
Theft takes on various forms, including robbery and stealing.
There’s fraud, force, white-collar crime, clever pickpockets, home burglaries, insurance scams, breaking and entering, credit card fraud, government kickbacks, hold-ups, carjackings, and embezzlement, among many others.
Ultimately, they all boil down to one concept: unlawfully taking someone else’s property, including money, without permission or legal rights.
Stealing without consent is undoubtedly barbaric. And it seems that barbarism is on the rise…
In California, the demand for plywood has surged, as it serves as an ideal material for securing broken windows after flash mob thefts. It also acts as protection against future incidents.
For instance, in Los Angeles, nearly $340,000 worth of goods were stolen by flash mobs from November 18 to 28, causing an additional $40,000 in property damage.
“No cause for alarm,” declared Los Angeles Mayor Eric Garcetti amidst the chaos of smash-and-grab incidents.
While fourteen individuals were arrested, all were released long before police reports could be filed. Many met Los Angeles County’s no-bail criteria.
Although California’s state-wide policy of imposing $0 bail for misdemeanors and minor felonies ended last year, LA County continues to enforce this misguided policy with no hesitation.
This creates an environment where flash mob robberies seem to be incentivized. Before delving further into theft and robbery, let’s ponder the retail landscape…
Knockout Punch
Years of competition from online retailers led to a critical oversaturation of physical stores. Why contend with crowds when you can order whatever you need from your living room at the best price?
Property managers have gotten inventive, transforming vacant spaces into indoor trampoline parks, laser tag arenas, and virtual reality gaming rooms to maintain lower vacancy rates.
While these entertainment venues help attract visitors and contribute to food court traffic, they do not support the production needed for genuine economic growth. Instead, they mark the decline of traditional retail shopping centers.
Retail has struggled for many years, and the pandemic lockdowns seem to have delivered the final blow. Isolation led to an increasing number of shoppers turning to online stores.
Now, Amazon delivery vans line the streets, while empty strip malls provide overnight parking for vast fleets of these vehicles. They have become ubiquitous.
Meanwhile, high-end retail appeared to have carved out a stable niche. A $1,000 purse often symbolizes vanity over practicality. Fashion boutiques on Rodeo Drive and Melrose Avenue serve to flatter egos in unique ways.
However, this immunity was tested last month when thieves shattered the windows of luxury stores like Louis Vuitton and Saks Fifth Avenue on Rodeo Drive during a failed robbery attempt.
Perhaps next time the robbers will bring a sturdier sledgehammer. What will happen then?
The rise of flash mob robberies stems from various factors, including social media. It provides a platform for individuals with grievances to quickly gather and disrupt businesses.
The internet offers yet another advantage: a vast marketplace where stolen goods can be sold beyond traditional platforms. Thieves can utilize sites like eBay to undercut market prices, yielding impressive profit margins.
These technological advancements, paired with lenient penalties, facilitate large-scale retail theft. However, a more sinister factor may be contributing to this trend.
The Joy of Stealing
Government policies that lead to inflation play a significant role in encouraging these acts of barbarism. Weak monetary policy produces weak-willed individuals. When the reckless expansion of currency disproportionately benefits the wealthy, acts of aggression, including theft, can become tempting.
We do not endorse theft in any form. We stand firmly against any aggression towards persons and properties. But we cannot ignore the visible disparity wherein an entire class seems to escape consequences for substantial theft.
For instance, no banker or mortgage broker faced jail time for the extensive fraud surrounding the 2008-09 housing crisis—even Angelo Mozilo, who pocketed $45 million in ill-gotten gains. That’s just the tip of the iceberg.
In the past 24 months, the Federal Reserve has created over $4.5 trillion in fiat currency, which has been injected into the economy by the U.S. Treasury. All this ‘free money’ comes with dire repercussions; inflation inevitably follows such monetary tactics.
Price inflation erodes the savings and earnings of working individuals and retirees, fostering a climate ripe for theft and senseless violence. Here’s why…
John Maynard Keynes, a pioneer in modern economic intervention, explained the correlation between currency debasement and economic deterioration succinctly in The Economic Consequences of the Peace (1919):
“Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate but do so arbitrarily; and while this process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches undermines not only security but also confidence in the fairness of the current distribution of wealth.”
“Those who gain windfalls from the system, beyond their deserts and even their expectations, become ‘profiteers,’ inciting the ire of both the bourgeoisie—whom inflation has destituted—and the proletariat. As inflation progresses, the real value of currency fluctuates wildly, distorting permanent relationships between debtors and creditors that form the foundation of capitalism, transforming wealth acquisition into a gamble.”
“Lenin was undoubtedly correct. There is no more subtle or effective means of destabilizing the existing societal foundation than to debauch the currency. This process unleashes destructive forces embedded in economic law, achieving its ends in ways that most people cannot discern.”
This description perfectly encapsulates the rampant barbarism occurring in America today.
Currently, a significant level of theft is being perpetuated by the federal government against its citizens—including you. If that doesn’t stir some emotion in your heart, we’re not sure what will.
Sincerely,
MN Gordon
for Economic Prism
