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by Charles Hugh-Smith If you set out to design a system that would implode with devastating consequences, it would be the Keynesian Cargo Cult’s neofeudal financialization debtocracy.
The heart and soul of the Keynesian Cargo Cult is the dogma that the cure for all economic ailments is more aggregate demand, i.e. consumption. The Keynesians’ fanatic faith in boosting consumption would be merely childishly naive if it didn’t directly support a parasitic neofeudal debt-serfdom. [...] Ethan A. Huff If you went up to the average person on the street today and tried to explain that most Americans drink, bathe in, and wash their dishes and clothes in an industrial waste product that is linked to causing endocrine disruption and cancer, you might be labeled a loon. But this is exactly what millions of city-dwellers do every day without realizing it, thanks to an outdated [...] from Zerohedge: It has been a while since we looked at the Baltic Dry Index, which when normalizing for the excess glut in dry container ship supply (such as right now – 5 years after all the excess supply in the industry – has long been normalized), continues to be one of the best concurrent indicators of global shipping and trade. We look at it today, moments ago it just posted an epic [...] From Liberty Classroom: The other day, the Huffington Post ran an article by a Bonnie Kavoussi called “Eleven Lies About the Federal Reserve.” And you’ll never guess: these aren’t lies or myths spread in the financial press by Fed apologists. These are “lies” being told by you and me, opponents of the Fed. Bonnie Kavoussi calls us “Fed-haters.” So she, a Fed-lover, is at pains to correct these alleged misconceptions. She must stop [...] By Michael What if there was a financial system that would eliminate the need for the federal government to go into debt, that would eliminate the need for the Federal Reserve, that would end the practice of fractional reserve banking and that would dethrone the big banks? Would you be in favor of such a system? A surprising new IMF research paper entitled “The Chicago Plan Revisited” by Jaromir Benes and [...] by WashingtonsBlog
What Do Economic Indicators Say? We’ve repeatedly pointed out that there are many indicators which show that the last 5 years have been worsethan the Great Depression of the 1930s, including: The housing slump The bank charge off rate The collapse in world trade The withdrawal of short-term credit The level of inequality between rich and poor (too much inequality destroys economies) The interconnectedness of financial systems and economies worldwide (interconnectedness leads to financial instability) Runaway spending and greed Mark McHugh reports: Velocity of money is the frequency with which a unit of money [...] From Charles Hugh Smith: Longtime readers know that I have presented various options to our costly (and therefore doomed) sickcare system. I have suggested a “cash only” system, and observed that the Veterans Administration (VA) offers a model for a national opt-in health care system that would offer an alternative to the hopelessly corrupt “fee for service” sickcare. Stripped of purposefully obscuring complexity, sickcare is a system of State-sanctioned cartel skimming that [...] This is a country whose people self-righteouslycriticize China for its human rights abuses. This is a country where the public has been aghast at Singaporean laws against chewing gum, and its “harsh” penalties for violations of the law. This is a country whose people have propagated rabid fear-mongering against Muslims, on the grounds Islam supports poor treatment of women and arbitrary and severe punishments (and I haveargued in the past that American [...] by John Galt
If you read the mainstream media, pro-Obama websites like “Business Insider” or “CNBC.com,” you might be under the idea that this past Friday’s unemployment report was no big deal, housing has bottomed, and the transportation industry is indicating that growth is back in this anemic economy if you read the headlines and did not do your own research.
Well hell, I’m here to do the [...] Ethan A. Huff It has been more than a year now since the massive 9.0-plus magnitude earthquake and corresponding tsunami devastated the Fukushima Daiichi nuclear power plant on the eastern coast of Japan, sending untold amounts of nuclear radiation into the environment. And to this day, the threat of nuclear fallout is ever-present all around the world in what some have described as a “nuclear war without a [...] Becky Akers “In loco parentis” is a slogan the State takes seriously. Very seriously. Throughout history and around the world, governments have savaged citizens as lethally as the most abusive father when they aren’t smothering us worse than any helicopter-mom. Leviathan also interprets the phrase literally when preying on its youngest serfs. Indeed, the beast and its apologists assume that bureaucrats and politicians are far wiser, more loving, and more [...] …And Funds to Help Homeowners HAVEN’T Been Paid Zero Hedge Apologists for government bailouts push two main myths: That all of the bailout funds have been repaid That the bailouts helped the average American But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths. Today, Romero wrote the following to Congress: After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to [...] From Washington’s Blog: Apologists for government bailouts push two main myths: - That all of the bailout funds have been repaid But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths. Today, Romero wrote the following to Congress: After 3 1/2 years, the Troubled Asset Relief Program (“TARP”) continues to be an active and [...] Infowars.com COMMENT: Apologists here for Obama’s use of executive orders point out the other recent presidents who’ve also overreached their use of executive orders. This makes the abuses more important, not less, as this has been an on-going deviation from the Constitutional limits of the president since at least FDR in the 30s. An executive branch run wild makes the abuses of kings and dictators almost inevitable. That [...] Jennifer Abel Ever since 2010, when the Transportation Security Administration started requiring that travelers in American airports submit to sexually intrusive gropings based on the apparent anti-terrorism principle that “If we can’t feel your nipples, they must be a bomb”, the agency’s craven apologists have shouted down all constitutional or human rightsobjections with the mantra “If you don’t like it, don’t fly!” This callous disregard for travelers’ rights merely paraphrases the words of Homeland Security [...] By Eric J. Fry • April 18th, 2012 • Related Articles • Filed Under Derivatives are the “meat and meat by-products” of the financial markets. They look, smell and taste just like regular securities, but almost no one understands why we need them in the first place. After all, what’s wrong with actual meat? Or to re-phrase the question: Is Spam really an advancement over ham? More importantly, can we trust the derivatives markets? Or might they be toxic? [...] Click Here To View The Original Article On Seeking Alpha… Details Of The $291 Trillion In Derivatives To Which American Taxpayers Are Exposed The entire US GDP is less than $15 trillion each year. The gross notional amount of derivatives issued in the USA is more than $291 trillion. Does that sound like a lot? Apologists for derivatives dealers don’t like it when we talk about derivatives in terms [...]
A Time for Folly 4-2-2012 What better time to release a story about Britain’s latest move towards a surveillance state than April Fools’ day?
We were told yesterday – sadly it was no joke – that the threat of terrorism is to be used as an excuse to give the state the power to snoop on all our web traffic, to keep an eye on the websites we read, to note with whom we [...] Zero Hedge As we have pointed out before, the ongoing market tension is so palpable it can be cut with a knife. As a reminder, institutional investors are now about as “all in” as they can be, spinning narratives about economic growth, housing bottom, and general improvement (despite all facts to the contrary), while waiting for one simple thing: to get retail investors buying again. Because unless the Fed or ECB pumps another [...] Take for example ww2 when Japan attacked us in Pearl Harbor because of sanctions put on them…. So, regarding economic factors in the start of the war: In the early 1930s the Smoot-Hawley Tariff, a tariff imposed on imports by the US, hit the Japanese textile industry very hard. The view of many Japanese politicians and pundits at the time was that the US had dragged Japan kicking and screaming into [...] James Jaeger Ron Paul will ride the GOP Bull as long, and as far, as he can because if he doesn’t, he won’t maintain as much of a media presence. This is a sad state of affairs — that the media has become an apologist not only for the entrenched government but the corporatocracy that purchases its TV advertisements and funds the political debates. As a result, Americans must [...] Infowars Nightly News In the video below, CNN’s Dana Bash is repeatedly criticized for her unfair coverage of Ron Paul. On January 2, the corporate media correspondent said she was worried about the possibility of Paul doing well in the New Hampshire primary. Paul came in second behind Mitt Romney on January 10. Near the end of the video, Bash says she has received a lot of negative email about her biased [...] Kurt Nimmo In the video below, CNN’s Dana Bash is repeatedly criticized for her unfair coverage of Ron Paul. On January 2, the corporate media correspondent said she was worried about the possibility of Paul doing well in the New Hampshire primary. Paul came in second behind Mitt Romney on January 10. Near the end of the video, Bash says she has received a lot of negative email about her biased interview on [...] They played the game of musical chairs too long. Their mistake. Why not make Europe move a step forward instead of making You could do Mary Anastasia O’Grady across a continent http://online.wsj.com/article/SB122265260912184329.html Krugman’s create the prospect of inflation / convince it will From Economic Policy Journal: Michael Tomasky at Newsbeat has come out with an attack on Ron Paul, with old charges that Justin Raimondo answered in 2008. Tomasky goes on to call Dr. Paul a “pestilential little locust” and a “Batty old reactionary.” . What’s up with the Tomasky attack. He explained it all in 2010 in a commentary titled GOP wrecking: As I’ve written many times, Democrats in general still tend to think [...] Jonathan Benson For over 20 years, the dogma of man-made global warming has been trumping sound science and even basic logic. The result has been a global movement of pseudo-scientific alarmism about climate change that seeks to solve it with scams like global carbon taxes. But a simple visual chart put together by Jo Nova shows how governments, industry, and Wall Street have been behind the global warming scam [...] by ZH And there goes European air traffic once again, with its already stagflationary economy to follow down the drains momentarily. At least depressionary apologists will have something to blame on the Q2 GDP plunge on. More: Iceland’s most active volcano started erupting Saturday, with a white plume shooting 18,000 feet into the sky, scientists said. The eruption was followed by around 50 small earthquakes, the largest of which [...] http://www.oftwominds.com/blogapril11/students-exploited4-11.html
Students and parents, wake up: your only salvation lies in political engagement and action. Of all the exploitative systems in the U.S., none is more rapacious than the Education Cartel. Like the proverbial frog that is unaware that it’s being boiled because the water temperature rises so gradually, college students and their parents are unable to recall what higher education was like before students were herded into debt-serfdom. Apologists [...] by Charles Hugh Smith from Of Two Minds Students: You Are Exploited Debt-Serfs Students and parents, wake up: your only salvation lies in political engagement and action. Of all the exploitative systems in the U.S., none is more rapacious than the Education Cartel. Like the proverbial frog that is unaware that it’s being boiled because the water temperature rises so gradually, college students and their parents are unable to recall [...] by Jim Quinn of The Burning Platform Take This Job And Shove It Barack Obama and his minions were out in force on Friday declaring that the 216,000 jobs added in February are proof of a recovering economy. The unemployment rate fell to 8.8%, down from 9.8% in April 2010. All it took was 2.8 million Americans to leave the labor force to achieve this fabulous reduction in the [...] Chernobyl: Consequences of the Catastrophe for People and the Environment. This is the “Forward” as an opening salvo : - More than 22 years have passed since the Chernobyl catastrophe burst upon and changed our world. In just a few days, the air, natural waters, flowers, trees, woods, rivers, and seas turned to potential sources of danger to people, as radioactive substances emitted by the destroyed reactor fell [...] I have very almost completed reading this book. It is highly relevant to this thread, and a must read by all those concerned … Chernobyl: Consequences of the Catastrophe for People and the Environment. PDF This is the “Forward” as an opening salvo : - More than 22 years have passed since the Chernobyl catastrophe burst upon and changed our world. In just a few days, the air, natural [...] By Sam Youngman Vice President Joe Biden, speaking at a fundraiser in Philadelphia Friday, compared Republicans in Congress to people who excuse rapists by blaming their victims. The vice president, known for speaking his mind and at times putting his foot in his mouth, said that Republicans who want to cut spending while at the same time cutting taxes for the wealthy are similar to rape apologists. In [...] |
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