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by Charles Hugh Smith from Of Two Minds Narcissistic Consumerism and Self-Destruction Health is horribly unprofitable; illness, anxiety and alienation are highly profitable. That is the destructive essence of our sociopathological “engine of growth,” narcissistic consumerism. Today I want to extend the discussion of a topic that I believe is absolutely central to “why things are falling apart”: our dependence on a peculiarly adolescent narcissistic consumerism for identity, meaning and economic growth. Understanding the consequences [...] George Soros has been a busy man the last few days. Appearing at the INET Conference a number of times and penning detailed articles for the FT (and here at Project Syndicate) describing the terrible situation in which Europe finds itself – and furthermore offering a potential solution. Critically, he opines, the European crisis is complex since it is a vicious circle of competing crises: sovereign debt, balance of payments, banking, competitiveness, and structurally [...] From FT: In domestic election campaigns European politicians display a kind of cognitive dissonance. They must be aware that any propositions on European policy will be subject to close reading in the embassies and chancelleries of their partners, yet they tend to talk as if they will only be heard by a domestic audience. The French Presidential campaign, which officially began on Monday, is a case in point. All the major [...] From Jim Quinn’s The Burning Platform: “Human history seems logical in afterthought but a mystery in forethought. Writers of history have a way of describing interwar societies as coursing from postwar to prewar as though people alive at the time knew when that transition occurred.” – Strauss & Howe - The Fourth Turning Watching pompous politicians, egotistical economists, arrogant investment geniuses, clueless media pundits, and self-proclaimed experts on the Great Depression predict an economic [...] For today’s definitive example of peak cognitive dissonance and self-delusion among those who determine the monetary fate of the world no less, look no further than the Dallas Fed’s Dick Fisher, who just said the following according to Reuters: No one presently believes that the Fed is going to proceed with QE3 Funny considering earlier, we got this from Goldman’s Bill Dudley: No decision yet on QE3, New York Fed’s Dudley says Finally, there is [...] Where’s My Refund? By Cognitive Dissonance
Beginning way back when my children grew old enough to work ‘on the books’ and thus earn enough taxable wages to ‘voluntarily’ pay their (Social Security and Federal/State/County-Local income) taxes and ‘voluntarily’ file a Federal Income Tax return (oh sweet puberty) I’ve handled the annual spring rite of documenting their IRS 1040 wage slavery by filing their tax returns for them. This ‘voluntary’ documentation always includes spouses and/or girl-boyfriends….and occasionally even [...] “You never go full retard.” “Check it out. Ron Paul, ‘Rain Man’, look retarded, act retarded, not retarded. Counted gold, kill the Fedral Reserve. Autistic, sho’. Not retarded. You know Rick Santorum, ‘Cognitive Dissonance.’ Slow, yes. Retarded, maybe. Sweater vests. But he charmed the pants off Iowa and won a Google competition. That ain’t retarded. Mitt Romney, ‘Mr. Wall Street’ Infantile, yes. Retarded, no. You went full retard, man. Never [...] The Golden End Game – A Thought Experiment
Part One of Two By Cognitive Dissonance
With limericks by The Limerick King
This is part one of a two part exploration into what the world might look like after a total or partial collapse of the currency/economic system from the perspective of holding Gold. As the title explains this is a thought experiment, not a dissertation filled with footnotes and references. Consider it one man’s flight of [...] Carl Herman The US and Israel lie for war with Iran in two key areas of propaganda that you are responsible to understand if you want a US government operating UNDER the law: Iran’s president never physically threatened Israel. This is why I removed all my assets from the “financial markets” nearly three years ago. Ok, I was a tad early, so sue me. MF Global’s Customer Assets – STOLEN – And Nothing You Hold In This System Is Safe This is a scandal of the first order, and a severe test for the Obama Justice Department, the regulatory agencies, and the exchanges. This is a great crime, undeniably premeditated, and [...] by ZH During his recent lengthy discussion on the broad topic of global central bankers, optical backstops, and our coordinated cognitive dissonance, Kyle Bass, of Hayman Advisors, suggested everyone read“The Black Swan Of Cairo” penned by no less a tail-risk philosopher than Nassim Taleb (and Mark Blyth). The Foreign Affairs article from June 2011 brings into clear prose the fascinatingdichotomy between the centrally planned smoothing efforts of world bankers and politicians and the inevitable (and [...] ritholtz If QE 3.0 appears, it will be the last QE. It must be at least $1 trillion because QE 2.0’s $600B was ineffective. Either it will work or it will provoke even more damage than QE 2.0 produced. The central bankers, pundits and Street shills that cannot see or admit that QE 2.0 was an abject failure are hopeless. As we stated in yesterday’s missive, the cognitive [...] There is a widely held belief among those who wish for ‘the truth’ to be exposed that once this is accomplished the insanity will begin to unravel and a new day will dawn. Unfortunately this belief is erroneous, delusional even, and by itself also a part of the insanity. The uncomfortable and extremely inconvenient truth is that ‘truth’, regardless of where it originates or [...] End Game – Would US Police/Troops Fire Upon US Citizens? By Cognitive Dissonance This is the first in an occasional series examining the end of the American Empire and the global shock waves it will produce. Contrary to popular belief I suspect the unraveling will take place over many years, decades even, with sudden plunges and slow partial recoveries aka dead cat bounces. I call this series [...] By John R. Taylor, Jr. The market outlooks we are receiving for this next year are as diverse as we have ever seen. Our most by Cognitive Dissonance This chart from www.shadowstats.com says it all. This is why the average household now needs two incomes to provide what one did 30 years ago. |
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