Debt Rattle May 10 2018
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Paul Gauguin Road in Tahiti 1891 • Beware of the Coming Economic Debt Bomb (Tanous) • Argentina Looks To Be Headed For Another Economic Storm (
[See the full post at: Debt Rattle May 10 2018]“Did You Know the Greatest Two-Year Global Cooling Event Just Took Place?”
Whoa; Paul Gauguin Road in Tahiti 1891
What a feast for the eyes…
I loved Graeber’s Debt; the First 5,000 Years; this interview, not so much.
It’s not that I disagree re: bullshit work but, so what?
Most of my working life was productive, literally (manufacturing/engineering), but as Graeber said, those jobs are rapidly disappearing.
At this juncture there are no viable options/solutions.
Until that fact is acknowledged, no solutions will be found, IMO.This is how the Nation (Thai newspaper) views Trump violating the Iran nuclear agreement
It’s not an accident or coincidence, it’s a structure. Those in power pay government and other powers, the SEC, media, banks, to pay them more in a vicious cycle. More power = more rigging = more power. That’s not natural at all, it’s market rigging, advantaging contrary to anything like “law”, “society” or “capitalism.” Anyhow, the system is then rigged to give money to those who don’t work and away from those who do work.
Why? Because obviously people who don’t work want to get paid anyway — something for nothing: that’s the whole reason to rig things! And they can only get money from productive sectors, i.e. those few who do work. Although this is always the case, this is done in our system via banking, credit, money-printing, and monopoly/regulation/protectionism.
So short answer, the banking system profits reckless speculators and toll-making rentiers that don’t work over productive sectors that build real things. As the power increases, the money-funnel increases infinitely until all $12T GDP is spent exclusively on market-rigging, paper-shuffling theft, and $0 are spent on making things.
In fact, it’s worse than that. For 30 years the speculative, parasitic system has been openly mining the wealth of the productive, “capital” and “capital goods” like factories, machine tools, grain silos, railroads, and worker training, then blaming the victim, not the thief. As always happens. Remember Minski’s hedge borrowers, speculative borrowers, and Ponzi borrowers? At the end, they keep profit and power in a hollow economy by Ponzi borrowing, that is, they stop working and mine real household assets to gamble at the casino, and this works as well for the nation as it does for grandma: i.e. insolvency and complete collapse.
Bad news: we no longer have a nation.
Good news: since it was all rigged and fake, completely irrational and counter-capitalist, all we need to do is STOP LYING, STOP RIGGING, enforce any level of ordinary, traditional law and equal justice, and the system will recover almost immediately. (Unfortunately, from the position of having been flattened and put in disarray, with a maximum of things we don’t need like OLEDs, lawyers, and hedge funds, and a minimum of real things we do like foundries, bridges, and power plants.)Dr D. you are a breath of fresh air. My sweet ranting Nicole Foss avatar of the comments section. Always so spot on and more often than not very educative. I’m always more than excited to read your essays when Raúl posts them too. Keep up the clear eyed world watching while I hopefully lapse into meditation and the emptiness of a thoughtless mind hole.
Well hopefully.If only the gran kids made the time to listen.
I might be able to help them understand and survive in our existing changing social/economic systems.Mastering walking on water is not required.
When will they stop the destruction?
Will there be anything worth having after the destruction?Conricus said Israel had notified Russia before the strikes began.
The Israeli newspaper Haaretz quoted an unidentified security official as saying Israel’s attacks inside Syria were the most extensive since the two nations signed a disengagement agreement after the October war of 1973. Israel has warned it will not permit Tehran to establish a permanent military presence in Syria, accusing Iran of moving drones and missiles into its Arab neighbour. Iranian forces have been sent to aid the Syrian government in a devastating seven-year civil war against insurgents.
” It is being caused not by a stalemate between leftist governments and a reactionary business sector but by leftists in government who have reneged on their principles. ”
The absence of a functional left in USA politics is very OLD news; surprised anybody can make money peddling such information.
” For 30 years the speculative, parasitic system has been openly mining the wealth of the productive, “capital” and “capital goods” ……, then blaming the victim, not the thief. ”
This is what happens when Zioglobalism (“vacuum-up” capitalism) empowers itself by anti-Logos subterfuge aka psychologic enslavement. Ironically, the pseudo-victims demonize the true victims as a very sick empowerment game.
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