Feeds:
Posts
Comments

Archive for April, 2013

.

Like the fractional reserve banking system, the entire financial services industry is a fraud.

Source.

………………

I would add: there is no such thing as “Financial Innovation” either – anything worthwhile financially was established long, long ago, the only thing left to innovate is new ways to defraud.

.

.

Read Full Post »

…and CHS

Apropos follow-on to the Krieger extract.

….

Edited:

Failed Spectacularly    ~ Charles Hugh Smith   April 23, 2013

The global Power Elites know reform is necessary, but the risks of reform are unacceptably high. Why are they unacceptably high? The Status Quo players might lose power and perquisites, and that is unacceptable. These include crony capitalists, cartels, quasi-monopolies, public unions, state fiefdoms, the banking sector and assorted other predators and parasites.  In other words, real reform is impossible because that would implode the Status Quo.

Since the only endgames to ballooning debts and declining household incomes are runaway inflation or renunciation of debt, the Status Quo has only one choice left to preserve its neofeudal arrangement: do more of what has failed spectacularly, i.e. inflate more asset bubbles as a way to mask the system’s phantom collateral for a few more months or perhaps years.

A key goal of propaganda is to mystify and obscure the Power Elites’ real quandary and agenda. For example: we’re just trying to help you out here, folks – by inflating another “wealth effect” bubble that will make you feel more prosperous. You’re gonna love the warm fuzzy feeling of a return to the good times…

.

.

Read Full Post »

Kreiger

.

Edited.

~ Michael Krieger of Liberty Blitzkrieg blog,

One of the many things holding society back at the moment is the complete lack of any real incentive to be a creative, productive and honest member of society – versus the tremendous incentive to be a corrupt, thieving, lackey for the establishment.

In a free market system, with a strict set of rules governing the game that is applied to everyone equally, market signals and incentives exist for companies to create a great product and to meet customer needs with great service.

In contrast, within a crony capitalist system, the primary incentive is to get as close as possible to political and corporate power, in order to financially benefit from their oligarchical ownership of the controlled economy.

It is only within a completely disconnected from reality, crony, fraudulent economy where you could have the situation we currently have…

.

.

Read Full Post »

Edited extract.

……………………………….

 STRESS IN A BROKEN SYSTEM

The high cost of living is a direct contributor to chronic stress. While there are numerous explanations for the rising cost of living; the one key driver that nobody dares discuss is the state-cartel (crony capitalism) structure of our economy.

Cartels (defense, energy, sickcare, education, etc.) avoid competition, and are enabled and enforced by the State (government).

This explains why sickcare and education costs have skyrocketed far above the rate of inflation. Apologists try to invoke Baumol to explain the lack of productivity in sickcare and education, but the primary cause is the cartel structure of these industries which ruthlessly eliminates any real competition.

Another factor few dare mention is debt-serfdom. By the time the brainwashed consumer has loaded up on the “absolutely necessary” debts–$100,000+ for college, $200,000 for a home mortgage, $20,000 for a vehicle loan, and whatever he/she can swing in credit card debt – the options to escape stress shrivel.

Bankruptcy and opting out is one option, but that requires sacrificing all the signifiers of identity and success – the very factors in a consumerist society that establish not just identity; but self-worth and personhood.

In other words: eliminate the real sources of stress and you bring down the entire economic, political and social order.

.

…………………

How badly do you want to hang on to the system as it now stands ???

Read Full Post »

Guest Essay

Guest: as in I cut-n-pasted it from the Herald.  Click on headline to link to original.

………………………………

Keys Legacy

Any advantage we have as a primary producer will be lost when we are at the mercy of foreign owners.

John Key believes he is creating a stronger economy.

As he finds himself sailing into increasingly choppy waters, it is perhaps not surprising that the Prime Minister’s thoughts might turn to the judgment that history might make of his term in office.

There have been several occasions recently when John Key has speculated on that matter and, among other predictions, he has confidently forecast that he will be remembered as having left the economy in a stronger condition than when he took over.

It is hard to conjure up much by way of statistical evidence to support that assertion. Indeed, the contrary seems more likely – that history will regard the Key Government as having been responsible for a further and possibly decisive relapse in a long-term comparative economic decline that might even threaten New Zealand’s viability as an independent, self-governing state.

Could such pessimism be justified? Surely, it may be argued, in a world that is likely to provide an ever-expanding market for premium food and other primary products, New Zealand’s expertise in this area will guarantee a rosy future?

That should certainly be the case; our advantages as a primary producer, coupled with our political stability, our freedom from corruption and our access to expanding markets should mean increasing prosperity.

But optimism on this account has to be tempered by our Government’s insistence on pursuing policies that we know from hard experience will hold us back rather than take us forward. Despite the advantage of conditions, like a stable banking sector and buoyant export markets, that are more favourable than most other countries have enjoyed, we have spent the last four years or more bumping along the bottom of recession.

Even more worryingly, as a recovery of sorts gets under way, it is driven by factors that make it inevitable that we will compound the very problems that have dogged us for decades.

Far from resolving our economic problems, we are about to intensify them. The long-awaited “recovery” is a function of increased domestic consumption and a building asset inflation. We are heading straight back into the same old familiar vicious circle, and each time we do a circuit, more escape routes are closed off.

The Auckland housing bubble and the consequent diversion of savings and bank-created credit into property rather than the productive sector means that our manufacturing and other productive industries are denied the investment they need to compete in international markets.

The inflationary stimulus produced by rising Auckland house prices will mean higher interest rates – rates that are already offering a premium to “hot money” speculators – and that in turn will mean that the dollar remains overvalued.

High interest rates and an overvalued dollar will further handicap our manufacturers and exporters and will knock the top off the returns we are able to make even on the products we can still sell overseas – ask the dairy farmers.

The overvalued dollar will also trigger an orgy of imported consumer goods, worsening our balance of trade, necessitating more borrowing and therefore a higher premium to overseas lenders to induce them to lend to us, and the constant temptation (to which the current Government willingly succumbs) to sell off more of our dwindling assets into foreign ownership so that we can balance the books.

The costs of increased borrowing and repatriated profits made by foreign-owned businesses have to be paid across the foreign exchanges, thereby worsening our indebtedness as a country and weakening our ability to control our own destiny.

The damage to our productive sector means that, far from developing new products, our productive base has become dangerously narrow – and as the assets of, and income streams from, even that narrow base pass into foreign hands, we will look in vain for the national wealth to reinvest in our future.

Indeed, John Key sees overseas ownership as not just a painful necessity but as the most promising path to future prosperity.

The short time horizon of a foreign exchange dealer does not apparently equip him to ask what will happen when the profits and assets of our shrinking productive base are in foreign hands, and foreign owners (think Rio Tinto) have extracted what profits they can from our mineral resources.

To paint this picture is not to speculate in pessimism; it is merely an extrapolation of trends that are already long-established. Those who resist such a scenario should ask themselves which part of it is not already familiar. If these trends are allowed to continue for much longer, our national future is grim. We would have lost any possibility of deciding our own future. The only question worth debating then would be whether we become an economic satellite or colony of China directly or whether we are first absorbed into a greater Australia on the way.

But none of this – either the inheritance left us by our forefathers or the mortgaging of our future – seems to matter to New Zealanders today.

History’s verdict on today’s economic policy is likely to be harsh. But that will not be our concern; history, after all, is written by winners.

Bryan Gould is a former UK Labour MP and former vice-chancellor of Waikato University.

.

.

Read Full Post »

.

There is cynical, political truism: “never let a serious crises go to waste” – a sharp operator should be able to exploit and manipulate any crisis to their own advantage…. even if only as cover so that attention is diverted from what “the man behind the curtain” is doing.

With that in mind, here is an edited extract from a post that Karl Denninger put up on his website

………………….

Large, public events come with an amount of security risk.    There is no means available by which one can obtain absolute or even close-to-absolute security.  That’s the lesson from yesterday(Boston Marathon bombings), life has risks, including the risk that some murderous jackass is going to target where you are and complete his or her offense.

This attack was obviously terrorism and I fully expect the person or people who did it will be caught.  We’ll find out who did this; I’m confident of that.

The most-important thing to take from this is that all the so-called “good intentions” of those who would ban this or that are ineffective because those who are hellbent on murder will always find a way.  We thus should focus onpeople, not things, and when it comes to where we direct scrutiny we should and indeed must focus on those people who are most likely to be involved.

There were several million people in Boston yesterday.  Out of them, it appears one placed two explosive devices and committed mass murder.

Do not succumb to the screaming by those who will argue that millions must give up more and more freedom and accede to more and more intrusive ineffective statist crap in a clearly-futile attempt to stop one person.

The people advocating for such things are well-aware that their “best efforts” will fail and they don’t care — in point of fact they secretly look forward to those failures and may even be quietly cheering them and the loss of life that comes with them as it simply advances their true agenda — the destruction of your freedom.

KD.

.

Read Full Post »

.

Complete change  of topic for this Post.

……

The truth about people.

  • You can have friends, and you can have relationships – they are not the same.
  • If you have sex with them, then it is a relationship, not a friendship.
  • Whatever you might like to imagine, they are not the same thing.
  • There is no such thing as casual sex … whatever you might like to imagine.
  • The truth of that will likely only become apparent in retrospect, much later.
  • Sex is DEEPLY personal.
  • Have your relationships one at a time.
  • You have to treat each other differently in a relationship, than a friendship.
  • Give some thought to what sort of relationship your parents have had, because you are likely to model your behaviour off them.  Are they a good example to copy?
  • What do you want from a relationship?  Is it about you and what you need – or about looking after, supporting and nourishing them?
  • Are you really ready, or mature enough, to be in a relationship?
  • In a relationship, your partner needs you best behaviour and support – what’s more they deserve it.  Otherwise, what on earth are you doing in a relationship with them… how are you good for them, and they for you?
  • If you breakup, then it is over.  There will no friendship afterwards.  Its over, done, finished!!!
  • No good will come of revisiting, and rehashing it all.
  • More than likely, you will ignore that advice, to your cost, until you learn the truth of it the hard way.
  • Once you breakup, and separate, you have to stop having a relationship.
  • Otherwise you are still having a relationship, just a different/dysfunctional one.
  • Neither of you get to have the other person as a confidante, or shoulder to cry on any more.
  • It’s over, stop talking to each other – move away, move on.
  • Think about what you have learnt and will do differently, but don’t carry the old relationship over into a new one.
  • Think about how they are good for you?  If you get involved with a narcissistic, self-centered person, then they will only be interested in what you can do for them, and have no compunction about damaging you.  And then  coming back and doing it again… and again.
  • And it will be your fault.  Don’t let yourself be used and abused by anyone else.  Walk away.
  • With your dignity.  They are not worth; fighting with, your angst, your unhappiness, losing your self respect… or a second though.
  • If you don’t know what your self-worth is, how can you stand up for yourself?
  • Slipping into a relationship, because it is the path of least resistance, is the fastest route to the path of worst resistance.
  • Be sure and certain (as much as possible) what you want (and don’t want).
  • If you aim at nothing, you are sure to hit it.
  • A relationship will be one of the hardest things you ever do.
  • But one of the most rewarding too – – – if you do it right.

………………….

  • Beauty comes from within.
  • Liars wear a pretty face, deliberately.
  • Damaged people create damage, and will damage you.
  • Anyone who is interested in you only when they want something… that isn’t even a good friendship, let alone a relationship.
  • Stay away from dating/singles websites.  They are filled with fantasists, fools, opportunists and sharks.
  • Get a Real Life.
  • Life’s too short for the bullshit… work on honing your bullshit detector

………………..

What words of wisdom would you add to all that?

.

.

Read Full Post »

Older Posts »