Debt Rattle April 21 2015
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DPC Betsy Ross house, Philadelphia. Birthplace of Old Glory 1900 • Robert Merton: QE Makes Everything Worse (PiOnline) • ECB Is Studying Curbs on Gree
[See the full post at: Debt Rattle April 21 2015]What’s missing is common sense things ordinary (?) people can do to cushion the final blow.
I know what we’re doing; heavy on cash, with “other stuff” in proportion and absolutely no “investments” in any stocks, bonds, mutual funds, or anything else outside of actual possession of assets.
Oh, and zero debt; that being a critical component of fiscal security.
Am I missing anything?“while QE has increased absolute wealth.”
Stop right there. Money is not wealth. QE uses money to squander and liquidate, i.e. destroy wealth. Wealth is the collection of actual things: water, food, tools, knowledge. Money is a token that counts and measures it, in theory. The yardstick is not the cloth. The yardstick–the arbitrary thing– MEASURES the cloth–the real work. Other than that they are in no way related at all. You don’t find out how much cloth you have by counting rulers, although one might think so by reading the news. If we can’t get the little things right, how are we going to solve the big things?
By the way, destroying actual wealth by printing money is just in ADDITION to causing the enormous, unprecedented, revolution-risking wealth disparity Merton criticizes.
In other news, anyone notice that the EU is forcing Greece out by any means possible? They really need Greece to be at the bottom during the Spanish or Italian elections to scare those voters but good, and certainly before Greece bounces back into prosperity inside the Russian camp. Then the Tier II (?) losses in Germany create fodder for Germany to leave and flip East as well, kicking out the U.S. and their NSA corporate/political spying that binds the country and continent. Otherwise, what is Germany’s motive? Just thinking.
Isn’t putting all the money into the Greek center the first part of nationalizing the banks, one of Syriza’s direct party promises? And when they exit on a Greek referendum and use the Drachmas they printed up, wouldn’t it be far easier to dispense them from this center point, keeping those funds away from ECB confiscation? So the municipalities may be well served by getting on board with Verofaukis instead of RBS and Parabas this time? Maybe.
Of course QE makes everything worse. It is essentially stimulating the cancer in the economy that is deflation. There is no path for QE to improve the economy, it only further drains the real economy, so it is deflationary in a real sense.
Never let a (debt) crisis go to waste.
Despite being outside the focus of this blog, I’m betting Ilargi will be including articles on Jade Helm 15 before the year ends.
Of course, ALL bets are off if nuclear war is in the cards.
Diogenes – I walked into a Target once. Nice store, but most items did not have prices and there was no one around to help me find exactly what I was looking for, so I walked out. I was one of a handful of people in the store; very empty. I wanted to buy what was advertised, but couldn’t find it. This particular store closed simply from lack of customers buying anything.
Raleigh, as far as big box stores go, this isn’t about a declining customer base. This is ultimately about disarmament and genocide, both long in the planning. It’s called the New World Order. Agenda 21. You’ll see soon enough.
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