Debt Rattle April 4 2019
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Pablo Picasso Nude on a beach 1929 • Lack Of Redundancies On Boeing 737 MAX Baffles Its Developers (ST) • Trolling the Mueller Report (WSJ Op-e
[See the full post at: Debt Rattle April 4 2019]“What would be the crime you’d be investigating?”
I believe we’d be investigating how a sitting president authorized the extensive wiretapping of the opposing candidate without any source crime or evidence. I mean, unless that’s okay now, in which case Trump can go wiretap all Democrats two layers deep and see if any one of the thousand people swept up can be prosecuted so the GOP can win elections in a thousand year Reich. That’s democracy, right? Wiretapping and using the machine of government to sink your opponents?
“Whatever powers these people have should be taken away from them.”
Welcome to being a Conservative, where we don’t trust government, rein them in, and want them smaller, doing less, transferring power as far down to local, and over to non-government organizations as possible. Because we’ve said for 200 years this would happen, and named exactly the problems that would arise if it were allowed: war, theft, tyranny, oppression, death. “Government” has joined hands, Democrat and Republican, Liberal and Conservative, Corporate and State, to expand government, start wars, and expand their power by trampling the people. That’s what governments, and indeed all organizations do: expand and grow to their outer limits, and in a Government v People situation, they can only expand if the people are destroyed. But if you say they should do less, help less, and cost less, let people take care of themselves however they wish, you’re a villain, although between the two choices, government is generally far worse. It takes a government to start WWIII arms space race and attack multiple countries. It takes a government to imprison and torture Manning and Assange. As Rubino says.
“Either way, trillion-dollar deficits and extremely easy money are guaranteed, which means the US ….will fall off a … cliff… After that, the only non-financial issue that will matter is war – and both parties seem about equally bloodthirsty.”
So let them be smaller and give them less power, and they can make less war, death, and collapse, as is their nature.
“Government is not reason, it is not eloquence,—it is force! Like fire, it is a dangerous servant, and a fearful master; never for a moment should it be left to irresponsible action.” Geo. Washington
“Trump Fans Are ‘Economically Illiterate’ (FN)”
Wow, they’ve read the “Economist”, the IMF, Ben Bernanke, and Paul Krugman, worshipped Llyod Blankfein and Jamie Dimon, collapsed the entire planet in 1999 and 2008, deficits are running $2 Trillion with no end in sight, Europe has irrationally negative rates, is nosediving with China now, and the PEOPLE are the economic illiterates? The people who told you not to do this in 1986, in 1994, in 2008, and every day right now, the ones who were right about how it was irrational, and that that sucking sound among others, would lead to [their] collapse and ruin? …But I’m sure it’s the poor and powerless who are really to blame, not the wealthy and influential who steered the ship in rejection of our constant shouting. Yup, we told you for 30 years and we’re the dummies.
“No Deal Brexit Measures Needed To Keep Planes In Air And Troops On Ground (G.)”
Oh noes! We won’t be able to bully and colonize Bosnia for oil and drugs anymore! Where will it end?
“Top Labour Figures Demand Corbyn Secure Referendum (Ind.)”
I was shocked yesterday. You mean May has never once yet discussed Brexit with Corbyn? 1st time in three years? Whiskey Tango Foxtrot. Just shows how not serious they are, every day of the week, every week of the year.
“IMF Warns That Tech Giants Stifle Innovation And Threaten Stability (G.)”
Look out IMF, talk like this is the road to competition and capitalism, their life-long arch-enemy.
“‘Excluding Everything That Makes China What It Is’ (Crooke)”
As the U.S. cuts off and embargoes every nation on earth one by one, soon they will have ring-fenced themselves (literally), and be a pariah state like North Korea. The world cheers and goes on without them and their troublemaking. Takes time, and the U.S. people may not care if that what it takes to stop empire, but…
A million acres of Midwest farmland flooded with heavy rain on the way. Michael Snyder -Zero Hedge
http://www.johndayblog.com/2019/04/history-of-oligarchy.html
I am linking to parts 1-3 of Economist, Michael Hudson’s recent interview, describing the competition between economies with periodic forgiveness of slavery and debt, “Jubilee”, and those with lending-at-interest by an oligarchic class, with the remainder of the society choked to debt peonage without property, or outright slavery. The Oligarchy at interest format was an aggressive and expansionist format, requiring resource extraction through conquest. It typified the Roman Empire, which collapsed for multiple reasons when it could not expand. It typifies the current financial regime.
In the debt-at-interest scheme of oligarchy, an oligarchic class collects rent and plunder from all others, and clear-cuts forests rather than manage them for centuries. It is a short-term extraction scheme, which depletes the underlying economy or economies.
Such extractive oligarchy is vulnerable to the natural collapse of the economy, to the French Revolution, and to the rise of a populist tyrant, more powerful than the other oligarchs, who aligns with a restive populace against the other oligarchs, to restore economic viability.
Hudson gives clear historical examples.
He also gives insights into how the concept of “Jubilee” was a reform presented as a conservative act of restoration in antiquity.
The concept of history was different then.
We are currently, globally, at a crossing of many roads. The USSR collapsed, and it is rising steadily with populism supported by the Putin government, and the oligarchy ceding a certain amount of power, in order to foster the stability and prosperity which has come with some rule of law.
China is perhaps peaking in a populist economic boom, with rapid growth of wealth in recent decades. China is trying to rein-in the corrupt practices of local mafia-type organizations, to prevent collapse.
The US and Western Europe have reached some limits to external colonial extraction, and are now consuming themselves through internal colonization (Greece) and self-digestion (student loans and bubble markets). Each exploited country and region has a particular story, and it is mostly variations on colonialism and debt/currency extraction of value, with as much fear and murder as required…
“Mixed Economies” have some hard limits to the power of oligarchs, and this typified the US economy in the late 19th and early 20th centuries (with exception for railroad oligarchs). Classical Economics, culminating with Marx, viewed “economic freedom” opposite to neoliberal economics.
Reading the history makes the present so much clearer, I think.The Delphic Oracle Was Their Davos, Part 1:
https://www.nakedcapitalism.com/2019/04/the-delphic-oracle-was-their-davos-a-four-part-interview-with-michael-hudson-about-his-forthcoming-book-the-collapse-of-antiquity-part-1.htmlThe Delphic Oracle Was Their Davos, Part 2:
https://www.nakedcapitalism.com/2019/04/the-delphic-oracle-was-their-davos-a-four-part-interview-with-michael-hudson-mixed-economies-today-compared-to-those-of-antiquity-part-2.htmlThe Delphic Oracle Was Their Davos, Part 3:
https://www.nakedcapitalism.com/2019/04/the-delphic-oracle-was-their-davos-a-four-part-interview-with-michael-hudson-the-inherent-financial-instability-in-western-civilizations-dna-part-3.htmlThe Post WW-2 oligarchy tightened up the connections between the financial and military arms by use of the “Deep State”, while maintaining the semblance of rule-of-Law, which exists as a baseline, with exceptions for those “more equal” (Clintons, Bush family, Rockefeller…) Thanks Eleni.
The CIA Takeover of America in the 1960s Is the Story of Our Times. The Killing of the Kennedys and Today’s New Cold WarA million acres is probably true (it’s so hard to tell these days) but you have to know there’s a lot going on with that.
One, there’s something like 900 million acres in the U.S. They are all uniquely different, and the rich lowlands of the rivers certainly have premium, but 1 million isn’t a lot all considered.
Two, to some extent they flood every year. This isn’t in the news because usually it’s some area with some normal rise. But keep it in mind we’d have to compare a normal year (300k acres?) to this year. I have no stats on that.
Three, it’s still quite early in many places, and although the planting occurs starting south and moving north, it’s even early in the south, like Arkansas. There is no continual rains, so it’s possible most can still dry off, leading to:
Four, the planting in general has two lines: corn, which must be early, and soybeans, which can be late. So when these things happen, they shift structure, leading to price shifts later, but overall production holding fast. Wheat can be considered more specialty as is it planted either winter or spring but must be decided beforehand. It would be likely, but not definitive, that a good percentage of winter wheat acres hard flooded would in fact be lost. Some, although flooded, also would not. Spring wheat is planted a lot by special areas and growers, since it’s generally soft pastry wheat that is not as widespread as hard, bread winter wheat.
Five, despite news, floods actually IMPROVE the fields, as that’s why there’s fabulous new silt in the river bottoms and farms there instead of the rocky uplands. They only discuss the soil that’s washed AWAY, not INTO. Both are true in their measure.
Six, going the other direction, although a lot of the fields could dry out, there will be channels cut, topsoil lost, and they may need to get bulldozers and other heavy equipment out there to flatten the fields, remove trees and debris, and so on. Even were the soil good, you may not get the advantage of it until next year when you can smooth all your acres again. Leading to:
Seven, there was not time in most areas to remove barns, silos, grain, anything, but especially heavy equipment. So the arm loaders and tractors you WOULD use to plant have all been filled with river water. Disks and plows are tough, tractors are tough and tall, but this is strictly unknown. In the main, those tractors are too large and too few and cannot be built or shipped in from other areas in any normal fashion.
Eight, this particularly goes for the combines, which are million-dollar pieces of equipment, parked most of the year. They have time to repair them, but the cost and supply chain is challenging. That goes for the barns, the repair shops, and especially the grain silos and other things, which will be most on the river bottoms.
You can see by this short list why this is not mentioned in the McNews we are now force-fed: it’s very complex and we don’t have the answers to these questions yet. It’s a big deal, but HOW big a deal we may not know for some time. Abandoned acres in PA or GA may plant hard to make up the loss, being sure the prices will be up this year. That will be GOOD for them, and keeping them from going under, although it’s at the expense of Nebraska and Missouri. Nothing can be done about that, as it is the way of the world, but at 900 Million acres farm alone, keep in mind America is a VERY big place, and has a LOT of zones and nooks.
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