Debt Rattle April 6 2015


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    G.G. Bain ‘Casino Theater playing musical ‘The Little Whopper’, NY 1920 • 7 Unfounded Fears About An Exit From The Euro (Beppe Grillo) • Teachers Warn
    [See the full post at: Debt Rattle April 6 2015]

    Dr. Diablo

    Mouth-breathing idiot Larry Summers thinks higher population causes lower GDP? No wonder he lost $1.8B billion when he ran the Harvard endowment. One of the few things we can be SURE of in economics is that increased population will cause those people to have economic activity, and therefore raise GDP. You can find more on this with Harry “Demographics is Destiny” Dent, showing exactly how this works within countries over time.

    No amount of ridicule is adequate when it comes to Mr. Summers. Or his dreadful toadie, the odious Krugman.


    Good piece yesterday on New Zealand, although I feel very sorry for the suicidal farmers and their families.

    “It must be an Anglo-Saxon disease. You can see it in London, in Sydney, Melbourne, New York, Toronto. The new normal way to make your failing economy look ‘healthy’ is to sell assets to any rich foreigner or investment fund who comes knocking, no matter what the consequences, short term or long term.”

    Yep, sell out your country. “The country’s prime minister since 2008, John Key, used to work at Merrill Lynch and the New York Fed, and that sort of background guarantees valiant efforts to sell anything in the country that’s not bolted down, and take an axe to what is. It also guarantees zero initiative to become self-sufficient.”

    Merrill Lynch and the New York Fed – that says it all! When will we learn?


    “In biology, moulting or molting (/ˈmoʊltɪŋ/; see spelling differences), also known as sloughing, shedding, or for some species, ecdysis, is the manner in which an animal routinely casts off a part of its body (often, but not always, an outer layer or covering), either at specific times of the year, or at specific points in its life cycle.

    Moulting can involve shedding the epidermis (skin), pelage (hair, feathers, fur, wool), or other external layer. In some species, other body parts may be shed, for example, wings in some insects or the entire exoskeleton in arthropods.”

    In economics, ….
    In social structures ….

    Enjoy it … you will not live to see another moulting.


    Beppo’s piece is refreshingly realistic. I think he may be a little too pessimistic on manufacturing. Italian cars have a deservedly bad reputation, but Italian furniture and office machinery has always been excellent. Nothing beats Olivetti. Within the Fourth Reich, Germany has made sure no other country can compete with German manufacturing. Outside of those pressures, Italy COULD reassert its superior design and quality. (“Could” doesn’t mean “will”, of course.)

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