Debt Rattle August 19 2015
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Lewis Wickes Hine Newsies in St. Louis 1910 • Asian Shares Plunge To Two-Year Lows As China Stocks Continue To Fall (Guardian) • Do Markets Determine
[See the full post at: Debt Rattle August 19 2015]Whatever the mechanisms of China’s PPT are it is a great example of socialism in action. Just not one that any old fashioned socialist would could conceive of. Here in the US the home of the PPT were socialism is an epithet you are never going to hear about how the vast army of Conservatives decrying the PPT as socialist. Everyone knows how their bread is buttered.
I am assuming instead that with China as an example the PPT mechanisms will grow larger and larger. After all how can we let the Chinese beat us at this capitalism thing if we let all that wealth evaporate in a stock bear market?
It should be noted that the Fed encouraged and really guaranteed the 08 09 stock market plunge when they let their balance sheet shrink and thus starve the Primary Dealers. It’s hard to believe they did this out of ignorance but equally hard to believe that they did it for nefarious reasons, ie to gain power for themselves and the banks but take your pick, it happened.
Don’t count on a serious sudden plunge in the US stock market any time soon. Buying in the stock derivatives, futures, options and ETF’s is certain to halt sudden plunges.
There is a hardware store in the picture above. Whereas when that picture was taken, probably most of the products were made in the USA. Today, assuming hardware stores (even Walmarts) sell mostly foreign-made products, I don’t see how the stores will be able to stay in business when this bubble implodes. I can foresee looting of remaining items when people no longer have any money to buy anything.
“Europe is in desperate need of leadership on the issue, but there ain’t none.”
No, nor will there be. The mass movements of humans from impoverished and dangerous regions into flourishing and safe areas is a purely biological phenomenon, is not, and will not ever be – dealt with as a “moral” problem, with moral solutions.
Don’t hold your breath waiting for a messiah to appear, waive his/her wand and say “ok, now you can all get along, equally and cheerfully!” The False Messiahs claiming they can are already here, and gaining power.
People will do anything to give their children a chance to survive. Anything. And people will do anything to keep the resources they have for their children. “Civilizations”, and “cultures” do not and can not operate in this arena when any population hits the “utterly desperate” mark on their survival expectations.
“The dead migrants were discovered last weekend, packed into a fishing boat also carrying 312 others trying to cross the Mediterranean…”
A very, very ugly thought for you. If you were a “trafficker” – it being your family business – why would you bother attempting to actually deliver the humans in the hold to the destination they have already paid for? It would be far less risky, and far more profitable – to simply close the hatches, suffocate them, and dump them in the open ocean. Take the boat back, to a different port – and refill.
Give me a reason to think this is not already going on.
@Greenpa,
“Give me a reason to think this is not already going on.”
Word of mouth, perhaps?“And these refugees, asylum seekers and illegal immigrants are not going to stop coming to Europe. For they are being driven across the Med by wars in Libya, Syria, Iraq, Afghanistan and Yemen, by the horrific conditions in Eritrea, Ethiopia, Somalia and Sudan, by the Islamist terrorism of the Mideast and the abject poverty of the sub-Sahara.”
Pat Buchanan’s glaring neo-con myopia (or dishonesty/propaganda) is his failure to recognize (or admit) that those “wars in Libya, Syria, Iraq, Afghanistan and Yemen” are ours. We caused them, we sustain them, and we are morally, completely responsible for them. We export death and destruction to those places, and they, in turn, export refugees and survivors back to those places where the bombs aren’t falling. You would think that someone who trumpets laissez faire would accept and celebrate this “free market price discovery.”
Buchanan is a tool. Thanks, Raul, for the Wednesday dark humor.
John- believe me, I thought of that. Unfortunately, I can also think of many ways the traffickers could counter it- and I know they have experience in doing just that. Truly, I could list 10 – but I don’t want to give anyone ideas. Do we know it’s happening? No. Not happening? No. Likely to happen? Yes. Likely to go without being noticed by “police” for a long time? Yes.
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