Debt Rattle August 27 2018
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Hasui Kawase Moon at Megome (woodblock print) 1930 • BIS Warns Of “Perfect Storm” For Global Economy (ZH) • BIS’s Carstens Warns Of Economic Ri
[See the full post at: Debt Rattle August 27 2018]Hasui Kawase Moon at Megome (woodblock print) 1930
Absolutely gorgeous block print. Had to click to see more; wasn’t disappointed in the least.
Thanks Ilargi; I wasn’t at all familiar with Hasui Kawase; a feast for the eyes…The light, the moonlight on the trees branches, both beautiful and mystifying; how the hell did Hasui do that????
A true master…Taxing the rich isn’t going to work. Not only has it been tried, there’s a whole series of problems.
Did you see in NJ where the departure of one billionaire left a gaping hole in the state budget? The legislature had to meet to address the problem. Does that give you an idea of how you can’t tax them? How much they’re already at the limit? Other wealthy, like Tiger Woods, have moved residence to Florida to save millions in taxes. If Florida is not enough, they can move to the Caymans, Monaco, or wherever they like. You think they’re going to sit around and lose a fortune every day? Jersey and Illinois sure think so, but their ever-collapsing budgets say otherwise. Same is true in Philly, Detroit, and Baltimore, once all great cities who drive out everyone who can move with taxes and oppression. Then as it shrinks, more leave and it shrinks more until, like Venezuela, everybody with wealth or ambition is gone. Welcome to Socialism! We eat zoo animals here!
Second, “The wealthy are not like you and me” (They have more money.) You can tax idiots like us donkeys, slaving on a paycheck with too little to hire an accountant, but that’s not true even one slice above. Read Kiyosaki: the wealthy own nothing and control everything. You “invest” in a company that owns condos, then “visit” them. The company owns the car, fills the tank, and writes off travel as a business expense. It buys your groceries, it donates to charity. On paper, you own as little as you want to, basically paying your taxes voluntarily. Now tell me how you think you’re going to stop this? Taxes are so onerous that you could buy 10 creative accountants and offshore/shell everything out of jurisdiction. Many have.
Which leads to the top 10 corporations who pay no taxes at all. GE, GM, United, nothing, bupkas. Apple, despite trillions, simply refuses to move and invest that money. How do you plan on making them? With your stern face? So the wealthy own their assets in corporations that legally pay no taxes. At all. Or rather their taxes are an offset of voluntary convenience. And they’re also perfectly happy at this time to invest in nothing, ever again, make no production, and hire no people to avoid taxes, which they have, for 10-20 years. Ask Denninger, a high level ISP CEO and professional programmer. He refuses to work, and therefore refuses to hire. So what now? Centralize the whole economy under the Politboro? Yeah, that worked out well.
How about a solution that works? You get what you incentivize. You need to incentivize work and innovation and production. All that takes is, just like the last gilded age, to break monopolies, arrest bribery and fraud, and allow completion. That will take out these crippled dinosaurs and allow the small working to eat their lunch like piranhas. But they won’t enforce the laws we have, for 100 years, , which will pull the wealth back to the middle class, and then the lower.
Why? Is it because they own, bribe, and are immune from the law? Well, yes, but that only exists because the people have no morality in themselves and don’t want the law enforced. They don’t demand it. They don’t protest. They admire and love a thousand villains like Bezos, Jobs, Romney, McCain. They want to their kids to grow up and be just like Wasserman and Weinstein and Stormy Daniels and Brian Williams. Real American heroes.
So what am I supposed to say? If the people don’t want to enforce the hundred thousand 100-year laws we have, up to and including the Constitution, what do you think this corruption will bring? The corrupt will get rich, and the honest — even including the billionaires — will be eaten away and destroyed by the unscrupulous. But I can’t help you with that unless you WANT justice, honesty, and force of law. But they don’t.
Bonus question: if the entire system is corrupt, will concentrating it further in a central committee, a) help corruption, or b) make existing corruption harder? Um, yeah, I’ll take dispersing power as far down to the people as possible, please. I guarantee if there was only one lever of control, the most corrupt man would grasp it. That’s why the middle class is the defense against these things.
In opposition to the article, the American people CAN fix this. Easily. They don’t want to. They haven’t had enough yet, they still want to be corrupt.
Refugees going to Europe is a gigantic mistake. It is bad for them, bad for european countries. They would be much better off staying in their country of origin or nearby.
Meanwhile in other greek migrant news:
Nikos Moustakas was pushed off a cliff to his death in Athens. He was out for a walk with his girlfriend when they were attacked by a trio of Pakistani migrants. Locals of the Koukaki and Petralona neighbourhoods told the media that they have felt unsafe in recent years because of the criminal activity and gangs that frequent the area at night.A woman who had been kidnapped for days was found locked in the appartment of 5 migrants: 2 Morrocans, 2 Iranians and one Algerian who have been arrested.
http://www.enikos.gr/society/583720/photo-ntokoumento-kratousan-kleidomeni-34xroni-se-diamerisma-sta-Thousands of inhabitants from the island of Samos march to protest building a new refugee camp on the island
http://www.tanea.gr/news/greece/article/5586436/samos-diamartyria-gia-thn-kataskeyh-neoy-kyt-metanastwn-kai-prosfygwn/Huge fight between about 60 migrants from Algeria and Pakistan on Monastiraki with sticks and knives. Greeks and tourists witnessing the scene were caught up in the melee and beaten as well
http://www.iefimerida.gr/news/409121/agria-epeisodia-metaxy-allodapon-sto-monastiraki-htypisan-kai-toyristesInhabitants from the island of Lesbos protest Tsipras and the presence of 9000 migrants
…. the American people CAN fix this. Easily. They don’t want to. They haven’t had enough yet, they still want to be corrupt.
Not enough pain YET…tick, toc, tick, toc
@Dr. D…
I believe the problem is that long-term lack of taxation has allowed some entities (persons?) to become big enough to be this problem. Unfortunately, now any fix is like closing the barn door after… wait… where the hell is the barn?!?!?
…and as a bonus track:
Monday around 100 refugees moved to the road and blocked the highway between Athens and Lamia, creating massive chaos and traffic jams as traffic was blocked for several hours. Some of the migrants were holding sticks, attacked cars and generally acted uncontrollably.Europe is already overwhelmed and cannot get a grip on the refugees and immigrants it already has. The flow has to stop as things will only get worse.
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