Debt Rattle January 29 2018

 

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  • #38560

    Fratelli Alinari Delphi c1920   • German Carmakers Take Another Hit With Diesel Testing on Monkeys, Humans (BBG) • The Risks Facing Global Stocks
    [See the full post at: Debt Rattle January 29 2018]

    #38562
    V. Arnold
    Participant

    Try as I might; I can not gain any clarity as to how the collapse will net effect, the world.
    It would seem to have the greatest affect on the wealthy.
    I came to Thailand in May of 2003, 5 years after the 1997 coolapse and most of the people were fine. However the realestate and construction sectors were still depressed.
    I’m not so certain the majority of the “wealthy” are nothing more than a chimera; Bezos would be a prime example of that.
    2008 didn’t set things aright; i have no reason to think the coming collapse will end any better.
    But, for a certainty; those who are debt free will fare the best.

    #38563
    Dr. D
    Participant

    Because according to MSNBC, Europe will dissolve into the oceans unless there’s somebody on top ordering everybody about. No. Again, Europe isn’t dissolving, it isn’t leaving, it isn’t going anywhere; it’s right there above Africa and to the right of Asia, just like it always was. Their dread fear is that someone will notice nobody needs their overpaid nonsense and no one can tell the difference when they’re in session or not except a couple extra Greeks may survive.

    Stockman: he’s clearly not a fan. But tell me David, how would you SOLVE the problem? Because I think if we followed your prescription, the banks would collapse, currencies would vaporize, and worldwide trade would stop, leading to millions dead and/or a world war. And hey, if you want to fix the system by removing all the fraud and injustice, I can get into that. But you have to realize that, like Vegas, the U.S. and/or the world is nothing BUT fraud, gambling, theft, gin-joints, prostitution, and murder, with one used-car dealer on the side. Removing the fraud would remove 80% of the economy. Heck, removing fraud in Medical care ALONE would reduce GDP by 15%, and the instant implosion of banks as their collateral vanishes in the adjustment. So point taken, but also not helpful.

    I listened to the Davos speech (donations accepted) and it confirmed what I suspected: the Trump plan is to be “open for business” in order to draw all capital worldwide into the United States. Thus all the lying happy-talk about how awesome the tax cut and economy are. Heaven knows if it will work, but he clearly is hitting it like a hammer. Like most of his plays, it’s painfully over-acted and still no one gets it. To even try this, he needs the banks and currency to function and put out the neon sign with the always-rigged stock market, signifying nothing. Like I said, they’re going to have to build a hull underneath the rotting ship while underway, and the currency ultimately will be inflated to nothing (or at least 50-70%) in the switch. That’s why the Dow can just rise: OBVIOUSLY it’s not on economic activity. And beyond rigging, it’s signaling inflation. Gold is finally following; crypto, which was least-rigged before now was out in front.

    Better or worse, that’s their plan. We can always collapse and Mad Max later if it fails. I understand, but burning down every crooked casino before there is any other business in town is not wise. It’s childish.

    #38564
    V. Arnold
    Participant

    Dr. D
    The last I checked Europe was to the left of Asia, no?
    😉

    #38565
    Chris M
    Participant

    V. Arnold,

    Geographically or politically? 😉

    #38566
    Chris M
    Participant

    Dr. D.,

    The reason Stockman doesn’t provide any solutions is because I don’t think he really knows how a solvent, functioning economy works. It appears Stockman is still in that group which clings to the notion that wealth creation starts with the government. If we just tinker with income tax policy, everything will be fine.

    Labor applied to raw materials creates physical wealth. That wealth needs to be priced in such a way so that producers have the income to keep producing, and consumers, or laborers, have the income to keep consuming the production. It’s not very difficult.

    The problem is, our lovely casinos, otherwise known as “price-discovering” commodity exchanges jerk around the prices of raw materials such that the production and consumption can’t be sustained. In fact, most of the time, the prices, especially for agricultural raw materials, are much too low.

    What has kept this whole thing going? Debt.

    I know. It’s a cruel joke.

    So, unless Stockman starts talking in these terms, he doesn’t demonstrate that he has any answers.

    #38567
    V. Arnold
    Participant

    Chris M
    V. Arnold,

    Geographically or politically? 😉

    LoL. Good one.

    Stockman? Like 99.9% of the economic prognosticators; no clue; lost in the ether.
    It’s very much like the Wizard of Oz; the man behind the curtain operates all the levers…until he can’t…

    #38569
    Dr. D
    Participant

    :$

    But you guys saved me.

    #38570
    zerosum
    Participant

    Since nobody here is paranoid ; evaluate this story
    Is their objective to sell, sell or something else

    https://www.bizjournals.com/denver/news/2018/01/29/fitness-app-stravas-online-map-mayreveal-sensitive.html

    Fitness-app Strava’s online map may reveal sensitive military positions

    The “Global Heatmap,” a online interactive map produced by fitness-app company Strava Inc., shows locations around the world where millions of runners, cyclists and other athletes have used mobile fitness trackers such as Fitbit and Jawbone.
    But, as the Washington Post reports today, the satellite-generated map may also reveal the locations of military personnel using GPS-enabled fitness devices in troubled areas across the globe.
    The map — which shows the movements of athletes as a web of bright lines — exposes “the locations and outlines of known U.S. military bases, as well as of other unknown and potentially sensitive sites — presumably because American soldiers and other personnel are using fitness trackers as they move around,” the Post says.

    While the location of most U.S. bases worldwide is public knowledge, the Post says the satellite map may have inadvertently pinpointed unpublicized bases and missile sites in Somalia, Yemen and Africa.

    https://labs.strava.com/heatmap/#4.06/-121.46781/48.76106/hot/all

    #38575
    Dr. D
    Participant

    Seems like the only people this is a secret to is us. If e.g. they’re in Somalia, the Somalians know. The Russians know. The Chinese will know. So who doesn’t keep any tabs on CIA/Pentagon black ops? You know, the big ones that aren’t really very secret. Congress, I suppose. Maybe they should download the Stravas app for House and Senate and they might find the 44,000 missing soldiers that somehow get army rations every day? https://www.stripes.com/report-44-000-unknown-military-personnel-stationed-around-the-world-1.501292

    Part of ongoing disclosure? The Democracy can’t vote when they have no idea what’s going on, since everything important is classified…on purpose. They don’t WANT you to know where your $21Trillion went while Detroit burns, or you might get mad. Space plane? No we have no space plane. Oh wait, I forgot, it’s Tuesday, we do. Until Friday, when we don’t anymore, and the news release is denied. Just happened this week with the SR-72, inheritor of the old SR-71 Blackbird, which was itself denied for decades after the U-2. The 71 was admitted to exist when it was obsolete and replaced in the 1990’s. …But we haven’t had ANY planes since then. Nope! Suggesting we have military planes we deny is just silly. Oh wait, I forgot! We already made one: https://www.dailymail.co.uk/sciencetech/article-5251961/SR-72-hypersonic-bomber-made.html Hey, where did you think the F-35 money was disappearing to?

    We can admit it now because the SR-72 is retiring of old age and we have an “SR-73” …perhaps the Aurora SR-91. But no, that’s silly. They deny any such plane exists. But it was parked on Google maps the other day. But we don’t have one.

    And no matter how many times the military keeps ordinary, expected, pedestrian, garden variety military secrets about weapons and capabilities, it’s always outrageous, how-dare-you, crazy, tinfoil hat stuff to even suggest they wouldn’t advertise every military object and plan in the NY Post. …Until next time, when of course all those rumors are true as well.

    Anyway, disclosure. But for whom? Any worthwhile secret service worldwide already knows this stuff. How to get the ordinary Joe’s attention long enough to read? How about his Fitbit? That’ll get clicks. <sigh>

    #38578
    V. Arnold
    Participant

    Dr. D
    Yours above re: Stockman gave a pretty good overview of what I wasn’t clear about.
    Being debt free is still important; but geography may be key.
    I came here as a CAD design and production engineer for an American toy company; fortunately it was in a small town not too far from the Burmese border.
    I quit them after a year; couldn’t bear their treatment of the Thai workers. Everything I did to improve working conditions was foiled at every turn.
    From Bangkok to everywhere I traveled were many, large, unfinished buildings.
    But, the small town I lived and worked in seemed fine. If I had to be poor, I’d rather it was in the tropics.
    Non-first world countries are populated by people who still know how live minimalist lives.
    In any event I appreciated your comment.

    #38608
    olo530
    Participant

    Labor applied to raw materials creates physical wealth. That wealth needs to be priced in such a way so that producers have the income to keep producing, and consumers, or laborers, have the income to keep consuming the production. It’s not very difficult.

    Actually, laborers don’t have to keep consuming the production. They just need to be a little better off compared to not working. Elon Musk can grow apples on Mars and the rest of Earth’s population will be producing biofuel for his rockets. It’s happening right now. Workers who assemble iPhones will never be able to afford one.

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