Debt Rattle July 19 2015
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Harris&Ewing “Congressional Union for Woman Suffrage” 1916 • China’s $16.1 Trillion Corporate Debt Threat (Reuters) • Chinese Investors Flock To Sell
[See the full post at: Debt Rattle July 19 2015]…[..] “when I ask him directly what he thinks of the deal, he seems more discouraged than angry. “I don’t know, it’s always the same story. Every nation has lost its sovereignty.”
And every human as well. Those who suck the tit of debt are doomed. The attack on us is relentless; listen to Nicole’s pod-cast a few posts back and find out how to save yourself.
Finding a cheap country to live in wouldn’t hurt either.
I learned some damn hard lessons a decade and a half ago; they still burn bright as I type; no credit cards, no debt, cash only, and break the consumer tango.
What’s happening to Greece, Portugal, Argentina, and Italy is also directed straight at you and me, the individual. It’s designed/intended to grind you down to wage slavery; neo-serfdom; it’s here now and in your face.
Sorry, rant over; I just get so pissed I lose it…It can’t be stressed enough that in China the Parties, what we call governments, desperate response to the falling stock market represents a total victory for neo liberalism. I’m not saying it will work but that they have adopted the primacy of ‘markets’, inflated as they may be, as an existential necessity for maintaining order and power has erased all older ideals of society and the common good. It is a foundational belief of neo liberalism that there are no such things as society or a common good.
The elites and mid levels of the Party, like most all parties in the world, are now swelled with those who have no qualms about their own enrichment via the state supporting and managing the markets nor often can they even conceive what can be wrong with that.
There is little possibility that traditional politics can displace this new model. The main point of friction within governments will be with those wedded to the older idea of nationhood and patriotism and who risk or seek war so as to defend the honor of The Nation or to extend it. In the US 15 of the 16 GOP candidates have absolutely no clue that the American project is now the entrenchment of markets as the only goal worth achieving, and thus enriching those who are enriched by markets, and has little or nothing to do with traditional patriotism. The 16th, Bush understands as this has been his families project for 90 years. That is the melding of ‘business’ with the state. While Obama understands this, if not consciously but intuitively, he has allowed the older fashioned Defenders of The Nation to engage in military or para military provocation and action all over the globe. War is the biggest and perhaps the only threat to the new neo liberal order. What used to be called the New World Order.
@ V. Arnold
I think you will find that the business plan of modern financial thinking is the creation of revenue streams that provide income to financial investment. No longer is there an economic equilibrium between production and consumption, the producers being the consumers as envisioned in classical economic understanding; only revenue streams providing ROI for financially controlled economic necessities, food, water, energy, clothing, transportation, housing, the complete slate of whatever meets human needs, wants or desires. As long as a monopolistic hold over any economic production or service is allowed uncontrolled dominion over that economic good, no amount of political power will avail in changing the condition. For a while being distant from the predation will allow some measure of relief but at the end of the day, you will find yourself at the wall and can go no further. About the only solace there is, is knowing this powerful juggernaut cannot self correct, it cannot afford correction and uncorrected it will fail. At that point it will become vitally necessary to know and plan for a way to replace that edifice with one that can provide for human needs. If that is not dome this economic cancer will return.
Quixotic airport: “The airport drove the Castilla-La Mancha savings bank, a 68% shareholder in the scheme, to bankruptcy, but not before it had handed out multimillion-euro payoffs to its directors.”
The same everywhere. And- quite legal, with no directors going to jail for this kind of direct theft from stockholders. Gad. We could hardly ask for more lucid proof of who is in charge of our legal systems.
And what will we do about it? Run Donald Gump for president, of course!
Silliness aside; exactly who has a plan to change this situation? One with any chance of actually working?
It would be well for all to remember that China, now in the spotlight, has a very long history of successfully dealing with exactly this situation. “When the rich become too rich” – an ancient phrase – they burn the entire country down to the ground, and start over. Sure would be nice if we could use our brilliant, advanced, scientific minds to find a less hideous and wasteful answer.
Japanese – and Wall Street – and German – style corporate accountability:
https://www3.nhk.or.jp/nhkworld/english/news/20150719_08.htmlBooks cooked by Toshiba for years; so; regulators are thinking about – THINKING about it. With maybe a “fine”. So; stockholders will pay. Any executives to be fined? What a silly idea.
@ Formerly T-Bear
Yep, agree completely. At my advanced age I’m gambling I’ll out live the catch up of the advancing great nothing (The Never Ending Story); but short of that; maybe a way to circumvent the inevitable will be found. I’m not a nihilist; small pockets will survive outside of the mainstream, IMO.
But, essentially, I think you are correct…rapier – “In the US 15 of the 16 GOP candidates have absolutely no clue that the American project is now the entrenchment of markets as the only goal worth achieving, and thus enriching those who are enriched by markets, and has little or nothing to do with traditional patriotism. ”
Oh, I think 90% of them do have a clue. If you have a clue, then surely they do. Who doesn’t have a clue is the American public. These candidates are not going to try to upset the apple cart. They’re wanna-be kings and queens who have been around the game and ivy league schools long enough to know what’s going on and handsomely profited from it. Come on, they’re politicians! All I have to do is look at my local politics, see who’s running, what their profession is, see who their husband/wife is or who their friends are and what they do, and I see the person pretty clearly. I see the hands they intend to grease and how they will line their own pockets. Look at where they’ve come from, and you will see where they’re going.
“While Obama understands this, if not consciously but intuitively, he has allowed the older fashioned Defenders of The Nation to engage in military or para military provocation and action all over the globe.” You don’t think he consciously understands exactly what’s going on? I’m sure it was spelled out to him long before he took office, but if not, shortly thereafter. Of course he’s “allowed” it. War is big money. Just ask the Bush’s, Cheney, etc.
https://theinternationalcoalition.blogspot.ca/2011/06/how-war-made-bush-family-rich.html
Honor of nation, nationhood, patriotism, apple pie – those are things that make politicians sound good to the American public, but they sure as heck don’t believe that crap. Watch what they do, not what they say. They’re too busy drafting and signing into law trade agreements that sell their nations down the toilet. “We’ve got to fight these bad guys over here because they’re a threat to our nation” goes over well to the American suckers, but what they really mean is, “We’ve got to fight these guys over here because we want to take their oil to enrich ourselves and our friends in the oil/fracking business, as well as help our friends in the arms industry.”
If big money wants war, then we’ll have it, but I doubt they do. If big money does not want war, then no matter how patriotic or nationalistic some of the old guard might be, it just will not happen. They’re out of the equation. It has to be good for business before it happens. With the political scum we now have, there is no longer “country”.
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