Debt Rattle July 2 2015
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William Henry Jackson New Orleans, “Canal Street from the Clay monument” 1890 • Varoufakis Says He Won’t Be Finance Minister After a ‘Yes’ Vote • Why
[See the full post at: Debt Rattle July 2 2015]As a person trained in Ethology – a branch of science for which 2 seminal workers were awarded a (real) Nobel, but which is now nearly forgotten – I tend to look at what creatures DO – see it and record it without pre-judgements, and with every attempt to see it without filtering it through my own expectations. Then look at the creature’s records, and look for patterns.
If you do that with Obama – you would never expect him to intervene between the Euro Owners and their prey. While his mating calls are all apparently to attract The Common Man (aka Krill ); his actions are uniformly on the side of the Owners. Witness his serious pushes to get the “fast track” for TPP powers authorized.
“Why” he does what he does is not a profitable question to ask. Ask rather, what are his consistent choices?
As a Common Man myself, I find his mating calls attractive. Some of his behaviors do not fit into standard expectations; which makes him interesting to watch. But- you can see he has several times cuddled up with The Owners, and their vast filter-feeding jaws.
Two basic hypotheses I’d suggest to explain the dissonance between mating calls and observable behavior- either he is actually an Owner who operates as a Krill mimic; or; the Owners have some hold on him not visible to the rest of us Krill – in the vernacular, they’ve got him by the balls. We have no data to choose between those two.
“Abe should go” – Abe is as dangerous as they come. He is working effectively to revive Japan’s weapons manufacturing. And we do know where that leads.
Once you have a good weapon factory – you need more customers. It’s so easy to generate new customers- just start a little brush fire war somewhere far away. Profits for years. Then what? Well; “more”. And keep in mind the Japanese now make truly excellent machines and electronics…
Obama is an asshole; pure and simple; worst president since….Bush? Wow, worse than Bush? Yes, most assuredly. And that is an accomplishment…
Tsipras has been portrayed as all over the map; that’s hugely f##ked up reporting by the MSM.
To those paying attention, Tsipras has been very consistent; to a fault.
IMO, Tsipras will win this fight against the EUpire of evil; that which follows, will be the house of cards, that is the EUpire of hubris and cruelty, collapsing to dust. Western civilization is about to evolve; hopefully not violently, but that remains the only question, IMO.To Greenpa; why is never a good question; endless possibilities never resolving anything. Who, what, when, and where; that may or may not get results, but are worthy questions of serious inquiry.
@greenpa, V.arnold
I think it’s a very good idea to apply behaviourism to politicians and not try to work out their internal working or those of their unknown backers.
I often suggest that people to do this too. Watch the policy makers as you would a professional entertaining magician. i.e. watch the hands (what they quietly do), and ignore what the face is saying. I guess you miss out on all the lying cues like touching the nose etc. but as you point out, they are not important, what they do is more important than what they believe. Yes, Tsipras still looks OK to meObama won’t speak because these things are out of his hands. The empire, Rove’s empire, the permanent government that is not really the government but the interlocked elites, make the decisions or in some cases non decisions and wait for events to unfold and then move to gain the greatest advantage. Prepared for anything as luck favors the prepared especially when others are in panic.
This is how things work now. The same applies to Merkel and Germany. Take the Minsk accord for example and Kerry’s follow up trip to meet Putin. Both Merkel and Obama took steps to diffuse the crisis. The permanent government ignored them. Merkel with egg on her face and Obama letting the weak Kerry be humiliated and soon after he was humiliating him too.
With Greece, why keep using the word negotiations, there were never negotiations, negotiations were never intended to happen. There were never even talks to be allowed, talks would have had the sides speaking with each other, not at each other. Only one side was prepared to talk and negotiate and now are not allowed to talk with anyone. One side was instructed to bring solutions to the table much in the manner a schoolchild is instructed to bring forth their homework and then met with flat refusal to even look at their paper. The troika is now a monster revealed for what it is for those with eyes to see, a monster of terror and pain straight from the depths of human depravity, irresponsive to naught else but whatever self-learned interior pathology the devious and cunning generate to deceive; a monster needing caging and everlasting restraint, put on display forever as example of the evil the species can obtain, maybe to frighten young students into studying their lessons and doing their work as well as the Greeks have done.
Carbon: “Watch the policy makers as you would a professional entertaining magician” – I like it; a useful approach. 🙂
Rapier – yes, those things are true; but there are many cases where politicians still make lots of public noises about things they cannot really affect- when they refrain from making noises; that is also information. 🙂
” In a sense, Eurozone member states can be compared to emerging economies that are issuing debt in a (foreign) currency they have no control over and get into serious trouble when market momentum changes and access to finance is completely cut off.”
Amplified Friedmanism.
“Until 2010, this gap in the construction of monetary union in Europe went completely unnoticed.”
BS
“Financial markets reacted in a predictable way…”
No kidding. And on and on…
” An even more worrying issue is that the principle of democracy is being hollowed out.”
Wasn’t this the original goal, anyway?
A purely for fun example of the utterly meaningless noises politicians constantly make – and brief, too! –
“Japanese Prime Minister Shinzo Abe says Japan welcomes the agreement reached between the United States and Cuba. Speaking to reporters on Thursday, Abe said he hopes restored diplomatic relations between the 2 countries will bring stability and prosperity to the region.”
www3.nhk.or.jp/nhkworld/english/news/20150702_19.html
Wow! Yippee! 🙂 It boggles the mind (well, my mind) that this timeless bit of forward movement for our species is now enshrined for all eternity in ever expanding, and permanent, digital ripples; to be searched, examined, and integrated by all generations of humans to come (if there are any.)
“And yet, today, in a stunning display of the schism within the Troika, it was the IMF itself which explicitly stated that Greece is no longer viable unless there is both additional funding provided to the country, which can only happen if there is another massive debt haircut.
This is what the IMF said:
‘Even with concessional financing through 2018, debt would remain very high for decades and highly vulnerable to shocks. Assuming official (concessional) financing through end–2018, the debt-to-GDP ratio is projected at about 150 percent in 2020, and close to 140 percent in 2022 (see Figure 4ii). Using the thresholds agreed in November 2012, a haircut that yields a reduction in debt of over 30 percent of GDP would be required to meet the November 2012 debt targets. With debt remaining very high, any further deterioration in growth rates or in the mediumterm primary surplus relative to the revised baseline scenario discussed here would result in significant increases in debt and gross financing needs (see robustness tests in the next section below). This points to the high vulnerability of the debt dynamics.’
And the kicker:
‘these new financing needs render the debt dynamics unsustainable.’
Bingo, because that is, in a nutshell, precisely what Tsipras and Varoufakis have been claiming since day one. As expected, a Greek government spokesman promptly said that the IMF report is in line with the Greek government’s view on debt.”
https://www.zerohedge.com/news/2015-07-02/did-imf-just-open-pandoras-box
A commenter said:
“Looks like US is using IMF to mess around a bit with German (and russian) ambitions.”
With the ability to eavesdrop on everyone, everywhere, there is excellent opportunity for blackmail/extortion of public officials. If you want to be elected you bend for cash, if you want to stay elected you bend for silence. No candidate will get anywhere close to the levers of power who is not bought and paid for, one way or the other. Massive, systemic corruption.
What is missed in mainstream analysis of the current debt situation is that it must collapse, and then growth will be over and we will need a new system. Varoufakis gets this, and wants to help Europe on this difficult path. He may be doing so.
Here is Ugo Bardi updating the Limits to Growth projections, which have us hitting some inflection points about now.The Limits to Growth and Greece: Systemic or Financial collapse?
Spain in Transition? looks at the power-down transition that Spain is going through, the history of the fascists killing the populists and so on. It is detailed, well organized and speaks strategically of the transition into “degrowth” and how many politicians can not bring their lips to say anything smacking of financial-regime-change.Spain in Transition?: Answers from the grassroots facing a collapsing country
* Daily Obama Amalgam
– He harmonizes with the owners but his song resonates with the common man
– He acts unexpectedly; No one knows why he does what he does
– He either owns the thumb screws or has his balls stuck in them
– He is rectally pure and simple
– Things are out of his hands
– He serves Rove’s empire
– He is a pilgrim and stranger in the White House and not a part of the permanent government
– He is worse than Bush Jr. who was worse than Clinton who was worse that Papa Bush who was worse than Reagan who was worse than no one* Tsirpas is consistent; Technology enables extortion; Spain is degrowing; Japan makes fine watches and/or lasar guided missiles; Luck favors the prepared; We are nearing either an inflection point or an asymptote
* The Troika lectures the Greeks in the forum rather than bargain with them in the agora; They are man’s best friend cubed, aka Cerberus; They should be chained to the gates of hell as a tourist attraction for the damned
* Politicians are like magicians; Watch their hands, not their faces; Only wholly owned affiliates will henceforth pull the levers of power
* The Eth-word is no longer used in polite society; Ethologists see things the way they are and don’t ask why rather than dream of things that never were and ask why not
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