Debt Rattle June 10 2016
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Lewis Wickes Hine Workers in Maryland packing company 1909 • Marc Faber: Brexit Would Be Best Thing To Happen in Britain’s History (CNBC) • Brexit Mig
[See the full post at: Debt Rattle June 10 2016]Again, I only wish I were being sarcastic, or this were The Onion, but in addition to giving everyone a new EU Tax # on the eve of Brexit (I’m sure they never intend to use it), and Britain losing $8.6B to the immediately-failing Juncker Plan while English homelessness is up 25% in 4 years, the EU is spending $1.4M of Britain’s money to rename the English Channel to le “pond” to “encourage greater integration” between “regions” — not nations, heavens no: nation-states must be annihilated and replaced. With corporations, I expect. Certainly Draghi’s new bond-buying program turns the printing press to unlimited cash support to private corporations. –But only the annointed ones, of course, the friends of friends. You won’t see him buying Greek supermarkets or Ma-n-Pop Diner’s debt and helping them out. Heavens no. Help is exclusively the purview of the large, connected, insiders; a group sometimes referred to as the “corrupt crony class” even as thousands die of suicide, neglect, and open abuse in an open war on the people.
If only the amusement of renaming the Channel were all, although I suppose making everything non-English is the fashion these days. No. In addition, the EU intends to break England into 11 Administrative Districts, which considering +90% of the law is written by the EU (mainly because they write new laws by the hundredweight) is not an idle bureaucratic structuring. Oh no. Besides spinning off districts like Wales and Northern Ireland who are very likely to go their own way and destroy Britain’s hard-kept sovereignty, they are taking the coasts, tying them into Portugal and foreign coasts where the districts will be out-voted and overlooked, losing all local sovereignty as well.
So, do we have a sense of where the EU is headed yet? Is saying the total destruction of Britain and perhaps all nation states actually hyperbole, or a cold, critical assessment? Because I’m struggling to come up with another plausible reason here.
I follow the discussion with interest, but I don’t think many Britons actually get what it’s about. They seem to think it’s between Boris and Cameron. It’s fine not to like Boris, but that means voting for Cameron, Osborne, Juncker, Tusk and 5 more unelected presidents, plus whoever’s in charge in Berlin, all of whom will tighten their grip on Britain, and it’ll be years before you get a chance to get your say on this again. Boris as PM isn’t all that bad, because he won’t last long. But yeah, I’m biased, because I think, as I’ve written a thousand times, that the Union is unholy.
ZH on Clinton’s email issues:
https://www.zerohedge.com/news/2016-06-10/fbi-leaks-begin-emails-center-hillary-criminal-probe-revealedWhat a mess.
Re: “It took $10 in new debt to create $1 in GDP in Q1 2016”
I’d like to see how this looks on an annual basis, or for each quarter of the past year (not just Q1). For the past 25 years, it looks more like $1 of added debt for $3 of added GDP (a far cry from $10 of added debt for $1 of added GDP). Details in June 8 comments.
Just adding, it doesn’t take ANY debt to increase GDP. You can exclusively use savings and production to make and do things, although that isn’t the way it’s usually done. In any case, any % debt increase over GDP leads to what? That’s right, debt infinitely running away from production, which must and will create an inevitable crash as the worthless debt becomes recognized as worthless, is written off, until claims on goods and actual goods again match up. …Then humans make the same mistake all over again.
Since during the collapse-reset of fantasy claims to reality, assets are repossessed and ownership is changed, who benefits from the over-issuance of debt and its inevitable default? Does that group run the system, or is it controlled fairly and with equal voice by the creditors and debtors? If it is not fair, not overseen, and benefits only one party, then perhaps we should correct this beforehand?
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
But why fret on that if you benefit more during collapse than when it runs smooth? Collapse as often as you can, or better, an endless rolling collapse, every day.
Massive swing to Brexit – with just 13 days to go
55% Leave – 45% Remain
Hi Diablo, when the world is being controlled by a private cartel who uses force of insight into how ordinary people can be manipulated ad nauseum, I would suggest that specificity in naming the culprit is required. “Friends of friends,” is a term that is effectively meaningless as it is waaaaay to general to impart any real information regarding the monetary/financial/economic warriors that are Sun Tzuing everyone else.
Debt-Money Monopolists is specific. It highlights the WHO, the WHAT, and the HOW of pinnacle of their authoritarian triangle of control.
If you want to include the next layer of control, you can use the term Debt-Money Monopolist Mega-Corporate Fascist Empire system so that people will be told the Debt-Money Monopolists leveraged their Money Power (not society’s or government’s… we are SERVANT BORROWERS) into control over mega corporations and government, as well as reveal the true form of government which holds sway over us – it is a fascist empire system.
I’m always open to other options, so please share any if you think any offer a better description or entry into the “rabbit hole,” as it were.
I’m still waiting for someone to argue that a SERVANT government that has to borrow money from a private cartel is sovereign. The first thing a sovereign government would do IS TO SEIZE BACK THE MONEY POWER FROM THE PRIVATE CARTEL. This is a no brainer, common sense truth, hence, people ignore this reality so their cognitive dissonance can comfort their soul… with delusion.
“Don’t think twice”
I lived in London for the period 1962-1973. This video is really striking. Not a single black/brown/yellow face on the London Underground.
My brothers and I spoke in Arabic to one another at that time. When we heard anyone speaking Arabic on the Underground, it was a major event. It was later on discussed and analysed at home between us – accent, dialect and probable nationality. Because of our looks, none of these people ever suspected that we could understand them.
My, am I glad not to be living in a London where some schools have kids with 50+ home tongues!
It is all a massive experiment which includes the destruction of the English working-class – and I don’t think the outcome will be good.
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