Debt Rattle June 11 2017


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    Mondriaan Amaryllis 1910   • US Weeks Away From A Recession According To Latest Loan Data (ZH) • This Super Bubble Is About to Pop (IM) • Another
    [See the full post at: Debt Rattle June 11 2017]

    V. Arnold

    The end is nigh…
    That mantra is boring and likely to cause poorly planned future thinking/actions.
    Get out of debt!!! That is good advice even in the best of times.
    Until one does that, all else is futile, meaningless.
    Having no debt removes the last leverage anybody can hold against you. It’s downright liberating.
    IMO, that is the very best financial advice anybody can offer.

    On another note; it appears the UK deep state is in panic mode with Corbyn’s excellent showing; brings a smile to my face; the Brits finally got something right; now, what will they do with it?
    The mind-dead Usians haven’t quite figured it out yet; probably never will…

    farmer jon

    “Wonderful. I think, however, that saying it contradicts the Tragedy of the Commons is a bridge too far. Because these people do choose what’s best for themselves.”

    Do you think that the “Tragedy of the Commons” is even a valid theory??? I have heard otherwise…. that it is a false premise often used to justify the need for the state or “the market” to delegate the use of common pool resources. There is substantial evidence humans are capable of sharing common resources equitably without market-state involvement. Another modern day example:

    Based on my reading a commons consists not just of a shared resource…. but:
    1. a defined common pool resource
    2. a group of people who share the resource
    3. a set of agreements about how to share it

    As in the example given in the article, the key thing is that the participants must have actual real world relationships with each other. They have to talk and interact! If one farmer takes more than his share of irrigation water, then the nearby farmers will see exactly what is happening and the greedy farmer’s relationships in the community will suffer. It is not that the individual farmers are not doing what is best for themselves….they are!!….. it is that having good relationships with their neighbors is also in their best interest.

    If the rice paddies were instead divided up among several large corporations then the ability to interact on a personal level farmer-to farmer is destroyed then it is no longer a commons…. it is a free-for-all…. and self-regulation is no longer possible. Ironically, this is when the “tragedy of the commons” model takes shape. When there are no longer any community traditions and taboos… only the quest to turn rice into profits, this is when each entity acts for its own self gain without regard to the others, and an external authority would be required to regulate irrigation practices.


    farmer jon

    Game Theory makes the same point that you made. In many situations, cooperation is essential or everyone suffers.

    New take on game theory offers clues on why we cooperate

    The “Tragedy of the Commons” was used as a pretext for landowners in England and Scotland to grab common land and place it under their “protection”

    “On most commons, rights of pasture and pannage for each commoner are tightly defined by number and type of animal, and by the time of year when certain rights could be exercised”

    As you can see, that is very different from the theoretical model that has been foisted on us in a rewrite of history.


    In my view, the Tragedy of the Commons is an abstract. Its abuse for various reasons confirms its validity, rather than contradicting it. It offers an accurate description of our entire supposedly democratic systems as well.

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