Debt Rattle Mar 27 2014: How The West Went To War


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    Esther Bubley Sign at the National Zoological Park, D.C. May 1943 The story itself may at times feel repetitious and belonging to a different era, but
    [See the full post at: Debt Rattle Mar 27 2014: How The West Went To War]

    Diogenes Shrugged

    To add to Ilargi’s excellent post, a few more very interesting viewpoints regarding Ukraine:

    Dmitry Orlov:

    Collapse and Systemic Failure at All Levels Coming to U.S.-Dmitry Orlov

    Brother Nathanael:

    Paul Craig Roberts:

    Nigel Farage:

    I think they’re all right, but I’m a little wary about saying that in print where the NSA can see it.


    War? Humor me, here;

    Crux is, TPTB need a diversion about now. A reason to declare “Government by Emergency,” whereby they try and save what’s left of their authority in this ongoing meltdown.

    War is just that diversion.

    A big question is, will they go full assured mutual destruction retard, or will they attempt to somehow “control” the use of the Armageddon Apparatus’ they have at their disposal? “Political Scientists” and control? Ha!

    War is always intended by the instigators of it to achieve an agenda. But once begun, the end result is never predictable. Especially given today’s military machinery.

    For certain, instigation of such insanity for the purpose of diversion is, at the least, a losing proposition, the diversion being the goal, rather than the consideration, or even slightest inkling of the potential death and destruction that lies beyond it.

    Oh well, nice that they all have multi year underground survival facilities in place and ready for them. Eases the burden of choosing the magnitude of the event a bit,,,on their part.

    And one could be led to think a massive human die off wouldn’t disappoint a few “Peak Everything” advocates in some circles. Sure hope their “Dear Leaders” leave the light on at the bunker for them.

    But, hey, hand over ” Climate Change” to .gov, and you’ll get a Nuclear Winter?


    What the hell is this guy saying?

    “I don’t see a major bubble right now, but one will form as we are trying to remove the accommodation in the years ahead,,,”

    Hey Bullard, a bubble WILL be formed by you apparatchiks in the Fed as an excuse to remove accommodation, as is ALWAYS the case with Federal Reserve Policy. Coming from a Central Planner like you, this grates as bad as your philosophy that “Inflation can be too low.”

    Lord forbid, everything gets more affordable for the lower classes. That’s just not equitable for you, is it?

    Beam me up or, some way, just so it’s outta here!


    I thought the “Shock Doctrine” meme had gotten pretty good traction, so seeing it here I find myself surprised by how rarely we see this in the context of “Austerity”. Odd how “austerity” promoted from on high becomes palatable when voluntary simplicity, intentionally reduced consumption, and an end to a generation growth (in effect if not by declaration) have been and likely remain beyond the pale. I would say Klein’s shock analysis goes some way to accounting for the docility with which we respond to “the god that failed”…


    This blogger quotes Orlov’s very funny joke about Putin.

    March 26, 2014
    Popcorn Please While “Putin’s Agitators” Rule in Kiev

    While anything seems possible, the operating assumption among some American and European officials is that Mr. Putin will not overtly invade eastern Ukraine but instead opt for a murky middle plan, using local agitators and perhaps undercover special forces to stir even more unrest in largely Russian-speaking areas of the country.
    U.S. Challenge Now Is to Stop Further Putin Moves, NYT

    Putin is watching TV. Calls up his Chief of Intelligence: “Give Tyagnibok a medal for banning the use of Russian in Ukraine. What do you mean he isn’t one of ours? Ok, give Yarosh a medal for the idea of blowing up Ukrainian gas transit lines. What do you mean, that’s his own doing? How about that cretin Lyashko? How about those cretins from Svoboda—Miroshnichenko and others? So, DO WE HAVE ANY AGENTS ON THE GROUND IN UKRAINE AT ALL?! Where the hell are they? What the hell do you mean they bought a dump-truck of pop-corn and a tanker truck beer and are watching it like a movie?!!!” Hangs up in disgust. Calls again: “How could you let Muzychko get killed?”
    via Cluborlov

    Pepe Escobar has to be one of my favorite scathing reporters. I check for his “Roving Eye” reports each week on Asia Times

    Why the EU can’t ‘isolate’ Russia
    By Pepe Escobar

    German Chancellor Angela Merkel could teach US President Barack Obama one or two things about how to establish a dialogue with Russian President Vladimir Putin.

    As if Obama would listen. He’d rather boost his constitutional law professor self, and pompously lecture an elite eurocrat audience in the glittering Palais des Beaux-Arts in Brussels, like he did this Wednesday, on how Putin is the greatest threat to the US-administered global order since World War II. Well, it didn’t go that well; most eurocrats were busy taking selfies or twittering.

    for the complete analysis go to.


    Apparently the steel sector has been very lucrative for many in China. You can see why these things are not quick to wind down; too much money being made.

    “Firstly, the government owned mills buy their iron ore from a “friendly” trader at inflated prices and then split the profit.

    This is a straight out procurement scam, which is common the world over. But it does provide an incentive for mills to keep buying iron ore even when the economics don’t work.

    The second part of the play is a uniquely Chinese one and comes about due to the preferential access to cheap credit afforded to state owned enterprises.

    Lou says state owned mills turn their expensive iron ore into steel, but rather than sell it immediately often use the product as collateral to borrow money from a state-owned bank.

    This cheap credit is then lent to a third party – often a property developer or coal miner – with a hefty mark up attached.

    “The plant does not make money, but those connected with it make huge profits,” said Lou, who has spent time at both Harvard and Oxford University.

    “This has totally distorted the Chinese economy.”

    Once again the distortion works on two levels – it inflates demand for iron ore and has resulted in chronic over capacity in the Chinese steel sector.

    “As long as the mill is in operation you can play the game,” said Lou.”

    China’s iron ore ponzi scheme

    Who would want to see this end?


    I think Fred Harrison has the best overall perspective in terms of causes and solutions.
    We need more discussion of Georgism.
    Fred Harrison: Optimal Policies for Avoiding World War III

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