Debt Rattle March 17 2018
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Times Square NYC ca. 1909 • Higher Interest Rates To Spell Private Debt Trouble in Many Countries (BBG) • The US Economy Is Not Really Growing
[See the full post at: Debt Rattle March 17 2018]So if the GFC of eight years ago was the worst recession since 1930’s then why weren’t people starving and super mobile etc. I’m so used to seeing graphic images in black and white from that time period that the recent crash just seems more like a bummer than a shit storm. I know people are working long hours etc and are leveraged to the eyeballs but people just seem fatter than they did in those old photos. It just doesn’t seem as dire. Am I missing something?
oxymoron
It just doesn’t seem as dire. Am I missing something?Probably a lot. Especially if you read western corporate controlled media.
Ilargi compiles lots of CCM, especially the economics; quite literally, most are fantasies.
Ilargi presents many of them preceded by wry comments.
Due to many factors (the homeless excepted) most Usians are invisable, so their plight is not easily seen.
Surely you’re aware of the opioid epidemic; the 60,000 deaths make the headlines, but the living victims/addicts are nowhere to be seen; or heard from. Just whom do you think they are?
The U.S. is a Potemkin construct with uncountable distractions at all levels; some of us see reality, but it can be a Herculean effort requiring focus through the shitstorm.
It is the worst of times; and the very best of times…depending…Because, The Guardian, promoting bullsh*t while debunking bullsh*t. (apologies, I’m an American. We literally can no longer talk without using expletives)
So they are generating fake news, but note the second paragraph ONLY for Trump and Brexit. Hillary and the “Remain” crowd are pure as the driven snow. Oh, and while we’re being objective, toss in 2-3 gratuitous jabs at Trump. Yes he’s a boor, but don’t they ever get tired of saying the same thing and have it not matter? It’s bringing virtue signaling to cult Olympic status. “5 minutes of hate” is supposed to be fiction; as a writer and smart guy you should know that. You might have noticed the things they shot Kennedy for are the same things they complain in Trump: mafia put downs, law and order, going up against the MIC, making peace with the Russians, disclosure of secret projects. Half the country was appalled by that with Kennedy too, but it’s just re-writing history, the very subject he speaks of.
Take MLK. They hated, hated, HATED him. So, so much. Our now-vaunted, lilywhite FBI harassed and surveilled him constantly and sent him letters telling him to kill himself. Documented fact. The nation was offended by the ruckus he was making, how it was dividing the nation and families. But the last straw was when he connected civil rights and the far-outsized death of poor black Americans in Vietnam, going full peacenik, as you might remember from Mohamed Ali. Doing the rights, flipping the vote, fine. Stopping buses, having useless marches, fine. Shut down the flow of blood and treasure to the military? Dead in a year. Anyway, the point was, they, we, the American people, hated, hated hated MLK, just as so many hated Kennedy. …Until he died. Then suddenly everybody loved him and always had loved him, like something out of an Orwell novel. “Oceania was at war with Eurasia; therefore Oceania had always been at war with Eurasia.” This was true of Eugenics too. In 1910-1940, everybody was for eugenics, teachers, politicians, businessmen, and ESPECIALLY Professors. After 1945, nobody had ever been for Eugenics, sterilizing deviants, purging races, because it was evil. Same with Continental Drift. Before, it was crazy tinfoil hat nonsense to suggest “continents” could “move”, then one day, EVERYBODY in science and larnin’ had ALWAYS believed they moved. Galileo probably had the same experience.
Shariatmadari is the same, totally blind to how what he says has ALWAYS been true, and HE is the one who’s blind and has faults now, but all these faults are somehow in the future, maybe later. Same with how maybe someday we’ll be in danger of losing our privacy to corporations, you know, later, if we don’t click right on Facebook, or we’ll lose our 1st, 2nd, 4th, 5th, 6th, 8th, and 10th Amendments in the future, but we haven’t lost them now, although I can read articles all day every day about how those are trampled. But they’re not, because we would have noticed by reading in the paper, the things we ARE reading, which tell us they are trampled, except they aren’t. Got it?
Same with the present Depression. This is not unique. First, they call it the greatest recession since 1929, which it probably is. But that doesn’t make it equal, (although it probably is, but more akin to the 1870 Long Depression). Again, since they lie, cheat, spin, and redefine history, they never told you that the Dow in 1979 had fallen 90% in purchasing-power terms. That is, it was a Stock crash equal to or exceeding 1929. But WE, us smart and modern people, aren’t as dumb as our Neanderthal grandparents, who were clearly all naive idiots. That couldn’t have happened, or we would have noticed, it would be in the papers, the textbooks somewhere. So this is the SECOND Great Depression since then.
So with today. In 1930, if you had a job, you kept your head down and survived, floating from debt to debt, bill to bill, while the less fortunate stood in soup lines and lived in tent cities. So did you see the article on the hundred thousands in tent cities nationwide? The ones that have been increasing since Bush II? Do you see the increase in debt, the record-high 100M not in workforce, 25M on food stamps, our modern soup kitchen? You see the record people fleeing California, Illinois, Greece, and elsewhere? It happened slow last time too. And people didn’t see it then, either. In 1939, the newspapers, the NY Times were STILL publishing stories about how the Depression had ended, was ending, tomorrow, next month, same as they had written in 1930, a decade before. “Sun’ll Come Out Tomorrow.”™ STILL what FDR did STILL had never worked, although the NY Times and the history books said it had.
That is EXACTLY like today, and like 1929, it is fake news in the service of the powerful. Otherwise, why own a newspaper? To lie, silly! To make the people think what’s true isn’t true! “Buy now and save!” It sure ain’t for the money. No, with 100M out of workforce and +20M on food stamps, and everyone else in debt and sleeping on basement couches, it’s the very DEFINITION of a Depression. Same article as above, and that’s being generous, if you add the real 6% inflation over 10 years vs an anemic GDP of ~1%, you get a 5% decline in the economy compounded by 10 years, or 63% contraction. That matches nicely the debt, tax receipts, retail, bankruptcies, and unemployment numbers.
We’re not smarter than our parents. We are fooled by the same things they were fooled by. Time, false promises, and lies upon lies.
UK defence secretary tells Russia ‘go away and shut up’
This is really unbelievable. He all but said “Fuck off.”
The reason he – and his prime minister – are losing their cool Britannia is because the Syrian army with Russian help is killing British soldiers in Syria. They tried to have a 30-day truce to allow for the evacuation of these people. The Russians – for once – would not go along with it at the UN. Too many Russians have been killed by the activities of these special forces – last week a plane with many pilots on board was shot down while trying to land at the Russian base. The Russians want to get even. I doubt if they will take any of these people prisoner.
Finally, the Russians are saying the obvious:
‘Not proxy’: Lavrov says US, British, French special forces ‘directly involved’ in Syria war
The most interesting thing is how the Russian Ministry of Defence replied to this British outburst:
‘Fishwife’s rhetoric’ reveals ‘intellectual impotence’ of UK Defense Secretary – Russian MoD
Here is some of what they said:
A “cozy home” of “fake sensations,” that’s how the ministry called the UK, referring to Syrian Observatory for Human Rights and the White Helmets. “Therefore we’ve developed a strong immunity to London’s fake accusations of Russia.”“As for the boorish expressions by the UK Defense Secretary regarding Russia, in the absence of actual results of his official activities, apparently, they alone remain in the arsenal of Her Majesty’s Armed Forces,”
The subtext of that is that the are killing British soldiers – that is what “absence of actual results of his official activities” means
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