Debt Rattle March 21 2019
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Pablo Picasso Bathers with ball 3 1928 • Why The Fed Keeps Propping Up The Market (Colombo) • Fed’s New Balance Sheet Plan: Get Rid of MBS (WS)
[See the full post at: Debt Rattle March 21 2019]Ach! Thank you for the daily SNAFU report.
It’s somewhat comforting to know nothing major has upset the status quo of the “markets”, financials, and just, life in general. 😉NB: I agree with Jesse Colombo that “The Fed’s constant intervention in the market has created a moral hazard on a scale that has never been experienced before by humanity”, but I think that 1) things are much worse than his words would seem to indicate, and 2) the use of the word ‘markets’ is grossly misleading. What the conversation needs, and I mean in general, not Jesse’s part, is honesty, which is nowhere to be seen, and, related to honesty, a correct interpretation of what words actually mean.
The Fed (and ECB, BOJ) simply buy up everything that risks losing money for the rich. It’s like some mob protection racket gone all nuts. But they have us call it ‘markets’ and then it appears all normal.
It’s like some mob protection racket gone all nuts. But they have us call it ‘markets’ and then it appears all normal.
Precisely; and we bask in ignorance…
“Stagnant Capitalism” (Varoufakis)
We have Capitalism? Where?
P.S., the Great Depression was caused by central bank credit flood and the government’s reckless intervention in the world gold flows. Then after it happened, both Hoover and FDR continued to intervene as much as humanly possible, prompting businessmen to retreat in fear, in contrast to Coolidge, who told them to take their d—-d medicine like grown ups and cured a worse crash in 9 months. THAT’S capitalism: a system where you [the rich] go bankrupt like men instead of crying like babies and brats. A system with rules that apply to ALL actors.
“How do free marketeers convince themselves that there exists a single real interest rate?”
They don’t because that is the OPPOSITE of a free market. The Fed system, while bad, is far worse than even suggested because there is not and can never be “one rate.” Every loan contract made would have a unique rate and terms for that unique situation. Even the Fed knew this in 1913 by creating 12 Fed districts, each with their own rate, for Ag in Texas, gold in California, and banking in New York. Bad enough and not a free market either, but now erased for that “one” rate that wasn’t intended and works 12x worse – just ask Minneapolis, Kansas City and Cleveland who like Greece and Italy have no voice and a rate that destroys their economies like African colonies. If we don’t look out, it could lead to the rise of unfortunate populists to cure the unemployment and economic devastation.
Yeah Varoufakis, we have a “free market” when there’s dictatorial control of money, no bankruptcy, and no price-discovery. That’s the problem, sure.
“The president was given clear and indisputable evidence that Russia interfered in the election.”
And they were so worried about this clear danger they never informed the Trump campaign and never intefered with the suspects in question. Then after investigating for 9 months, it was so clear that Obama declared the election legitimate and that Russia hadn’t changed a single vote. Then 2 years of the Mueller investigation [ostensibly] found nothing. But why dwell on the past? Let’s forget all about it and investigate it again.
MMT, SMH. Sure it works great except everywhere it’s ever been tried when it catastrophically destroys the nation, most especially the poor. Other than that, it’s great.
New Zealand Bans All Assault Weapons Immediately (AP)
It’s not for me to say, but since Jacinda is erasing free speech in favor of unaccountable, unlimited, and arbitrary government control of all human ideas against multiple groups who are unrelated in any way to the shooting, maybe now is the time New Zealand most needs assault weapons? If they punish even unrelated free speech, jail people who share news, and ring-fence her nation like North Korea when they have weapons, I can only imagine what she will do when they don’t. This is a grave issue, and I fully expect them to concede to dictatorship and support the end of Western values and the enlightenment, as they effectively already have. I don’t want to be rude, but the one and only thing that actually stopped him was a guy in the Mosque who had a gun and ran him off. Much as I don’t like it, seems like the opposite lesson to be learned from that Jacinda suggests.
P.S. like Youtube, she will be happy to destroy the whole TAE site to silence one otherwise powerless commenter like me, and soon Europe too. You must not be exposed to the existence of other opinions: that’s freedom and democracy.
For those who want more info on MMT
About
About
This is a blog that will explain how the modern monetary “fiat” system works. We will endeavour to explain the mechanics of modern money. This will not be based on theory but fact. Make no mistake about it that this is an economics blog.• New Zealand Bans All Assault Weapons Immediately (AP)
“It can be done. Just not in the US, too many guns there already.”Precisely HOW can it be done, Ilargi?
Are you going on record here as favoring a purge?
Are you advocating for the murder or imprisonment of a quarter of New Zealand’s population?Have you even seen the banned Christchurch video? His spent shell casings vanish in mid-air (see link below). The bodies were pre-stacked face down in the corners before he even entered the room. They banned that video because it’s permanent evidence of a sloppy hoax. NOBODY DIED AT THE CHRISTCHURCH MOSQUES.
One in four owns a firearm:
https://www.buzzfeednews.com/article/tasneemnashrulla/new-zealand-gun-owners-surrender-guns-christchurch-attackScroll down and watch the video:
Dress rehearsal at the second mosque:
#dressrehersal ? pic.twitter.com/pEVlykEIOT
— SolAdentro™ (@SolAdentro) March 18, 2019
http://www.johndayblog.com/2019/03/changes-underway.html
US-made “crisis” in Venezuela seems to be coming up short at street level. Meat is short, but there are beans, rice and vegetables.
CG: During blackouts, people told stories, played music, or went out and talked on the streets. It was a paradise, no TVs, smartphones, but real human contact. People cook together. During the day they’re playing board games, dominoes, and kids are having fun. People with kids are possibly more stressed, especially if you live in a tower block, as if you’ve no electricity, you’ve no water. That is why the US hit the electricity grid as it means no water in Caracas – a city of 10 million people. Luckily there are wells with clean water around the city, so people queue up to get it.
PC: So there was a real discrepancy between the image you were given of Venezuela and the reality?
AG: Sure, there are queues for oil, but people are not dying of starvation and, as I said, poverty is no where near what it is like in Brazil. I wouldn’t say a harsh dictatorship, people were open, and criticized the government, and the US, but also Chavez and Maduro. The Partido Socialista Unido de Venezuela (PSUV) have admitted they had made bad economic decisions. I thought it would be more repressive, and it wasn’t. People were not fearful about speaking out. I think Venezuelans blame the Americans for the situation more than Maduro.I wonder what will come of this meeting. Trump should be able to quell any dissent, but won’t get army boots in Venezuela from these guys.
“President Donald J. Trump will welcome the leaders of the Commonwealth of The Bahamas, the Dominican Republic, the Republic of Haiti, Jamaica, and Saint Lucia on Friday, March 22, 2019, for a meeting at Mar-a-Lago,” Sanders said on Tuesday. “The President looks forward to working with countries in the region to strengthen our security cooperation and counter China’s predatory economic practices. The President will use this meeting as an opportunity to thank these countries for their support for peace and democracy in Venezuela.”
https://sputniknews.com/latam/201903201073384999-trump-discus-venezuela-caribbean-leaders/I’m not an expert on this, but wouldn’t hitting the electric grid and shutting off civilian water be an international war crime?
Asking for a friend.
The “shooting” occurred on March 14.
Just like all the other “shootings” in the US & Europe, they prepared the narrative beforehand.
• Remain Would Win Second Brexit Referendum Clearly, Poll Indicates (Ind.)
Ilargi: But it would be undemocratic?!It would be undemocratic to ignore the current majority opinion, especially since 3 years have passes and the public has much more information now (including information about how inept their government is). A new referendum could honor the results of the prior referendum, and ask a different question, such as…
“Should the United Kingdom remain outside the European Union or rejoin the European Union?”
To honor the 2016 Brexit referendum, while allowing the UK to rejoin the EU (under all previous terms), the EU could make a special deal whereby the Brexit date is extended until the day before the results of this new referendum take effect, with the EU agreeing to keep all the EU membership treaties and agreements in place temporarily for the UK, for one day only after the UK officially leaves the EU.
If the new referendum result is “Rejoin” then the UK officially rejoins the next day, with renewal of all treaties and agreements.
If the new referendum result is “Remain” (remain outside the EU), then the EU membership treaties and agreements are not renewed.Highlight, cut and paste that entire link, otherwise it goes nowhere.
The “shooter” also fired three shots through his car windshield as he drove away. Go ahead and try that yourself at home. After your first shot, I’ll ask you an important question that I already know your answer to. It will be the same answer you give for at least a week. You’ll say, “What?” Because you’ll be deaf. That guy, assuming he wasn’t just a Photoshop creation or video game cartoon, was shooting an air gun. The magazines were mere visual props.
For a good time, if you have the original “shooter’s” video downloaded on your computer, go to 10:58 and watch just two seconds. His air gun actually BLOWS the skull cap off of one of the crisis actors. Hilarious!
Try not to get too weepy over this farce. It wasn’t real. Rather, enjoy THEIR panic because the cat is definitely out of the bag. No amount of censorship will un-see what the astute among us have already seen.
Well, three things. My Kale is happily growing in my garden and hasn’t ever had any pesticides near it.
Secondly I live in Christchurch and I can assure you all that the massacre did happen and on 15th March. (It depends where you live as to whether it was the 14th or 14th March. Have you heard of time zones?) The man did not stop him at the Linwood mosque by a gun. He threw a credit card machine at him! The terrorist dropped his empty gun while trying to get more guns from his car. The man picked up the empty gun and threw it at the terrorist and it broke a windscreen. The terrorist, who is Australian, drove off and two policemen chased him and rammed his car. He was arrested, appeared before the court on the 16th March and is remanded in custody where he is apparently in Solitary confinement. He will appear before the High Court in early April. Many many years ago Australia had a massacre and the Government banned all semiautomatic guns. Unfortunately we here in New Zealand did not. That is why he can here to do what he did. We do not want such guns in New Zealand and that is why the whole country supports our Prime Minister. If you in America like killing each other or watching people kill people so be it. Each to his own but we do not want, in any way, to be like America.
Thirdly MMT is the lens through which you can see how all sovereign countries operate today. Once you understand how the system works then you can then apply your politics
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