Debt Rattle May 18 2016

[Raúl Ilargi Meijer]

Russell Lee South Side market, Chicago 1941 • US Debt Dump Deepens In 2016 (CNN) • The Humungous Depression (Gore) • Negative Rates Are A Form Of Tax
[See the full post at: Debt Rattle May 18 2016]

[Dr. Diablo]

The Dr. being a day late, Trump did follow Keen in suggesting “you never have to default because you print the money. … So there’s never a default.” –CNN, May 10th

So he’s on board with all the geniuses who think the U.S. is a permanent fixture of all history because–geniuses we are–we’re the first to figure out how to print yourself to prosperity. Prosperity you see all around in articles like this: https://www.washingtonpost.com/national/from-belief-to-resentment-in-indiana/2016/05/14/d1642222-16fa-11e6-924d-838753295f9a_story.html with quotes like:
“Despair is our business, and business is booming,” and
“This is how it feels to be sold out by your country.”
and the classic:
“The white American underclass is in thrall to a vicious, selfish culture whose main products are misery and used heroin needles.” https://www.nationalreview.com/article/432876/donald-trump-white-working-class-dysfunction-real-opportunity-needed-not-trump
Yes, prosperity always comes from printing currency, and we are getting exactly the same level of prosperity as other purveyors of that school, Argentina, Venezuela, and Zimbabwe.

The hit and miss Peter Schiff wrote a hit-and-miss review of Trump’s position here:
https://www.zerohedge.com/news/2016-05-16/peter-schiff-trumps-realism-krugmans-scruples
Which points out that, as stupid as the genius economists are in telling us all we need to get rich are not to work and trade–how gauche!—but to click currency bits into a computer, Trump does at least come one step closer to breaking the wall of lies on “that-which-shall-not-be-named”, that is to say, that debt, and specifically the U.S. Federal debt, is the real problem.

Because, according to economists, borrowing infinitely at an ever-increasing rate is NOT a problem, but really a sign of your strength and solvency.

I would add “/sarc”, but unfortunately they literally believe this, so I am literally forced to report it in all earnestness with a straight face.

[Greenpa]

I recommend to all here this BBC feature:

https://www.bbc.co.uk/news/resources/idt-aad46fca-734a-45f9-8721-61404cc12a39

Unusually well done in all aspects, and entirely relevant to the world of economics. Using the Ganges river as a metaphor, beyond its pure reality; it illustrates how humanity is currently totally powerless to effect “good” change. We just can’t do it. We can see the problem before us clearly, see our own deep interest in change- and still have no effect on the problem.

Past time, really, to abandon any thinking that any “policy” changes will be of any benefit. This world does not work that way.

[Nassim]

“Simply shutting the door on migration is not an option.”

This is patent nonsense. The British are quite adept at controlling their borders – when they are so inclined. Witness how difficult it is for those at the Calais camp to get across the Channel.

Furthermore, the British – like all empires – are quite good at shifting populations around to suit their purposes. It would be remarkably easy to monitor the internet to determine which households are communicating in Urdu, Arabic or Yoruba and to check their occupants out. The vast number of Indians encamped in slum-like conditions in places like Hounslow are only allowed to remain because it suits the purposes of TPTB – despite the headlines like the one below:

UK launches crackdown on rogue Indian-origin landlords

Sadly, things are going to continue to go downhill until they resort to extreme measures to send these people back.

[Author]

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