May 5, 2014 at 7:00 pm #12675Raúl Ilargi MeijerKeymaster
Lewis Wickes Hine Berry pickers shack, Anne Arundel County, Maryland 1909 Hey, say what you will, but I’m not one to dodge the more difficult question
[See the full post at: Debt Rattle May 5 2014: Who’s Going To Help The Recovery Recover?]May 5, 2014 at 8:06 pm #12676
Great writing, Ilargi! Thank you.
“America looks good on the surface…” Personal saving as a percentage of disposable personal income was 3.8 percent in March, compared with 4.2 percent in February, and “savings” is defined as including debt payments. But America is all about surface, isn’t it, keeping up appearances. What a complete mess that even the massive propaganda machine is having a hard time painting over.
I think you’re right about China, about a fight going on. Which side will be strung up?May 5, 2014 at 8:12 pm #12677
“There’s no sign of that, obviously, in Britain. In fact, it sort of like exemplifies where the entire world has gone formidably off track: a government that hands over its citizens capital to investors, which temporarily lifts asset markets, combined with a red carpet for foreign investors who owe their money to other governments’ handing over their own citizens capital, and who drive up local property prices beyond the ceiling…”
Yep, and the houses or buildings sit empty, just a place to park their ill-gotten cash. It’s disgusting and it makes me furious.May 5, 2014 at 8:24 pm #12678
Last post. This doctor gives a good Ted Talk on addiction: addiction to drugs, gambling, shopping, work, internet, and at one point he covers addiction to wealth and power. Other than saying Napolean wanted power because he was short (apparently he actually wasn’t for his day), it’s a good talk. He says people are looking for all of the above to fill up the emptiness inside.
“The people in power are very often some of the emptiest people in the world, and they’re not going to change things for us.” IOW, they won’t change by themselves (not unless they have an epiphany, but they’re quite rare). The power will have to be taken away from them.May 5, 2014 at 11:22 pm #12679rapierParticipant
I think Illargi is missing an important point. Life is absolutely fine for let’s say the top 50% of Americans. Or how about Romney’s 53%? They mostly only lost mark to market wealth in the crash and now that’s back, recovered.
It’s ironic in a way that Romney 47% thing sort of ended any slim chance he had because as a point of fact the top 53% are willing if not often eager to see the rest in the likes of that barry picker shack. All these photos of near destitution we see here are of America in the good old days. Well not so good economiclly if they are from the 30’s but the days when people knew their place and didn’t complain about it or if they did nobody listened or cared.
America can function politically with a much larger underclass. It is in the process of writing them off. Especially because they will be predominantly non ‘white’. (I use quotes because race isn’t real)May 6, 2014 at 3:11 am #12680ProfessorlocknloadParticipant
“The only thing we’re sure of is volatility. And that tells us that the entire “system” could crumble just as easily tomorrow as the day after. But crumble, and implode, explode, collapse, it will. Ponzi schemes always do.”
Spot on, just the timing is left to the imagination. Faith in Rulers runs deep, especially among the population of a nation that won the last World War, and has prospered rebuilding the damage done to the losing nations these last several generations. A strong sense of “It can’t happen here” has developed, since the long forgotten Civil War.
On volatility, grand Socialist experiments always begin their journeys with the voluntary support of all those who would benefit, and by those who would foot the bill, reasoning it’s a small price to pay for an egalitarian solution to the “nature” of inequality. It’s sold as a humanitarian thing to do by it’s administrators.
But as more and more realize they can vote themselves a little higher standard of living than the next guy, the costs become a burden to the producer, who then must also line up for subsidy. When critical mass is reached, and the costs exceed the governments revenue sources, the worm turns. (Now?)
At that point, voluntary becomes mandatory, as governments isolate from constituencies, granting generous internal pay increases and benefits far in excess of those of the common folks, in a gesture to purchase loyalty within the ranks. Of course, the public eventually becomes less important to the cause. But the Corporate Structure has much to contribute to the ever closing system, so is taken on in partnership. (Government/Corporate Partnerships ring a bell?)
At first, resistance is punished by example, but as living standards continue to deteriorate, blunt force is administered. Cops paid in six digits, when bennies are figured in, will do whatever is necessary to maintain those lucrative positions, as will most “Civil Servants,” to eventually include the military when the need arises.
The reason timing is such a hard call is, the Corporate Media also has everything to lose in this condition. It will shore up it’s protectors, same as all net benefactors of .gov will. Their “Powerful servant, and fearful master.”
Odds on, though, it ends with a whimper, not a bang. “Crumble” fits. Although it’s a heartening thought to envision a Yeltsin reincarnate standing on a Tank outside Con-gress, waiting for the turret to turn toward the Capital Building.May 7, 2014 at 12:07 am #12694desertratParticipant
Poetry sir. That opening rant really resonated today…
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