Debt Rattle November 4 2017

 

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  • #36868

    Henri Cartier Bresson Shanghai 1947   • Funny Facts Friday (David Stockman) • October Payrolls, Average Hourly Earnings Miss Big (ZH) • Record 95
    [See the full post at: Debt Rattle November 4 2017]

    #36869
    V. Arnold
    Participant

    Things in the US have only declined in the 14+ years I’ve been gone.
    I wish I could say I was shocked or even surprised; but I cannot.
    In fact it has gone pretty close to what I expected.
    One surprise is the rise of Russia with Pres. Putin at the helm. His and Lavrov’s, cool-hand Luke diplomacy, has set the adult standard for today’s world of multipolarity.
    Kunstler’s word smithery is once again painting the present western reality, led by a stumbling and demented US government full of hubris.

    #36873
    zerosum
    Participant

    • America’s Opioid Crisis Is About To Get Worse (ZH)

    Abundant supply is not the only reason.
    For the opioid crisis to get worst, you also need an ever increasing consumption.

    Remove the causes of the need for emotional and physical pain killers and the opioid crisis disappear.

    #36885
    tabarnick
    Participant

    The article about British families being left poorer by a hard Brexit due to increased food prices is really so much fearmongering by the same technocratico-mediatic class that was adamantly opposed to the idea of Brexit in the first place. Apparently, short of an agreement with the EU the UK will have no choice but to slap high WTO tariffs on European food that the UK relies on much, and the substantial tariffs will translate into higher food prices. So far, so good. But the long, detailed analysis of the hardships imposed on the poorer sections of British society assumes that the UK government will collect billions of pounds of tariffs and then promptly set it on fire. In the real world, of course, the government has all the tools it needs to return that money to UK consumers. It can lower sales and value-added taxes, lower income tax, raise pensions and or jobseeker allowance and make sure that the tariffs are revenue-neutral to everyone. Painting an apocalyptic picture of poverty due to government collecting billions of new revenues and then doing nothing with it (what someone quoted in the article, it must be said, described as “in the absence of the government redistributing that money”) is crass demagoguery. Of course the goverment will do something with that money. Of course it will not sit on it. The authors of the report themselves don’t believe for a second the government would do nothing with that money. They should stop playing dumb, peddling crude agitprop and stop pretending to care for the poor.

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