Debt Rattle October 10 2018
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Paul Klee Angelus Novus 1920 (see last article) • Trump “Doesn’t Like What The Fed Is Doing” (ZH) • Chinese Yuan Could Reach A Record Low Again
[See the full post at: Debt Rattle October 10 2018]In the ninth thesis of his 1940 essay “Theses on the Philosophy of History”, the German critic and philosopher Walter Benjamin, who purchased the print in 1921, interprets it this way:
A Klee painting named Angelus Novus shows an angel looking as though he is about to move away from something he is fixedly contemplating. His eyes are staring, his mouth is open, his wings are spread. This is how one pictures the angel of history. His face is turned toward the past. Where we perceive a chain of events, he sees one single catastrophe which keeps piling wreckage upon wreckage and hurls it in front of his feet. The angel would like to stay, awaken the dead, and make whole what has been smashed. But a storm is blowing from Paradise; it has got caught in his wings with such violence that the angel can no longer close them. The storm irresistibly propels him into the future to which his back is turned, while the pile of debris before him grows skyward. This storm is what we call progress.[1]
Great job Ilargi, putting this together in this thread; you never cease to amaze me…
I’m going to be thinking about this for a while yet; I’m far from done with this…In fact I was ready to kiss off the Klee until I read your thread.
Maybe we’re (I’m) too quick to judgement; best to put judgement aside for a time…Not the biggest Klee man myself, but this is too good to let go. ‘Painted’ with a technique he invented himself. On Twitter, the writer of the article, Eliot Sperber, picked up on me quoting him and now follows me. So that circle’s closed too. I thank him for his interpretation and the link to Benjamin (who killed himself in 1940 while fleeing the Nazi’s).
• Trump “Doesn’t Like What The Fed Is Doing”
This is all a stage fight. Somehow Trump hired him but “didn’t know” what Powell was going to do. Riiight. And now he’s raising rates, hammering the world and sucking out liquidity. But he “doesn’t know” that will cause a crisis with 10x more debt than ’08. Riiight. And higher rates won’t cause a government default when it both hits the U.S. economy and our $20T debt. Riiight.
I’ve got a better explanation: the U.S. isn’t going to pay the $20T debt, it never intended to pay it, Adam Smith said in 1775 that no country has ever paid it, it’s mathematically impossible to pay it, and it certainly isn’t going to pay it now. But that leaves the REAL problem: who’s going to take the blame for the default and the resulting worldwide shutdown and reset. The Neocons were going to take over the world and tell them to “suck it, peasants, the new order is unlimited authoritarian fascism, submit or die,” but we see how that worked out for them. The next gambit was to force Chinese Yuan valuation, that would collapse this important economy and world trade, but the Chinese, needless to say, are not stupid and don’t take orders from maniacs. Then they tried to start WWIII about 20 times, in NoKo, China Sea, Syria, Ukraine, Iran, the Red Sea, etc. That leaves the window of active airspace running out fast. They were going to blame it on Trump, but owning the Fed, the PPT, the Wall Street market-rigging HFTs, and the Exchange Stabilization fund, Trump happily rigged worldwide prices and Dow wildly upward, enough to make even Obama proud.
But with $1T/year in Federal debt alone you’re either going to pay or default, and the plan was always to default, hide our assets and play broke like all good bankrupts, then restart, “suddenly finding” all those oil fields on all 4 coasts we haven’t drilled since the petrodollar in 1975, happily using Saudi and foreign oil. That’s why we were pipeline-crazed with no oil under Obama.
So what is the Trump-Powell WWF up to? Be “independent” and “opposed” so they can’t blame Trump, cause a liquidity crisis that actually INCREASES the US$, the core currency, then restructure the debt, the dollar, and the Fed at our leisure. …Because that was long-planned since 1971, and inevitable anyway. And Powell is just playing his part, as is Trump, Wall Street, and incidentally all the Democrats too, who cheerfully play along in their own Right-Left tag team since WWII. Sorry, but that’s where were all going in this handbasket. The U.S., Canada, Europe, and China too. And Powell’s driving. We’re probably already over the event horizon where it says “Lasciate ogne speranza, voi ch’intrate”, or is it, “The truth and hard work will set you free”?
Leaving Disgraceful EU Farming System (Monbiot)
Government helping! Helping so much!!! Once again good intent clears the way to which well-known location? And knowing a thousand years of this, Monbiot and we all say “I have good intent, and the answer is more government!” Much, much moar!
“The truth and hard work will set you free”?
The truth? What exactly would that be?
Hard work? What exactly would that be?
In today’s world, that would be kissing ass, to get ahead.
Hard work? Well it depends on one’s values, yes?
I worked hard for 40 years and it got me nothing but a living, that could be destroyed on a whim…
In the end, leaving was the solution, because the Ameican dream was ether; the stuff of mythology; and a road to death!
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