Debt Rattle October 17 2018


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    Georgia O’Keeffe Autumn leaves, Lake George 1924   • Fed Minutes May Unlock Details About Jerome Powell’s Ultimate Plan (Y!) • China May Have $6
    [See the full post at: Debt Rattle October 17 2018]

    Dr. D

    “One of the principal lessons of our tragic century, which has seen so many millions of innocent lives sacrificed in schemes to improve the lot of humanity, is—beware intellectuals. Not merely should they be kept away from the levers of power, they should also be objects of particular suspicion when they seek to offer collective advice.” –British historian Paul Johnson

    V. Arnold

    Georgia O’Keeffe Autumn leaves
    I particularly like the upper left of center leaf showing its transition from green to the rich reds of a northeastern autum. Fall was a most spectacular time of year…

    Dr. D
    Yours is an interesting post. I may revisit it after some thought…

    Dr. D

    Speaking of…

    • On Theresa May, Danny DeVito and ‘Other People’s Money’ (Pettifor)

    That is indeed the Keynesian belief, and therefore the model of nearly all expert economists. There’s three problems though: one is that Keynes himself moved away from this at the end of his career, two, it doesn’t work and has displayed paradoxes inexplicable to these same “experts”, who never bothered to solve or address them since 1972, and three, the same thing I say every time: you can print all the money you want, but that doesn’t make wealth. Wealth only comes from hard work, which economists, having never done any work in their god-forsaken lives, can’t seem to understand. So yes, under the present rules, you CAN print all the money you want, and Argentina, Zimbabwe, and Venezuela do. However, there are consequences.

    And P.S. don’t blow smoke up the nether side about how no one pays taxes. If that’s true, they’d stop taxing altogether, when in reality these self-same Keynesian economists always want to infinitely RAISE taxes, to 90% or more, and call tax-reduction Neanderthal voodoo regressive economics. Genius Armstrong does indeed say the governments should simply stop lying about taxes and tax the nation via inflation, and while that’s a good idea, it would highlight how inflation is the most regressive tax possible, hurting exclusively the poorest and the outsiders, and exclusively increasing the wealth disparity and concentration of power. …Which is why billionaires, governments, and their paid handmaidens, Keynesian economists, advocate it. University experts always have a new reason to suck up to power and kill a few million poor, just as Paul Johnson says.

    The system as it runs pays interest to private cartels and billionaires on the people’s own money, and the tax receipts are the collateral for that loan that is an unnecessary overhead expense. Ultimately, all governments default on all loans, generally via a catastrophic war that kills millions, as Adam Smith noted in 1775. 9 out of 10 Keynesian experts approve.

    I never thought I’d see these progressives–who begged for a central bank and taxing–flip and promote tax cut and stimulus of Ronald Reagan, but why not? It might be the least crazy thing I’ve read this week. If you really want to be progressive, stop paying 1/3 of the people’s money in interest to insider billionaires and business cartels, who then turn around and buy Parliament, and adopt Hamilton’s “American Plan” where the government issues money directly, without a private bank.

    But I jest. Clearly they will advocate paying that 1/3rd to RBS and Lloyd’s and cut the National Health. Because that’s what they’ve already done, past-tense.

    Dr. D

    Also from ‘experts’ “helping’:

    • UK Restaurants And Cafes Throw Out 320 Million Fresh Meals A Year (G.)

    Helping! Helping so much!!! This is the consequence of very tight food inspection and safety laws. They require that all non-perfect food be removed. The next edition of ‘helping’ were tort lawyers, who, if you give 2nds away, will then turn around and sue you to penury because that disposed, clearly substandard food was not perfect, when obviously it wouldn’t be given away if it were prime. So their greed, and that of a few sue-happy clients hold society hostage, unable to do rational, reasonable, efficient things. Why? Because it’s all enforced by government with extreme violence. How about being driven out of business, jailed and bankrupted for a bagel? Amish family-SWAT teamed for selling milk? Government knows no limit and no reason. As Washington said, Government is not reason, it is not eloquence — it is force. Like fire it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action.” …Which we tell it to do now for 90% of what it does, and wonder why things go wrong.

    So thanks to 100 years of helping, food is ever-expensive, completely wasted, irrationally produced, and expensively disposed. This hurts the poor, not the rich. The business owners, who might get some pittance for it, now get nothing. And this is the same with building codes, housing, everything. It’s required by law to be perfect, or else we come down on *the poor* with a hammer and confiscate it all. Used to be if you were poor, you’d shack up at a flop house down by the pier. However, the flop house had unsavory — dare I say, poor — people living there, and the structure wasn’t as safe as a mansion on the hill — no duh, eh? So “for the good of the poor” because the ‘experts’ cared so very, very much, they raised their pay, kidding, the mansions on the hill outlawed boarding houses and forced all those patrons into their hotels and tenements. …From pure charity, of course.

    So the poor are in better, safer houses, what’s the loss? The harm, besides that all the income rotates to the rich and away from modest widows renting a spare room, is that you’ve now engineered a chasm between rich and poor, guarded by force of law. If you wash ashore, homeless, addicted, at the bottom rung, you cannot get a job, a room, a second rate meal and work your way with upward mobility. You need a credit check, first and last month’s security for room and utilities, are required by law to have electric and phone, you must pay full price for all food, a suit and phone for job interviews, and you can’t work on the fly until you have these things. Thanks to their most profitable ‘help’, the gap between homelessness and the worst conditions are something like $2,500 cash, paid today. Because they’ve “helped” the poor out of all upward mobility, they then have to solve the problem they just created by creating a welfare system that will use taxpayer’s money to then pay the utility company and private landlord, with all the delay and waste this creates — 60% of all funds taken, by some audits. This money, taken from the poor, is then ultra-regressively given to the landlords and mansion on the hill, whereby we either have socialism, or its twin brother fascism, the merging of government and private interests, in one big happy circle jerk, jerking off the poor, who now live in cardboard boxes under a bridge in DesMoines instead of an “unsafe” boarding house run by Mrs. Muir.

    “Helping”, in today’s article, by sending to landfills 320 Million high-quality meals, while Britain’s children are white with hunger. But I’m sure, if we help just a little bit more, a little harder, with a few more taxes and a little more government regulation, it’ll work out this time.

    “the principal lessons of our tragic century… is—beware intellectuals.”


    What they will not teach you.

    Humans have found creative ways to be predators.

    • Sears Didn’t ‘Die.’ Vulture Capitalists Killed It. (Kuttner)


    • UK Restaurants And Cafes Throw Out 320 Million Fresh Meals A Year (G.)

    During WW2 in Britain, food rationing led to it being made illegal to feed human food to wild animals. Also, and this is highly relevant to today, grocers were required to source their bulk food supplies from as near as possible to save transport and fuel. Hey, maybe we should declare war and implement all of these rationing systems again! That would solve a lot of problems!

    (Fascinating history: )

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