Debt Rattle October 31 2017

[Raúl Ilargi Meijer]

Salvador Dalí The persistence of memory 1931   • A Monstrous Bubble – The Destroyer Called Amazon (Stockman) • How The Actual Magic Money Tree Wo
[See the full post at: Debt Rattle October 31 2017]

[Dr. D]

Europe is pleased to announce they have re-started open air slave markets in Libya after a 100 year gap. Yes, come one come all and you too can buy a pretty lady on the streets of Tripoli! So proud. Perhaps we should headline with art like this: https://en.wikipedia.org/wiki/The_Slave_Market_(G%C3%A9r%C3%B4me_painting) Winning!

Because sometimes you just can’t say something strongly enough. This is war, people, this is what it means. And as much as Europe applauded, it would be a miracle if one of its prime progenitors, the United States, were to escape as well. We’ll see. As you can tell from the news, it’s pretty toxic to live here already, even in the fairylands of L.A. and N.Y., even back when “Rent” was the sensation.

So Europe: 10 years of 50% unemployment. A few plug numbers in the interest calculator tells me that over 10 years, that would be $450,000 lost wages for even a modest job. That would be your retirement, which, if not compounded early, means you’re now an elderly pauper. Done deal, past tense.

But that’s not all! Fail now and there’s much, much more! No job, no money, no prospects? You win no relationships! No marriages! No children! And now your clock ran out. So sad. We know you don’t care, so how about this: no GDP, no stock market, no home sales, no retail, no arms sales, no cannon fodder for international armies.

You can get back the $450,000 — maybe — but can’t get back those ten years. If you were out at 20 and are now 30 and nothing has happened for you, for your friends, for your country. And that’s the good outcome, the German one. In Greece, Portugal, Spain, Italy, you’ve gone straight down with no hope in sight. How are you going to recover, to get back your time, your life? Are you going to be surprised when patience wears out and nothing they promise works anymore?

And it ain’t very different over here. You think we’re better than Libya? We aren’t in human trafficking? Watch Entertainment Tonight and tell me what you see, how all those people passed through for 25 years and nobody saw a thing. “But Herr Doktor, ve are ze good guys.” Sure, Corey, sure we are.

[Diogenes Shrugged]

“Why do they borrow? Is it for essentials?”

Limits will be eventually reached,
and starving debtors will then be told:
“Sorry, but you already ate that.”

[Nassim]

The demographics of Africa are almost unbelievable. Almost everyone who has the opportunity to do so will try to get out – to Europe. It is inevitable. The ones who made it onto the French or Swedish welfare rolls have told all their relatives and friends. Humans are social animals.

The population of Africa has gone up by 4 times in 50 years. South Africa was majority white in 1900 and today the blacks outnumber the whites by 9 to 1.

The chart below shows why Africa can never replicate the success of East Asia. You simply cannot build schools fast enough and staff them with good teachers.

The article below shows that many Africans have high intelligence – when schooled properly. However, when a child is brought up undernourished or poorly nourished and there is no functioning educational system the child will never perform properly.

The IQ Gap Is No Longer a Black and White Issue

[Nassim]

Here is a relatively neutral look at Mueller’s activities and what probably prompted him to act now:

Is Mueller running scared?

[Patricia]

I agree with the comments about the money tree. As a Government only prints 3% of all money in circulation and Commercial Banks create 97% then there is a lot of leeway for a Government to create more money for the benefit of the people. More bridges, roads, a UBI etc. Commercial Bank creation of money just creates bubbles – we can see that in housing and the stock market while creation of money by the governments helps society as a whole. I have often wondered why there has to be income tax at all though. I have come to the conclusion that originally it was designed as an inequality tax but because of all the exemptions then that now has no effect. If I had my way I would abolish all income tax on incomes under $100,000.00 and tax those above that at a rate of 40% with no exemptions at all.

[Author]

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