Debt Rattle September 22 2022
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Non sequitur:
I read an article 10+ yrs ago about carbon composite ‘dog hair’ structures 3m tall that were piezo generators. They were installed in an open area with high winds. The flex in the material would stress the structure and generate the differential. Some 10 years before that, I’d read something (by L. Niven, IIRC) about huge piezo cables that could be strung axially in orbit of a planet or a sun, and the tide would stretch them and generate differential.
Note to Germany (and warning to the rest of us):
If you still have water pressure, and some useless car batteries and alternators and fuel tanks, you can have some electricity. I’d recommend using it to run a small freezer. Let’s hope Schwab’s buddies aren’t working on bobbles.
Someone was foolish enough to ask me what I think. Well, (mumbles)….
The WEF has lost its moorings. I do believe the West will again find its real moorings. (Nothing to do with the WEF, of course.)
Behold the level of bullshite propaganda from the 1950’s.
Craptastic!
We can’t even master a self-driving car, I think my flying car will take a while longer
Today marks a very sad day.
The time of wearing shorts and crocs has come to an inglorious brutal uick end up here in the land of snow and igloos.‘Economists forecast a drop in GDP in 2023 : 1% in Germany and 0.5% in the UK!!!!? My guesstimate would be 10% to 30%!’
Never forget that GDP is an entirely fake measure of economic activity, an Orwellian distortion of the original meaning of economics -prudent use of resources. Kusnets would be turning in his grave if he witnessed the bullshit that passes for economic measurement these days.
Since GDP measure destruction as positive, it naturally follows that falling GDP is a very good thing -unless you are one of the thousands of mainstream phony economists who infest the halls of NATOstan nations.
https://www.investopedia.com/terms/g/gpi.asp
And don’t forget that all the numbers presented by NATOstan governments are either fudged or fabricated.
As well as living in The Age of Consequences, we also live in The Age of Fakery.
@Boscohorowitz: Singing-In-Tongues …
Hiding Hunter Biden inappropriate behavior is a walk in the park.
Look at what UN is doing about Ukrainehttps://www.rt.com/russia/563352-lavrov-un-ukraine-impunity/
Lavrov puts spotlight on ‘impunity’ in Ukraine
For years the West turned a blind eye to transgressions by the regime in Kiev, the Russian FM told the UNThe current crisis in Ukraine was brought about by the West systematically covering up the crimes of political leaders in Kiev since the 2014 Maidan coup, the Russian Foreign Minister told the UN Security Council on Thursday.
Sergey Lavrov noted that “impunity” is a good term for what has been happening in Ukraine, not since February but since 2014, when US-backed nationalists and neo-Nazis overthrew the democratically elected government by force. No one has ever been held responsible for the murders on the Maidan, the burning of peaceful protesters in Odessa, or the assassinations of dissidents, he pointed out.
Meanwhile, civilians in Donbass have been bombed mercilessly for years and dubbed terrorists and even subhuman, simply for refusing to accept the results of the coup and insisting on their basic human right to speak Russian, Lavrov continued.
Ukraine has finally turned into a Nazi totalitarian state.
The Russian foreign minister presented a long list of human rights violations by Kiev that went ignored by various European and global human rights groups, from “burning books, just like in Nazi Germany” to using banned ‘petal’ land mines against civilians this summer.
“Such outrages became possible and remain unpunished due to the fact that the US and its allies, with the connivance of international human rights institutions, have been systematically covering up the crimes of the Kiev regime for eight years, basing their policy towards [Ukrainian President Vladimir] Zelensky based on the well-known American principle: he may be a son of a b*tch, but he is our son of a b*tch,” said Lavrov.
This was a reference to an apocryphal quote attributed to President Franklin Delano Roosevelt, and thought to apply either to Anastasio Somoza of Nicaragua or Rafael Trujillo of the Dominican Republic – both US-backed dictators.
Lavrov also accused the Ukrainian armed forces of using civilians as human shields and said that Russia and the Donbass republics are fighting against the “Western military machine” in Ukraine, with the US and its allies perilously close to being overt participants in the conflict.
Moscow has shared evidence demonstrating that the West has sought to turn Ukraine into a forward outpost that could threaten Russia’s security, Lavrov told the UN. “I can assure you, we will not let that happen.”
Interesting. Since natural gas is needed to manufacture glass, the surge in gas prices will manifest as a shortage of glass, and much higher prices for glass (on top of the devaluation of fiat money by central banks aspect).
And to even further complicate matters (beyond the overwhelming task of juggling infinite probabilities) is the probability that if the bad guys have taken notice then the good guys have probably taken notice, too.
‘European Union ministers agreed to push ahead with new sanctions targeting Russia at an informal meeting on Wednesday, the bloc’s foreign policy chief said, hours after President Vladimir Putin ordered the first wartime mobilization since World War Two.’
One consideration, which pertains to prisoner-swap deal now being arranged, is that Russia does not have a death penalty, so when Donetsk and Lugansk join Russia, that excludes executions for war-crimes.
Dr D said
Yes, but it’s the NEJM, so no one believes them. Or shouldn’t, their own editor said there’s no longer a scrap of science between the covers. Kind of kidding though: Schrodinger’s Reality, like everything else, we believe a la carte: when they say one thing it’s true and real, when they print the opposite the next day they are stupid and false. Both sides are happy with this, and both point to the Rag as the “Appeal to Authority” the logical ‘fallacy’, as in “fallacious” “false”, “fake”, “wrong.” Maybe if we stop appealing to authority and think for ourselves this can stop but not ‘til then.
Exactly. People still use discredited authority to back up their arguments when it suits, revealing the lack of real evidence for their own beliefs.
Pennsylvania County Sues Dominion Voting Systems Over ‘Severe Anomalies’ In 2020 Election
https://www.zerohedge.com/political/pennsylvania-county-sues-dominion-voting-systems-over-severe-anomalies-2020-electionMy story is better than the propaganda.
Long line of car by rich Russians going shopping in Finland for special items that are in short supply.
Rich Russia overwhelmed the airport by going on holidays.I had to chuckle when I read this because the Adern government -that has gone to extraordinary lengths to prop up the business sector at the expense of everyone else- now gets a ‘bad report’.
‘Worst Govt since Muldoon’: Ardern, Robertson blasted by business leaders in CEO survey
Jacinda Ardern and Grant Robertson have received savage report cards from New Zealand’s business sector in a survey that dates back two decades.
The annual NZ Herald Mood of the Boardroom survey of more than 100 business directors and chief executives showed Ardern’s overall performance as Prime Minister was 2.54/10 – down from 3.03 last year.
So, the current 25% approval will presumably go to 15% or 10% in a month or two, after a bit more reality has demolished a bit more of the propaganda machine that keeps Adern in power.
(By the way, I am thoroughly sick of the blue-and-yellow flags that adorn everything mainstream.)
In case others are not aware, Muldoon was the vicious dictator who drove NZ into a ditch in the early 1980s. The transnational banks, global corporations and local opportunists loved what he did.
NZ dollar hit 42 cents US shortly after Muldoon left the crime scene and the next gang of liars and thieves took over.
At the current 58 cents US (down from 72), we still have a fair way to fall.
Apparently collapse will be good for our terms of trade.
But there are many hundreds of thousands (millions?) of the ‘walking dead’ who have had their immune systems severely compromised by the jabs that Adern was so keen to have injected into everyone.
Surely mass die-off won’t be good for business, will it?
The outcry over the prisoner swap cracks me up. These are people, soldiers, not Pokemon cards. Russian blogosphere is as arrogant and bloodthirsty as any.
The games of ideology let monsters dance along-
No matter what you’ve been, you’re in if you can mouth the song.Interest.co. nz. tells us this today.
‘IT’S TOUGH IN CHINA’S RICE BOWL
In China the major rise growing regions of Jiangxi and Hunan are in an extended and growing drought situation that is getting very serious. They haven’t had any rain in more than 70 days. More than 95% of Jiangxi is in a “very severe” situation. This drought will have serious repercussions for China, and global food demand, especially for rise. (And don’t forget, India now has export bans for many types of rice too. The Western US can’t supply at present due to weather issues. Australia is one source with excellent growing conditions this year.)EQUITIES SELL OFF FURTHER
Wall Street ended lower today with the S&P500 shedding -0.8% to take its weekly drop so far to -3.0%. Tokyo is on holiday today (Autumnal Equinox) so it ended its very short week down -1.5%. Hong Kong is down-0.7% in morning trade and heading for a -3.6% weekly retreat. Shanghai is down -0.9% today and heading for a -1.3% weekly fall. The ASX200 is back trading today (although I am sure many there have made it a 4-day weekend). It is down -1.8% in afternoon trade today, heading for a -3.8% weekly dump. The NZX50 is down -0.9% today and heading for a -1.4% weekly fall. Investors will want to see the back of this week asap, I am sure. Today’s NZX50 losses are led by A2 Milk (ATM, #9), down -4.1%, and Fisher & Paykel Healthcare (FPH, #1), down -2.8%. There are other majors down about -2% today. Keeping the fall from being a rout are a wide range of smaller companies.’All the talk of ‘impressive gains’ that was the fairly-recent norm has evaporated rather quickly.
Mister Roboto said:
the fact that the world’s arable land was already fully dedicated to the task of feeding the world’s huge present-day population
Arable land is defined in the dictionary as the land that could be used to farm crops, however, it is often used by government statisticians to mean the land that is normally used as farmed land to produce crops. The majority of land on the earth that could be arable land is NOT being used as arable land, it is NOT farmed and is NOT used to produce food. We are using about a third of the earth’s food producing capacity, in terms of potential arable land. I am not advocating cutting down rain forests to plant more crops, just trying to prune the looney left factor.
There are very good reasons for the fear, anxiety, and animosity between commenters.
Ronald Reagan, Mikhail Gorbachev and détente ended Nuclear Brinkmanship in the 1980s. It is back. Either Ukraine stands down or Russian tactical nuclear weapons will be used to stop the counteroffensive into Donbas.
The reasons for the current situation are myriad. Besides being bombarded with big lie propaganda, real or imaginary pandemics, my main explanation for the current unrest is that capitalism has gone nuts in the West. Cheap energy is disappearing. Basically, western plutocrats are rolling the dice, one more time, to see if they can gain control of Russia’s energy and resources. If they don’t start a global nuclear war and if they don’t get cheap sources of energy, a never ending economic Depression starts this winter.
Mr. House said
Another thing: What’s with you guys? Why is everyone at everyone else’s throat?
Today’s political policies will have, maybe already having, a large impact on all of us. Some commenters support some of the policies that will impose poverty on other commenters. Why wouldn’t they fight?
VietnamVet said
capitalism has gone nuts in the West
Really? And where is this capitalism? The USA has gone fascist, led by the DNC, Europe has gone fascist led by the EU, so where is this capitalism? The corporate-government marriage was overtly declared by the EUA given to the Covid vaccine and the subsequent mandates. Now the US justice department and FBI are overtly helping the deep state to bias the US election against Trump. How has any of this got anything to do with capitalism?
The real problem with discussions about capitalism is that most people have forgotten (or didn’t even know) that most actual capital disappeared into vaults in the seventeenth and eighteenth centuries, and what has passed for capital since those times has largely been promissory notes.
“I promise to pay the bearer on demand the sum of one pound” [of gold].
Well, once the banksters began issuing more promissory notes that the actual gold in their vaults that could redeem those promissory notes, a kind of ‘diluted capitalism’ came into being.
Once ‘tricky-dicky’ Nixon ‘closed the gold window’ in 1971, i.e. no redemption of promissory notes (e.g. US Treasury Bonds) at all the ‘diluted capitalism’ that existed from the 1690s till just over halfway through the twentieth century was morphed into ‘totally Ponzi capitalism’.
Once I-can’t-keep-my-dick in-my-pants Clinton took the next step by repealing the Glass-Steagall in 1997 -allowing banksters to engage in non-banking activities- ‘totally Ponzi capitalism’ morphed into ‘off-the-planet-surreal capitalism’.
https://www.investopedia.com/articles/03/071603.asp
I have an old bike and no money, so I go to a bike shop and use my old bike as a deposit on a new one, and take out a loan for the difference.
I take the new bike to a motorcycle dealer and use it as a deposit on a brand new motorcycle, and take out a loan for the difference.
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I take the new motorcycle to a car dealer and use it as a deposit on a new car, and take out a loan for the difference.I take the new car to a real estate agent and use it as a deposit on a house, and take out a loan for the difference.
As the owner of a house, I go to a boatyard and choose a superyacht, using my house as collateral.
As long as interest rates are at zero or close to zero (or in the case of some European nations not long ago, negative) I have no problems.
Okay, there could be a problem if I want to turn the lights on in the house or buy fuel for the superyacht.
It things turn a bit nasty, I declare myself bankrupt and quickly move to another country, and start again.
I recommend that anyone who has not seen ‘Margin Call’ do so. I won’t say it’s all there, but a lot of it is.
Correction
Well, once the banksters began issuing more promissory notes than the actual gold in their vaults that could redeem those promissory notes,
Margin Call
I would be hesitant to blame on geopolitical anxiety any perceived sense of elevated tension among TAE discussants. People cut throats daily on Youtube comment threads over the silliest things, and we are people.
Rainforest is not arable land until it is turned into arable land. NYC is quite arable if you remove an entire city, remove the toxins it put into the soil and water, and work the soil into farmable land. In practical terms that will feed people during this decade this remains true:
“…the world’s arable land was already fully dedicated to the task of feeding the world’s huge present-day population.”
Meanwhile, said arable land is fastly eroding into the oceans and being turned into sand-plus-chemical fertilizers.
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