Debt Rattle September 3 2019
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Pablo Picasso Head of a woman 1939 • Resurrecting the American Economy With Stalinism 2.0 (Dmitry Orlov) • Use Old Chinese Debt To Default On B
[See the full post at: Debt Rattle September 3 2019]In these difficult times, the UK press asks the hard-hitting questions:
LOL; 5555555
In Thai, the number 5 is pronounced, Ha.“Resurrecting the American Economy with Stalinism 2.0 (Dmitry Orlov)”
Certainly was interesting, but his plan to save America is to surrender everything America ever stood for? Sort of “bomb the town to save the town” plan? Newsflash, Dmitry: America is ALREADY a Centrally-planned Socialist state, and like them, it has astonishing hypocrisy and mind-bending income disparity equaling that of China and the USSR. How does that happen? Exclusively BECAUSE of the merger of corporation and state in service of the insider party members. Go look: who are the top corporations, billionaires? Bezos, protected monopoly; Rockefellers, protected monopoly with tax incentives; Zuckerberg, protected monopoly; Gates, protected monopoly; Lockheed, protected monopoly merged with government; Halliburton, same; Sachs, Fargo, et al, protected monopoly with $23Trillion bailout. On and on and on.
I don’t know what Orlov wants, what he asks for already exists and it’s going as well as it ever has in history: i.e. badly. If anything, it’s China that’s imitating us with a fake capitalism and unlimited insider money handouts with fake regulation that really flow according to your golf partners. What’s making Russia work again – and considering the Russian disposition is toward authoritarianism – is that it is becoming capitalist, with fairer rules appearing slowly, slowly, every day, and hard work being distributed to the workers in a thing called a “paycheck” slowly slowly every day. Unlike us, where a cumulative UBI has a socialist check going to +50% of the nation.
“There is also China’s “nuclear” option of dumping US Treasuries.”
They already essentially did this. Twice. First to dump Fannie Mae into Treasuries, crashing our market, second to very short-term Treasuries, covered in Operation Twist. We printed up $23T in Fed money, quasi-public, and $20T in dark money, found squirrelled away in various Federal Department accounting frauds, as for 50+ years. (and probably a lot more, in cash pallets to Iran, and off-book fake bonds) So the U.S., like the blob, ate everything thrown at it without much trouble. The other Treasuries are a joke, as China may ‘own” them, but are owed to pay for, say, chromium on deliver in 2050 from Eastern Africa, now that China has built their railroad. Since that’s the contract, it’s not China’s fault that Zaire wanted delivery-of-payment in T-bills, and those T-Bills are worthless in a U.S. default. So those are already earmarked and thus not really “Chinese.”
He is right about the reverse, though. The U.S. is an Anglo, and the Anglos never, ever keep their word: ask anyone. They might try counter-defaulting, and when we stole all U.S. holdings, China would leap out and take the whole Pacific rim instead. What would the U.S. do, occupy it? Don’t make me laugh. We can’t occupy Afghanistan after bombing it into the stone age. We can’t even control Baltimore, same.
“ECB Official Mersch Calls Facebook’s Libra ‘Treacherous’ (MW)”
He’s just jealous that Libra is more crooked than he is. Maybe. Mersch and his banks set a high bar.
“Rebel Tories and Labour MPs are planning a bill to stop the UK leaving the EU on 31 October without a deal.”
Ah, fighting democracy wherever it goes. “We shall fight against Democracy on the beaches, we shall prevent Democracy in the air…we shall always, always fight democracy, and do what our wealthy contributors ask us, slavishly, and without hesitation.”
“Brexit is – will be hard, complex and lengthy. How, seriously, after more than three years can so much of our political elite still be in denial”
The Westminster and the MPs may be in denial, but the people aren’t, so speak for yourselves. Besides, Greece, Italy, and Catalonia have already been leaving, Britain is just the fourth, fifth, or 28th agitating to leave. Scotland will stay though. Ah, Scotland. Like clockwork.
Anyway, I don’t think there’s anyone who thinks it’s easy except politicians fighting strawmen, just as no one thought WWII would be easy. Just that IT’S WORTH IT for Britain to continue to exist.
“Ahead of Brexit, UK Factories Go Quiet (R.)”
Exactly as expected by everyone, except for insiders disingenuously fighting strawmen. There will be a recession. But for everyone outside of Greater London, there already is one, and has been for Dickensean decades. The people just want Westminster to join the party, the fun they arranged for everyone else lo these many years! After that, there is reason to believe it’s exactly the diminuation of trade that Rogers describes is what will bring jobs back. And independence, as Britain again becomes mildly more self-sufficient. That Rogers want to STOP that, stop you from having a job because it would cost a dollar at Tesco, is all you need to know.
“…the RussiaGate ploy alerted Americans that there truly is a Deep State with its own self-winding agenda.”
Speaking of those who would destroy every worker in the country because it might cost a dollar. But I’m too generous to them: really they’d do it for free! And have, every day of my life.
“Who can stand in the way/When there’s a dollar to be made” –Midnight Oil
“Jeffrey Epstein’s Model-Scouting Pal Has ‘Disappeared Without a Trace’ (NYP)”
I’m not a genius, but considering he’s best friends and co-worker of Ms. Maxwell, I’d try a small country on the coast of the eastern Mediterranean.
“It’s not just me. It’s much wider. It’s all of us. It’s all journalists, and all publishers who do their job who are in danger.”
Of course, they’re always projecting defeat and surrender with every line they write. Why not believe you’re going to win, free press will be restored, and Assange will retire a hero? Is there something to be gained by assuming your inevitable loss?
Now why would I say that? Because “It’s not just me, it’s all of us.” That is, Assange’s position must win, because free speech must win. To think otherwise means we must fall into a Stalinist authoritarian regime forever. For if we did, there would STILL be resistance. So it’s not Assange on the line here: It’s YOU. You’re next. And that means the enemy of Assange is the enemy of us all, so there is no chance of us NOT fighting them, on his behalf and our own. There is no chance of us not winning. Fighting as if you’ve lost is what’s taking so long.
…the border between Sweden and Norway, one in the EU, the other out of it but wanting to remain much closer ‘in’ to EU institutional and legal frameworks (Single Market, Schengen) than our [UK] government, is a hard border.
What this existing “hard border” entails:
“Both countries are members of the Schengen Area, and there are therefore no immigration controls.”
“[Customs] checks are sporadic along the Norway–Sweden border. Cars are usually not forced to stop.”
“To combat drug smuggling, the use of CCTV surveillance has recently been increased, with systems using Automatic number plate recognition…”
“For flights and ferries between the two countries, there are no formal passport checks at airport and ferry ports, but identity cards are needed to board.”
Forgot to include this detail about that hard border between Sweden and Norway:
In addition to the 10 cross-border roads listed with custom control stations,
“There are around 30 more roads crossing the border, without customs station (most notably E16), but they are not allowed to use if having goods needing declaration. Heavy trucks can be allowed to use them by pre-declaration. They are surveilled by video and temporary checks.”laughed out loud at the Orlov piece. i watched an RT video of the Chinese contractors building a four lane highway at 17 000ft through the Karakorum mountains in the most gruelling conditions imaginable from Tibet to Pakistan as part of the new silk road. They work 12 hours a day with one day off a month. That’s why we’re toast. no American would do that. they would expect to be flown home stateside every three months for several weeks leave on a project like that. they’re hungry and we are fat and lazy. and there’s over a billion of them. duh. get used to it. it’s bread and circuses time.
Not much to say today as Dr. D made all of the correct observations, IMO. Maybe that “corpse” that they wheeled out of the NYC holding prison was Brunel; that would have been consistent with occultist Deep State humor and been good for quite a few belly laughs among the insiders. I am not quite as pessimistic as Mr. Alban (“That’s why we’re toast. no American would do that.”). Americans just need to feel enough pain. Once they’ve had reality forced upon them for a few months or years, maybe they will fall into more productive habits and lose their addiction to the “good times”.
Sept. 3, 2019. An interesting day. The British Parliament seized control. Perhaps chaos has been put off there a little longer. Northern Bahamas Islands were leveled by Hurricane Dorian. Only cars, shredded palm trees and water are left. Dimitri Orlov has the symptoms right but not the cure. Mankind can only survive by cooperating and downsizing. Unaddressed; climate change, inequality and/or nuclear weapons will eliminate humanity. A middle-class revolt is unsurvivable in the nuclear age. The only way out for the United States is to restore the Constitution and the rule of law for everyone. Jail the corrupt wealthy criminals including Boeing executives who killed 346 people. Rebuild international alliances. End the voluntary army, close the revolving door and clean up the intelligence community. Provide free education and health care. Learn to live with less energy.
Dr. D you point out the vast and destructive monopolies but you don’t mention what Marx noted which is that monopolies are the end state of capitalism. If this is the case then how can pure capitalism be the cure to our ills? I do not share your disdain for social subsidies nor do I look so highly on people working for a paycheque. People contribute to society in many ways not all of which can be translated into a paycheque
sumac.carol
Good points all. Especially:
People contribute to society in many ways not all of which can be translated into a paycheque.
re the Orlov piece. the Amish hold the key. the US can deindustrialize and return to a rural agrarian economy, as Thomas Jefferson wanted. he saw the destructive effects of wage labor in Europe and wanted none of it. there is plenty of unused farming land in the US. set up Amish training camps to teach people how to do it. there would be no unemployment or homelessness under such a system. shut down the motor industry, since Amish don’t use cars, shut down the power stations since they don’t use electricity, shut down the high schools and colleges since they leave school at eighth grade, close the jails since there would be no crime, shut down Hollywood with its corrupting movies since they don’t watch such things, shut down the TV stations with all their propaganda. shut down the legal industry since they don’t use lawyers, shut down the military since they don’t serve in the armed services.
there are 300 000 Amish at present and they double every 20 years. at that growth rate plus any new pseudo Amish from training programs they will be a significant percentage of the US population within a hundred years. nearly all problems could be solved with this approach.
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