I read the news today, oh boy
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Hieronymus Bosch Ascent of the Blessed c1510 Reading the news on America should scare everyone, and every day, but it doesn’t. We’re immune, la
[See the full post at: I read the news today, oh boy]“In 1968 Americans paid 7% of their disposable income for a house. Today that’s 23%.”
Is that actually what it takes to own the house outright or just what people pay on mortgages regardless of whether they ever pay it off fully? I’m reading a very useful book called Little House on a Small Planet in which the author notes that in 1929 (pre-Crash) Better Homes and Gardens magazine warned people to not take on a more than 5-year mortgage. She later notes that even though valuations rose over recent decades, equity didn’t. We’re not in black & white Kansas anymore. It’s the peak complacency (which is your piece in a nutshell) of La La Land.
Ilargi,
The healthcare bill won’t pass because it’s a horrible bill. Both ObamaCare and TrumpCare will do nothing to address the underlying issues of affordability and cost control. Recently a bill to allow importation of cheaper drugs from Canada was defeated with just enough Democrats voting against it and just enough Republican senators voting for it to make it look legitimate. This whole legislative mess is a result of massive, systemic corruption and is a certain sign of our dying empire.
I’m living in La la Land
I’m living in a systematic corrupt socio/economic system
Yesterday is gone.Only at the quantum level can time and space be interchanged.
Someone once said that in the end, the last shall be first .
If so, I expect to be among the last.
Excellent. And please a nice scary article soon about the bond bubble, especially the sovereign debt bond bubble….Will prudent savers play catch-up just a bit from having safe liquid cash or will their emaciated remains be sacrificed on the altar of financial occultism? Debt that can’t be repaid won’t be repaid. Unless we truly live in a “new world” that means default, deflation and depression… surely the biggest write-off of all time.
Thank you Ilargi for condensing everything into this post. I saw all the articles that you reference by themselves but I did not, or perhaps did not want to, realize the severity. This is going to be an epic debt deflation.
You give far too much credit to the people who gather under the Republican brand today. As an Eisenhower Republican, now 70, I’ve had no home for decades. Instead of being fiscally responsible in the 1980s, both parties concluded debt was not a problem – we just owe it to ourselves. Just add it to Korean, Vietnam & other Cold War debt. No end of history benefit with collapse of Soviet Union or recognition that it would have been smarter to promote democracy, even if it led to social programs, rather than fight communism. Communism did not allow religion, democracy is freedom of religion. Not much of a contest for a thinking person.
9-11 was attributed to “failure of intelligence”. On reflection, that is a widespread circumstance in this modern information age. Thoughtfulness which renders wisdom from information and experience has very little space in the world where brand is the simple heuristic one is taught to use to make effortless decisions. Brand’s are herds. Safety in numbers taking a evolutionary modification in the laboratory of mental environment manipulation.
There is safety in the brand because mistakes are always survivable because loyalty to the brand means, like the 1970s book & movie “Love Story”, “Never having to say you are sorry”. The Brand Herd is always together, someone proving the perspective to make any event right, including dispensations.”
While the military strategy is divide and conquer, the banal reality is that the divided are already conquered.
As a long time reader of TAE, I consider it a daily necessity – a dose of fine art or historic photography, plus bad news.
I’m amazed at how many new media pundits who still expect The Apprentice to grow into his job when it is clear that his claims of having a smart brain in the interview process have turned out to be without substance in reality, since the experience in business is being shown to be not transferable. Businesses are not democratic. Votes are not equal, but based on shares and wealth. Boss always right.
In the beginning of the Trump candidacy I felt the disruption would be good. Brand mentality is the real challenge I now see. The debt sins it obscures, decades of it, keep arguments going as soundbites in the news cycle, while the real problem of no new resources and the high maintenance costs of bad investments, military as opposed to citizen services, goes unrecognized.
While the wise prepare for the precipitous end of the Golden Age of Debt, the future of its repayment is clear. It just can’t be done. Consumed too much of the future with little to show for it other than a high maintenance built-enviroment within a damaged and depleted natural environment.
The Brands battle is a spectacle. I don’t know what the solutions will be, but am certain it will come from communities seeking to perpetuate themselves, operating from the community motive.
Yet, people around me still think this party can continue on and on indefinitely. They buy ‘payments’ for not only houses, but new cars, furniture, appliances, smartphones, and everything else is bought with credit cards. It is unimaginable the epic boom that will occur when these bubbles finally find the pins and burst.
I was famous yesterday, for doing what I always do, bike commute and grow vegetables. This story is about the vegetable garden I put in at the clinic where I work, in the break patio area.
https://digital.olivesoftware.com/Olive/ODN/AustinAmericanStatesman/shared/ShowArticle.aspx?doc=AAS/2017/07/17&entity=Ar04301&sk=8B81855C
Do what you can do… daily.In Australia, a country in a hurry to rejoin the 3rd world, the Bureau of Meteorology is removing any temperature below -10C (14F) from the record.
Bureau Still Limiting Cooling to Minus 10 Degrees
When the real temperature does not do what the models tell it to do, we have to change the real temperature. Problem fixed.
Dr Day, thank you for sharing your article about your garden at work and your blog that you posted previously about your rotational garden at home.
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