February 15, 2012 at 4:48 pm #8626
Detroit Publishing Co. Congress 1908 “South corridor, Library of Congress, Washington, D.C.” It’s hard to miss the irony in the fact that perhaps the
[See the full post at: Political Theater Will Kill the Status Quo]February 15, 2012 at 5:55 pm #757
NOW … you remind me that its bad everywhere and getting worst.
Only the center is allowed to direct the flow of tributes, resources and wealth from the periphery.
The USA has been doing it for 30 years by borrowing from other countries and spending more than it raises in taxes.
For Greece to have done the same thing is not even an idea worth considering.
Those who prefer normal “economic talk” can check out the following by the market ticker.
This is elmementary mathematics, but nobody wants to deal with it.
GDP = C + I + G + (x – i)
GDP = private consumption + gross investment + government spending + (exports − imports)
Now … what happens when “the center“ finally decides that it has been used by the periphery.
1 .Austerity is the punishment for Greece
2. The financing of the spending binge come to a stop.
Russia Dumps Treasurys For 14 Consecutive Months; China Slashes Holdings To Lowest In Over A YearFebruary 15, 2012 at 6:00 pm #758
your comments have been restored, sorry about that!
you shouldn’t have any more spam problems in the futureFebruary 16, 2012 at 12:39 am #760
don’t forget that the “rate of inflation” is also part of the GDP calculation. I put it in quotation marks for the same reason that I would put “Global War on Terror” or “US Healthcare System” or “Compassionate Conservative” in quotation marks.
Because the words commonly used to signify the realities that are signified conceal (or not) some real bullshit that serves the interests of TPTB.
The real rate of inflation, if applied to GDP would have shown anemic growth at best over the last decade or two and would have necessitated some very serious conversations about wages, pensions, and Social Security C.O.L.A.’s.February 16, 2012 at 8:51 am #763
Brent oil price broke the july 2008 record:
we still have to wait for the oil price crash. But I do not care, I do not have a car, right? 🙂
AlexFebruary 16, 2012 at 1:41 pm #764
If you are a proper TAEr you have a religious belief that the financial collapse will happen faster than the hydrocarbon collapse.
Since this sort of reduces to ‘engineers are better at their jobs than financiers are at theirs’ I remain strongly tempted to agree. However, one must recall that the engineers are dealing with Mother Nature, and the financiers with politicians. It is possible to slip something past either referee, but which one is harder?
FrankFebruary 16, 2012 at 4:51 pm #767
Alex Jones has a rather long and interesting interview with Nigel Farage, the iconoclastic, thorn-in-the side UK representative to the European Council. Farage’s take is quite interesting. Recommend you download the file as the interview is interrupted by commercials, which are more easily dealt with on a download than a stream. Can be found at:
and the interview begins at 2:33.27 into the show.February 17, 2012 at 11:06 pm #793
Fagare does put the eurocrats in their place.
He seems especially fond of mr Schulz.
There’s special irony in that despondent soviet anthem, a reminder that central planning just doesn’t work.
This is a good overview of Farage’s foresight.
The geometry of Democracy is a function of Gravity.
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