jal
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A few words can go a long way.
I’m suggesting we act and behave as ethically as we can without taking any of it too seriously – Row row row your boat, gently down the stream, merrily merrily merrily merrily, life is but a dream.
B)
Here is the key phrase that is being kept out of the discussion.
… mutually assured destruction…
The Greeks have a bigger gun that the EU
They really think they can reject austerity and stay in the Euro. And you know, given the mutually assured destruction Europe faces, they might just be right.
Here is the key phrase that is being kept out of the discussion.
… mutually assured destruction…
The Greeks have a bigger gun that the EU
Ambrose is allegedly of the mind that there is NOTHING worse than a break-up of the EU, so therefore the Europeans must now relinquish their sovereignty and their freedoms to elite bankers, politicians and bureaucrats for all of eternity. He admits that the Germans were placed into this position “without their permission”, but then goes on to argue that they must accept their “fate” anyway. He also seems to think that his initial outcries against the EMU now justify his reckless suggestions to take the experiment to its logical extreme, which is, in fact, very EXTREME.
Please don’t listen to this nonsense from Ambrose. He is wrong, wrong, wrong – a million times over. There are other alternatives to full-fledged subjugation and destitution for the European people, and no one is saying that these alternatives will not come at a heavy cost. They will be very costly to the European people, but they will also be COSTLY for the malicious European bankers and politicians who have forced everyone else into this dreadful situation.
Its not all black and white.
There will be changes.
All countries have some form of Equalization programs within their borders.
This will be a big change for EU.
hehehe
A country being relegated to the status of a “Province”.https://en.wikipedia.org/wiki/Equalization_payments_in_Canada
Equalization payments are cash payments made in some federal systems of government from the federal government to subnational governments with the objective of offsetting differences in available revenue or in the cost of providing services.
They are generally calculated based on the magnitude of the subnational “fiscal gap”: essentially the difference between fiscal need and fiscal capacity. Fiscal capacity and fiscal need are not equivalent to measures of fiscal revenue and expenditure, as making them so would induce perverse incentives to subnational governments to reduce fiscal effort.If you still recognize this world as the one from ten years ago, then you just aren’t looking at it hard enough.
Yesterday died on 09/11.
…. then the nightmares started.
…. I cannot wake up
geeees … maybe I was in a drugged sleep until 09/11
This reality shit stinks!
I am sure that forms of this discussion have happened in the past and has been reduced to simple saying of wisdom. You can find them in all the “holy books” from around the world.
The messages have been forgotten, basterdized, and twisted and ignored.
You will not need to re-invent the wheel.
… there may be a whole lot more to come.
Quite true.
Your speculation should also include the fact that someone(s) planned all of this.
That is probably why Dimon had to make the announcement and blame it on incompetence. In other words, foreseen that they were being set up and prevented it from happening.
The initial attack was planned and cost them $2B.
In a debt economy, which you would all agree that we have, Those who are not taking on debts, are enemy of the state, unless you are part of the 01%.
A $10,000 financial transaction by an individual, is to be reported to the gov. to control “money laundering”. Of course, unless companies are considered “individuals”, companies will not be subject to the same scrutiny.
I seem to remember that the supreme court decided that companies are to have the same rights as an individual. Does that include charges for money laundering.The Greeks have spoken …. They have been listening ….
exactly as the bloggers have been urging.
“Let the bankers eat their bad investments and go to hell.”
There is no more blood to be had from the people of Greece.
Talk Talk Talk! Blah Blah Blah!
HOW?
Easy.
Get the big fishes in the little ponds to lead the movement.🙂
Your local businesses, well-to-do professional middle class that are depending on YOUR cash flow/spending are going to be the biggest losers with the reset.
Have they gotten on board to change the present system in other countries, (Greece, Ireland, Spain etc.)?
If those smart people keep their head buried in the sand then you can see that the task is going to be enormous for ie. Canadians to prevent their fall.
One cannot, for example, overestimate just how psychologically committed we are to the context into which we are born and have lived.
…
Nicole Foss: “Fortunately, other strategies exist beyond attempting to preserve the unpreservable. What we must do is to decentralize – to build parallel systems to deliver the most basic goods and services in ways that are simple, cheap and responsive to rapidly changing circumstances.”… that a lot of different things have to go right for them to abandon the current suicidal austerity regimes and exit the Union in a peaceful and relatively orderly way.
Austerity is not suicidal.
Exit from the Union will not be peaceful and relatively orderly.
Continuing overspending is suicidal.
ALL Gov. should have stopped spending what they did not have, 30 years ago.
Over spending can only be done when you have surplus.
Its too bad and so sad.
There is no more blood to be had. The patient has already been bleed too much.
One cannot, for example, overestimate just how psychologically committed we are to the context into which we are born and have lived.
…
Nicole Foss: “Fortunately, other strategies exist beyond attempting to preserve the unpreservable. What we must do is to decentralize – to build parallel systems to deliver the most basic goods and services in ways that are simple, cheap and responsive to rapidly changing circumstances.”HOW?
Easy.
Get the big fishes in the little ponds to lead the movement.🙂
===Great subject to explore.
Growth and steady state
My mistake …
The subject must be avoided … its like digging a grave ahead of time. It will cause someone’s death.
Great subject to explore.
Growth and steady state
As to “all” being too human to steady state, “all” is a very big category. Australian Aboriginals stayed steady state for millenia, so did the Inuit, so did the Kalahari bushmen. In a meager environment with no surplus, nature does a fine job keeping Homo Sapiens at a steady state.
Big question?
Did the Australian Aboriginals etc. reach a greater state of inner growth than we have with all those years of steady state?
How about the Vedic civilization?
Where has all of their wisdom been recorded?
In the “holy writings”?Funny how all of this wisdom has been either ignored or trampled on by the forces of growth, greed, and by people striving for a monopoly of resources to guarantee liberty, and their pursuit of their happiness.
In a structure of finite resource, some will have less so that some may have more.
Due to genetic and environment inputs, it is not possible to extinguish “I want more”.
There are many more points worthy of discussion.
https://www.oftwominds.com/blogapril12/peak-housing4-12.html
Its not a bright future for those owning assets.
Note that property taxes declined significantly in the previous recession (2000-2002), but they rose steeply in the 2008-9 recession, and continued climbing. The recent modest slippage may have several factors: lower valuations in states that set property taxes on assessed values, tax revenues declining as homes in foreclosure languish with unpaid property taxes, and so on.
Anyone claiming that property taxes have peaked will have to support that claim with evidence that local governments have found other sources of tax revenues to replace property taxes. Until that dynamic changes, then local government will have every incentive to jack up property taxes by any and all means available.I have heard that, in the far east, India and other countries, that the suicide rates have been rising due to the pressures being put on by the money lenders.
🙁
Its not a bright future for those owning assets.
It’s never going to end, ‘things’ will never get ‘better’. Regardless of what people want or politicians promise. There will be no more middle class, no more mechanized progress. Ever.
A small FIX …
“… things will never get better”
Could be
“things will never be the same”
“things will never go back to what they were”
—
All of those expert financial advisers working for those big financial institutes failed to do what they were paid to do. ( If you believe that they were suppose to do due diligence and make good loans)It seems that their judgments must have been fogged up by the drugs that they were taking.
Replacing those people will not solve the problem because all possible replacement candidates will also be on the same drugs. The whole human resource department is on the same drugs and will only consider candidates that are using similar drugs.
The web is great!
Information is posted up for everyone interested to see and analyze.
Information can be shared with other interested parties.
Now you are aware of the frequent meetings of financial ministers and others as they try to wiggle and turn in their attempt to save their way of life.
Their gyrations, and contortions seem to look like a handful of slippery worms.There used to be a time, before the web, (in the days of paper info), when all of their actions were done in total darkness to all who did not receive copies of their minutes.
Be happy that there are diggers sharing their finds with you.
Only one picture comes to my mind.
Pulling yourself out of quicksand by your bootstraps.
There is no other way for the financial system to try to save the financial system from itself.
A comment on the futility of making people see what we see.
Many commentators have said that they are being marginalized whenever they express the doom of our system.
Its the same as convincing people to change their religious beliefs.
After a lifetime of “teaching”, very few people will look beyond their belief system for explanations.Keep in mind that our belief system has been promoted for the last 30 years or if you prefer since the great depression.
Imagine if YOU would change your beliefs and accept the doom of the world just because an ancient calendar, (maya), was changing.
https://en.wikipedia.org/wiki/Maya_calendar
Misinterpretation of the Mesoamerican Long Count calendar is the basis for a popular belief that a cataclysm will take place on December 21, 2012. December 21, 2012 is simply the day that the calendar will go to the next b’ak’tun, at Long Count 13.0.0.0.0. The date on which the calendar will go to the next piktun (a complete series of 20 b’ak’tuns), at Long Count 1.0.0.0.0.0, will be on October 13, 4772.https://www.zerohedge.com/news/how-ecb-turning-spain-greece
How The ECB Is Turning Spain Into Greece
(ECB liquidity now accounts for 8.6% of all Spanish banking assets), is a very high number – on par with Greek, Irish, and Portuguese levels around 10% where their systems are now fully dependent on the ECB for the viability of their banks. His bottom line, Spain is not looking good here and while plenty of chatter focuses on the ECB’s ability to use its SMP (whose longer-term effectiveness is reduced due to scale at EUR214bn representing just 3% of Eurozone GDP), consider what happened in Greece! The ECB did not take a Greek haircut and so the greater the amount of Greek debt the ECB bought, the greater the eventual haircut the private sector was forced to take.
The conclusion is …
If the leveraging is 33:1 then the banks get all of their money back if the ECB takes only 1 of 33 bad assets at a 100%. The banks are saved.
If the ECB takes all 33 bad assets at 100% then the banks are going to be rolling in cash.
If you are still confused, Go back and read the example from CHS above.Let’s try to look into what could be happening to try to save Spain.
Read the following to get an introduction.https://www.oftwominds.com/blogapril12/2008-reprise4-12.html
Is 2012 a Reprise of 2008? (April 12, 2012)
The collateral was leveraged 33-to-1.
If $1 of collateral is supporting an inverted pyramid of $33 of leveraged debt, which is then the collateral supporting an even larger pyramid of derivatives, then when that $1 of collateral vanishes, the entire edifice has lost its base.
In our example, the mortgage is still valued on the books at $450,000, but the actual collateral — the house — is only worth $250,000. The idea being pursued by central banks around the world is that if they pump enough free money and liquidity into the system, and buy up impaired debt (i.e. debt in which the collateral has vanished), then the illusion that there is still some actual collateral holding up the market can be maintained.
The European Central Bank (ECB) has played the same hand as the Federal Reserve: Do more of what has failed spectacularly. Expand the money supply, pump in more liquidity and buy up the impaired debt all in the hope that the market will believe that there is still some collateral holding up the leveraged-debt pyramid.Let’s concentrate on the following statement.
“… and buy up the impaired debt …”
If you really want to understand how the numbers work,then use a spreadsheet.The conclusion is …
If the leveraging is 33:1 then the banks get all of their money back if the ECB takes only 1 of 33 bad assets at a 100%. The banks are saved.
If the ECB takes all 33 bad assets at 100% then the banks are going to be rolling in cash.
If you are still confused, Go back and read the example above.Thank You.
===establish a legitimate debt moratorium/forgiveness program.
The best way to do that is to move the un-performing debts to a “structure” that will save the banks. (keep the banks from going bankrupt. An equivalent F&F)
What else would one expect when trying to solve a debt problem by piling on more layers of unproductive debt?
Exchange/replace the “unproductive debt” for a cash producing/generating asset. (printing press heheheh)
Welfare Limits Left Poor Adrift as Recession Hit
Faced with flat federal financing and rising need, Arizona is one of 16 states that have cut their welfare caseloads further since the start of the recession — in its case, by half. Even as it turned away the needy, Arizona spent most of its federal welfare dollars on other programs, using permissive rules to plug state budget gaps.
In case you skipped what I previously said.
…The solution will be the one that does not do any harm to the rich.
After all, they do own the megaphone, (even at the local level).The next blockwatch captain will be a cop moonlighting to subsidize his lifestyle.
https://www.zerohedge.com/news/greece-launches-rent-cop-fill-empty-public-servant-coffers… this entire situation is a real problem that has to be solved very soon.
What is the solution when you spent money you don’t have?
Spend more money that you don’t have!!!Give me a break!!!
The solution will be the one that does not do any harm to the rich.
After all, they do own the megaphone, (even at the local level).When the local rich people are getting hurt, then you will see the first wave of the exodus from dodge city to their prepared doomstead.
Did you find a meeting place where all of these conspirators get together to finalize their plots.
No???
Then try this link
https://en.wikipedia.org/wiki/Bohemian_Club
A number of past membership lists are in public domain,[5] but modern club membership lists are private. Some prominent figures have been given honorary membership, such as Richard Nixon and William Randolph Hearst. Members have included some U.S. presidents (usually before they are elected to office), many cabinet officials, and CEOs of large corporations, including major financial institutions. Major military contractors, oil companies, banks (including the Federal Reserve), utilities, and national media have high-ranking officials as club members or guests. Many members are, or have been, on the board of directors of several of these corporations; however, artists and lovers of art are among the most active members. The club’s bylaws require ten percent of the membership be accomplished artists of all types (composers, musicians, singers, actors, lighting artists, painters, authors, etc). Artistic members are admitted after passing a stringent audition demonstrating their talent.
Learning to Think in Multiple Scales!!!!
Easy to say and achieved by very few.
Most of those who can have been hired by the squid.
Most everyone else who can are relegated to …
I can’t do anything about it so I don’t think about it.
For the last 30 years, growth was being generated by borrowing.
The borrowed money did not exist. It was created, (heheh, God Work)Can borrowing, (creation of money), continue without paying back the lender with interest?
Who or what organization is capable to continue lending without getting their loans paid back?
How long can loans be given out with only a token cash flow coming back to the lenders?
At some point in time, there has to be loan forgiveness and a rebalancing of the books. (There has to be a recognition that bankers are false gods)
The participants of all this fraudulent accounting are well aware of what is happening and must continue the pretend game.There is no other game in town.
For the last 30 years, growth was being generated by borrowing.
The borrowed money did not exist. It was created, (heheh, God Work)Can borrowing, (creation of money), continue without paying back the lender with interest?
Who or what organization is capable to continue lending without getting their loans paid back?
How long can loans be given out with only a token cash flow coming back to the lenders?
At some point in time, there has to be loan forgiveness and a rebalancing of the books. (There has to be a recognition that bankers are false gods)
The participants of all this fraudulent accounting are well aware of what is happening and must continue the pretend game.
There is no other game in town.
Far as models go in the animal kingdom, they tend to be pretty hierarchical overall, at least for the ones that work in larger groups. Again though, its not so much the political organization as the distribution of scarce resources you have to deal with. Animals don’t really deal with that problem, they just die off. People seem to get all bent out of shape over this problem though. Everybody figures it is the OTHER guy that should go to the Great Beyond. Rich people fiigure its all the Poor people; and Poor people figure its all the Rich people.
Are humans smarter than other species?
(Bees, ants, birds, sharks etc.)
There are social systems that have lasted millions of years.
Surely, we should be able to build a sustainable society.
As an after though.
There are social systems that have lasted millions of years.
Look to nature.
Bees, ants, birds, sharks etc.
What kind of blend will the human specie develop that will be sustainable ?
In both cases though, as long as the large structure of the Nation State holds together, you will end up with Totalitarianism and a whole lot of Dead People of course. Which of course is inevitable in a world of Population Overshoot also. You are likely to see both of these solutions undertaken in different places depending on a whole lot of differing variables for a given location.
Interesting observation.
In historical context, both system have come about from other systems which lasted longer, (1,000 years) than our present economic/financial/social system.
Those previous systems were also riddled with greedy people and the system had to harness those people so that those systems could have lasted as long as they did.
I don’t know whether it will end up Fascist here or Communist (though I expect the former more) but in neither case is it a very good solution and won’t be pleasant to live under.
I would like to think that the “bad” people are not always one step ahead of the “law” and that some kind of a modern system will come out of the ashes that will make it possible for those surviving the bottleneck restructurization, to have a wholesome lifestyle.
This discussion has taken a very unexpected turn.
From “Unbearable Pain”, due to cash flow restriction to a discussion of “wealth”.
I will add a comment to “wealth” for you to think about.
1. Replacing broken windows is not wealth creation. It is forever having to re-do what had been accomplished before going forward to do new things.
2. The man who uses the flow of water, (uses no energy), for his needs will always be better off than the man who must bring water uphill, (uses energy) for his needs.
Now its the turn of Spain.
Whenever I hear someone use “Growth” as a solution to the financial problems, I know that it cannot happen.Let’s look back at the last 30 years. Those were the years that the US financed its growth with borrowing. The lenders of those loans were printing money that they did not have. In other words, leveraging.
Gov. had guidelines that lenders were suppose to follow when doing leveraging. (Aprox. 10 times.) which was suppose to be financially prudent and sustainable.
However, all the lenders found ways of pretending that they were following the guidelines while leveraging up to highs of even 50 times.
That is the way that the prosperity/growth was financed over the last 30 years. You can call it a bubble, inflation or whatever you want. The end result is that it was not financed by GDP growth, ( real wealth).
“Growth” was pulled forward faster than the growth of the economy.As a result all of the money “printing” that is happening, now, is only to cover the lack of cash flow that is suppose to come in to the lenders/banks from wealth creation. The borrowers do not have the means of making their payments. The loans were not invested into wealth creating assets that would generate cash flow.
A reset is happening and it will not end until GDP is equalized with wealth creation. Some areas will have to do a lot of adjusting and suffer a lot. Some areas will take longer to adjust because they are still producing surplus wealth for trade.
Some areas will be under pressure to give away their surplus wealth under the threat of having it taken away by force.
All regions of the world have been affected.
For example,
Do a search for “house for sale” in Spain then in Vancouver. You will quickly find out that a comparable house would be priced 100 times in bubbly Vancouver.
Be prepared. Be nimble. Be quick.
Its coming to your neighborhood.Oh!
I Forgot, according to the generational dirt poor, “Spain’s Unbearable Pain” is still bearable.
