Professorlocknload
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China, Russia, EU, The Middle East, Japan, U.S. et al,,,all have in common State Controlled Economic Systems. All will morph into the same fate, as participation on the part of “market” players progresses from voluntary to mandatory.
Don’t have health insurance? They’ll force you to purchase it. Don’t want to pay for foreign wars? They will extract the funds from you through taxation. Don’t want to save for retirement? You will be forced to contribute to the MIC and Wall St through Social Security and other taxes. “Click it, or Ticket.” New Deal will be piled upon New Deal in this house-take-all card game.
“Gulag Archipelago” might make appropriate bedtime reading about now, for the few non believers who would like to at least attempt a front run at all this. Or maybe to help them understand what happened to them on the way home from the polls, as they are shaken down and frisked by their benevolent community “Protect and Serve” paramilitary police force, that they, themselves constructed.
Humm? There is that word. Force. Expect exponentially increasing abundance of that, as scared little people demand more and more of it to keep themselves “safe” from the hell they perceive as “Other People.” Apologies to Gene-Paul.
Don’t tell me,,,Grexit any day now,,,oh,,,and big deflation all around?
Leaks? Everything is leaked now. The high bid gets the info.
The ends justify the means, don’t-cha-know?
Ambrose,,,”Unless the normal mechanisms of monetary policy have broken down altogether – which is possible, but would you bet your pension on it?”
Well,,,would you?
Or would you believe it’s somehow different this time?
Oh, but Churning = Tax Revenues,,,so churn it will be. Only a matter of time to the grand reset. When Velocity takes off, there won’t be much visible but the vapor trail, to most non club members.
Ever wonder how much of that $1.7 trillion in cash hoard is derived from $4 trillion + in Fed QE injections?
That we know about, that is. Indirectly, given Fractional Reserve amplification, the effective injections of “Free” money are probably somewhere well into the double digit range of $ trillions, maybe?
Looked at from a perspective of geologic time, the few seconds that are the realm of man on this dirt ball, pale in comparison to the grand scheme of things.
As the planet “evolves” from a period when most species could not have existed in the harsh early environments, through the brief period we are in now, where conditions are perfect for biological entities, it will continue it’s progress for some billions of years after man is extinct.
During this short sojourn, Homo S. will either eat himself out of house and home, pull the nuclear trigger or manage to stick it out until Mother Earth simply shakes him off her back like so many fleas. Maybe a population thinning plague will come along and slow the inevitable process, who knows.
Meanwhile.
Asking organized governments to solve all our problems is not advisable. For the most part, the apointed, anointed leaders of these organizations simply fail at the task by default, (since it was they and their predecessors that created most of the trouble?) and instigate bloody wars to cover their tracks.
As hard as it is for most “social” animals to accept, we really are on our own. We are, each of us, the world’s smallest minority, individuals. Each of us acting in our own best interest, but not really able to force others to comply with our own preconceived opinion of how the world should be. A good thing?
Collectively, though, like any mob, we find that “strength in numbers” grant us power. Caesar, Atilla, Alexander, Stalin, Adolf et al had that figured out, as do the anointed of Capital Hill, The Kremlin, Ten Downing and other “Departments of Public Safety” the inmates have constructed for themselves, only to force “others” to toe the line, mind you.
Change that? To what?
Rule of Law no longer gets it because it has been watered down to irrelevancy, by,,,wait for it,,,too many laws!
So, until further notice, the chaos will continue. Utopia is nowhere in sight. There would need to be too many Utopias to please everyone anyway. No one can know the future, and the past is gone, so I guess the now is all that we have.
So, until The Mighty Quinn’s arrival,
May the governments and mobs that pillage and govern best, pillage and govern least.
Well put, Ilargi, as a great summary of the present state of affairs. Unfortunately, the only solution as a fix for a State controlled and distorted artificial economic ecosystem is implosion. Free markets are much like any other natural system,,,they are not sustainable in captivity.
Like a forest that has become overgrown with evermore “efficient” means of fire suppression, the day must come when it is all sparked by a very natural and unpreventable bolt of lightening, and the process of creative destruction is set loose.
Patience and fortitude, dear boy,,,it will all correct in due time. A kind of ‘Moore’s Law’ in the exponentially increasing dissemination of information and ideas will hopefully prevent the process dragging out as in the Soviet nightmare, but correct, it will.
On Mr. Summers “Cashless Control” machinations, well, I see that as a green light to a whole new paradigm for the advancement of shadow street economies. Kinda like gun control threats boosted gun and ammunition sales to all time records?
Still, I have to wonder if maybe the U.S. Constitution should not have begun and ended with “Congress Shall Make No Law.”
Blast from the past, Doc.
https://www.goodreads.com/book/show/82102.Why_Government_Doesn_t_Work
The New “Aristocracy” is now .gov and it’s Corporate partners.
Not Aristocrats at all, but Fascists.First task is to define “money”, before figuring out how some anointed aparatchick is turned loose in “creating” it.
“The $10,000 question is will China make a cyclical rebound like it has done in the past?”
I have confidence that in a world of fiat currencies, enough can eventually be printed to absorb most every available resource, including excess oil supply. Remember, it is the primary function of Central Banks to print whatever their governments and their publics spend.
This isn’t over until currencies collapse from printing fatigue and resource shortages.
Thanks for the thoughts there, Doc,
Maybe the real question might be, is the Equity Market right at this juncture, or is the Security Market? Granted, given what passes for markets these days.
But, again, keep the “Half Life” of all currencies in mind. They are all nothing but tornados in search of a trailer park.
Yes, jal,
The PC terms for such things are “Public/Private Partnerships” and “Government Controlled Capitalism.”
And, of course, the engineers of these “benevolent” structures are to be “justly” compensated,,,
https://www.zerohedge.com/news/2015-03-24/lifestyles-not-so-austere-socialist-island-villa-edition
All backed by the full faith and credit of the most abundant resource in finance. Fiat currency. But, then with a dollar half life of around four years, what else can one do? Join the party or get real, I guess.
I do believe you have painted your masterpiece with that article there Ilargi!
Absolute clarity in the illucidation of the present state of affairs.,,,Aside from the fact jawboning is free to the Fed, but the real deal is high risk. I’m sure some apparatchik in that evil bureaucracy has contemplated that? Most likely, calculated it!
D-Day in six days, eh? Just like that? And how long, again, has Japan been Zirp bound?
Grandma might do a few basis points to cool stocks a tad, and even to slow security demand a notch, but I won’t be holding my breath on 100 BP moves until I see lines start to form at the toilet paper section of grocery stores and at gas pumps.
Still, at today’s rates, one doesn’t really leave much on the table by cutting durations back to a couple years or so ;-).
“Since her narrow re-election win in October, Rousseff has made a dramatic U-turn in economic policy to regain the trust of investors worried with the financial health of an economy that until recently was one of the world’s most dynamic.”
Was it dynamic, or a debt based illusion?
Just kick the can onto the next watch. Nothing new here but a different set of pandering politicians.
Would a Grexit really have any more impact on Europe than a Detroit bankruptcy would have on North America? Did the Detroit mess cause a domino reaction here?
Seems to me TPTB have such a tight rein on it all that we could go for years before they “lose it.” Hell, we’re 7 years into the “imminent” total implosion which was supposed to happen back in 07/08. What’s another decade? That said, we haven’t even entered Full on Japan Phase yet, which can extend the circus another many years.
Demand being unlimited, and Central Banks and their governments believing money creation can always feed demand,,,well, I guess all one can do is sit tight and wait for that monetary blizzard. From FF rates of zirp, where will they peak in the eventual money storm coming up? 18%? 25%? Maybe 80%, before full reset?
QE4>> is going to be big! Really big!
Best the Greeks can hope for is they owe some Wall Street banks a boat load of money. Yellin would likely be happy to drop a $trillion or two on an economy smaller than greater Seattle to help things along?
And what of the proposed abandonment of austerity measures? There is suddenly a treasure chest of new wealth to be found with a simple swapping of one corrupt government for another?
Or is it the populist saviors ordered up a new printing press, and won’t be afraid to use it?
Humm, consumer spending down, while oil revenues collapse?
One might think consumers getting the same amount of fuel for half the price could result in a bit lower spending number?
Of course, todays oil price surge and the surge in gas prices recently might reverse all that, if TPTB can keep the floor under oil to prevent a financial implosion brought on by the oil patch?
I wonder if they aren’t beginning to realize they blew it in their effort to punish Putin? I guess we’ll soon find out, if oil trends up from here.
Syriza is looking out for those who financed it’s campaign, not those who voted for it.
But then, in the beginning, populists always seem so egalitarian, don’t they.
Interesting. There is not a single news headline above that I don’t question as propaganda of one sort or another.
Ha! Bird and Oxen,,,spot on!
Segue to a bumper sticker I saw in a *church parking lot,,,”If God Had Intended For This To Be a Democracy, He’d Have Given Us Candidates”
*though I don’t attend such institutions, I do use their parking facilities as a short cut on occasion.
The momentum of the power grab is such now that it can’t be halted. ‘Bout all we can do at this point is step aside and let it’s own lust destroy it, being as vigilant as possible in not getting any on us, through the unravelling.
Must keep the powder dry so we may use it in building a new, improved “flawed system of governance, except for all the others.”
Next time around, maybe the Constitution should be a bit less wordy,,,like Maybe 5 words long,,,”Congress Shall Make No Laws.”
Heaven forbid law making should be the responsibility of the people, at the local level. What a vacuum that would leave in the ability to concentrate central power?
Of course, an amendment mandating all currency be real, and the sole property of it’s holder, not the property of the State, might be acceptable, maybe?
He who has the most debt, at the lowest subsidized rate of interest, generally wins over the long run, in any Fiat based Fractional Reserve system economic cycle. (As long as that debt is against tangibles.)
Or, do the most expensive words in investing, “This time it’s different,” still stand?
Interesting choices.
Oh, sure,,,it’s unanimous, so let’s print, print, print. We got the “D” message. We are scared now. We grant full consensus to TPTB.
This shit couldn’t be any better choreographed. Just that some folks don’t drink the Kool-Aid.
Speak of the devil, Bullard is back this afternoon, like clockwork, yammering on about more unconventional QE policy as needed.
QE-to-infinity. It’s what’s for dinner.
Hey, unless we are expecting another Inquisition, the Pope can say whatever he thinks he has to in order to maintain the political power of the Papacy, one might suppose.
Ah, yes,,,the devil is in the Geopolitics, this just in;
https://www.zerohedge.com/news/2015-01-14/russia-cuts-ukraine-gas-supply-6-european-countries
And Vlad is the bad guy again.
