zerosum
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Is that a picture of the future?
The kids are not brown or black.
The kids are not wearing shoes.
Would brown or black kids be wearing clothes?Austerity has failed the British people and the British economy.
Therefore, print and print some more,War production has saved many countries.
Therefore, have more wars.Building ghost cities has worked.
Therefore, dig more holes and build more piles of resources.Capitalism has worked.
Therefore, arrest the rich and keep them in a luxury prison until they sign over their wealth to the gov.😉
Review
Hoping to avoid another round of unpopular bailouts, financial watchdogs have forced too-big-to-fail banks to make themselves less dangerous by adding lots of capital that safeguards against losses.
What is bank capital?
Bank capital is the difference between a bank’s assets and liabilities, and it represents the net worth of the bank or its value to investors. The asset portion of a bank’s capital includes cash, government securities and interest-earning loans, such as mortgages, letters of credit and inter-bank loans, while the liabilities section of a bank’s capital includes loan-loss reserves and any debt it owes. A bank’s capital can be thought of as the margin to which creditors are covered if the bank liquidates its assets.
What are bank assets?
Bank assets are the physical and financial “property” of a bank, what a bank owns. While a bank commonly owns physical property (buildings, land, furniture, equipment),
the bulk of a bank’s assets are financial–legal claims on the property or the wealth of others. The two most notable asset categories are loans (which generate interest revenue) This asset includes loans to consumers (home loans, personal loans, automobile loans, credit card loans) and businesses (real estate development loans, capital investment loans).
and reserves (which keep deposits safe).Two varieties of reserves worth noting are vault cash (the actual paper currency and coins that is kept in the bank, that is, in the vault) and Federal Reserve deposits (deposits that banks keep with the Federal Reserve System to clear checks and assist in other banking activities).Go and read the rest of the article.
Removing the causes of the emotional and physical pain would make the opioid crisis disappear.Easier said than done.
“Millennials are the worst culprits here: 24% still haven’t paid off credit card debt incurred during the 2016 shopping season, while 16% of Gen-Xers haven’t and only 8% of boomers haven’t.”
I feel left out – no money – no debt.
problems:
What will the 0.01% do when they are the only survivors?
They cannot do any of the survival tasks that they really on to survive.Then …..
The earth will heal itself and only those willing to live and let live will prosper.Why I can’t figure out what is happening,
what is the truth,
what really matters,
or what is important.It’s all because the news media is focused on Trump.
Trump is a distraction and a confusion.definition:
distraction; having one’s attention drawn awaySynonyms for distraction
aberration, complication, confusion, disturbance, diversion, interference, interruption, abstraction, agitation, amusement, beguilement, bewilderment, commotion, disorder, dissipation, engrossment, entertainment, frenzy, game, pastime, perplexity, preoccupation, recreation, divertissement
confusion
noun. disorientationabashing
abashment
addling
agitation
befuddlement
befuddling
bemusement
bewilderment
blurring
chagrin
cluttering
commotion
confounding
demoralization
disarranging
discomfiting
discomfiture
disorientation
distraction
disturbing
dither
dumbfounding
embarrassing
embarrassment
embroiling
flap
fluster
lather
mixed up
mystification
obscuring
perplexing
perplexity
perturbation
pother
puzzlement
stew
stirring up
tangling
tumult
turbulence
turmoil
unsettling
upsetting” …Yemen will face “the largest famine the world has seen for many decades, with millions of victims …”
Ask the Saudi if the war is going as planned?
What does a sustainable social/economic system need.
Taxes are not needed or necessary.
Borrowing and lending are not needed or necessary.
What is needed and necessary is adequate control of printing of the money supply.Taxes are not needed or necessary.
Borrowing and lending are not needed or necessary.
What is needed and necessary is adequate control of printing of the money supply.Players in the middle east. (oversight and omission)
UK• Growing Homeless Camps Contrast With West Coast Tech Wealth (AP)
Tenting is not a necessary housing solution.
There are alternatives.
There are probably more used/cheap RV and cargo trailers, than people, than could be a alternate/comfortable housing solution.• Four False Viral Claims Spread by Journalists on Twitter in One Week (GG)
• Profiting from Puerto Rico’s Pain (New Yorker)
• What Could Go Wrong? (Jim Kunstler)
• Saudi Arabia Accuses Lebanon Of ‘Declaring War,’ Egypt Calls For Calm (CNBC)
• Oil Prices Surge On Saudi Purge (CNBC)
• Bernie Sanders Warns Of ‘International Oligarchy’ – Paradise Papers (G.)
Lies, Lies, everywhere Lies.
People lie.
Journalist lie.
Politicians lie.
Law enforcement lie.
Religious people lie.
Sinners lie.
Holy leaders lie.
Teachers lie.
Men lie.
Women lie.Our social and economic structures are built upon lies.
• America’s Opioid Crisis Is About To Get Worse (ZH)
Abundant supply is not the only reason.
For the opioid crisis to get worst, you also need an ever increasing consumption.Remove the causes of the need for emotional and physical pain killers and the opioid crisis disappear.
“he found not only did they make a good living from hunting and gathering, but they did so on the basis of only 15 hours’ work per week”
When humans were a minority.
Those were the good old day.
@ john
I like your point # 1
I would add that secrecy/knowledge would be needed to take advantage of other people.
The web is an equalizer.@ nassim
The more that I learn the less positive I become.
I can no longer tell the difference with the truth and false news.I need more than a grain of salt.
“Yes, stocks are up. But 80 percent of the value is held by the richest 10 percent.
less than half — 46 percent — of households owned stocks, either directly or through their holdings in some sort of fund (e.g., a retirement account). Contrast that with the 94 percent ownership rate of the top 1 percent.
Look, it’s great that the market is hitting new highs. That’s much better than the alternative. But let’s keep it real in terms of who benefits.”
Full disclosure: I don’t own any stocks
There are disasters and pain in many more place than the two you have listed as an example.
The Mediterranean has never seen peace.
Men/women in all those disasters are causing people to suffer or to get relief.
Some people are finding ways to benefit from the loss of others.Someone is always picked out to be blamed for bad things.
Chose.
It’s gods fault.
It’s the devils fault.I just live on this earth.
I heard the messenger.
I’m innocent.The wave is not going to be for more than 10 days. It takes four day of sailing from Miami. It’s a pretend help.
Here is an other pretend help.
A group of bondholders, who own a portion of Puerto Rico’s massive $72 billion debt, has proposed what they are calling relief — but in the form of a loan. So they’re offering a territory mired in debt the chance to take on more debt.
The announcement came after The Intercept spent two days reaching out to 51 of Puerto Rico’s known creditors, asking them if they would support a moratorium or cancellation of debt payments for the island, given the humanitarian crisis. Prior to this announcement, only three of the 51 creditors had so much as donated relief funds to charity or offered sympathy for island residents, all of them banks who actually have to face consumers, and so are a bit more adept at handling public relations. No creditor had supported debt relief.
Of the 51 creditors contacted by The Intercept, only Citibank, Goldman Sachs, and Scotiabank have pledged no-strings-attached money for Puerto Rico and other Caribbean islands, in the form of donations to relief organizations totaling $1.25 million. Citi has also waived certain fees for citizens within disaster zones.
Puerto Rico’s other creditors contacted by The Intercept would not say whether donations were made by their firms or their top executives, which include some of the richest people on earth. Holders of Puerto Rican debt have included John Paulson, who got rich betting against the housing market during the financial crash; Jeffrey Gundlach of DoubleLine Capital, who in 2015 called Puerto Rican debt his “best idea” for investors; and Marc Lasry of Avenue Capital Group and co-owner of the Milwaukee Bucks NBA team.
The creditor lists were assembled by Puerto Rico’s Center for Investigative Journalism in 2015 and supplemented by additional media reports. In addition, the federal bankruptcy-like process in Puerto Rico forced holders of one type of debt, so-called “COFINA” bonds backed by sales tax revenue, to reveal themselves. A full list of known Puerto Rican bondholders and their responses to The Intercept’s inquiries appear at the end of this article.
Experts see even the offer that was made by the bondholders less as a gift and more as a backdoor for creditors associated with the Puerto Rico Electric Power Authority, or Prepa, to take advantage of the disaster by enriching themselves. Offering a desperate population the ability to drown themselves in even more debt is hardly generous.
See….
There are lots of ways to make money when the bubble burst. 🙂Before you cheer, look up the definition ofWaives and find out what will be the duration.
The NYT is in la-la-land
” It is time for Congress to act ethically and responsibly and suspend the Jones Act in Puerto Rico.”I just read
Under the law, any foreign registry vessel that enters Puerto Rico must pay punitive tariffs, fees and taxes, which are passed on to the Puerto Rican consumer.
Someone is going to make a fortune off the relief efforts.
Food costs twice as much in Puerto Rico as in Florida. Jones Act relief will save many Puerto Ricans — especially children and seniors — from potential starvation. Jones Act relief will also enable islanders to find medicine, especially Canadian pharmaceuticals, at lifesaving rates. And it will give islanders access to international oil markets — crucial for running its electric grid — devoid of a 30 percent Jones Act markup.
There will be a lot more shit hitting the fan before its over.
There is a lot of ways to make money after a bubble burst.
Keep printing. It will keep the bubbles flying higher.
There is no bubble in Puerto Rico.
Can you afford to buy in Puerto Rico?The US Cities with the Biggest Housing Bubbles
For the good folks who hope fervently that the Fed doesn’t have reasons to raise rates or unwind QE because there isn’t enough inflation, here is an update on one aspect of inflation – asset price inflation, and particularly house price inflation – where the value of your hard-earned dollars has collapsed over a given number of years to where it takes a whole lot more dollars to pay for the same house.
The S&P CoreLogic Case-Shiller National Home Price Index for June was released today. It jumped 5.8% year-over-year, not seasonally adjusted, once again outpacing growth in household incomes, as it has done for years. At 192.6, the index has surpassed by 5% the peak in May 2006 of crazy Housing Bubble 1, which everyone called “housing bubble” after it imploded (data via FRED, St. Louis Fed):
Most of the countries/gov. do not offer health insurance for their subjects.
Are those people’s lives worst than the Americans with their unaffordable health systems?Yep. I know.
We all want to live old and die rich.Puerto Rico had a bubble that had burst.
Now MARIA has destroyed the assets.
There are no assets to seize.Questions?
Will the expats leave or stay?
Will the unpayable loans be repaid?A comparison is in order.
Haiti
https://www.usaid.gov/haiti/energyHaiti is facing two energy challenges: a broken electricity sector and dependency on charcoal. The electricity sector in Haiti is among the most challenged in the region. Only about one-quarter of the population had access to electricity prior to the 2010 earthquake, and that remains the case today.
Where are the Lies?
In the omissions?
In the misdirections?How high is space?
https://www.science20.com/satellite_diaries/how_high_space-69753But those aren’t ‘space’. In the US, “space” begins at 80.4km (50 miles), or 264,000 feet. General international consensus sets a similar limit for the start of space as 100km (62 miles), or 380,000 feet.
“Low Earth Orbit” (LEO), where many satellites live, goes from 160km (100 miles, 525,000 feet) to 2,000km (1,240 miles, 6.5 million feet). In LEO, we have some sample objects to look at.What is the orbit of space station?
https://en.m.wikipedia.org/wiki/International_Space_Station
The ISS maintains an orbit with an altitude of between 330 and 435 km (205 and 270 mi) by means of reboost manoeuvres using the engines of the Zvezda module or visiting spacecraft. It completes 15.54 orbits per day.[15]Can the missiles from North Korea destroy the satellites that are in space?
https://en.m.wikipedia.org/wiki/List_of_North_Korean_missile_tests
2017 North Korea launched a ballistic missile on September 15 from Sunan airfield. It reached a height of 770 km and flew a distance of 3,700 km for 17 minutes over Hokkaido before landing in the Pacific.[63]
Looking at someone else’s belly button
https://en.m.wikipedia.org/wiki/List_of_natural_disasters_by_death_toll
Ten deadliest natural disasters
Rank Death toll (estimate) Event Location Date
1. 1,000,000–4,000,000*[1] 1931 China floods China July 1931
2. 900,000–2,000,000[2] 1887 Yellow River flood China September 1887
3. 830,000[3] 1556 Shaanxi earthquake China January 23, 1556
4. 300,000[4] 1839 India cyclone India November 26, 1839
4. 300,000[5] 1737 Calcutta cyclone India October 7, 1737
5. 280,000 2004 Indian Ocean earthquake and tsunami Indian Ocean December 26, 2004
6. 273,400[6] 1920 Haiyuan earthquake China December 16, 1920
7. 250,000–500,000[1] 1970 Bhola cyclone East Pakistan (now Bangladesh) November 13, 1970
7. 250,000–300,000[7] 526 Antioch earthquake Byzantine Empire (now Turkey) May 526
8. 242,000–655,000 1976 Tangshan earthquake China July 28, 1976
9. 230,000 1138 Aleppo earthquake Zengid dynasty (now Syria) October 11, 1138
10. 229,000 Typhoon Nina—contributed to Banqiao Dam failure China August 7, 1975Famines
Note: Some of these famines may be caused or partially caused by humans.Rank Death toll Event Location Date
1. 15,000,000–43,000,000 Great Chinese Famine China 1958–1961
2. 25,000,000[citation needed] Chinese Famine of 1907 China 1907
3. 13,000,000[46] Northern Chinese Famine of 1876–1879 China 1876–1879
4. 11,000,000 Doji bara famine or Skull famine India 1789–1792
5. 10,000,000 Bengal famine of 1770, incl. Bihar & Orissa India 1769–1771
6. 6,000,000+ Indian Famine British India 1896–1902
7. 7,500,000 Great European Famine Europe (all) 1315–1317
8. 7,000,000–10,000,000 Soviet famine of 1932–1933 (Holodomor in Ukraine) Soviet Union 1932–1934
9. 5,250,000 Indian Great Famine of 1876–78 India 1876–1878
10. 5,000,000 Chinese Famine of 1936 China 1936
10. 5,000,000 Russian famine of 1921 Russia, Ukraine 1921–1922
11. 3,000,000 Chinese famine of 1928–1930 China 1928–1930
12. 2,000,000–3,000,000 Chinese Drought 1941 China 1942–1943
12. 2,000,000 Russian famine of 1601–1603 Russia (Muscovy) 1601–1603
12. 2,000,000 Deccan Famine of 1630–32 India 1630–1632
12. 2,000,000 Upper Doab famine of 1860–61 India 1860–1861
12. 2,000,000 French Famine France 1693–1694
12. 2,000,000 Great Persian Famine of 1870–71 Persia 1870–1871
13. 1,500,000–7,000,000 Bengal Famine of 1943 India 1943
w14. 1,500,000 Great Irish Famine Ireland 1846–1849It’s a real shame to see all those vacation cottages, condos, and resorts destroyed.
Where are all the vacationers going to go.
Supply and demand.
Will the cost go up for vacationing at the undamaged west coast resorts?
Oh Ya!
Poverty is a feature of our social and economic systems. It’s not a bug.
It’s a zero sum situation.
If someone has more than enough then someone else will not have enough.comment on rebuilding, ref. hurricane Harvey, Irma
(Belly button gazing)Put it in prospective
Did you hear about cyclone MORA
https://en.m.wikipedia.org/wiki/Cyclone_MoraDid it make you sad?
Have you seen any historical info on devastation after natural disasters?
Start by reading
https://en.m.wikipedia.org/wiki/List_of_Bangladesh_tropical_cyclonesCloser to home go and look at the historical devastations of Haiti and Cuba.
What makes you sad?
Is it poor people loosing their place to sleep?
Or
Is it Trump having to rebuild some of his assets?Misplaced care and empathy?…
I just heard that FEMA will get double, 15B, to take care of the needs from both hurricanes.
The printing presses are hot.
“… extend the U.S. debt limit and provide government funding until Dec. 15…”
The USA does not have any money. They do not have a surplus.
There is lots of water. Too much water in the wrong places. More water coming.
Money being created for damages from Harvey.
What will they do for Irma and other actual expenses that will occur.In Canada, B.C. Had a declared surplus.
There was an election.
There are forest fires.
There is still no water (rain).
All declared surpluses have been burnt.DACA
If you make your waitress angry then expect to get poor service and/or a meal that has been tampered???
25% of construction workers are illegals
If it was me, with the damage by Harvey and what Irma will bring, I would not fix your flooded house or give you quality work.
If it was me, long-term, with my USA education, I would default on my student loans and open a med. tourist business in Mexico.
Oil closed down $1.19
My local gas price went up by .07 cent a liter.
There are 8 million less people gassing up their car.Harvey is somebody’s friend.
Harvey is not my friend.@Arnold
(A Simple change) 😉
We’re witnessing an expensive supportive bra, what’s not to get about that?Keep ignoring that; keep acting like naive idiots; the denial won’t help; it just makes the coming reality the harder to accept…
