WeLFaRe QUeeNS...

williambanzai7's picture




"In our time, political speech and writing are largely the defense of the indefensible..."--George Orwell

FORBES, September 2012: "The combined net worth of the 2012 class of the 400 richest Americans is $1.7 trillion, up from $1.5 trillion a year ago. The average net worth of a Forbes 400 member is a staggering $4.2 billion, up from $3.8 billion, and the highest ever, as two-thirds of the individuals added to their fortunes in the past year.  Another factor: the gap between the very rich and the merely rich is widening. Only two in the top 20 are poorer, and as a group they are worth $73 billion more than a year ago."

"Wealth redistribution" indeed. Call it the "Wealth Defect," not "Wealth Effect."

Say, have you signed up to get your real estate brokerage license yet? After all, we got to move all those pink bank owned refrigerators...money for nuttin' mortgage backed securities.

What we have is a bunch of whining uberwealthy kleptopathic ingrates basking in the midnight sun of Dr Bernanke's latest permanent round of Quantitative Fleecing.

Plop plop, fizz fizz, oh what a billionaire relief it is.  Now that friends is the serious way to to redistribute wealth. No need to pay a bunch of moronic Capital Hill hookers to pass or repeal a bunch of stupid ass entitlement laws. "Who gives a flying fucking burrito about fiscal cliffs and debt ceilings anyhow. Just as long as long as the printing press is running and we have our short and medium term exit strategies in place." Adds a whole new dimension to the term "Preppies" does it not?

Has it occurred to anyone that the entire country has been transformed into one big stupendous Political LBO?

Have you noticed how record numbers of Wall Street MDs have left the Banks (yes,  I mean Squids) to start or join big ticket hedge funds. You know, the ones that specialize in sucking management fees from public and private pension funds while surfin' market Big Mo. Main Street's bright and rosie future [sarc] is their "carried interest."

Pay no attention to the pinstriped men behind the curtain folks, collectivism and wealth redistribution are the real scourges at the root of all of your problems.

Here, have an iPhone. 
"It was quite simple, All that was needed was an unending series of victories over your own memory. Reality control" they called it in "Newspeak," "doublethink."--George Orwell 1984








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Fri, 09/21/2012 - 07:11 | 2817177 dogfish
dogfish's picture

The USA is a twin to Greece, welfare be it corperate or general only grows to unmanageable levels.

Thu, 09/20/2012 - 17:18 | 2816292 blindman
blindman's picture

the term collective seems to be well and
broadly misunderstood and hijacked.
interesting collection of terms.
collect (v.) early 15c. (trans.), from O.Fr. collecter "to collect" (late 14c.), from L. collectus, pp. of colligere "gather together," from com- "together" (see com-) + legere "to gather" (see lecture (n.)). The intransitive sense is attested from 1794.
Related: Collected; collecting. As an adjective meaning "paid by the recipient" it is attested from 1893, originally with reference to telegrams.
collectible (adj.) also collectable, 1650s, "that may be collected," from collect + -able. Meaning "sought-after by collectors of relics, souveniers, etc." is recorded
from 1888.
collection late 14c., "action of collecting," from O.Fr. collection (14c.), from L. collectionem (nom. collectio) "a gathering together," noun of action from colligere (see collect). Especially of money gathered for religious or charitable purposes from 1530s. Meaning "a group of objects viewed as a whole" is from c.1400.collector late 14c., "gatherer of taxes, etc.," from Anglo-Fr. collectour "collector" (of money or taxes; O.Fr. collector, Mod.Fr. collecteur), from L.L. collector, agent noun from colligere (see collect). Fem. form collectress is attested from 1825.
collective (adj.) early 15c., from M.Fr. collectif, from L. collectivus, from collectus (see collect). As a noun, short for collective farm (in the USSR) it dates from 1925. collective farm first attested 1919 in translations of Lenin. Collective bargaining coined 1891 by Beatrice Webb; defined in U.S. 1935 by the Wagner Act. Collective noun is recorded from 1510s; collective security first attested 1934 in speech by Winston Churchill.
cull (v.) c.1200, originally "put through a strainer," from O.Fr. coillir (12c., Mod.Fr. cueillir) "collect, gather, pluck, select," from L. colligere "gather together, collect," originally "choose, select" (see collect). Related: Culled; culling. As a noun, from 1610s.
comment: the terms, some terms, erase the individual
or the meaning of terms within the individual with
the intent of taking from the individual what is
rightly there and putting the meaning and power of that
into an-others domain. more bad induction? currently
mediated through fiat money and associated laws.

Thu, 09/20/2012 - 16:40 | 2816196 blindman
blindman's picture

Thursday September 20 1:00pm
Shared: People with Rakim Brooks
rare recording of gil scott-heron set.
great gil.

Thursday September 20 9:00am
1 hour
Public Affairs
First Voices Indigenous Radio
the earth needed a lawyer so...

Thu, 09/20/2012 - 12:27 | 2815264 Atlantis Consigliore
Atlantis Consigliore's picture

http://youtu.be/ueuauKKjPZI   US Debt Bomb FED B-52 QE  We need a video with Bernank riding da debt bomb,  the missle is the US Dollar. LOL

superimpose Bernank riding it hard all the way down....



Thu, 09/20/2012 - 12:03 | 2815179 williambanzai7
williambanzai7's picture

Look who has arrived


Thu, 09/20/2012 - 11:38 | 2815069 boiltherich
boiltherich's picture

WB7, I like your approach of using humor to get a point across, words do not generally work as well as pictures for those too dense to figure out that poverty and human value has NOTHING to do with the ethics or basic humanity of those impoverished.

It seems there is a rigid subculture here and generally in the country/world that just cannot get it through their heads that the same people being supported by entitlements today are the millions who would love to be at work if work was to be had, but it is just not good enough to have "a job" if that job pays so little that the worker can't afford the basic necessities of life when payday comes around.

They say the Fed or pick your flavor of hated politician (central planner) has destroyed the country and the value of the dollar, and shipped jobs overseas where labor is cheaper with ill thought out free trade agreements, they decry labor and crusade against unions and collective bargaining, and they claim such asinine theories like zero government is good government, right, because there is NO PROBLEM that cannot be made better with a dose of anarchy.

Today we have what? Forty seven, eight million on food stamps? And the rest of us not on food stamps have enough money to buy food today without assistance, or we did till QE3 was announced. That new shining pile of welfare for the wealthy will drive down real dollar value and drive up real food and energy costs so that a year from now that number enrolled in SNAP will be a couple, few million higher.

What the Fed (remember the Fed IS owned and operated by banks/bankers) is doing, has done, will do, is create so much money that the goalposts of what is rich and what is poor will move so massively that millions are falling out of the upper middle class into mere middle class and many in the middle are now lower, or working class, and the poor, those "lazy" bastards are flushed so far down the river of misery that they have to be assisted just to eat or have a roof, or their kids to have vaccinations. What was the simplest thing in the world for the banks, the mere moving of a decimal point in our financial paradigm, condemned millions and stole the saving of the whole middle class. Yet the middle class and poor are blamed as if they were blowing their savings on hookers and meth.

The rich, the asset owners, the investor class, they have been and will be fire-hosed with money so they will not only retain their wealth they will get far FAR richer, just as has gone on since Raygun was in office. And no matter how hard the rest "work" or how ethical they are, or how thrifty they might be, they will know nothing other than downward mobility. This is why trillions and trillions of dollars in secret loans and newly printed cash will go to keep a floor under the asset prices of the wealthy even as politicians slash the safety nets to ribbons. And for what? The trillion dollar deficit which has become structural rather than exceptional is now so small next to the vast new "wealth" conjured out of thin air and used to support the fat crony capitalist class that it hardly merits discussion no less the panic some would like us to feel about it.

And I have something to say to Mr. Magic Underpants and his bloviating supporters; that 47% that you so hate particularly for their self perceived "victimhood" ARE victims of a system that created the Romney and other familial dynastic wealth. And some of us are victims of crimes against our person that resulted in permanent injury which forever limits our ability to earn. I am a disabled veteran who was injured in the line of duty so yes I get a check from the government every month and will for life. But the next person that accuses me of being a leech on their wealth is going to get what he so richly deserves, I am not a welfare sponge, YOU are, you 0.01% and their apologists, first you damage me for life then you accuse me of being somehow beneath your contempt, then you stand around while the corporate class devalues my compensation to welfare poverty through inflation and lies about the CPI, laughing all the way to your temple of greed. And those injured have no right to sue the responsible parties for the damages in the case of GI's because of the Ferez Doctrine which says citizens injured in the service of their country must accept VA disability ratings rather than having the right to sue. I have no problem with that doctrine and see some wisdom in it even, but only as long as the VA rating system functions fairly and compensates at a level above poverty.

You want to go after the welfare queens? Go after the banks first, then get Cargill, Monsanto, Tyson, Archer Daniels Midland, "At least 43 percent of ADM's annual profits are from products heavily subsidized or protected by the American government. Moreover, every $1 of profits earned by ADM's corn sweetener operation costs consumers $10, and every $1 of profits earned by its ethanol operation costs taxpayers $30." https://www.cato.org/pubs/pas/pa-241.html

We can go through the budgets of Education, Commerce, Defense, Energy, Homeland Security (which should not even exist at all) Interior, all of them and find more fat to cut than in all of HHS. When you have cut corporate welfare to zero, and you have ended the stranglehold of banksters on our economy and money and returned banks to the utilitarian function of holding and lending and servicing our cash SECURELY, when you return us to an era where a days pay is at least equal to what a man needs to keep himself and his family out of the soup kitchens and off the dole THEN and only THEN may you denigrate the lazy or the idle unwilling to work. And if those at the top, and those ass kissing supporters of these economic fascists, continue to berate and punish the poor for their poverty in a nation where the average man no longer has control over their economic destiny, then you will suffer the consequences and this is not someday in another generations future, because the hurtful words of the ilk of that Mormon leech on society have moved that date up.

Thu, 09/20/2012 - 13:17 | 2815478 TrustWho
TrustWho's picture

Thank-you for your service and sacrifice. I had a good friend die in Vietnam. For a long time, I tried to believe he died for a good cause....like the domino theory was correct and we stopped the spread of communism. I realize the Clayton died for no good moral value, but for a kleptocracy that used him (and many others) to make money and feed the sheeple a patriotic vision as they stole from the sheeple.

Who is the kleptocracy? Kleptocracy uses government power to make their theft legal. People in government are the head of this mafia. Every state bar is a mafia organization (Good lawyers do exist when their young). A way a corporation gets a competitive advantage is through legislative action? What business would forgo a chance to enhance their revenue stream?

I have very little hope the government system can be fixed within the current structure as much a I have believed the Superman myth, because the powerful elite do not go to jail. (Note: writing this brings a tear to my eye.) One can not oversee or regulate this system, but self-regulation does work if the people in charge face long term jail for breaking the spirit of the law (Note: I like term the "moral code" better.).

I will defend Romney from this perspective. Our leaders have failed the citizens when 47% of the citizens depend on government to survive. Once again, globalization and USA debt-decisions made before Obama or Romney played a role- have created a serf environment for many people and the Wealthiest Country of the World may have been sucked dry by the kleptocrats. Romney wants to reduce the regulatory environment that addresses the problem I see. Obama wants the government to expand the regulatory control to protect the victims that magnifies the kleptocrats control.

The only way USA can overcome her problems without blood in the street is through economic growth. Ron Paul spoke the truth. Bring the troops home, defend our shoreline and reduce the regulatory control of the federal government. Our choices are disappointing, our time is short and we are likely facing blood in our streets. Our only hope is to hold whoever is elected accountable, send powerful people to jail, attack and reduce the kleptocrats, and build a moral community that has as much, if not more, concerm about their personal obligations to the community than their personal rights to happiness, healthcare and all other rights beyond those mentioned in the Declaration of Independence.    

As a disabled veteran, you have fulfilled your obligations to the community. Your spiritual defence of the Declaration of Independence through your service should give you standing, and maybe an obligation to your brothers who gave the ultimate sacrifice, to defend the principles that made this country great to the best of your abilities. The other choice leads to blood in the streets that I am afraid may be our destiny.

Thu, 09/20/2012 - 13:36 | 2815541 boiltherich
boiltherich's picture

Thanks Trust and all who commented positively and gave green arrows...

"As a disabled veteran, you have fulfilled your obligations to the community."


Disabled vets will tell you that the obligation to the rest of the country is not something that ends, not even when your arms or legs are taken away from you, and it does not matter that my, or your friend's faith was misplaced in the minds of some who did not die or get hurt, sad to say he is just as dead either way, I almost died too, and it does not really matter that there are predators among us that want to enslave the many for the greedy benefit of the very few, because it is not for us who love our country about perfection of liberty and freedom at all, it is about the PROMISE and the opportunity to work for freedom that is what is worth dying for, America was not perfect when they so painfully birthed it, and it never has been perfect, I doubt it ever will be, but together we can do better and we will be judged based on what we do and say toward that end. Mitt Romney is possibly the worst of what America has to offer, and Mr. Obama is seriously flawed, we just cannot make a bad mistake exponentially worse by handing power to one we know in advance will use it for evil, Obama might be misguided but he is not an evil man. Even when he fails he sincerely thinks he is helping and that comes from a love of America and Americans, Romney is a self serving and willing tool of those that do not even bother to hide their contempt for American values. And so ironic too that his supporters believe themselves to be upholding American values when they are so stupidly conned into working for the very same evil that would end America forever. Skynet is built, they will be the ones to push the START button. There is an image for you William, Romney hitting the ON button for SKYNET!

Thu, 09/20/2012 - 14:13 | 2815662 walküre
walküre's picture

Mitt Romney is possibly the worst of what America has to offer, and Mr. Obama is seriously flawed, we just cannot make a bad mistake exponentially worse by handing power to one we know in advance will use it for evil, Obama might be misguided but he is not an evil man.

If you feel that way and I feel that way, I just wonder how many Americans are feeling the same way? I wasn't t a fan of Obama in 2008. Far from it. I didn't like the hype, good and bad. Fell almost into the GOP trap busily trying to paint the picture of the "illegitimate President, from Kenya, listening to the hate preacher, being a community organizer" and so on and so forth. Sat the election out because I realized McCain wanted to lose badly.

I can ascertain today that Obama surely disappointed THOROUGHLY. He disappointed his supporters as well as his enemies. The hype turned out to be complete bullshit balloney. "hope and change" weren't delivered and Black Panthers aren't occupying the White House either.

Instead the sad truth is that despite all the hype, the sitting President is shill for Wall Street as much as any of the others were and will be. Blankfein said something to the extent that "austerity would hurt America's economic recovery". In other words, Goldman Sachs isn't supporting Romney who announced a balanced budget if he were to become President. Not that I'd believe for a minute of Mittens to reign in government spending and put the austerity breaks on. What's next, raising interest rates so the holders of synthetic and artifical wealth get to rape the country harder?

The red team, blue team exercise is futile. It only assists the banks in dividing and conquering the country. All roads lead to Rome. All of America belongs to the private bankers. The sooner we all realize that, the sooner we can do something to change it.

Thu, 09/20/2012 - 12:52 | 2815382 BeetleBailey
BeetleBailey's picture

Well said boil....excellent

Thu, 09/20/2012 - 12:07 | 2815187 ronaldawg
ronaldawg's picture

Yeah Socialism Yay /sarcasm off

Thu, 09/20/2012 - 12:00 | 2815154 williambanzai7
williambanzai7's picture

The human brain is visually dominated. The interesting thing is how effectively images can be deployed adversarially along with written content.

I'm lucky to be comfortable dealing with both.

You served and made a real sacrifice. Anyone who accuses you of being a social parasite is in for some bad karma.

Hat tip to you

Thu, 09/20/2012 - 11:49 | 2815146 walküre
walküre's picture

Very well put. Thank you for your services to the country. Doesn't matter how you, I or anyone feel about our foreign policies that put your life in danger in the first place. You probably enrolled under very different circumstances and with a different set of convictions than you find yourself in these days.

You point out correctly that Romney's dinner speech probably addressed the biggest leeches and parasites any country has ever know while denouncing almost a majority of citizens as "victims". The man obviously has some very twisted world views and WBs "Oliver Twisted" cartoon doesn't even come close as to how twisted Mitt Romney's view of the world really is. Being a devout mormon is scary enough to anyone outside of the cult but putting down close to 50% of all Americans as moochers is going much deeper.

Mitt Romney is the classic Manchester Capitalist who made his fortune on the backs of the labor of many good men and women. His wife is Marie Antoinette personified. Yes, I am going there. Put Mitt and Ann Romney in the White House and this country will see the bloodiest revolution any country has ever witnessed.

The fuse has been lit. The gloves are coming off. "Commies" or "terrorists" are the last thing the American elite has to worry about. Romney's unedited remarks on "47% of Americans" is the perfect verbal ammo to incite hate.

Thu, 09/20/2012 - 13:18 | 2815479 boiltherich
boiltherich's picture

Thank you Walkure and others that gave him the green arrows of agreement, in 1975 when I was a child of 17 it was a different world and I was rather naively patriotic, I still love America and still owe it my life and blood, but I want America to know the responsibility and faith has to be a two way street in which fundamental fairness is enforced for all. Today I say REAL patriotism is the daily duty of all of us to do what we know is right no matter the personal cost to us, after we have done our duty we get the the world envied freedom and liberty, because it is not automatically bestowed on people who believe themselves superior by dint of a large net worth as the right would have you believe, it is in fact earned by keeping America alive and energetically free through hard work and sacrifice. From all of us. It cannot be bought with a huge political campaign contribution or by whining about your taxes. You want to fix the fairness and expense of taxes? Then FIX the unfairness and kleptocratic values of a system that is destroying America, because if you allow her to get any sicker she will die and you will have nothing you can call your own, least of all a voice or "liberty."

Thu, 09/20/2012 - 11:22 | 2815057 George Washington
George Washington's picture

Mr. Banzai, I like how no one is safe from your razor-sharp wit.

I also - like everyone else - is so inspired by your parodies that I want to feed you ideas ("quantitative sleaze?"), but I know you have enough of your own ...

Brilliant, sir, brilliant ...

Thu, 09/20/2012 - 11:32 | 2815084 williambanzai7
williambanzai7's picture

Regular people are all safe. Thieves and scumbags are not safe.

You will notice I have decided to start including editorial in my posts again. I have decided it is now necessary to weaponize my commentary along with the acerbic wit of the Limerick King ;-)

Thu, 09/20/2012 - 14:10 | 2815650 BeetleBailey
BeetleBailey's picture

WB; your work is getting better all the time! Kudos! You should get some web awards...you've earned it.

Keep banging the truth brother!

Thu, 09/20/2012 - 11:09 | 2815015 clawsthatscratch
clawsthatscratch's picture

Did you ever use the Dune Harkonnen pics? The uber rich seem so Harkonnenian (sp?) :)

Thu, 09/20/2012 - 10:57 | 2814991 deepsouthdoug
deepsouthdoug's picture

banzai - If you haven't done it, I'd love to see you do something with Malefactor Mitt's tax returns.

Thu, 09/20/2012 - 11:38 | 2815107 Mercury
Mercury's picture

It would be a graphic reflection of what Mitt did with our massively complex and F'd up tax code.

Thu, 09/20/2012 - 10:24 | 2814871 “Rebellion to t...
“Rebellion to tyranny is obedience to God.”-ThomasJefferson's picture

Banzai, will you please help the treasury dream up some new denominations of currnecy? The billion dollar tarp coupon is a great start, but we're going to need a lot more bills with a lot more pictures. Thanks.

Thu, 09/20/2012 - 10:46 | 2814956 Gully Foyle
Gully Foyle's picture
Neil Young And Crazy Horse - Welfare Mothers


"Welfare Mothers"

People, pick up
on what I'm puttin' down now

Welfare mothers
make better lovers

Down at every
Laundromat in town now

Welfare mothers
make better lovers

While they're washin'
you can hear this sound now

Welfare mothers
make better lovers


Hard to believe
that love is free now

Welfare mothers
make better lovers

Out on the street
with the whole family now

Welfare mothers
make better lovers

Hard to believe
that love is free now

Welfare mothers
make better lovers


People, pick up
on what I'm puttin' down now

Welfare mothers
make better lovers

Down in every
Laundromat in town now

Welfare mothers
make better lovers

While they're washin'
you can hear this sound now

Welfare mothers
make better lovers


Thu, 09/20/2012 - 10:28 | 2814892 williambanzai7
williambanzai7's picture

I already have a bunch. Maybe I'll put them all together.

Thu, 09/20/2012 - 10:02 | 2814785 Crassus
Crassus's picture

Lovely and highly marketable coupon (without the dollar sign). Worthy of The American Banknote Co.

Thu, 09/20/2012 - 10:00 | 2814777 Stuck on Zero
Stuck on Zero's picture

The bigger and more powerful government gets the bigger and more powerful the uber-wealthy gets. Fact of life.


Thu, 09/20/2012 - 10:19 | 2814853 optimator
optimator's picture

We'll be like the S. American Tin Horn countries were, only the very rich and the very poor, NO middle class.  The only group left that hinted of middle class were the troops used by the Rich to keep the Poor in line.  They needed a lot of troops as in those days they didn't have drones, NSA, FBI, CIA, RSA,

Thu, 09/20/2012 - 09:57 | 2814759 OneTinSoldier66
OneTinSoldier66's picture

You can tell those Wall St. Welfare Queens sure have the hots for BS Bernanke with those tattoos!

Thu, 09/20/2012 - 10:01 | 2814699 Mercury
Mercury's picture

Pay no attention to the pinstriped men behind the curtain folks, collectivism and wealth redistribution are the real scourges at the root of all of your problems.

Well, wealth redistribution in the upward direction is the beef here - no?

And collectivism is just the lipstick on the pig of big government which is all about itself.

Collectivism means big government. But big government is really the goal, the actual collectivism part rarely amounts to a few pennies and bones here and there to keep enough votes coming in to maintain the system.

 Big government means lots and lots of rules, licences, programs, transfer payments, rent-seeking, fees, taxes and bullshit of limited if not negative public utility.

Lots of -all that- means lots of loopholes, niches and opportunities for motivated, connected and smart financiers to position themselves to skim from the gushers of money spewing from the biggest vampire squid of them all, the state.

For a massive, all-powerful state to maintain and grow itself it needs to feed the top 1% and the bottom, voting 51%. Unsurprisingly the top 1% is a lot better at ensuring that the government actually delivers on it's promises than the bottom 51% who keep voting themselves more and more "security" in exchange for less and less liberty. The middle 48% are the biggest losers but they can go pound sand.

So yeah, a much smaller, less invasive and limited government would pull the rug out from under a lot of this.

Hong Kong didn't get to be Hong Kong via central planning and a massive network of crony capitalists.

Thu, 09/20/2012 - 10:08 | 2814812 InconvenientCou...
InconvenientCounterParty's picture

Hong Kong doesn't need crony capitalism. It's just a phony moralistic rationalization using a relationship with another actor. A waste of energy.

Naked racketeering works well and takes less energy to sustain once it's established. It is symapthetic to a small government footprint.

At least its intellectually honest, unlike most libertarians who will grovel at the trough of the state with everyone they know when they need food, housing or security.

In defense of libertarians, they can generally tolerate heresy better than a Muslim.

Thu, 09/20/2012 - 11:33 | 2815082 Mercury
Mercury's picture

Well, I guess that depends on to what extent libertarians value, in addition to all that liberty, community (not the community=government kind that Obama means but an actual community where interconnected people help each other out when necessary).


Absent from your analysis is non-government social support, charity and assistance which has been very effective and quite common in the past. Government has become so pervasive that it’s easy to conclude that there is either government social support or nothing and those are simply not the only two possibilities.


This kind of community support has, in the past at least, only really worked when everyone in “the pool” has a sufficient cultural/value system overlap to foster that sense of reciprocity. “Multiculturalism” is antithetical to this (so *surprise* the only option left is more government) although very different people from very different backgrounds can adopt or assimilate into a new, common culture…which is what the motto of the USA is all about and the country used to be about.

Thu, 09/20/2012 - 10:02 | 2814786 williambanzai7
williambanzai7's picture

HK has many things right, but it is no utopia. And all the swinging dick American capitalists want to live in Singapore which is the epitome of a paternal state.

Thu, 09/20/2012 - 10:24 | 2814858 Mercury
Mercury's picture

Well, perhaps by definition city-states can never support real economic and cultural diversity (land-intensive businesses and lifestyles for instance and all the myriad exchanges that surround them) on any kind of scale and must remain the boutiques of nationhood with their own set of endemic problems.

But they may nonetheless end up being the future as technology eventually enables the splintering of increasingly irreconcilable tribes, cultures and lifestyles into autonomous "enclaves" as Neal Stephenson described in Diamond Age.

Thu, 09/20/2012 - 10:27 | 2814888 williambanzai7
williambanzai7's picture

I read it. Great book.

There local backlash that is brewing is against tycoon capitalism and the sense that here is a glass ceiling separating the tycoons and their minions from the peons down below.

Thu, 09/20/2012 - 10:34 | 2814910 Mercury
Mercury's picture

I don’t doubt that. Hopefully the resolution won’t be to give the boot to the bottom and import a bunch of permanent second class, non-citizen Filipinos and Indians to do the heavy lifting like they have in Saudi.

Thu, 09/20/2012 - 12:15 | 2815217 tip e. canoe
tip e. canoe's picture

"import a bunch of permanent second class, non-citizen Filipinos"

already happened Merc.   cool thing about HK is that these unpleasant realities are finding a way to bubble up to the surface in a way that is more constructive vs. destructive, as they do here in the West.

Thu, 09/20/2012 - 12:40 | 2815303 Seer
Seer's picture

"cool thing about HK is that these unpleasant realities are finding a way to bubble up to the surface in a way that is more constructive vs. destructive"

For now, for now...

I could say the same thing about Vancouver, B.C., which is a fairly international city with a lot of racial mixing.  Yet, I KNOW what lurks...

There are a LOT of things underneath that go unsaid, things that will be pulled from the dark and dank closets when the realities of resource shortages set in.  We'll see how well "adjusted" people are (this applies to everywhere).

Thu, 09/20/2012 - 13:18 | 2815481 tip e. canoe
tip e. canoe's picture

seer : always there to throw a bucket of ice water on my naive optimism :)

point taken, though i was not denying that there is darkness lurking everywhere, but commenting on the methods used to deal with it once it rises to the surface.

this is a very real question we should be asking ourselves & each other.

Thu, 09/20/2012 - 14:45 | 2815757 Seer
Seer's picture

Yeah...  As someone who is married to a (old school) Filipina I've got a bit more perspective on things than most: her now in a white-centric country that's on the edge of flaming has me pretty defensive (or is that offensive seeing as I'm always trying to preempt/knock down racist shit).

Thu, 09/20/2012 - 12:45 | 2815330 Seer
Seer's picture


Popularity Of Greek Neo-Nazi Party Continues Surging

This is in Germany, that economic "powerhouse."  As an export-dependent country you have to ask how this could not devolve as exports start to dry up...

Thu, 09/20/2012 - 12:51 | 2815371 williambanzai7
williambanzai7's picture

You see in China how very easy it is to stir up the embers of history.

Thu, 09/20/2012 - 15:17 | 2815879 Seer
Seer's picture

And most people (like whomever it was that down-arrowed us) don't get that it's a key perpetration by TPTB- they use it like a Manchurian Candidate.

For those who think I'm only picking on "whites," not so!  I even speak up when my wife makes what I think are racist quips: I caution her to not apply stereotypes to ALL people of an apparent race/culture; yes, I might agree that I don't like certain cultural practices, but I don't apply these feelings to every individual because we're all pretty much products of a larger culture (that often forces/compels members to "go along").

Thu, 09/20/2012 - 09:27 | 2814609 otto skorzeny
otto skorzeny's picture

No one is innocent in the USofA-from the top to the bottom.

Thu, 09/20/2012 - 09:57 | 2814756 williambanzai7
williambanzai7's picture

Yes, however there is an obvious problem with blaming people who are in the safety net.

It seemed pretty clear who blew up the economy 4 years ago. Absolutely nothing has been done to rectify that problem.

Now, we have magnified the economic condition of malinvestment. This condition has impaled organic economic growth and exacerbated thr need for so called entitlements.

The idea that mobs of unemployed freeloaders are trying to suck the wealthy dry via entitlements is a complete canard. The people who designed our hollowed about economy are the ones who are complaint the loudest.

Let me ask a simple question. Which is more difficult, starting a small Main Street dry goods store or getting a job at Walmart?

Now the only solution they have to offer is wealth to be generated by real estate appreciation or investing in stocks. What a fucking joke.

Thu, 09/20/2012 - 13:00 | 2815416 Seer
Seer's picture

"Now, we have magnified the economic condition of malinvestment. This condition has impaled organic economic growth"

Can we have a discussion about this?

"Malinvestment" requires us to identify what proper investment looks like.

Further, whether "organic" or otherwise, growth is growth.  I am still waiting for someone, anyone, to get it through my thick skull how we can have perpetual growth on a finite planet.  NOTE: if it's not perpetual then it is, by all logical/rational definitions, a BUBBLE; and, what I find is that most pushing "growth" are just in it for THEIR bubble (and then turn around and whine when they get caught up in some other bubble).

Thu, 09/20/2012 - 14:37 | 2815566 williambanzai7
williambanzai7's picture

There a two issues you are referring to, the problem of malinvestment and market efficiency and the myth of unlimited growth.

If we are to believe that markets are the optimal allocation mechanism, then having central planners interfere via monetary policy and moral hazard results in misallocations such as massively overbuilt extra suburban housing tracts and all the economic baggage that goes with it.

We have the additional theoretical question of whether hyperfinancialized algorithmically driven markets are optimal for allocating resources. I think not. We have a situation now where trading techno wizardry and formulas take precedence over fundamental analysis. The idea that synthetic CDOs, for example, priced in all the relevant factual indices of the real world has been proven a complete fallacy,

The next problem is unlimited growth. The idea that we have an unlimited abundance of resources that can be exploited without some kind of global self restraint is insanity. However, the question of who decides the best course for realizing a sustainable economic model is a political hot potatoe. It comes down to selecting a model of governance that is not solely driven by self interest and profit motive. Unfortunately, we are dominated by an economic monoculture driven by corporatist greed and radical market fundamentalism.

I don't think we are going to reach any kind of solution to this issue absent some kind a sea change in human worldview precipitated by a massive crisis. Frankly, given the current dearth of forward thinking human leadership, I don't know who is worthy of the trust necessary to decide what is best.

Thu, 09/20/2012 - 15:27 | 2815911 Seer
Seer's picture

William, I thank you for your reply.

I think that we can both agree upon the idea that "algorithmically driven markets" are NOT optimal for allocating resources.

What I was doing here (and continually try to do) is to bring forth a COMPLETE re-think of our paradigm.  My view of "BIG = FAIL" would clearly lump in the algos.  BUT!  Kicking out the algos and other bad actors wouldn't change the course if it's the same PLAY: yeah, the color and speed might be altered, but the PLAY's ending would still be the same.  This is why I strive to latch on to any/all mentions of "growth."

I do NOT expect to "solve" the "problem" of "growth."  What I DO expect is to make it more widely acknowledged as our underlying tension.  Admitting you have a problem is the FIRST step.  I am in no way smart enough to offer a solution: but I AM smart enough to understand this limitation, as well as understanding that our best destiny lies in our ability to strive free of oppressive constraints- diversity will always succeed over conformity...

Thu, 09/20/2012 - 16:19 | 2816092 williambanzai7
williambanzai7's picture

There are some interesting ideas written in the field of cultural anthropology regarding the fiction of separating economics from social context or cultural mores and how this fiction has led to the domination of an economy devoid of humanist sensibilities.

Naturally, this type of thinking is considered heresy by the market Taliban. But the point is we live in a monoculture that believes in selfish motivation, unlimited growth and proselytizes debt fueled consumerism and waste.

Thu, 09/20/2012 - 16:37 | 2816183 Seer
Seer's picture

"But the point is we live in a monoculture that believes in selfish motivation, unlimited growth and proselytizes debt fueled consumerism and waste."

Even though this is highly problematic I still cannot place the blame on individuals, as I believe we are all caught up in the stream.  I don't know where it all stems from, maybe it IS the "greed" thing, that this is the fundamental driver behind why we manage to fall prey to the types of programming of an Edward Bernays.  If, however, we can be so horribly programmed then I see no reason why we couldn't also be (voluntarily assimilate) "positively*" programmed.

* Perhaps "truthfully/factually" are better words

No matter what we're still faced with trying to figure out how to manage the resources that keep us alive.  If we all become the same, like ants, then maybe that's the way: though this is basically analogous to "socialism."  Or we continue with the "smarter" monkey thing, in which case there are "smarter" monkeys in the group (entities being a bit more equal than others).  Monkey Trap?

Thu, 09/20/2012 - 11:01 | 2814999 Boxed Merlot
Boxed Merlot's picture

Now the only solution they have to offer is wealth to be generated by real estate appreciation or investing in stocks...



The US had, prior to the REIT debacle, a pretty decent thing going for the advancement of persons in poverty by way of real estate ownership. Far more wealth is created through zoning laws than could ever be earned by 9 to 5 work, but the opportunity still existed for those willing to learn and employ the system.

The US continues to allow any entity to own real estate within our geo-political influence as long as the property taxes are kept current. This differs greatly from most any other country on earth. This is also the source of the perceived weakness international bankers, foreign and domestic pension funds and their willing accomplices in the US legislative and executive branches have taken advantage of.

Had the rule of law been followed and enforced, this entire episode would never have occurred. All those responsible for the ill-conceived REIT plundering need to be hunted down and exterminated for their terrorist and / or treasonous activities. imho.


Thu, 09/20/2012 - 13:09 | 2815456 Seer
Seer's picture

If not REIT it would have been something else to push the envelop of the perpetual growth on a finite planet meme.

Eventually the clock is going to run out.

I see your "solution" to be beneficial to those who wish to divide: keep racism alive.  NOTE: not arguing about how things go down around the globe (my wife owns a home in her native country, where I would not be able to do so); the difference in your proposal would be that it's a big change over the existing (whereas elsewhere it's been the [adjusted] norm); think of it as the caution that one shouldn't look to engage in any discussion or admonishments when the relevant parties when the heat is on, when one or both parties are over-charged by some event (either related or unrelated).

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