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Risk Off!

Submitted by George Washington on 08/04/2011 21:06 -0400

For further context, see this, this, this, this, this, this, and this.

Background for the picture: Captain Christopher Stricklin ejects from the U.S. Air Force Thunderbirds number six aircraft less than a second before it impacted the ground at an air show at Mountain Home Air Force Base, Idaho, Sept. 14th.

H/t Business Insider.

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Fri, 08/05/2011 - 01:24 | 1525787 Haole

LMFAO!!!

Thanks George, I needed that this evening. ;)

Fri, 08/05/2011 - 01:20 | 1525781 StychoKiller

Re: the picture -- "Saved by silkworms!"

Fri, 08/05/2011 - 00:52 | 1525743 gangland

what austerity? you got 50 engineer jobs in california to think about.

pentagon spends (AT LEAST) $23 billion on...drones.

"The US will drop billions on defense spending with the purchasing of 55 Global Hawk drone planes over the next few years.

Each at a price tag of $218 million (PER JOB) — ten times the price of the largest armed attack drone."

Fri, 08/05/2011 - 00:09 | 1525663 automato

I have some money. Not a lot of money but a little that I want to loan out so that I can help someone that needs it and maybe make a little for myself in the process. Believe it or not, that is the basis for our entire SYSTEM. When the system functions normally, I get a decent return say 3-5% per year and all is right with the World. When the system is corrupt, governments piss away my money on stupid projects just to piss away my money and pay off their friends and I get pissed! Now I am not so willing to loan out my money any more and I take it back. I put it away where YOU will never see it again until you offer me a MUCH, MUCH, HIGHER return say 10-15% or more per year like Gold and Silver or I just hide it until I feel it's safe to come out again. This may take a LONG, LONG, time. Hope we all make it.

Thu, 08/04/2011 - 22:51 | 1525471 Die Weiße Rose

I think you were meant to say:

pull up, pull up, pull up.....

well, too late.... now you pulled it off !

Thu, 08/04/2011 - 22:31 | 1525433 JPM Hater001

So the site must be working out the server...after a day like today I would expect ZH to light up like a Christmas tree...I shorted banks and as of today I am up 63%. Do I hold or sell?

The big question is...does the market go up or down from here?

Just kidding. Sky is the limit...or should I say ground is the limit...

Pull it! Pull it! Pull it!

Thu, 08/04/2011 - 22:18 | 1525400 boredbutdeadly

How amusing.

Maybe we need more government to fix the problem.

Thu, 08/04/2011 - 21:59 | 1525349 wang (not verified)

doesn't Blodgett get enough kliks without you using ZH to direct more traffic to his site

Fri, 08/05/2011 - 00:23 | 1525706 MayIMommaDogFac...

MayIMommaDogFace2theBananaPatch's picture

OK -- your avatar had me totally mezmerized for about a minute, before I actually figured out what I was looking at.

For a moment though, it was WTF!

Thu, 08/04/2011 - 22:10 | 1525380 Fish Gone Bad

Risk off is right. Anyone without a plan b just got an ass whip'n. Anyone without a plan c is probably going to have a real shit day tomorrow.

Money moves with tidal forces. It goes in to one thing and out of another as it moves around. All this "prosperity" that people have been seeing for the last few years was NEVER supposed to have been here. QE3 will be here soon enough, but not until all the big money on the other side of the risk trade is done making a lot of peoples' lives more interesting.

Thu, 08/04/2011 - 21:46 | 1525325 Buck Johnson

My dad was in the Air force and we were stationed at Mountain Home Air Force Base in the 70's. I'm glad the guy got out, but hearing about this bring back memories.

Thu, 08/04/2011 - 22:06 | 1525304 gangland

New Book:

Winner Take All Politics: How Washington Made the Rich Richer – and Turned it s Back on the Middle Class - by Jacob S. Hacker

From the publisher's website:

Description

"A groundbreaking work that identifies the real culprit behind one of the great economic crimes of our time— the growing inequality of incomes between the vast majority of Americans and the richest of the rich.

We all know that the very rich have gotten a lot richer these past few decades while most Americans haven't.

In fact, the exorbitantly paid have continued to thrive during the current economic crisis, even as the rest of Americans have continued to fall behind. Why do the "haveit- alls" have so much more?

And how have they managed to restructure the economy to reap the lion's share of the gains and shift the costs of their new economic playground downward, tearing new holes in the safety net and saddling all of us with increased debt and risk?

Lots of so-called experts claim to have solved this great mystery, but no one has really gotten to the bottom of it—until now.

In their lively and provocative Winner-Take-All Politics, renowned political scientists Jacob S. Hacker and Paul Pierson demonstrate convincingly that the usual suspects—foreign trade and financial globalization, technological changes in the workplace, increased education at the top—are largely innocent of the charges against them.

Instead, they indict an unlikely suspect and take us on an entertaining tour of the mountain of evidence against the culprit.

The guilty party is American politics.

Runaway inequality and the present economic crisis reflect what government has done to aid the rich and what it has not done to safeguard the interests of the middle class.

The winner-take-all economy is primarily a result of winner-take-all politics.

In an innovative historical departure, Hacker and Pierson trace the rise of the winner-take-all economy back to the late 1970s when, under a Democratic president and a Democratic Congress, a major transformation of American politics occurred.

With big business and conservative ideologues organizing themselves to undo the regulations and progressive tax policies that had helped ensure a fair distribution of economic rewards, deregulation got under way, taxes were cut for the wealthiest, and business decisively defeated labor in Washington.

And this transformation continued under Reagan and the Bushes as well as under Clinton, with both parties catering to the interests of those at the very top.

Hacker and Pierson's gripping narration of the epic battles waged during President Obama's first two years in office reveals an unpleasant but catalyzing truth: winner-take-all politics, while under challenge, is still very much with us.

Winner-Take-All Politics—part revelatory history, part political analysis, part intellectual journey— shows how a political system that traditionally has been responsive to the interests of the middle class has been hijacked by the superrich.

In doing so, it not only changes how we think about American politics, but also points the way to rebuilding a democracy that serves the interests of the many rather than just those of the wealthy few."

this isnt about ideology, it's not about government size, or spending,

this is purely a class war. that's it, that is all this is. pure rank greed.

a neo-gilded age of public and private corruption at all levels of society coordinated by and under the boot of the robber barons of finance capital.

maybe only after another financial crash/crisis, will these facts be finally accepted cognitively and dealt with.

douchebags biggs was saying the fed's qe3 will be buying actual homes. I cannot wait to find out which ones theyre buying.

Neo-liberalism sucks.

Fri, 08/05/2011 - 01:46 | 1525811 gangland

"Obama and his advisors [are] playing a different game.

They decided they could use a debt crisis created by Republicans to push through cuts to Social Security and Medicare in a manner that would provide the President with plausible deniability.

In other words, Obama could claim “They made me do it!” while achieving what his Wall Street backers want – maintaining Global Capital’s police force on the backs of working folks, the middle class and the poor.

Global Capital – operating through governments (CONGRESS), the International Monetary Fund and other international institutions - uses political crises to impose structural economic and government changes which invariably function to transfer wealth from workers and the middle classes to international banks and capitalists.

We have seen this strategy migrate from the Global South – the so-called “Developing World” – to the North; workers in Greece, Ireland, Portugal, Spain and Great Britain are now also paying the price. When one strips away the rhetoric, it becomes clear that the Obama Administration has brought the same approach home to America.

Global Capital needs the empire but it does not want to pay for it.

Wealthy Americans also refuse to bear the burden (neither in blood, nor in treasure).

That necessitates transferring the cost of empire to US workers, the poor and middle class.

Obama is committed to maintaining the empire and its police force – the US Military.

While he would prefer that rich American’s share the burden (yawn), when push comes to shove he will sacrifice fairness to the interests of his Wall Street backers.

Obama is the instrument by which Global Capital hopes to secure cuts in Social Security and Medicare necessary if working, poor and middle class folks are going to be made to pay for the empire.

While claiming that he wants to cut military spending, Obama actually requested a $26 billion increase in military spending for the 2012 fiscal year.

The Republican House recently approved a $17 billion increase. The debt/budget deal ostensibly cuts $350 billion from military budgets over the next ten years.

However, automatic increases for inflation could offset the entire amount.

The US Military – global capitalism’s global cop – is unlikely to sustain real and substantial budget cuts.

The Obama Presidency is Global Capital’s creation and he is their man.

The Obama White House has now delivered part of what Global Capital demanded: the debt/budget deal will shift more of the economic burden of empire from corporations and their owners (aka the rich or monied interests) to working people and the poor.

Obama has not yet been able to raid Social Security and Medicare.

But the Debt/Budget Deal holds within it the means to that end as well.

Through it Social Security and Medicare can be cut and most in Congress can claim they did not vote for those cuts. I can almost hear Nancy Pelosi rhetorically wringer her hands on camera now. "

http://counterpunch.org/pace08042011.html

Neoliberalism sucks. Neo-liberalism is the tool by which the U.S. extends its hegemony.

sources:

NSC68, National Security Council Memo 68 (1950) Dean Acheson, Paul Nitze :

"rollback strategy would require sacrifice and discipline" aka increased military spending coupled with cuts to social services. (this did not happen until beginning in 1971)

PPS23, Policy Planning Study 23 (1950) George Kenan US DEPT STATE:

"It is urgently necessary that we recognize our own limitations as a moral and ideological force...Furthermore, we have about 50% of the world's wealth but only 6.3% of its population.

Our real task in the coming period is to devise a pattern of relationships which will permit us to maintain this position of disparity (pensions, 401ks et al) without positive detriment to our national security.

To do so, we will have to dispense with all sentimentality and day-dreaming;

We need not deceive ourselves that we can afford today the luxury of altruism and world-benefaction.

We should dispense with the aspiration to “be liked” or to be regarded as the repository of a high-minded international altruism.

We should stop putting ourselves in the position of being our brothers' keeper and refrain from offering moral and ideological advice. (it's just business)

We should cease to talk about vague and...unreal objectives such as human rights, the raising of the living standards, and democratization. " (it's just business)

In other words, we must do away with the idea that governments are directly responsible for the welfare of their people and substitute instead,

the idea that prosperity is possible only to the degree to which people (including of course domestically) are subordinate to US finance capital and dollar hegemony (integral or light).

Fri, 08/05/2011 - 09:27 | 1526504 agNau

U.S. Military is tenth largest user of oil in the world. We are engaged in conflict in Afghanistan, and Iraq, while waiting for precise time for Israel's move on Iran. Last report was three carrier groups in the ME. If noted geographically, when we engage Iran, a crescent of US military control beneath, and separating the ME from Russia, China.
Is it any wonder this administration rolls to Muslim friendship?
*Libya - control fits nicely with this plan as well. ( Mediterranean Sea)

When economic pain on global scale reaches intense levels, war comes.

Thu, 08/04/2011 - 22:50 | 1525466 CompassionateFascist

Two "political scientists", one Tribal, one shabbatz goy, and the usual neo-Marxist claptrap. Let's see...did we ever have a Poli Sci Professor for a Prez? Ohyeah, Woodrow Wilson. The Fed. Income tax. WW I. All his doing.

Thu, 08/04/2011 - 22:26 | 1525419 Seer

What a bunch of dumb-fucks. In case you didn't catch that- WHAT A BUNCH OF DUMB FUCKS!

Anyone who is still in denial that this isn't the result of a massive grab on the future deserves to be flushed down the toilet with shit like this. Not only can perpetual growth on a finite planet NOT continue, but RAPID rates of growth only expedite the time of reckoning. No, stupid fucks, it's NOT about politics- that is what TPTB want you to believe (so that you continue to be distracted by B.S. like this).

Thanks for playing!

Fri, 08/05/2011 - 02:26 | 1525840 jmc8888

Wow. Finite planet....in an infinite universe.

Where if we conquer fusion, we literally can create any of the elements in said universe.

You realize that elements 1-26 are directly created in the sun (or more correctly in a star, given where it is on it's life cycle, depending on how massive it is...and thus how long it lives...and how far along the process of creating other ...since to ignite each of the elements it outputs...right now our sun's waste is Helium, once enough is created it will start fusing He and start producing Carbon and Oxygen and waste, so on and so forth ....for supernova's you have to have enough to get all the way to Iron where kablooey)

27 onwards are created by a supernova...as it is collapsing (which can reach speeds of at least 1/2 the speed of light)

People need to get their heads out of their asses. FINITE PLANET...yep an all there is in this universe is THIS PLANET.

Of course what is fusion? Oh that's right

Mankind can never do that? Well hell a rude and crude version was dropped on Hiroshima and Nagasaki. We look up everyday and can see a continuing fusion process. We see stars in the night that are endless (except when city lights get in the way).

Yet people still talk about finite planet, and fusion isn't possible. Yeah, and man would never fly.

Glass-Steagall

Thu, 08/04/2011 - 22:15 | 1525387 Thievery Corporation

Thu, 08/04/2011 - 21:38 | 1525294 jon

"HOOOOOOOOOWHEEEEEEEEEEE

...alright, where's the next one?"

Sat, 08/06/2011 - 01:52 | 1525288 gangland

I am a huge fan of the UMKC faculty. They have mike hudson, randall wray, and bill black, among many others.

Here is Randall Wrey :

"....largest financial institutions are cooking their books, their most recent profits are mostly FALSE....bank profits have come from REDUCING their loan loss reserves..." (SEE REGGIE MIDDLETON ON THIS)

"they are setting aside less money to deal with bad debts"

http://pragcap.com/randall-wray-the-crisis-is-not-over

Thu, 08/04/2011 - 21:26 | 1525248 gangland

dirt cakes bichezzz

http://news.nationalgeographic.com/news/2008/01/080130-AP-haiti-eatin.html

"Charlene, 16 with a month-old son, has come to rely on a traditional Haitian remedy for hunger pangs: cookies made of dried yellow dirt (mixed with margerine and sugar, yum! healthy too!!) from the country's central plateau."

but hey dont worry, ac360, sean penn and CGI are all over it! have been helping for years now.

just look at bubba, isnt he the worst slimy salesman? feels your (investment) pains dont he?

he disgusts me as do all the rest of them, barry the shrub, his poppy et al.

watching this crap is like watching a bunch of screaming hyenas tear apart a baby gazelle while it is still alive.

http://www.youtube.com/watch?v=m4HfaytTVzM

dirt cakes and ipad diet for all! #winthefuture!

Thu, 08/04/2011 - 23:07 | 1525500 CompassionateFascist

Some time back, the Dark Folk in Haiti massacred all the whites. Now they reap what they sowed. Ditto Zimbabwe, soon S. Africa as well. Eventually America too, if the open borders NY/Hollywood/DC crowd continue to have their way with us. Like your version of the U.S. Flag, tho....keep the running shoes handy.

Fri, 08/05/2011 - 05:59 | 1526027 AnAnonymous

But did they 'reap what they sowed before massacring all the whites' as you stated? What was their condition before that massacre?

By the way, they did not massacre on terms of whitness but on terms of nationality. They massacred French. Many testimonies showed actually that french people used that loophole to flee safely the island, picturing themselves as English or Spanish.

But hey, clean cut, convincing propaganda is no longer what it was in this US world order and all we are subjected to is cheap propaganda like yours. And that is a real drag on resources...

Sat, 08/06/2011 - 01:57 | 1529762 gangland

youre surgical with that shit.

Thu, 08/04/2011 - 21:49 | 1525332 jo6pac

They have oil and don't know it or have any control over their lives. Please let this be a reminder of what happens to slaves that win their freedom. The losers never forget and will crush you in the end. Serfdom Amerika

Yes, bubba is the problem like so many others

Risk Off!

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