• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Summing It All Up...

Tyler Durden's picture


Excerpted from "Ignorance by Consensus" posted by at FEASTA,

But, very briefly and acknowledging some contention, the conditions for concern might be summarized as follows.


We are trying to comprehend our world within the world-views and economic orthodoxies developed over an extra-ordinary, two-hundred year period of compound economic growth. This growth was coincident with increasing wealth, complexity and globalized integration. Part of our dominant consensus is that this trend will continue. Much of what is important to us, how we live, our expectations, what we value and hold dear, was shaped by this process. And we, the global 10%, have done well out of it.


The fringe view is that this growth is over – we are at the limits to growth, now. At issue is the stability of the globalized economy. We are moving into a deepening global deflationary depression, interspersed with dangerous and possibly irreversible shocks to the systems that support our basic welfare. We will lose much of what we take for granted and things we have come to call our own. We are entering an era of real danger and unpredictability.


This is because we are at an historic point of convergence. Firstly, we have reached the limit in the credit backing of our financial, monetary and banking system. We are at the same time hitting profoundly destabilizing ecological limits preeminent at this time is that we are almost certainly at the peak of global oil and food production. Put another way, we are at the limits of the system of trust and solvency that underpins the trade upon which we depend. We are at the limits of the least substitutable energy source that, by the laws of physics, is necessary for economic maintenance and growth. We are at the limits of our most fundamental human sustenance. They are the three most critical structural pillars of the globalized economy. Like a three-legged stool, the whole system can become destabilized by the buckling of just one.


In addition, and almost completely unacknowledged is that the changing nature of the globalized economy – increasing integration, complexity, speed and inter-dependence – has made us very much more vulnerable to this convergence. Further, such complexity makes it very difficult, or even dangerous to try and ‘fix’ its parts.


If we were to acknowledge such a fringe view we would be urgently preparing for profound change – for when real change is forced upon us we may have much less room for manoeuvre. We would be embracing austerity because of its inevitability, and in doing so, transform it. From top to bottom, we would be working on our food security, the resilience of critical services such as sanitation, monetary systems, governance, and re-working work. We would have begun the personal and collective psychological processes that might allow us avoid some of our species most destructive passions that can emerge in a time of crisis, and instead use it as a source of creative and positive change.


Of course, no detailed explanation for such a fringe view has been provided here. For most though, none is needed. They already know this view is nonsense. Why worry, it’s a fringe view… why with shale gas, technology, markets, stopping austerity, green growth, changing the monetary system, getting rid of the ‘wrong’ people….so many options! Anyway haven’t people been saying such stuff since the time of Malthus, and they’re still wrong! Aren’t the experts in control?! But an economist said…! Quite….quite.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 11/13/2012 - 20:05 | 2978052 Gully Foyle
Gully Foyle's picture

Henry Chinaski

Or, Obama is really a Muslim sleeper agent who will fake his own death. Thus putting into play an ingeniously devised plan of which the first piece was selecting Biden as a running mate.

( Biden 2016, don't call my ass at 3 am I need my rest)

Tue, 11/13/2012 - 21:42 | 2978378 Seer
Seer's picture

Well, it looks like Elmo's out...

Have to admit, Biden's kind of a likeable puppet, in a Gerald Ford sort of way...

Tue, 11/13/2012 - 19:32 | 2977943 Henry Chinaski
Henry Chinaski's picture

It's rule by least-common denominator. No one gets to the top levels of this government unless there is a skeleton in the closet that can bring them down.  Makes people tow the line.  Sounds like these Generals were selected for their positions based on their corruptibility.  Next up: more top level "suicides." 

Tue, 11/13/2012 - 20:02 | 2978037 bank guy in Brussels
bank guy in Brussels's picture

For conspiracy connoisseurs re Petraeus etc. ... from a wild Irish site, always claiming sources in Russian intelligence ... fun reading to be handled with caution ...

« Obama Prepares To Flee As Coup Topples Another General ...

President Barack Obama is preparing to leave the United States for a clandestine meeting on Diego Garcia this coming week with those top military commanders still loyal to him in an effort his regime is making to head off a growing coup-plot ...

... list of top American military officers to be toppled in the past 3 weeks, and which includes, Former US Army General and CIA Director David Petraeus, Rear Admiral Charles M. Gaouette, US Army General Carter Ham, Brigadier General Jeffery A. Sinclair, and US Navy Commander Joseph E. Darlak ... »


Tue, 11/13/2012 - 20:19 | 2978093 knukles
knukles's picture


That's the betting of the smart money.

Seven Days in May

Way too many top Admirals and Generals being relieved of command, in one case being so discharged by immediate subordinate (aka arrest) two more embroiled in "sex scandals" which were being investigated by the Feebies (their job is internal security/police, treason, etc.)

Come on people, simple pattern recognition, here.

Question is will there be show trials or not?
Can make a cogent case either way.

Remember, to defend against all enemies, foreign and....

Tue, 11/13/2012 - 20:42 | 2978179 nmewn
nmewn's picture

If it continues, yes, the purge is on.

I'm sticking with my original assessment on Petraeus. He was leaking the info on Benghazi after initially saying it was a video. Then he actually went to Benghazi...himself, to confirm what he was being told by his subordinates, in late October. And as we all know, the FBI (the investigator/slash scandalous leaker...lol) is under the DOJ, which is run by...

Tue, 11/13/2012 - 20:32 | 2978144 Dr. Engali
Dr. Engali's picture

They aren't the only ones talking about that.

Tue, 11/13/2012 - 20:57 | 2978234 Seer
Seer's picture

Pretty good bet that if you peek under that skirt you'll see a bunch of MOSSAD.


Tue, 11/13/2012 - 18:09 | 2977729 Hayabusa
Hayabusa's picture

I read it and realized two things:  1)The author's glass is not 1/2 full, but all the way full.  2)Calidreaming is right.

Tue, 11/13/2012 - 19:41 | 2977896 Zero Govt
Zero Govt's picture

the author's glass is running on empty like his head

another peak hysteric a baseless emotion reached having nothing between the ears to provide solidity

Tue, 11/13/2012 - 21:07 | 2978263 Seer
Seer's picture

It's all based on sound math.  And of all people, YOU should know about math given your Zero-ness: multiply anything by zero and you get zero, ain't that right, Zero?

Ever notice that you're overwhelmingly knocked down whenever you pipe up with this shit?  Stick to rooting for Zero government, as that seem the only area that you have any firm grasp of...

Tue, 11/13/2012 - 18:10 | 2977731 MachoMan
MachoMan's picture

Wouldn't our present situation be more like a stool turned upside down and a guy with a whip standing beside it with his arms out, gesturing for us to find a leg to sit on?  (and us running around frantically going lalalalalaal noononononono)

Tue, 11/13/2012 - 20:22 | 2978111 Fredo Corleone
Fredo Corleone's picture

What you describe suggests the image of a Maplethorpe "opus."

A propos, for the current nation, its moral condition, and time.

Tue, 11/13/2012 - 18:11 | 2977734 TeamDepends
TeamDepends's picture

Clearly a Marxist stool.

Tue, 11/13/2012 - 18:12 | 2977736 Opinionated Ass
Opinionated Ass's picture

We are moving into a deepening global deflationary depression

We're moving there now? Really? Yippee!! Finally we can pick up some good deflated bargains and correct all the malinvestment of the inflationary boom stupidity!

Tue, 11/13/2012 - 20:37 | 2978165 THX 1178
THX 1178's picture

Can we pick up a Mars Bar and a Coca-Cola too?

Tue, 11/13/2012 - 18:12 | 2977737 Lost Wages
Lost Wages's picture

Now the market is a three-legged stool. Will there ever be any shortage of metaphors?

Tue, 11/13/2012 - 18:15 | 2977747 Cheesy Bastard
Cheesy Bastard's picture

It's more of a stool sample.

Tue, 11/13/2012 - 19:06 | 2977874 ilovefreedom
ilovefreedom's picture

That's a crappy metaphor.

Tue, 11/13/2012 - 19:26 | 2977928 Cheesy Bastard
Cheesy Bastard's picture

Imagine if the legs were not well attached.  Then it would be a loose stool.

Tue, 11/13/2012 - 19:30 | 2977940 Gully Foyle
Gully Foyle's picture

Cheesy Bastard

Stool Pidgeon, work with that image.

(Biden 2016, humina, humina, humina)

Tue, 11/13/2012 - 20:23 | 2978117 knukles
knukles's picture

If one watches to see as opposed to simply looks, Plugs is being groomed for 2016.... It's obvious.  He always walks behind and usually to the right of Obie.
Think pa gentry, of Kings and Queens....

It's not an accident.

Pattern recognition.

Just like the Mayor of the City of London (the 1 sq mile London) during the annual parade, the Queen walks behind and to his right....
There's a reason..........

Tue, 11/13/2012 - 19:38 | 2977970 akak
akak's picture

Wow, that one really boweled me right over!

Tue, 11/13/2012 - 20:05 | 2978054 Diogenes
Diogenes's picture

When the stool hits the fan.

Tue, 11/13/2012 - 21:10 | 2978275 Seer
Seer's picture

And... if it were liquidated it'd be a Runny Stool!

Tue, 11/13/2012 - 21:24 | 2978313 willwork4food
willwork4food's picture

good thing you didn't make that.

Tue, 11/13/2012 - 21:46 | 2978388 Seer
Seer's picture

Good thing that there's nothing original in what you're saying (saves brain power0!

Tue, 11/13/2012 - 18:20 | 2977758 Bay of Pigs
Bay of Pigs's picture

A one legged man in an ass kicking contest?

Tue, 11/13/2012 - 18:51 | 2977830 Yen Cross
Yen Cross's picture

 You old salt! That was thought of many posts ago!

  We saved it just for you. Arrrhh/

Tue, 11/13/2012 - 19:35 | 2977941 Gully Foyle
Gully Foyle's picture

Bay of Pigs

Paul McCartney got his ass kicked by a one legged chick.

(Biden 2016 rock on)

Tue, 11/13/2012 - 21:03 | 2978161 Winston Churchill
Winston Churchill's picture

Or graduate of the school of  one legged limbo dancers.

With student loans of course.

Tue, 11/13/2012 - 19:05 | 2977870 New_Meat
New_Meat's picture

I'm still searching for green shoots, and now "fiscal cliff" is taking over.

Tue, 11/13/2012 - 20:27 | 2978124 knukles
knukles's picture

Can't have everything...


(And remember, FEMA closes on all national and state holidays, snow and rain days as well as when absolutely needed.  Please check ahead for our schedules.  By appointment only.  You will need 7 forms of acceptable photo ID for assistance.  Don't call us, we'll decide when to call you.)

Tue, 11/13/2012 - 18:13 | 2977741 AgShaman
AgShaman's picture

We've only hit peak food production compared to world population because there's a lot fewer involved in agri-business.

Should've written "Peak Laziness" in society

There's probably alot of college graduates complaining about too few jobs available, but how many of them would have the power to do any labor that didn't involve screwing around on their iPhones all day long and getting paid for it?

Society "peaked" before the planets resources.....it's inhabitants are just too cowardly to admit it

Tue, 11/13/2012 - 18:39 | 2977804 Radical Marijuana
Radical Marijuana's picture

The harnessing of inanimate energy made human beings doing any physical work relatively stupid, because it was too inefficient.  The problem is that we are nowhere nearly intelligent enough, only barely enough to have gotten ourselves into serious trouble. "Laziness" always only operates within some schedule of reinforcement for one's activities. We have had multifaceted "peaks" in every direction. Small percentages of the population have made sciences and technologies possible that have rendered almost everyone else obsolete and unnecessary. Those who were the best at being dishonest, and backing that up with violence, have taken control over the uses of those scientific and technological breakthroughs, so that we have developed a global electronic fiat money fraud, backed by atomic bombs. All of what made those REALITIES possible leave ordinary human beings behind, way, way, way, behind by orders of magnitude.

The "peak laziness" is the flip side of the peak achievement of the best organized gangs of criminals working well, to take control of governments, in order to make the power of government serve that smaller and smaller elite. In the process, the majority of human beings have been made dumber, so that they would vote for puppet politicians, whose "abilities" were to become stupid and incompetent, because they were puppets. The awesome advances in science and technology have been channelled into producing a political puppet show, that features fantastic special effects, while telling the same old stupid social stories.

There are plenty of creative alternatives, and a vast domain for qualitative growth. However, the keystone to that system of alternatives must be a better death control system. Right now, that is actually operated covertly, through the best organized gangs of criminals, controlling governments, as the puppet masters, behind the public puppet shows. Human beings could theoretically become better citizens, and should do so. However, instead, the peak achievement of lies, backed by violence, done by an elite, is driving the rest of the population into a condition of "peak laziness."

The ONLY way we could cope with orders of magnitude better science and technology is with matching orders of magntide better political science, with respect to making the decisions about who to kill and how to kill them. Right now, the vast majority of the peope are operating with "peak laziness" towards their responsibilities as citizens to do that, and so, instead, they have become the targets of those systems, which are actively directed by a tiny elite, assisted by all the awesome advancements in science and technology.

Tue, 11/13/2012 - 19:11 | 2977881 New_Meat
New_Meat's picture

"... the keystone to that system of alternatives must be a better death control system."

Someone was highly and widely ridiculed for the concept of "Death Panels."

Are you related to Rahm Emanuel?

- Ned

Tue, 11/13/2012 - 23:55 | 2978725 Radical Marijuana
Radical Marijuana's picture

As I said in another post above, I advance what may be called the FRINGED CUBED attitude, which may well be headed towards being Fringe to the Fourth Power these days! Ever since I was a teenager, several decades ago, and first realized that the world was based on exponential growth, backed up by weapons of mass destruction, I have been attempting to figure out theoretical solutions to those combined money/murder system problems. I have been lucky enough to be able to indulge in almost non-stop education and political experiments, to feed my obsession with attempting to resolve that problem of exponential growth, that has taken the form of runaway global eletronic fiat money frauds, backed by an abundance of atomic weapons, et alia!

Of course, I am only most distantly related to Rahm Emanuel.  I come from a long line of black sheep, after black sheep, with repeated incarnations of revolution and resistance in my background. I do NOT think it is possible to stop the runaway fascist plutocracy. I think it is only possible to perhaps push it past where it would have otherwise stopped. Most of my stuff is based on one profound paradigm shift after another, so much so that most of the way I use language ends up meaning mostly the opposite of what other people now understand that language to mean.

For instance, most of what people call "birth control" I regard as actually being forms of "death control." Therefore, most of what other people call "family planning" I put in the context of new age warfare kinds of murder. That is, I regard what most people call "birth control" as possibly the most efficient form of death control. My general language is to say that true birth control is to say "yes" to the development of a potential, while real death control is to say "no" to some development of potential. Thus, almost everything we call "birth control" is much more a manifestation of death control instead. It follows that, as another of the many, many aspects of understanding that we live in a Bizarro Mirror World, where almost everything is backwards, and therefore, almost every good solution is to do the opposite to what we are doing now, the main loci of death control should be transferred from men to women. Women should take much more responsibility for the human ecology than men. Of course, that would require blowing away the patriarchy, which has risen triumphant for the last 25,000 years or so!

Meanwhile, what has actually happened is covert privatization of the death controls, through organized crime forming a shadow government, taking over secret control of the public government. Thus, the REAL death controls have been more than 99% privatized. That is, the ability to make money out of nothing, and to use that power to decide what gets funded, and what does not, is the MAIN source of decisions about what lives or dies.

A lot of what I do is simply change the paradigms of perception, to see the social facts in a new light. I talk about what is already obviously happening, but not perceived by the majority of people. I tend definitely be a "new world order" kind of guy, just not one that works for the current ruling elite. I have the delightfully vain attitude of identifying myself with a new ruling elite, which does not actually exist at the present time!

So, NO, I am not related to the current ruling elites, or their figureheads. However, I do try to imagine replacing them, and substituting what they do with new methods that will accomplish those purposes in better ways. I am a kind of military strategist, for new age warfare, which is an attempt to figure out how human beings could ever adapt to survive becoming billions, trillions and quadrillions of times more powerful. That has practically nothing to do with most of postmodernizing militarism, as it is understood and practiced. But nevertheless, my favourite old-fashioned religion is Mithrasism, centered on the god Mithras, that became popular among the military in the Roman Empire. After all, militarism was, is, and always will be the most important ideology! Warfare was always the oldest and best developed of social sciences. Warfare was the beginning of the "death panels."  That medicine is actually inside of medicine, the same as the money system is actually inside of militarism, is what we need to face, so that our business models for medicine could make more sense.

Right now, the realistic chances of that appear to be practically zero, and I tend to be 100% objectively depressed about the foreseeable future. However, I would definitely be in favour of democratizing the death controls, and "death panels" would be on my list of things to see happen. BUT, most of what I mean by that would be the opposite of what most other people would presume that means!

Tue, 11/13/2012 - 19:34 | 2977955 Gully Foyle
Gully Foyle's picture

Radical Marijuana

"The problem is that we are nowhere nearly intelligent enough, only barely enough to have gotten ourselves into serious trouble."




The Problem

The human population is now 3,000,000 highbred elite and 5,000,000,000 morons. The "average" IQ is 45. (Presumably compared to the true present day, as in the real world, an IQ score of 100 is both average, or median, by definition.) Several generations before the onset in the story, the small number of remaining 100-and-higher-IQ technocrats, after being ignored by the general public about the impending population problem, banded together to preserve the human race. The elite work feverishly like slaves in order to keep the morons alive.

The elite have had little success in solving The Problem (also called "Poprob" in the story) for several reasons:

  • The morons must be managed or else there will be chaos, resulting in billions of deaths;
  • It is not possible to sterilize all of the morons, as there are not nearly enough elite to do the job;
  • Propaganda against large families isn't working because every biological drive is towards fertility

The elite had tried everything rational to solve the population problem, but the problem could not be solved rationally. The solution required a way of thinking that no longer existed—Barlow's "vicious self-interest" and knowledge of the distant history.

The solution

Barlow derives a solution based on his experience in scamming people into buying worthless land and knowledge of lemmings' mass migration into (and subsequent drowning in) the sea: convince the morons to travel to Venus in spaceships that will kill their passengers once they fly out of view of land (possibly, the story implies, because they are built by morons, though obtaining consistent destruction in the proper flight phase might be beyond their competence). (The story predates the Moon landing, and the safety of future space travel is summed up in a description of a rocket that crashed on the moon.) Propaganda depicts Venus as a tropical paradise, with "blanket trees," "ham bushes," and "soap roots." In a nationalistic frenzy, every country tries to send as many of their people to Venus as possible to stake their claim.

Barlow's help includes using his knowledge of Nazi propaganda tactics. Fake postcards are sent from the supposedly happy new residents of Venus to relatives left behind, describing the wonderful, easy life — in the same way as fraudulent postcards were sent to relatives of those imprisoned in the Nazi work-camps.

(Biden 2016, ever eat SPAM?)

Tue, 11/13/2012 - 23:21 | 2978647 Radical Marijuana
Radical Marijuana's picture

Yeah, I believe I read that when I was a teenager. I have read thousands of science fiction books, of course all the classics. There are so many great authors now that it is no longer possible to keep up!

Most science fiction books take one idea and pound on that, to get all they can out of it. Some sprinkle many more creative ideas on top of their one central idea. However, the biggest difference between reality and science fiction is that reality is more awesomely able to pile up more things on top of each other, in more complicated interference patterns than any one author ever could!

The bi-modal distribution of intelligence has been a growing phenomenon for quite a while now, due to what others in this thread have apparently been referring to as "forced altruism." In general, I regard the way that impossible ideals make the opposite happen in the real world as one of our most serious problems. Of course, that kind of biggest bullies' bullshit works for them, to accomplish what they want to accomplish!  Those who know that impossible ideals must necessary cause the opposite to happen in the real world can covertly work towards their goals by advancing impossible ideals, which a few of those advancing them know will backfire like that. Meanwhile, most of the other people advancing those impossible ideals appear to be the kinds of useful idiots that believe in the bullshit, without understanding the paradoxical ways that things actually work through their manifestations in the real world, where everything piles up on top of everything else, to produce some hyper-complicated and bizarre results that would not be intelligible and entertaining enough to work as science fiction literature.

One of my favourite sayings is that "natural selection commensurates the incommensurables!" ... I just do not actually know what that means!

Tue, 11/13/2012 - 18:53 | 2977835 AGuy
AGuy's picture

"We've only hit peak food production compared to world population because there's a lot fewer involved in agri-business."

Not Correct in the least:

1. Rapidly depleting Aquifers around the world (less ground water for irrigation)

2. Higher demand of Water for non-Agra development (ie significant increase of water demand for population centers)

3. Loss of fertial land to suburbian develop (where there were once farms, there are now large shopping malls and fast food restaurants)

4. Depletion of Phosphate mines (Worlds running out of phosphate to make fertializer) Remaining mines to be depleted between 2030 and 2050

5. Rising energy prices (terminal production decline of cheap oil - only dirty non-conventional and deep offshore oil remains that is expense). Farming is perhaps the most energy intensive industry from the production of Agra petro-chemicals (fertializer, pesticides, herbacides), irrigation (pumping), transport, field tilling, and harvesting. Higher prices make the cost of food production rise.

While labor is a long term issue, it hasn't been in the past. Fewer people were needed in farming because of mechanization and automation. One farmer can plant and harvest thousands of acres using machinary. No need for a thousand laborers to do the same job.


Tue, 11/13/2012 - 19:17 | 2977903 Beam Me Up Scotty
Beam Me Up Scotty's picture

And even after all those great reasons we still plant corn to make ethanol. Talk about using more energy to get a gallon of ethanol. We should be using that corn for food not fuel.

Tue, 11/13/2012 - 20:33 | 2978153 AgShaman
AgShaman's picture

Less small, family farming operations

Less families using available land (including within city limits) to grow their own gardens.

Humans (western civilizations mostly) are becoming inefficient....due to laziness

They will complain about high fuel prices and empty bellies....before they take the initiative to address their depleting waistlines and thinning wallets.

The Earth is not overpopulated with humans wasting resources. It's overpopulated with humans wasting their time and energy...and available land.

Should inflation sort this all out....the victory gardens will return....and diggin' in the dirt will get more popular.

At least I hope it will

Tue, 11/13/2012 - 21:18 | 2978293 DosZap
DosZap's picture

We've only hit peak food production compared to world population because there's a lot fewer involved in agri-business



I disagree, why?, because the Big 3, have stolen, bought, legislated the small to medium farmers out of business thru bankruptcy, or buy outs. Mostly by  bankruptcies,their land has been stolen, and the R&R's from the Dept of Ag, and the EPA have stolen it from generations of Americas farmers.

Just look at So Cal, over a DAMNED minnow, they have KILLED one of the most productive farm belts for veggies and fruits we ever had.

Tue, 11/13/2012 - 22:04 | 2978428 Seer
Seer's picture

I'm hoping that you're less ignorant than you appear...

The MAJORITY of the world's humans ARE engaged in agriculture.  If you're talking US-centric then you have to realize that all the BIG Ag folks have made it nearly impossible for humans to work- hard to do when you scale such that only BIG machines can be used, when land costs are too high for many to be able to afford Ag land, when SMALL just cannot afford to hire.

Yeah, people appear to be lazy.  I blame BIG on it.  It's been the goal anyway.  And for the US and Ag it was Earl Butz (http://www.telegraph.co.uk/news/obituaries/1577604/Earl-Butz.html) who pushed/spawned the "Get big or get out" policy.

How meaningful is it to obtain "employment" if that "employment" doesn't provide any meaningful wages?  People's problems lie more with their inability to understand expenses than it does with their "laziness."

I have plenty of work for others to do.  Problem is that I can't afford to really pay anything.  Should the "lazy" just work for me anyway?

"Society "peaked" before the planets resources.....it's inhabitants are just too cowardly to admit it"

WTF does That mean?  Which "society?"

Tue, 11/13/2012 - 23:01 | 2978598 AgShaman
AgShaman's picture

You fool

Maybe you should go and read David's article

Then maybe you would gain a better perspective


Tue, 11/13/2012 - 18:15 | 2977744 Rathmullan
Rathmullan's picture

yep, they are in control and running on ritalin, cocaine, adderall, vallure vodka and an occassional joint. All is well.

Tue, 11/13/2012 - 19:17 | 2977902 Zero Govt
Zero Govt's picture

sounds pretty good, what's the clubs/party address i'll check it out

Tue, 11/13/2012 - 18:17 | 2977753 Yen Cross
Yen Cross's picture

 Craigs list: / topic;  Looking for one legged men, to hold up (1) legged bar stools. 

  That is what is going on right now folks! That is what your labor yields folks!

Tue, 11/13/2012 - 18:20 | 2977757 Radical Marijuana
Radical Marijuana's picture

If we were to acknowledge such a fringe view we would be urgently preparing for profound change

I refer to my system of thought as a Fringe Cubed method, the fringe of the fringe of the fringe ...

Tue, 11/13/2012 - 18:20 | 2977762 yogibear
yogibear's picture

 We have reached peak BS from the IMF and Fed. QE has become ineffective. Next is the realization that it's all F'd up and the Fed enabled it.

Do NOT follow this link or you will be banned from the site!