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How America Works (In One Cartoon)
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no comment
or pic ..........
Cant wait for the cash cow to blow. Get ready people. MOLON LABE
Lots of marbling on those steaks. Wall Street, it's what's for dinner!
Miffed;-)
I guess you call them cash fed...
Did you see Apocalypse Now? Towards the end, when Marlon is getting it? The natives were restless.
I would suggest adding a bubble of methane gas wafting up out of the cow's arse ... lable it "MSM reporting"
Japan's Kobe cow pies are more aromatic.
Time for a Public BBQ I'd say..
wall street is simply making too much money
for this reason, I will begin immediately to issue non-repayable loans to these financial entities on my first day of work
somewhere north of 100B per month, to start with
this program will continue until these entities stop making so much money
hugs,
mister jellens
Well at least there's a pile of shit. It's better than nothing when you're starving.
BREAK OUT THE BTC $600 HAT, TAYLOR!!!
aaahhhh! Is this what the economists refer to as "Trickle Down Economics"?
This is misleading...it's more than a few Wall St assclowns comprising that bull! Where's the politicans? The crony-capitalists? The lobbyists? The fucking media and Hollywood? The bureaucrats?
Come on man, be more attentive to details!
That would be toxic shit..can't even use it as fertilizer
In this casino, we get to play with buffalo chips.
This cartoon reminds me of the old adage that democracy must be a little bit more than a lion, a wolf and a sheep deciding what is for dinner.
The only thing the dagram is missing is the IRS rear ending the poor old fellow copping the shit.
"The horror...the horror..."
That would be the IRS billing the poor main-street schmuck for 39% of the value of the fertilizer being dumped on him.
It's not the stock, it's the flow.
.....yes! that's how a ponzi works
...and it adds to the meaning of garbage in, garbage out as well.
Colonel Kurtz' famous last words. Prescient indeed.
Soylent Blankfein?
Miffed: I'm not following your dietary recommendations! I'd rather watch the scum eat themselves.
Miffed, one affluent beneficiary of Wall St tells me (in his hubris) that it will be a no-contest event of F-16s, drones and attack choppers vs. AR types.
What that guy doesn't realize is that, he's next...there is no honor among thieves, contrary to popular opinion.
WOW,how did thet get MOOOOCHEELE to pose for that?
they told her she could sleep with your mom again
Is she the one on four legs or the steaming pile in behind?
I don't see a problem .....
That is why a small apartment goes for millions of dollars in New York City and for $50,000 in flyover country. You could see the visceral anger at and loathing of Wall Street in the #AskJPM debacle.
FUCK NYC
Re: SmokeyQuinn @ www.TheBeastilityPlatform.com
TAKE THIS TO THE BANK QUINN!
Your level of 9-11 Ignorance is multidimensional and diverse.
The stench your 9-11 Ignorance has settled like toxic smog over all your writing, as you chose comforting ignorance over disconcerting knowledge about 9-11 Truth.
Like most other highly educated wannabe members, who constitute the ruling class of the United States of Assassination, you purposefully ignore 9-11 Scientific Facts and 9-11 Truth because the retention and enhancement of your ego is dependent upon not understanding what you clearly have the knowledge to understand.
http://www.youtube.com/watch?v=21pPpYw_axQ
You might have a bit more credibility if you didn't spam not only his guest posts, but anything indirectly related to him as well. The more you look like a wacko, the less likely people will even take a look at what you're sayin'. Just sayin'.
It was like within four minutes, he almost broke his own record ;-)
Whutz he talkin' 'bout?
His obsessive compulsive disorder, again...lol.
That video "9-11 litmus test" is hilarious, if y'all wanna be taken seriously you gotta come up with better videos / 'evidence' than that.
Agreed
I love litmus tests.
This litmus test, as always, only allows for two possible outcomes, just like kafkatrapping.
If you disagree with sticking scissors into the base of the skull of infants in order to insert a tube, so you can suck their brains out, while the infant is in the birth canal, causing extreme pain to a living human being...you obviously don't believe in a womans right to choose.
So, you're either branded a neanderthal or enlightened, based on your answer to the test.
Likewise, if you disagree that the actions of a madman with a gun, should in some way or anyway, infringe on a sane mans willingness & right to prevent harm to himself or his loved ones with a gun...you obviously don't believe in a civilized society.
So, you're either branded a neanderthal or enlightened, based on your answer to the test.
I could go on...the test is meaningless outside of the form of deriding someone for the answers given or compelling someone to the test givers favor/advantage.
Its pretty elemental stuff.
But what does it say about the test givers? ;-)
+1 for the Kafkatrapping.
I thought it needed to be raised again, so we can recognize it...whichever proponent or antagonist tries to use it doesn't matter.
Its stifling to free thought & opinion.
No Nmewn, it really doesn't stifle free speech. It is branding an argument as vacuous and emotional, therefore to be ignored. Like in Harry Potter when the Bogart exits the closet and chooses the form that most terrifies the observer. The spell that dispels it is "Reddikulus!"
Miffed;-)
You might have a bit more credibility if you didn't spam not only his guest posts, but anything indirectly related to him as well. The more you look like a wacko, the less likely people will even take a look at what you're sayin'. Just sayin'.
Maybe THAT'S why he does it?
Don't understand the origins of this pissing contest, but the below documentary provides strong evidence that the official story is not accurate.
http://www.luogocomune.net/site/modules/sections/index.php?op=viewarticl...
http://www.youtube.com/watch?feature=player_embedded&v=O1GCeuSr3Mk
http://www.youtube.com/watch?feature=player_embedded&v=K7mDXHn_byA
http://www.youtube.com/watch?v=DegLpgJmFL8
"...the origins of this pissing contest..."
Here's a typical, obscene response from Quinn to a polite comment at his lousy blog.
"Administrator says:
It is good that you were able to take time out from the truther sheep fuck* convention to develop a sitcom. I hear JFK is on today. You can sit in front of your TV and jerk off to it. Do you have any ideas about detective dads that bring up morons? By the number of thumbs up you received, it appears that the 9/11 truther retards are still onboard. I guess no other sites will have you mongoloids.
The truthers swarmed the site with their bullshit immediately. Anyone who has been on my site for the last two years realizes that if you don’t have facts to back up your argument, I will obliterate you.
I had the facts when Jason Rines pulled the plug on my old site.
I really don’t care who I offend.
Anyone who has been offended can hit the fucking road.
Then all of the truthers I’ve offended today can quit my site. They can discuss gravity, explosives, jet fuel, video clips of the Pentagon, and how to properly fuck a sheep*."
Since you say you were a firefighter, that makes you an intelligent person.
You should really have special insight into the 9/11 towers. You are a bonafide sleuth.
You really have that mystery solved.
Nobody can pull anything over on you. You are too smart to fall for any tricks.
You are a mystery solver. A man with keen analytical skills. —-A fucking inbred, maggot-infested douchebag. You and all of the rest of the duped Truthers eat dog shit."
*Quinn's favorite retort
....................................................................................
That's just one of the really intelligent responses from Quinn from over 3 years ago.
see comments...
Guest Post: 9/11 – A Fourth Turning PerspectiveSubmitted by Tyler Durden on 09/12/2010
Guess Quinn can't handle the truth? Fucking scaredy-cat.
I've been calling out Quinn for over four years.
He is a servile self-seeker who attempts to win favor by flattering people.
The PUSSY refuses to get in the 9/11Fight Club ring here at ZH.
He hides in his little blog populated by his other sycophants.
Without his delete button he's a terrified.
He lives in fear, writes about doom and gloom, social frauds, economic myths, political fads, and racial fallacies.
Of science, he knows little or nothing.
Everybody know that if they leave a steel pot on the open flame for too long that it just melts...in an hour. or two.
Everybody knows that it takes just the heat of Kerosene Fires to melt (or weaken) steel. Why bother with Furnaces and Blowtorches?
Everybody knows that a car slamming into a Mack Truck with a low impact speed just pulverizes both the entire car and the entire Mack Truck into Powder.
Why bother them with the Physics? The Government's NIST Report has decreed that the Laws of Thermodynamics and Newton's Laws of Motion are Null and Void.
The Government NEVER LIES.
Momentum and Energy are not conserved in most people's World.
I would be amazed if most can define what Momentum is and how Kinetic Energy is derived from that. Most of you are INNUMERATE. Calculus is far too demanding. Even Logarithmic Algebra is challenging for most.
I can tell you that a Logarithm is just an exponent but that will cause most confusion. logbx = a means that x = ba
(Here is a numerical example...log1010 = 1 ; log10100 = 2 ; log101000 = 3
101 = 10 ; 102 = 100 ; 103 = 1000...What are the exponents used on the Number 10 ?)
Robert Heinlein said, “Anyone who cannot cope with mathematics is not fully human. At best, he is a tolerable subhuman who has learned to wear his shoes, bathe, and not make messes in the house.”
I disagree. He has far more tolerance than I have. If I read as an arrogant son of a bitch then you can conclude that I am. I cannot care any less.
(I know that there are some here that can understand Math and are Science Literate.)
But most of you are also Science ILLITERATE. There is NO EXCUSE FOR THAT....NONE.
So everyone can go and take a flying leap off of a cliff. It won't hurt them. Just ask the Government. Ask NIST.
But many will tell you that the numbers assure an Economic Collapse. Half of the time many here have not a clue about what they are writing about.
What is Differewntial Growth? Is it a changing rate of Growth? What are the independent and dependent variables?
Let's make this a little simpler. What is a Function?
Then these same people want to attempt to "Debunk" the Debunkers of the Official Government 9/11 Report? For what purpose? To defend a LYING Government?
But to echo Hillarity's words, "At this point what does it really matter?"
The truth is THAT IT DOES NOT MATTER. Really...IT DOES NOT MATTER. You are searching for the Truth. That is the Truth. The truth is that it just does not matter.
So I look forward to Economic Collapse because we are just so DESERVING!!! Because that does not matter also.
Matt Groening had it right in his comic, "Life in Hell", written before his Simpsons fame. What is the differnce between a "Crisis" and a "No Big Deal"? You see, if it happens to ME then it is a Crisis and it Matters. But if it happens to YOU then it is just No Big Deal."
Most people are self absorbed.
Go ahead and Down Arrow this. Please do.
First if you do not like me then too bad. I am not here to make friends. I am not going to be Socially Pleasing. I am going to write the UGLY TRUTH. There is one color on my artist's pallette...BLACK. I use it well.
You must understand that I am living proof that abortion needs to remain LEGAL. It was illegal when the bitch shit me. Had it been legal then I would never have been here.
Next you can refuse to read that which I write. I really do not care about that either. In fact I will be laughing at you when you do refuse to read and consider it.
The Truth does not change because you do not like the person whom is delivering it. That is why I enjoy the ad hominem attack in any logical argument. The deliverer of the attack demostrates a desire to believe a LIE. Knock yourselves out.
Fianally you can deny any truths which I write. But I will be very pleased to watch you reap and suffer the consequences of the rejection of the truth., I will enjoy it even more when you reject the truth because of who the deliverer is, no matter if it me, or, anyone else, because you do not like someone.
This is not about a Personality Contest. It is about an exposure to Government lies.
I have no Social Skills and I am not interested in learning them. I have no time for nonsense.
Please reject this. Give me 100 of them.
Or even better...do not read it....or anything else which I write. You deserve it.
Well, I'm sorry. I had to 1+ that because I have a vile hatred of authority and you told me what to do. And I'm glad your bitch mother shat you out so there! So you want some more of me have at it!
Miffed;-)
P.S. I did respond to you on that old thread.
Tall Tom:
I don't care who you are... That's Fight Club right there.I have to admit, your math skills are spot on, but I think you should have paid a bit more attention in English class. Paragraphs are your friend.
I had to go back and sign in just to give you a greenie on that.
What and arrogant asshole - I know math and you don't - la de dah de dah.
He was the guy in high school that could never get a date, and he's been pissed off about it ever since.
And I'm richer than he is.
(Sorry, had too.) ;-)
Metals do burn. Thermite, aluminum powder and iron oxide (rust), burns at 2200 degrees.
Phantom F4 jet dematerializing: http://www.youtube.com/watch?v=RZjhxuhTmGk
Robert Heinlein said, “Anyone who cannot cope with mathematics is not fully human. At best, he is a tolerable subhuman who has learned to wear his shoes, bathe, and not make messes in the house.”
I disagree. He has far more tolerance than I have. If I read as an arrogant son of a bitch then you can conclude that I am. I cannot care any less.
Hey, math worshipper - the government has plenty of mathemeticians working for them. And so do our munitions industries.
A facility with numbers does not a self-actualised person make.
Are you friends with Bill Maher and MDB?
Obsolutely nails it. Must forward.
Hey Circus Pig,
Do you think this 'nails it' more?
http://postimg.org/image/5nuidrp5z/
Over!
Hey Bada Bing your fucking link doesn't work. WTF's your point anyways? Why the fuck you be dissing my name?
It's Pig Circus MTF. Now get back to shining Blankfeid's shoe's. Or is it his balls again tonight? You fucking wannabe.
Hey Circus Pig. The link works fine. You shouldn't have drop out of high school before they taught internet.
Over.
Hey Bingo, did you ever fly? And in what war?
Over is really over, yah know?
Just let up on the fucking button, we copy.
I guess the cartoon is incomplete in one sense. That cow manure may be valuable fertilizer when we all have to go back to subsidence farming.
Avoid buying farmland with sinkholes.
That's impossible in Florida ,, we just fire up whatever heavy earthmoving equipment is handy and fill them in with sand.
Or fill the hole in with heavy earthmoving equipment, whichever hits the hole first.
This outcome is also Krug-tard approved, so win/win!
>> we all have to go back to subsidence farming.
Some of us are already there.
I made the transition from hobby farmer to a full blown commerical operation today. I was thinning out my strawberries and traded 40 strawberry starts for 18 free range eggs and seven dollars. Turns out I know the old hag from craigslist sales in the past, and she drove a good ways to get the berry plants, so I threw in two poblano and two bell peppers, free gratis. Life is good.
Mr. Greatbird,
On your 2014 1040-FU form, our records indicate that you didn't declare income from 40 strawberry plants, sales tax on 18 free range eggs, and did not report $7.00 dollars in income. With a total of $34.00 in unreported income, past due, you owe $45,000 in penalty. Please inclose your check, and we will notify your state of your additional income.
sincerely,
The IRS
Edited: Please enclose your cheque or we will notify your estate of your additional income.
Sincerely,
The IRS, FBI, CIA, NSA, FDA, EPA, DHS.
Donkey: fucking LOL'd big time at that! Scary thing is it's probably true!
1st and 2nd rule of your black market transactions are...
RULE 1:
Don't publish your transaction in fucking blockchains!
Over.
Thou shalt not use the F word unless you have a really good reason.....and you didn't.
Over....and out.
It's Mr. Show ;) The sad part is that I shop at the flea markets in my area for older (quality) tools and such, and this is really going down hard. The state of Ohio, and DHS agents roll around all the time busting people for copyright and tax issues all the time! I hear they crack down on Craigslist people now, and suck every bit of life out of anything they can find.
This is why it is called a black market. It's transactions are made in secret. Shopping farmers and flea markets are wonderful but they are not black. Any congregation of people publicly stating they are engaging in business arouses the nefarious who want a piece of the action. I'd sooner walk around the Serengeti smeared in antelope blood.
Miffed;-)
Lol Miffed... That's quite an original piece (smeared in atelope blood). I get it. Quite original on your part!
As always, missing you and Mr.
And I you Angus! :-( What a shitty word we live in now. It's so hopeless. I think of you often, very fondly and hope all is well my friend!
Miffed;-)
@Miffed. The hard part is arranging transactions anymore is keeping them secret. I'll walk around the Serengeti smeared in antelope blood before I deal with the state or Feds about business.
I agree Donkey. Most of my transactions are made within a 15 mile radius of my house and with people who are like minded and I trust. Agreements are never in paper, hand shake only so I guarantee anonymity if anything happens. My cash and or labor is exchanged and therefore untaxed. I wish I could expand my scope but i only trust a mutually agreed upon code and homing pigeon at this point.
Miffed;-)
That is the most surreal, unreal shit I've ever heard. If it really is like that then we all need to starve the Beast.
The beast is LEO. If they enforce it, you know it's legal robbery.
I do not consent, and I will starve, and have been starving, the LEO Beast.
Gov Thugs get nothing from me.
Gov Thug sheeple won't make it..
Gov Thug relatives won't make it.
Gov Thug families won't make it.
Reality is a bitch, .gov parasites.
Not to mention commercial farming.
Got permits, licenses, inspections, certificates, waste plans, impact statements.....
In 5 years I suspect the biggest payoff investment one can make today will be a greenhouse. As big box grocery becomes more streched, and brown rot cases increase (same thing happened in the late 70's in the pusch for JIT).
Similar story with Peach trees and Syrian olives. Those pudgy shrubs have pumped out almost as much FCF as GE dividends this year. Kind of a sad statement on the current affairs of the market.
>> a greenhouse.
I still see greenhouses dirt cheap in my area. There's a 30'X 48' right now, $2,500. Yes, it's you disassemble and move, and it needs new plastic, but that's pretty cheap. Still, if I can find some old single hag that already has one, much better.
Try building one of these http://www.johnnyseeds.com/c-882-quick-hoops-high-tunnels.aspx As for the single old hag, for someone who is so worried about what they eat, your quick to eat items past their shelflife
The 'bender' is just a couple 4' lengths of the same chainlink top rail, bent and screwed together with a strap to hold the piece being bent in place. You can use some simple calcs or something like Sketchup to make the angles for 10', 12', or 20' wide tunnels. I use one 10' piece of top rail cut in half to level and secure the hoops in the ground; drive them 2-3' down using a post driver, protect the top with an appropriately sized diameter of steel pipe with a cap screwed on. Scrap thin-wall PVC can be cut on a table saw to make the snap clamps and I use 3" ball bungees to wrap them. Makes a small hole but they don't blow out any more. Find a commercial greenhouse and ask if they have any old plastic or shade cloth around or if you can help next time they do a replacement and get the old stuff. I got 100' of plastic from a house that was taken down; 3 years later and it's still up(in FL). A couple screen doors for free from Craigslist and I have a semi-permanent 40' hoop house for about $250 in top rail. The other plastic goes over temp hoops that cover the blueberries during a frost. I put up and take down daily in about 10 minutes. http://sdrv.ms/1bQjc8j
Why do you abbreviate shit? You here to share, or obfuscate?
JIT just in time?
FCF Fuckin' Chilean Foibles?
Well Dude, we just don't know.
JT just in time
FCF free cash flow
Share!
DU1P -Don't use 1 ply
SGOF -Shit gets on fingers
How's that for abbreviated shit?
Over.
5 years Rat?
Try this year.
I fly low and slow over maryjane country in northern CA.
Last year one greenhouse, this year two.
Last year two, this year four.
It is positively fucking amazing - the number of greenhouses in this non-flyover part of the world.
Alas, most of them are not harboring groceries...and sucking up a LOT of water during this drought-ie year.
But nothin' a flight or two of A-10s couldln't fix in a hurry - all that tax money not being paid.
Greatbeard, now yer talking my language! Buying up rolls of wire cloth mesh and posts for the chicken coops/fences, patriot seeds, solar panels, batteries (LiFePO especially) etc. Now to find a place to try to settle down.
What the fuck is a patriot seed? Does it lie to itself about being in the garden, or does it try to kill all of the other plants in the name of it's "produce?" Is it told to do something by the Jewberries?
Congrats. How long did it take you to go from hobby to commercial ?
Farmers have always known from where the wind blew.... We have pitchforks too.
The farmer better pray to God the wind doesn't blow from a nearby Monsanto seed farm.
The cow is going to get impatient soon and eat the feeders.
Another reason to end the FED, it will stop the methane output from cattle and global warming will cease!
Someone call Al "Hot Air" Gore, why did he not think of it!!
Yep. If for no flyover country there'd be no country as far as I care. Two teenage boys running around with guns shuts down a metroplex. Really?
Here it goes one riot, one ranger.
Time to slauder the cow and feed main street.
Time to eat that bull.
Where are the banksters milking the cow?
I think it's a bull and that ain't milk....
Yep, time for burgers.
I think that cow is GMO
GMO - Government Modified Organism
A more appropriate depiction would be the , Wall Street cow shitting into Bens mouth while Bens crew shoves money into the cows mouth while Main Street fignts over 1 dried up infected udder. But since I can't draw worth a shit I'll take what I can get,. stick cows just don't have the same impact.
The true Americans would use their connections and capital to put this on every highway billboard from coast to coast.
Starbucks' Schulz? You've been so vocal on CNBS. Others as well.
Time to put the actions where the words have gone.
What say you?
That is the REALLY SORT version of the following argument:
Before we can solve a problem, we usually must understand the cause; otherwise, the unintended consequences could be worse than the original problem. In fact, the solutions of the past are the cause of most of our problems today.
Given that those who are most successful tend to be those who are least principled, we can see why every other problem is the result of unhealthy interventions at the top, but how did it get to be this way?
After a few generations of unhealthy interventions from the top by men who may or may not have been principled, we can see how their bad solutions created a perverse incentive structure that rewards bad behavior and punishes good behavior. Just like bad parenting creates a spoiled child who suffers from arrested development, now an entire people are increasingly spoiled children who suffer from arrested development.
The Soviet Union had a system that rewarded unprincipled people, and it crumbled from within.
Everything afflicting the people (that wasn’t caused by evolution) is caused by dishonest banking and a dishonest money supply, and the watershed of problems are self reinforcing.
Dishonest banking and money are caused by:
Central Banking: The Federal Reserve is a private bank with a government granted monopoly on currency creation; whereas, money is a product just like any other, and thus would benefit from competition just like any other product. Why do you think the Federal Reserve refuses to be audited? Central banking was universally considered dishonest until the 20th century.
Fiat Currency: What most people still don’t know is that all of the money in America is created from nothing and backed by nothing except confidence, and thus it is referred to as fiat currency. Fiat currency was universally considered dishonest until the 20th century.
Fractional Reserve Banking: The main cause of fiat currency is that banks can lend at least ten times as much money as they receive in deposits, and depending on the type of loan and type of deposit, it can be even more. Over time, the government has been making it increasingly easier for banks to create more unearned money out of nothing. This is known as fractional reserve banking, which was universally considered dishonest until the 20th century.
Quantitative Easing: In addition to fractional reserve banking, under Obama, the Federal reserve has been creating a much larger than usual amount of money and loaning it to the government and the banks. This is known as quantitative easing, which was universally considered dishonest until the 2oth century.
ZIRP: The federal reserve has reduced the interest rates to nearly zero percent on money it loans to the government and on money it loans to those banks who own the Federal Reserve. This is known as Zero Interest Rate Policy (ZIRP), which was universally considered dishonest until the 20th century.
Consider that any entity who borrows money at zero interest has little incentive to ever pay it back, and will in fact have much incentive to keep borrowing. That’s a very corrupting influence.
Bailouts: Before Quantitative Easing and ZIRP, the government tried bailouts. Does anyone believe that the crash of 2008 and many of its prerequisites would have happened if all the self-proclaimed Elites had been certain that bailouts were an impossibility? It is almost as if bailouts were part of some plan.
Bailouts are unconstitutional, but they happened anyway, so we see that it is really just the character of the American people that gives the Constitution its power, and the American people lacked the character to stop the bailouts. It is almost as if character devolution were part of some plan.
Bailouts were universally considered dishonest until Obama.
Cronyism: Dishonest banking causes the government and the big banks to receive a flood of unearned money, which then finds it way to their closest cronies, which thus tempts cronies to become closer cronies and which tempts honest entities to become first-time cronies. This is called cronyism, and although it has been growing for a long time, it was universally considered to be dishonest – until Obama became the President.
Government rewards cronies with bailouts, contracts, tax breaks, regulations that help the crony and/or hurt honest competitors, and with selective enforcement of laws and regulations. Once the media became cronies, then media bias also helped other cronies and hurt honest competitors.
Once cronyism took hold at the top of government, the cronyism trickled down to the local level. Cronies in local government thus have the support of the cronies directly above them.
A system that favors cronyism makes it increasingly difficult for honest individuals and honest businesses to compete with cronies. It also manufactures more cronies by corrupting honest people. Furthermore, the dwindling number of men of principle limit their success by avoiding doing business with cronies.
Dishonest bankers corrupted honest banking, which then corrupted government, which then corrupted the free-market, which thus corrupted the people, which thus reduced entrepreneurship, innovation, efficiency, and honesty.
Inflation: Newly created dollars make each existing dollar worth less than before, and thus a reason to be first in line for the new money is the ability to spend it before each dollar has become worth less than it would have been worth – had the new money never been created. This is called inflation, which was universally considered dishonest until the 20th century.
Inflation is like a tax of several percent a year on every dollar in existence. It makes prices permanently higher than they would have been. The recipient of the inflation tax is whoever received the new money before it inflated prices. Inflation is theft.
Therefore, inflation tempts honest people to compete to be first in line.
Misallocation of Capital: More than ever before, there is a flood of new money at near zero percent interest rates. This new money often starts off in investment banks and thus much of it naturally finds it way into financial instruments, which thus creates even more incentive to bet the rest of the new money on financial instruments such as stocks, bonds, hedge funds, derivatives, collateralized debt obligations, credit default swaps, and options.
Consider the alternatives available to anyone who had access to unlimited new money at zero percent interest rates. Would he spend the effort to evaluate and fund your idea for a product which has a 50% chance of making him 10 million dollars in five years, and which is in a field he knows nothing about, and which will have even less chance of success than before – given inflation, cronyism, and the increased interest in financial instruments? – OR – Would he instead invest in financial instruments and in bribing politicians given that those have the potential for more profit and faster profit, and that he is already intimately familiar with such investments? If he loses, he can always just borrow more at zero interest.
Consider the alternatives of an MIT graduate who could invent a product that could attract investment capital. He could make an engineer’s salary, and then maybe someday invent something that would make him a couple of million dollars after years of saving or after increasingly difficult competition with financial instruments for investment capital. – OR – He could work for Goldman Sachs and make three times as much right away, and have three times the opportunity to make a couple of million dollars, and do it three times sooner.
Suppose government has more money to spend. That means more labor is directed toward government projects and less labor is available for projects that are capable of earning enough money from voluntary customers to pay for themselves. At the same time, inflation resulting from government borrowing reduces the value each dollar spent on projects capable of earning enough money from voluntary customers to pay for themselves.
These are examples of misallocations of capital resulting from interventions in the free-market ,and are caused by dishonest banking. Misallocation of capital was universally considered unhealthy until the 20th century.
The Seen vs. The Unseen: Misallocation of capital is very hard to detect because of “the seen vs. the unseen”, which is a phenomenon first identified by Frederic Bastiat in 1850. Whereas, we can easily see the jobs created by the new money at zero interest, only one man in a million can see the jobs that were lost or never created because of the new money.
An additional hurdle is the bias of a crony media cheering for the new money projects and ridiculing those one in a million who can see the lost jobs and who can see that they were higher quality jobs because they would have been making something for which people would have voluntarily paid enough to generate a profit; whereas, crony jobs were created as a result of cronyism, taxes, bribes, and free money.
The “seen vs. the unseen” was universal knowledge – before government schools.
The Broken Window Fallacy: One way to penetrate the media bias and “the seen vs. the unseen” is the broken window fallacy, which is another idea from Frederic Bastiat in 1850.
Consider that progressives claim that all government spending, such as war, helps the economy as much as, and usually more than, any private spending. The progressive argument is another version of the argument that if a kid breaks a window, then that helps the economy because the capital spent on fixing the broken window created more work for the carpenter and more work for the window maker.
Whereas, we can easily see the jobs created by the capital spent on fixing broken windows, we cannot easily see the jobs that would have been created by that same capital if the windows had never been broken. Both labor and physical resources were obviously wasted in such a misallocation of capital.
Sooner or later the capital would have been used create something the owner thought customers would voluntarily pay enough for to earn him a profit. If the owner couldn’t think of any use for his capital, then he or his bank would loan it out to any borrower who did have an idea to create something the borrower thought customers would voluntarily pay enough for to earn him a profit and pay the interest on the loan.
The broken window fallacy so easily penetrates the seen vs. the unseen that it made it difficult for governments to borrow such great sums of money, and thus great effort has been spent by economists and other cronies to deny or circumvent the broken window fallacy. The pressure to deny reality has corrupted many economists because the surest path to obscurity in economics has been to embrace reality.
I could understand the short version...but thanks for the long version!
tldr:
if he has enough time to write that, he may as well finish the book and flack it on the Daily Show so that we know it is interesting enough to read.
That is part of a 6000 word article I wrote in one day a few weeks ago after trying to explain to a conservative friend that misallocation of capital was one of the factors in the character devolution of America. I just stuck with what I already knew. No research was needed that day. Reading ZeroHedge the last three years was a necessary contributing factor that made much of it possible.
Actually, only the first 4000 words was the first day, and then I thought of more material over the next two weeks. All together, it took about 12 hours.
I don't think the world is ready for this book, and certainly the Daily Show would never let it see the light of day.
They had Lyne Cheney on to flog her book.
The world is desperate to consume that which comports best with what they see and experience ... it's why nearly 50 years after the killing of a "beloved" president in the home state of the man who stood to gain the most from his death that we still eagerly absorb stories of possible conspiracies that fit the fact pattern better than the offical version.
well congrats on the effort future jim. and if a few lemmings read that, and get it, it helps the cause. well done.
I do normally skip such long posts, but on this occasion I started and continued right through til the end. Congratulations.
Future Jim, I tried several times to give you a thumbs up, and they all should have counted, but still only one as I type this.
Way to work! If you took the time and effort to write it, then it was the least I could do to read it. In fact, now I will click on the hyperlink long version. Thanks for posting.
Interesting ...
Great work, Jim
You may want to lose the suspicion on the bailouts and declare it fact:
The papers on bailout legislation were written well in advance. In fact the legislation was so comprehensive that lawmakers would have needed weeks to fully understand what they were asked to vote on. However, they were only given a couple of days to cast their votes and write federal bailouts and TARP into law. Remember lawmakers were expressing that they felt a gun pointed to their heads to sign the documents or else. They did not have sufficient time to study the legislation.
Stimulus was also signed into law rather quickly and that bill contained more pork spending than anything I had seen in my lifetime.
We were duped. Congress was either duped or complicit. The Fed took officially over and Wall Street came out on top once again and probably for the very last time because their gig is up. The can has been kicked to the end of the road. They know it, some of us care to know it. Those too dumb or blind to figure out what happened and what will happen will make the footnotes of future history books right next to the entry on Kardashians.
"Those too dumb or blind to figure out what happened and what will happen ..."
What do you think will happen over the next five years? What about the next twenty years?
Currency reset, debt cuts = wealth cuts (paper related), hyperinflation, possibly war (worst case if cooler heads do not prevail).
There is absolutely no way that our current ponzi and entitlement think can go on. The charts from the early Seventies onward paint one very clear picture. The pace is will accelerate and culminate in a hockey stick which will render all current paper prices worthless. The mother of all hyperinflations is upon us.
The current system succeeded over others because it deserved to (in Darwinian terms). If/when it fails, it will deserve to. For the same reason.
Unlike others, I detoxed from US Capitalism's "Kool Aid" some time ago, and hold no "religious" or "Stockholm Syndrome" affinity or dependence. I care EXACTLY as much about it, as it cares about me. Nothing personal, One Percenters. It's just business. Find some other fool to fight, bleed or die for you.
The economy can't and doesn't distinguish between broken window repairs or anything else. Fixing broken windows, producing porn, coding web pages....it's all the same. Labor in exchange for money. The broken window fallacy is the fallacy.
Time to round up the 'cattle' and bring them to the slaughter house!!!
That is a Friedmanesque model.
Krugman would correct this into a Keynesian model by sewing the mouth of a government cow to the anus of the Wall Street cow, forming a Bovine Centipede.
Yes, the arthropod of the elitimaximus family, well known for the overpowering stench of statism given off when cornered by a true capitalist predator ;-)
America works?????
Who the fuck does it work for?
well look at the cartoon....it works for the two that are feeding it....they are the from the Tribe, as was the guy before them
Do you act bigoted towards people you associate your fears with as well, or just those you associate your jealousies with?
jealously is a desire to be like the ones being criticized. How do you have any idea that this might be something he wants? Very unlikely I think.
Does it take pyramids rising along the Potomac for you to get it?
The corproate elite such as the Koch/cock brothers who have deluded a large number of Americans into thinking the best way to prove your not a liberal is by insuring the corporate pigs and banksters get even more.
I don't think that it is 'plop-down' as shown in the cartoon any more than it was 'trickle-down'. I think the cow just gets enormous and more enormous until--------------------------------forever
I'm the consummate optimist, however it's difficult to ignore the massive transfer of wealth this country is going through.
Everyone wants immediate/instant gratification. There's no loyalty, and personal/family values are completely broken. Everything that makes an individual an individual is regulated.
There is NO way the fed. will ever reach employment or inflation targets. (they know that) It's nothing more then a reason to justify the status quo until it becomes so painfull the serfs revolt.
Get ready for a huge campaign of social division before SHTF. It's easier to have the serfs fighting eachother, before the .gov comes in a sweeps the streets.
More then ever, we need to realize as serfs of the United States, that we need to put aside our petty partisan squabbling, and stand together as one against our common foe...
Wait a minute. I don't quite understand that. Lemme go take a shit and when I get back you splain that to me again?
Hey Yen!
I'm watching the site the Tylers posted this afternoon with the bitcoin article. I was just wondering how it will be when fx is traded per real transactions(if ever) rather than by the CB scoreboard------then I came across the expert(yen Cross) and had to ask you this question. I have no idea, but just thought how funny it would be if the world starts believing in the voting of the public in the pricing discovery of bitcoin.
It's a damned funny world, is it not?
Sorry for the intrusion and thanks for any response
http://fiatleak.com
the chinese have transacted in bits 5x more than the US----europe and the russians have been pretty timid so far---interesting game@ olto I'm no fan of fiat, but it is what it is. My local coin shop enjoyed a visit yesterday. (silver)
I can tell you one thing though. If you think F/X (the largest market by far on planet Earth) is bad, you might want to become a fisherman in Guatemala. The equity exchanges are 10X worse.
Yen: I visited the WB7 exchange today. Got another 4.
We thought you might have been droned a few weeks ago. Haven't heard from you in a while. I've seen you posting up a storm in the past few days. Nice to know the drones didn't get you.
Cheers!
I've been around Angus. Thanks for your kind words.
I'm in observation mode.
thanks, yen,
i don't know about good/bad, but being a fish in gautamala might be more interesting than trading f/x
no caps tonight---new game
Good on you olto. {Be well}
"There's no loyalty" by our overlords to the U.S. Everyone of them has an escape plan and the 400 pound lard-asses at Chinese Wall-Mart ain't revolting in the way you suggest.
"Get ready for a huge campaign of social division before SHTF. It's easier to have the serfs fighting eachother, before the .gov comes in a sweeps the streets."
IT has already happened which is why this,
"More then ever, we need to realize as serfs of the United States, that we need to put aside our petty partisan squabbling, and stand together as one against our common foe..."
is not going to happen. And there are not enough balls among the "serfs" for this,
"the serfs revolt."
to happen!
I'm confused - what is it that makes an individual and individual? I don't recall having my thoughts controlled government. At least not as much as religion has controlled the individuals' thoughts for the last 6000 years (give or take a few billion).
Can you decide who you buy insurance from?
Can you decide how you want to use to your property?
Can you decide the cirriculum your children are taught in public schools?
Can you decide how to defend yourself?
* If you can't answer these questions, chances are you're already assimilated.
-Don't
-Avoid cities
-Home School
-Hand to hand baby
can you decide what plants you want to grow and what food you will eat?
Not according to .gov, even if you never move your produce off your proprerty, it is still subject o interstate commerce rules.
Welcome to america land of the free home of the very afraid.
Re; Get ready for a huge campaign of social division before SHTF.
Get ready? The last 5 yrs have seen more stories on racism than in the previous 20.
Black hate white.
Poor hate rich.
White hate black.
rich hate poor.
And yes it is a well known fact that a house devided cannot stand.
After all, they only have 1.6 billion rounds of hollow point ammo for domestic use.
I hope the Main Street people don't forget to pay income tax on their earned cow poop income...
If the Main Street People get injured when the cow poop gets too big, they will be thankful they have ObummerCare.
Psst...cows don't have horns :)
But my Edsel does.
Just wait until you become old and stoopid like me, and make obvious mistakes. I can't help that I'm full of bull ;-)
BTW: Why is it the devil proudly displays his horns, but Obummer keeps his hidden?
Pssst...you are an idiot. Both the male and female sexes of many, if not most, breeds of cattle grow horns, unless they are de-horned, as we do with our Milking Shorthorns.
case of the common nature deficit disorder
HH: Keep doing what you do. Don't try explaining shit to the great unwashed. JMO.