Guest Post: “The Sequel”: How 2011 Is A Repeat of 2008—Only Bigger, Longer, and Uncut by Bailouts

Tyler Durden's picture

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High Plains Drifter's picture

little timmie says to zog congress. 

 

we need 3 trillion or there is going to be riots in the streets.............

Long-John-Silver's picture

Free preloaded $1,000,000 debit cards for everyone that shows up to riot IF you go back home.

drink or die's picture

What happens if they run out of cards?  Would that make the rioting better or worse?

LeBalance's picture

nice joke.

they can't run out of cards.

spiral_eyes's picture

Meh.

I maintain until we get an oil shock or an import collapse (sparked by yuan flotation, or the dollar losing its reserve currency status) that this is still more like japan in the 90s.

http://azizonomics.com/2011/08/15/why-qe-didnt-cause-hyperinflation-2/ 

macholatte's picture

Investment tips for 2011

 

For all of you with any money left, be aware of the next expected mergers so that you can get in on the ground floor and make some BIG bucks. Watch for these consolidations later on this year:

 

1.) Hale Business Systems, Mary Kay Cosmetics, Fuller Brush, and W R. Grace Co. Will merge and become: Hale, Mary, Fuller, Grace.

 

2.) Polygram Records, Warner Bros., and Zesta Crackers join forces and become: Poly, Warner Cracker.

 

3.) 3M will merge with Goodyear and become: MMMGood.

 

4. Zippo Manufacturing, Audi Motors, Dofasco, and Dakota Mining will merge and become: ZipAudiDoDa.

 

5. FedEx is expected to join its competitor, UPS, and become: FedUP.

 

6. Fairchild Electronics and Honeywell Computers will become: Fairwell Honeychild.

 

7. Grey Poupon and Docker Pants are expected to become: PouponPants.

 

8. Knotts Berry Farm and the National Organization of Women will become: Knott NOW!

 

And finally...

 

9. Victoria 's Secret and Smith & Wesson will merge under the new name: TittyTittyBangBang

 

:)

boiltherich's picture

"For all of you with any money left..."

Ummmm, if there is indeed anyone that has any money left allow me please to say, if you have calculated a positive net worth for your personal financial situation do not forget to add in your fair share of the state, local, federal, and corporate debts, because there is not going to simply be a jubilee.  Some would argue that corporate debt does not belong on the list but I say it does since one way or another it is we out there in the economy that gets to pay the prices they charge for goods and services which include corporate debt service. 

In aggregate those debts come to about 60 trillion dollars, and a fair share is determined by dividing this amount by the number of people that are either working but not in poverty, because remember there are millions of workers that are in poverty, or not working but with substantial (non farm) assets.  I will take a wild stab at it and say that some 80 million are in this category.  60,000,000,000,000.00/80,000,000=$600,000 per.  So if you think you have a positive net worth you might need to subtract 600,000 and see if that still leaves you with anything. 

I am only really saying that there is absolutely no way this debt can be paid down either by growth in the economy or population.  Even at low interest rates it is still so monstrous that it grows beyond our ability to ever get control of it.  And note I did not even include the tens of trillions in household debt because you already know what your share of that burden is.  There is one way out and it will be the path we go down, it will be the Zimbabwe solution, the yenization, the Turkish Lira path.  And it will carry disastrous consequences that will leave us a hollow constitution and no freedoms at all.  It will reduce 99% of us to poverty, of course there will always be our fabulously rich 1%. 

Zombie households, zombie companies, zombie governments, food shortages in the USA, it is coming.

pelican's picture

It isn't the goverment's fault either.  The little girl was in training to be an investiment banker.

 

 

slewie the pi-rat's picture

+++++  LoL!

if Knott NOW merged w/ Sue Bee, they could put out everybody's fave:  Knott NOW Honey

piceridu's picture

"She is on benefits, does not live with the boy's father and has 10 other children, the court heard".

Welcome to the American futurama.

BigJim's picture

What a depressing video.

DavidC's picture

Very, very good! One of the best I've seen on ZH!

DavidC

dwdollar's picture

They will print Aces until Aces are so plentiful that the game loses meaning.  Anyone smart should quit before they lose their chips.

RockyRacoon's picture
Feral Capitalism Hits the Streets

Feral Capitalism Hits the Streets
by David Harvey
11 August 2011

“Nihilistic and feral teenagers” the Daily Mail called them: the crazy youths from all walks of life who raced around the streets mindlessly and desperately hurling bricks, stones and bottles at the cops while looting here and setting bonfires there, leading the authorities on a merry chase of catch-as-catch-can as they tweeted their way from one strategic target to another.

The word “feral” pulled me up short. It reminded me of how the communards in Paris in 1871 were depicted as wild animals, as hyenas, that deserved to be (and often were) summarily executed in the name of the sanctity of private property, morality, religion, and the family. But then the word conjured up another association: Tony Blair attacking the “feral media,” having for so long been comfortably lodged in the left pocket of Rupert Murdoch only later to be substituted as Murdoch reached into his right pocket to pluck out David Cameron.

There will of course be the usual hysterical debate between those prone to view the riots as a matter of pure, unbridled and inexcusable criminality, and those anxious to contextualize events against a background of bad policing; continuing racism and unjustified persecution of youths and minorities; mass unemployment of the young; burgeoning social deprivation; and a mindless politics of austerity that has nothing to do with economics and everything to do with the perpetuation and consolidation of personal wealth and power. Some may even get around to condemning the meaningless and alienating qualities of so many jobs and so much of daily life in the midst of immense but unevenly distributed potentiality for human flourishing.

If we are lucky, we will have commissions and reports to say all over again what was said of Brixton and Toxteth in the Thatcher years. I say ‘lucky’ because the feral instincts of the current Prime Minister seem more attuned to turn on the water cannons, to call in the tear gas brigade and use the rubber bullets while pontificating unctuously about the loss of moral compass, the decline of civility and the sad deterioration of family values and discipline among errant youths.

But the problem is that we live in a society where capitalism itself has become rampantly feral. Feral politicians cheat on their expenses, feral bankers plunder the public purse for all its worth, CEOs, hedge fund operators and private equity geniuses loot the world of wealth, telephone and credit card companies load mysterious charges on everyone’s bills, shopkeepers price gouge, and, at the drop of a hat swindlers and scam artists get to practice three-card monte right up into the highest echelons of the corporate and political world.

A political economy of mass dispossession, of predatory practices to the point of daylight robbery, particularly of the poor and the vulnerable, the unsophisticated and the legally unprotected, has become the order of the day. Does anyone believe it is possible to find an honest capitalist, an honest banker, an honest politician, an honest shopkeeper or an honest police commisioner any more? Yes, they do exist. But only as a minority that everyone else regards as stupid. Get smart. Get Easy Profits. Defraud and steal! The odds of getting caught are low. And in any case there are plenty of ways to shield personal wealth from the costs of corporate malfeasance.

What I say may sound shocking. Most of us don’t see it because we don’t want to. Certainly no politician dare say it and the press would only print it to heap scorn upon the sayer. But my guess is that every street rioter knows exactly what I mean. They are only doing what everyone else is doing, though in a different way – more blatently and visibly in the streets. Thatcherism unchained the feral instincts of capitalism (the “animal spirits” of the entreprenuer they coyly named it) and nothing has transpired to curb them since. Slash and burn is now openly the motto of the ruling classes pretty much everywhere.

This is the new normal in which we live. This is what the next grand commission of enquiry should address. Everyone, not just the rioters, should be held to account. Feral capitalism should be put on trial for crimes against humanity as well as for crimes against nature.

Sadly, this is what these mindless rioters cannot see or demand. Everything conspires to prevent us from seeing and demanding it also. This is why political power so hastily dons the robes of superior morality and unctuous reason so that no one might see it as so nakedly corrupt and stupidly irrational.

But there are various glimmers of hope and Light around the world. The indignados movements in Spain and Greece, the revolutionary impulses in Latin America, the peasant movements in Asia, are all beginning to see through the vast scam that a predatory and feral global capitalism has unleashed upon the world. What will it take for the rest of us to see and act upon it? How can we begin all over again? What direction should we take? The answers are not easy. But one thing we do know for certain: we can only get to the right answers by asking the right questions.


David Harvey is Distinguished Professor at the Graduate Center of the City University of New York. His latest book is The Enigma of Capital, and the Crises of Capitalism.

BigJim's picture

LOL. And who, WHO, will help us to find the right questions to ask? For a tenure? And a fat advance on his new book: We're all to blame, so I'm guessing no one's to blame.

What I love about these guys is that, because we are ruled by a subsidised kleptocratic elite that robs the productive class, they think it's justifiable for the subsidised underclasses to join in, even more than they are already.

SMG's picture

You are incorrect about who occupies government (ie the Zionist Occupied Government - zog reference).  It's the Lucifer worshiping Illuminati, not Yahweh worshiping Zionist.   The correct people must be brought to justice if we are ever to be truely free.

Please stop spreading incorrect info, it would help freedom's cause immensely.  Thanks.

  

Bastiat's picture

Many (most? all?) Orthodox Jews whould say "Yahweh worshipping Zionist" is a oxymoron. 

SMG's picture

Well my point is, if you blame Jewish people for the worlds ills, you are blaming the wrong people.   The real villans are the Illuminati.  And it is they who must be brought to justice for the common man and woman to be free.

BigJim's picture

He's not blaming Jews. Numerically, most  Zionists are actually bible-bashing evangelical Christians, who think Jesus is gonna come down an' save 'em when all the Jews get back to Isreeeeel.

Accidental Farmer's picture

Aren't the "jews" who controll everything Khazarians? Benjamin Freedman talks about it in a speech you can find on you tube.

SMG's picture

I read the article.   I think the term Zionist is confusing, as to most people when you start talking about Zionism, you begin to think Jewish, and the wrong people get blamed.   To me,  Illuminati clearly refers to the people in the article the Rothschilds, Warburgs and the like.    I think using the Illuminati terminolgy helps ensure the correct people are eventually brought to justice.  Thanks for the article though. 

BigJim's picture

..when you start talking about Zionism, you begin to think Jewish, and the wrong people get blamed.  

Well, the problem when you start talking about the 'Illuminati', you begin to think 'nut', and no one gets blamed.

TwelfthVulture's picture

An orthodox jew wouldn't say yahweh.

Thomas's picture

What's with this whole Jew obsession. Is it Yahweh or the highway? All I care is that they are bankers, and there ought to be a bounty on the top shelf bankers.

andybev01's picture

"Yahweh or the highway?"

 

lol!

PY-129-20's picture

It's Autobahn of course.

zorba THE GREEK's picture

It would solve a lot of problems if the Jews went back to Israel with a banker under their right arm and 

a lawyer under their left arm and a politician with his head stuck up their ass.

zorba THE GREEK's picture

Disclaimer... Zorba wishes not to offend anyone...Some of Zorba's best friends

hate lawyers and bankers and politicians too.

Nozza's picture

Orthodoix Jews / observant Jews would not say the tetrgammaton

Noz

Inibo E. Exibo's picture

You should, perhaps, google Abraham Abulafia and Prophetic or Ecstatic Kabbalah.  At it's core Jewish mysticism is all about the Name.

CrockettAlmanac.com's picture
Traditional Jews Are Not Zionists

 

Although there are those who refuse to accept the teachings of our Rabbis and will continue to support the Zionist state, there are also many who are totally unaware of the history of Zionism and its contradiction to the beliefs of Torah-True Jews.

 

http://www.jewsagainstzionism.com/

Dick Fitz's picture

Good link.

Blaming "Jews" for the work of a smal coterie of people who may or may not be Jewish (although a large minority of the most recognizable ARE of Jewish descent) is counter-productive and muddies the debate. The Illuminati are just another facet of this "conspiracy" and the amount of disinformation on both is astonishing. Look up "The Daily Bell" for a more in-depth examination of these families and groups, and it will help you refine your understanding of the attacks we have faced in the past, and the shape of their attacks in the future.

CH1's picture

Ignore them, Dick. These assholes populate  lot of threads here, mainly to waste everyone's time. Not many more effective ways to do that than screaming Antisemitic bullshit.

They are shills. The good question is who pays them?

Max Hunter's picture

It's the Lucifer worshiping Illuminati,

Of course, make it someone we could never identify or put our finger on.. Perfect!!

I am more equal than others's picture

Lucifer was Barry Obama's dad - so that make Barry son of satan.  There I've identified him.  Whip him your finger!  BO is perfect, perfectly evil........ booohaahaaa

Spirit Of Truth's picture

This is not so complex.  IMO Russian leader Vladimir Putin is the reincarnation of RasPUTIN, a name that means "lawlessness" in Russian.  

http://thespiritoftruth.blogspot.com/2009/10/russian-leaders-question-of...

2 Thessalonians 2 prophesizes that Jesus would return to expose the "lawless one" who, for all intents and purposes, represents the Evil One in the world, i.e., the Antichrist who makes war on the Jews and God's people during the Apocalypse:

http://thespiritoftruth.blogspot.com/2009/05/russias-secret-war-plans.html

Tis the great chastisement as the Kingdom of God is brought to our world, but as part of this a false kingdom of Satan will first be established to counterfeit the divine plan:

http://thespiritoftruth.blogspot.com/2011/01/historical-epiphany-russias...

Modern Christian eschatology 101.