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Guest Post: Enjoy The Central Bank Party While It Lasts

Tyler Durden's picture




 

Submitted by Peter Treadway of TheDismalOptimist

"It is patriotic to accept to pay a supplementary tax to restore the country.”

-Francois Hollande, the Socialist Challenger for the French Presidency, after proposing a 75% marginal   tax rate on earnings of over one million euros per year

“Patriotism is the last refuge of a scoundrel.”

-Dr. Samuel Johnson, distinguished eighteenth century man of letters and author of the influential A Dictionary of the English Language

“If this plan saw the light of day, it would end in catastrophe for French football."

-Frederic Thiriez, head of the French Professional Football League, in response to Francois Hollande’s tax proposal

Don’t Fight the Tape – But Prepare for an Unhappy Ending

Central banks are printing money all over the world. New names have been given to what is really an age old phenomenon. Desperate governments have traditionally debased their currencies when they have no other way of financing their deficits. Quantitative easing, LTRO, Fed/ECB swaps, whatever. A new technocratic lexicon has been invented to cover what is really a time honored expedient of debasement and paper money printing.

Investors for the moment almost have no choice. Get out the surfboard, hitch a ride on the global tsunami of freshly minted central bank money and get long equities. In 2012 equity markets have rallied everywhere, particularly emerging equity markets, and will probably keep doing so. Short term interest rates are near zero and likely to stay that way for the rest of this year. Investment managers are tired of telling their clients that they earned zero and had to pay a fee anyway. The European crisis has been overcome by massive LTRO money printing and a friendly “borrow all the dollars you want” swap agreement between the Fed and the ECB. And the US is in the midst of a tepid recovery (better than nothing!) Lastly, China seems to be slowing but not crashing.

Money must head for risk assets. Tough luck for defined benefit pension funds and retirees who until recently lived off of nice, safe bond income.

Bernanke’s little head fake of last week in not mentioning a QE3 can be taken with a grain of salt. The US has another $1.3 billion projected deficit to be financed and the fragile US recovery cannot stand a rise in short rates. A war with Iran would make the US deficit so much worse. The US unemployment picture is not as pretty as the recent decline in the official U3 rate to 8.3 percent would suggest. For one thing the Labor Force Participation rate continues to move downward. The broader and less quoted U6 rate which includes people who have given up looking for work for January is 15.1 percent. Bernanke knows the numbers. And recent Treasury data show some fall off in Chinese buying of US Treasury securities. US short rates will not rise and Treasury auctions will not fail. Not if the Fed can help it. The Fed will print.

Historically, countries faced with financing wars would print paper money and eliminate convertibility into a commodity such as gold, silver or copper. This happened over and over from Sung Dynasty China facing northern invaders, to the Napoleonic Wars, to the American Civil War and of course to World War I.

But this time it’s not wars but democracies’ underlying tendency to inexorably move to bankruptcy which is the culprit. Citizens vote to obtain through the political process what they cannot obtain in the market. Modern democratic governments are expected to socialize risk and redistribute income from the smarter (you would probably say luckier if you are on the left) affluent minority. The welfare state grows and grows, its costs disguised in the complexity of the budget process and ignored by the public anyway. Public sector unions, whose existence and freedom of actions politicians elected by universal suffrage found impossible to oppose even though they knew better, have accelerated the process. We vote for you, you reward us, is the working relationship most public sector unions in most democracies have with their politicians. No greater conflict of interest hath any country. The public sector debts have built up. And nobody has to bother lifting the fetters of a commodity money conversion requirement that was so important in the age of the classical gold standard before WWI. Richard Nixon cut the last of those golden fetters in 1971 when the US ceased to honor its commitment under the Bretton Woods Agreement to sell gold for dollars at a fixed rate to other central banks. Since the demise of Bretton Woods, every central bank in the world can be its own ATM machine. And indeed they have.

So far the world’s central banks have been “lucky”. Thanks to the prior global bubble ending in 2008 and the realization that the so-called advanced countries are reaching the end of their borrowing capacity, the world is in a massive deleveraging mode which tends to be deflationary. For the moment the central banks can get away with printing all the money they want without massive increases in consumer price indexes. The public doesn’t connect increases in prices of commodities like gold or oil with the current bout of money printing. But if history is any guide, this money printing will matter and the age of deflation and deleveraging will be followed by an age of inflation. Deleveraging or no, entitlements already promised will grow inexorably larger. Inflation of course is one way governments can effect major defaults on sovereign debt and unaffordable entitlements.

Regarding the global equity markets, I am seeing various forecasts from vaunted gurus ranging from imminent collapse, to rally in the first half of 2012 then followed by collapse to rally all year. I lean towards the last view. But with a very low confidence level. And with a fear that the party won’t go on forever.

The American Problem

This week’s New York magazine carries an article by Jonathan Chait entitled “Why Republicans Fear This Year Could Be Their Last Real Shot.” The article lays out how the growing demographic ascendance of African American and Hispanic populations versus the heretofore dominant white population spells long run catastrophe for the Republicans. According to the article, each presidential election sees the non-white proportion of the vote grow by two percent.

This demographic shift along with the overall aging of the population and decline of the worker/ beneficiary ratio (not mentioned in the New York Magazine article) will intersect with the coming need to deal with America’s burgeoning sovereign debt and entitlement crisis. Republicans in theory stand for smaller government, lower taxation and faster economic growth. Practice is another matter—Republicans often do the opposite of what their supposed ideology would recommend. The underlying populist dynamic of universal suffrage forces them to join the Democrats in expanding government and socializing risk. Today’s Democrats stand for bigger government, higher taxation and don’t worry as much about economic growth.

The coming American sovereign debt crisis—whether it’s next year after the election or ten years from now—will involve some mix of higher taxes and defaulting or reneging on government debts and entitlements. Just what the solution mix will be in terms of overt default/reneg, inflation, financial repression and tax increases remains to be seen. But unlike many other more homogeneous countries which face the same problem, the American version will in a part take on a racial/ethnic hue, i.e., older and more affluent whites vs. African Americans, (non-Cuban) Hispanics.

The data show that Hispanics and African Americans on average tend to be underperformers when measured by educational achievement or family incomes. Whites and Asians are outperformers. Obviously this kind of divide is not a healthy situation. Just why these gaps persist is a matter for educators, historians and policy makers, who unfortunately thus far have yet to come up with an uniformly agreed upon explanation much less a solution. Discussions of these issues often leads to anger and recriminations. But all that matters for the purpose of forecasting government spending and the conflicts that lie ahead is that the assumption is reasonable that this underperformance will continue for the intermediate future.

Presumably underperforming groups are greater users of government services, especially those programs like food stamps and Medicaid which are pure wealth transfers not camouflaged by phony trust programs like that financing Social Security. And, as the Republicans are fond of pointing out, only fifty percent of Americans pay income taxes. I have not seen data breaking this out along racial/ethnic lines but it is likely the profile of non-income tax payers and the income tax payers is quite different.

A preview of the way the coming American budget disaster and race will intersect in America can be seen by the reaction Newt Gingrich got when he labeled President Obama a “food stamp president.” Gingrich was himself labeled a racist for this although he never explicitly mentioned race. But his accuser implicitly assumed that minorities were the major food stamp recipients and that this was obvious to Gingrich.

The coming battles over solving the problems of the bankrupt American government will not be pretty. It will be a bit more difficult for an American president to preach patriotism to the affluent in these circumstances. Although, if there is a war with Iran, he might try.

The Future – There Is a Bright Side

I have been accused of being too dismal, and not optimist enough. So allow me to make a few at least semi-optimistic points:

1.     For investors globalization and the acceleration of technology offer significant rewards. I recommend to everyone a book by Ray Kurzweil called The Age of Spiritual Machines. While you might not agree with Kurzweil’s views on artificial intelligence, the central theme of this book is his law of accelerating returns. Under this law, technology is a continuation of human evolution and technology itself is speeding up at an accelerating rate. A more prosperous and healthier world lies ahead. As I see it, all those Chinese and Indian and other “third world” brains that have recently been added to the global economy will benefit everyone. And provide investment opportunities for Western investors.

2.     The world is not running out of energy or food. Technology is taking care of that and again investment opportunities will abound in these areas. In the energy area fracking and horizontal drilling have opened a bonanza in terms of natural gas and oil. If only the US and China would stop wasting money on so-called green energy boondoggles like solar and wind and ethanol in the case of the US. And again in the case of the US, get rid of arbitrary environmental obstacles. And let the market made the investment decisions! In the case of food, biotechnology will feed the world. Serious studies don’t find the Franken food scares to be valid. Again. Let technology do its work and let the market decide!

3.     A major fiscal crisis a la Greece and Iceland is coming to the advanced countries including Japan. Investors should be preparing now for the eventual major debasement of the dollar and the euro. Look to place funds in alternative assets like gold and in countries which won’t have a fiscal crisis like Australia, Singapore and Russia. There are alternatives.

4.     The US has been the land of technological innovation and economic progress. The world has benefitted.   It would be a global tragedy if this were to change. But there is a risk that the US fiscal crisis will be “solved” by more taxes, financial repression and cutbacks in services that that the government should be providing. The cutback in funding to the world renowned University of California system is an example of a bad decision. Education is cut back in order to pay outsized pensions to retired California workers. Parenthetically, this hurts members of minority groups for whom the University of California system was one avenue out of “underperforming” status. (Fortunately for-profit education may fill some of the gap.) US technological and military superiority is threatened not by China or India but by US fiscal profligacy. It is up to the US and the other advanced countries to make the right choices to deal with the fiscal crisis. It will not be easy but they can do it.

5.     Capital goes where it is welcome. This is true not only of physical and financial capital but also of human capital. It is a big globalized world out there. In the past the US was the big welcoming country. It still can be. But if the US and other advanced countries “solve” their fiscal problems with taxes and other growth stunting measures, then well-trained professionals and young people from these countries will think about emigrating to countries that don’t have major fiscal problems and won’t try to squeeze them for their last penny. Singapore and Australia are two countries that come to mind. Already it appears that Greek citizens are emigrating to Australia, as they did in the past. Smart people don’t have to stay where they are exploited. Smart countries will try to attract them. The Statue of Liberty in New York Harbor has a plaque that reads “Give me your tired, your poor.” That’s not the new migrant. Maybe someone will add a new plaque, somewhere at a spanking new airport in what used to be called a third world country or an advanced country that made the right choices. “Give me your brains, your ambitious.”

 

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Mon, 03/05/2012 - 13:01 | 2224225 evolutionx
evolutionx's picture
Moral and financial decadence

A deluge of an unprecedented magnitude is both inevitable and imminent. The consequences of the economic and political mismanagement will have a devastating impact on the world for a very long time. And the consequences will touch most corners of the world in so many different areas; economic, financial, social, political and geopolitical. The adjustment that the world will undergo in the next decade or longer, will be of such colossal magnitude that life will be very different for coming generations compared to the current social, financial and moral decadence. But history always gives us lessons and the one that is coming will be necessary and eventually good for the world. But the transition and adjustment will be extremely traumatic for most of us.

 

More:

http://www.mmnews.de/index.php/english-news/7423-apres-nous-le-deluge

Mon, 03/05/2012 - 13:06 | 2224239 SheepDog-One
SheepDog-One's picture

OH sure...'whats coming may be uncomfortable, but will be for our own good in the end'....complete garbage unless you belong to one of the 13 central banking families that own the world.

No mismanagement about it at all, all planned from the start.

Mon, 03/05/2012 - 13:09 | 2224260 trav7777
trav7777's picture

yes, of course, rather than continue to profit from a system of banking built on growth, it was always their plan 400 years ago to kill everyone off.  GTFO here.

Mon, 03/05/2012 - 13:13 | 2224264 SheepDog-One
SheepDog-One's picture

'Banking built on growth'....AHHH HA HA HAAAA Wow youre delusional, and obviously dont have the slightest clue of what central banking is and its purpose.

Mon, 03/05/2012 - 13:35 | 2224333 knukles
knukles's picture

And ya'll ready for the next meme...
Another fear based meme to scare the peasanrty into relinquishing more freedoms, surrendering a lrager proportion of their treasure to TPTB?
This week on the Science Channel program "Through the Wormhole" Morgan Freeman is hosting one about Not The Probablility of First Contact, but whether the little Green Men/Grays/whateverthefuck will be naughty or nice.... and you can bet that it'll be Hostile Little Mutherfuckers.
The New War on Terror, from 30,00 light years.

Now, the groundwork has already been laid.  The UN's nomination of a person and establishment of an office to serve as point for the "Visitation", the endless programs like "Ancient Aliens", the meme and conspiracy formentation from the foofighters and Roswell to the present, let alone speeches buy the likes of Kennedy and Reagan in front of the UN no less, comiserating upon the wonders of man's bonding upon the lifebost oppositie the alien invaders....
Come on, even Paul (Fuckmewhat'snextwiththishit) Krugman has speculated recently how the Threat would Goose the Economy....
Being set up, folks.
(Hell, Tyler even made fun of the whole sthick with the Imperial Death Star.)

Continued raping and pillaging of the wealth of the peasantry by the Business/Government Leviathan.

Anybody esle gotten thier private medical insurance renewal notices recently?
Another fucking by the Gubamint.  Coverages disappearing, rates skyrocketing, all under the caveat in the cover letter's note that rates have to go up and may continue to do so due to uncertainties with respect to Health Care Legislation.

Fuck Everybody

We Are Prey.

 

Mon, 03/05/2012 - 13:38 | 2224360 Harlequin001
Harlequin001's picture

'Coverages disappearing, rates skyrocketing, all under the caveat in the cover letters that rates have to go up and may continue to do so due to uncertainties with respect to Health Care Legislation.' That'll be nothing to do with printing money then?

But seriously, "Aincient Aliens"? Does anybody believe this shit?

I mean I know Star Wars was real 'cos I was there, but seriously...

Mon, 03/05/2012 - 13:44 | 2224376 tarsubil
tarsubil's picture

To me aggressive aliens makes no sense. Perhaps to a peer but not to us on this tiny insignificant planet. The most interesting thing on this planet is life and humans. Why would aliens come here and destroy those things? If there was some threat forseen if we have the potential to become peers, then they'd just ruin our economy through banking. Do the blood petri dish test from The Thing on Ben Bernanke and we'll know.

Mon, 03/05/2012 - 19:38 | 2226138 margaris
margaris's picture

thank you.

all conflicts on planet earth can be explained by its limited area and scarce ressources:

after all planet earth is like a limited 2d chessboard thats why conflict is inevitable.

but now imagine a limitless 3d universe. There are so many ressources, so much abundance, there are no boundaries. you will never feel threatened by the "borders" of someone else. There is always a "borderless infinity" around you where you can easily expand to.

 

Mon, 03/05/2012 - 13:43 | 2224379 Ahmeexnal
Ahmeexnal's picture

2.     The world is not running out of energy or food. Technology is taking care of that and again investment opportunities will abound in these areas. In the energy area fracking and horizontal drilling have opened a bonanza in terms of natural gas and oil.

 

Shhhh! We don't want the peak oil mullahs to suffer a sudden heart attack!

Mon, 03/05/2012 - 13:45 | 2224390 trav7777
trav7777's picture

and yet oil already peaked, you stupid fuck.

Mon, 03/05/2012 - 13:51 | 2224419 Ahmeexnal
Ahmeexnal's picture

Ahhh...trav the loser idiot.  The peak oil mullah.

All the girls who dissed you prefered a real man (hispanic/black/asian/native american) and that's why you hate them so much.

Check your facebook!

Mon, 03/05/2012 - 13:50 | 2224412 centerline
centerline's picture

http://www.theclimatehub.com/world-population-through-history

 

Hmmm... no problem in this chart.  LOL.

Mon, 03/05/2012 - 14:29 | 2224560 Think for yourself
Think for yourself's picture

It's not anybody's fault but yours if you can't conceive an arctan curve stabilizing towards a new equilibrium point.

I'll even give you a hint.

Mon, 03/05/2012 - 15:08 | 2224773 centerline
centerline's picture

LOL.  You forgot the /sarc.  and, Yup.  That transition is going to be bitch considering our economies are based on perpetual and exponential growth.

Everyday hear the MSM talking about getting "economies" growing.  Got to get 'em growin.  Amazing that no one stops to really think about that.  About what it means.  About how one keeps the system moving forward.  About how systems keeps the hamsters on the wheel.  

Mon, 03/05/2012 - 13:44 | 2224384 Ralph Spoilsport
Ralph Spoilsport's picture

We'll make great pets.

Mon, 03/05/2012 - 14:13 | 2224513 tickhound
tickhound's picture

Jane may have been right.

Mon, 03/05/2012 - 14:40 | 2224608 oddjob
oddjob's picture

Green for JA and PFP

Mon, 03/05/2012 - 13:38 | 2224361 trav7777
trav7777's picture

I know exactly what central banking is and its purpose, you paranoid jackfuck.

It's purpose is NOT to fucking kill off everybody, moonbat.

Mon, 03/05/2012 - 14:25 | 2224549 tickhound
tickhound's picture

After breezing through the comment section on "The Hill" regarding high oil prices, and reading the HOLY FUCK that is the comment section, I gladly return to the safe feeling I get from the zh forum... A place where most are knowledgeable and they have big dicks too.  And that's ok with me.

The comments in the pasted article are enough to make you truly say, "Fuck it, its hopeless"

http://thehill.com/blogs/e2-wire/e2-wire/214041-dems-amid-gas-price-rise-press-cftc-on-speculation-curbs

Mon, 03/05/2012 - 14:33 | 2224579 Think for yourself
Think for yourself's picture

Holy mother of god...

It cannot be unseen!

Mon, 03/05/2012 - 14:26 | 2224552 nugjuice
nugjuice's picture

TBH Trav you have a point. Some people give too much credit. On one hand they call the leaders stupid, and on the other hand accuse them of organizing and perpetuating the most massive conspiracy of all time. It's either one or the other...can't be both. I'm leaning towards stupid.

Mon, 03/05/2012 - 16:42 | 2225426 Silveramada
Silveramada's picture

profit? that's not the issue... control is the prize, they own all the money supply already

Mon, 03/05/2012 - 13:32 | 2224341 Silver Bug
Silver Bug's picture

This never ends well.

 

http://goldisking.blogspot.com/

Mon, 03/05/2012 - 13:09 | 2224255 trav7777
trav7777's picture

africans and hispanics will give us societies that resemble where they came from.

They ALREADY DO.  Detroit has more in common with Johannesburg than with Reykjavic.  Behaviors of people don't change as a result of geography.

This pathologically disgruntled and entitled bloc, fed by all the racial angst pushers, will progressively vote more and more and more for themselves and their sense of self-entitlement will only grow.  The majority population will begin to realize that acting like that generates results.  Gresham's Law.

Either the population that created civilization stands up and defends it or it will collapse.

Mon, 03/05/2012 - 13:13 | 2224271 GeneMarchbanks
GeneMarchbanks's picture

'Reykjavic'

Is that the latest NBA import from the Balkans?

Ethics still making you nervous?

Mon, 03/05/2012 - 13:37 | 2224340 knukles
knukles's picture

His name is Ray Kavech, he's Canadian, plays for the Flyers in the NHL.

Mon, 03/05/2012 - 18:57 | 2226019 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

I know it's fun to pick on Trav, but seriously http://lmgtfy.com/?q=Reykjavic

Mon, 03/05/2012 - 13:14 | 2224273 SheepDog-One
SheepDog-One's picture

OH right 'the hispanics and africans are whats bringing us down'....take your own advice, make like a tree and fuck off.

Mon, 03/05/2012 - 13:33 | 2224343 Hugo Chavez
Hugo Chavez's picture

It is true they bring their culture here. They dont have the puritan, self reliant, individual liberty and limited government tradition that many of us descended from original volonists have.

I speak spanish and have spent time in latin america. They look to government like they look toward daddy. They expect daddy to do things for them. Feudalism runs deep in their souls, but they dont recognize their mindset as feudal, but they believe vasals and leige lords have reciprocal duties and respinsibilities. They love a good master in latin america, but like children try to disobey at times and get away with stuff, still expecting their lords and masters to keep their end of the feudal bargain.

Mon, 03/05/2012 - 13:48 | 2224394 Hugo Chavez
Hugo Chavez's picture

We have enough "real americans" voting the socialist line that we can destroy a beautiful creation without the help of minorities. Our white native progressivists can kill american liberty all on their own.

Mon, 03/05/2012 - 13:56 | 2224443 Harbanger
Harbanger's picture

You're right in part but "they" didn't "bring" their culture here, we changed our culture to match theirs.  Slow cooked liberal culture rot is making us all World citizens or subjects. 

Mon, 03/05/2012 - 14:14 | 2224516 centerline
centerline's picture

Isn't there some sort of quote about the road to hell being paved with best intentions.  We keep changing the rules, creating loopholes, accommodating and accommodating on a mission to "be fair."  We wind up naturally in a place that is exactly the opposite.  What a joke it all has become.  Got to say that the "ebonics" thing from a handful of years ago had to be the funniest (and lowest) point in the process of killing American culture.  

Mon, 03/05/2012 - 14:56 | 2224701 AnAnonymous
AnAnonymous's picture

Isn't there some sort of quote about the road to hell being paved with best intentions.

______________________________________________

Indeed, there is such funny quote.

The road to Hell is paved with good intentions.

Quite funny.

Where are the bad intentions? Do they pave the road to hell too?

Do good intentions pave the road to heaven ?

And is the road to heavens is also paved with bad intentions?

Isnt a funny quote indeed?

Mon, 03/05/2012 - 13:16 | 2224281 centerline
centerline's picture

The number of people who live off the system in some way (including gaming the system) outnumber those who do not.  It would take generations of constant pressure to change the direction here without going critical mass.  I wager we simply dont have the luxury of that amount of time.

In the end, rest assured that the people themselves will be made to blame.  It will be the last (and ultimate) trick played on the masses.  Both shameful and inevitable.

Mon, 03/05/2012 - 13:37 | 2224355 Alcoholic Nativ...
Alcoholic Native American's picture

Will the population entitled to the position of the creators of civilization please stand up!  Yes oh wize one, I'm pathologically disgruntled about these damned scapegoats fucking it up for us.

They hate us because we created civilzation. We are being persecuted!

You sell a good product trav

Mon, 03/05/2012 - 13:40 | 2224368 trav7777
trav7777's picture

idiot.  when you have spoiled brat kids that you let behave like spoiled brats, you reap the "rewards" thereof.  You are not persecuted.

Stop twisting shit around into strawmen so you can seem smart.  Fuckin dunce.

You want to be more like africa, bring more africans.  More like latin america, bring more hispanics.  It is as SIMPLE as that no matter how wilfully obtuse you are.

Mon, 03/05/2012 - 14:36 | 2224587 Ahmeexnal
Ahmeexnal's picture

Trav the racist moron, who believes in peak oil, pink unicorns, and Justin Bieber as the epitome of white culture supremacy.

 

Mon, 03/05/2012 - 15:03 | 2224749 Silver Dreamer
Silver Dreamer's picture

There are an awful lot of "white" poor in America who are lazy and ignorant too.  Ethnic background has little to do with it.  It's cultural perhaps, but it's the culture our government school system and MSM have shaped over a few generations, not that of a person's country of origin.  My family has some of those poor "white" folks in it, and they think they are entitled just like many others.  Collectivism is the "culture" that has ruined America.

Mon, 03/05/2012 - 15:39 | 2224946 Random_Robert
Random_Robert's picture

Trav777 likes to evade that simple (yet inconvenient) fact...

I've brought it to his attention many times.

However, I am also fascinated how white people who tend to occupy lower socio-economic niches typically engage in "culture envy" 

It seems tha Appalachian "deliverance" style hillbilly is the only valid and uncorrupted archetype for white poverty.

Everything else is just Eminem or Vanilla Ice. 

Mon, 03/05/2012 - 15:38 | 2224949 AnAnonymous
AnAnonymous's picture

Collectivism? No, US citizenism.

Mon, 03/05/2012 - 17:04 | 2225555 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 13:43 | 2224378 Offtheradar
Offtheradar's picture

Bush said "They hate us for our freedom."

Mon, 03/05/2012 - 15:52 | 2225041 Random_Robert
Random_Robert's picture

EXACTLY.

So naturally the solution is to take all those freedoms away so they will love us.. right?

 

Mon, 03/05/2012 - 13:38 | 2224363 AnAnonymous
AnAnonymous's picture

Detroit is such a significant part of the US.

US citizens know well that without this city, all will be all. The rotten apple in the bag of apples...

As history shows, people who've supported, developed and furthered US citizenism, are Indo Europeans, with their star group, the Germans.

Claiming that the latinos, the negroes, the chinks etc have any meaningful influence on the normal course of US citizenism is just US citizenish.

One could have much better chances trying to argue that they were introduced to fit the fall guy part, when things were already so advanced it was useless to hope another outcome than the current outcome.

Mon, 03/05/2012 - 13:42 | 2224373 trav7777
trav7777's picture

huh?

So us citizenship is us citizenshipish?  GFD you are stupid.

Mon, 03/05/2012 - 14:13 | 2224509 AnAnonymous
AnAnonymous's picture

US citizenship? Where is that?

Please provide the line where I stated that the current situation is the result of US citizenship.

I wrote that the current situation is the result of US citizenism, that doctrine that US citizens like you, fond of dilution of responsibility, label as 'Americanism'

Ad hominems as the only possible answer are so US citizenish.

Mon, 03/05/2012 - 17:03 | 2225554 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 14:13 | 2224511 Grey-Ghost
Grey-Ghost's picture

Check out a quite powerful documentary by Julian Temple - REQUIEM FOR DETROIT.

http://rutube.ru/tracks/3971045.html

(do not let Russian domain, confuses you - it's in English and it's worth watching - perhaps the land of the free does not like to promote such a movie; not sure)

Mon, 03/05/2012 - 14:29 | 2224562 Conrad Murray
Conrad Murray's picture

Enjoying it. Thanks.

Mon, 03/05/2012 - 15:12 | 2224770 Silver Dreamer
Silver Dreamer's picture

Spaseba! Edit: Apparently ZH doesn't like Russian fonts.

Mon, 03/05/2012 - 13:59 | 2224449 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

trav, those "africans and hispanics" act like they do because of the underlying culture, NOT race. The only way to change them is to force them to adopt a better way of living. Make them be responsible and their actions will quickly change. Giving them welfare allows them to be lazy and their worst nature appears. It is not race, it is culture. You can put more blame the proponents of the Great Society on this issue than the actual victims of an entitlement society.

Mon, 03/05/2012 - 14:19 | 2224530 AnAnonymous
AnAnonymous's picture

Ah, the cultural argumentation.

But the latinos and the negroes in the US follow US citizenism.

They are as US citizen as the other US citizens.

What you see in them is the what you get when US citizens are put in the situation they are.

US citizenism does not favour responsibility.

Responsibility includes reaping the benefits of positive consequences to an action while enduring the negative consequences of the same action.

US citizenism looks for an optimal pattern that forces to stand up for the positive consequences of an action while shifting the burden of negative consequences onto a third party.

US citizenism does not promote responsibility.

Ironically enough, those US citizens sit on the wrong side of the fence, the side where you have to endure the negative consequences when benefiting very little from positive consequences.

US citizen societies are winner/loser societies.

Mon, 03/05/2012 - 19:23 | 2226101 neidermeyer
neidermeyer's picture

I'm inundated with RICANS here in Florida ... I see little difference in the actions despite the differing  "culture"..

Mon, 03/05/2012 - 16:42 | 2225424 trilliontroll
trilliontroll's picture

"the population that created civilization"

nice phrase - have a look on their warm welcome for example back in 1860s

http://www.youtube.com/watch?v=3s2d3kkP1rg&feature=related

 

Or Gangs of New York (would you participate?) - native versus immigrants "dispute"

http://www.youtube.com/watch?v=oR-UU_Or63Q&feature=player_detailpage#t=81s

The owners defending america (their god given property rights )

( 1980 : Heaven's Gate )

http://www.youtube.com/watch?v=6W3halBD-mU&feature=related

 

 

Mon, 03/05/2012 - 13:19 | 2224290 JennaChick
JennaChick's picture

These guys nailed it once again, selling crude oil and playing against idiot central banks: http://www.spadacapital.com/?articleID=2236

Mon, 03/05/2012 - 13:29 | 2224331 Harlequin001
Harlequin001's picture

Fuck Off!!

Mon, 03/05/2012 - 18:31 | 2225952 TheFourthStooge-ing
TheFourthStooge-ing's picture

JennaChick the Estonian spammer said:

[nothing important, just shilling]

spadacapital.com = armadamarkets.com = fucking spammers

Minna põrgusse, spammer!

Persse saata!


Mon, 03/05/2012 - 13:03 | 2224230 SheepDog-One
SheepDog-One's picture

The central bankers designed all this nonsense 'unforeseen emergency conditions' so they could print as much free money as they wanted under the guise of 'saving the economies' but in reality were out buying up all the bonds and a lot of the stocks of all these countries for themselves, at no cost to themselves, and theyre basically done now.

 

Mon, 03/05/2012 - 13:11 | 2224266 The Grip
The Grip's picture

Excellent one-sentence explanation for the uninitiated ... extra Iams for SD1 tonight! Bonus bone for no technical terms or acronyms.

Mon, 03/05/2012 - 13:33 | 2224344 Crab Cake
Crab Cake's picture

All thats left is to do is to go take what they have, and hang them from a lightpole...

The internet and the information age are challenging the age old propaganda methods and techniques of those in power. Sooner or later violent civil unrest/war, and or the death of "free" society at the hands of stasi jackboots, are a certainty.

Mon, 03/05/2012 - 14:14 | 2224517 Ahmeexnal
Ahmeexnal's picture

Correct.

The TSA is one such example.  It will soon become the US equivalent of the russian NKVD.

Mon, 03/05/2012 - 13:35 | 2224349 JR
JR's picture

I regret that I am only able to give one plus to your comment.

Mon, 03/05/2012 - 13:44 | 2224382 trav7777
trav7777's picture

you are an insane crackpot.

The central banking racket was MORE THAN profitable enough for 400 years as it was.

This shit wasn't DESIGNED, you frickin wingnut.

Mon, 03/05/2012 - 13:06 | 2224246 Shizzmoney
Shizzmoney's picture

“If this plan saw the light of day, it would end in catastrophe for French football."

   -Frederic Thiriez, head of the French Professional Football League, in response to Francois Hollande’s tax proposal

  

Au contraire, French FOOTBALL is a catastrophe, in itself.

  

Sure, it was the TAX that made them overpay players for a shitty league that created all of this DEBT:

 

http://soccerlens.com/the-football-debt-league-top-10-most-indebted-clubs/50035/

 

Maybe if France stopped trying to compete with Spain and England, then the owner wouldn't be complaining and crying poor so much.

Mon, 03/05/2012 - 13:08 | 2224250 SheepDog-One
SheepDog-One's picture

People still believe this is all basically a bunch of well intentioned yet blundering 'policy makers' and their mistakes, but it will all somehow come out for the better in the end? Mass delusion.

Mon, 03/05/2012 - 13:25 | 2224316 centerline
centerline's picture

Seems to me that history shows us this monetary scheme has a pattern. And it certainly includes war, death and destruction.  

I would also suggest that a couple of hundred years ago at least, when this current round of fiat money was being warmed up, there is no way anyone could have predicted the industrial age and what it meant.

I think the central planners rode this particular fiat wave like pros only to realize they were surfing a tsunami. They now are starting to realize they are fucked.  Rome redux.  A combination of best intentions, greed, and greed using best-intentions as weapons!

Mon, 03/05/2012 - 13:35 | 2224352 Hugo Chavez
Hugo Chavez's picture

It could still take 100 years or more to collapse.

Mon, 03/05/2012 - 14:00 | 2224451 centerline
centerline's picture

If they are successfull, it definately could.  In fact, I think this is really the plan.  To manage the world population into a new era rather than have an outright collapse.

They have to manage a transition sooner or later.  A system reset might fix the "fiscal" side of things, but the resource constraints are all too real.

The problem I keep coming back to is the urgency of the issues at hand.  The promises that have been made are due in a much shorter timeframe and the feedback loop is negative.

 

 

Mon, 03/05/2012 - 15:55 | 2225057 MachoMan
MachoMan's picture

Ultimately, the transition requires innovation that probably won't be forthcoming...  not only is oil a limitation and our stagnant economy a limitation, but human ingenuity is also a limitation...  we really, really have to develop some game changers here and I really, really don't think we're going to pull a rabbit out of the hat...

This is the fate we accept when we embrace the boom/bust version of advancement.  And I use the term embrace loosely, given it is often thrust upon us via money changers.

Mon, 03/05/2012 - 15:23 | 2224860 Silver Dreamer
Silver Dreamer's picture

No, no, no.  Every fiat currency ever created was always intended to be stable and maintain its value to infinity. har har

Mon, 03/05/2012 - 13:10 | 2224259 Little John
Little John's picture

Got .308 ?

Mon, 03/05/2012 - 13:10 | 2224263 SILVER_GIRL
SILVER_GIRL's picture

where is the party ? :)

Mon, 03/05/2012 - 14:08 | 2224494 Ahmeexnal
Ahmeexnal's picture

En las Docas?

Mon, 03/05/2012 - 13:14 | 2224272 Offtheradar
Offtheradar's picture

Correction, projected $1.3 trillion for account deficit

Mon, 03/05/2012 - 13:17 | 2224282 BKbroiler
BKbroiler's picture

"The world is not running out of energy or food. Technology is taking care of that"

yeah, like solar and wind... oh wait:

"If only the US and China would stop wasting money on so-called green energy boondoggles"

ok, you lost me, so we have the technology to use oil and coal forever? 

Mon, 03/05/2012 - 13:24 | 2224311 tarsubil
tarsubil's picture

He's talking about all the technological advancement people on food stamps come up with. This giant tide of innovation will save us.

Mon, 03/05/2012 - 13:32 | 2224338 Harlequin001
Harlequin001's picture

like 'how to claim, twice'...

Mon, 03/05/2012 - 13:34 | 2224348 BKbroiler
BKbroiler's picture

actually, being broke forces you to innovate.  I can't wait to see how ex-bankers revolutionize the winshield cleaning trade next year.

Mon, 03/05/2012 - 13:54 | 2224424 Harlequin001
Harlequin001's picture

Oh that's fuckin easy. they take the windshield out, use it as collateral down at the local windshield shop for ten more using a fractional reserve depsit scheme, sell of the ten windshields at half price thus making five times their investment, more if they short their own stock first and then go buy a bank.

All they need then is a govt bailot to go buy another car (but this time with a windshield) and then they're back in business.

easy...

Mon, 03/05/2012 - 13:50 | 2224402 Confused
Confused's picture

Yeah. Lost me at this one as well.

 

If he thinks innovation/technology will save us, why wouldn't these specific new technologies be part of that?

Mon, 03/05/2012 - 14:07 | 2224486 BKbroiler
BKbroiler's picture

I think the "technology will save us" card has been played for both food and energy.

There are limits to how much weight a cow can support, how large a earn of corn will grow.  You could argue otherwise, but I don't want to eat a steak from an 8 foot cow and I don't want to butter a chevy sized earn of corn.  

Solar and wind might not be there yet, but it makes a bit more sense to invest in a technology with limitless supply and work on the efficiency part rather than trying to make a dwindling resource a bit cleaner before it is exhausted.  

Mon, 03/05/2012 - 13:18 | 2224286 Fix It Again Timmy
Fix It Again Timmy's picture

This, since 1913, has been like ants marching around the rim of a glass, eventually they will die from exhaustion...

Mon, 03/05/2012 - 13:23 | 2224305 Frummox
Frummox's picture

"Kurzweil’s views on artificial intelligence, the central theme of this book is his law of accelerating returns. Under this law, technology is a continuation of human evolution and technology itself is speeding up at an accelerating rate" I will buy that technology is speeding up, but the conclusion of "A more prosperous and healthier world lies ahead." Is dubious. Those that own the technology, control the energy to power the technology and those can afford it will get excelerated returns.

 

 

Mon, 03/05/2012 - 13:48 | 2224396 trav7777
trav7777's picture

Kurzweil, like every technocornucopian, is full of bullshit.

Technology isn't accelerating...for example look at CPU speeds.  Moore's Law is running smack into the Laws of Physics and the effects of inevitable diminishing returns are present.

NOTHING can grow forever, no matter how fuckin hard moonbats hope it does.

Mon, 03/05/2012 - 18:39 | 2225973 TheFourthStooge-ing
TheFourthStooge-ing's picture

Kurzweil is a self-deluded wealthy lunatic who refuses to see the big picture.

 

Mon, 03/05/2012 - 14:06 | 2224487 eddiebe
eddiebe's picture

I'm with you Frumm.Kurzweil obviously didnt take into consideration that there are limits to what our environment can acommodate. Just like a parasite when going 'viral' will kill its host, so are we, if continuing un-checked killing our host. Meanwhile we like Nero fiddling, are fiddling around over bullshit issues like phony mortgages and clooateralized debt. The list goes on and on. Ludicrous.

Mon, 03/05/2012 - 14:24 | 2224542 AnAnonymous
AnAnonymous's picture

"A more prosperous and healthier world lies ahead." Is dubious. Those that own the technology, control the energy to power the technology and those can afford it will get excelerated returns.

_________________________________________________

It is classical US citizenism to state that the world is sumed up by themselves.

They are humanity, the rest is sub humans or non humans.

Yet this guy repeats quite well one of US citizenism central mantra, that US citizens were superior because they could, contrary to others, overcome their environment, and not, as it is blatant to see, much more efficient extorters of the weak and farmers of the poor than anyone else in recorded human history.

Mon, 03/05/2012 - 15:08 | 2224771 Whoa Dammit
Whoa Dammit's picture

The attitude that you so despise originated with the English We in the US, who are here mainly because we were kicked out by the English for being poor and thus a drag on their economy, only copied their playbook. Study up on the history of the British Empire. ;-)

Mon, 03/05/2012 - 15:40 | 2224978 AnAnonymous
AnAnonymous's picture

That too much of people story is a fact.

But copying their playbook, no.

US citizenism brings its own specifities.

Dilution of responsibility through stuff like We The People is one.

Wasnt done before US citizens.

Mon, 03/05/2012 - 16:58 | 2225527 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 16:58 | 2225523 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 13:23 | 2224306 Hugo Chavez
Hugo Chavez's picture

We should never have allowed people to become dependent on the government. Even though I am now in the one percent after 26 years of effort and self discipline, and some luck, there was a time in my youth that we qualified for reduced price school lunches. My mother refused out of principle.

It is shameful what some americans have become, entitled lazy, and selfish.

Mon, 03/05/2012 - 14:08 | 2224492 AnAnonymous
AnAnonymous's picture

Fabled past.

The story of the US is a success story of the government state.

US of A citizens have been since the beginning dependent on their state.

US citizenism reads also a story of destruction of stateless/taxless societies to favour state/taxed societies.

Fabled past, fabled past...

Kicking the can, fictional world. That is the legacy of US citizenism to the world.

Mon, 03/05/2012 - 14:41 | 2224614 viahj
viahj's picture

Free Tibet

Mon, 03/05/2012 - 14:57 | 2224715 AnAnonymous
AnAnonymous's picture

Free Taiwan.

Free Tibet.

Free the United States of America.

Mon, 03/05/2012 - 16:58 | 2225520 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 15:01 | 2224738 tarsubil
Mon, 03/05/2012 - 16:57 | 2225519 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 13:26 | 2224309 JR
JR's picture

The goal of international socialism, “world order,” is to enslave mankind at the “behest of international debt capitalism.” The Rothschilds established their world dynasty not through making loans to individuals but to nations. As someone once said, “the wealth of Rothschild consists of the bankruptcy of nations.”

Rush Limbaugh may be the leading spokesman of the War Party but this past week he became the leading spokesman against the destruction by socialism of the Christian-oriented family values concept brought to these shores by our Pilgrim fathers.

With the so-called apology to save his advertising supported $53 million salary, there was the expected explosion from the Obamatized socialist  welfare culture.

But it hasn’t worked. Rush’s message is out and raging. Sleep Train and other advertisers who pulled their support of Rush claiming his values aren’t their values, in essence are saying their values are unlimited sex paid for by the taxpayers.  America’s middle-class families will now vote with their pocketbooks to get Sleep Train values out of their bedrooms.

The rush to attack Rush came because Rush is hitting the socialism.

Socialism! That’s the Jewish bankers’ economic program for America; that’s how they operate; how they are able to control government and the message – through Hollywood and progressive web sites such as AOL/Huffington Post; through the networks and the East Coast media such as the Washington Post and the NY Times. All other voices are silenced.

This socialist message, of course, is based on one of the tenants of the Rothschild Dynasty dictates in the Communist Manifesto: Abolition of family life and the institutions of marriage and the establishment of communal education for children.

So along comes Ms. Slut (a 30=year old feminist who apparently came to Georgetown University just to raise the contraceptive issue) demanding free contraceptives and “free” sex for the lobotomized Boardwalk Circus Set and when Rush makes the connection to her socialist agenda – the purposeful breakdown of the family through their feminist agenda – it is an affront to their socialist pattern.

Not to mention, of course, the profits in sex: after all, as David Wemhoff says, abortion is from the Jews. America’s abortion laws were overturned by two Jews – Bernard Nathanson and Lawrence Lader.  As Nathanson said:  America would have rejected the decriminalization of abortion had they known it was the work of “a bunch of crazy Jews from New York.”

No longer are Rush or Pat Buchanan to be allowed to defend a man/woman/child Protestant family that celebrates Christmas and believes that ultimately God is in charge. No! These families are the enemy of socialism because they will not give all power to the international oligarchs; they want the political and economic power in the hands of individuals and a representative government. These Americans are the enemies of the Jewish anti-Christian culture icons: Freud, Scorsese, Lady Chatterley’s D.H. Lawrence (whose works were brought to the American public by the Jewish/ Russian import and book translator Thomas Seltzer who worked with Max Eastman and others as editor of the socialist magazine, The Masses), the Edward Bernays , Philip Roths, Lears, Ginsbergs (feminist “Ruth Bader” and pornographer “Allen”), Freidan, Allred...

The list of these culture icon destroyers who push the envelope against the family and against Christianity goes on and on. They’ve slipped out of the shadows in order to break new ground, and the enemy territory is always America’s Christian values. Professing to bring cultural freedom, they are loosing license as a means to turn control over to the state.

When a society turns its control over to the unpropertied masses, to democracy socialism, that votes itself special privilege and state welfare at the taxpayer’s expense, the impoverishment ends in control by the state. IOW, the majority makes the decisions that end in third party control. And the third party always is a tyrant. Why? Because the unwashed circuses and bread majority are not the people who will represent the minority responsibility viewpoint, who will fix the roads, collect the taxes, teach the values, establish a republic; freedom. The majority, in the end, always votes itself the treasury at another’s expense, and should the latter attempt to resist, the majority and their handlers use “democracy” to stop their value judgments.

And once democracy votes private property and inheritances into a national pool to benefit the State, it's game over, the end of freedom

Mon, 03/05/2012 - 13:27 | 2224324 SmoothCoolSmoke
SmoothCoolSmoke's picture

Let me guess?  White Christian male?  Do I win?

Mon, 03/05/2012 - 13:31 | 2224336 JR
JR's picture

Yes. But no cigar.

Mon, 03/05/2012 - 14:28 | 2224559 trav7777
trav7777's picture

so the group that created what we like to refer to as "civilization"?

I find amazing how much the brown people denigrate white culture while putting up youtube videos bragging about how they been had all of the consumer shit white people created.

Browns were disenfranchised by nature, not whites.

Mon, 03/05/2012 - 13:40 | 2224366 Hugo Chavez
Hugo Chavez's picture

And how does his ethnic background and genitals change the observation since plato's day that democracy always ends this way?

Mon, 03/05/2012 - 14:38 | 2224602 trav7777
trav7777's picture

ask the people who invented the word "racism" and have so dominated the marxist movement that they have been interchangeably associated with it since its inception.

It's in vogue to berate the creators of civilization whilst simultaneously demanding they make more of it.

You can witness this paradox all over, at the lowest level how various demographics complain about excessive incarceration of their kin but then bitch over inadequate policing to address high local crime rates.

People are simply not born equal.

Mon, 03/05/2012 - 15:00 | 2224735 AnAnonymous
AnAnonymous's picture

Made me laugh.

No, it is no vogue to berate the creators of US citizen civilization.

The result of US citizen civilization speaks for themselves.

The great advance for humanity, depletion of resources.

That is great.

And when those great inventors of civilization kick the can on people they deem irrelevant to the process they initiated, developed and furthered, it grows even funnier.

Mon, 03/05/2012 - 16:57 | 2225517 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 15:43 | 2224989 AnAnonymous
AnAnonymous's picture

People are simply not born equal.
_____________________________________

Yep, US citizens stand far above when it comes to Ponzi, extorting the weak, farming the poor, kicking the can, shifting the blame and so other things.

US citizens bear no rival.

Mon, 03/05/2012 - 16:56 | 2225514 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 13:45 | 2224388 GeneMarchbanks
GeneMarchbanks's picture

'They’ve slipped out of the shadows in order to break new ground, and the enemy territory is always America’s Christian values.'

Maybe you should approach this from a different angle. Those 'values' seem to me to be severely undermined from the inside more than external influences. If you hold steady to a set of ideals, no matter what they be, your general sense of victory or failure should be a personal issue and therefore subject to your own capacity to hold on to them. The terrible truth of the matter is Protestantism in the States is basically morality and nothing more.

Mon, 03/05/2012 - 14:31 | 2224568 JR
JR's picture

Gene, we’re not talking here about the happiness of the individual. We’re talking about a nation here of more than 300,000, 000 people, and that is something I cannot control or influence by my silent internal beliefs. I may be able to achieve satisfaction within myself but that doesn’t protect the innocent or the form of government our Founders provided “if we can keep it,” i.e., our freedoms.

There are far too many people who worry only about themselves; I’ve got mine, too bad about you. And then someday a propagandized product of these vocal cultural-icon blasters comes in and rapes a man's wife, and puts a knife in his ribs, but he is ”victorious” because he silently held onto his internalized values?

How can we retain a government representative of the Christian values held by 70 percent of the American people when the Jews who deny those values control the political process through their money and their control of the media. And if they don’t control our “representative” government, how else to explain the 29 standing ovations our “congress” gave to Binyamin Netanyahu in May 2011 when Obama tried to restart the peace process in Palestine? How else to explain the Sheldon Adelsons who can give their political puppet Newt Gingrich $11,000,000 for his support of Israel and promise to bomb Iran and I can give no more than $4,000 to Ron Paul, thanks to “our” Supreme Court?

Is the typical American response to this destruction of their society to be silence? I say No!

Mon, 03/05/2012 - 14:46 | 2224646 GeneMarchbanks
GeneMarchbanks's picture

'How can we retain a government representative of the Christian values held by 70 percent of the American people when the Jews who deny those values control the political process through their money and their control of the media.'

Sigh...

Is it possible that that 70% is just something people say when asked but in actuality(when no one is looking) act entirely different? Is it possible that the elected officials present exactly the top echelon of US society and their values? Something to meditate on...

So anyway, did you notice that the Chinese banned Lady Gaga? Here:

http://www.bbc.co.uk/news/world-asia-pacific-14644374

There are countless examples of nations unwilling to be subject to US 'culture'.

Back to my point, which is that 'values' in most major metropolitan areas in the States are set by advertising and marketing which has itself become a kind of religion. Can that be reversed easily? Doubt it.

 

 

Mon, 03/05/2012 - 15:31 | 2224911 JR
JR's picture

Gene, you ask: “Is it possible that the elected officials present exactly the top echelon of US society and their values?”

Answer: It is spectacularly impossible that this is what’s happening. Instead, a dark, criminal tyranny has taken over the reins of policy, communication and representative government in this country. It’s easy to see that the population is denied its voice and its opinion. It is true that a segment of the population - so-called opinion leaders, gatekeepers, public officials and corporate executives – go along with this pervading trend set out by the tyrants, but this group would hardly represent as much as 5% of the population.

Most people, even those unaware, want what’s best for their families, their communities and the future of their nation. Why else try, take chances, work hard so that you can accommodate someone else’s priorities, namely the tyrants’. What percent of parents enjoy seeing their children destroyed…? Americans, no more than the Chinese, want their children put at risk by the likes of Lady GaGa, perpetrated upon them by those with a long history of destroying host societies. Americans, unfortunately, unlike the Chinese, have little cultural representation in their government…

Mon, 03/05/2012 - 15:04 | 2224752 AnAnonymous
AnAnonymous's picture

And what are those Christian values?

Quite a story being sold here.

US citizens have not changed one bit since the inception of the US of A.

The environment has changed. Many resources were lost to sustain the US citizen experiment.

But US citizen nature has not changed.

What is perceived now is not a change in their nature, but a change in the environment. A change that came, courtesy of US citizens.

Mon, 03/05/2012 - 16:55 | 2225507 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 14:05 | 2224483 AnAnonymous
AnAnonymous's picture

Quite a statement about the fabled past US citizens cherish so much...

Underlining one point:

When a society turns its control over to the unpropertied masses,

Indeed that is an issue.

You know, when you rise yourself thanks to theft, you reach one point, if you are successful enough, when you own the large majority of the marbles.

Glorifying theft as you did previously, when you were rising up, is made counter productive. Negative return on theft as you own the most and you are going to be robbed more than you rob.

That is the story of the US of A, the mecca of US citizenism.

So now, while they glorified theft, US citizens are now looking by all means to ban theft, property has to be sacred.

Because funnily, who was the landed minority when the US of A started their land grabbing streak? The Indians.

Did they transfer control to the Indians? Were US citizens not Christian?

Non sense, constant denial of facts. Lie over lie. US citizens can not make sense within US citizenism.

Mon, 03/05/2012 - 14:47 | 2224649 trav7777
trav7777's picture

The injuns were thieves.

And they didn't invent space flight or the transistor, so fuck them.  Injuns came into possession of land via the institutionalized genocide of other injuns.  I guess that makes them US Citizenismists as well.  Idiot

Mon, 03/05/2012 - 15:07 | 2224768 AnAnonymous
AnAnonymous's picture

Institutionalized genocides? How so?

History has shown that Indians were not apt in leading large scale genocides.

What were those institutions they used to lead those genocides?

Besides, the post is also quite clear, US citizens have risen from the ranks to become the most efficient extorter of the weak and farmer of the poor human history ever recorded.
Which suggests that there were other extorters and farmers.

So creating a strawsman once again?

Ah, standing for US citizenism is not that easy as time passes by and obvious facts to deny only grow more obvious.

Mon, 03/05/2012 - 16:55 | 2225501 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 14:47 | 2224650 viahj
viahj's picture

You know, when you rise yourself thanks to theft, you reach one point, if you are successful enough, when you own the large majority of the marbles.

 

Are you talking about CHICOMs or US Citizenism?

Mon, 03/05/2012 - 15:10 | 2224779 AnAnonymous
AnAnonymous's picture

US citizens, US citizens.

Chinese are lagging way behind when it comes to theft.

See, they are coerced on the issue of Taiwan by descendents of land grabbers who stole the land from the Indians to found the US of A.

Quite telling on the chinese capacity to theft.

Mon, 03/05/2012 - 16:54 | 2225496 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 15:05 | 2224756 JR
JR's picture

It has been said that the ghosts of the billions massacred by the socialist Brotherhood of Death cry out for retribution – especially the victims in Russia and Eastern Europe and China.  Are we to ignore their plight only to add Americans to that scandalous list? Are Americans to be forced into more contrived “wars” to further socialism for the profits of and empowerment of the international bankers for whom we must sacrifice the gains earned by the sweat of our brows because it is their sacred right. NO!

Wake up, AnAnonymous. Neither you nor I any longer can afford to be misled by thought control via the media, the educational process, and the government institutions...else darkness and decay with control of every aspect of our lives under the boot of such Rothschild minions such as Bilderberg’s van Rompuy and the Fed’s Bernanke will be our eternal fate.

IMHO AnAnonymouse, it’s past time to rip off their disguises, identify and prosecute. As for you, you must decide.

Mon, 03/05/2012 - 15:14 | 2224803 AnAnonymous
AnAnonymous's picture

Made me laugh.

US citizens do dance a masquerade.

I dont.

So please apply your piece of advice to yourself, rip off the disguise, cut down on the propaganda, accept your US citizen nature.

It will be better for all as all your cheap propaganda to cover what you are, has turned totally useless and do not even fool yourself.

Ah, no, sorry, you cant, US citizens have launched a race to deplete the world of resources, so every little bit helps. And no matter how cheap US propaganda is, it still leads to consumption of resources.

Mon, 03/05/2012 - 15:44 | 2224993 JR
JR's picture

Sir, I think you mistake who I am. I did not eat your stuff. Look to the hand that feeds, or doesn’t feed you, for whom you voted.

Mon, 03/05/2012 - 16:54 | 2225491 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 16:53 | 2225487 WTFx10
WTFx10's picture

STFU

Mon, 03/05/2012 - 13:24 | 2224312 SmoothCoolSmoke
SmoothCoolSmoke's picture

Sad thruth is, the Banksters are going to come out of this smelling like a rose.  UNLESS.... we kill them.

Too harsh you say?   Tell me I'm wrong.

Mon, 03/05/2012 - 13:36 | 2224354 Little John
Little John's picture

.308 for the federal gun thugs and rope for the bankers

Mon, 03/05/2012 - 13:41 | 2224369 Hugo Chavez
Hugo Chavez's picture

Hugo likes that idea. Common ground here?

Mon, 03/05/2012 - 14:34 | 2224580 moondog
moondog's picture

The big fish are at the BIS in Switzerland. Are you going to enlist the Swiss?

Mon, 03/05/2012 - 13:26 | 2224320 slewie the pi-rat
slewie the pi-rat's picture

as i've been saying since i got here and screaming since last july

it's the debt, stupid!

got popcorn?

 

Mon, 03/05/2012 - 13:26 | 2224322 zerotohero
zerotohero's picture

1984 - Orwell baby.

 

Who controls the past controls the future. Who controls the present controls the past.

Mon, 03/05/2012 - 13:28 | 2224326 LawsofPhysics
LawsofPhysics's picture

"But if the US and other advanced countries “solve” their fiscal problems with taxes and other growth stunting measures, then well-trained professionals and young people from these countries will think about emigrating to countries that don’t have major fiscal problems and won’t try to squeeze them for their last penny."

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Still believe in infinite and exponential growth in a finite world do ya?  Good luck with that.

Mon, 03/05/2012 - 13:52 | 2224426 Hugo Chavez
Hugo Chavez's picture

There is still plenty of potential growth out there.

Why do you think the limit is now, versus 100 or 1000 years from now?

Mon, 03/05/2012 - 14:26 | 2224551 LawsofPhysics
LawsofPhysics's picture

growth in wha? be specific.  Moreover, when it comes to energy you better know exactly what the energy and capital investment will be upfront before you see any return.  With respect to oil, why do I think it is now?  Easy, the energetic return on a barrel of oil invested is now less than three barrels of oil in terms of the return.  If you understand exponential equations, this ratio is at a turning point on an exponential curve.  Shit, even in the 70's and 80's the energetic yeild on that investment was still 20-30 barrels and before the world wars it was several hundred.

When capital can be created out of thin fucking air, all you should worry about is the energetic cost in BTUs or calories etc.  Just like any investment, if there is no return on the investment, you are screwed.  Add to that an exponential increase in people living in an oil based economy.  Oil is used for many things beyond driving a bloody car.

 

Mon, 03/05/2012 - 14:49 | 2224661 centerline
centerline's picture

I think it is a reasonable question.  And one that must have a mathematical answer.  Just that getting to that answer would probably be as difficult as coming up a working unified field theory.

I think the limit has less to right now with resources as it does social complexity.  Or should I say a combination of technology and social complexity with a side order of local resource contraints!  We are in essence creating our own limits long before the theoretical resource limits are reached at a given point in time.

The problem is we can't expect human nature to change quick enough to deal with it.  An even more difficult question is "would we?"  Seems that to reach these sort of physical limits without blowing ourselves up beforehand, we give up our individuality.

Two steps forward and one step back I think is what our course looks like.  Hopefully the step back won't be huge.  And hopefully in the sloshing around the scientific ball is not dropped.  At some point though, we will press up against greater constraints.  Hopefully by then we have a means of getting off this planet.

 

Mon, 03/05/2012 - 13:32 | 2224342 kito
kito's picture

In the case of food, biotechnology will feed the world. Serious studies don’t find the Franken food scares to be valid. 

this author apparently feels monsanto is the future of the world....fuck that...

Mon, 03/05/2012 - 13:39 | 2224364 explodinghead
explodinghead's picture

Yeah all those serious studies paid for by Monsanto

http://www.seedsofdeception.com/Public/MediaCenter/Videos/index.cfm

Mon, 03/05/2012 - 14:51 | 2224673 viahj
viahj's picture

will you be able to grow your own food or have to buy theirs?  better line up at the FEMA kitchen to get your daily gruel.

Mon, 03/05/2012 - 13:38 | 2224362 forward ho
forward ho's picture

OH, happy happy joy joy. All is just peachy, so jump into equities with both feet and all available capital. my God what a load of crap. Is this a whitehouse approved press release? P.S. it is not racist to quote facts. takers take because they think they (deserve) their freebies. weather deserved or not.

Mon, 03/05/2012 - 13:42 | 2224372 realtick
realtick's picture

What, Ben Worry?

http://chart.ly/6vhh699

 

Mon, 03/05/2012 - 13:44 | 2224381 asteroids
asteroids's picture

What planet does this guy live on. There are over 43 million people on food stamps in the US. Where it not for that, there would be riots and blood in the streets.

Mon, 03/05/2012 - 13:56 | 2224442 Hugo Chavez
Hugo Chavez's picture

Yeah the mistake was allowing people an easy way out rather than having them figure it out for themselves. Necessity is the mother of invention.

If it takes riots and collapse to bring us back to a virtuous, self reliant culture, then it is worth it to me.

Mon, 03/05/2012 - 13:44 | 2224385 forward ho
forward ho's picture

Ben there, printed that.

Mon, 03/05/2012 - 13:50 | 2224410 RSloane
RSloane's picture

I have NOT enjoyed the central bank party at all and will be quite pleased when it ends.

Mon, 03/05/2012 - 13:50 | 2224411 rupeshpatel
rupeshpatel's picture

how can i enjoy the party while it lasts tyler? i got short in  S I Z E using illiquid derivatives a couple of months ago and now am well and truly stuffed.

if the market doesnt sell off in the next month i am finished. this is partly your fault btw for telling me a crash was coming with greece etc etc .. oh dear.

rups.

Mon, 03/05/2012 - 13:52 | 2224425 AnAnonymous
AnAnonymous's picture

Article full of US citizen cheap propaganda.

Like the majority voting themselves their entitlements.

An observation resulting from the math running crowd that considers without blinking, that in a country like the US, where 4 out of 10 of the electorate actually cast a vote, calling the winning side a majority is enough to make it a majority.

Democracy leading to bankrupcy? No, expanding societies leading to bankrupcy. Spain in the 16th was a democracy?

What is happening now is just a repeat of what led to the GD, save this time on a global scale, so it will take longer to mature.

The GD was the result of the US citizen bid there will always be more Indian lands to transfer. When the mana ran out, well...

Technology solving issues and being like evolution?

Evolution does not solve issues. There is no issue for evolution. Evolution has no purpose, technology has to answer to demands.

US citizens are so cushioned by their state they are totally disconnected from reality and keep kick the can of the negative consequences onto others.

Mon, 03/05/2012 - 13:53 | 2224428 eddiebe
eddiebe's picture

Great article with a lot of good hints. Without wanting to take away from the well taken points made, I have to take issue with a couple though, and they are biggies.

One:  The author states:" In the energy area fracking and horizontal drilling have opened a bonanza in terms of natural gas and oil. If only the US and China would stop wasting money on so-called green energy boondoggles like solar and wind and ethanol in the case of the US."                                                                                                                                  

  My take on this is we had better get moving on alternatives now, while the carbon based energy sources are still relatively abundant, before we'll be forced to walk to work to dig through the garbage heaps of yesteryear for scraps of steel. This doesnt even include the issue of 'climate change', real or not. Same goes for food and the debate of wether scarcity looms or not. Sure we can produce and consume green algae and yeasts grown on sewage dumps, but I would rather we start taking care to quit overfishing the oceans and depleting our topsoils. In other words start minding what we are doing now with an eye on the future, not just working for immediate yield and gratification. Appearently the author has no such concerns, which is shortsighted at best.

Two: The author in the same paragraph states: " And again in the case of the US, get rid of arbitrary environmental obstacles. And let the market made the investment decisions!"

Sorry, Peter, but this is exactly where 'we the people' need a powerful regulatory voice to keep corporate from totally trashing our environment like they did before limits were imposed. Same could be said the disastrous results for the american people when government regulations were lifted as in Glass-Stegal. There is a place for government to keep a check on too big before it gets too big to fail.Even, as I might add the government needs checks before it gets too big to fail, which function has been stolen from us in 1913. 

Mon, 03/05/2012 - 13:55 | 2224436 r00t61
r00t61's picture

"Patriotism is the virtue of the vicious."

Oscar Wilde

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