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Project Armageddon: Tullett Prebon "Thinks The Unthinkable"

Tyler Durden's picture




 

When noted English financial firm Tullett Prebon releases a report titled "Thinking the Unthinkable", which just happens to be the last part of its Project Armageddon series, you know it will be good. While the report is UK-centric, and focuses primarily on the particulars of the English economy (thus making it required reading for our British-Isle based readers), the overarching observations are more than applicable in any place that has too much debt, too little cash flows, and not enough growth. So basically every "developed world" country. From the executive summary:"Project Armageddon was established to examine the possibility that both sides’ warnings are correct but that neither side’s prescriptions will work. We conclude that Britain’s debts are unsupportable without sustained economic growth, and that the economy, as currently configured, is aligned against growth. Radical solutions are required if a debt disaster is to be averted. All macroeconomic options have been tried, and have failed. The only remaining options lie in the field of supply-side reform. Unfortunately, public opinion may be inimical to the scale of reform that is required." Bingo: this is precisely the same big picture summary of what ails the US right about now. We eagerly await for someone to undertake the creation of Project Armageddon for the US: we are confident it will not be that much different.

Project Armageddon - The Final Report

 

 

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Wed, 08/24/2011 - 14:28 | 1596054 trav7777
trav7777's picture

Britain is screwed...bitchez

Wed, 08/24/2011 - 14:30 | 1596064 spiral_eyes
spiral_eyes's picture

"expand the fiscal picture with a new war and everything gets better! world war 2 got us out!"

- krugman

david cameron, barack the kenyan (i mean keynesian), rick perry, sarah palin all nod. they like krugman.

http://azizonomics.com/2011/08/24/the-problem-with-military-keynesianism/ 

Wed, 08/24/2011 - 14:33 | 1596073 Bicycle Repairman
Bicycle Repairman's picture

Winning WWII got the US out of depression.  Britain was not so lucky.

Wed, 08/24/2011 - 14:55 | 1596169 Bicycle Repairman
Bicycle Repairman's picture

I guess we have some Keynesians in the house.

Wed, 08/24/2011 - 15:03 | 1596183 hedgeless_horseman
hedgeless_horseman's picture

 

 

 

Sink the Lusitania!

--From England’s point of view, the handwriting on the wall was clear. Unless the United States could be brought into the war as her ally, she soon would have to sue for peace. The challenge was how to push the (American Public) off their position of stubborn neutrality. How that was accomplished is one of the more controversial aspects of the war. It is inconceivable to many that English leaders might have deliberately plotted the destruction of one of their own vessels with American citizens aboard as a means of drawing the United States into the war as an ally. –Let’s take a closer look at this conspiracy theory. Winston Churchill, who was First Lord of the Admiralty at that time, said:

 

“There are many kinds of maneuvers in war…maneuvers in time, in diplomacy, in mechanics, in psychology; all of which are removed from the battlefield, but react often decisively upon it…The maneuver which brings an ally into the field is as serviceable as that which wins a great battle.”

 

http://joeplummer.com/the_lusitania.html

Wed, 08/24/2011 - 15:03 | 1596197 BaBaBouy
BaBaBouy's picture

.

Basically the whole western economic structure is screwed ...

Whatever they have concocted, its NOT WORKING.

 

Billionaires are pulling in more billions, thats about the whole story.

It cannot continue, and they are not changing course either,

so it will be a disastrous ending...

Wed, 08/24/2011 - 16:24 | 1596419 Dr. Richard Head
Dr. Richard Head's picture

Also, the US stated that the ship was only carrying passengers and was not supplying England's war effort.  Turns out the ship was indeed suppling England with ammunition as a diver recently found out - http://www.archaeology.org/0901/trenches/lusitania.html

Simliarly, High School history teachers around the US teach children about the attack on Pearl Harbor as being unprovoked and part of the Japanese imperialistic agenda of taking over the world one country at a time.  Never mind the oil embargo the US placed on Japan at the time.  Let this piece of history be a lesson to all those "Iran sanctions now" crowd.  As Congressman Paul recently noted, we are more likely to go to war with those we place sanctions on.

9/11 conspiracy theories make more sense than the official story, as we now surround Iran on every front.  Couldn't have pulled so many troops around that area without the Muslim terrorist fun.

Wed, 08/24/2011 - 16:30 | 1596470 Oh regional Indian
Oh regional Indian's picture

Thanks Dr. RH. Also, they knew of the Japanese fleet coming in. It was all one massive false-flag event.

Too difficult for most to swallow, that everything they;ve been taught may be wrong. As you will see downstream here, certain sacred cows here on the hedge too.

Vivek

Wed, 08/24/2011 - 16:36 | 1596493 reader2010
reader2010's picture

The Japanese state banking model at the time was a threat to the Anglo-Saxon banking cartel's business model. As the result, Japan had to be put under control.  December 7, 1941 was a deliberate setup for the Japs. Go visit US National Archive, and the truth will shock those sheeple. 

Wed, 08/24/2011 - 16:37 | 1596502 Dr. Richard Head
Dr. Richard Head's picture

The path to truth is a long and winding one.  It took me a year to understand the gold-standard argument, but once it clicked it made sense and still does.  Up until that point I would say, "Ron Paul looks realy good on some issues, but that gold/silver idea is nuts." 

Wed, 08/24/2011 - 15:05 | 1596188 BaBaBouy
BaBaBouy's picture

.

Wed, 08/24/2011 - 15:10 | 1596222 TruthInSunshine
TruthInSunshine's picture

 

 

I am writing the U.S. counterpart analysis to this report, to be titled:

'Project Mayhem:   When CONfidence Runs Out'

 

It's part of my Break On Through to the Other Side series.

Wed, 08/24/2011 - 16:02 | 1596394 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

Dude, as long as we don't run out of Soylent Green we'll be fine.

 

When that happens we're fucked.

 

http://www.youtube.com/watch?v=ABBQw6Ffbb8

Wed, 08/24/2011 - 19:01 | 1597110 BigDuke6
BigDuke6's picture

iif u don't mind... your call sign there - where is it from?  i just played someone in a fantasy football league game with the same handle... 

Wed, 08/24/2011 - 19:08 | 1597140 A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

An episode of South Park. The Avatar is from Northrop's Skunk Works.

 

Also, I'm a Cancer. Turn ons: puppies and sunsets. Turn offs: racism (not really but we all gotta say that).

Wed, 08/24/2011 - 20:40 | 1597543 BigDuke6
BigDuke6's picture

aha , nice.

yes racism.  i've never had problems with colour but i am a scummist.

i don't like scumbags of any colour

Wed, 08/24/2011 - 15:36 | 1596309 LawsofPhysics
LawsofPhysics's picture

Don't worry.  If you have a good bike, look how much fun the post-industrial world will become,

http://www.youtube.com/watch?v=ShbC5yVqOdI


Wed, 08/24/2011 - 23:48 | 1598048 MisterMousePotato
MisterMousePotato's picture

Everyone should watch the above video. Off topic, but simply jaw dropping!

Wonder what an orthopedic surgeon would say about it?

Wed, 08/24/2011 - 15:02 | 1596189 Oh regional Indian
Oh regional Indian's picture

Well BR, I would change that to "Participating in" WWII got the US out of the depression. The US did NOT win WWII. Germany or more specifically the Nazi's did.

Vivek

http://aadivaahan.wordpress.com/2011/08/24/precursor-03-bottom-falling-out-still-still-and-a-gander/#comment-3020

 

Wed, 08/24/2011 - 15:23 | 1596274 Vergeltung
Vergeltung's picture

an uncommonly stupid statement. nice work.

 

Wed, 08/24/2011 - 15:37 | 1596313 LawsofPhysics
LawsofPhysics's picture

Depends on whether or not The germans get all the gold in Europe as collateral for terms of a bailout that is impossible for all the other countries to repay.

 

Winning!?!?!?!

Wed, 08/24/2011 - 15:52 | 1596350 tip e. canoe
tip e. canoe's picture

and if so, whether the Germans will kindly look the other way if the gold held 'in custody' under the NY Fed suddenly goes "POOF!"

WTF?

Wed, 08/24/2011 - 15:59 | 1596384 Oh regional Indian
Oh regional Indian's picture

And what do you know Tip, but the basement of the FRBNY is foreign territory. German Territory?

It is in the minutes of an FOMC meeting, Greenspan asked the question, some one fromt he board answered and it was checked and re-checked amongst them. I even wrote to the Tyler's abou tit then.

it's not that the US holds German gold, Germany holds german gold on US soil.

Vivek

Wed, 08/24/2011 - 16:07 | 1596421 Oh regional Indian
Oh regional Indian's picture

And by the way, all you junking and sarcastic bozos are thinking like the serfs you are. There is the PR aspect and there is the negotiated aspect of any "victory". All wars have negotiated endings.

And serfs have no clue what is negotiated. And all of you are showing knee-jerk reactionism of serfs. Cognitive dissonance over-whelm.

Think big guys, don't be docile believers in the myth of battlefield heroism (Jessica Lynch anyone) or the Iwo Jima can-do-istic, jingo-istic mind-control. 

Next you will say Churchill was a great leader.

Bah!

Vivek

Wed, 08/24/2011 - 16:24 | 1596451 uranian
uranian's picture

link?

Wed, 08/24/2011 - 16:42 | 1596509 Oh regional Indian
Oh regional Indian's picture

This is all I have if it, the mail I sent them, march 26th 2010, 

 

A trippy tip from India Friday, March 26, 2010 9:52 PM From: http://mail.yimg.com/a/i/us/pim/pimstrip_24.png); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; text-align: left; float: left; width: 20px; height: 19px; display: block; zoom: 1; background-position: 0px -563px; background-repeat: no-repeat no-repeat;" title="View contact details" href="http://us.lrd.yahoo.com/_ylc=X3oDMTBtcDcxYXVrBF9TAzM5ODMwMTAyNwRhYwN2aWV...">View contact details To: tips@zerohedge.com

 

Greetings from Bangalore,

Long-time unregistered reader here. 
Was reading your FOMC minutes article last week (Dennis someone or the other's analysis of them) and something struck me as really odd. 
Did Greenspan actually say that the basement of the FED or NY FED is foreign land? I sure as heaven read that. 
As you all like to say, WTF? 
Is that common knowledge and am I missing something? Are all FED basements foreign territories? Will that help them at some point when the proverbial poo hits rotating ceiling machine? What contorted legal privileges does that gives the FED/FEDS in case of some trumped up emergency?
Is it German territory perchance?
A simple (HA!) FOI request should sort this one out. Or again, maybe common knowledge. But think for a moment of how twisted legal eagles (especially them that wrote most of the laws anyways) could use that to their benefit.
Spent many years in the USof A (yes, I was part of the brain drain from India, now re-drained back here once the curtain was pulled from before me disbelieving eyes post 9/11 and all that has ensued).
Regards,
Vivek
PS: Anyone reading those minutes should be struck by how dumb/childish these guys sound. And yet they are brilliant too, clearly. Or were at any rate. 
Wed, 08/24/2011 - 16:27 | 1596459 tip e. canoe
tip e. canoe's picture

personally, i think it's silly for anyone to get all riled up about anybody holding anything within U.S. borders considering the preponderance of US military bases all over the map.   but then again, i think it's silly to spend any amount of time and energy arguing over arbitrary lines on a map in the first place.  

the world is whose oyster?

Thu, 08/25/2011 - 04:26 | 1598417 destiny
destiny's picture

rothschild's

Wed, 08/24/2011 - 15:54 | 1596358 Oh regional Indian
Oh regional Indian's picture

Brilliant operation twist there LOP. 

Vivek

Wed, 08/24/2011 - 15:41 | 1596322 Oh regional Indian
Oh regional Indian's picture

Get a grip and study your history through the eyes of your present, Vergeltung. Nice sounding handle by the way, it kind of rolls off the tung, if you know what I mean.

Anyways, Just google operation paperclip.

simple, one search and go in with an open mind. The look at CIA, NASA, NSA, FBI and their origins. Oh and while you are at it, ponder the preponderance of germanic whites and Jews in specific, mineral rich or otherwise "riches" laden belts/countries in South and Latin America.

Good luck.

Saem for the twaddle below. Do your home-work, Sleepwalkers.

Vivek

Wed, 08/24/2011 - 15:31 | 1596294 mick
mick's picture

twat

Wed, 08/24/2011 - 15:44 | 1596333 smore
smore's picture

I finally "flipped the bozo bit" on you, Regional.  Beyond stupid.  Useless.

Wed, 08/24/2011 - 16:12 | 1596435 Oh regional Indian
Oh regional Indian's picture

Seriously smore....haaaaaaaahhhhhhha! just look at your avaatar.... too funny. Please, please don't pay me any attention. Look at where your mind is, trying to draw attention with a strip-tease. 

Good grief!

Vivek

Wed, 08/24/2011 - 20:50 | 1597592 zippy_uk
zippy_uk's picture

History of WWII:-

1. Started by the Germans

2. Fought by the Russians

3. Lost by us Brits

4. Won by the US

** UPDATE **

US cash left over from winning WWII has now all be spent.. and then some..

Wed, 08/24/2011 - 14:34 | 1596075 SheepDog-One
SheepDog-One's picture

Actually Krugman is wrong, WW2 never ended, in fact going back to the Revolutionary War we've all just been in a constant state of ongoing war.

Wed, 08/24/2011 - 14:35 | 1596079 john39
john39's picture

Orwell bitchez?

Wed, 08/24/2011 - 15:42 | 1596328 Spastica Rex
Spastica Rex's picture

Eastasia, bitchez. Or is it Eurasia?

Wed, 08/24/2011 - 15:10 | 1596221 smore
smore's picture

The scales are falling from your eyes, Sheepdog.  The Empire Never Ended!

http://www.scribd.com/doc/3230/Robert-Crumb-The-Religious-Experience-of-...

Wed, 08/24/2011 - 15:11 | 1596226 High Plains Drifter
High Plains Drifter's picture

it would appear so....

 

so then the question is. why?

Wed, 08/24/2011 - 15:53 | 1596354 RockyRacoon
RockyRacoon's picture

Interesting.  Has anyone treated war like an equity and do some TA on the process over the last 200 years?   Are we in a topping pattern?  Head  and  shoulders?  Throw in Bollinger Bands and stuff to make it look neat!  Better analysts than I will have to tackle that one.

Wed, 08/24/2011 - 14:44 | 1596121 Steroid
Steroid's picture

@Sheepdog,

 

WWII has not started yet. What you refer to was the second flare up of WWI.

Wed, 08/24/2011 - 15:04 | 1596200 Surly Bear
Surly Bear's picture

I believe I see his point: WWI was setup by the Concert of Europe (1815), and can be summarized by the words 'Keeping the lid on liberty.' I am sure I betray my Jesuit education by triposing everything into economic, political, and social terms....

Wed, 08/24/2011 - 14:55 | 1596168 Shameful
Shameful's picture

Yeah it's amazing what having the only intact industrial base on the planet will do for exports.  Only way a WW3 could "save" America is if the US was able to use a global decapitation strike and then destroy most of the the production centers for most major goods in the world.  With our string of stunning victories in the past decade I doubt such an operation could be pulled off.  Besides all that would happen even if it did was a rush of capital out of US to rebuild and use the newly reduced wages of newly destroyed world to compete.

On the plus side a WW3 would ensure a brutal currency collapse when price and wage controls fell away, further rewarding those who see the collapse coming.  Maybe even get lucky and the troops would be away fighting and not able to suppress the locals here, got to stay hopeful right?

Wed, 08/24/2011 - 14:58 | 1596179 Bicycle Repairman
Bicycle Repairman's picture

"Only way a WW3 could "save" America is if the US was able to use a global decapitation strike and then destroy most of the the production centers for most major goods in the world."

Yes, and I guess that means China.  Ugh.

Wed, 08/24/2011 - 15:08 | 1596215 Shameful
Shameful's picture

Yes, but also Japan and Germany as other major points of interest.  If anyone thinks the US is capable of going toe to toe with the planet right now, and coming though unscathed is either insane or knows of some kind of super weapon that we serfs have no idea about.  Plus I kinda got to assume if the US did try a major preemptive strike to disable global leadership that at least a few countries would see it coming and using nuclear retaliation, which would of course harm the war fighting capability as well as the post war recovery.

War is not the answer.  Indeed if I had to lay out bets in a major war situation I would expect the US to lose because of the epic bloat in the logistical support structure (Hello no bid contracts!).  We would simply be unable to fight a large scale conflict with the system that is in place.

Wed, 08/24/2011 - 15:20 | 1596260 Smiddywesson
Smiddywesson's picture

EMPs are super weapons.  One bomb in the upper atmosphere, and whole continents go dark, for decades.  Instant rioting and starvation.

Wed, 08/24/2011 - 17:33 | 1596796 Mitzibitzi
Mitzibitzi's picture

Right, let's just settle that issue right here. An EMP strike will, I grant you, take out all consumer electronics within it's area of effect. But it will not cause what you're suggesting. Military, Police and Govt shit is mostly shielded against EMP.A lot of medical stuff is, too.

And I know at LEAST 100 electronic engineers in my 'aquaintance group' (including myself) that have, literally, millions of transistors, diodes and other semiconductors stored in bog standard basic steel filing cabinets - totally EMP proof if you happen to know the laws of physics!. Not to mention the vacuum tubes that we've been storing for years - a slight aside, here, for those that don't know.. there are some tubes that can replace literally hundreds of transitors in what they can do. They're HUGELY energy inefficient, but they will work if it comes to that.

We engineers, at least in the UK and significant parts of the US, have known for years that the PTB are sooner or later gonna try to fuck us. And we've stitched up the aperture.

Wed, 08/24/2011 - 17:44 | 1596841 tip e. canoe
tip e. canoe's picture

you talkin about a Faraday cage mitzi?

Wed, 08/24/2011 - 21:11 | 1597666 o2sd
o2sd's picture

Wouldn't an EMP induce a spike in the power lines (grid)? i.e. magnetic field passing through a wire? If the bulk of the grid went, then there would be very few people with mains power. Pretty sure that any photovoltaics would be fucked as well.

I'm going to assume that the Military, Police and Govt buildings all have diesel generators and plenty of diesel.

 

Wed, 08/24/2011 - 16:02 | 1596397 SilverRhino
SilverRhino's picture

If anyone thinks the US is capable of going toe to toe with the planet right now, and coming though unscathed is either insane or knows of some kind of super weapon that we serfs have no idea about. 

The US most certainly can.  No I am not insane.  Nor will I elaborate.

Wed, 08/24/2011 - 15:11 | 1596225 reader2010
reader2010's picture

Long defense stocks. Let killings begin.

Wed, 08/24/2011 - 15:12 | 1596230 Toma Haja
Toma Haja's picture

Lest we forget, there was the Marshall Plan for Europe and enormous investment by U.S. in Japan, Korea, Taiwan and Philippines.  Also, the U.S. had to totally retool after the war.   It does not help to have production capacity without markets.  Now, we have tremendous domestic markets, but a hollow shell of our former industrial base.  What happened? 

Wed, 08/24/2011 - 15:22 | 1596270 karzai_luver
karzai_luver's picture

Marshal plan for Euorpe...hahaha

 

It does not HELP to have outstanding loans with no "economy" left to pay them back.

 

They were farmed for bankster tables.

 

It continues to this day...

Wed, 08/24/2011 - 16:41 | 1596506 Reptil
Reptil's picture

There you go. Any "solution" is pointless unless there's accountabillity. The economy's not ruined because it had nowhere to go. It has been ruined because innovation and competition has been kept out the door, since it interfered with the ruling classes' business interests. I'm talking REAL innovation, which was on the table in the late sixties, and again in the eightties. That has been stonewalled and against better knowledge the present oil-finances (that ended with the housing boom) was milked until.... right now.
.
And yes the UK is fucked, it did not provide for a replacement of oil riches, instead relied on the added wealth generated by the City. Which those in control still do not want to give up, at the expense of their source of wealth, the UK itself.

The remind me of some 15th century nobillity, caught in the same mind trap; unwilling to recognise the wind already has changed. Of course there's a way out, there always is. It does require some out of the box thinking, and bravery to admit mistakes.

Wed, 08/24/2011 - 21:38 | 1597767 o2sd
o2sd's picture

It has been ruined because innovation and competition has been kept out the door, since it interfered with the ruling classes' business interests.

Because capitalism seeks to preserve and extend capital, and innovation and competition (free markets) threaten those goals.

When free markets succeed, capitalists lose, hence the destruction of free markets by capitalists. Those capitalists should be named, and their families exiled, so the restoration of free markets can begin.


Wed, 08/24/2011 - 15:25 | 1596279 smore
smore's picture

The "final report of project armageddon"? 

Anyone who doesn't understand that WW3 will involve bioweapons that threaten human survival just as much as nukes hasn't been paying attention.  WW3 will be the END.  Forget currency collapse, it will be the collapse of human existence on this planet, except perhaps for a very few who have the necessary antidotes.  I say let's rise up now and start burning government buildings down before they can get this plan going!

 

 

Wed, 08/24/2011 - 14:31 | 1596065 SheepDog-One
SheepDog-One's picture

And Britain is the US.

Wed, 08/24/2011 - 14:42 | 1596114 ping
ping's picture

Don't underestimate the power of our bad dentalwork, bitchez. Or manly David Cameron. Right now, he's working on a plan for - a plan for - hey, is that a bunch of bedsheets tied together, dangling out the back window of 10 Downing Street? Good god.

Ok, shit, you got me, we're screwed. Look at that bastard go. Fast for a chubby Eton boy. 

Wed, 08/24/2011 - 15:11 | 1596224 Byte Me
Byte Me's picture

Fast for a chubby Eton boy. 

Ping,

Someone must have shouted "Faaaag!!"

Wed, 08/24/2011 - 14:38 | 1596100 Silver Bug
Silver Bug's picture

Britian just like the rest of the World is tied to a horribly flawed fiat currency system. Luckily (or unluckily) for them, unlike greece, italy, spain, list goes on... they can print money over their flaws. But only for the short term. The Emperor has no clothes and this is finally starting to be realized Worldwide. We "will" be returning one way or another to some form of hard based money, whether they want to or not. Hope your buying your share of the dip.

 

http://silverliberationarmy.blogspot.com/

Wed, 08/24/2011 - 14:52 | 1596159 Long-John-Silver
Long-John-Silver's picture

Hugo Chavez is the first leader of a nation that has figured that out.

Gold is the worlds reserve currency and some will be dragged kicking and screaming to it.

Wed, 08/24/2011 - 14:57 | 1596177 Calmyourself
Calmyourself's picture

Figured out, no..  Lucky guess, yes.  He is imposing statewide price controls of course he call it "fair pricing" hyperinflation here we come..

Wed, 08/24/2011 - 15:29 | 1596289 NotApplicable
NotApplicable's picture

More like, doing what he's been told.

Wed, 08/24/2011 - 14:57 | 1596178 Ahmeexnal
Ahmeexnal's picture

Q-daffy knew it too.

Wed, 08/24/2011 - 15:40 | 1596314 slewie the pi-rat
slewie the pi-rat's picture

@shiforbrained_silver_booger:

hey, TROLL!  i put this up about swami salami's incessant advertising and self-referencing on ZH, but FUK YOU, TOO!

(paste) i prefer to sweep with anti-SPYWARE software which has a Perform Custom Scan: Cookies option that takes about 3 seconds, maybe 10 if the spyware had been botted in by somebody we trust, like ORI, for example, for those of you who think "visiting" his site must me harmless b/c he's, like, a real spiritual person...

if the swami of self-propagananda-Vi-whatever his name is, today, hasn't already turned off the bot downloader after slewie's first "asswipe-advisory" post, earlier, b/c hundredz of his "peeps" saw it here and e-mailed it to him, immediately, of couse...

slewie's first rule for dealing w/ trolls:  if you are styoooopid enuf to visit any site the trolls self-advertize on these strings, do not "register" with your real e-mail, and wipe your ass with an anti-spyware cookie scan 3-4 times while there and afterward, of course, before you wash your hands and, possibly, vomit projectiles, too...TPTB which pull his strings and also contol his site, remotely, (from shangri-lala land, of course) may refuse to pay him for the "hit", but that's his problem, not yours

but, it's FUN to click-click-click and make new "friends" isn't it?

Wed, 08/24/2011 - 14:50 | 1596150 Michael
Michael's picture

You can't have job growth in the US with NAFTA, CAFTA, and GATT/WTO thanks to Bill Clinton and George Bush.

Wed, 08/24/2011 - 16:08 | 1596427 Taku
Taku's picture

Triple AAA is screwed

Wed, 08/24/2011 - 14:33 | 1596055 Pladizow
Pladizow's picture

Which will come first, Project Armageddon or Project Mayhem?

Wed, 08/24/2011 - 14:50 | 1596148 fyrebird
fyrebird's picture

Each announces the other.

Wed, 08/24/2011 - 14:59 | 1596181 Aguadulce
Aguadulce's picture
  1. You don't ask questions.
  2. You don't ask questions.
  3. No excuses.
  4. No lies.
  5. You have to trust Tyler.
Wed, 08/24/2011 - 15:02 | 1596191 Oh regional Indian
Oh regional Indian's picture

How about Project ArmIGeddingSum?

Vivek

Wed, 08/24/2011 - 14:28 | 1596056 Live_Free
Live_Free's picture

Armageddon Bitchez!

Wed, 08/24/2011 - 14:32 | 1596062 tawdzilla
tawdzilla's picture

 

 

"examine the possibility that both sides’ warnings are correct but that neither side’s prescriptions will work" 

Brilliant.

Wed, 08/24/2011 - 14:32 | 1596072 trav7777
trav7777's picture

the UK's hail mary was importing a ton of 3rd worlders who they hoped would be their next-stage on the pyramid of growth and instead those people just sucked the fucking State dry and have tried to impose sharia and shit everywhere they've gone, trying to take the UK to the state of the shithole they came from.

And you've got blacks rioting and burning and looting because the cops shot a gangbanger or because black youth are being frisked frequently (black youth commit nearly 100% of their crime where they comprise even a sizable minority).  Juxtapose this with a pussy YT guilt population that has decided to commit suicide and you have a recipe for FUKD.

Children of Men...won't be Britain soldiering on...

Wed, 08/24/2011 - 14:38 | 1596095 Bicycle Repairman
Bicycle Repairman's picture

Feel free to blame blacks and browns, but England was doomed in any case.  Once the empire was gone, what did they have?  Are you telling me that white Englanders can compare with, say, the Germans?  All the English with any life force left for the USA.  The place has been run by toffee noses for over 150 years.

Wed, 08/24/2011 - 14:52 | 1596130 Pladizow
Pladizow's picture

Take it easy travKKK.

Wed, 08/24/2011 - 15:12 | 1596228 Things that go bump
Things that go bump's picture

On what qualities then do they base those delusions of superiority?  

Wed, 08/24/2011 - 15:24 | 1596275 CosmicBuddha
CosmicBuddha's picture

"Are you telling me that white Englanders can compare with, say, the Germans?"

 

We kicked their arses in two world wars! And don't say it was all down to America; where were you when we fought the Battle of Britain. It was the invention of the cavity magnetron (more powerful radar), by the way which we gave to the US for nothing, and the spitfire that beat the Luftwaffe. Germans are great at engineering but they haven't the creative flair and inventiveness of the British. Anyway we are all friends now. I agree about the toffee nose bit though.

Wed, 08/24/2011 - 15:47 | 1596340 trav7777
trav7777's picture

Bletchley Park anyone?

Wed, 08/24/2011 - 15:57 | 1596380 CosmicBuddha
CosmicBuddha's picture

Good point! Alan Turing & Tommy Flowers - inventors of the first electronic programmable computer. No IBM, Microsoft, Google or Facebook without these guys.

Wed, 08/24/2011 - 22:39 | 1597944 Bicycle Repairman
Bicycle Repairman's picture

"We kicked their arses in two world wars! And don't say it was all down to America; where were you when we fought the Battle of Britain."

LOLOLOLOLOLOLOLOLOLOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

World war I?  England was beaten, then the USA entered and saved old blighty.

WWII?  I know you think I'm a stupid yank who doesn't know where the Soviet Union is, but I do.  Battle of Britain versus the battle for Kursk.  Not even close.

"Germans are great at engineering but they haven't the creative flair and inventiveness of the British."

I drive a Mini.  One of the modern ones.  Designed and manufactured in Deutschland by BMW.  The engine is assembled in Brazil.  The British are allowed to assemble the other parts into a final product.

Sorry matey, but the empire died after 1914.

Wed, 08/24/2011 - 22:59 | 1598001 BigDuke6
BigDuke6's picture

You drive a mini.... ffs. 

Why? ru gay?  its ok if you are but just get a VW beetle and stop pretending you're a tough gay.

Thu, 08/25/2011 - 05:15 | 1598446 CosmicBuddha
CosmicBuddha's picture

LOL

Fri, 08/26/2011 - 23:55 | 1606688 Bicycle Repairman
Bicycle Repairman's picture

I also drive a pickup truck, and I don't have to reference John Wayne or Robert Duval to convince people I'm a tough guy.

Thu, 08/25/2011 - 05:11 | 1598443 CosmicBuddha
CosmicBuddha's picture

"Sorry matey, but the empire died after 1914."

 

That's as may be, but yours is dying right before our eyes. Dragged down by a bunch of thieving kleptocrats who have hijacked the political process, the Treasury and the Federal Reserve.

 

I would say LMFAO, but it is no laughing matter. I used to love America, I still love the American people, but I despise your rotten political and financial system. And before you say ours is no better, I completely agree.

Fri, 08/26/2011 - 23:57 | 1606694 Bicycle Repairman
Bicycle Repairman's picture

Is it dead?  Let me check and see who has how many aircraft carriers roaming the ocean.  The UK has 0, I believe.

Thu, 08/25/2011 - 05:21 | 1598445 CosmicBuddha
CosmicBuddha's picture

Find out what the British have invented and discovered and compare it to what the Germans have invented and discovered. Your point about your mini is a point that I conceded in my post, so I am not sure why you brought it up. There is a big difference between inventing something and making something: one requires creativeness and genius, the other simply self discipline, good organisation and dedication.

Fri, 08/26/2011 - 23:58 | 1606696 Bicycle Repairman
Bicycle Repairman's picture

I know you are joking here.

Thu, 08/25/2011 - 06:39 | 1598452 CosmicBuddha
CosmicBuddha's picture

If we hadn't won the Battle of Britain there would have been no base from which to launch the D-Day landings. Had the Germans only had one front to fight on I suspect they would have beaten the Russians. Therefore, looked at in the round, if we didn't actually win the war alone, we certainly made the winning of it possible alone.

Sat, 08/27/2011 - 00:02 | 1606704 Bicycle Repairman
Bicycle Repairman's picture

The battle of Kursk took place a year before D day.  If the Americans and the British had waited another year, the Soviets would have been on the other side of the channel.

Thu, 08/25/2011 - 09:57 | 1599175 Jonathan E
Jonathan E's picture

The New 'Mini' was designed by Frank Stephenson (Spanish/American/Moroccan).

The re-invention of a British car which was HUGELY successful and initially way ahead of its time hardly constitutes creative or manufacturing excellence.

The UK sold its manufacturing down the river just as the US is doing, well done to Germany for not doing so.

You know fuck all about the UK and the British, don't spout drivel.

Sat, 08/27/2011 - 00:05 | 1606711 Bicycle Repairman
Bicycle Repairman's picture

Modern Britain is a mere shadow of the empire.  Do you guys still even own Jaguar?  Name one car company.  Give it up.  It's over.

Wed, 08/24/2011 - 15:32 | 1596296 President Starkey
President Starkey's picture

The empire was built on blacks and browns mate.  Karma is a bitch.

Wed, 08/24/2011 - 15:48 | 1596341 trav7777
trav7777's picture

no it wasn't.  Blacks and browns have been background scenery

Wed, 08/24/2011 - 23:39 | 1598080 o2sd
o2sd's picture

trav7777, you should really try for a Darwin award this year. Perform some service to humanity.

Wed, 08/24/2011 - 14:48 | 1596134 Dasa Slooofoot
Dasa Slooofoot's picture

Depending on a double digit IQ'd populace to provide growth in a triple digit IQ economy will always end in epic fail. 

Wed, 08/24/2011 - 15:26 | 1596284 karzai_luver
karzai_luver's picture

tell that to Owebama and Kruggles , they may finally understand the problems they have with a large group of imbeciles fit for nothing much.

 

Wed, 08/24/2011 - 17:06 | 1596677 ping
ping's picture

Depending on a double digit IQ'd populace to provide growth in a triple digit IQ economy will always end in epic fail. 

You inspired, beautiful hunk of awesome. I'm writing that down.

Wed, 08/24/2011 - 14:49 | 1596142 Shameful
Shameful's picture

Doubt it was a hail mary pass and more a political play pure and simple.  http://www.dailymail.co.uk/news/article-1222769/Dishonest-Blair-Straw-ac...

 

UK is dead.  A corpse stumbling forward.  That is not to say the West is not in a similar position, but likely the UK will show us all the way to the bottom.

Wed, 08/24/2011 - 15:01 | 1596185 Bicycle Repairman
Bicycle Repairman's picture

Yes.  The importation of blacks and browns was to implement a divide and conquer strategy among the people.  Like that used in the Austro-Hungarian empire, the Soviet Union and well, well, well the USA.

Wed, 08/24/2011 - 15:31 | 1596295 Oh regional Indian
Oh regional Indian's picture

Spot on BR. And wherever the Brits went, they imported themselves. ugh! Their mere existence in India at least, was divide and rule enough. They used money and sex (age old tricks) to warp India into it's current, totally schizophrenic state of statelessness.

Fat hips in Jeans, big mouths blathering on in a tongue whose duplicit origins and machinations are hidden deep and barely understood anymore, the argumantative nation (yes yes, me too)... a centrally planned and demoncrazy-ly run, bureaucratic straight-jacketed, corrupt administration at every level and still controlling our minds and hearts through a totally duplicit media.

Their colonizing fore-fathers were surely a pox beyond compare in recent history.

The empire is dead, may it stay so.

Vivek

Wed, 08/24/2011 - 16:36 | 1596475 tip e. canoe
tip e. canoe's picture

most likely true, nevertheless, India was fucked up well before the Brits arrived and will be so long after as long the Indian people believe that some other race, religion, country or people is the cause of their problems.   just like everywhere else.

Wed, 08/24/2011 - 21:47 | 1597795 BigDuke6
BigDuke6's picture

the brits stopped all the fun , like indians killing their females in the millions.

it was funeral pyres, now its ultrasounds and vacuum pumps.

Wed, 08/24/2011 - 21:13 | 1597669 zippy_uk
zippy_uk's picture

So If I understand correctly, 65 years after we left India the whole place is still a shambles and its still all our fault?

There is nothing like constructing railways or setting up telecommunications links for dividing a nation, or building education establishments for creating an ignorant population.

In fact, while you are at it, lets blame us Brits for India wasting money on building nuclear weapons and a space program (to cover up for building nukes) while many millions of Indians live on less than a dollar a day.

Infact, inspite of a truely effective centrally planned economic miracle inspired by Mr Ghandi, that English language curse has been a real burden when competing for US tech jobs - so you can add that list as well.

Empire is 65 years over, and by law averages most likely well over before you were born. Take some responsibility for the mistakes of your own people and your own leaders

Wed, 08/24/2011 - 15:28 | 1596287 karzai_luver
karzai_luver's picture

wrong , the more top heavy will go first and most suddenly.

 

USA USA USA USA.

 

 

Wed, 08/24/2011 - 17:13 | 1596712 ping
ping's picture

How dare you! Britain leads the world in implosions! We have Pippa Middleton to organise them for us, and she's making cake, so FU!

You think the US is bad-ass? Wait til you see Mad Max acted out by people who dress like doomsday survivors all the time, even if they've only gone out to get some milk.

Rank amateurs, you yanks. No gin, no lager, your superstores refuse entry to people in pyjamas and slippers, and you think petrol is for cars instead of for sniffing. 

Wed, 08/24/2011 - 20:24 | 1597476 prole
prole's picture

You have obviously never been too a "Walmart."
That was a funny post though....

Wed, 08/24/2011 - 15:07 | 1596211 CosmicBuddha
CosmicBuddha's picture

The ton of immigrants was for gerrymandering purposes. They were imported to swell the ranks of those voting labour. Every decent person is completely fucked off with this situation, but we are all too polite to either mention it or do anything about it; apart from voting labour out of course.

Wed, 08/24/2011 - 15:13 | 1596232 accumbens
accumbens's picture

Being black, brown, white or yellow has nothing to do, It is more a money problem. Lots of the rioters in England were whites.

In 1987 Dave Cameron, himself was a rioter in Oxford so was Boris Johnson (London mayor) (It was a kind of a tradition, some the richest students from the Bullington Club in UK smashed a few shops and pubs, the families were paying for all the damages and obviously there were no charges)

 

You can't see the big picture when you so hateful

 

source :Daily Mirror

Wed, 08/24/2011 - 15:30 | 1596292 karzai_luver
karzai_luver's picture

not a money problem , but an ideals problem feed by a massive amount of ignorance and a more massive sense of entiltlement.

 

When a population doesn't give a shit about the yuts and leaves them to the tender mercy of market forces you will breed a feral bunch of wolves.

 

Exactly what you have both in UK and in US,when your god is money and pleasure your children will rise up to hate you.

 

Truth.

Wed, 08/24/2011 - 15:50 | 1596345 trav7777
trav7777's picture

"lots" of rioters?  How about quantifying that?

It's easy to say "lots" of murders were committed in NYC by whites, but 90% of them were still done by blacks and hispanics.

Wed, 08/24/2011 - 16:58 | 1596640 ping
ping's picture

You pretty much nailed it. If you run through UK government statistics for crime - already doctored to look progressive and hippy-dippy - it turns out that more than 50% of the crime is committted by about 12% of the population, all of whom are from abroad, or their parents are. It's not linked to income, and it's not correlated to anything else.

I'm talking about the nasty stuff - the rapes, child prostitution, heroin dealing, muggings and murder. Not the parking tickets and guys getting into a bar fight on their 21st birthday. The violent and serious crime is committed by people from Africa, the Caribbean, Pakistan, and Eastern Europe. (Eastern Europe? What did we do to you guys?!? The others have been practicing their excuses and victimhood, you should have taken years to get up to speed! And you've got all the jobs, anyway!).

Basically, the existing British population got royally butt-hurt by progressive governments whose reponse to racially motivated rapes was 'Eh, it wasn't my daughter'. And I mean that literally, because there's a lot of documentation to show that the police were officially told not to investigate the numerous child prostitution rings where white teenagers were raped by black or asian men. 'Bad for community cohesion'. In inner London, about 80% of the child rapes are commitetd by 'Black and Minority Ethnic'. 80% of the muggings, too.

(Same as the USA, right? I checked the sex offender mugshots you guys put up on the web. Apparently, poverty and horrible white people kinda, sorta, can't-quite-explain-it-yet push black dudes to commit an awful lot of rapes.) 

Nice of the elites to put their marxist theories before people's pain. Sometimes I think they must believe that the working classes are probably immune to stabbing, and think broken windows are cool. Or broken hymens.

No-one has to take my word for it, anyhow, because the government stats are all published online. Anyone can check for themselves. Funny, though, how the progressives never do. Fact based opinions are so 19th Century and racist.

Wed, 08/24/2011 - 19:13 | 1597174 BigDuke6
BigDuke6's picture

Yep the socialist guilt of empire meant they had to import the worst scum in the world to destroy it all forever.

Uneducated perverted tribesmen soon began raping white trash girls while the lefties blamed the girls parents for their lack of supervision.

http://www.dailymail.co.uk/news/article-1332746/Asian-gang-raped-girls-young-12-picking-streets-sex.html

Civil war comes to the uk... sooner than anyone will think.

Wed, 08/24/2011 - 19:32 | 1597263 DosZap
DosZap's picture

trav7777 @ 14:32,

<and instead those people just sucked the fucking State dry and have tried to impose sharia and shit everywhere they've gone, trying to take the UK to the state of the shithole they came from.>

 

France has made the same mistake,Britain screwed themselves(no one to blame BUT the Gub).The people REAL Brit's are the one's screwed.

The US is doing the same thing, except with Hispanics(which is, in any way  ,form, or shape,fashion, a HELL of a much better way ) than allowing the Radical  Muslims to move in, and take over,crying Peace, and then segregating into Sharia Camps.

The Hispanics are typically Cathlolic, God fearing, hard working, family folks,looking for peace and a chance at the American OLD dream, who do not want to BEHEAD your ass if you do not convert to Sharia Islam shit.

They are already a larger ethnic minority in the US than blacks.( the Black problems in this country, are the fault of the US Gubmint, period).

When they complain about the percentages of blacks to other (whites) imprisoned, they need look NO farther than the WELFARE state bitches that destroyed their family unit, for a fistfull of frn's.

This is what happens to ANY ethnic group,and whites, when the Something for nothings outnumber the producers.

Wed, 08/24/2011 - 20:03 | 1597415 Serenity Now
Serenity Now's picture

Trav, what is YT?  You used to say DWL (disingenuous white liberal).  I borrowed that, btw (by the way).  LOL.

Thu, 08/25/2011 - 11:28 | 1599739 trav7777
trav7777's picture

YT?  Sound it out

Wed, 08/24/2011 - 14:31 | 1596066 cdskiller
cdskiller's picture

What kind of supply side reform do they suggest?

Wed, 08/24/2011 - 15:12 | 1596229 CosmicBuddha
CosmicBuddha's picture

I had a quick scan of the report and I think they are suggesting we make deeper public spending cuts. Not particularly "unthinkable". It most certainly did not suggest complete reform of the monetary system, 100% reserve gold backed money in a banking system free from government interference. I guess they just didn't think of it. As we in Britain say: what a bunch of knobs!

Wed, 08/24/2011 - 17:40 | 1596823 Hyper Entropy
Hyper Entropy's picture

I was on the check out line and some welfare collecting underling got $300.00 CASH BACK on her NYS Welfare EBT while only purchasing a bottled water. Maybe the UK can start with eliminating scams like that.

Wed, 08/24/2011 - 14:31 | 1596069 Dr. Acula
Dr. Acula's picture

"All macroeconomic options have been tried, and have failed. The only remaining options lie in the field of supply-side reform"

Why not try freedom?

Wed, 08/24/2011 - 14:34 | 1596076 john39
john39's picture

they have not yet tried hanging all the central bankers.  point in fact.

Wed, 08/24/2011 - 14:36 | 1596086 SheepDog-One
SheepDog-One's picture

Nah cant have that...then the world bankster cabal wouldnt control every aspect of people lives and every cent of their commerce...privatized gains and socialized losses forever, peasants!

Wed, 08/24/2011 - 15:05 | 1596205 Bicycle Repairman
Bicycle Repairman's picture

Yes.  Freedom might not maximize returns.

Wed, 08/24/2011 - 15:01 | 1596186 Calmyourself
Calmyourself's picture

Read the last line of the report...

Wed, 08/24/2011 - 15:25 | 1596280 Dr. Acula
Dr. Acula's picture

>government should create a Consumer Court, empowered to set aside onerous, unreasonable and one-sided contractual terms

i.e. they want more government, not less. How will this crusade against the scourge of "unreasonable and one-sided" contracts be funded? The funds will be obtained by finding people who don't want or need these services and then threatening them with death or imprisonment.

Wed, 08/24/2011 - 15:33 | 1596302 karzai_luver
karzai_luver's picture

those little yuts in UK and US had freedom as the term has been bastardized now days.

Look what it got them.

 

Why not try some repsonsibilty first and then freedom.

Wed, 08/24/2011 - 14:32 | 1596071 SheepDog-One
SheepDog-One's picture

Everyones given up on the 'macroeconomic solutions', no one believes in printing up 'Quantitative Easing' anymore its an obvious total failure that only leads to worse problems. Up against the wall, bitchez.

Wed, 08/24/2011 - 14:35 | 1596081 Dr. Acula
Dr. Acula's picture

Of course it's a failure.

"Credit expansion cannot increase the supply of real goods. It merely brings about a rearrangement. It diverts capital investment away from the course prescribed by the state of economic wealth and market conditions. It causes production to pursue paths which it would not follow unless the economy were to acquire an increase in material goods. As a result, the upswing lacks a solid base. It is not real prosperity. It is illusory prosperity. It did not develop from an increase in economic wealth. Rather, it arose because the credit expansion created the illusion of such an increase. Sooner or later it must become apparent that this economic situation is built on sand." - Ludwig von Mises, 1931

Wed, 08/24/2011 - 14:36 | 1596085 Every Third Word
Every Third Word's picture

forgiving consumer debts is the only way out.

 

Otherwise we are on the path to haves and have nots, serfs and lords.

 

in fact, in many ways, it's already started.

Wed, 08/24/2011 - 14:38 | 1596096 SheepDog-One
SheepDog-One's picture

I said back in the TARP debate days to wipe clean the debt of 'consumers', and prosecute the banksters. Nope, they went the other way...make a small group of special people protected and far wealthier.

Wed, 08/24/2011 - 14:46 | 1596128 Dr. Richard Head
Dr. Richard Head's picture

The TARP vote and OH-D Sen. Brown stating that he received over 2,000 visits, phone calls, and emails a day against TARP and still voted for it anyway (along with now retired OH-R Sen. Voinovich) was my true moment of OH FUCK WE ARE FUCKED.  Up until that point, I donated to my 401K, paid my taxes, had no guns, no extra food supply, no seeds, no water, no PM, and plenty of banker created debt. 

Can we just get on with the reset already?  I have things to do damnit.

Wed, 08/24/2011 - 15:04 | 1596199 Screwball
Screwball's picture

I remember that well.  Senator Brown is in my state and district, and I wrote him often about TARP and the bailouts.  He didn't listen.

To add insult to injury, my wife knows him, campaigned for him, and even walked door to door with him.  He knows her by name.  He came to town to stump for something.  I wanted to go - she wouldn't let me.  I told her I have questions, she asked if I like to eat and get pussy.  I didn't go.  Damn, can't piss off the better half.

I did have a sign in the yard last election - "If your in, your out."  She didn't like that either.  Not easy sometimes.

Wed, 08/24/2011 - 16:11 | 1596432 tip e. canoe
tip e. canoe's picture

there is little talk on how women prop up the system behind the scenes.   in fact, they may be the only ones keeping the whole thing afloat at this point.     always found it wise to never forget that the spouse of Mr. Paternalism is Mrs. Materialism.

Wed, 08/24/2011 - 16:41 | 1596519 fightthepower
fightthepower's picture

You know your wife is banging Senator Brown, don't you?

Wed, 08/24/2011 - 15:17 | 1596247 centerline
centerline's picture

+1 on virtually every item including the moment of recognition.

Debt repudiation is the only viable way out of the immediate mess.  But that wont happen.  It wont require unwinding of the massive black hole of debt that we know exists, but cannot see (e.g. shadow banking system, central bank financials, and so forth).  There is also way too much at stake for nations and thier politicians and elite in going that direction.  Of course, the concept of moral hazard is moot, since the ultimate moral hazard is staying on the current path anyhow.

This is looking more and more like it is going to end in a ugly way.  And getting uglier by the minute.

 

Wed, 08/24/2011 - 15:35 | 1596308 Oh regional Indian
Oh regional Indian's picture

A slippery slope down indeed.

Vivek

Wed, 08/24/2011 - 14:40 | 1596104 Bicycle Repairman
Bicycle Repairman's picture

If the slate were swept clean, the sheep would promptly go back into debt.  Structural reform is needed.

Wed, 08/24/2011 - 15:34 | 1596268 centerline
centerline's picture

Yes.  And there are cycles at play here as well.  It is failure to recognize and move with the cycles that is one of the big problems.  Rather, modern economic theory has us pointed in a direction wherein cycles are attempted to be avoided (pushed into the future forever) by continually inflating bigger and bigger bubbles.  Caters to a play now, pay later mentality built into most humans.  Precisely why the current system design is so evil... it is supported by human dreams, but operates on it's vices.

 

Wed, 08/24/2011 - 15:22 | 1596269 TCA
TCA's picture

All the liquidity injections (Ew!) would have been sufficient to pay off every mortgage in the USA.  Imagine the economic stimulus that move would have provided.

 

But it's not about economic stimulus; it's about control.

Wed, 08/24/2011 - 17:55 | 1596883 Hyper Entropy
Hyper Entropy's picture

You mean like being an indentured servant or slave to Sallie Mae for a huge student loan of about 100k?

Wed, 08/24/2011 - 14:37 | 1596091 Aguadulce
Aguadulce's picture

"The biggest obstacles to recovery are spurious moral absolutism, an unrealistic belief in 'entitlement', and the division of the economy into warring interest groups."

This is going to take an entire generation or more to fix in some european nations.  Not going to be pretty, thats for sure.

Wed, 08/24/2011 - 14:48 | 1596139 Bicycle Repairman
Bicycle Repairman's picture

"an unrealistic belief in 'entitlement'"

A lot of taxes have been paid and lives have been planned in expectation of some return from the government.  You'll note I said return.

Now if the government invested that money in projects that had an inferior return, I understand their reluctance to pay back.  The good news is that these deadbeats have plenty of great assets that can be transferred in a bankruptcy proceeding.  After all, what is the problem here?  Governments allocate capital badly.  Let's turn that capital over to individual citizens and see how they do.

Wed, 08/24/2011 - 14:37 | 1596094 Aquiloaster
Aquiloaster's picture

As more people wake up to the idea that there is "no way out", I hope that someone takes it upon himself to project a timeframe for colllapse and potentially a later recovery. Any ideas out here at ZH?

Wed, 08/24/2011 - 14:43 | 1596117 scratch_and_sniff
scratch_and_sniff's picture

Its all going to happen when the moon is in the seventh house, and jupiter aligns with mars, when peace will guide the planets and love will steer the stars. Give or take a few days.

Wed, 08/24/2011 - 14:50 | 1596149 Bicycle Repairman
Bicycle Repairman's picture

There is a way out.  Liquidate the governments and sell their assets.  Citizens with claims due to taxes paid get first call.  Banks with money created out of thin air can pound sand.

Wed, 08/24/2011 - 15:13 | 1596231 LawsofPhysics
LawsofPhysics's picture

There it is.  Repudation.  The power returns to the creators of real value and the paper pushing fucknuts can pound sand or learn how to become useful again. 

Wed, 08/24/2011 - 17:49 | 1596863 Aquiloaster
Aquiloaster's picture

This is the way out, but it will not happen. Functionally, is there a way out? I was hoping for some realism instead of sarcasm and idealism.

Wed, 08/24/2011 - 14:39 | 1596101 ArkansasAngie
ArkansasAngie's picture

So ... we agree (some do anyway) that we have an insolvency issue and not a liquidity.

The problem ... is there way around the obvious answer nobody likes -- reduction in the standard of living?

imaginary dollars handed out to banksters is not the answer.

Wed, 08/24/2011 - 14:50 | 1596152 Dr. Richard Head
Dr. Richard Head's picture

I think you have it backwards.  We HAVE a reduction in the standard of living precisely because imaginary dollars are handed out to banksters.  Central planning didn't work for the Soviet Union and it will not work for the UK or USSA. 

The USSA has too mny planks of the Communist Manifesto in place.  The standard of living that needs to go down is the banksters.  They need the tide to go out so we can see them naked.  I wouldn't mind shooting a pellet gun at Buffet's old-man balls when the tide goes out.  Should be a blast.

Wed, 08/24/2011 - 15:52 | 1596352 Dr. Acula
Dr. Acula's picture

>is there way around the obvious answer nobody likes -- reduction in the standard of living?

The best standard of living is achieved when the market is unhampered. That's why Ludwig von Mises advocates classical liberalism (i.e. free markets):

"As a political doctrine liberalism is not neutral with regard to values and the ultimate ends sought by action. It assumes that all men or at least the majority of people are intent upon attaining certain goals. It gives them information about the means suitable to the realization of their plans. The champions of liberal doctrines are fully aware of the fact that their teachings are valid only for people who are committed to these valuational principles. While praxeology, and therefore economics too, uses the terms happiness and removal of uneasiness in a purely formal sense, liberalism attaches to them a concrete meaning. It presupposes that people prefer life to death, health to sickness, nourishment to starvation, abundance to poverty. It teaches man how to act in accordance with these valuations." - Ludwig von Mises, Human Action http://mises.org/Books/humanaction.pdf

 There is also empirical evidence that economic freedom is strongly correlated with GDP. "empirical studies based on these rankings have found higher living standards, economic growth, income equality, less corruption and less political violence to be correlated with free markets" http://en.wikipedia.org/wiki/Economic_freedom

So, if you want a high standard of living, choose free markets.

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