Archive for November, 2010

Credit Market Stress Intensifying: Corporate, High Yield Issuance Tanked in November

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My band’s first (and only) EP free to download on http://www.Last.fm. Check it out! http://www.last.fm/music/Speedhair. Love the music! Share the angst!

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…you might as well learn how to handle that with a certain amount of skill, and maybe even a bit of grace. Knowing how to grow some of your own food, keep your home comfortable with minimal energy inputs, and do the other things green wizards can do will help with that; listening to lullabies won’t.

From: The Archdruid Report

The AR, IMHO, is the best blog about the indefinitely near yet sinister future and how to deal with it realistically. A must read for anyone who dares think that things are in fact NOT going to get better in the conventional sense. Enjoy!

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It didn’t take a hundred years for the British empire to be replaced by ours, and it won’t take a hundred years for ours to be replaced by someone else’s. Since we can’t rely on the unusual historical circumstances that allowed Britain to maintain a few shreds of its imperial dignity and some of its privileged economic standing – they were basically able to rent their island out to the American military as an unusually large aircraft carrier conveniently anchored right off the shores of Europe; we don’t have that geopolitical advantage – the aftermath of the American empire is almost certain to be much more like the aftermath of most other empires: economic collapse, massive political dislocations, and a long period of turmoil and contraction until the bottom is reached and recovery can finally start to take shape. The global empire that preceded Britain’s, the Spanish Empire, may provide a more accurate model: that empire imploded in the early nineteenth century in the wake of Britain’s rise to global power, and it wasn’t until the late twentieth century that Spain finally managed to pull itself out of the long nightmare of impoverishment and political chaos that followed.

Again, this is what we would be able to expect if the global economy was entirely based on sustainable resources and the global ecology wasn’t redefining itself in the face of a couple of centuries of fossil fuel-powered abuse. Factor in the impact of energy and resource depletion, climate change, and environmental instability, and the very high likelihood of an increasingly desperate and violent scramble for remaining resources on the way down, and the effects of the end of American empire are likely to be more drastic than anything we’ve seen in the western world since the fall of Rome.

Full report: No Time for Lullabies

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Here’s a great comment I came across on zerohedge today. It raises the question about whatever the hell happened to the leisure economy that was promised me, an 8 year old, in 1979.

“Sometimes I joke with my friends. “Production has been solved”. “It is consumption that is the problem, i.e. how do you extend the proceeds of the solved production dilemma to the population”. Manufacturing of the 40’s, 70’s, 90’s etc. can no longer be measured in manpower inputs, when robotics and methodologies have caused the lathe operator turning the dial obsolete. The ‘problem’ is consuming this largesse that a lathe loaded by a couple of industrial robots produces. We really can be way too productive for the sake of our landfills.” ​

Comment on:

From: @zerohedge
Sent: 28 Nov 2010 18:17

The Euro Has Become Schrodinger’s Money: Goldman Sees European Currency As Both Alive And Dead http://is.gd/hVK1N

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“Do I like the idea of getting blown sideways out of an airliner at 38,000 feet by some brain-damaged zealot with a knot of C-4 nestled beneath his scrotum? As I plummet screaming from the blot of smoke that used to be a 727, will I find serenity in my final moments because I know the guy who killed me didn’t have his rights violated by the gendarmes of the TSA? No and no. Do I think there are enough credible dangers out there to justify heightened security measures, especially during the holiday season? I’m leaning towards yes, and if that amounts to political heresy, so be it.”

From: The TSA, the Right, and My Busted Watch

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As I was saying…

From: @zerohedge
Sent: 27 Nov 2010 00:18

RT @washingtonpost: N. Korea fires artillery in a new warning to South, U.S. http://wapo.st/gvU9nf

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The article linked below suggests that Ireland is the ground zero of the global shadow banking system. How else could a country of a little more than 4 MILLION PEOPLE have a total debt of $867 Billion!!! That’s just criminally insane… A good chunk of this debt was taken on by multinational banks to partake in complex leverage schemes (I.e. high octane gambling) that are not permitted in their countries of origin. Germany seems to be particularly guilty here.

This house of cards WILL collapse…IS collapsing… and there will be no escaping it anywhere in the World. At best, a controlled demolition of our system would be required to reset a modicum of sanity to how our technolgically advanced but utterly morally bankrupt civilization functions but the depravity (yes depravity…and we all enjoy it mightily thank you very much) to which things have been allowed to fester is simply beyond anything any group of Elites can be expected to manage without it flying off the rails. It really is that fucking bad ok? Now back to your turkey! But first read the post linked to below!


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Xmas Wish:

“Santa, please, please, please order your reindeer to stomp the life out of the idiotic fantasy that Americans buying a few billion dollars more needless junk from China is any sort of evidence that the U.S. economy is “growing at a healthy clip.”


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This stuff makes me sick to the stomach…

The Telegraph reports that “the Irish government has been given a stark warning from some of the biggest American companies in Ireland on the risk of a mass exodus if the country’s low corporation tax rate is raised.” If companies, which are purely circumventing much higher US corporate tax rates, also have to share the austerity burden, they will simply depart from the already insolvent country, leaving it with even less tax revenues, thus accelerating the toxic loop of greater insolvency coupled with even less revenue. And since the IMF is backed primarily by the US, which is end-domicile to the bulk of the corporations in question, it is obvious that MNCs have all the leverage and will most certainly get their wishes, further widening the chasm between the “corporation” and the simple Guinness-drinking, potato chewing peasant. In the brave new world, the pursuit of life, liberty and happiness applies only to (bailed out) banks and corporations. Everyone else has been relegated to footnote status.

Full comment from ZeroHedge

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