A song written in 2005 about what is going down in 2011!
Into the Silos
What do I know?
Whispering sweetest secrets
For all the World to hear
It’s live on television
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I was a #Glee virgin until this season’s first episode. While I hate musicals I definitely enjoy Glee. It’s damn funny. But while we all drool over this season’s new offerings on t.v. the world does continue to fall apart. Brace yourselves for the real drama of living through yet another financial crisis…it’s coming… It’s not a mater of if but when….
Imagine trying to explain to a grandmother or a teenager that a lot of very clever people in the financial world don’t actually believe in dollars, euros and yen. Exchanging goods and services for bits of paper is a confidence game, say some; a conjuring trick without bones, because without the skeleton of a gold standard, so-called fiat currencies are worth nothing more than the paper they are printed on.
Even the majority of finance professionals who don’t see any need to back currencies with precious metals are haunted by the thought of the central bank printing presses whirring into action. And, with every nation in the world trying to export its way out of trouble, the beggar-thy-neighbor race to devalue currencies will only gather pace in the coming months.
When I’m 64
Folk wisdom claims that bumble bees defy the laws of physics because their power-to-weight ratio should be insufficient to allow flight. Luckily, because the bees don’t know this, they happily take off, buzz around and land, buoyed by blissful ignorance. Similarly, no sane investor would ever buy a stock or a bond if they stopped to consider the inverted- pyramid mathematics of an ageing, death-resistant population, a slump in birthrates, and the New Normal of spectacularly low returns in a post-bubble environment.
How on Earth is society going to pay pensions to this growing army of old people? If granddad does what investment theory says he should and socks his nest egg (assuming he even has one) into the ultra safety of Treasuries, earning a record- low yield of less than 0.45 percent on two-year securities, how will he afford his medications? Many countries and companies are probably bankrupt once you account properly for their future obligations; some problems, though, are too big and too intractable and too downright scary for polite conversation.
I strongly recommend to anyone who thinks life is just great and all will work out fine to read the article linked to below and then snap out of it!
Dangerous Economic Misconceptions by Giordano Bruno
Reposted from Neithercorp Press
The reason the information we report on is disturbing is not because it is “bad”, but because it is TRUE. There are children who could make the distinction, but some full grown men and women seem to have difficulty with the concept. When the establishment says that we as researchers and alternative media do not have a right to spread facts that might upset you, what they are also saying is that you as an American cannot be trusted to act responsibly and constructively with the facts you are given. They are saying that they need to protect you from yourself. Who ever gave them permission to take on that job?
The Doomer Porn argument rings hollow because what I state here in these articles is entirely subject to your verification. If I embellish, or lie, I will be caught, and thus, my writing becomes meaningless. If I tell the truth, the hard truth, it is not up to me or the MSM or anyone else accept yourself to decide what you will do with it.
Perhaps the greatest misconception of all, especially in economics, is that bad news encourages bad events. That the truth is hazardous, and for the economy to remain healthy, the establishment must continue to lie. The presumption that our financial system is so dependent on our mass psychology is complete nonsense. The dollar is being fundamentally debased whether or not we blindly “believe” the dollar is fine. Our country is facing unserviceable national debts whether or not we force ourselves to think positive thoughts. The stock market is exceedingly overpriced and primed for collapse even if you and I ignore all the warning signs and drink margaritas on white sandy beaches all day with big dumb smiles on our faces. Two plus two equals four no matter what the psychological state of our society is. The facts are not subject to my “good vibes” or “bad vibes”, and if this is the best argument MSM pundits can make against legitimate alternative financial analysts, then I think they need to pack it up and leave the thinking to more adequate men.
Very interesting analysis from an essay that explores Thomas Pynchon’s concept of history by drawing links between Mason Dixon and Gravity’s Rainbow.
by Ariss DerHovanessian
“A … devastating consequence of conventional history is that once consolidated, the voices of Pynchon’s beloved “preterite,” the suffering and powerless masses, are written out and covered-up. “What passes is a truth so terrible that history–at best a conspiracy, not always among gentlemen, to defraud–will never admit it. The truth will be repressed or in ages of particular elegance be disguised as something else” (GR 164). Antonio Marquez suggests that for Pynchon, history is a “system of illusions, an enormous con-game that shields grotesque lies and conspiracies” (Marquez 55). But beyond the fact that so many crimes, like the extermination of the Hereros in Africa, are virtually written out of official histories, a philosophy of history that tends to focus on events, causes, and effects, rather than on people, completely disregards human suffering. Ultimately, such a perception perpetuates a deceptive aggrandizement of the past. When students of history are forced to painstakingly memorize a series of meaningless facts, names, dates, and places, it becomes easy to neglect the real pain that real people experienced.”
It’s gonna drop soon…within a week or two….don’t know what it’s going to be…the eruption of Mount Katla? Another huge crash in the markets? California hit by a 10.5? All of the above?
This is just a gut feeling… I mean there is so much going haywire these days that I’m hardly the next coming of Nostradamus if I prove to be correct on such a vague timeline (as oppsed to predicting next Tuesday at 3:44 GMT) but I’ve had these feelings before….the last one was before the Flash Crash and the one before that was a week before the Tsunami in 2004….
I did not have any premonitions about the Lehman collapse, but then again people who were very well placed to see it didn’t either….
Guess I’ll just mix myself another Mohito and sit back and wait for the show….
A fantastic post about how past civilizations have dealt with the shift from complex to simple…Empire to Feudalism… It’s a story as old as civilization itself..and we are next in line…
Excerpt from “After Money” by John Michael Greer
As the rising spiral of economic trouble continues, we can expect drastic volatility in the value and availability of money – and here again, remember that this term refers to any form of wealth that only has value because it can be exchanged for something else. Any economic activity that is solely a means of bringing in money will be held hostage to the vagaries of the tertiary economy, whether those express themselves through inflation, credit collapse, or what have you. Any economic activity that produces goods and services directly for the use of the producer, and his or her family and community, will be much less drastically affected by these vagaries. If you depend on your salary to buy vegetables, for example, how much you can eat depends on the value of money at any given moment; if you grow your own vegetables, using your own kitchen and garden scraps to fertilize the soil and saving your own seed, you have much more direct control over your vegetable supply.
Most people won’t have the option of separating themselves completely from the money economy for many years to come; as long as today’s governments continue to function, they will demand money for taxes, and money will continue to be the gateway resource for many goods and services, including some that will be very difficult to do without. Still, there’s no reason why distancing oneself from the tertiary economy has to be an all-or-nothing thing. Any step toward the direct production of goods and services for one’s own use, with one’s own labor, using resources under one’s own direct control, is a step toward the world that will emerge after money; it’s also a safety cushion against the disintegration of the money economy going on around us – a point I’ll discuss in more detail, by way of a concrete example, in next week’s post.
Time to stop drooling about iCrap and worrying about Internet business models and pick up some books on Carpentry and Sheep Farming.
At least do yourself a favour and just consider for a moment – a moment – how you would get by if you could not withdraw money for a month or so and the Internet, for all practical purposes, was down for good.
Our great grandparents would be shocked to see how incapable we are to fend for ourselves in a time of unimaginable crisis.
Note to self: Don’t forget to buy a hand wound radio!
“The US economy is unsustainable” says Roubini