The Absence of Police And Consequent Looting Could Be A Ploy by Mubarak
Is the state responsible for terrorism against its own people?
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Is the state responsible for terrorism against its own people?
"I have been authorized -- mandated -- by the people who organized these demonstrations and many other parties to agree on a national unity government," ElBaradei told CNN. How can anyone have a mandate without formal elections? ElBaradei is a complete crock of shit. And if you asked the people in the streets of Egypt if ElBaradei has been anything, it would be absent from doing the heavy lifting. But now that others have taken risks with their freedom and their lives to lay the groundwork for change, a political whore steps in to take control and seek his fame and glory. Those who primarily seek power are no different whether that be in America, Egypt, China, England, France, the Soviet Union, Nazi Germany or Ancient Rome.
This seems all too familiar to me. The Russian Revolution of 1917 was ultimately subverted by power mad elements many months later. And the people who started the revolution for just and moral reasons, were ultimately ground under the wheels of a power grab by the Bolsheviks who then created the tyranny that was the Soviet Union.
ElBaradei is a political whore who sees an opportunity to grab personal power. He didn’t have anything to do with this populist movement and now he wants to insert himself into a position where he can ultimately gain some type of political advantage. There is no truth or enlightenment for a new Egypt in his message. Just more political idiots trying to control the process of freedom. It’s no different than Dick Army or Sarah Palin inserting themselves into the Tea Party movement. Power grabs by political whores.
We won’t know for months or longer what the ultimate fate of Egypt will be. But ElBaradei exposes himself as an opportunist with these proclamations. I would almost guarantee that the Egyptian people will see right through this and ElBaradei won’t gain any substantial role in a sustainable Egyptian government.
For those who don’t know, Renesys is an internet performance and intelligence company. To people more interested in how a state could shut down the last bastion of freedom, the internet, Cowie explains in simple terms what happened in Egypt and the implications for economic stability. Might you remember, well before this crisis we wrote of coming supply chain shocks around the globe because of the ridiculous stupidity of our politicians and the economic Frankenstein they have created under the bribery of their corporate masters.
If China’s economy completely collapses, and my analysis of the data says it will, what would happen if China shut down the internet? (We wrote years ago we expect GDP to drop by 30-50%. This is not a real estate bubble as is being discussed. As we have said repeatedly, it’s a capital bubble for those who understand capital theory - apparently no one.) How might that affect global financial markets? Think Wall Street’s Frankenstein models take that into account? Hahaha. That’s not a funny laugh either.
As we have written in countless posts over the years, in order to please its corporate masters, the U.S. government has simply transferred our wealth to a communist country. It has effectively paid Communist China so that they are able to prepare themselves and arm themselves for future conflict. Sounds more than a little like what happened with Nazi Germany. American firms loved the Nazis before they started killing millions of people and blowing up half the world. Actually, corporations love China even though they already kill millions of people. Apparently, as a civilization we are going backward. Political idiots haven’t learned a damn thing in eighty years. We knew that too.
Frankly, if the Soviets were capitalists, we would have armed them as well. None of this is new to long time readers. Most politicians are idiots and our anticipated outcomes have been laid bare for years.
The impossible becomes the probable?
Long time readers know one of our anticipated outcomes to this cycle is social instability in China. Something we wrote long before any volatility was evident. All in due time.
No leader from either party in Washington is talking about ending the corporate welfare state. The Republican leadership has already dealt its hand in the short time it has been the majority in the House. Its leadership wants to devastate social programs while keeping the $1 trillion military corporate welfare budget off limits. And corporatism in its whole is lining the new Republican’s pockets at a record rate.
With government spending 70% of national income – and doling it out to corporate favorites and cronies – government is THE problem with our economy. The corporatocracy is suffocating our society. But this has been happening at an ever increasing rate for over thirty years.
The answer is simply not to slice government spending on social programs, which will have devastating human consequences. It is transitioning to a new economic model and even a new banking system focused on human development and democracy while then throttling back the fascist state.
This new Congressman speaks the truth. Our President’s vision of America is one where bureaucrats on high determine economic winners and losers and hand out government money and favors. Just like the Soviet Union. Just like Egypt and Tunisia. Make no mistake, this is not just a vision of our President. This has been and remains the Republican party’s vision as well.
Just a few minutes ago Hillary Clinton told the press that the U.S. wants an orderly transition away from a Mubarak government. That calculated statement is obvious in its message. The U.S. sees the Mubarak regime has no ability to control the people of Egypt and has lost complete control. The U.S. has now completely distanced itself from the Mubarak government. Without a miraculous change in events, the Mubarak government is gone. It’s just a matter of when.
In Cairo, tens of thousands of people--from all walks of life--faced off against riot police armed with shields, batons, and seemingly endless supplies of tear gas. People talked about Friday’s protest like a war; a war they’d won. "Despite the tear gas and the beatings, we just kept coming, wave after wave of us," one protester said. "When some of us would tire, others would head in. We gave each other courage." After several hours, the police were forced into a full retreat. Then, as the army was sent in, they disappeared …………………………………………….. There is a great sense of pride that this is a leaderless movement organized by the people. A genuine popular revolt. It was not organized by opposition movements, though they have now joined the protesters in Tahrir. The Muslim Brotherhood was out in full force today. At one point they began chanting "Allah Akbar" only to be drowned out by much louder chants of "Muslim, Christian, we are all Egyptian."
“They (Egypt) should have learned the lesson of what happened in our government in Tunisia. The more violent and oppressive they (the state) gets, the more violent and angry people will be…… They (the people of Egypt) are motivated by genuine anger and genuine urge and need for freedom and for better conditions.” - Fida Al Hammami in Tunisia
There is no leader of this movement. Who replaces Mubarak is utterly irrelevant. We are a population who needs to learn how to give birth to leadership and how to choose it. As long as Hosni Mubarak is in power, we are incapable of doing this. So why don’t we just face our destiny now.
This is what happens when millions upon millions of people live on the edge of having nothing while a plutocracy rapes and pillages a society. And then flaunts their theft. When family members or friends are spied upon or disappear without due process for showing dissent against fraud and corruption. When authority lives off of the productive capital of society yet denies those very people access to society's capital, denies them human rights, denies them freedoms and denies them basic human dignity.
Courage begets courage. Let’s hope this ends constructively. The state’s only weapon against freedom is violence.
I also find the remarks from Hillary Clinton and President Obama asking for Mubarak to embrace reforms as nothing more than hollow political posturing. This is a game of political chess and the U.S. is trying to ensure it ends up on the right side of any new government if one emerges. Mubarak is on the U.S. payroll and receives billions in aid. Even while he murders and steals from his own people. If Washington really cared about reform in Egypt or the Egyptian people, they wouldn’t have propped up a corrupt authoritarian regime for the last thirty years. A regime with the jack boot on the neck of tens of millions of Egyptians.
The Huffington Post has a nice update on the state of the crisis in Egypt along with some telling video. This is a wholesale revolt now. The government is trying to ban the bastion of modern day freedom - access to the internet - to quell organized resistance.
I see where people organizing in the streets are chanting that the people and the army have become one. In other words, that the people are encouraging the army to join them. It is no coincidence that authoritarian states seek to outlaw religious freedoms. We see that as a common thread in all completely successful authoritarian regimes. Even in those that aren’t as successful, the attempt at banning religious freedoms is always present.
In a police state, successful intimidation and control requires that the police, army or enforcing authority must be a valueless and immoral or at least amoral entity who is able to be brainwashed into a belief system that embraces the primacy of the state. In other words, that the state serves primarily as the enforcing authority’s religion or the basis of its moral belief system.
In other words, Hosni Mubarak and his thugs will never be successful using the army to smash civil disobedience because the masses in Egypt, including the army, derive their moral values through their belief in authority beyond the control of the state. That is, their religion. The Egyptian army is not going to start wholesale butchering their brothers and sisters in the street because it conflicts with their belief system. Their primary belief system is not the state but their religion which forbids them from becoming killing agents against their neighbors, friends and family who are part of the revolt. In a completely statist environment, the belief system of saving the state would allow the enforcing agents to do whatever is possible to save the primacy of the state, the foundation of the belief system for those serving it.
The illegitimacy of the state can only be enforced through control as long as the people let it. In other words some matters of thousands of authority cannot enforce obedience upon tens of millions of people unless the people allow it. …… Without the enforcing agent of the state, Hosni Mubarak will not last. But the dichotomy exists that the enforcing agent of the state is not aligned with a belief system that would allow it to kill its own people.
Egypt may have reached a tipping point in just a few days. And calling out the army may have been just what was needed to seal the fate of the fall of Hosni Mubarak.
Just two days ago we wrote “Expect the police state to eventually issue lockdown orders and attempt to ban public gatherings and protests as Egypt faces Tunisian-inspired protests.”.
I find it interesting that Hudson remarks of criminal racketeering on Wall Street and we wrote some time ago that someone would eventually pick up on this and prosecute Wall Street under racketeering laws originally set up to go after organized crime. Let’s be clear. Wall Street is an organized crime syndicate. The Wall Street banksters are in fact mobsters who have perp’ed the greatest crimes against this country. Ever. There is enough generally-available date to believe a thorough investigation of the evidence would land every major banking (Wall Street) CEO in prison.
"Sometimes the law defends plunder and participates in it. Thus the beneficiaries are spared the shame and danger that their acts would otherwise involve. But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to the other persons to whom it doesn't belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime." -- Frederic Bastiat
No link here. Just the headlines from this morning. Tunisia’s rise against tyranny is spreading through the Middle East. Thugs have to be nervous in every country that has stolen dignity from its people. On some level both Egypt and Yemen are projections of American hegemony.
I wrote on here years ago that as America’s power wanes it would lead to power vacuums and volatility around the world. While America has not completely lost its grip on the world, it is bogged down in multiple senseless wars and power struggles and surely is unable to respond as it may have a few decades ago. It is showing clear and obvious weakness in its ability to control the world both militarily and through financial bribery as it has for decades. In other words, this outcome is just now starting to come to pass.
This volatility is likely to get worse. And some vacuums obviously have the potential to be replaced by anti-American regimes and even more dictatorial states. We shall just have to watch and learn as this environment unfolds over coming years.
America’s hegemony, like Rome’s, is based first on economic might. That might has been decimated by fraud of its elites and politicians. Just as we wrote happened in Rome.
Rome is burning. Volatility dead ahead.
Success in financial markets is all about risk. There are times to be bullish and times to be prudent. I have shown this volume cycle count algorithm numerous times on here. In fact, we showed it as a sign the market was bottoming in late 2008 and early 2009 when people like Nouriel Roubini were bearish. And it is one of the data points we used to anticipate the 2010 top in equities off of the 2009 low. This is a very powerful algorithm in its predictive abilities. It isn’t perfect but given how it is constructed, one should heed its actions.
Every single sustainable rally shows the counts on this algorithm rising along with the market. And every single decline is either coincident or preceded by this algorithm declining. Today the algorithm is imploding while the market pushes higher on a linear regression line that I believe shows all major market participants are on the same side of the trade. You know, like the China story, the commodities story, the peak oil story, the housing story, the internet story, the global warming story, the Apple story, the emerging markets story, the diversification story and all of the other lies of Wall Street con men.
I don’t share the basis for my conclusions but I generally share enough to give some indication of why I take the positions I do. This is one such data point. And if one is watching global credit markets , one should be worried right now because there is massive volatility just below the surface veneer of stability.
As I have noted numerous times over the last few months, I remain worried about a rapid decline in markets. Obviously Ben Bernanke and Barack Obama don't appear worried since in the last week both have cited the rising stock market as a positive sign the economy is recovering – a completely ignorant position. The stock market rising is a sign the economy is not recovering. In other words, there is no demand for capital in the underlying economy so available credit is being used to manufacture greater and greater profits and leverage in financial markets for Wall Street masters of the universe enabled by a corrupt Washington bureaucracy.
Egypt is in a panic today as dissent hit its streets in a country where the plutocracy endlessly pillages its people and perpetuates massive poverty. Expect the police state to eventually issue lockdown orders and attempt to ban public gatherings and protests as Egypt faces Tunisian-inspired protests.
As we have remarked over the last few years, the state becomes fearful when the smell of freedom is in the air. As we said just days ago, acts of moral clarity are contagious. Acts by those seeking freedom and justice give strength to others seeking freedom and justice.
Egyptians deserve their freedom and the end to a reign of thuggery by Hosni Mubarak and his pack of goons.
Other leaders, such as Egypt's Hosni Mubarak, in power for more than 30 years, have followed a similar playbook. Last year, facing rising public anger over food prices and stagnant wages, as well as criticism from Washington over its human rights record, Mubarak responded by renewing an emergency law that grants his security forces broad powers and effectively outlaws opposition parties. His ruling party then so blatantly rigged parliamentary elections in November that his opponents left the government in protest. Mubarak, 82 and in failing health, is expected to coast to a sixth term in elections later this year, or to appoint his son, Gamal, as his successor.
Faber was a pumper of China for many years but has recently come around to our point of view. That is, as he remarks, something is wrong in China. His perspective is that China and emerging markets are a shorter term issue. I believe there is incontrovertible data that the doom will last for a long, long time. And his perspective that the dollar is a short term buy is very misguided when one considers the data.
Faber also echoes our views on the idiots who convene yearly at Davos. That is, it is a group of liars who perpetuate fraud and abuse.
Let’s be clear. Faber has been wrong on some major macro issues over the past handful of years but he generally gets it right. Faber always gives an excellent interview based on his perspective of unvarnished reality.
Updated with working video link.
I had a hard time watching the SOTU address given how much unnecessary continued suffering manifests itself in our economy. Our President is a great talker. In fact, that’s just about the only thing he has done since taking office as it pertains to dealing with the economy. In the SOTU address the President remarked that we have created over a million new private sector jobs. That is a complete mischaracterization of the facts. In two years, our President has created zero net-new jobs in this here United States. ZERO. There are more unemployed today than the day he took office. And analyses show the vast majority of jobs created are low income with little or no benefits.
In the SOTU address the President remarked that the future is ours to win. I hate to tell you Mr. President but we are a sovereign nation. Maybe you haven’t heard and don’t understand that, Mr. President, but as a sovereign nation we don’t have to win anything. We won that battle 200+ years ago. We are capable of producing our own capital and our own jobs with the right policies. Your continuation of neoliberal economic ideology, aka economic corruption, is further eroding our economy, causing undue suffering and destroying countless economic opportunities as I type this. The President talked of attracting new business to our shores. More neoliberal ideological drivel based on junk economics. Working markets in our economy would create all of the jobs we need with domestic investment. The President remarked that the US has one of the highest corporate tax rates in the world. That is a complete line of bullshit. The effective tax rate for the S&P 500 companies is far and away the lowest in the developed world. ie, There probably isn’t a company in the S&P that pays the published tax rate. Our President sounds like the corporatist he is. And the President hails his new trade agreement with South Korea. Another ridiculous bit of rhetoric. Even Donald Trump, a corporatist himself, called this agreement a complete sham that devastates American businesses. Our President talks of a rigged regulatory system created by lobbyists while he signed the two largest rigged pieces of legislation in the last eighty years – the financial reform bill and the health care bill.
Our President is a fine talker. But after two years of nothing but talk and horrible legislation, it all sounds like more of Bill Clinton and George Bush. There is nothing new in this address. There is absolutely nothing in President Obama’s SOTU address that will fix our failed economy. Just as there is nothing President Obama has done in the last two years to fix our failed economy.
We are in the ageless fight of power, fraud and corruption seeking to dominate its fellow man. The same forces that led to the creation of this country. Leadership is as rare today as is the truth coming from the lips of politicians. And our President has shown time and again that he has more in common with Neville Chamberlain, King George III and Herbert Hoover than with Theodore Roosevelt, Franklin Roosevelt, Thomas Jefferson or other authentic leaders in our history.
Bernie Sanders delivered the true State of the Union address last month. That is, we are a nation of elite treasonists enabled by their bought and paid for political stooges.
Jamie Dimon’s ego likes to tell everyone JP Morgan didn’t need any TARP money or government bailout back in 2008. That is an outright lie. They would have collapsed if our government had done nothing. No ifs, ands or buts.
And now we know apparently another dirty little secret. One that is so blatant and willful in its malicious fraud that the perps might be advised to start buying large quantities of soap on a rope. This will be hard to sweep under the rug as all of the other fraud has.
What would the FBI and SEC uncover if we actually had a team of investigators assigned to truly uncover the cause of this crisis? Most likely, horrors beyond belief.
Aren’t you feeling great about the 2010 election results? We replaced Harry Reid and Nancy Pelosi with something even worse – Eric Cantor, Mitch McConnell and John Boehner.
Saudi Arabia and Iran are nearly diametrically opposed on some levels. Saudi Arabia is one of the most corrupt nepotistic fiefdoms in the world with absolutely no regard for human rights. I would go so far to even say Saudi Arabia isn’t even a legitimate political entity. It’s no coincidence Saudi Arabia is a major funding source for global terrorism as it turned a blind eye to the radicalization of its society in order to maintain its illegitimate control. And Wikileaks has exposed that Saudi Arabia encouraged America to fight its political war on Iran by sending our men and women into battle to die for its corrupt fiefdom.
Iran also has a radical element in its leadership. But on the other hand, has one of the most cosmopolitan societies in the Middle East. It has a far better track record on human rights. It has a history of human achievement, art, literature and science going back thousands of years. Many of Iran’s masses have a very pro-democracy view on society. And Iran has a history of a working democracy in the twentieth century before the CIA played a key role in radicalizing its leadership. Iran’s leadership surely is illegitimate on many levels but, comparatively, it is leaps and bounds ahead of Saudi Arabia in regards to a foundation to create a sustainable democracy. In other words, with the right international policies by democratic leaders, Iran just might return to its twentieth century roots as a democracy.
So, why is Saudi Arabia allowed to develop nuclear technology and Iran is not? Well, I think we know the answer to that. A quick search of the news this morning shows not a single headline of this announcement in the U.S. mainstream media. Gee, I wonder why.
If you think about this rather than respond through a lens of a propagandized belief system, the people of Iran have much in common with the people of the United States. That is, American politicians wish to deny access to capital to Iran by controlling what it can and cannot do economically. And they have done this for decades. And in the United States, American politicians wish to deny access to capital to tens of millions of Americans by controlling what we can and cannot do economically. And they have done this for decades.
Government is the transparent self-elected bureaucracy which works as a steward and servant of a free people. The state is that which exists outside of the will and transparency of a free people. So, how much of the U.S. federal government is a servant of its people and how much is controlled by the state?
We have shown this chart of the NYSE with Andrews Median Lines in numerous forms over the past four years. First to show how extended the market was before 2008’s dump, then to nail the bottom support level of that collapse and then to target the ultimate downside of equities after the Federal Reserve squirted money into every financial orifice imaginable. The last time we showed this exact graphic was early in 2010 where we explained the blue ABC patterns. The blue ABC pattern in 2000-2003 is replicated with the exact dimensions on 2008’s collapse with an anticipated downside target. If we see nature repeat itself with the same pattern this cycle, we can expect the NYSE Composite’s downside target to be in the area of 1500 to 2000 or a drop of 85% from the 2008 bubble peak.
The NYSE has now, for the first time, hit the upward rally projection of the blue ABC pattern. That rally projection is coinciding with also reaching the linear regression line going back to the beginning of the massive bull market started in 1982. In other words, heavy resistance exists in both nature’s pattern, the linear regression line and the Fibonacci retracement level. And now what we have is potentially a massive head and shoulders formation. Remember, as we have said numerous times over the last six years, the equity market is many times more expensive than right before the 1929 collapse.
In the last few days Ben Bernanke commented on how constructive quantitative easing has been because stock prices have recovered. I was floored by the complete ignorance of that remark. You should be too. That may have been his most idiotic statement since telling us how great the housing market was right before its collapse. Quantitative easing could have been used for the good of the country, for our people and for investment. But instead he gave it to criminals on Wall Street to re-ignite the Ponzi raping and pillaging of America. To piss money down the drain by wasting it on completely worthless and unsustainable pushing around of paper. Markets or nature eventually punishes every ignorant belief. This one will be punished as well. And if that starts in a significant way before 2012, President Obama is history for supporting an environment of fraud and corruption. And I believe this environment will unravel before then.
The banksters perpetuated much of their fraud by shoveling endless garbage into government run Fannie Mae and Freddie Mac. This feeds the lies of Republicans that these were the instutitions that caused the housing debacle and not Wall Street crooks. Pure hooey. A diversion to protect the criminal corporate masters who line the pockets of political stooges.
Now we find out that We The People spend $160 million defending thugs from prosecution. Many of these thugs are former Clinton cronies. In crony economics, those who are connected remain protected as they pillage our society. Of course, that’s no great revelation. The business model of Wall Street thugs has always been to live off of We The People.
The insanity never ends.
We need a public banking system whose goal is human development and not corporate profits and wealth for the most incompetent in society.
Not long after this liquidity inspired rally in financial markets started in early 2009, we gave two anticipated turn dates for that rally to end. That was May of 2010 and third quarter of 2010. We have referenced this quite a few times since and from much of my work, this date is still the most important date since the 2008 collapse. Market internals I measure by backing out Frankenstein finance’s impact have not recovered. We have highlighted this multiple times over the last handful of months.
I think it’s telling that many of these stock exchanges, so key to globalization, have failed to take the April 2010 highs. And now in early 2011 we see Wall Street the most bullish it has been since its collapse, Wall Street more leveraged into commodities than at any time in history and Wall Street getting out of Treasuries and plowing into risky assets at the fastest pace since 2004. All of this while many indices haven’t been able to push through new highs for nine months now.
As we have noted a few times, if one understands economics and how capital flows through an economy, you would know China has been collapsing since it’s stock market bubble imploded in 2008. A collapse we wrote would happen when the entire would was completely deluded by the fantasy of the Asian century. That we have not seen a single person report this and instead had countless financial masters of the universe re-pump the China story since, shows the effect of bailing out systemic incompetence. Insanity, by definition, is doing the same thing over and over and expecting a different result. Our financial system is run by people who are insane. Or at least, insanely clueless. Too many people think with their eyes aka the ego instead of understanding how the world actually works. ie, China’s real estate and automotive sectors kicked into overdrive after the collapse because demand for capital disappeared. That is clear and incontrovertible evidence of impending doom – Something we wrote about on here back in 2009. I’m sure countless people read my diatribes with substantial doubt. Truth is free for all who seek it. They don’t teach that at Harvard or on Wall Street and those who seek control are never going to find it.
I have little doubt we will look back on these moments of history with horror as the status quo’s Humpty Dumpty global economy is finally exposed as systemically and permanently broken. This is something one could have predicted would happen a long, long time ago. It was just a matter of when.
There is still plenty of time to see both the Democratic and Republican party fall from grace, potentially forever, before the 2012 elections – their just reward for failing to address the corrupt anti-democratic environment they have created. Remember, soon after Obama’s election, we wrote that a third political party Presidential candidate could emerge in 2012. Maybe that will simply be a candidate to challenge Obama in the Democratic primaries. We obviously don’t know. But as events unfold, I believe the evidence is more compelling than ever that President Obama will be sacked in 2012.
It has been some months, maybe even more than a year since we have remarked of it, but our long-discussed downside target for the S&P of 200-450 has NOT changed. Nor has our oft remarked downside possibility for $10 per barrel oil.
There is no recovery. There is no democracy. There is no voice of the people. There never will be until we bust the anti-competitive monopoly Democratic and Republican corporations that control the two party political system and smash corporate personhood with a constitutional amendment.
Now that our President believes in deregulation as a way to please his corporate masters and, therefore raise the funds necessary to get re-elected, maybe we will be fortunate enough to see another Gulf oil spill. Or another Three Mile Island nuclear disaster. Both of these incidents and countless others involved massive cover-ups as to the scale of their poisoning of our people and our ecology. Many experts who were hushed have shown there is substantial evidence that Three Mile Island was very close to a Chernobyl-type event. Additionally, many people were permanently poisoned by radiation. And we highlighted on here how the nuclear power lobby group is one of the largest bribers of our government. What could compare to the combination of peanut butter and chocolate? How about nuclear power and deregulation? A match truly made in heaven. Thank you Mr. President for opening my eyes to why our economy has a 20% unemployment rate and tens of millions of more Americans who are just scraping by. We have too much regulation.
We have seen this type of Gulf spill pollution cover-up time and time and time again in both the oil industry, with dioxin, with PCBs and on and on by incompetent and even criminal acts by corporations and collusion of politicians. Whole cities have often been contaminated in the U.S. and most often nothing is done because common folk have no voice in a bought and paid for Washington.
That the government declared Gulf seafood safe last year is another great act of propagandist lies by the state. The Gulf will be devastated for half a century or more. Compare this Brazilian accident to the the Gulf oil spill. The Gulf oil spill was most likely more than 100x greater than this. And BP flooded the Gulf with enormous quantities of chemicals to disperse (hide) the spill thus making it even worse. Just like there is no economic recovery regardless of the lies of the state, there is no Gulf spill recovery regardless of the lies of the state.
How substantial is the poisoning of our citizens and our ecology from the Gulf oil spill? What are the unquantifiable negative impacts? And how does the state’s attempt to hide the truth perpetuate what will likely be unnecessary illness and even death?
Follow the money……
BAAAHAAAA! OMG, this is so hilarious. I’m sorry. I find President Obama to be a likeable guy and I respect him as a member of humanity, I adore his daughters and I greatly respect his wife but let’s be honest. He continues to surround himself with clowns - he apparently doesn’t have the judgement to be President of the United States in these times. Of course, neither did George Bush or Bill Clinton.
Immelt was a sycophant for globalization and raved about how strong the global economy was, literally right before its collapse. He had no idea just a few months later, his company would be on the verge of collapse.
GE most assuredly would have collapsed were it not to receive taxpayer bailout for Immelt’s stupidity and incompetence. He is just damn lucky he was running a company too big to fail because tens of millions of Americans didn’t get a bailout. They did experience collapse. And now this incompetent stooge replaces Paul Volcker? HAHAHAHA!
My God, the world has gone completely freaking mad! Someone please punch me in the head and wake me up. Either that or pass the crack cocaine so I can have some of what these guys are on.
Things continue to get more and more interesting. The winds of change are nigh as modern day leaders and heroes emerge to expose the plutocracy for what it is. Their exposures feed off of the energy brought about by each other’s acts of moral clarity against a fraudulent financial structure and its beholden political stooges.
In other words, courage, moral clarity and virtue are contagious and have the potential to spread like wildfire around the globe.
Updated: Link fixed.
This is a very interesting article. It considers how the status quo is thinking regarding the mess that is state finances and pensions. Mind you, it is apparent from this article that the Washington politicians considering these plans have absolutely no problem doing it extra-constitutionally if not flagrantly violating our constitution and rule of law. It wasn’t too long ago we wrote on here that there was too much apathy with regards to the possibilities of what would happen with public pensions and benefits and it now appears the beavers have been very busy – they are trying to bring Greece to the United States.
Again, as we have said countless times, we need to see an adjustment in public finances because the private sector’s ability to pay for public services has been decimated by government corruption, but we should seek to a society where all Americans have a living wage, access to affordable health care and a dignified retirement. And for those who say this is impossible, and that this is an example of the nanny state being unsustainable, you are a clueless ideologue. I could map out an easy solution which provides these values in a sustainable society. And I am sure countless others have even better solutions. But we are not able to consider debating these solutions because the status quo is hell bent on maintaining power and control in lieu of embracing ideas or change. (More of that change you can believe in. With civility of course.)
If we see anything like the GM plan, what we are going to witness is a massive restructuring of benefits and pay cuts within the public sector community and for its retirees. And that means we are going to see a massive drop in money in the economy, even greater austerity and subsequently, even greater bankruptcies and agony. I have been saying they are going to try to bring Greece to the U.S., and that they are coming for your Social Security. That is exactly the basis for this plan discussed in this article.
If they pull this off, federal government employees are next.
My neighbor is a retired banking executive and his wife is a retired state employee. He is completely brainwashed by his undying belief in the modern day Republican party – a party which shares absolutely none of the values of its first President, Abraham Lincoln. I wonder how he would feel about his beloved Republican party were his standard of living cut by 30% and those two Lexus cars he is so used to leasing every two years would become unattainable? And because of these massive cuts, his kids might be moving back home and mooch off of mom and dad because they are unable to make enough money to be self-sustaining? I suspect he would relinquish his false belief system and quite possibly would never again vote for the Republican party. Ahh. What a glorious day that be! Then we would have something to talk about other than mowing the lawn.
The age of enlightenment continues. As time goes on, more and more people will jettison their false believes and join the movement of truth and reason. And that means the system they so falsely supported will no longer serve any purpose. The status quo is dying.
This week our President reaffirmed the political primacy of the corporation over working markets or our citizens by telling us the keys to future relations with China are improved business ties – a quote taken directly from Chamber of Commerce and Wall Street lobbyist play books.
Alternatively, the state of Iran, which was once a democratic society before the CIA’s meddling and America’s insertion of a police state, and has the potential to be a much less belligerent enemy than communist China, and who has substantial western- leaning leaders and a generally pro-western society, is the target of the full force of the military-industrial complex and state-based games of power and control.
Who decided communist China, a government which has killed tens of millions of its people and seemingly has no regard for human life as it endlessly pollutes the environment and poisons its citizens, should have a future determined by business ties while Iran should not? That would be the games of the state which serve a purpose of validating its existence. Mind you, as we have said countless times, American businesses are not a credible basis for a foreign policy of reason or human rights as we found out with Nazi Germany. American multinationals loved Nazi Germany before the start of World War II.
It’s time to end corporate personhood and the fascist corruption they hold over the rule of law and our government.
………….Mr. President, Your Faulty Beliefs And Lack Of Knowledge Are Part Of The Problem With Our Economy. When Will You Bear Witness To The Truth? To The Economic Plight Of The People In An Environment Of Unprecedented Government Corruption And Economic Ignorance?
“The corporate state does not find its expression in a demagogue or charismatic leader. It is defined by the anonymity and facelessness of the corporation. Corporations, who hire attractive spokespeople like Barack Obama .. to bolster tyranny.” -- Chris Hedges
This op-ed by our President is terribly troubling and very disappointing for someone who supposedly was elected on a platform of transformational change in Washington. I believe in action not rhetoric. Especially when it comes to politicians. Our President is proving to be no different than the corporatist politicians before him who dismantled our economy, our social safety nets and our jobs base. There is not one piece of legislation championed by our President that created a single net-new permanent job in our country. This malaise that is incorrectly called a recovery, is because of the Federal Reserve throwing trillions of money to the banksters. The difference between Obama and Bush is that the former has a better delivery to the same economically-ignorant corporatist message.
Contaminated drinking water, poisonous food, unsafe medicine, unsafe nuclear power plants, mercury dumped out the factory door, disease and illness caused by pollution, predatory banksters bilking society, Wall Street manipulating commodities…. This is the world I long to perpetuate. This is the dystopian world of fascism – the blending of corporate power with a bought and paid for government of fraud.
If the government is going to be the arbiter of private markets, private interests must be removed from the political and decision-making process regarding those markets. In sports, one of the teams are not allowed to comingle with the referees to determine the outcome of a game. The same holds true in working markets. Our President should instead announce no more private concerns are going to rig markets with the help of politicians.
Wake up, Mr. President! Regulations are the necessary rule of law applied to economics. They are the rules to the game of a working market. We are a nation of laws. Contrarily, red tape is a favorite game-rigging exercise of Washington politicians paid for by corporations. (Something our President has already shown a high affinity for given he signed a corrupt financial rigging aka reform bill and a bureaucratic for-profit rigging mandate to line the pockets of a fraudulent health care system.) Your position, Mr. President, is anti-competitive, anti-democratic and anti-working markets. The only question I have is if politicians support these beliefs ignorantly or by conscious choice.
Is it really any surprise that our corporatist President now labels regulation as the problem with our economy? That is absolutely hilarious. It is an extension of the dismantling of the rule of law that has gone on for decades courtesy of Washington meddling and corruption. But the Democratic Party’s existence is bought and paid for by corporations. Unless our President is going to dismantle the red tape created by him, his party and their corporate masters over the last four decades, his no-op ed in the Wall Street Journal will have zero positive impact on our economy. Now with fundraising for 2012 elections a primary concern and his propensity to appreciate the rigged legislation he has already signed, what is the chance President Obama or the Democratic party has this as their intent? Somewhere just south of zero.
Our President was certain of what the problem was when he took office two years ago. Two years later, with a higher number of people unemployed and tens of trillions of dollars of additional Washington foolishness to pay for, he now tells us his initial plan wasn’t the right plan. By implication, that he didn’t understand what he was doing. So now he’s certain he now has identified the real problem and has a new plan to continue dismantling our rule of law. That won’t work either as we’ll find out when he comes back throwing another random dart at the wall at some point in the future. More Orwellian political meddling by politicians who know little or nothing about working markets but know everything about how to serve their corporate masters. And let’s be frank, while President Obama is a likeable person for many, he doesn’t know shit from Shinola about what he is or isn’t doing to the economy. If he did, our economy would be screaming ahead. At least the Republicans had some idea what they were doing. They knew they were dismantling democracy, regulations and our economy. I’m not sure which is worse.
It’s time for politicians to start raising money for the 2012 campaign and all we need to do is follow the money to find the truth…. The President’s op-ed has been spoon fed to him by his corporate masters.
In closing, the opening line to the President’s op-ed is, “If the FDA deems saccharin safe enough for coffee, then the EPA should not treat it as a hazardous waste.” is a scientifically-dubious statement of a corporatist beholden to a product with many safety concerns. Especially since the FDA is one of the most corrupted corporatist agencies in the federal government with countless decisions based on bribery and fraud including the patenting of food, a crime against humanity and an illegal act what was once a rule of law in this country. Saccharin has been shown to be a potentially very toxic substance from the scientific research I have seen. I suspect the EPA has a point. But the EPA doesn’t pay for President Obama’s campaign.
There is no recovery.
Change you can believe in. Excuse me. Market that civility and change you can believe in.
For anyone who has read about Stuxnet, this is an amazing story about state-based terrorism and espionage. I have little doubt that the death of an Iranian nuclear scientist some months ago was a result of murder perpetuated by the state. You may actually support that murder. But what if is was your father or husband or brother and he was a nuclear scientist in the U.S., England, France or Japan? We are bound by laws to protect us from this type of evil.
We wrote on here four or five years ago that much of what is happening economically around the world today seemed very coincidentally to look like economic warfare perpetuated by the United States. Especially with regards to China. Now, I believe the odds of this actually being the case are very low without supporting evidence. But, I do believe economic warfare is waged every single day by the meddling state. Russia, China, North Korea, the U.S. and others are involved in spying, espionage, murder, internet attacks and other levels of meddling that serve the state. I would agree some of that meddling may be necessary by our government given the amount of evil in this world, but under the current circumstances, on every level I reject the outright secrecy of a government gone mad.
Wall Street is “all in” in their belief once again that they are the masters of the universe and the future is bright.
A friend of mine coined the term ‘bear fatigue’ the other day when we were talking. I think it’s more than appropriate given the dynamics we see in markets - short interest imploding and Wall Street enthusiasm at a level not seen since before the collapse.
We were talking about the steady rise in some monetary numbers, and while many regard these as bullish, I do not. There are a couple of dynamics in these numbers which are actually reflecting how bad the economy is as opposed to an economic recovery as a surface view of the data would support. A few of those dynamics are, 1) Record foreclosures. Record numbers of Americans have chosen to either default or cannot pay their mortgage. That leads to greater increased demand deposits as less money is put toward mortgages, associated taxes and in some cases, even utilities. S2) The amount of cash in the money supply is rising greater than the money supply. This is likely due to illegal activity and an underground economy as both good and bad money respond to government corruption and the lack of rule of law. In other words, an underground economy that we know was so large in the Soviet Union, pre-capitalist China and other corrupt societies. 3) We already know that unemployment rate continues to rise regardless of the statistics and political lies as new workers enter the workforce. That means any wealth recreated through Federal Reserve and political activity is even more concentrated in corporate profits and the top five percent of the population. If this wasn’t the case, the government would not have spent 70% of national income last year as we noted in a prior post. And 4) People are cashing in their retirement accounts or liquid financial assets to stay afloat are padding certain monetary figures.
The money Bernanke flooded the banking system with over the last two years has landed in the hands of the very few just like the neoliberal policies instituted by both political parties before the 2008 collapse.
This injection of money is no different than an automobile running out of gas and now we have put more gasoline in the tank. But we have no more money to buy additional gas, but continue to drive to our destination. All seems well until one actually looks at the gas gauge and yet, we cannot seem to institute policies to put money in our wallets but instead keep putting small amounts of gasoline in the tank. And we are doing it on our credit card. Government could be solving our problems but it is making them worse.
There is no cash on the sidelines for 95% of Americans. Nor is there any retail investor outside of the investor class. People who live in this life of delusion have no idea what is going on in the underlying economy. And why should they? They are systemically-incompetent. And these losers are only in positions of authority because they pay our government billions of dollars in bribes to remain in positions of authority. The market would have buried them decades ago. Nine out of ten Americans have some small handful of thousand dollars at best in the stock market either directly or through corporate 401K plans. So, these people are not hurt one bit if financial markets collapse. They are only hurt through the fact that we have neoliberal policies of trickle down economics. And as the rich are decimated by collapsing financial markets in coming years, they too will suffer once again without another bailout. Remember, this is the cycle the rich get taken out. That will happen as their savings are destroyed both by loss of business and financial assets. That is, unless our government wakes up and institutes democratic economic policies.
Above is a linear regression of the S&P 500 over the past few months. The S&P and the German Dax are just about the only financial markets going up in the world right now. The regression analysis is as near to perfect as perfect can be as price clearly has a near 100% affinity for this analysis sans a mild hiccup in the middle – a pattern we have already discussed as Linday’s theory of middle sections in both price and time. (In other words, this pattern is nearing exhaustion.)
This is clearly a market that is being manipulated. This pattern is a sign that bears have been wiped from this market similar to our post on Apple and countless other bubbles. A market controlled by only bulls could pull this stunt of incredibly low volatility and near 100% correlation to a regression analysis. There is no randomness of buyers and sellers within a rising, listless or falling trend. That likely means everyone is on the same side of the trade in the S&P. Something we said would come to pass time and again since the collapse. And, now to go with it, we have bear fatigue. Seemingly, the bears have thrown in the towel. All at a time Wall Street is very bullish.
Global markets which have been completely correlated for years due to Wall Street’s Frankenstein finance are coming unhinged. This is a very serious development that no one is discussing.
I think we are going to look back on this environment and see this rise in the S&P over the last few months was driven by hot money being repatriated into the U.S. from abroad. The Bovespa, the Sensex, the Shanghai Composite, the Paris CAC and other foreign exchanges have gone down or gone no where during the exact time of this rally. And so has emerging market debt. Emerging markets are raising rates and even putting on capital controls as we have discussed. Wall Street hot money does not want to be in these bubble economies when the poop hits the fan.
But, let’s be sure to refrain from honest debate and reasoned discourse (as we clearly have been for years) as elites rob our country blind and leave countless millions devastated, without employment, homeless and even suicidal. Not to mention the hundreds of thousands of children whose parents, both within the U.S. and in other countries, who were killed or maimed by the political war machine, including countless civilians. Where is the political outrage at these dynamics? Where is the call for civility in these uncivilized dynamics?
But let’s be sure to appease the fraudulent and corrupt as they spy on us, destroy the rule of law, mock our freedoms and then take what they will from those without a voice. Of course they do it with civility. No more criticism of our politicians. No more dissent. I believe in civility and the rule of law but our politicians from both parties continue to destroy both.
Civility you can believe in.
We have been highly critical on here of politicians attempting to restart a failed economic ideology, and as part of that, of asking consumers to spend their way out of this environment. The desire to keep this economic model going is built completely on fraud and betrayal of the American people.
That said, way too many people look at revolving consumer debt as an indication of future economic performance. If you think the health of the consumer is a valid economic indicator of what will return this economy to health, you are going to miscalculate this recovery as every idiot on Wall Street has. As we have said on here numerous times over the years, total trade in the American economy is nearly 4x that of consumption and GDP is not an appropriate measure of economic health. I haven't told you how I measure that because it is a secret that apparently no one in economics understands. :) But it is based on generally available data.
What this implosion is really pointing to is that the most wealthy Americans are now pulling in spending. Everyone else is broke. In the neoliberal world of economic neofeudalism, the top 5% of Americans represent the vast majority of consumer spending. One surely can’t expect this dynamic to be sustainable. The virus of economic chaos is instead moving up the wealth chain and eating into the pockets of even the very wealthy.
Remember, as we have written countless times, this is the cycle where the true believers, or the investor class, are crucified for their ego’s belief that they rose to where they were because of intelligence and ability. Hahahahahahahahaha. That is also the joke of the day.
Remember, Wall Street is more bullish to start this year than at any time since right before the last collapse. The idiots are right on time.
As we have noted before, the state fears this type of activity because with today’s instantaneous communications, this gives courage, hope and opportunity to achieve dignity to all repressed people around the globe.
Iceland and then Iran were warning signs across the bow. While Iceland was the first, Tunisia will clearly not be the last instance of throwing out political stooges. We have no idea what unexpected events will happen in a cycle of such volatility. If we see revelations that are beyond belief, we could even see mass political resignations in the United States as happened in Iceland. We simply do not know what we do not know. But as time passes and others follow the examples of courage set by others, one thing is certain. We will know more of what we don’t know. And that means even more future volatility as people are enlightened to the fraud, corruption and theft around the world while countless people suffer.
The new age of enlightenment continues.
I love the smell of freedom in the morning….
“Talent is God-given. Be humble. Fame is man-given. Be grateful. Conceit is self-given. Be careful.” -- John Wooden
“The hottest places in hell are reserved for those who in a moral crisis maintain their neutrality. There comes a time when silence is betrayal…..Even when pressed by the demands of inner truth, men do not easily assume the task of opposing their government’s policy, nor does the human spirit move without great difficulty against the apathy of conformist thought of ones own bosom.”
This is one of the greatest and most stirring speeches ever given, anywhere, by one of our greatest leaders - a speech against a government gone mad on war, hate and death against poor in lieu of investment in our citizens and our society who are denied access to society’s capital while the war machine spends endlessly to kill, maim and destroy. Any parallels to today? Evil never changes. Nor do their methods used to manipulate society.
King was a leader who refused to submit to illegitimate and immoral authority but rather sought truth for anyone repressed by the tyranny of economic exploitation, war and racism. And in return many who had no regard for freedom or human dignity were encouraged by the state’s paranoia against him. For that, his life was taken by paranoia, hatred and evil. Sound familiar across any dynamics today? Any public figures you can think of today where the exact same paranoia is encouraged? A communist? Kenyan, anti-colonial worldviews? Not an American citizen? Evil never changes. Nor do their methods used to manipulate society.
“All men are brothers. All men are created equal. Every man is an heir to a legacy of dignity and worth.” Many in positions of authority in business and government clearly do not even remotely reflect these human values whether it is a neoliberal economic model of exploitation and a race to the economic bottom of the barrel or through the lack of social justice and dignity which every American has a right to or denied access to economic opportunity by a for-profit banking system and their twisted manipulation of greedy politicians or authority’s megalomaniacal and morally bankrupt view of their responsibility to humanity or to the shared prosperity and commitment to each other as stated in the Constitution and the Declaration of Independence.
This post is a nice introduction to a lengthy economic post I will get up before the end of the month.
The timing of this announcement is quite perfect. In some ways I believe it was predictable but just a matter of when. Maybe more on that later.
I write about topics of the mind because they are relevant to the times in which we live. Well, and they are much more fascinating and real in their impact of the future than are economic and political analysis. The plutocracy is only able to continue to pilfer, manipulate, force society into bondage and inflict pain & suffering if we allow them. Whether we allow them is determined by the state of our mind.
When it comes to what is possible, the majority of humanity spends their lives trying to bend the spoon. Our view of what is or is not possible is generally determined solely by the sensory inputs into our brain and the false world it creates - each of us manufactures our own reality based on our brain’s interpretation of those inputs. As an example, the mind interprets the world much differently after a childhood experience of abuse or trauma than were it to experience compassion instead. Our mind makes our world real regardless of whether it actually is. And given every view of the world is different, what truly is real?
The ego or the self is capable of creating many realities beyond the physical world including stress, depression, fear, enemies, cancer, heart attacks, war, violence, arrogance, evil, racism, hatred and countless other outcomes. If we strip away the self and its sensory feedback from the world around us, we are left with our core being. Some people may call that our spirit or our consciousness. Our core being is capable of creating art, literature, science, music, compassion, acceptance, community, joy, love, peace and oneness with the world and each other. What does it say about the status quo who, since the beginning of time, is always trying to separate society by banning music or art, or by trying to control science, or trying to divide using tactics of fear about racism or sexual orientation or hatred?
It is no surprise that manifestations of the ego or the self separate humanity while our core being brings people together. That separateness of the self and the torture it creates in our mind is because it has removed us from our natural state or our core being that is part of the community of life. In other words, the battle of heaven and hell exists within our own minds. The separateness of the ego and its darkness creates our own living hell. All manmade drama is a result of the ego or the self gone awry. When we are able to overcome the self, even just for moments at a time, we are able to experience the beauty of who we all are. In that moment we are able to jettison the self and gain a sense of true reality – we are all perfect just as we are, we are in heaven. How different do you feel by serving others? By doing good? By taking the focus away from the self?
ESP is simply a qualitative interpretation of the greater reality that exists when we no longer attempt to bend the spoon – all of humanity and all of life is part of a greater oneness and consciousness. There is no spoon. There is no self. The self or the spoon is simply a manifestation of the mind. Once this is understood, the universe around us gains new perspective and meaning. Our experience with other people and with all of life takes on a completely new reality. A new reality that allows us to escape from our self-induced hell manufactured by the self. That is, there can be no hatred or war or bigotry or any other drama induced by the self because we all share the same consciousness or spirit.
A mind, cluttered by sensory inputs and the associated self-image and image of the world around us, is unable to consider the impossible. The self seeks to interact with the world through the illusion of control. To consider the alternative, that the self truly does not exist, is a threat to the self’s very existence. So our self or ego wages this endless battle versus our core being and that is the human condition from which we all suffer. A mind willing to consider there is a reality well beyond our ego’s manufactured limitations is a mind capable of realizing the impossible may actually be probable – there is no spoon. Are you able to consider there is no spoon? To consider the possibility I described above? Or are you unconsciously consumed by your ego or self image?
Enlightenment involves an awareness to the fact that our supposed “leaders” (often authority masquerading as leadership) in business and politics and often even religion, those who have been telling us all of the lies created in a false world created by their ego, do not represent truth or reality but rather represent the hell that exists within their own mind. A mind consumed by their ego. And the manifestation of that hell is the associated pain and suffering they seek to inflict upon those outside of the self – the self’s manufactured enemy. These people represent lies of the mind. Make no mistake. Because it is a manifestation of the mind, this hell is no less real. It feels like hell for many today and that is a primary reason why equally unstable opportunists are able to profit from terrorizing people with a message that 2012 is the end of the world. Great power, greed and control are achieved by manipulating people and 2012 is no different. There is tremendous profit in this fear-based terrorism. The Mayans do not believe the world is coming to and end in 2012 and there is no ancient text or codex of any religion or civilization that equates this date with the end of the world. More unstable minds seeking power and control. What we are likely to see is the end of the world as we know it. But then we have been stating that for years on here. The battle between good and evil or heaven and hell is in our minds and the representative manifestations of the physical world both creates. That battle is taking place with the status quo or plutocracy as I type this.
Those who seek power and control are truly not leaders. Power and control are manifestations of the self or the ego. Leadership shares no resemblance to authority and power. Leadership is driven by our core being. By virtue. Of creating an example based on moral clarity. Of wishing to do good. Everyone can be a leader. A leader of our family, of the type of world we wish to see - leading by example, of civic and human interests we care about, by demanding a government that leads by example. We all create the world in which we choose to live whether we realize it or not. Do you chose heaven or hell?
I have absolutely no doubt that every human mind has an ability exponentially greater than that of the most brilliant ever to grace our presence. We even see glimpses of this every day with people, often impaired with seemingly genius ability. People who have unlocked what appears to be magic. The human mind is far more than humanity is capable of understanding. Yet our scientific study of the mind remains mired in the false reality of the manufactured world around us and the associated limitations we place upon ourselves.
This topic has motivated me since early childhood. I am of no doubt that we all share a spiritual energy connecting us to one another and to the universe, both known and unknown, around us. To some degree, the world in which we live is a false or limiting reality. It is an illusion created by our mind. Those who scoff and scowl at the notion of ESP or other unknown or misunderstood abilities of the human mind or of consciousness or of our spirituality are living in the prison manufactured by their own ego. By the self. No one is more guilty of this than the scientific medical establishment in their current view of the human brain and our mind.
To a certain extent the bureaucracy of the medical establishment is a keeper of the faith. Of the ideology of what is or is not possible as determined by the limitations of ideological group think and its leadership. Is it any surprise that the status quo considers the possibility of ESP to be an embarrassment and an impossibility? It could be no other way.
As we have remarked countless times, this outcome is preordained. The only way to compete economically in the game of neoliberalism is to go broke or to die trying. How’s that working out for you?
It’s no great irony that the entire world is broke. That is, sans for the corrupt elites and corporations that benefit from this environment. Their time is coming. China is broke. Brazil is broke. Russia is broke. Europe is broke. And the U.S. is broke. Now the race is to see who can dismantle the remaining rule of law, social safety nets and living wages by cutting corporate taxes, raising citizens taxes, firing millions of people, killing currencies and on and on to see who comes out on top. ie, Who will be the least broke. It’s all so pathetic that our politicians are so corrupt that they defend this, the most fraudulent environment the modern world has ever seen.
There is no other possibility without embracing a new economic model. But the status quo will scream and howl because they control the microphone. Countries like Germany, Brazil, China and others will squeal like little pigs. They loved they game when they were benefiting from the wealth transfer scam. But now they will point fingers and blame anyone and everyone who does not play by their rules. And so will the corporatist politicians in Washington and the banksters who control them. They will all howl and use lies that the Great Depression was caused by trade wars – something else we have beaten a few times on here. Trade wars had absolutely nothing to do with the Great Depression. This is a neoliberal lie perpetrated by banksters and their political stooges.
If global politicians will not take responsibility for the mess they created, the world will burn. And of course they won’t take responsibility. Those who seek to control always lay blame at the feet of others. We have a front row seat to the greatest mess the modern world has ever seen – all a result of fraud and corruption. Volatility dead ahead.
I have often done a year end review and an outlook for the following year in past Januarys but that actually requires too much “work”. I have enough work. Let’s put up something a little different this year.
We have been very clear in our expected outcomes over the last five or six years. They were on target in 2008 and they will be on target again when this crisis resumes unless some enormous global enlightenment is achieved by politicians. That is a paradox of near impossibility. Those who seek control never achieve enlightenment. It as impossibility of how the human mind works.
We just keep magnifying this crisis by throwing more money at a failed economic model created by a ruling class of political whores and their pimps in the corporate world. On here we are basically in waiting mode. The only political hope in the U.S. over the next year is that the Tea Party adopts a position of reason, sanity and democracy which would result in an anti-Republican agenda. That involves forming their own caucus. While many Americans sympathize with Tea Party views on the Constitution, corruption and the runaway state, I am dubious that many of the candidates who actually won are of sound mind aka sane. Hope is not a strategy. We The People are the last best hope. It was the people who made this country great and we must restore that greatness from those who took it away.
I have little doubt that 2011 is going to be a very interesting year. In many regards, the April-May 2010 peak still remains the starting point of a new phase of this crisis. Many important global markets peaked then and have not surpassed those values. All rallies since have been on almost no participation. The dynamic we have written about countless times is finally coming to pass – the financial frankenstein and the economic morass they have created has obliterated all counterparties. They have received their wish. They have become king. There are no counterparties left to trade the assets it holds. Wall Street and hedge funds are left batting assets back and forth with most participants on the same side of the trade. All we need is the match to light the fuel. I remain very concerned about the potential for a crash as we wrote a few times late last year. This low volatility environment in financial markets simply is not sustainable as world volatility is actually increasing across a multitude of economic issues as I type this. We wrote on here years before the 2008 collapse that the world would literally shudder and shake when this cycle ends and that we may lose all of the wealth created since 2000. That is now most certainly going to come to pass. Especially outside of the U.S. We ain’t seen nothin like that yet.
Even before the Wikileaks fiasco, I wrote that we are more than likely going to be witness to some revelations about our government that are going to be astounding, if not horrific. I have no idea when and I don’t want to speculate but the intensity of the Wikileaks drama supports a possibility that our government is even more corrupt than we ever imagined. That many people within the political class show a blatant disregard for the rule of law and have called for the outright cold-blooded and criminal murder of Julian Assange may give clues as to the scope of corruption and fear of its exposure. I never could have imagined these types of political statements in the mainstream media in a thousand years. Many within the political class are obviously willing to do or say anything to anyone if it serves their purpose. And when the rule of law has been subverted as it has today, often they do anything to anyone for any reason. For these people, the Constitution is simply something to shit on and our rule of law is something for sale. How many people are already the victims of doing “anything to anyone for any reason” to serve or protect the state’s interests?
I am not making a prediction or remarking of an anticipated outcome, but I would not be surprised were we to see one of two eventualities. Or both. One, public hearings to bring to account what false beliefs created this toxic mess or two, Nuremburg-type trials in the United States for corruption, treason and possibly even war crimes. That would be years from now were that to ever happen. But there is no closure and way forward without understanding the foundational elements and root causes of this crisis. I believe there is substantial evidence the corruption and even treason may be that serious and one must consider this type possibility in any discussion about the future. And I do not make that statement frivolously. There is no other explanation for not only the corruption we see but the outright selling-out of our country, our citizens and our democracy. I obviously hope I am wrong but if there was one revelation that captured my attention over the past few years, it is the intensity and breadth of the political corruption in the United States. Some of it is simply decent people caught in a bad system of false beliefs. Some of it is clearly outright evil in the truest sense of the word. The American people are literally involved in the greatest war this country has ever fought. It is a war for their mind - to save their democratic institutions, their democratic government, their constitution and their self-determination. I have made it very clear who I believe will win that war. To me it is self-evident that truth and reason will win that battle. That is, the American people, regardless of the endless diatribe of yo-yos calling them stupid, sheep, lazy and dumb. We are none of the above and we will eventually rise above the Orwellian blabber as we have time and again.
Elites rely on the people for their wealth because their primary skill is control achieved through lies, deceit, manipulation and other games of power. Elites always overestimate their own abilities as any power-seeking mind does and always underestimate those of the people. Once the game of control is broken during any major social movement in history, the game is up. We saw this in our history with Robber Barons, Women’s Suffrage, Slavery, Equal Rights, Civil Rights and literally dozens of other major issues. The state and elites are always on the wrong side of any major movement and hide behind the lies and deceit of conservatism in an attempt to maintain control. They are the last to understand the rules have changed. Just as they clearly don’t understand this dynamic today and show record levels of exuberance both politically and economically as we start 2011.
The vast number of Americans, regardless of class or race or creed, wish to see a world contained within a rule of law and self-determination. Some have still yet to realize the scope of this crisis. They will eventually find a commonality in seeking a restoration of our guiding democratic principles when they cumulatively realize the fraud perpetuated by the monopoly political parties and their corporate overlords. Many within the political and corporate system have or will eventually join We The People in this drive for change as they finally accept truth and reason. ie, Decent people in a bad system of false beliefs.
On some level, this crisis is necessary for our growth as a nation. In an odd bout of fate, Wall Street and Washington have presented us with a gift in their overt corruption. The awareness and enlightenment of an entire nation would never be possible without this gift of evil. We cannot choose good without first experiencing evil but now we clearly must chose our fate. And that is where we are right now. We are in the process of choosing. Of setting our minds on the right path. Of the hundreds of millions of Americans, how many do you really believe are going to chose evil when presented the choices we see today? Only the handful of crooks who knowingly created and are benefiting from this environment. We clearly have seen this dynamic building for a few decades in poll results and with lack of economic opportunity. Our country has been a cesspool of corruption time and again throughout history. This needs to be put to rest forever. On some level we chose this journey. We created our own path and now that has presented us with the opportunity to create our own destiny.
This crisis is necessary for the broad level of awareness necessary to fulfill our destiny as a free nation for all Americans regardless of education, religion, race, gender or any other personal choices our citizens may make. That is something that has never happened. We have never been that country for everyone. It is a cause that is most noble and worthy of our nation and all people. All people everywhere are deserving of equality and the dignity and respect that goes with it. No man is better than any other regardless of our imperfections. No man deserves “more” equality than another. No one. Ever.
It’s very important to remember not to think with your eyes when it comes to the future of the economy or politics or financial markets either here or elsewhere. The most serious crises have yet to reveal themselves in their full glory. Many will be political as we have said time and again in our volatility posts. And that includes in the U.S. The mob of bears are fascinated with a collapse of the United States, and our problems are serious and our financial markets are in a massive bubble, but our problems are easily fixed as we have written incessantly. They won’t be fixed until the corruption ends. And that may mean substantially more pain ahead. But the greatest economic duress will be outside of the United States. And that the corruption is substantially greater outside of the U.S. will play a major role in the unfolding of that dynamic. Institutions with global reach will be impacted severely and brutally - in a great bout of irony, those who have bribed their way to economic success will be mercilessly punished by the market. Or as we have written numerous times, karma is a bitch.
We’ll start 2011 off with a bang by putting up a jaw-dropping post some time in the next few weeks which will call into question much of what our eyes have been led to believe for a long, long time.