Friday, May 02, 2014

U.S. GDP Likely Turned Negative In 2014 As A Record 92 Million Out Of Work And Nary A Single Polled Economist Predicted It… And Other Timely Economic Remarks

Just a few timely remarks about GDP.   Some how the bureaucrats who pull the levers on this system were very surprised that preliminary GDP was just one tenth of one percent.  (It looks like first quarter’s revised final GDP’s  number will likely be negative.)    A staggering record 92 million Americans are out of the labor force.  And another 92 million don’t have a pot to piss in.   All while Obama and Biden ring up $40 million in vacation tabs.   It appears our modern-day Marie Antoinettes are just as out of touch with reality as the predatory moochers and parasites live large.  Of course, just like every other example of our aristocracy’s socializing losses and privatizing gains, they dump the bill on the tax donkeys.  Or the smaller and smaller class of poor sonofabithes in the middle who get a bigger and bigger screwing from the top and bottom: the unemployed, corporations, the military-industrial complex, the bankers, politicians and America’s aristocracy.  And, just as I wrote many times leading up to the 2008 collapse, again, there is nary a single economist who predicted that the U.S. GDP could possibly shrink this year.   That certainly is not a surprise on here or with many others who see reality.   The housing bubble likely peaked in the middle of last year.  And, let’s be frank.  It is the false king’s capitalist belief that real estate is a form of wealth that has been driving the American economy for a long time.  It was(is) the moneyed aristocracy of the king’s feudal England that did and still thinks that plunder of land (rent extraction) is the basis for wealth.  Those same moneyed interests today in the U.S. hold the same predatory beliefs. 

We saw the same type of groupthink enthusiasm on Wall Street and in the economics community back before the last collapse.   Wall Street and the economics community are institutionalized.  And, I mean that literally.   Their minds are slaves to propped up belief systems.  Belief systems propped up by centralized, hierarchical bureaucracies and the systemic incompetence they create. 

We have essentially had nothing more than a monetary-induced orgy worldwide since the last crash.   Monetarism, which essentially won a Nobel Prize for its unscientific, ex post facto, curve-fitted analysis of what caused the Great Depression, is in the process of terminal failure.   Corporate capitalism and its inherent boom and bust unsustainability of overproduction and overconsumption caused the Great Depression.   It’s the same depression the global economy is in right now.   And, this time the false beliefs of monetarism (institutionalized beliefs) as a savoir of corporate capitalism’s inherent instabilities and contradictions is likely to collapse along with corporate capitalism and the depression it has created.

Right now we see liquidity is draining out of the global economy at an alarming rate.  The powers that be need a new rabbit to be pulled out of the hat.  Russia’s economy is in free fall.  China is far, far larger in crisis than is imaginable.  Japan, Europe and North America are stuck in dying corporate economic systems.  Mergers and acquisitions activity is back to the same horrific nonsense I was writing about before the last collapse.  Housing, which has never actually seen anything more than a temporary monetary-induced bubble reflation in markets desirable to profit-driven investors and capitalist chimps, is now literally crashing again.   By the way, this as ignorant Chinese and Russian buyers lap up American real estate at insane price levels that certainly are not sustainable.  Half of the world’s currencies are distressed or crashing against the dollar.   All of this has been predicted for years on here.  The monetarism wave is now crashing against the shore.  In other words, it has lost what was only a temporary momentum in a failed reflation.  Now we are once again beginning to see the messes that the criminal class of private, for-profit capitalist thugs and their political toadies around the world have created.  

I’m going to switch gears on this topic but extend the discussion.   People really need to recognize that events in the world today are only about one thing.  Who is going to get what and who is going to get screwed in the process.  What nations, peoples and resources will be exploited and looted by which state actors and by the capitalist class.  State actors in Russia, China, Europe and the U.S. each want to exploit other nations for their own self-interest.   There is a very flawed viewpoint out there that poor little ole Russia and China are victims of U.S. policy. 

Since my last post on the topic Russia has participated in the IMF loan discussions with the Ukraine, (ie, They clearly are now part of the global corporate capitalist cabal.)  has tested a new missile system that has obviously been in development for many years and clearly breaks existing nuclear treaties.  And, it has just announced it is essentially seizing the Kuril islands from its dispute with Japan and is building 150 new military facilities on them.  

China’s premiere announced that he wants to see a greater militarization of space.  It has recently been reported that China is spending double what the world thought it was spending on a large military buildup.  (Which, if anyone appreciates that states exist for one reason, violence, these numbers and China’s military ambitions should be taken seriously.  Even if the U.S. wants to use them as propaganda to start a new cold war.)  The Shanghai police are now going to be carrying weapons for the first time in more than half a century because of civil unrest.  And, a few people are starting to wake up to something I have been writing for more than half a dozen years.  That is, China is bankrupt but they just don’t realize it.  Yet.  As I have noted many times over the years, China will either proactively devalue the yuan or watch their system collapse and see the yuan go with it.  There literally is no other way out.  And, either outcome will involve state violence either against Chinese people or the rest of the world through its propped up, predatory mercantilist exploitation. (Remember a trade war with the west is one plausible outcome I have discussed on here for a long time.  China likely needs a catalyst to see its crisis move to the next level and a trade war of its own policy making would be one such possibility.)

And Europe has been once again exposed as providing China with very sensitive weapons technology that has allowed the Chinese to advance the abilities, and thus threats, of their military.   Europe is notorious for this hypocritical behavior just  as they did with Iraq, Iran and other dictatorial Middle East nations over the decades.  I think people need to consider that it may not be the U.S. driving Europe to radicalism, but that it may be more true that Europe is playing a role in the radicalization of U.S. policy.  More on that later.  But, regardless, it is clear that NATO has morphed into a primarily economic organization.  And, Europe is driving much of its policy for self-interested reasons.  NATO has increased as the size of the EU has increased.  Both are used by traditional capitalist European powers as economic tools to loot and pillage.

Yet, the United States is clearly is blamed for everything going on in the world by many.   There certainly is plenty of blame to lay on the U.S. but that is also a very simple-minded argument that doesn’t reflect reality.

As I wrote on here long ago, when the U.S. looked like its empire was going to last forever, and when peace and prosperity was supposedly more prevalent than at any time in modern history, the world was going to turn violent.  What is so simple yet missed by the mainstream is that empire kept a lid on much of the violence we now see.  It kept a lid on the world’s thugs and dictators.  Well, and the wanna be thugs and dictators.  But, as is clearly understood by many, in the process it also suppressed and repressed democracy. 

As empire starts to recede, every thug, criminal and pathology in the world is going to try to make a grab for state control and the power that it wields over humanity.   This is exactly what happened with the Roman Empire.  As the republic was turned into empire, as overreach and corruption replaced a free society,  Rome rotted from within.  Because empire is about one thing.  That is, stealing.  The Roman ruling class looted the public treasury and gorged on excess just as America’s elites do.   This looting of public finances and the associated corruption made it economically less and less possible to defend the far reaches of empire.  So, what happened, all of the thugs the Romans had defeated regrouped and shit happened.   Just like today. 

Yet, people seem willing to cheer for the evil they don’t know in order to defeat the evil they do know.   So, we have many people rooting for Putin and China against the U.S., radical Arab states against Israel and on and on.  All without any thought of what will rise in the place of American empire.   If the people of the world don’t rise up and take back their rightful freedoms, the world could go from bad (American empire) to worse.  (A world full of regional despots, thugs and dictators creating even more misery and suffering for humanity.)  People should be careful what they wish for. 

This same dynamic of trading the evil you know for that which you don’t is at work in western societies as well.  Communism and socialism, left wing radicalism,  and right wing radical nationalism rooted in capitalist fascism have been making somewhat of a new resurgence in Europe and the U.S.   This has generally not filtered into the mainstream psyche in the U.S. until recently.   But in Europe, these movements have been part of the social lexicon for quite a few years. 

I have seen two reasonably familiar faces come out recently in support of state socialism.  The most famous of which is the comedian Lewis Black.  Now, Lewis is one of my favorite comedians, and he is simply expressing his frustration.  But, what we don’t need is that kind of ignorance starting to gain traction.  State socialism is a form of state violence just like capitalism and communism.   Lewis characterized it as forced Christianity.  lol.  Okay.  I don’t care to be forced into anything using the power of the state.  Especially when religion is involved.  It was the theocratic comingling of Catholic, Protestant (state decreed religion) and state controlled feudalism in Europe that drove people to this nation en masse.   We don’t need a repeat of history.

I guess if I have to be forced into some dumbed-down system, I would rather choose supposedly forced Christianity rather than the forced Satanism of free market corporate capitalism.  But the road to hell is paved with good intentions.  Do you really want to live in a state enforced socialistic world where even more rules and regulations limiting your existence are laid down by people like Barack Obama, Nancy Pelosi, Harry Reid, Rahm Emanuel, Billary Clinton,  Joe Biden, Al Gore, Van Jones and Valerie Jarrett?  I think I’d prefer death.  Literally.  You know, the old “Give me liberty or give me death”. 

It’s time for people to wake up.   The state is the source of all mass violence in this world.  And, it is looking more and more like if there is war in Europe, it will be at the hands of Russia rather than the U.S.  Regardless of what is going on behind the scenes in the Ukraine, and no one knows exactly what is actually going on, it is only Russia that likely has the propaganda machine in place that would convince its people of the need for war.   And then garner enough troop support to actually put the boots on the ground to execute it.       

posted by TimingLogic at 12:18 PM

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