Officially, America has near zero inflation and a mere ten percent official unemployment. Odd that it has a mere ten percent unemployment when the proportion of young adult males with jobs has dropped a lot more than ten percent. As with third world and Marxist countries, the government’s reaction to bad news is to declare a new era of prosperity. The recession is officially over. With an unprecedented proportion of …
Tag: collapse
Astroturf
Casting Call: It’s a Bit Part Playing a Concerned Ordinary Citizen Shannon Love found an interesting job listing at website advertising acting jobs: Casting Notice Search Results New Casting Notice Search 1 2 3 4 5 6 7 8 Next 158 Casting Notices found | Posted Date Casting Notice Summary 10/7/2010 PRESIDENT OBAMA TOWN HALL, DC PRESIDENT OBAMA TOWN HALL, DC MTV, BET, and CMT (prods.) are casting the audience …
The cause of the crisis
Roissy wonders why the elites are so stuck on the obviously false idea of literal equality. Understood as a species of Christian belief, it makes sense, because the Christians believe that the most important part of the self is immaterial. If it’s immaterial, then material differences have nothing to do with it. So Christians are free to believe pretty much anything they want about this most important part of the self, unconstrained by material evidence of any sort.
Rigging the vote
Why bother rigging the vote; even the tea party supports unsustainable welfare, affirmative action, social security, and healthcare programs. I fear the vote rigging is merely over who gets the gravy, since the major function of government has become handing out the gravy to true believers.
After mass democracy
A couple of hundred years ago, the conventional wisdom was that democracy with broad voter participation was unstable, violent, ruinous, and short lived. A hundred years or so ago the world moved to mass democracy, universal franchise. Many people predicted that this would result in the masses trying to vote themselves rich, resulting in social and economic collapse Well guess what. The masses have been trying to vote themselves rich, …
How to fix the financial crisis
Proposed reforms, both left and right, are unlikely to have any effect on the continuing massive misappropriation from the financial system. It is absurd that people are discussing obscure details of the credit swap market. To fix the financial crisis, we have to revoke, or at least denounce and denigrate, Marie Curie’s Nobel prize. When they gave a Nobel prize to Marie Curie for being female, that did not hurt …
Yale Harvard and Basel style Free Enterprise
Basel II is tens of thousands of pages of regulations, no one knows how vast it is, because not all the regulations can be found in any one place, but it could all be replaced by two simple rules: Politically correct victim groups shall always find it easy to borrow money, regardless of their ability or intention to pay it back, and politically well connected businesses shall always make money, regardless of whether they are competently run or not.
Where the money went
The government has been shuffling the money around to obfuscate who stole it. It lends money, and then announces that there is no problem, the money has been paid back. But after much fiddling, the money has mostly come to rest, in that the government is now the proud owner of about one trillion dollars of mortgage backed securities guaranteed by Fannie, Freddie, and the FHA, plus some Fannie, Freddy, …
American debt
Thus the excess “private” debt is not private. The normal level of public and “private†debt is about twice GDP, say twenty six trillion, so we are about thirty trillion or so in the hole and getting deeper fast – well past the danger level of twice GDP.
Prospects of hyperinflation
Incumbents that engage in hyperinflation usually gain political benefit in the short run, and the short run is all they care about. The Weimar government was not punished at the polls.