From Jenna Orkin
Quote of the Day:
(China) "Right now, for commercial real estate, there's 30 billion square feet under construction. Not all of that will probably get finished...but to put 30 billion square feet in context, that would be a 5 foot-by-5 foot office cubicle for every man, woman and child in China."
Jim Chanos, short-seller
Economic Collapse
ECB Prepares Legal Ground for Euro Rupture as Greek Crisis Escalates
Interview with Marshall Auerbach on the Eurozone
Greeks Taking Bribes Thwart Papandreou's Efforts to Resolve Debt Crisis
A Global Fiasco Is Brewing in Japan
Roubini: Asset Bubble Is Beginning Now
Global Economy at Risk of Another Recession: Soros
Sixth day of equity losses as risk aversion prevails
The flight to safety is back
Believe it or not, that means the dollar, for the time being. Right now, Greece is the slowest camper.
Dollar breaks above its 200-day moving average
South Korea’s surplus triples
Where's the next crisis?
Geithner Defends AIG Bailout, Denies Any 'Coverup'
Darling to hold secret Davos talks
Top City bankers will seek reassurances from Darling in Davos to head off Obama-style plan
U.K. Government's `Huge' Bank Sales Will Surpass Thatcher's Privatizations
Cheapest Route to Walmart from Asia May Skip Buffett's $34 Billion Railway
Specter of Mortgage Defaults Returns to Haunt Beleaguered Banks in Ireland
One in Five Report Hunger (US)
Obama says he doesn't want to punish U.S. banks
Financial Oligarchs Completely Stunned By Volcker Rules
Fact check: Obama and ‘hatchet’ job
State of Wisconsin Goes Insane With Leverage; Corporate Bond Mad Rush Is On
Hypocrite Bernanke and his Political Pandering; Bernanke Buys Votes
Better government is less government
The New Jim Crow
"Argentina's Defaulted Sovereign Debt: Dealing with the 'Holdouts'," Congressional Research Service
Intelligence/War/Propaganda
Accused Louisiana Co-Conspirator Helped Run Academic Program Funded by US Intelligence
US Military's Haiti "Relief" Ops A Rehearsal For Troop Deployments in Latin America (from Rice Farmer)
Navy Spyplane Tracks Haiti Airdrop
EFF Reveals How Your Digital Fingerprint Makes You Easy to Track
When Scholars Join the Slaughter (from Vantage Point)
US lawyers changed my mind, Goldsmith says
Britain can relax on its bed of nitroglycerine
Poll: Fox News most trusted network among Americans
Planet
Simulated volcanoes and man-made 'sun blocks' can rescue the planet
Saudi Arabia To Use Solar Energy for Desalination Plants
Scientists make plastic without using fossil fuels
James Hansen Touting Nukes
"Honey Bee Colony Collapse Disorder," Congressional Research Service
Snail’s armor could offer human protection
For freeloader birds, careful counting comes in handy
Health
Seniors wait on care, grow sicker as copays rise
Priest shortage leaves faithful alone on sickbeds
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21 comments:
Spending freeze: Prelude to third world status?
Spending Freeze
Fed Power Shrinking?:
IMF Investigation Of US Financial System
I worry about the global economy but I do think everyone will play a lot of ball before there is a collapse. That meaning alot of currencies without any backing playing along until there can no longer be any transportation of money without major loss of value of money. Say like when there is a run on the dollar. That is close if the americas dont get their their act together.
China is trying to get rid of dollars with climate change but ofcourse no one believes it, so it's another bubble.
Woods is the banks. Consumers are still relieable. But reduction of people is good.
Smaller gifts are smaller with less people.
"Obama says he doesn't want to punish U.S. banks"
Is that an overtake bigger than JFK right there?
What The Fuck!!!!!!!!!
The consequences of a globally integrated supply chain are coming into focus for Toyota.
A list of recent articles over at autonews.com
# Recalled vehicles can’t be delivered, regulators say
# Toyota extends safety recall to Europe and China
# GM offers incentive to lure Toyota owners
# Toyota plants ready to receive replacements for faulty pedals
# Toyota dealers brace for sales halt; 'it could be devastating'
# Auction shoppers must be alerted to recalled Toyotas, auction group says
# Retail groups' earnings to be pinched by Toyota shutdown, analyst says
# Unprecedented shutdown hammers Toyota
# ‘A devastating blow' -- Analysts weigh in on Toyota's crisis
# BLOG: If it's not quite the truth, Toyota, what is it?
# DATA TABLE: Toyota Brand Recall
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100128/RETAIL/100129852/1290#ixzz0dwkmSVCT
OregonSurvivor's Fed link talk about "When the final report (IMF Financial Sector Assessment Program) on the risks of the US financial system is released in 2010 -- and it is likely to cause a stir internationally"
Any idea on when this is coming out or has it come out?
Funny quote of the day!:
"The concern about peak oil is behind us," Saudi Aramco executive Khalid al-Falih told a session on energy supplies at the World Economic Forum in Davos.
To Eddie Willers; Thank you for having the courage to speak, especially in a forum that is terrified of any honest and open opposition to the established patriarch.
To Eyeballs:
Instead of "feeding the poor", or "killing them and be done with it"; have you ever considered just allowing them the liberty to live or die of their own accord? Why do so many people have such a need to manage other people's lives? What is the logic used in opposing the removal of all economic regulations (restrictions) and letting individuals either flourish or parish on their own ability? If you find joy in allowing parasites to drain you of your fruits of your productivity, do so and enjoy your liberty to do so privately. However how do you morally justify forcing - by the barrel of a gun, or bars of a prison - all of society to do the same?
I feel remorse for most of the jobless, but not because I refuse to give them a dime beyond what is taken from me by force; but because we as a society have outlawed the jobs that they could otherwise have. Our minimum wage laws do NOT increase wages, they simply outlaw jobs. This society makes it illegal for them to work, and forces those who do have jobs to pay for the survival of the jobless by threat of jail; or death – should you be burdened with an inviolate sense of morality and enough courage to physically defend yourself from this evil.
Your anger and frustrations are tragically misplaced. You are correct that the current system America is using is horrifically corrupt and evil. However free markets have NOTHING to do with that evil! And it saddens me to admit that I think *almost* all hope of it changing is already lost without some serious watering of that withering tree of liberty.
I hope that was rises from the ashes, (or even if it changes *relatively* peacefully) is that this evolution in liberty that the United States was, continues to evolve toward liberty. I think a future iteration of this government should maintain and perhaps clarify many of the original principles that we have now, however it should also constitutionally bar any form of government from having any power to affect or act in the economy whatsoever. Corporations and individuals would have no economic interest in who is elected into office since no office could be used to give that corporation or individual any economic advantage or disadvantage.
And it’s just a little pet idea of mine, but I would like to see a government constitutionally barred from taxing or borrowing in any form. It would be funded entirely by voluntary donations. Don’t like what your government is doing? Don’t fund it! Want to survive a military threat from a hostile nation? Donate! When people value something, even something as relatively frivolous as Wikipedia, they WILL voluntarily fund it to keep it alive. Not out of sacrifice, but out of self interest. A government that is allowed its limited power by the people is not inherently evil, and is absolutely necessary in a society that wishes to rise above the savagery of using tribal warfare as the method of applying force to resolve civil and criminal disputes.
One more point I would like to make. The supply/demand of fossil fuels, overpopulation of the planet, climate change etc. Has nothing to do with whether or not free enterprise is “viable” in the next “paradigm”. Technically; free enterprise is ALWAYS the most efficient means of trade. Philosophically; free enterprise is the ALWAYS the only means of trade that is ethically and morally sound. These ideas are completely separate and apart from any given energy/political/ecological variables.
Banks will be eaten in the Collapse. That's planned to as the wealth transfers. What he's doine is take survival tools away from banks that are still available to Goldman Sachs, et al. I thik either Goldman or Monsanto will be the last corporation standing.
Globalcorp.
MCR
Here comes the food crisis
http://in.reuters.com/article/businessNews/idINIndia-45761320100128
The map couldn't be clearer,that's the bad thing.
Listening to Obama in the state of the union,with all the evidence of collapse staring us in the face,he still keeps speaking like there is going to be some new industrial revolution coming,one side of his face a kiss,the other genocide.
You were sure right on one thing Mike,that the world doesn't want to be saved,I know that I can't help everyone,I have forgiven myself.
A little alaska camping advice,carry bear mace,it is not only effective on bears,but everything else,at 30ft.
For NB Patton:
The idea was mooted some years ago, here in Australia, that come the 30th June (when everyone here puts in their tax returns) that a form be completed by the taxpayer, marking what percentage of their tax they wanted to allocate to the various government departments.
So there would be health, education, defence and so on.
I believe it was never seriously considered because the government bureaucracy, realising that their percentage would be the lowest rated, vetoed the idea.
But the idea I like the most was one I heard in a discussion on ABC Radio. The speaker suggested that instead of 'professional' politicians, once a year, a ballot would be held from all States and regions, to select a government for the following year (a bit like jury service) whereby the entire
population over 21 years of age,
and of sound mind, would be eligible to govern the country
The speaker went on to say, "I can hear you all saying, but we will end up being governed by idiots. My reply to you would be have a look at what we have now in parliament"
New ideas are all out there, we don't have to go on playing the same old tunes. I like to believe that the coming years will see a renaissance based on mutual co-operation and need. Alas, I fear many of us will not be around to participate in what could be, an exciting and challenging time.
At lest we will have to get our arses out of our chairs.
One helluva dandy 24+ hrs string of top-notch FTW thinking & linking commentary going here, guys & gals. Congrats! And now:
Up till this post, the top-post-of-them-all award goes to... Ta Da!... For the Boys, for saying... Ta Da!... "The only peace I have, is no fear of death." And:
The red ribbon goes to the insuperable 2nd place words of Paul, which go: "I have now depressed myself……"
*****
We (R & D) are perfectly aware that there aren't a whole gob of commenters involved in this here FTW thingy that cotton to where RanD is coming from; and that's okay. RanD isn't here to make points or sell books. RanD is here merely to share what RanD knows with RanD's human fellows, male & female alike; whether one gets disjointed over what RanD says notwithstanding. As for those who share RanD's perspective, however, also: Congrats! Rest assured, your futures are interminably secured!
*****
Sebastian Ernst Ronin gets 3rd place ribbon for his Jan. 28, 2010 10:38 AM post, which articulates the whole-of-it, as it will likely very nearly be, during the transitional interim, pretty much as RanD sees it; with but one crucial missing point:
Everything that takes place -- at all times, everywhere -- does so exactly as it's supposed to.
******
Love to all! Particularly the smart ones!
Eddie Willers and NB Patton:
Your analysis ignores the reality of living on a finite planet with shared resources. The collapse is largely a result of free market forces operating a scale that overwhelms the available resources, a situation that is described as the Tragedy of the Commons.
Here is an interesting story link I have found. Looks like Saudi Aramco is selling more Oil to China than the US.
http://www.businessweek.com/news/2010-01-28/saudi-aramco-ceo-says-china-overtakes-u-s-as-largest-customer.html
Free markets are great when they work! However as others pointed out, the wild card that throws a wrench into the "isms" is when the world built by those "isms" faces energy prices that are too high to properly support the economies which require cheap energy to continue growing. We all account for oil rising in price due to shortages based on how world markets operate. This is how the system works. Neverminding any discussion about suppressing numbers or price manipulations. Question: Is there an "ism" that will prevent oil prices from becoming too costly for economic growth to continue expanding?
I think that is the problem about those who argue that MCR's "economics" are wrong. It is wrong if you conclude that the energy required to produce the goods we need to sustain the lifestyle we've created remain manageable. When that energy, i.e. OIL, becomes too high in price than what is needed for economic growth (primarily the $20-$40 range we've seen for so many decades), already struggling consumers and businesses will be punched in the gut financially. If a consumer is paying extra money on gas, extra money on food, extra money on heat, electricity, etc...yet whose wages remain the same, this person is dead in the water in terms of economic growth for the country. Unless they can secure additional money through debt, of course. Or maybe someone can explain how one of the "isms" will prevent this from happening?
Obviously if Peak Oil is false or is 100 years away from happening, the "isms" are still relevant.
LeBro,
The Tragedy of the Commons is incorrect - it is a tool often cited by government to justify intervention into the market economy.
The Tragedy of the Commons is easily defeated by the installation and defense of private property rights. When ownership rights are bestowed and defended there is no need for "public" goods and hence no unnecessary depletion because owners view scarce resources as their source of capital (i.e. their livelihood).
For an example of this, consider why the buffalo went extinct but the cow never did. Stay with me, I do have a point! The reason cows never came within a million miles of extinction is because they were owned, traded, husbanded, and viewed as a lifesource for millions of people. In short, cows were/are capital goods. The buffalo, on the other hand, was not owned and rarely domesticated. Pure buffaloes no longer roam the earth because they were not treated as capital goods and private property rights were never established. Therefore, every incentive existed to kill as many buffalo today as possible because, if you didn't kill them now, someone else would kill it and reap the benefits. The same has never been true of cows.
Every commodity works the same way - establish and respect private property rights and goods are distributed to those who need them the most. Fail to respect private property rights and, well, I guess you can have your Tragedy of the Commons. But beware: the Tragedy is of your own doing.
To Vampiric Acid: In terms of gold, the price of oil has remained stable since we started using it as fuel. I suspect your beef with high prices has more to do with fiat money than scarcity. Measuring commodities in terms of real money (gold) makes much more sense (cents?) than using dollars. Here's a link to gold/oil prices:
http://3.bp.blogspot.com/_Zm4mOgAR2zw/SAekI9tSQHI/AAAAAAAAAFA/XUMtg5WTDpg/s1600-h/oil_price_in_gold.png
To RanD: What? No prize for me? Kidding....
Vampiric Aphid;
Did you bother to read my last post? Laissez-faire/Free enterprise is truly the ABSCENCE of "isms". It is completely independent from all of the things you and your despotic cohorts keep blabbering on about.
LeoBro;
You are incorrect, my analysis does include Hardin. The scenario laid out in Tragedy of the Commons is not a condemnation of free enterprise, it is a condemnation of overpopulation. And personally, I think it is an ignorant condemnation of the inherent nature of life itself. For all life forms must be reproductively efficient to survive, in fact all life on Earth evolves based upon reproductive "fitness". Consequently, if life happens apoun an abundance of usable energy, its population is going to grow proportiante to the amount of energy available, and then decline again when that energy is gone, or until other non energetic ecologic limitations are reached.
*ahem*
NONE OF THIS IS A VARIABLE IN DECIDING WHETHER OR NOT FREE ENTERPRISE IS A "VIABLE" OR PHILOSOPHICALLY SOUND ECONOMIC CONDITION.
Buffalo? Where are you going with this? The buffalo went extinct AFTER the industrialised world settled the land. They lived in perfect harmony, respected as a renewable resource, and lived in the commons, without the existence of private property or land ownership.
Buffalo? Where are you going with this? The buffalo went extinct AFTER the industrialised world settled the land. They lived in perfect harmony, respected as a renewable resource, and lived in the commons, without the existence of private property or land ownership.
STOP now,
There are many books explaining Money/Economy contradicting one another!
This CAN/will go on until doomsday!
About COWS as opposed to Buffalo, there are Buffalo in other parts of the world; used Domestically, & a form of trade.
http://en.wikipedia.org/wiki/Water_Buffalo
The North American Bison; the Bison never "Went Extinct"
"The pre-Columbian population of bison in North America was estimated to be around 60 million. By 1890 the number was reduced to less than 1000. The destruction of the herds was in part a result of a political and economic act. The United States government had the bison killed en masse to destroy the livelihood of Plains Indians (VanGelder, 1982).". FROM-;
http://tinyurl.com/ylo6sj9
"Cows", as you call them can no longer Survive without the intervention of Man, many can not even give Birth without assistance, as things unravel they will be used as a means of control, &/OR killed off by predators "en masse", they need the medication, supplementation, made possible by OIL.
Transportation will become a big issue because they can no longer be moved in "Cattle Drives", their "Legs have been "Breed" off of them, and what Horns they
had are removed, most do not have the "Will" to defend themselves.
"Private Property Rights" be Dammed. I knew Two old Men who worked before "Trade Unions", they talked about the "Goons" employed by the "Establishment", they showed me the scars they bore, one had a crooked Arm, improperly healed after being broken by a "Company Man" for not moving aside fast enough.
"CHAIRMAN: And you will do that if it costs all your property and kills all your employees?
ROCKEFELLER: It is a great principle." from the following Link, so much for "Property Rights"; The Ludlow Massacre"!
http://a4a.mahost.org/ludlow.html
I made a lot of Money by manipulation, or at least the assistance in Program Trading of the Stack Market in the 70's & 80's, when many investors were loosing their shirts. Our education system is rigged to give some of us the Knowledge/RIGHT to take advantage of those who were kept in the dark about how the
System, ANY System, works, first make the information hard to find/understand, and then keep them so distracted that they can be TAKEN!
"After all Workers are just 'Property' to be used and then discarded" as I was once told!
The days of using this Earth and everything/PERSON on it selfishly has to end.
That is what Namaste, or the principle of Amae is about.
That is what changing how Money works is about, the old way has to DIE, start thinking NEW thoughts, those outside the BOX of the System that Controls, and has controlled us all.
agape wins;
I have listened to you for a couple years now, and studied your words carefully. I find your "STOP Now" comment the worst thought on this page. I may be speaking for myself here but suggesting that people shut up will instantly get you on my bad side. Furthermore I find your moral premise to be that of parasitic death.
As long as I live, there will be a selfish, confident, honest, productive person on this planet, and I do not feel one iota of guilt for it. On the contrary I have great pride in what ability I have. The help I give to others is always out of self interest, and never out of sacrifice (save for taxes, that is taken by force).
Namaste and Amae are not the enablers of human life; reason and logic are, try them out sometime.
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