G7 Meet To Quell Fears

We know S & P have downgraded the US to AA+.  This is a big deal for not very complex reasons far too hard for our highly schooled populace to understand.  The US has been bankrupted before by war (Vietnam), refusing to pay Britain £300 million in gold under Nixon (France got it’s gold) when we worried what might happen to the USD.  If the dollar collapses now, we lose the world’d reserve currency and the Yanks lose what has effectively been a free loan from the rest of the world.  The last country put in this position, more or less, was Nazi Germany, which had borrowed its way to re-armament and full employment.

The price of fish question is what the most heavily armed country in the world will do if we pull the plug on its finances.  In years gone by, Britain performed the US role and we have shrunk our military to an irrelevance.  The US could do the same and go to an insular self-sufficiency (protectionism).  The USA is still, whatever happens, a very rich country in terms of agriculture, natural resources and ability.  Only morons could screw it up – but they have plenty of them and the Tea Party.  Bachman sounds enough like Batman for most Republicans to vote for her and I could see her going down the war route.  Who with I’m not sure, but Iran is favourite.  They have her surrounded and under siege – including sanctions on her oil.

While we might see problems in credit because the US Treasury Bond is the root of much of it in the banking system, the worst case is that liquidity will dry up and no one will be able to pay financial bills, margin accounts and so on – this will lead to shares being sold in fire sale conditions and we’ll slump.  If I could wish it so, along with a world-wide revolt against the rich, I would.  The question, sadly, is what interests might want a slump and depression and whether they have been taking positions to benefit from such.  I believe there is a grouping who want to buy up the world on the cheap.  They are as dangerous as any Nazis, fascists and personality-cult communists we have ever seen (all these forms shared the millennial ‘wonder leader will lead us to heaven’ lunacy).  I’m not sure who they are and have no inside information on them.

G7 has no idea of what is going on.  The people there are so far removed from our interests (in the sense of me an my mates down the pub or you and yours) that they couldn’t give a damn – they know we are worthless unless we riot.  The people there would struggle to pass any science A levels and yet pose as intellectual worthies who understand economics and the ‘real world’ – yet would not last long in working communities or fare well in stuff like Army Officer testing if stripped of their ‘identity’.  History, away from hagiography, shows most of these votaries to be useless, self-interested turds (Lloyd George, Teddy Roosevelt, Kinnoch), sociopaths (Hitler, Genghis, Stalin, Mao) or narcissist lunatics (Churchill, Blair, Brown, Thatcher, Cameron, Clinton) and not people safe to leave your daughters with.  So don’t expect anything from them.

The question is whether the hidden groups who want depression and have already bet on it are smarter than G7 types – my guess is this is a non-starter at Ladbrookes.  The standard bets on a crash are in place – countries have been buying and hoarding gold (China, India) and the price per ounce along with silver is way up, land is being bought (often with Enclosure tactics to rid it of economically under-productive people) along with food production and the public sector is under threat of being sold off (suggesting some bastards have been planning to buy it – a strange position for thrusting capitalists to want to take until you look at the oligarchies running the US health care system at vast expense.

The notion of Britain as a safe have because we have done the austerity thing being plied by Vince Cable (once a man of integrity) is bull.  Britain is liable to domino collapse if other countries fail – our banking snouts are in the troughs of debt in Greece, Ireland, the USA, Italy and more – all thanks to pass-the -parcel techniques of re-insurance that were once just a bet with our money we didn’t know about.

Real answers to this problem world-wide include getting rid of the debts through jubilee and redistributing wealth on a large scale so we can invest in self-sustaining forms of work and a guaranteed quality of life.  G7 won’t do any of this.  I’d just ask if you have thought that these grand bodies seem to want us to live in fear.  If we don’t do austerity, then our country will crash.  If we don’t do what the boss says the company will crash.  If we don’t understand these special people need 1000 times more money to motivate them than the rest of us …  we’ve been had.

Why Do We Wealth Distribution Like This?

Breakdown of aggregate wealt: by deciles and components, 2006/08

This is how ONS illustrates who owns Britain’s wealth.  I gave up thinking the world was fair or that I was being told the truth about it as a teenager.  Clearly, the economics that distributes wealth as unevenly as this relies on lots of people stupid enough to think it’s a good idea to let 10% own nearly everything.  Dupes that dumb are unlikely to know any economics, but there are lots of economic reasons why this state of affairs isn’t healthy.

It’s time for real change, or we’ll be off to war.

In the USA, they now spend more than $650 million on their prison system (which is often in private ownership).  This is more than they spend on medicare and medicade – what arsewipes could think that a good idea.  Britain has probably spent more than £30 billion on the wars around Iran (Afghanistan, Pakistan and Iraq) – which is about half the cost of the new high speed train link that might happen between London and Manchester.  The Yanks are probably in for three trillion.

War is coming more likely than you think.  Uncle Sam is as broke as Nazi Germany and for much the same reasons.

Whatever interests lie behind wealth distribution in the chart and through the more complex processes of financial propaganda and war, we should be sorting them out instead of going to war to allow real looting now no one believes in money anymore.  We’re too lazy to take notice.

So we’re off to war.  Where?  Well we’re already at war with Iran.  The Yanks have surrounded Iran as surely as any set of film Injuns the wagon train.  The powerful financial interests don’t care much about where the war happens.

It strikes me that ‘we’ are a pathetic set of know-all teenagers when it comes to wealth distribution.  I didn’t find a single person in three pubs earlier tonight who knew how little of our own country’s wealth most of us don’t own!

We’re going to war.

Tour de Farce

In the last quarter of my life, I just hope the world is really changing.  The promises of childhood seem largely broken, and the world run by criminal bankers and some ‘mechanism’ like Michael Betancourt‘s ‘agnotologic capitalism and the aura of the digital’.  This latter phrase means something like ‘lying spin and insider trading’ to me.  Steve Bennett at thinblueline is on thew case to some fair degree in his book ‘Crime of the Century’.  Terms like ‘agnotologic’ pass most of us by and even as an academic I’m tired of such ways of speaking.  Honesty has rarely (if ever) been the real best policy; yet over my lifetime we have moved further and further away from any possibility of trying to live with the truth, or at least what we might call a ‘communicative’ rather than ‘systemic’ rationality (terms from Jurgen Habermas).  We might be able to live very different lives  if we could recognize and speak with honesty, rather than function through ‘manners’ (I have Norbert Elias in mind here).

One doesn’t have to read Betancourt, Habermas and Elias, or use the kind of language in the paragraph above to understand something is very rotten in the State of Denmark.  Indeed, the academic codes involved in citation do more harm than good these days.  Often, the real code is merely a statement that the writer is educated enough to be harmless, that she has read learned tosh and discovered how to reformulate it in the farcical text engine of small-world academic thieving.  I’m all for a better read world, but we have to shape up and remember a quarter of our people (in countries where education is free and compulsory) can’t read and write well enough to fill in forms.  Insisting on high, unachievable literacy and numeracy as a democratic solution to anything is fatuous, as is dropping standards to pretend we have a properly educated population.  Most people are not fitted to do well in the schooling we provide and pretty much insist on.

I wonder whether schooling could be redefined to ensure a greater recognition that human life is essentially repetitive, and that most of what we think has been thought before, recorded and yet remains well hidden to most individuals undergoing schooling.  Most of us will only learn in the very limited and selfish sense , and only a tiny part of this will be connected with what might be available to us all if education was not so entangled with the freakish madness of our lack of grip on human nature and our enslavement in pretension.   Greek and other traditions of thinking discovered ages back that argument does not produce answers, but rather lots of arguments that need to be worked on.  Pyrrho was a key figure in this kind of skepticism.  I can safely ask most audiences if they have heard of him, safe in the knowledge I could tell them anything I don’t know about him as though expert in the field!

To understand what I’m trying to put forward, I wouldn’t ask people to read up on ancient philosophers.  We have to move away from idiot notions of the philosophers’ stone, or stuff Indiana Jones might unearth.  The place to start is probably with arguments that clash with cosy common sense in our culture.  The Keiser Report is an example I use.  All episodes can be found at –  http://rt.com/programs/keiser-report/ – and it is weird enough to generate other issues about argument that need to be closer to the fore.   One might say the broad message, often shouted by Keiser as though he is mad, is that terrorist bankers have taken over the world and are ass big a threat to us now as when they were funding Nazi Germany to force war upon us for their profit.  These days, they destabilize and manipulate markets through war and super-algorithms.  Goldman-Sachs and JP Thompson replace the term ‘global Jewish finance’.  The big question that should develop in watching alternative propaganda like Max Keiser, or any deep academic reading concerns why we have so little of any of the alternatives in our mainstream.  I wonder, as an academic taken to the road, why I find almost no argument in our mainstream media at all, let alone anything of interest.