To
concentrate on one problem requires ignorance of the rest.
Analysis:
“Democracy,
national sovereignty and global economic integration are mutually
incompatible: we can combine any two of the three, but never have all
three simultaneously” Economist Dani Rodrik
Right
To Wrong:
Exxon, defending itself against lawsuits over its attempts to dismiss
global warming for decades, claims its free speech rights include the
right to lie to the public. You'd think they were politicians, but
they've only bought a bunch of Republicans in the House to take over
this investigation and wrest it from the less
reliable hands at state level before
someone finds Exxon guilty.
Entrails:
Various financial institutions seem to be preparing us for an
economic downturn. In the words or Richard Fisher, former head of
the Dallas Fed, “There will be a correction. Suck it up. Deal with
it. That's reality." The
world's central bankers are doing all they can – through zero
and negative interest rates – to get us to either (1) spend money
to increase demand, or (2) buy stocks to increase capital. And
we're not doing #1 and we don't seem too much inclined to do #2.
What's behind
door number three?
Punt:
French President Hollande, faced with ever more recalcitrant
laborers, has threatened to outlaw labor protests until his “labor
reforms” have been accepted. Until morale improves, the French are
forbidden to have any.
More
Of The Same:
May's housing numbers are out and it's another chorus of “Housing
Starts Flat, Household Incomes
Stagnant At
1995 levels.”
Cribibing
from the BLS jobs report.
Delusions:
Turkey's president Erdoğan says he will build military barracks in
Istanbul's Gezi Park, apparently feeling he now will be able to crush
any opposition to the move and restructure
the country's courts to suit his purposes. He also thinks Turkey
is ready to build its own aircraft
carriers – to confront which enemy is unclear, but Erdoğan
seems capable of finding more than one if necessary. At home his
chief
advisor has proclaimed, "There
is no need for anyone else to engage in politics. Our duty is to
support the leader in this country."
Downward
Spiral:
Immediately
following the carnage in Orlando, Republicans in Congress voted to
continue the NRA sponsored 20 year prohibition against using federal
funds to study gun violence in the US, despite the AMA's new push to
get funding for such research. Obviously Americans
have decided it is far easier to regularly bury the innocent with
a great show of grief and contrition than to address the actual
causes of this uniquely American disease. The problem is not
“radical Islam”, the problem is ignorant, fearful, insecure
Americans.
A
Parting Shot:
1 comment:
Entrails: As the capitalist model continues it's race to the bottom, the economy will continue to 'choke'. As CEO's [paid based on share value] 'churned' their companies workforce to keep it as 'lean' as possible (often sacrificing competence in the process) we found a new workforce with a fraction of the purchasing power of the former one.
But retaining customers isn't part of the CEO's mandate. If the public can no longer afford the company's product, it's time to sell and move on.
Now there are so few, er, customers with 'disposable income' that if your not in a 'basic industry' catering to a captive audience, you can forget any model that relies on capturing more marketshare.
These days if you want more customers, you BUY the competition! [firing their now redundant workforce, thereby shrinking the pool of paying customers even further.]
We have already passed the point where infrastructure projects could improve the failing economy because the 'taxbase' can't afford the improvements. People are already living hand to mouth so CEO's could live 'the good life' by providing shareowners with 'value'.
What these short-sighted idiots are really delivering is a society teetering on the verge of collapse.
Um, pointing out that money is a terrible tool to even attempt to manage a society with is an understatement.
But it is the 'mis-management' of this legal construct that jeopardizes the future of our species. Those who have used money to mismanage 'society' have claimed 'Society' for themselves, the rest of us are a mash of surplus and redundant.
We CAN turn this around but those currently in charge won't like it because their 'privileged' status will be instantly revoked when the laws regarding money are reformed.
Post a Comment