tag:blogger.com,1999:blog-4921988708619968880.post8872532759045541153..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: March 31 2009 1: OooommmmmmmmmIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger50125tag:blogger.com,1999:blog-4921988708619968880.post-48728736528788406752009-04-01T12:48:00.000-04:002009-04-01T12:48:00.000-04:00I was listening to Max Keiser's tweetcast 7 (min 4...I was listening to Max Keiser's tweetcast 7 (min 4:20) and he distilled a bunch of thoughts I've been trying to condense about what is global finance built on right now.<BR/><BR/>Here's the gist.<BR/><BR/>The world banking system runs on a fiat currency system which is not backed up by anything tangible, like gold or wheat or oil, but by 'Fiat', a random assignment of value by the host governmentAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-12482877002543042992009-04-01T12:08:00.000-04:002009-04-01T12:08:00.000-04:00“It would be easy to think that life for all those...“It would be easy to think that life for all those “financial engineers”, the bankers focused on default probabilities and credit ratings arbitrage who were crucial to the boom in mortgage bonds and other structured niceties, was over – professionally at least.<BR/><BR/>However, for some the job is busier than ever – and their work is a big part of the bump in first-quarter revenues in the debt Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-67171616864794595112009-04-01T11:53:00.000-04:002009-04-01T11:53:00.000-04:00Mugabe- there's yet another aspect to economic gro...Mugabe- there's yet another aspect to economic growth, which I have not seen mentioned anywhere. Perhaps it's actually my observation?<BR/><BR/>"Growth", defined as an increase in the returns on an enterprise- makes it much much easier- to steal.<BR/><BR/>Say you have a very small tin-mining operation; a mine owner, and 10 employees.<BR/><BR/>When it starts up, the owner says "look, we're all inGreenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-91494679977061388572009-04-01T11:30:00.000-04:002009-04-01T11:30:00.000-04:00"But any long view reminds us that regimes have bl..."But any long view reminds us that regimes have blown up and been replaced countless times in history and life goes on (for the survivors, who are usually a substantial majority"<BR/><BR/>That might have been true for the most part in history until now.<BR/><BR/>History is moving much faster than it ever has, it's velocity has increased by magnitudes.<BR/><BR/>Napoleon's army's moved at the same Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-49793643113807911942009-04-01T11:18:00.000-04:002009-04-01T11:18:00.000-04:00"MS. WHITNEY: There's nothing more important to th..."MS. WHITNEY: There's nothing more important to that global economy, global market, than the U.S. consumer. We have got to focus on getting the U.S. consumer liquidity, empowering the U.S. consumers, small business, the local businesses, to grow."<BR/><BR/>Well, rats. Major disappointment there. Lordy, Friedman is more enlightened now. He's changing his thinking anyway- this is "all we have toGreenpahttps://www.blogger.com/profile/17224906349154302210noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-83822545754800790592009-04-01T11:14:00.000-04:002009-04-01T11:14:00.000-04:00Much has been written about drug money being laund...Much has been written about drug money being laundered in our community. Some estimates have it as high as $500 billion per year. In fact most of our bull market that started in 1981/1982 coincided with a boom in recreational cocaine use. There was a famous photograph in 1998 or 1999 I remember of Dick Grasso and company making a personal appearance at a Columbian F.A.R.C rebel compound Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-15858294232861136052009-04-01T10:41:00.000-04:002009-04-01T10:41:00.000-04:00"Loonie Moonie Doomies" - love it! That fits this ..."Loonie Moonie Doomies" - love it! That fits this blog community to a tee!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-61757680349642370232009-04-01T10:17:00.000-04:002009-04-01T10:17:00.000-04:00Ilargi has joked in the past about creating a reli...Ilargi has joked in the past about creating a religion, and it seems like TAE followers increasingly don’t get the joke, or maybe it’s not a joke. Since Ilargi means moon , followers could be called moonies. Or since he is Canadian, loonies. Or following Dan, doomies. I will call them LMDs for short. I wasn’t sure what to make of Ilargi’s deadpan earnest, or tounge-in-cheek, or something Mugabenoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-45509574508135548802009-04-01T09:46:00.000-04:002009-04-01T09:46:00.000-04:00so... CHAOS...I'm a slow crasher. What does a real...so... CHAOS...<BR/><BR/>I'm a slow crasher. What does a realist say?<BR/><BR/>RE:<BR/>"or just a realist (hi Todd!). Welcome to the red pill...Hombrehttps://www.blogger.com/profile/12930734368916487826noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58723776568653510432009-04-01T09:31:00.000-04:002009-04-01T09:31:00.000-04:00Ah, it's so nice to welcome many newcomers to the ...Ah, it's so nice to welcome many newcomers to the "doomer" camp. Those of use who've been up to speed on peak oil through The Oil Drum are well versed in the vernacular, most particularly, @ Anon 9:12, the vast discrepancy between what needs to be done and what is or will be done. It is precisely that gap that leads one to describe oneself as a fast crash (Starcade), slow crash (a bunch of peopleChaoshttps://www.blogger.com/profile/14511045883879753073noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60915844896043508532009-04-01T09:12:00.000-04:002009-04-01T09:12:00.000-04:00Karl Denninger has a very concise, well stated and...Karl Denninger has a very concise, well stated and factual report this morning (4/1). One of his better commentaries that I have read. I would encourage people to look at what he says needs to be done and what will probably not be done due to the perceived sense of control that the powers that be think they have. JohnAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-16305504558802494142009-04-01T03:37:00.000-04:002009-04-01T03:37:00.000-04:00That French economist apologist windbag, god... di...That French economist apologist windbag, god... disgusting.<BR/><BR/><I>Zere eez no poblem wiz zee bang-airs! Zee poblem is wiz zee regulators, zee regulashuns! Zee poor bang-airs zey need zer mool-ti-millyon dolar bonusaes to be pro-duc-teev! Eff zey do not haf zeez mah-nee dolars dey cannot be expectaed to work veree 'ard, no?<BR/><BR/>Ah do not accept zeez waerdz like zee fraud aen zee ccpohttp://aperfectstormcometh.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-74544094294024669482009-04-01T01:42:00.000-04:002009-04-01T01:42:00.000-04:00It must be understood that the United States is no...It must be understood that the United States is not a free market system, but a hybrid of advanced utopian models, some of them basically Soviet.Pennhttps://www.blogger.com/profile/15708171159556556875noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-65403812777036104422009-04-01T01:39:00.000-04:002009-04-01T01:39:00.000-04:00I just love the fact that a former defense contrac...I just love the fact that a former defense contractor has been put in charge of GM. Remember when Detroit ran the war effort in WWII? <BR/><BR/>WWIII, baby. That's all you need for an economic recovery. Let's skip the New Deal half-measures and get straight to the meat and bones.Pennhttps://www.blogger.com/profile/15708171159556556875noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69743076911966587752009-04-01T00:55:00.000-04:002009-04-01T00:55:00.000-04:00Good question ShibblyHere is bit of something from...Good question Shibbly<BR/><BR/>Here is bit of something from a while ago:<BR/><BR/><I>The Bank of Canada's <A HREF="http://network.nationalpost.com/np/blogs/fpcomment/archive/2008/12/03/the-bank-of-canada-s-mystery-assets.aspx" REL="nofollow">mystery assets</A></I><BR/><BR/>I too would like more information particularly on how stable the banks really are and not just stuff from that horses ass, Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80616184461699026982009-03-31T22:22:00.000-04:002009-03-31T22:22:00.000-04:00I don't know about that saner thing El G. My modus...I don't know about that saner thing El G. My modus over 30 years in the Caribbean has been to be honest and up front about my insanity. My associates {mostly construction workers} know me as El Loco. If you ever check up on me you'll discover that right away. Yet, I much prefer to be taken for crazy {perhaps in the lupine sense} and avoided by the<BR/>garden variety problem boys we have in our RCnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-69296654713475216162009-03-31T22:02:00.000-04:002009-03-31T22:02:00.000-04:00Question Re: The Internationl Monetary Fund - it ...Question Re: The Internationl Monetary Fund - it makes no sense to me, it's just a big debt circle.<BR/><BR/>Many news articles are confidently reporting that the IMF will receive as much as $500 billion from the G20 nations. I assume this money is intended to bailout debtor nations that are on the verge of defaulting on their sovereign bonds. My basic question is: Where in the world are the Erin Winthropehttps://www.blogger.com/profile/17535747338165517395noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-46222219357441038592009-03-31T21:39:00.000-04:002009-03-31T21:39:00.000-04:00Kunstler's latest post is utterly, utterly bri...Kunstler's latest post is utterly, utterly brilliant, focused, poised, acerbic, and directly to the point.<BR/><BR/>It is as if there was an offspring of Illargi & Stoneleigh that was melded to Orlov, and given DNA transfer inputs from Mish, Denninger, and Durden.<BR/><BR/>When he's on his game, nobody is better on the face of the earth for Doomer Synthesis than Kunstler. However, he Ventriloquisthttps://www.blogger.com/profile/17710882943614273994noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-16669943106337191482009-03-31T21:30:00.000-04:002009-03-31T21:30:00.000-04:00el gallinazoAs I said, you're an odd duck. You un...el gallinazo<BR/>As I said, you're an odd duck. You understand the issues. Oh, and a 9mm won't cut it, they'll want an assault rifle for intimidation. The entitlement mentality is lethal, and the criminals blind, live rounds barely stopped store raids after Hugo. I still have roots and visit, but no real-time. Glad you have a plan. Why Peru?<BR/>Cold CamelAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31045653239099561132009-03-31T21:29:00.000-04:002009-03-31T21:29:00.000-04:00Most Americans envision growth as onward and upwar...Most Americans envision growth as onward and upward: the rat race children of Manifest Destiny marching on to the next affluent subdivision. I understand Dan W was speaking to economic growth as we have known it, but planting the assertion that growth is dead only serves to harvest a semantically derived imagery which defeats the greater message. An assertion which the greater human tendency Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-47932951123669378592009-03-31T21:00:00.000-04:002009-03-31T21:00:00.000-04:00@ el GThough that French professor blowhard moron ...@ el G<BR/><BR/><I>Though that French professor blowhard moron did wince when Keiser reminded him how the guillotine got it's first market promotion.</I><BR/><BR/>France's greatest contribution to mass execution will not be the endpiece of choice for the American public.<BR/><BR/>The Bread and Circus will require two, and only two, things . . .<BR/><BR/>(1) A fine, worthy, Network Television Ventriloquisthttps://www.blogger.com/profile/17710882943614273994noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-87574041239417359472009-03-31T20:15:00.000-04:002009-03-31T20:15:00.000-04:00I've heard that 'Bush the Least' was described as ...I've heard that 'Bush the Least' was described as a monkey in a man suit.<BR/><BR/>The Criminal Class in general are more like venomous lizards in human suits.<BR/><BR/>As far as creepy Larry Summers goes...<BR/><BR/>his persona brings to mind that line in the movie 'Sleepy Hollow' where Johnny Depp's character barely escapes the headless horseman's axe in the windmill. Depp's little band is Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53276188795219574952009-03-31T19:59:00.000-04:002009-03-31T19:59:00.000-04:00Summers is a two bit hoodlum, he takes his queue f...Summers is a two bit hoodlum, he takes his queue for personal dress, appearance and speech from old mobster movies. Must have absorbed too many 'role models' at a delicate age, it shows. He's a mook in a monkey suit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-42833812944874597012009-03-31T19:36:00.000-04:002009-03-31T19:36:00.000-04:00Oh the fears and impulsive actions of youth! When ...Oh the fears and impulsive actions of youth! When you find yourself lost--don't panic--stop and build a fire! Relax.<BR/><BR/>Yes, it's all coming apart, but it will be stretched out and likely will be a semi-controlled collapse. <BR/><BR/>Just stay awake and aware, prepare in the ways that appear appropriate, Think and act with reserve and great care. Intelligence will survive over brashness.<BRHombrehttps://www.blogger.com/profile/12930734368916487826noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-73459793956608102222009-03-31T18:32:00.000-04:002009-03-31T18:32:00.000-04:00I have to agree with Centaire, states with no inco...I have to agree with Centaire, states with no income tax--such as Texas--will look more and more attractive to people in states such as California.<BR/><BR/>BTW,I noticed that some comments from yesterday are missing.Anonymousnoreply@blogger.com