Friday, February 10, 2017
White La. Judge Banned From Local Restaurant After Reportedly Calling Black Patron ‘Fat N--ger’."
Associated Press via Los Angeles Times: "Judge Likes Defendants to Write Their Wrongs." "One way to right a wrong is to write a lot, a judge believes. ... [District Judge Mike Erwin] ...said he hopes forcing defendants to write about their crimes will make them think about what they have done."
Maybe someone should make him write 10,000 times, "I will not spew racial slurs at people."
Wednesday, February 08, 2017
Sunday, February 05, 2017
Coozledad vs. Nancy Nall
Sometime in December 2015, inexplicably, the scrappiest commenter at NancyNall quit. No one administered lyrical backhands and clapbacks quite like coozledad, and his absence was glaring. Was he busy? What happened? As time went by, he would post at his own blog, so... . A few months ago, he revealed why he stopped.
This and the election have steeled him.
Rurritable: "Sure. Go ahead and kiss Milo’s ass, Nallurds."
NancyNall.com: "Trolled."
How many people are upset about the violence in Berkeley last night? For the record, I disapprove. Violence is only the answer when it’s Richard Spencer taking a … nope, not even then. That was a sucker punch, and sucker punches are cowardly. Call him out, tell him to put his hands up, and then punch him. Not upsetting.
Coozledad swiftly weighed in:
So it’s ok to shoot blacks and scream at them to BE QUIET! when they complain about it, but not Ok to punch white trash. This is the kind of crap that has made me lose faith that Americans have any idea of history or basic decency. White, midwestern Americans anyway.
Max Blumenthal and Trump
Can't wait to see liberal pundits pretend to be offended by the last three lines. pic.twitter.com/DHmxaPOAaI
— Max Blumenthal (@MaxBlumenthal) February 5, 2017
America is one of the world's great exporters of atrocities. If you're too infantile to admit that, you don't understand why Trump is prez.
— Max Blumenthal (@MaxBlumenthal) February 5, 2017
Trump and Trumpism is the blowback from decades of American carnage exacted on the global south. Our cruel invasions & proxy wars came home.
— Max Blumenthal (@MaxBlumenthal) February 5, 2017
American exceptionalism - an ideology drawn from Manifest Destiny invoked to justify the deaths of millions across the globe - is dead.
— Max Blumenthal (@MaxBlumenthal) February 5, 2017
No foreign conflict or international incident can postpone our inevitable confrontation with ourselves. Our wars are home now.
— Max Blumenthal (@MaxBlumenthal) February 5, 2017
Friday, February 03, 2017
Kunstler:"The Purpose of Decadence and the Pleasures of Coercion."
Kunstler:"The Purpose of Decadence and the Pleasures of Coercion."
I guess you’ve noticed by now that the center didn’t hold. Instead of a secure platform for political premises like tradition, precedent, rationality, and cultural norms, you see a fiery maw of sheer emotion between the camps of the so-called Left and the so-called Right.
I say so-called because the campus Left and the Trump Right have escaped the categorical corrals they formerly occupied. And they may have left their customary official parties stranded and dying too. It may be fatuous to say whether that is a good or bad thing; it just is, for the moment. They are two halves of a polity so broken and so far apart that it is also hard to see how they might ever come back together into a consensus about how a society might operate successfully.
Not having a consensus — some substantial overlap between circles of perspective — it’s not surprising that America can’t construct a coherent view of what is happening, or make a plan for what to do about it. Mainly what’s happening is the running down of fossil fuel based techno-industrial economies, and the main symptom is falling standards of living, with fading prospects for future happiness and security.
As I’ve said before, our economic picture is basically untenable due to the falling energy-return-on-investment of the crucial oil supply (shout-out to Steve St. Angelo). At the high point of 1920s oil production the ratio was around 100-1. The shale oil “miracle” is good for about 5-1. The aggregate of all oil these days is under 30-1. Below that number, you’ve got to shed some activities in our complex economy (or they just get too expensive to support) — things like high-paying labor jobs, medical care, tourism, college, commuting, heating 2500 square foot homes…). Oddly the way it’s actually working out is that America is simply shedding its whole middle class and all its accustomed habits and luxuries. At least that’s how it adds up in effect. Naturally, that produces a lot of bad feeling.
President Trump is unlikely to be able to fix that essential problem, unless he can pilot the whole political-economy into a glide-path leading toward neo-medievalism — what I call the World Made By Hand. Trump’s call for restoring the factory economy of 1962 is a low-percentage prospect. Instead, he’ll be saddled with the collateral damage caused by the dishonest effort of his recent predecessors to borrow from the future to pay for the way we live now — that is, racking up debt. This mighty debt-load, never before seen in history, and the accounting fraud that enables it, has helped produce all kinds of distortions, perversities, and fragilities in our money system (finance and banking) which can easily slip into collapse if a crucial prop fails here or there, and that is exactly what I think will happen under Trump. It will not be his fault, but he’ll get blamed for it. And when it happens, he won’t be able to give his attention to anything but that.
In the meantime, society shows all the symptoms of this literal economic disease in the political and cultural fissures of the day. The political Right failed in its role as prudent conservator of values, resources, and practical custom; the political Left has taken refuge in sentimental fantasy, using the semantic ploys of the graduate school seminars to pretend that reality is whatever they wish it to be. Uncomfortable with the age-old tensions of sexuality? Then pretend that you can opt out of the dynamics of biology by declaring yourself “non-binary,” a term with a pleasing science-y flavor. Tensions gone? Not really. You’ve only made them worse as, for instance, expressed in “non-binary” suicide rates. The perversities of transsexual triumphalism are related directly to the falsehoods of Federal Reserve trans-monetarist triumphalism, and all parties are subject to the matrix of racketeering that has taken the place of plain dealing in goods, money, and ideas in this society — especially ideas grounded in reality.
Societies may not exactly be organisms with intentions, but they move in a particular direction because they are emergent phenomena. That is, they are self-organizing according to the circumstances and forces they are subject to at a certain time and place in history. Decadence is specifically the decay of social and cultural boundaries, a process that is manifestly accelerating now. Both sides of the political spectrum are acting out this dynamic, with the vacuum in the middle sucking vitality out of each side. The Left has become a kind of pagan religion of sacred victims and victimhood, collecting sacred injuries and martyrs. Its dark secret, though, is that these sacred things are only straw-dogs and wicker-men. The real animating motive for the Left these days is simply the pleasure of coercion, of exercising the power to punish their adversaries and watch them suffer.
The Trump Right also enjoys the writhings and sufferings of its adversaries, squashed bug style, as it goes forth in the quixotic battle to bring back 1962 at all costs. Both the Left and the right show not a little sadism in their methods. In the background of these histrionics, the great groaning machine of Modernity lurches toward collapse — not the end-of-the-world as many foolishly imagine, but the end of a phase of history when things that used to work, don’t. At a certain point, we’ll have to try other ways of being with each other on this planet, and then for a while things will come together again.
Thursday, February 02, 2017
Future Justin?

THIS! πππππ
Tuesday, January 31, 2017
Gaither Vocal Band, "Better Together."
From the album of the same title, nominated this year for the Best Roots Gospel Grammy Award.
Laurie Lewis & The Right Hands, The Hazel and Alice Sessions.
Nominated this year for the Best Bluegrass Album Grammy Award.
Laurie Lewis & The Right Hands
Fantastic Negrito, The Last Days of Oakland
Nominated this year for the Best Contemporary Blues Album Grammy Award.
"C'est L’amour Qui M’a SΓ©duit le Coeur", Kelli Jones-Savoy and Megan Brown.
From the album I Wanna Sing Right: Rediscovering Lomax In The Evangeline Country (Valcour Records), nominated this year for the Best Regional Roots Music Album Grammy Award.
Monday, January 30, 2017
Ilind.net: Some Honolulu Restaurant History
Kunstler, Twice as Nice
Sunday, January 29, 2017
Just for the record, Tulsi Gabbard is a self-promoting idiot who needs to be booted out of the Democratic Party.
— TBogg (@tbogg) January 26, 2017
Saturday, January 28, 2017
https://twitter.com/internetarchive/status/824153392679452672
Save Pages to the Wayback as you surf in Chrome with the new release of our extension: https://t.co/D5uShpy6vA pic.twitter.com/pCQYCei1qe
— Internet Archive (@internetarchive) January 25, 2017
If you want an easy way to save web pages to wayback while you surf, you can also use @Wikipedia bookmarklet, here: https://t.co/GXnPdVnJjF pic.twitter.com/EgjaSM8KEH
— Internet Archive (@internetarchive) January 25, 2017
End of Term Presidential Term 2016 project.
Wednesday, January 25, 2017
Monday, January 23, 2017
Kunstler: He Is Risen...But For How Long.
Kunstler: He Is Risen...But For How Long.
Trump was correct that the ruins of industry stand like tombstones on the landscape. The reality may be that an industrial economy is a one-shot deal. When it’s gone, it’s over. Even assuming the money exists to rebuild the factories of the 20th century, how would things be produced in them? By robotics or by brawny men paid $15-an-hour? If it’s robotics, who will the customers be? If it’s low-wage workers, how are they going to pay for the cars and washing machines? If the brawny men are paid $40 an hour, how would we sell our cars and washing machines in foreign markets that pay their workers the equivalent of $1.50 an hour. How can American industry stay afloat with no export market? If we don’t let foreign products into the US, how will Americans buy cars that are far more costly to make here than the products we’ve been getting? There’s no indication that Trump and his people have thought through any of this.
Trump can pull out the stops (literally, the regulations) to promote oil production, but he can’t alter the declining energy return on investment that is bringing down the curtain on industrial society. In fact, pumping more oil now at all costs will only hasten the decline of affordable oil. His oft-stated wish to simply “take” the oil from Middle Eastern countries would probably lead to sabotage of their oil infrastructure and the cruel death of millions. He would do better to prepare Americans for the project of de-suburbanizing the nation, but I doubt that the concept has ever entered his mind.
The problems with Obamacare, and so-called health care generally, are burdened with so many layers of arrant racketeering that the system may only be fixable if it is destroyed in its current form — the overgrown centralized hospitals, the overpaid insurance and hospital executives, the sore-beset physicians carrying six-figure college-and-med-school loans, the incomprehensible and extortionate pricing system for care, the cruel and insulting bureaucratic barriers to obtain care, the disgraceful behavior of the pharmaceutical companies, all add up to something no less than a colossal hostage racket, robbing and swindling people at their most vulnerable. So far, nobody has advanced a coherent plan for changing it. Loosing the Department of Justice to prosecute the medical racketeers directly would be a good start. Overcharging and defrauding sick people ought to be a criminal act. But don’t expect that to happen in a culture where anything goes and nothing matters. A financial crisis could be the trigger for ending the massive medical grift machine. Then what? Back to locally organized clinic-scale medicine… if we should be so lucky.
...
Do you suppose Trump is going to improve? That was the hope after the election: that he’d take on some POTUS polish. No, what you see is what you get. I can only imagine that what’s going on behind the scenes in various halls of power would make a Matt Damon Bourne movie look like a sensitivity training session — grave professional men and women on all fours with their hair on fire howling into the acoustical ceiling tiles.
Saturday, January 21, 2017
Friday, January 20, 2017
Tuesday, January 17, 2017
Barbara Weathers, "Some Things Are Worth the Wait."
The Akebono Project
More to come.
18 January update: A Facebook video of the scene taken 16 January.
16 January 2017, Hawaii Tribune-Herald: "Update: Akebono Theater, Luquin’s Both Gutted by Fire."
17 January 2017, Damon Tucker. "Foul Play NOT SUSPECTED in Pahoa Fire – Police Seeking Witnesses."
28 January update: 28 January 2017, Hawaii Tribune-Herald:"Taking Back Pahoa: Fire Spurs Community to Improve Puna Town."
Monday, January 16, 2017
Kunstler: The Cheeto Cometh.
Kunstler: The Cheeto Cometh.
Perhaps it befits this particular Deep State to go down in the manner of an opΓ©ra bouffe. History repeats itself, first as tragedy, then as farce, old Karl Marx observed. What does the Union stand for this time? The rights of former SEC employees to sell their services to CitiBank? The rights of competing pharma companies to jack the price of insulin up from $20 to $250 a vial? The rights of DIA subcontractors to sell Semtex plastic explosives to the “moderate” jihadis of the Middle East?
So the theme of the moment is that Donald Trump is a bigger crook than the servants and vassals of the Deep State. He ran for president so he could sell more steaks and whiskey under the Trump brand. He’s in violation of the emoluments clause in the constitution. Well, I’m not aware that George Washington, Thomas Jefferson, James Madison, or Andrew Jackson put their slaves in a blind trust after they became president. Anyway, at this point in our history, nobody can beat the Deep State for financial turpitude, certainly not a single real estate and hotel magnate.
I guess the big question is whether the Deep State — and, yes, Virginia, the Deep State does exist, unlike Santa Claus — will tear the country apart in the attempt to defend all its ill-gotten perquisites and privileges. The public at large is restive, eager to get on with the job of deconstructing the matrix of racketeering that adds up to the immiserating culture we live in, a society where health insurance company presidents make $40 million a year while ordinary people lose their homes because a $5,000-deductible health insurance policy doesn’t cover the cost of treating a routine tonsillectomy.
Saturday, January 14, 2017
Wednesday, January 11, 2017
Unrepentant to the End
Nazi war criminal Alois Brunner, who was responsible for the deaths of an estimated 130,000 Jews, died in 2001 at the age of 89, locked up in a squalid Damascus basement, a French magazine reported Wednesday.
He was unrepentant to the end.
In a short telephone interview in 1987 Brunner is alleged to have told the Chicago Sun-Times that he didn't regret his part in the Holocaust. "All of them deserved to die because they were the devil's agents and human garbage. I have no regrets and I would do it again."
"Le Nazi de Damas," from XXI magazine. (In French.)
As was Dylann [sic] Roof, now sentenced to death.
ABC News: "Charleston Victim's Mother Tells Dylann Roof: 'I Forgive You'."
Saturday, January 07, 2017
Kunstler's Forecast 2017: The Third Excerpt
Kunstler's full column.
The reason the Middle East and North Africa are melting down most conspicuously is because they are geographically among the places least well endowed for supporting the swollen populations they acquired over the past two hundred years. Iraq, Syria, the whole Arabian peninsula. Egypt, Libya, et. al. are all deserts artificially supported by the perquisites of Modernity: cheap energy, fertilizers made from that, irrigation, money derived from it, and continuing life-support subsidies from even wealthier modern nations outside the region. In recent years that life-support has flipped into deadly violence imposed from both within and without, as homegrown Sunni ad Shiite vie for supremacy and their puppeteers in the First World rush in with bombers, rockets, and small arms to “help.”
Iraq and Libya were already goners in 2016. They’ll never be politically stable again in the modern sense. Egypt is still headed down the drain despite the grip of General al-Sisi and his army. In all these places the “youth bulge” has no prospects for earning a living or supporting a family. The young men, especially, put their energy into Jihad, revolution, and civil war because there’s nothing else to do. Making war may be thrilling, but it won’t lead to a better future because those benefits of Modernity are running out and there’s nothing to replace them.
Syria is the current goner-du-jour. Whatever it ends up being, either under Assad or someone else, it will not be stable the way it was. The USA ended up arming and funding the Sunni Salafist “bad guys” there because they opposed Shiite Iran and its regional proxy Hezbollah plus Assad. Russia eventually came in on that side on the theory that another failed state is not in the world’s interests. President Obama blinked after he drew his infamous “line in the sand” years ago and now America is too spooked to act directly. In fact, the Russians and Assad have the best chance of restoring a semblance of order, but America’s support for the “moderate” Salafists will necessarily keep undermining that. In the meantime, all this activity has sparked a demographic emergency as refugees flee the country for Europe and elsewhere, creating greater tensions where they land. Trump could stop the flow of US arms to our favored maniacs in Syria. He may see the practical benefit of letting Russia be the policeman on the beat there, and maybe he can sort out the underlying competing interest between the Russian-sponsored gas pipeline proposed to cross Syria and the American-sponsored one — a dynamic underlying all the mayhem there — and make some kind of “deal.” Or maybe he’ll just fuck it up even more.
The situation will grow increasingly acute in Saudi Arabia, where population growth outstrips the ability of oil production to pay for it. Their old “elephant” oil fields are aging out and they know quite well that they cannot depend on oil wealth many decades ahead. The trouble is, they have no realistic replacement for it, despite noises about creating other industries. The truth is, the country was cursed by its oil. It grew its population too much too fast in one of the most inhospitable corners of the globe, and it will take only a modest decline in oil income to destabilize the place altogether. To buffer that, Saudi leaders plan an IPO for shares in Saudi Aramaco — which was originally composed of American and western oil companies nationalized decades ago. That may get them a few hundred billion or so in walking-around money that won’t last very long considering that just about everybody in the nation is on the dole.
The big news in that corner of the world last year was the collapse of Yemen, which occupies a big slab on Saudi Arabia’s southern border. That poor-ass country is the latest Middle East basket-case and Saudi military operations there continue to date, using airplanes and weapons supplied by Uncle Sam — just another case of feeding Jihadist wrath.
Make no mistake — as our Presidents like to say — all these countries are heading back to the Middle Ages economically, maybe even further beyond. Their culture is still basically medieval. The main point is that Modernity inflated them and now Modernity is over and they’re either going to pop or deflate. One wild card for now is what effect climate change may have in ME/NA. If the trend is hotter, than that’s not good news for a region so poorly watered and so hot that air conditioning is mandatory for the pampered urban elites. Last one out, please turn off the lights.
Then there’s Turkey, for decades known as “the sick man of Europe.” Now, of course, it can’t even get into Europe, the EU, that is, and it’s probably too late to sweat that anyway. Back when it was “sick” it was quiet at least. You barely heard a peep from the fucker through the entire cold war and beyond. But now that the countries on its border are breaking down, things have understandably livened up in Turkey. It was, until World War One, the very seat of the Islamic Caliphate, and it controlled much of the territory now occupied by the nations creatively carved out of the Sykes-Picot Agreement. Turkey is still a power in the region, with a lot of well-watered, habitable territory and a GDP half the size of Italy’s, though shrinking. Its current president, Recep Tayyip Erdogan, has shown twinges of megalomania in recent years, no doubt in fear of the radical Islam epidemic so close at hand. Lately, Kurdish extremists have been planting bombs around the country, too. Turkey has a lot to be paranoid about and Erdogan wants to change the constitution so he can act the strongman without a wimpy, pain-in-the-ass parliament weighing him down. He endured a coup last summer and came out of with consolidated power. But he’s capable of making another bonehead move like shooting down a Russian jet (2015). Meanwhile, Turkey’s currency is collapsing. The population is over 80 million. In the event of serious political upheaval, how many of them will try to flee to Europe?
Russia? It’s apparently stable. We hear no end of complaints about “Putin the Thug,” but in this time of altered reality and disinformation fog, it’s honestly impossible to tell what the fuck the score is. Has he bumped off some journalists? So they say. But, not to get to baroque about it, consider the impressive trail of dead bodies said to be left in the wake of Bill and Hillary. That story was so toxic that Google squashed searches for it during the election campaign. Putin seems to me, at worst, a competent and capable Czar, in a country that likes to be ruled by them. That’s their prerogative. He’s hugely popular, anyway, and it’s one of the unsung miracles of recent times that Russia transitioned out of the fiasco of communism into a pretty much normal modern society, with shopping, movies, tourism travel, and everything. The Russian people may look back at these decades as a golden age. They’ve been punished by Western sanctions for a few years now, but it has prompted them to promote their own version of a SWIFT Code for international banking transactions, and their own counterpart to the EU, the Eurasian Customs Union, and to manufacture some products of their own (import replacement).
Personally, I think the meme of “Russian aggression” is not born out by actual recent geopolitical reality. They are castigated constantly for wanting to march back into the Baltic States, Ukraine, and other former Soviet territories. Ukraine was made a basket case with direct American assistance. (Remember Deputy Secretary of State Victoria Nuland: “Fuck the EU!”) Ukraine was rendered an instant failed state. As far as I could tell, the last thing Russia wanted was to take on Ukraine as an economic dependent. Same for the Baltic States. They need to subsidize these places like they need a hole in the head. Russia’s 2015 annexation of the Crimea was a special case, since it had been part of Russia one way or another for most of the past 200 years, except for the period after Khrushchev gifted it to his homeboys in Ukraine around 1957. Anyway, the Crimea was the site of Russia’s only warm-water naval ports. They’d rented it from Ukraine before the US pranged the country. The Crimean inhabitants voted to join Russia (why do we assume that was not sincere?).
Finally, as renowned Russologist Stephen Cohen has said, wouldn’t it make sense for the US and Russia to drop all this antagonism nonsense and make common cause against the real threat of our time: Islamic Jihad? How many Westerners has Russia killed or harmed the past twenty years compared to the forces of Jihad? The tensions in Syria are admittedly complex, but why are we making them worse while Russia attempts to stabilize the joint? Perhaps The Donald can start there….
As I write, Mr. Putin just announced that his country would not take any reciprocal action against American diplomats in retribution for Mr. Obama’s fugue of punishments meted out last week for the still-unproven “Russia Hacks Election” story. Personally, I’m content to wait three weeks and see if relations improve after Mr. Obama departs the Oval Office.
Finally, there’s China. I’m among those who believe China is running the most farkakta banking system on God’s green earth. We should not be surprised if it implodes in 2017, and does so pretty badly, in a way that might shake the foundations of the entire banking system. On that note, I confess that I have run out of forecast mojo for the year, and anyway this bulletin is long enough. If you’ve gotten this far, I commend and admire you hugely for your remarkable patience. Have a happy 2017 everybody, and don’t let our Trumpadelic president get you down.
Friday, January 06, 2017
Wednesday, January 04, 2017
Kunstler's Forecast 2017: The Second Excerpt
Kunstler's full column.
Vagrant Thoughts on Geopolitics
As I write just before New Year’s Eve, President Obama is trying to start World War Three with Russia as a parting gift to the voting public. I’m among the skeptics who think that the “Russia Hacks Election story” is a ruse to divert the public’s attention from the stupendous failure of the Democratic Party to win, as expected. Rather, Wikileaks should get the Pulitzer Prize for revealing so much about the nefarious workings of the Clinton Foundation and the Democratic National Committee.
Regular readers know I didn’t vote for Trump, that I heaped considerable abuse on him in the campaign commentaries. But I didn’t take any comfort in the nostrum about being “better off with the Devil you know (Hillary) than the one you don’t know (Trump).” Both candidates were awful, and the condition of the country is pretty awful as we turn the corner onto 2017. Readers also know from these commentaries and from my books that I expect we will have to make big changes in our living arrangements up ahead as the techno-industrial fiesta winds down. I won’t reiterate the particulars here, but 2017 is the hinge year for that [Emphasis mine.--P.Z.]. The strains on global finance are so spectacular that something’s got give. President Trump is sure to be overwhelmed by epic dislocations in markets, currencies, debt, and misguided central bank efforts to hold back the tides of a necessary re-set — a re-set which will see a lot of wealth vanish and a lot of pain inflicted on the losers of wealth, including whole societies.
We have three major European elections to look forward to in 2017: The Netherlands and France in the Spring, and Germany in the fall. Geert Wilders (a member of the Trump Big Hair Club), is virulently against the “Islamisation” of his country. He has campaigned previously to leave the European Union and for the return to the old guilder currency. Should the right-wing Marine LePen win in France, the EU experiment will likely end — she has made express promises to take France out of the EU. Angela Merkel has made herself impressively unpopular by opening the gates to a flood of immigrants fleeing the breakdown zones of the Middle East and Africa. And then, because of the Schengen Agreement (free passage across EU borders), the immigrants were unleashed on the rest of Europe.
Those of us paying attention may have easily lost count of the terror atrocities carried out across Europe by Islamic fanatics. Charlie Hebdo, Bataclan, the Bastille Day truck attack in Nice, the Brussels airport, the Berlin Christmas Market were only the most recent and spectacular. For years, individuals have been stabbed, had their heads cut off, throats cut, been blown up, machine-gunned. Take a look at this comprehensive list going back to 2001. You may be astonished. In that light, it’s pretty hard to keep waving the “diversity” banner, and I sense that Europe has had enough of it. One big question is whether the new European right-wing leaders will actually move as far as mass deportations. I rather think they will.
The UK “Brexit” vote was surprise all right. (I hit a white-tailed deer on the Maine Turnpike at 70mph that June morning, uccchhh, and lived to tell about it.) Now there’s a fair chance that Parliament will find a way to wiggle out of Brexit. Noises are also emanating out of Brussels to the effect that the EU could loosen up some of their rules — e.g. the Schengen Agreement — to induce Britain to stay in the EU. But there are so many other fissures and fragilities in that system that the Brexit may not matter anymore. The European banking system is melting down and there is absolutely no way to rescue it on the macro EU scale. Italy was heading for a banking crackup before Christmas. Deutsche Bank has been whirling around the drain for a couple of years. When the US markets and banks shudder in 2017, Europe will get the vapors. Hence, I’ll forecast breakup of the EU by this time next year.
We’ve come to the pass where “all that is solid melts into air,” in the poetic phrase of old Karl Marx. Marx was referring to the “specter” of communism that loomed over burgeoning industrial society of the mid-19th century, and indeed it turned into quite a world struggle through the century that followed. But now communism is down for the count and we begin to see what is truly melting into air: Modernity itself, this colossal, hulking, grinding, machine of destruction that threatens the global eco-system, and all its sub-systems including the human realms of money and politics.
The idea that Modernity itself might go down is inconceivable to those in thrall to the Religion of Progress, which declares that the world (and life in it) only gets better and better every year. This would appear demonstrably untrue, just in the visible damage to the landscape and the living things that struggle to dwell there. The most obvious problem with Modernity has been human population overshoot. The truth is, we’re not going to do a darn thing about it. There won’t be any policy or protocol, despite the good intentions of the groups inveighing against it. It will just go on… until it can’t, to paraphrase the late Herb Stein. Of course, people still have sex under conditions of hardship, so the population may plateau for a while until we are well into the long emergency. But the usual suspects of starvation, disease, and war are all still out there, doing their thing, and will only ramp up their operations.
Tuesday, January 03, 2017
Kim Carnes, "Invitation to Dance."
Monday, January 02, 2017
Kunstler: Forecast 2017: The Wheels Finally Come Off.
Kunstler: Forecast 2017: The Wheels Finally Come Off.
American Notes
Apart from all the ill-feeling about the election, one constant ‘out there’ since November 8 is the Ayn Randian rapture that infects the money scene. Wall Street and big business believe that the country has passed through a magic portal into a new age of heroic businessmen-warriors (Trump, Rex T, Mnuchin, Wilbur Ross, et. al.) who will go forth creating untold wealth from super-savvy deal-making that un-does all the self-defeating malarkey of the detested Deep State technocratic regulation regime of recent years. The main signs in the sky, they say, are the virile near-penetration of the Dow Jones 20,000-point maidenhead and the rocket ride of Ole King Dollar to supremacy of the global currency-space.
I hate to pound sleet on this manic parade, but, to put it gently, mob psychology is outrunning both experience and reality. Let’s offer a few hypotheses regarding this supposed coming Trumptopian nirvana.
The current narrative weaves an expectation that manufacturing industry will return to the USA complete with all the 1962-vintage societal benefits of great-paying blue collar jobs, plus an orgy of infrastructure-building. I think both ideas are flawed, even allowing for good intentions. For one thing, most of the factories are either standing in ruin or scraped off the landscape. So, it’s not like we’re going to reactivate some mothballed sleeping giant of productive capacity. New state-of-the-art factories would require an Everest of private capital investment that is simply impossible to manifest in a system that is already leveraged up to its eyeballs. Even if we tried to accomplish it via some kind of main force government central planning and financing — going full-Soviet — there is no conceivable way to raise (borrow) the “money” without altogether destroying the value of our money (inflation), and the banking system with it.
If by some magic any new industrial capacity were built, much of the work in it would be performed by robotics, not brawny men in blue shirts, and certainly not at the equivalent of the old United Auto Workers $35-an-hour assembly line wage. We have not faced the fact that the manufacturing fiesta based on fossil fuels was a one-time thing due to special historical circumstances and will not be repeated. The future of manufacturing in America is frighteningly modest. We’ll actually be lucky if we can make a few vital necessities by means of hydro-electric or direct water power, and that will be about the extent of it. Some of you may recognize this as the World Made By Hand scenario. I’ll stick by that.
Similarly for “infrastructure” spending touted by the forces of Trump as the coming panacea for economic malaise. I suspect most people assume this means a trillion-dollar stimulus spend on highways and their accessories. Well, that also assumes that we expect another fifty years of Happy Motoring and suburban living. Fuggeddabowdit. We’re in the twilight of motoring anyway you cut it, despite all the chatter about electric cars and “driverless” cars. We won’t have the electric capacity to switch over the Happy Motoring fleet from gasoline. The oil industry itself is already headed for collapse on its sinking energy-return-on-investment. And our problems with money and debt are so severe that the motoring paradigm is more prone to fail on the basis of car loan scarcity and unworthy borrowers before the fueling issues even kick in. Every year, fewer Americans can afford to buy any kind of car — the way they’re used to buying them, on installment loans. The industry has gone the limit to help them — seven-year loans for used cars! — but they have no more room to maneuver. The car financing system is broken. Bear in mind the original suburbanization of America back in the 20th century — along with its accessory automobiles — must be regarded as the greatest misallocation of resources in the history of the world. So, a rebuild of all this stuff would represent more and possibly even greater malinvestment. We could have applied our post-WW2 treasure to building beautiful walkable towns and cities with some capacity for adaptive re-use, but we blew it in order to enjoy life in a one-time demolition derby. Life is tragic. Societies make poor choices sometimes, and then there are consequences.
We also might have been in better shape now if, beginning twenty years ago, we began a major rebuild of our railway infrastructure. But we blew that off, too, and shortly it will be very difficult to get around this geographically large country by any mechanical means. It may be too late now to do anything about that for the financing reasons already touched on — and which I will elaborate on next. The bottom line is that President Donald Trump will be overwhelmed by a sea of financial troubles from the very get-go, and here’s why.
Designated Bag-Holder
The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up. In 2017 both will lose their authority and legitimacy, a very grave matter for the survival of this republic.
Insiders surely have seen this coming for a long time. The people running this so-called Deep State of overblown and overgrown institutions probably acted at first with the good intentions of keeping the national lifestyle afloat. But in the end (now approaching) they stooped to too much duplicity and deceit in the desperate attempt to not just preserve the system, but to protect their own reputations and personal perquisites. And now there ought to be some question with the election of 2016 that they have engineered all of this system fragility to blow up on Mr. Trump’s watch, so they can blame him for it. It was going to blow up anyway. But had Hillary Clinton won the election, at least the right gang would have had to take the blame — the people in charge for the past twenty years. Instead, Donald Trump has been elected Designated Bag-Holder.
...
The Oil Quandary
The reports of Peak Oil’s death are exaggerated, to borrow a gag from Mr. Twain. It’s just been playing out in ways that many of us didn’t quite anticipate and it is still at the heart of our economic predicament — which is that you can’t rationalize an annual debt growth rate of 8 percent if your actual economic growth rate is under 4 percent (paraphrasing Chris Martenson at Peak Prosperity.com).
We haven’t run out of oil, but we have run out of oil that is rationally economical to pull out of the ground. The so-called “shale oil miracle” extended the oil age a few years by debt-financed legerdemain. Yes, we drove US oil production way up, almost back up to the 1970 peak production level around 10 million barrels-a-day (b/d). The trouble was that the companies producing it didn’t make a red cent in the process. They just ran up a huge amount of debt to pursue the shale project. The pursuit was on wholeheartedly beginning around 2006, because 1) the Peak Oil story was scaring folks, including folks in the oil industry, and 2) the market price of crude oil soared after 2004 and shale looked like a possibly winning venture — especially since conventional exploration in recent years was turning up almost nothing of significance.
Saturday, December 31, 2016
Billy Joel, "Miami 2017 (Seen the Lights Go Out On Broadway)."
Richard Marx's 1993 cover:
And the movies Cherry 2000 and The Running Man are set in a dystopian 2017.
It's finally time for the awesome 1987 film "The Running Man" to shine as a cultural touchstone. pic.twitter.com/hzhGJndIrG
— Adam (@EvilOmarVizquel) December 31, 2016
Although the scenarios put forth here are unlikely to happen, let us all strive for peace in the year ahead.
Friday, December 30, 2016
Various Tweets and a Link
16 Historical sites DESTROYED by Saudi airstrikes on #Yemen over 21 months of (west backed) war ending 1000s years country history forever. pic.twitter.com/dArstM1W6i
— Yemen Post Newspaper (@YemenPostNews) December 29, 2016
To be read in conjunction with the Vanity Fair restaurant review.
I'm hearing great things about this novel @RamonGlazov translated. Damnit where's my review copy https://t.co/4I7Kcdfva6
— Mark Ames (@MarkAmesExiled) December 30, 2016
Some early concept sketches of Yogi Bear drawn by legendary Hanna-Barbera artist Ed Benedict. pic.twitter.com/O7wokMIArI
— Travis Bickerstaff (@Bickpixx) December 30, 2016
she was rad as hell https://t.co/DlG0aBC2GN
— SungWon Cho (ProZD) (@prozdkp) December 27, 2016
Senator says listeners not consulted before ABC decision to cut shortwave https://t.co/k1dGFQuLpf via @abcnews #PNG #Vanuatu #Fiji #CookIs
— Jemima Garrett (@jemimagar) December 29, 2016
RENWICK, Iowa - The once-bustling town of Renwick, Iowa, has lost many businesses as its population declined. But https://t.co/TyUfSz7nC0
— rasi (@twisira) December 29, 2016
Thursday, December 29, 2016
Wednesday, December 28, 2016
Various Tweets
In our facile American binary, either a) Assange/Snowden infallible, so their leaks are Holy; b) they're evil, thus their leaks are Satanic
— Mark Ames (@MarkAmesExiled) December 27, 2016
Now they're going after Steve Martin -- STEVE MARTIN -- for mourning in an unapproved manner. And they actually think they're good people. https://t.co/GRNYGQSief
— Jim Treacher (@jtLOL) December 28, 2016
Q: How much more time do you think it would have taken if you weren't a U.S. senator? https://t.co/6WKZon0wzP
— Kevin D. Williamson (@KevinNR) December 28, 2016
More on Russia's support for separatist and white supremacist movements on the extreme right and left in America. https://t.co/pRow3paEv2
— Evan McMullin (@Evan_McMullin) December 28, 2016
The globalists are now beating the drums for California to break free from the union - https://t.co/r5QTxfOuGS #Calexit
— Alex Jones (@RealAlexJones) December 26, 2016
Monday, December 26, 2016
More on George Michael
In the 1990s, "alternative" music was taken so seriously but it was George Michael, En Vogue, Salt n Pepa, TLC etc addressing social issues
— Sarah Kendzior (@sarahkendzior) December 26, 2016
Kunstler: Exit, Hope and Change
Kunstler: Exit, Hope and Change.
Yes, that was a gag.
By now, anyone in this country still of sound mind knows that Barack Obama presided through eight years of remarkable continuity — of changeless conditions that left a great many hopeless. As the days of his tenure dwindle, what do we make of the departing 44th president?
He played the role with cool-headed decorum, but that raises the question: was he just playing a role? From the get-go, he made himself hostage to some of the most sinister puppeteers of the Deep State: Robert Rubin, Larry Summers, and Tim Geithner on the money side, and the Beltway Neocon war party infestation on the foreign affairs side. I’m convinced that the top dogs of both these gangs worked Obama over woodshed-style sometime after the 2008 election and told him to stick with the program, or else.
What was the program? On the money side, it was to float the banks and the whole groaning daisy chain of their dependents in shadow finance, real estate, and insurance, at all costs. Hence, the extension of Bush Two’s bailout policy with the trillion-dollar “shovel-ready” stimulus, the rescue of the car-makers, and a much greater and surreptitious multi-trillion dollar hand-off from the Federal Reserve to backstop the European banks with counter-party obligations to US banks.
In April of 2009, Obama’s new SEC appointees, strong-armed by bank lobbyists, pushed the Financial Accounting Standards Board (FASB) into suspending their crucial Rule 157, which had required publically-held companies to report their asset holdings based on standard market-based valuation procedures — called “mark-to-market.” After that, companies like Too-Big-Too-Fail banks could just make shit up. This opened the door to the pervasive accounting fraud that allowed the financial sector to pretend it was healthy for the eight years that followed. The net effect of their criminal fakery was to only make the financial sector artificially larger, more dangerously fragile, and more prone to cataclysmic collapse.
Another feature of life on the money-side of the Obama presidency was that nobody paid a personal price for financial misconduct. This established the basic ethos of Obama-era finance: anything goes, and nothing matters. All the regulators looked the other way most of the time. And when forced to act by egregious behavior, they made deals that let banking executives off-the-hook while their companies shelled out fines that amounted to the mere cost of doing business. It happened again and again. The poster boy for this kind of “policy” — or just plain racketeering — was Jon Corzine, the head of the commodities brokerage MF Global, whose company looted “segregated” customer accounts to the tune of nearly a billion dollars in the fall of 2011. Corzine was never prosecuted and remains at large to this day.
Another signal failure in the money realm was Obama’s response to the 2010 Citizen United Supreme Court decision, which declared that the alleged legal “personhood” of corporations entitled them to exercise “free speech” by giving as much money as they wanted to political candidates for election. Big business no longer had to just rent congressmen and senators, they could buy them outright with cash.
A conservative Supreme Court made the call, but Obama could have acted forcefully in the face of it. The former constitutional law professor-turned-politician could have marshaled a response in his Democratic Party-controlled congress to draft legislation, or a constitutional amendment, that would properly redefine the personhood of corporations. It should be obvious, for instance, that corporations, unlike human citizens, do not have duties, obligations, and responsibilities to the public interest; by legal charter they have only to answer to their shareholders and boards of directors. How does this confer the kind of political free speech “rights” that the court allowed them to claim? And how did the Obama and his allies in the legislative branch roll over to allow this disgraceful affront to the constitution to stand? And how is that almost nobody in the mainstream press or academic law even pressed these issues? Thanks to all of them, we’ve set up the primary means for establishing a fascist Deep State: the official marriage of corporate money and politics. Anything goes and nothing matters.
Finally, in foreign affairs, there is Obama’s mystifying campaign against the Russian Federation. The US had an agreement with Russia after the fall of the Soviet Union that we would not expand NATO if they gave us a quantity of nuclear material that was in danger of falling into questionable hands in the disorder that followed the collapse. Russia complied. What did we do? We expanded NATO to include most of the former eastern European countries (except the remnants of Yugoslavia), and then under Obama, NATO began holding war games on Russia’s border. For what reason? The fictitious notion that Russia wanted to “take back” these nations — as if they needed to adopt a host of dependents that had only recently bankrupted the Soviet state. Any reasonable analysis would call these war games naked aggression by the West.
Then there was the 2014 US State Department-sponsored coup against Ukraine’s elected government and the ousting of President Viktor Yanukovych. Why? Because his government wanted to join the Russian-led Eurasian Customs Union instead of an association with European Union. We didn’t like that and we decided to oppose it by subverting the Ukrainian government. In the violence and disorder that ensued, Russia took back the Crimea — which had been gifted to the former Ukraine Soviet Socialist Republic (a province of Soviet Russia) one drunken night by the Ukraine-born Soviet leader Nikita Khrushchev. What did we expect after turning Ukraine into another failed state? The Crimean peninsula had been part of Russia for longer than the US had been a country. Its only warm water naval ports were located there. They held a referendum and the Crimean people voted overwhelmingly to return to Russia. So, President Obama decided to punish Russia with economic sanctions.
Then there was Syria, a battleground between the different branches of Islam, their sponsors (Iran and Saudi Arabia), and their proxies, (Hezbollah and the various Salafist jihad armies). The US “solution” was to sponsor the downfall of the legitimate Syrian government under Bashar al-Assad. We apparently still favored foreign relations based on creating failed states — after our experience in Iraq, Somalia, Libya, and Ukraine. President Obama completely muffed his initial attempt at intervention — the “line-in-the-sand” moment — and then decided to send arms and money to the various Salafist jihadi groups fighting Assad, claiming that our bad guys were “moderates.” Meanwhile, Russia stepped in to prop up Assad’s government, apparently based on the idea that the Middle East didn’t need yet another failed state. We castigated Russia for that.
The idiotic behavior of the US toward Russia in these matters led to the most dangerous state of relations between the two since the heart of the Cold War. It culminated in the ridiculous campaign this fall to blame Russia for the defeat of Hillary Clinton. And here we are.
I didn’t vote for Hillary or Donald Trump (I wrote-in David Stockman). I’m not happy to see Donald Trump become president. But I’ve had enough of Mr. Obama. He put up a good front. He seemed congenial and intelligent. But in the end, he appears to be a kind of stooge for the darker forces in America’s overgrown bureaucratic Deep State racketeering operation. Washington truly is a swamp that needs to be drained. Barack Obama was not one of the alligators in it, but he was some kind of bird with elegant plumage that sang a song of greeting at every sunrise to the reptiles who stirred in the mud. And now he is flying away.
[Emphasis mine.--P.Z.]
Next week, I’ll post the 2017 forecast..
Sunday, December 25, 2016
R.I.P. George Michael
I saw this video in the fall of 1990.
This one came out later in the fall. And the Friday before Christmas, at Rhythm and Reading, I bought the cassette of Listen Without Prejudice, Vol. 1, along with LL Cool J's Mama Said Knock You Out cassette.
Friday, December 23, 2016
Thursday, December 22, 2016
#Germany has decided to increase the number of #troops that it will commit to the #NATO deployment in #Lithuania: https://t.co/zaZIYifr9H pic.twitter.com/omCrgxtj0U
— Agnia Grigas (@AgniaGrigas) December 21, 2016
Spanky & Our Gang, "I'd Like to Get to Know You."
"Nebo i Zemlya."
Wednesday, December 21, 2016
Self-Driving Cars and Unemployment
Driver is the number 1 occupation in almost every state. Future politics look even bleaker than the present https://t.co/dVRL5Mqyfn
— Paul Blumenthal (@PaulBlu) December 21, 2016
Tuesday, December 20, 2016
Monday, December 19, 2016
Saving Gullah Geechee Culture.
One woman’s quest to save Gullah Geechee culture on Georgia’s Sapelo Island: https://t.co/f2rUd8ltE7 pic.twitter.com/rpa5oQDz5A
— Garden & Gun (@gardenandgunmag) February 29, 2016
The Russian Ambassador to Turkey is Assassinated.
The murder of the Russian Ambassador in Turkey should serve as a reminder that killing & violence is a vicious & endless cycle. Just stop.
— Dr. Craig Considine (@CraigCons) December 19, 2016
Last time a Russian ambassador was assassinated was in 1927, Pyotr Voikov, USSR's envoy to Poland.
— Aldin AbazoviΔ (@Ald_Aba) December 19, 2016
Assassin of Russian ambassador Andrei Karlov reported to be Turkish police officer, Mert Altintas. #Ankara #Turkey #Russia pic.twitter.com/oiD85P2iOs
— Diego Cupolo (@DiegoCupolo) December 19, 2016
Kunstler: The Deep State Blues.
Lest you wonder, not only did I not vote for Mr. Trump (or Hillary), but I relished heaping opprobrium on him during the election campaign. Just so you know, I’m not advocating for him, but I’m alarmed that the Deep State (the White House + the Intel Agency gang) now appears to be trying to hack the electoral college vote against him.
The headline deployed everywhere last week, “Russia Hacks Election,” was designed by the Deep State players to deviously lead the broadly dim public to think that Russia somehow interfered with the balloting process, which was not possible since voting machines are not hooked up to the internet. And then it was repeated endlessly by the cable news networks and the newspapers, under the number one rule of propaganda: that if you repeat something often enough, the public will swallow it.
This dishonest meme was also designed to distract the public from the substance of the emails disclosed by WikiLeaks — namely, the scamming and trickery of the Democratic National Committee (DNC), and the influence-peddling of Hillary Clinton and the Clinton Foundation, which had her flirting with indictment last summer, and only reinforced her already-established public image as an unscrupulous person.
The New York Times especially worked the “Russia Hacks Election” story to a fare-the-well, saying in its Sunday edition:
The Central Intelligence Agency has concluded that Moscow put its thumb on the scale for Mr. Trump through the release of hacked Democratic emails, which provided fodder for many of the most pernicious false attacks on Mrs. Clinton on social media.
False attacks? What, that Hillary’s cronies put the DNC’s “thumb on the scale” against Bernie Sanders? That Donna Brazille gave Hillary debate questions beforehand? That as Secretary of State Hillary gave more face-time to foreign supplicants based on their contributions to the Clinton Foundation, and expedited arms deals for especially big givers? That she collected millions in speaking fees for sucking up to Too-Big-To-Fail bankers? That The Times and The WashPo and CNN reporters were taking direction from Hillary’s PR operatives?
Consider, too, how the Deep State “Russia Hacks Election” meme was ramped up to top volume coincidentally the week before the electoral college vote, as a last-ditch effort was launched by the old-line media, the diehard Hillary partisans, and a bunch of Hollywood celebrities, to persuade electoral college delegates to switch their votes to deprive Trump of his election victory.
President Obama did his bit to amplify the message by coloring Russian President Vladimir Putin as being behind the so-called hacking because “not much happens in Russia without, you know, Vladimir Putin,” just like not much happened in old Puritan New England without the involvement of Old Scratch. So now we have an up-to-date Devil figure to stir the paranoid imaginations of an already divided and perturbed public.
Hillary and her supporters have vehemently asserted that “seventeen intelligence agencies” agree with the assessment that Russia hacked the election. It might be greater news to the American people to hear that there actually are seventeen such agencies out there. Perhaps Mrs. Clinton or Mr. Obama might explain exactly what they are beyond the CIA, the FBI, the DIA, the NSA, and DHS. Personally, I feel less secure knowing that there are so many additional surveillance services sifting through everybody’s digital debris trail.
There’s been some chagrin among more prudent observers that neither the various Intel gang chiefs, including James Clapper, overall Director of National Intelligence, nor the White House have provided a shred of evidence that WikiLeaks got the Hillary emails from the Russians. One might even suppose that we discovered the hack by hacking the Russians, perhaps even Mr. Putin’s personal iPhone — but, wait a minute… we don’t intrude on other nations’ business. We don’t use the internet to spy (!) on anybody.
It will be interesting to see how Mr. Trump gets along with the Intel gang when (and if) he actually makes it into the oval office. It’s nice to think that he will fire a bunch of them, and then fire a bunch more, and maybe take a good hard look at these seventeen security and surveillance agencies and maybe shut a few of them down. In the meantime, their activity begins to look like the attempted coup d’Γ©tat I warned about a few months ago.
Forgive me for changing the subject so briskly, but there was another front page piece in The New York Times on Sunday that kind of said it all about where that Old Gray Lady’s collective head is at these days. Behold this quote from the story What Women Really Think of Men:
As the country prepares to revert to white male rule, our common condition for all but eight of the last 240 years, we should think harder about why we assume so little of men, including ones we may be married to. Too many men don’t prove those expectations wrong, and are rewarded anyway with prizes like the presidency.
Sunday, December 18, 2016
R.I.P. Zsa Zsa Gabor.
https://twitter.com/i/moments/810615346461716481
Zsa Zsa Gabor has died, two months shy of her 100'th birthday. Hasn't been seen in public for years. pic.twitter.com/X9M5EBk779
— Dee Dee Dunleavy (@DeeDeeDunleavy) December 18, 2016
She had wanted to return to Hungary and die there.
In 1952 she made her movie debut in the musical Lovely to Look At as--who else?--Zsa Zsa.
Thursday, December 15, 2016
Wednesday, December 14, 2016
Yes, But...
Obama's choice for Energy Secretary was a nuclear physicist from MIT. Trump's choice was a guy who couldn't remember the name of the Agency
— Claude Taylor (@TrueFactsStated) December 13, 2016
Not that Moniz isn't highly educated and competent. And not that Perry would be in way over his head. But...
Fuelfix.com: "Sec. Moniz Bullish on Nuclear to Help Solve Carbon Dilemma."
"Truthout (US): Nuclear Power Is on the Wane, Despite Efforts of High-Profile Boosters."
CounterPunch: "The Real Nuclear Threats."
Yes, I heard.
Trump is replacing our current Secretary of Energy, a nuclear physicist--A NUCLEAR PHYSICIST-- with Rick Perry.
— Victoria Dahl (@VictoriaDahl) December 13, 2016
RICK PERRY.
However,
Rick Perry, Trump's appointee for the Dept of Energy, is on the board of the company building DAPL. https://t.co/DRsKcQvI0c @thatchriswalker
— Juliana Britto (@JulianaBrittoS) December 15, 2016
Monday, December 12, 2016
Kunstler: Trumpxuberance… Until It’s Not
“Markets shrugged off the Brexit vote in a couple of days. They shrugged off Donald Trump’s election in a single day. They shrugged off the Italian referendum result in a couple of hours. Heck, in this mood they would shrug off an alien invasion of planet Earth.”
— Albert Edwards, SociΓ©tΓ© GΓ©nΓ©rale
At this time of year, only the hardest, coldest heart can fail to show good will to fellow man. That said, the silvery orb of Donald Trump’s post-election honeymoon may set sooner than expected as Ms. Yellin prepares to hoist her interest rate petard this week. Even a modest up-bump in the Fed Funds Rate is liable to prang the orgy of corporate share buybacks fueling the eight-year bull market that many formerly sane observers think is a permanent feature of the human condition. The bond market bull also seemed to last a lifetime and that’s gone south now, too.
Poor Trump’s mammoth ego has led him by the snout into a deadfall trap. The Trumpublican voters and cheerleaders expect another Morning in America miracle. Sorry, been there, done that, that was then, this is now. Conditions were quite different in 1981. For one thing, a brutal decade after the 1970 all-time US oil production peak, the Alaska North Slope fields came into full flow, along with the North Sea and Siberian fields.
The Alaska bonanza did not boost US production back to 1970 levels, but it did take the leverage away from OPEC, and it stuffed the elevated price-per-barrel back down to levels that an industrial economy could tolerate. The rest of the Reagan miracle was accomplished with debt. The case was similar for Mrs. Thatcher over in the UK. She was not an economic magician, just the beneficiary of a brief oil boom that made Britain a net energy exporter for two decades, providing an illusion of permanent prosperity and cover for the financialization of the economy. Now, with the North Sea oil playing out, all that’s left is the banking necromancy in Threadneedle Street.
Reagan also came in at the height of Fed Chair Paul Volker’s war on inflation, when the interest rate on the ten-year US treasury bond topped at 15 percent in September of 1981. Imagine paying 18 percent interest rates on your mortgage! How was that a good thing? Well, it wasn’t, not at all, it was a very bad thing for a while — but for Lucky Ronnie Reagan it meant interest rates had nowhere to go but down. And because bond prices correlate opposite to rates, the value of bonds had nowhere to go but up, which they did for 30-odd years until right now. And all that time, the world bond market couldn’t get enough of them — also till now, when big holders like China and Saudi Arabia are puking them back out.
When Reagan stepped in the national debt was only (only!) about half a trillion dollars. It will be over $20 trillion when Trump hangs his golden logo on the White House portico. Oh, by the way, consider that a trillion dollars is a thousand billion dollars and a billion dollars is a thousand million dollars. Just so you know. Reagan had room for plenty of government finance monkey business. Trump has no room. Bush One, Clinton, Bush Two and Obama dug the deadfall debt trap for poor Donald and the election shoved him right into it. He thinks he’s on an upper floor of his enchanted tower; he’s actually down in a pit.
Trump thinks he’s going to rebuild highways and bridges for another century of Happy Motoring — to make America like it was in 1962 forever. Fuggeddabowdit. The bond market is poised for collapse as I write, and Trump’s money people (that is, the Goldman Sachs gang he has assembled) are talking about issuing fifty and 100 year “Build America” bonds. Their nostrils must be rimed with the frost of Medellin.
They're certainly not going to accomplish this trick by raising taxes. On who? Corporations? Ha! The One Percent? Double-Ha! Everyone else? Pitchforks and torches!
American oil companies can no longer make a buck doing their thing. Exxon-Mobil's U.S. production business lost $477 million in the third quarter, the seventh straight quarter in the red. Why? Because it costs a lot more to get the stuff out of the ground than it did ten years ago, and that high cost is bankrupting oil companies and industrial economies. That is the stealth action of Peak Oil that so many people pretend is not happening. It will ultimately destroy the banking system.
The disappointment issuing from this dire set of circumstances is apt to be epic as Trump flounders and the furious tweets of futility waft out of the hole he’s trapped in. Christmas will be over, and with it the hopes of a retail reprieve. Gasoline may remain cheap, but the little people won’t be able to buy the cars to run it in. Or buy much of anything else. Not even tattoos. We’ll soon discover the temperamental difference between Donald J. Trump and Franklin Delano Roosevelt.
Sunday, December 11, 2016
Saturday, December 10, 2016
Friday, December 09, 2016
Fukushima Radiation Confirmed to Have Reached the Pacific Northwest.
https://www.bloomberg.com/news/articles/2016-12-09/trump-team-s-memo-hints-at-broad-shake-up-of-u-s-energy-policy
Wednesday, December 07, 2016
.@washingtonpost has published an editor's note atop its Nov. 24 report re: Russian propaganda/fake news & PropOrNot https://t.co/GWuXfqnn4Y pic.twitter.com/wKvJaSbKDS
— Truthdig (@Truthdig) December 7, 2016
In which a liberal Dem congressman is so bad at lying, he manages to make Tucker Carlson look principled. End Times https://t.co/X1fjvqxzMX
— Mark Ames (@MarkAmesExiled) December 8, 2016
Tuesday, December 06, 2016
Grammy nominations out.
Monday, December 05, 2016
Kunstler: The Deepening Deep State.
One amusing angle on the news media broadside about Russia “hacking” the US election is the failure to mention — or even imagine! — that the US incessantly and continually runs propaganda psy-ops against every other country in the world. And I’m not even including the venerable, old, out-in-the-open propaganda organs like Voice of America and Radio Free Europe (reminder: the Iron Curtain came down a quarter century ago). Do you suppose that nobody at Langley, or the Pentagon, or the NSA’s sprawling 1.5 million square foot Utah Data Center is laboring night and day to sow confusion among other societies to push our various agendas?
The main offensive started with The Washington Post’s publication on Nov 26 of “The List,” a story calling out dozens of blogs and web news-sites as purveyors of “fake news” fronting for Russian disinformation forces. The list included Zero Hedge, Naked Capitalism, and David Stockman’s blog. There were several whack-job sites mixed in the list for seasoning — The Daily Stormer (Nazis), Endtime.com (Evangelical apocalyptic), GalacticConnection (UFO shit). The rest range between tabloid-silly and genuine, valuable news commentary. What else would you expect in a society with an Internet AND a completely incoherent consensus about reality?
Pretty obviously, the struggle between mainstream news and Web news climaxed over the election, with the mainstream overwhelmingly pimping for Hillary, and then having a nervous breakdown when she lost. Desperate to explain the loss, the two leading old-line newspapers, The New York Times and The Washington Post, ran with the Russia-Hacks-Election story — because only Satanic intervention could explain the fall of Ms. It’s-My-Turn / I’m-With-Her. Thus, the story went, Russia hacked the Democratic National Committee (DNC), gave the hacked emails to Wikileaks, and sabotaged not only Hillary herself but the livelihoods of every myrmidon in the American Deep State termite mound, an unforgivable act.
Also interestingly, these newspapers and their handmaidens on TV, were far less concerned as to whether the leaked information was true or not — e.g. the Clinton Foundation donors’ influence-peddling around arms deals made in the State Department; the DNC’s campaign to undermine Bernie Sanders in the primaries; DNC temporary chair (and CNN employee) Donna Brazille conveying debate questions to HRC; the content of HRC’s quarter-million-dollar speeches to Wall Street banks. All of that turned out to be true, of course.
Then, a few weeks after the election, the US House of Representatives passed H.R. 6393, the Intelligence Authorization Act for Fiscal Year 2017. Blogger Ronald Thomas West reports:
Section 501 calls for the government to “counter active measures by Russia to exert covert influence … carried out in coordination with, or at the behest of, political leaders or the security services of the Russian Federation and the role of the Russian Federation has been hidden or not acknowledged publicly.”
The measure has not been passed by the Senate or signed into law yet, and the holiday recess may prevent that. But it is easy to see how it would empower the Deep State to shut down whichever websites they happened to not like. My reference to the Deep State might even imply to some readers that I’m infected by the paranoia virus. But I’m simply talking about the massive “security” and surveillance matrix that has unquestionably expanded since the 9/11 airplane attacks, creating a gigantic NSA superstructure above and beyond the Central Intelligence Agency, the Department of Defense’s DIA, and the hoary old FBI.
A little paranoia about the growing fascist behavior of the US government is a useful corrective to trends that citizens ought to be concerned about — for instance, the militarization of police; the outrageous “civil forfeiture” scam that allows police to steal citizens cash and property without any due process of law; the preferential application of law as seen in the handling of the Clinton Foundation activities and the misconduct of banking executives; the attempt to impose a “cashless society” that would herd all citizens into a financial surveillance hub and eliminate their economic liberty.
These matters are especially crucial as the nation stumbles into the next financial crisis and the Deep State becomes desperate to harvest every nickel it can to rescue itself plus the cast of “systemically important” (Too-Big-To-Fail) banks and related institutions like Fannie Mae and Freddie Mac, which are about to once again be left holding colossal bags of worthless non-performing mortgages, not to mention the pension funds and insurance companies that will also founder in the Great Unwind that is likely to commence as Trump hangs his golden logo over the White House portico.
Sunday, December 04, 2016
Friday, December 02, 2016
Various Tweets
"Like the most effective Russian propaganda, the @propornot report weaved together truth and misinformation" https://t.co/NkWUlLSkAx
— Mark Ames (@MarkAmesExiled) December 1, 2016
#Trump Treasury Secretary's company foreclosed on 90 yo woman for a 27-cent payment error https://t.co/WA4W7l1fFP pic.twitter.com/JFA3U0RT2C
— David Beard (@dabeard) December 1, 2016
Isn’t she paying for it? https://t.co/ghEPDPpH4Q
— Kombiz Lavasany (@kombiz) December 2, 2016
Michigan AG files suit to end Jill Stein's worthless recount https://t.co/iHHJBwC5Ir pic.twitter.com/tiDzHpyMEu
— Herman Cain (@THEHermanCain) December 2, 2016
Your favorite show highlights daily! And FREE! Cain 24/7 https://t.co/AIe8Jxsu1H pic.twitter.com/D1dN3HWkYf
— Herman Cain (@THEHermanCain) November 30, 2016
AJC.com: "Herman Cain Dropping Syndication in 2017, Staying on WSB, Four Other Cox Media Group Stations."
Rogue Beaver is the new Pizza Rat. Also, probably a new Nickelodeon show
— TBogg (@tbogg) December 1, 2016
If anything rugrats made me philosemitic. The passover episode is off the chain
— Zaid Jilani (@ZaidJilani) December 2, 2016
Ok Gatlinburg fund set up by @DollyParton its the real deal make it go viralhttps://t.co/x0vLVz7JRd
— 0hour1 (@Brian_Was_Here_) December 1, 2016
Help them just RETWEET RETWEET RETWEET
Cornel West is being punished for choosing a genuine commitment to a more egalitarian society over faux radicalism. https://t.co/73TNNLYoNi
— Jacobin (@jacobinmag) November 23, 2016
Cornel West can fuck right off. #YouBuiltThishttps://t.co/Z1mWP6vl7Y
— TBogg (@tbogg) December 2, 2016