09 November 2014

Libertarianism in a nutshell.

Too often, public libertarianism is reduced to a cartoonish state by overcompensating on liberty and leaving unconsidered other important concerns.
Comment by Jason on "Amateur Hour: Why I'm Leaving Young Voices." By Pamela Stubbart, This Field Is Required, 8/7/14.

08 November 2014

Our best thinking.

Right now, JPMorgan Chase has more than 67 trillion dollars in exposure to derivatives but it only has 2.5 trillion dollars in assets.

Right now, Citibank has nearly 60 trillion dollars in exposure to derivatives but it only has 1.9 trillion dollars in assets.

Right now, Goldman Sachs has more than 54 trillion dollars in exposure to derivatives but it has less than a trillion dollars in assets.

Right now, Bank of America has more than 54 trillion dollars in exposure to derivatives but it only has 2.2 trillion dollars in assets.

Right now, Morgan Stanley has more than 44 trillion dollars in exposure to derivatives but it has less than a trillion dollars in assets.

Most people have absolutely no idea how incredibly vulnerable our financial system really is.

Alcoholics at AA meetings will occasionally recount how they were low-bottom drunks and lost job, family, and self respect. Then they'll add, "And my best thinking got me there."

Some very smart people have gotten us to this point, which I've hitherto variously described as one characterized by utter delusional thinking or lies stretching out to the horizon on all points of the compass.

Earnestly discussing the abrogation of the Constitution, the metastatic growth of the federal government, or the perils of multiculturalism seems not to ignite the awakening of a great many citizens. A collapse of the major banks following the collapse of the derivative scam will be more instructive.

Notes
[1]  "Most People Cannot Even Imagine That An Economic Collapse Is Coming." By Michael Snyder, The Economic Collapse, 11/2/14.

Goodbye to the Age of Acquarius.

This essentially means that the state’s economic apparatus is now all about stimulus, all of the time. In fact, the state’s central banking branch has gotten so deep into ritualized Keynesian governance that it’s essentially attempting to micro-manage vast accumulations of GDP—-about $17 trillion each in the US and Europe—-on a monthly basis.That’s entirely what the meeting statements and post-meeting press conferences are all about.

Yet this is absurd. The information flow in a $17 trillion economy is far too vast to be digested and assessed by the 12 mortal members of the FOMC, and their policy control instrument—-the bludgeon of interest rate manipulations—- could not possibly shape its short-run course in any event. That’s especially true since the macro-economy is not a closed system, but one open to every manner of complicating and countervailing influence from trade, capital flows and financial impulses in a $80 trillion global economy.

Still, the Keynesian policy apparatchiks have not even an inkling that they are attempting the impossible or that their patter about objectives, forecasts and policy actions have gotten downright moronic.[1]

As a certified shade tree mechanic I not infrequently venture into projects on my beloved 25-year-old Honda, which is a machine of a certain complexity. With the help of decent manuals and a little beer it's sometimes possible to bird dog problems in a satisfying way, especially when I realize that my efforts have left a decent amount of my money where it belongs – in my pocket. Admittedly, I would have more confidence had I attended Bailey Tech at some point in my meandering career but it is still possible to figure out problems as a rank amateur.

The point of saying this is that even with more knowledge, I would have my work cut out for me, especially where electronic components are possibly at fault or there might be an accursed short to chase down. Mr. Stockman puts his finger on the problem with "managing" a national economy when the complexity of the systems involved is several orders of magnitude worse. Cliff Notes version: It can't be done. Even a simple electrical problem in a single automobile with relatively ancient fuel injection technology is daunting and time consuming, whoever is chasing it down.

Thus, it's all the more reason to watch with some dismay as Janet Yellin speaks with glibness and confidence of how this economic lever will be pulled and such and such level of employment will hopefully result with this or that "desirable" target rate of inflation in her sight reticle. (That would be the "desirable" inflation rate envisioned by her predecessors that has caused the dollar to lose 97% of its purchasing power since 1913 in case your were wondering.)

Modern man has been intoxicated for well over a century with the idea that sufficiently smart and educated people can competently manage the affairs of other people. It's a delusion fast proving to be a disaster as statist busybodies find they are running out of options when economies stall under the regulatory and tax loads imposed, massive borrowing is necessary merely to pay the interest on existing debt, and existing debt can't be paid off but merely rolled over. The fiscal flexibility and cushion available to such as FDR and Lydon Johnson are no more. And the noxious seeds that they planted are now the mighty oaks that are about to fall across our path.

An old cartoon had an army sergeant remarking to his buddy while they were out on the town: "Just look at all those people walking around unsupervised." It's an approach that mystified the sergeant and terrifies the statists and their parasites. Liberty was once prized by our elites but now takes a back seat to sophomoric social, political, and economic tinkering by people who have no idea at all of their human limitations. And we all get to go down with them, worst luck.

Notes
[1] "Ritual Incantation -- The Economic Gibberish Of The Keynesian Apparatchiks." By David Stockman, Contra Corner, 11/7/14.

30 October 2014

Not loathsome?

If you're ever tempted to think that the GOP is, in the main, not loathsome, you should read Chuck Baldwin's excellent article below.

It's important to vote against the ultra leftist, sellout, anti-white, progressive Democrat trolls this one last time but, after we get the finger in the eye from the GOP sellouts and cowards after this election, which we will, it will be time to go full third party.

"Reince Priebus And Amnesty–'There You Go Again!'" By Chuck Baldwin, VDARE.com, 10/30/14.

12 October 2014

We different.

All these foreign and economic woes led to political instability [in the Chinese Ming Dynasty], which led a centralized imperial bureaucracy whose rigidness and endless passing of laws was [sic] totally incapable of addressing the nation’s problems.
"(Deceiver) How Jesus’ Brother Killed Millions Of Chinese." By By Stucky, The Burning Platform, 10/10/14

This just in.

France’s generous welfare system has come at a price - a budget that hasn’t been balanced since 1974 . . . .[1]
Hopes that the magic fairy will fix this isolated problem burn brightly in all those devoted to Good Speak, Good Think, and Good Do.

Notes
[1]  "France Crushes Socialist Welfare Dream, Admits "Living Beyond Its Means" For 40 Years." By Tyler Durden, Zero Hedge, 10/9/14.

11 October 2014

Leftist betrayal of America.

Read the disgusting story of U.S. leftists’ support for Communists in Vietnam here:

"When Night Fell In Indochina." By Bruce Herschensohn, The New Nixon, date unknown.
It's a joy to read about that human slime. It just never grows old.

09 October 2014

Black to basics.

But Democrats no longer on the ballot believe the president should focus his time on his most loyal constituency.

“I’d have Obama on an evangelistic schedule of black churches all over the country,” said Willie Brown, the former mayor of San Francisco. “I think he really should go to the black base. I don’t think there’s any other place I would trust he wouldn’t create an adverse reaction rather than a positive reaction.”[1]

The comments on this article are, as usual, choice. The heaviest reader support is for comments extolling Obama’s "achievements" (improving economy, "saving" of GM, advance to socialized medicine, "falling" unemployment, promoting the homosexual agenda, protection of the sacrament of abortion) and/or evincing unswerving support for centralized, interventionist, constitution-optional policies and disdain for Republican "obstructionism" and hatred of kittens and the poor.

In short, a showcase of leftist delusion, economic ignorance, and blindness toward the dangers of an untouchable federal government.

Notes
[1]  "In This Election, Obama’s Party Benches Him." By Jonathan Martinoct, New York Times, 10/7/14.

08 October 2014

Progress.

When I was a boy my momma would send me down to a corner store with $1 and I’d come back with 5 potatoes, 2 loaves of bread, 3 bottles of milk, a hunk of cheese, a box of tea and 6 eggs.

You can’t do that now… Too many [darn] security cameras.

Comment on "The Change In Cost Of Living Since 1938." By Tyler Durden, Zero Hedge, 10/3/14.

04 October 2014

Unspeakable tragedy.

"Average_guy" comment on The Guardian’s Sophie Heawood’s angst at her failure to rear a "gender-neutral" daughter (who now likes to wear pink tutus and look at herself in the mirror):

Good luck dealing with the unspeakable tragedy that your daughter likes being a girl. It's a cruel world, for the modern intellectual.
"Sophie Heawood: why family life is like a Slinky." By Sophie Heawood, The Guardian, 10/3/14.