And yes, he is a real Populist. Could have been a member of the Greenback Party too. Amazing that he got so many votes. Or maybe not. The reason the establishment criminals so hate the Populists is because they have a winning message.
This video (from 1998!) has English and German subtitles.
Monday, March 11, 2013
Oliver Stone's "Untold History"
History is most often told by apologists for the powerful Predators. In fact, many historians believe that is the very definition of history—detailed accounts of the various murdering lying thugs who have sought dominance throughout the course of human events. In fact, it is this almost universally accepted definition of history that I found so repellant for the first 30 years of my life, I actually claimed I hated history. Of course, I eventually discovered there were dozens of histories and that some of them were utterly fascinating—particularly the history of the Producer Classes.
And so we come to Oliver Stone's incredible new history. Like the classic histories, it is about the liars and thugs. There is barely any mention of the Producers, their struggles and accomplishments. Even when the subject turns to the construction of the atomic bomb, there is no explanations of the technological problems that were solved but extensive discussions about who decided to actually use those explosives on the Japanese. So the Stone-Kuznick history is exactly the sort of effort I claim to detest—but I am still recommending it highly. Why is that? Because unlike most such books / films, this is not some adoring piece where brave men perform incredible feats in the face of danger and death. Stone-Kuznick deal with the Predators, all right. But they treat them as the crazy, lying, greedy, murderers that they are.
Folks might legitimately ask, "Why is this even news?" Good damn question. It is my contention that the overwhelming majority of the population of this country are peaceable Producers. Look at the facts. On the eve of USA's entry into World War I, opposition to entry into Europe's insanity was so dominant, Wilson would only win the election of 1916 by running on the slogan "He kept us out of the War!" Between World Wars I and II, significant actions were taken by Congress (Nye Commission on wartime profiteering) and the State Department (the Kellogg-Briand Pact outlawing war) to keep THAT from ever happening again. In the run-up to WW II, the national desire to not repeat the mistakes of 1916 was so powerful, the biggest antiwar movement in USA's history (America First) attracted virtually the entire intelligentsia of the nation along with hundreds of thousands of followers. So in order for the Predators to get their wars, they would have to change a LOT of minds. And so they lied—repeatedly and with great sophistication.
And since this nation never demobilized after WW II, the lies would continue. We are shocked when we learn of the lies told about Vietnam, or Iran, or Iraq or etc. But we shouldn't be. To sell wars and oversized defense budgets to a nation of peaceable industrial types, fraud is necessary. There is nothing remotely novel about Oliver North or Judith Miller—they are just two members in a LONG line of bald-faced lairs. But because they are lying in the defense of the Predators who usually run things, they are usually rewarded handsomely and held up as objects of veneration to up-and-coming Predators who would serve the interests of their class. And, we are told, their lies were in the service of the nation so they were good lies—and the rest of you shouldn't be so fussy about the "truth."
Stone-Kuznick tell us a pretty good version of what the Predators have been up to. This is rare. Histories about the Predators are supposed to glorify them and above all else, stick to the dominant historical narrative (the agreed-upon lies.) And because Stone-Kuznick don't do this, one wonders how long it will be before the keepers of the received "truth" drop the big shit-pile on them. It going to be difficult because the video version of "Untold History" is carefully constructed using file footage and the book is very well documented. But the keepers of the flame WILL try—count on it.
And so it begins—the "official" response to Oliver Stone's amazing history lesson. This one is from the head of the history department at Princeton. Sean Wilentz may be good at winning faculty debates, but he is going to discover how hard it is to steamroller Oliver Stone. All Stone must ask of Wilentz is, "Who the hell are you? Get back to me when you have captured the essence of an era like I did in Wall Street or Platoon."
And so we come to Oliver Stone's incredible new history. Like the classic histories, it is about the liars and thugs. There is barely any mention of the Producers, their struggles and accomplishments. Even when the subject turns to the construction of the atomic bomb, there is no explanations of the technological problems that were solved but extensive discussions about who decided to actually use those explosives on the Japanese. So the Stone-Kuznick history is exactly the sort of effort I claim to detest—but I am still recommending it highly. Why is that? Because unlike most such books / films, this is not some adoring piece where brave men perform incredible feats in the face of danger and death. Stone-Kuznick deal with the Predators, all right. But they treat them as the crazy, lying, greedy, murderers that they are.
Folks might legitimately ask, "Why is this even news?" Good damn question. It is my contention that the overwhelming majority of the population of this country are peaceable Producers. Look at the facts. On the eve of USA's entry into World War I, opposition to entry into Europe's insanity was so dominant, Wilson would only win the election of 1916 by running on the slogan "He kept us out of the War!" Between World Wars I and II, significant actions were taken by Congress (Nye Commission on wartime profiteering) and the State Department (the Kellogg-Briand Pact outlawing war) to keep THAT from ever happening again. In the run-up to WW II, the national desire to not repeat the mistakes of 1916 was so powerful, the biggest antiwar movement in USA's history (America First) attracted virtually the entire intelligentsia of the nation along with hundreds of thousands of followers. So in order for the Predators to get their wars, they would have to change a LOT of minds. And so they lied—repeatedly and with great sophistication.
And since this nation never demobilized after WW II, the lies would continue. We are shocked when we learn of the lies told about Vietnam, or Iran, or Iraq or etc. But we shouldn't be. To sell wars and oversized defense budgets to a nation of peaceable industrial types, fraud is necessary. There is nothing remotely novel about Oliver North or Judith Miller—they are just two members in a LONG line of bald-faced lairs. But because they are lying in the defense of the Predators who usually run things, they are usually rewarded handsomely and held up as objects of veneration to up-and-coming Predators who would serve the interests of their class. And, we are told, their lies were in the service of the nation so they were good lies—and the rest of you shouldn't be so fussy about the "truth."
Stone-Kuznick tell us a pretty good version of what the Predators have been up to. This is rare. Histories about the Predators are supposed to glorify them and above all else, stick to the dominant historical narrative (the agreed-upon lies.) And because Stone-Kuznick don't do this, one wonders how long it will be before the keepers of the received "truth" drop the big shit-pile on them. It going to be difficult because the video version of "Untold History" is carefully constructed using file footage and the book is very well documented. But the keepers of the flame WILL try—count on it.
And so it begins—the "official" response to Oliver Stone's amazing history lesson. This one is from the head of the history department at Princeton. Sean Wilentz may be good at winning faculty debates, but he is going to discover how hard it is to steamroller Oliver Stone. All Stone must ask of Wilentz is, "Who the hell are you? Get back to me when you have captured the essence of an era like I did in Wall Street or Platoon."
Saturday, March 9, 2013
Debt peonage—worse than slavery?
Of all the social crimes, debt peonage is the most evil surviver. While there are technically differences between actual debt peonage as practiced in ancient Greece or modern India and simply being in debt, this tends to be a distinction without much of a difference. And while the classical practices of debt peonage have been largely reformed away in most civilized lands, the extraction of a "pound of flesh" is still a very common practice among the creditors. In fact the modern austerians are simply updated muscle of the modern loan sharks.
The current crises where governments cannot even undertake the necessary repairs to the public infrastructure can be traced back to the undoing of the various forms of debtor's rights legislation (including usury laws) that began in the late 1970s. Up until that time in post WWII USA, a reasonably diligent person could be largely debt-free by their middle age. Now it is almost impossible. Yes it is still possible to avoid the debts that come from living a lifestyle more lavish than one's income will allow. But now there are so many debt traps that even the most cautious and hard-working person cannot avoid all of them. These traps include absurdly-priced higher education, the criminal exploitation of the sick, and most importantly, the failure of the minimum wage to keep pace with the costs of living. But even IF folks manage to avoid these traps, their governments and employers have sold them into debt—with or without their approval.
Here Chris Hedges takes on the problems of debt slavery using the theological approach of crying for social justice. This makes perfect sense because not only was he trained as a Protestant clergyman, this subject has been covered in depth by Christianity. Not only are there at least 50 places in the Bible where the subject of creditor-debtor relationships are discussed, the most famous prayer in Christendom (The Lord's Prayer) contains the line "And forgive us our debts, as we forgive our debtors." So he is on sound footing here.
And if you need a good homily this Sunday, make sure you follow the link over to Truthdig. This may be Hedges' best subject and it is obvious he has thought long and hard about it. The whole thing is about six times longer than this clipping.
The current crises where governments cannot even undertake the necessary repairs to the public infrastructure can be traced back to the undoing of the various forms of debtor's rights legislation (including usury laws) that began in the late 1970s. Up until that time in post WWII USA, a reasonably diligent person could be largely debt-free by their middle age. Now it is almost impossible. Yes it is still possible to avoid the debts that come from living a lifestyle more lavish than one's income will allow. But now there are so many debt traps that even the most cautious and hard-working person cannot avoid all of them. These traps include absurdly-priced higher education, the criminal exploitation of the sick, and most importantly, the failure of the minimum wage to keep pace with the costs of living. But even IF folks manage to avoid these traps, their governments and employers have sold them into debt—with or without their approval.
Here Chris Hedges takes on the problems of debt slavery using the theological approach of crying for social justice. This makes perfect sense because not only was he trained as a Protestant clergyman, this subject has been covered in depth by Christianity. Not only are there at least 50 places in the Bible where the subject of creditor-debtor relationships are discussed, the most famous prayer in Christendom (The Lord's Prayer) contains the line "And forgive us our debts, as we forgive our debtors." So he is on sound footing here.
And if you need a good homily this Sunday, make sure you follow the link over to Truthdig. This may be Hedges' best subject and it is obvious he has thought long and hard about it. The whole thing is about six times longer than this clipping.
Second-greatest annual rise in CO2 emissions
350 ppm seems almost like nostalgia. It's probably still a good number but with this year's total at—ta-daaa—395, it should be a good time actually act on the problem. But as we have seen again recently, the difference between problem presenters and problem solvers is HUGE!
So Vidal says to sound the alarm. I say, why alarm people who can't do a damn thing about the problem? On the other hand, the time has come to make serious threats to the banksters and their spokesdorks who claim we cannot afford to solve anything important. Time to alarm THEM!
So Vidal says to sound the alarm. I say, why alarm people who can't do a damn thing about the problem? On the other hand, the time has come to make serious threats to the banksters and their spokesdorks who claim we cannot afford to solve anything important. Time to alarm THEM!
Friday, March 8, 2013
No toons 9 MAR 13
Couldn't find any editorial cartoons for this week. But I did find a story I found highly amusing. I seems a Finnish paper company was looking for some feel-good messages for those who need help making the toilet experience more "meaningful." So they asked for some feel-good suggestions to print on their paper. Two they chose are from the Bible. Not surprisingly, some religiously devout found that printing sacred messages on toilet paper was far from respectful.
What is so incredible about this story is that in a country that has been Christian for nearly 1000 years, the company that chose a couple of the more famous lines in Christendom could claim they actually didn't know their source—and apparently people believe them. So in a country where two sentiments about love was so comforting that a TP company would choose them for part of a marketing campaign would also be so casual about their long historical traditions, they just assumed someone mellow made them up.
What is so incredible about this story is that in a country that has been Christian for nearly 1000 years, the company that chose a couple of the more famous lines in Christendom could claim they actually didn't know their source—and apparently people believe them. So in a country where two sentiments about love was so comforting that a TP company would choose them for part of a marketing campaign would also be so casual about their long historical traditions, they just assumed someone mellow made them up.
The economics of energy costs
Two recent items again confirm that nothing predicts the performance of the real economy like the price of fuels. Technology usually has operating costs that are added to the purchase costs and very often, those costs are MUCH higher. And often the biggest operating cost is energy.
PV cells completely upend this state of affairs. You buy the technology, put it out in the sun, and energy comes to you. With the obvious exception of wind turbines, it's hard to imagine another technology that has those economics. Because of those economic realities, the main problem to be solved was creating a solar harvesting technology that worked affordably. Even those of us who think a lot about the economic implications of solar power have underestimated this reversal of cost flows. We talk about converting a society from running on accumulated energy capital to running on energy income. But often we fail to appreciate just how pleasant such a society COULD be. We just didn't believe.
So now Deutsche Bank has made it official—PV cells are affordable without subsidies. We knew this day was coming—we just didn't think very hard about what it will mean.
PV cells completely upend this state of affairs. You buy the technology, put it out in the sun, and energy comes to you. With the obvious exception of wind turbines, it's hard to imagine another technology that has those economics. Because of those economic realities, the main problem to be solved was creating a solar harvesting technology that worked affordably. Even those of us who think a lot about the economic implications of solar power have underestimated this reversal of cost flows. We talk about converting a society from running on accumulated energy capital to running on energy income. But often we fail to appreciate just how pleasant such a society COULD be. We just didn't believe.
So now Deutsche Bank has made it official—PV cells are affordable without subsidies. We knew this day was coming—we just didn't think very hard about what it will mean.
Thursday, March 7, 2013
Michael Boskin's neoclassical madness
Michael Boskin has been for me, the idealized Platonic ideal of everything that went wrong with the economics profession ever since—I swear—I saw him on television in 1992 claiming that it wasn't important whether an economy produced computer chips or potato chips. These days, he claims he never said it—I don't wonder that he wants to disassociate himself from perhaps the single stupidest sentence ever uttered by an economist (and trust me, there are MANY worthy competitors for that title.) I don't have access to TV archives and even if I did, I am pretty sure I wouldn't want to go through them to remind me what exactly Boskin said that day. But it really doesn't matter much because he has spent his professional life as if he believed it.
Of course, Boskin was not merely content with selling the de-industrialization of USA to credulous politicians and newspaper editors who should have known better, he now feels compelled to inject himself into the corrupt swamp called "entitlement reform."Manufacturing Policy is NOT “Industrial Policy”
BY ROB ATKINSON · FEBRUARY 6, 2012
During the 1992 presidential election, Bush economic advisor Michael Boskin infamously stated “computer chips, potato chips, what’s the difference” to reflect his disapproval of candidate Bill Clinton’s proposals to support the high-tech industry. Many people at the time scoffed at Boskin’s comment, thinking how could anyone actually believe this. But in fact, many, many people believed it and still do. Those people are called neoclassical economists. For them the market is sacred and all-knowing and any effort by government to “pick winners,” no matter how mild or broad, is doomed to failure and will only make matters worse. For these ideologues the actual industrial composition of an economy is irrelevant. If America ends up with no high-tech manufacturing, or even no manufacturing at all, we are actually better off for it, since this result would have been produced by the all-knowing market. more
Finance capitalism vs. the real economy
When I named this blog "real economics", I was attempting to show that I would write about something other than the stock and bond markets. First of all, almost everyone wrote about the markets and I wanted to occupy another niche. But mostly, I wanted to draw the clear distinction between the moneychangers and the folks who were doing the community's necessary work. And while there are sometimes links between the producers and the gamblers, the link isn't nearly important as the business press would have us believe.
The news that the Dow Jones just set a new record at a time when the real economy staggers along at disaster levels is merely further proof that the link between the real and "paper" economy is almost completely broken.
The following from Naked Capitalism tries to examine the reasons why the link is broken. It's not bad (ht to Fahti) but it is a pretty complicated way of telling us that the thieves killed the goose that laid the golden egg.
The news that the Dow Jones just set a new record at a time when the real economy staggers along at disaster levels is merely further proof that the link between the real and "paper" economy is almost completely broken.
The following from Naked Capitalism tries to examine the reasons why the link is broken. It's not bad (ht to Fahti) but it is a pretty complicated way of telling us that the thieves killed the goose that laid the golden egg.
Wednesday, March 6, 2013
Micro-solar gains traction
I once had a roommate in college who was from Bangladesh. He was a computer science major but his overwhelming interest in life was economic development and we talked about it quite a lot. He once snorted to me, "Our biggest problem is that we have but two sources of power—nuclear and dried dung."
Well folks, time and engineering have given them another choice—solar. Cheaper PVs and LEDs have given rural Indians something they never had before—cheap, non-poluting light. As someone who is old enough to remember people reminisce about rural electrification here in the midwest, this is a BIG deal. Going from kerosine to solar-powered LEDs is a major improvement.
This story is about the NGO micro-finance development schemes to provide light. The assumption here is that this is a good idea now that LED competes economically with kerosine. But because the real fuel, sunlight, is free, this price parity with kerosine will soon become a major price advantage. So at some point, all these clever community organizing schemes will be unnecessary because sunlight is certainly widespread in India—all you need is the equipment to capture it.
One other thing—life changes with good, reliable, lighting. Rural India will never be quite the same again. I hope they are having good discussions about what this all means because it's coming and everyone will want this better lighting—count on it.
Well folks, time and engineering have given them another choice—solar. Cheaper PVs and LEDs have given rural Indians something they never had before—cheap, non-poluting light. As someone who is old enough to remember people reminisce about rural electrification here in the midwest, this is a BIG deal. Going from kerosine to solar-powered LEDs is a major improvement.
This story is about the NGO micro-finance development schemes to provide light. The assumption here is that this is a good idea now that LED competes economically with kerosine. But because the real fuel, sunlight, is free, this price parity with kerosine will soon become a major price advantage. So at some point, all these clever community organizing schemes will be unnecessary because sunlight is certainly widespread in India—all you need is the equipment to capture it.
One other thing—life changes with good, reliable, lighting. Rural India will never be quite the same again. I hope they are having good discussions about what this all means because it's coming and everyone will want this better lighting—count on it.
The battle against finance capitalism heats up
When Veblen postulated that the most important class distinction was between business (the Predators) and industry (the Producers), he probably had no idea that some day, the animus against the Über-Predators would spawn something that resembles a social movement. Yet even now the bankers are wondering—why us? After all, they argue, Steve Jobs was a billionaire and a jerk and the world treated him as a cultural hero when he died.
Well, banksters, the answer is quite simple: You cost WAY too much and your contribution to the advancement of civilization is nearly zero—when it isn't actually negative (which is most of the time). Worst of all, your wretched excess isn't even entertaining—which is perhaps the greatest crime of all. You are ugly people who chose a profession with the credibility of astrology (Adams), whose imaginations are so stunted, you actually believe that widespread artificially-induced privation is a good idea and will use your considerable powers to achieve that outcome while paying yourselves at rates beyond the dreams of unbridled avarice.
What's not to hate?
Well, banksters, the answer is quite simple: You cost WAY too much and your contribution to the advancement of civilization is nearly zero—when it isn't actually negative (which is most of the time). Worst of all, your wretched excess isn't even entertaining—which is perhaps the greatest crime of all. You are ugly people who chose a profession with the credibility of astrology (Adams), whose imaginations are so stunted, you actually believe that widespread artificially-induced privation is a good idea and will use your considerable powers to achieve that outcome while paying yourselves at rates beyond the dreams of unbridled avarice.
What's not to hate?
Tuesday, March 5, 2013
Let it snow
Anyone who has lived in Minnesota for awhile has a tale of a March snowstorm. This one is pretty mild (so far). And we really need this (spring snows are the poor man's fertilizer—according to the northern European proverb.) Not me personally, of course. I am ready for spring. This winter has been a grind.
Eurozone—the good guys win a few
While it has taken far longer than I would have liked, the idea that the greediest, most corrupt vandals in the world of finance should be allowed to make all the important decisions for the economy is slowly, slowly coming to an end. Because I try to celebrate every tiny success the rest of us have at the expense of the Über-Predators, I may in fact come across as more optimistic than is warranted. And as a citizen of USA I must also note that the marchback against the evils of neoliberalism seems to happen most often outside our borders. The easiest explanation for this situation is our two-party system. It just easier to turn the ship of state with a parliamentary democracy.
This first article is about the mechanics of "bailing out" the various failing banks around the world. Taxpayer outrage is demanding that public money must not make gamblers whole. The Dutch may have given us a method that more satisfies the public who rightly believe that their living standards should never drop to pay for the crimes and carelessness of the banksters.
This first article is about the mechanics of "bailing out" the various failing banks around the world. Taxpayer outrage is demanding that public money must not make gamblers whole. The Dutch may have given us a method that more satisfies the public who rightly believe that their living standards should never drop to pay for the crimes and carelessness of the banksters.
Monday, March 4, 2013
Currency wars chip away at the neoliberal consensus
This could get seriously interesting / ugly. After almost two decades of futzing around, Japan announces it is going to get serious about stimulating its economy. Prime Minister Abe wants the Yen to depreciate and deflation to end. He has many tools to accomplish this task but notice, he has used NONE of them so far. All he had to do was talk about a cheaper Yen and the currency markets were happy to drive it down.
Japan's problems have opened up a breathing space that has allowed countries like Korea and China to grab market share in various endeavors. Not surprisingly, it is these two countries that are squawking the loudest about Japan's new economic policies.
Japan's problems have opened up a breathing space that has allowed countries like Korea and China to grab market share in various endeavors. Not surprisingly, it is these two countries that are squawking the loudest about Japan's new economic policies.
Sunday, March 3, 2013
Dilbert describes the banksters
Sometimes I am guilty of over-thinking things—like why the Predator Classes always wind up stealing so much, they kill the goose that lays the golden eggs. Adams, who has been getting to the heart of the matter for some decades, explains why he thinks banksters will always act like banksters.
Warning: Swallow your coffee before continuing.
Warning: Swallow your coffee before continuing.
'DILBERT' CREATOR: Here's Why I Predicted Market Manipulators Will Make The Stock Market Crash 20%
Rob Wile | Mar. 2, 2013
Yesterday, Scott Adams, the creator of world-renowned comic-strip "Dilbert," published a blog post predicting a 20 percent drop-off in financial markets and said stock movements were little more than a conspiracy among Wall Street's elite.
We were a bit surprised to see a cartoonist making a very specific call about a forthcoming "correction."
So we reached out to him to clarify his remarks, and he was kind enough to respond via email.
I'm glad you had the wisdom to get a cartoonist's opinion on global financial markets.There you go. more
The 20% estimate is based on the fact that 20 is a big round number and more likely to happen than 30%. I don't like to over-think these things.
My reasoning is that the people at the highest levels of finance are brilliant people who chose a profession with the credibility of astrology. And they know it. Then they sell their advice to people who don't know it. So that's your cast of characters.
Now consider that the characters - who are literally geniuses in many cases -have an immense financial motive, opportunity, and a near-zero risk of getting caught. How do you think that plays out?
We can only give a guess of the odds that the market is being manipulated. So I ask myself: How often does the fox leave the hen house because he feels that taking an egg would be wrong?
If you have a different answer from mine, I applaud your faith in human nature.
Saturday, March 2, 2013
And forgive us our debts
I want to like Angela Merkel—I really do. We share a birthday (she's five years younger) and we are both Lutheran PKs. So there are times when she reminds me of my sisters. And in spite of being raised in East Germany, she managed to get the historically Catholic CDU with West German / Bavarian roots to make her the head of their party and she then managed to get a reunified country to elect her Prime Minister. We are talking about a very accomplished woman.
I have spent a little time the last couple of days trying to discover what kind of Lutheran her father, Horst Kasner, actually was. He was born in Berlin and married a woman from Danzig, so his roots are Prussian. Part of his theological training came in Hamburg and he spent his professional life essentially working for the Bishop of Hamburg. Typically, Lutheran clergy are politically to the left of their congregations which in the case of Hamburg, is pretty left. It's only a few kilometers to the Danish border and so there are many similarities between Hamburg and the Nordic manifestations of Social Democracy. In addition, Hamburg is a major seaport and long-time unofficial capital of the trading Hanseatic League so it is arguably Germany's most cosmopolitan and outward-looking city.
So when this son of "Red" Berlin and rising figure in the Hamburg bishopric was asked to take a church in East Germany, he went. DDR was officially atheist so the relationship between the government and the churches was always up for grabs. The churches were (barely) tolerated because they were keepers of cultural traditions. And apparently, Kanser was a good teacher / pedagogue so combined with his good socialist credentials, he was able navigate the DDR establishment. One indicator of his social position was that his children were afforded an elite education, unlike the children in other pastors’ families.
Young Angela wound up studying chemistry—a nice, safe, non-political thing to do. She probably heard WAY too many political-theological discussions growing up—which ultimately have served her pretty well, but must have been pure agony as a child. No matter how hard one tries to ignore these things, the lessons of the church tend to stick with us PKs. So I wonder, how many times did she hear her father preach (or merely comment) on the following text—one of the most famous in all of Christendom?
I have spent a little time the last couple of days trying to discover what kind of Lutheran her father, Horst Kasner, actually was. He was born in Berlin and married a woman from Danzig, so his roots are Prussian. Part of his theological training came in Hamburg and he spent his professional life essentially working for the Bishop of Hamburg. Typically, Lutheran clergy are politically to the left of their congregations which in the case of Hamburg, is pretty left. It's only a few kilometers to the Danish border and so there are many similarities between Hamburg and the Nordic manifestations of Social Democracy. In addition, Hamburg is a major seaport and long-time unofficial capital of the trading Hanseatic League so it is arguably Germany's most cosmopolitan and outward-looking city.
So when this son of "Red" Berlin and rising figure in the Hamburg bishopric was asked to take a church in East Germany, he went. DDR was officially atheist so the relationship between the government and the churches was always up for grabs. The churches were (barely) tolerated because they were keepers of cultural traditions. And apparently, Kanser was a good teacher / pedagogue so combined with his good socialist credentials, he was able navigate the DDR establishment. One indicator of his social position was that his children were afforded an elite education, unlike the children in other pastors’ families.
Young Angela wound up studying chemistry—a nice, safe, non-political thing to do. She probably heard WAY too many political-theological discussions growing up—which ultimately have served her pretty well, but must have been pure agony as a child. No matter how hard one tries to ignore these things, the lessons of the church tend to stick with us PKs. So I wonder, how many times did she hear her father preach (or merely comment) on the following text—one of the most famous in all of Christendom?
Matthew 18:23-34 (KJV)The reason this question is very interesting is because the preacher's daughter is now in the position of the ungrateful servant whose country was historically blessed by a massive debt restructuring 60 years ago but now runs around preaching a new "gospel" that countries like Greece, Spain or Italy must pay every cent they "owe"—especially to the German banks. I wonder if she truly understands just how strongly her religious traditions condemn her current behavior? Sometimes we PKs let our minds wander just when we should have paid attention. I believe, Ms. Merkel, this is one of those times.
[23] Therefore is the kingdom of heaven likened unto a certain king, which would take account of his servants.
[24] And when he had begun to reckon, one was brought unto him, which owed him ten thousand talents.
[25] But forasmuch as he had not to pay, his lord commanded him to be sold, and his wife, and children, and all that he had, and payment to be made.
[26] The servant therefore fell down, and worshipped him, saying, Lord, have patience with me, and I will pay thee all.
[27] Then the lord of that servant was moved with compassion, and loosed him, and forgave him the debt.
[28] But the same servant went out, and found one of his fellowservants, which owed him an hundred pence: and he laid hands on him, and took him by the throat, saying, Pay me that thou owest.
[29] And his fellowservant fell down at his feet, and besought him, saying, Have patience with me, and I will pay thee all.
[30] And he would not: but went and cast him into prison, till he should pay the debt.
[31] So when his fellowservants saw what was done, they were very sorry, and came and told unto their lord all that was done.
[32] Then his lord, after that he had called him, said unto him, O thou wicked servant, I forgave thee all that debt, because thou desiredst me:
[33] Shouldest not thou also have had compassion on thy fellowservant, even as I had pity on thee?
[34] And his lord was wroth, and delivered him to the tormentors, till he should pay all that was due unto him.
Grillo demands debt restructuring
Beppo Grillo may be called a clown, but he is willing to take on the most serious subject of them all—debt and the Italian economy. What I find so interesting is that both Grillo and Philipp Roesler, Germany's Economy Minister tell us that when it comes to Italian debt and how it is handled, There Is No Alternative.
Friday, March 1, 2013
Banksters—Alpha predators or welfare kings?
To listen to our bankster friends explain it, they are more important to our economy than oxygen. It's why the think they deserve such outsized rewards for doing their jobs.
In fact, only about 1% of their work is actually useful and in spite of crazy interest rates on student loans and credit card debt, they wouldn't be profitable without massive injections of taxpayer money. It's hard to beat the combination of uselessness and expensive for Predator virtue. This combination also explains why banksters are so universally loathed.
In fact, only about 1% of their work is actually useful and in spite of crazy interest rates on student loans and credit card debt, they wouldn't be profitable without massive injections of taxpayer money. It's hard to beat the combination of uselessness and expensive for Predator virtue. This combination also explains why banksters are so universally loathed.
Better pylons
This story is beyond interesting. One of the BIG impediments to a wider adaptation of renewable energy is the fact that the really good sites are in deserts and off windy coastlines. It's one thing to collect the various forms of solar power—it quite another to be able to deliver this energy to where people really need it. And considering how many people absolutely hate the big power transmission lines, the less you have to build of them the better.
So some engineers at the University of Manchester took a look at how we build our big pylons and concluded that by insulating the cross arms, other significant improvements could be made that would dramatically increase the efficiency of the power grid.
This is a pretty simple upgrade. It is a capital expense so getting this done right away is a problem. And the claims for increased efficiency might be overstated—inventors relying of modeling tend to get a little carried away. But even if it doesn't increase the transmission efficiency of the grid by 250%, it's probably worth doing considering what engineers will go through to get a 2% increase. And unlike a lot of claimed improvements out there, this one seems to have no real reason why it wouldn't work. Of course, this is Britain which is known for its breakthrough conceptual thinking and its so-so track record for execution. If this really works as advertised, you can count on the idea being shamelessly copied.
So some engineers at the University of Manchester took a look at how we build our big pylons and concluded that by insulating the cross arms, other significant improvements could be made that would dramatically increase the efficiency of the power grid.
This is a pretty simple upgrade. It is a capital expense so getting this done right away is a problem. And the claims for increased efficiency might be overstated—inventors relying of modeling tend to get a little carried away. But even if it doesn't increase the transmission efficiency of the grid by 250%, it's probably worth doing considering what engineers will go through to get a 2% increase. And unlike a lot of claimed improvements out there, this one seems to have no real reason why it wouldn't work. Of course, this is Britain which is known for its breakthrough conceptual thinking and its so-so track record for execution. If this really works as advertised, you can count on the idea being shamelessly copied.
Thursday, February 28, 2013
Lessons from Italy's election
It's pretty damn obvious what happened in Italy. An unelected neoliberal economist named Mario Monti was installed as her prime minister a year ago to make certain the German banks wouldn't fail. The banksters loved his willingness to impose great suffering on the Italian people. And if they loved him, the bought and paid for economists and their brethren in the corporate press loved him—calling his economic calamities the height of responsible behavior.
Not surprisingly, the victims of EU neoliberalism wanted Monti and his thinking gone! The question is, How do you do this? This is an especially interesting question because the folks suffering this time around are the productive middle classes who don't want a revolution, they just want to be able to live their lives and do their work. So they voted for a professional comedian. Hey, we did it here in Minnesota and while Al Franken isn't exactly Floyd B. Olson, there are actually US Senators who are doing worse jobs.
And this is what the sober Predator Class press around the world is calling an outbreak of "wildcat populism." Mercy me. I believe some of these folks are about to get the vapors. As well they might—after all, if the victims start exacting revenge at anywhere near the levels of their suffering, things could get seriously ugly for the rip-off artists who have presently gained control of the important economic levers.
But you can relax banksters—I have not seen anyone suggest bringing back crucifixions for you thieving vandals...yet. So far, they have only voted for an energetic jester. Get a grip. And oh yeah, straighten up your act before someone thinks of that crucifixion idea.
Not surprisingly, the victims of EU neoliberalism wanted Monti and his thinking gone! The question is, How do you do this? This is an especially interesting question because the folks suffering this time around are the productive middle classes who don't want a revolution, they just want to be able to live their lives and do their work. So they voted for a professional comedian. Hey, we did it here in Minnesota and while Al Franken isn't exactly Floyd B. Olson, there are actually US Senators who are doing worse jobs.
And this is what the sober Predator Class press around the world is calling an outbreak of "wildcat populism." Mercy me. I believe some of these folks are about to get the vapors. As well they might—after all, if the victims start exacting revenge at anywhere near the levels of their suffering, things could get seriously ugly for the rip-off artists who have presently gained control of the important economic levers.
But you can relax banksters—I have not seen anyone suggest bringing back crucifixions for you thieving vandals...yet. So far, they have only voted for an energetic jester. Get a grip. And oh yeah, straighten up your act before someone thinks of that crucifixion idea.
Wednesday, February 27, 2013
Bank of Japan is serious about ending deflation
PM Abe is serious about his plans to end Japan's economic woes. After all, any country that works as hard as the Japanese and produce so much excellence SHOULD be prosperous. If they are not, it is obvious that something is gumming up the works. The idea that the "something" is medieval thinking over at the central bank is likely to be spot on. And why should we believe that prosperity will return with a more enlightened central bank? 1) Historical examples—when progressives like Marriner Eccles and folks like him ran central banks, things got better. 2) We have been experimenting with reactionary neoliberalism since the glory days of Thatcher and company. Whether you call it neoliberalism or voodoo economics, it is a failure by any objective measure. We gave it a 35+ year shot—time to try something else.
The most efficient way to change the economic game—by FAR—is reform at the central banks. We are literally destroying lives AND the planet because we live in societies that select for one of its most important occupations—central banker—people who are profoundly ignorant about how the real economy works, devoted to crazy religious ideas with the fervor of monks, and more arrogant than the Pope's red Prada loafers.
Now IF we can replace the ignorant-devoted-arrogant crowd with folks who understand the problems of nation-building, the rest of us can go back to work and leading our lives. I mean, we COULD have a revolution or some other civic upheaval but if that revolution doesn't lead to more enlightened monetary policies, it's pretty much a waste of time. So why not just jump ahead to a better central banker? And since most of the folks employed by central banks are good sycophants anyway, a change in leadership at such institutions actually makes a big difference.
Getting a new central banker with a different worldview is what Abe intends to do in Japan. I predict this move will be wildly successful. There is AMPLE evidence to support this view. It's good to bet on plans that are supported by both theory and a track record. I drive a 17 year old Lexus that is still nearly perfect so I get a regular demonstration of what the Japanese believe to be possible. This is a nation of Lexus-builders—they DESERVE a central banker who understands this.
And it looks like they may be getting one.
The most efficient way to change the economic game—by FAR—is reform at the central banks. We are literally destroying lives AND the planet because we live in societies that select for one of its most important occupations—central banker—people who are profoundly ignorant about how the real economy works, devoted to crazy religious ideas with the fervor of monks, and more arrogant than the Pope's red Prada loafers.
Now IF we can replace the ignorant-devoted-arrogant crowd with folks who understand the problems of nation-building, the rest of us can go back to work and leading our lives. I mean, we COULD have a revolution or some other civic upheaval but if that revolution doesn't lead to more enlightened monetary policies, it's pretty much a waste of time. So why not just jump ahead to a better central banker? And since most of the folks employed by central banks are good sycophants anyway, a change in leadership at such institutions actually makes a big difference.
Getting a new central banker with a different worldview is what Abe intends to do in Japan. I predict this move will be wildly successful. There is AMPLE evidence to support this view. It's good to bet on plans that are supported by both theory and a track record. I drive a 17 year old Lexus that is still nearly perfect so I get a regular demonstration of what the Japanese believe to be possible. This is a nation of Lexus-builders—they DESERVE a central banker who understands this.
And it looks like they may be getting one.
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