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Old 02-23-2014, 05:37 AM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 3,338
Morality and commerce

"Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other."
John Adams
LOTS more quotes;
Quotes on Liberty and Virtue

A pure gold standard would bring back some discipline but, it wouldn't bring back morality.

General Douglas MacArthur warned in a speech to the Salvation Army, December 12, 1951, stating:
“History fails to record a single precedent in which nations subject to moral decay have not passed into political and economic decline.
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"Three important trends demonstrate moral decay. They
are the "rise in immorality," the "decay of religious belief," and the
"devaluing of human life."

The classic study of Roman civilization, The Decline and Fall of the Roman Empire,
written by English historian Edward Gibbon was published in that famous
year of 1776. He "observed that the leaders of the empire gave into the
vices of strangers, morals collapsed, laws became oppressive, and the
abuse of power made the nation vulnerable to the barbarian hordes."{9}"

"Life became cheap in the latter days of the Roman Empire.
Burdensome regulation and taxes made manufacturing and trade
unprofitable."
When Nations Die - Probe Ministries

Crony capitalism and corporatism waste our physical and human capital. It is dissipated down to nothing. Look at youth unemployment. What happens to a society when you tell the young that they have no future. Moral decay combined with Marxism is a sure road to poverty. Where does that leave us?

The number of banks is the lowest since records have been kept. What about Western commerce?

"Wall Street’s growing legions of analysts might have overlooked
one reason the stock market has risen in recent years: The U.S. stock
market itself is shrinking. At the end of last year, 5,008 stocks traded
on U.S. exchanges, down 44% from a peak of 8,884 in 1997, according to
the World Federation of Exchanges. Similarly, there were only 3,776
stocks in the Wilshire 5000 stock index, the broadest gauge of the U.S.
equity market, which also peaked in 1997, with 7,459 stocks.

What’s more, the number of outstanding shares of stock available to
be bought or sold has shrunk by nearly 10% since the end of 2010,
according to S&P Dow Jones Indices."

".....following the 2008 financial crisis and the Great Recession, when
close to 1,000 more stocks disappeared from exchanges, according to the
WFE.
That steep drop was due in part to fewer companies going
public, with investor fear, as well as rising costs, increased scrutiny
and more stringent regulations from the federal government"
Debt Rattle Feb 18 2014: The Best And Brightest Among Us Are Not - The Automatic Earth

The corporatocracy is firmly focused on eliminating it's competition. After it eliminates small business and destroys the fabric of society, it may find that the resulting moral collapse is unsurvivable.

I found a couple more interesting articles.
Ambrose; "
People laughed at the Observatoire. Nobody is laughing any more. As
the IMF said last night, Europe is one external shock away from a lurch
into outright deflation."
France is looking straight down the barrel of a deflation shock – Telegraph Blogs

Deflation huh? That is what happens when you pi$$ away capital on consumption rather than on investment.

Another interesting article from Ambrose. We all know that QE caused emerging markets to grow at about 18%. Taper talk that is mostly talk is causing HUGE capital outflows from EMs. While there is a bit of taper, it is more than made up for by LTROs and repos. Evidently, talk alone was able to cause these outflows. Now, it appears that these outflows and the resulting EM deflation is coming back to our shores;
"Analysts are slashing their forecasts at an "all-time record rate –
this is wholly inconsistent with talk of economic acceleration".

"The dire profits situation will only get worse as EM implodes and
waves of deflation flow from Asia to overwhelm the fragile situation in
the US and Europe."
""Even if the Fed resumes massive QE at some point as the world melts
down, and markets desperately attempt their return to the dream trance,
they will instead find themselves locked into a Freddy Krueger-like
nightmare in which phase 3 of this secular bear market takes equity
valuations down to levels not seen for a generation."
SocGen bear growls: deflation shock-wave from Asia to trigger global recession – Telegraph Blogs

The economy is shrinking,,, in spite of what you may have heard about green shoots The U.S. is producing less electricity than it did seven years ago for a population that has added more than 14 million people. - See more at: Electricity Price Index Soars to New Record at Start of 2014; U.S. Electricity Production Declining | CNS News

Haile Selassie
"He who would be a leader must pay the price in self-discipline and moral restraints. This details the correction and improvement of his personal character, the checking of passions and desires and an exemplary control of one's bodily needs and desires"
Haile Selassie Quotes
I don't think that he had Bill Clinton in mind.
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