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Old 07-11-2018, 03:06 PM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,496
How to bring back morality?

Douglas MacArthur (1880-1964), Supreme Commander of the Allied forces in the Pacific during World War II, stated, “History fails to record a single precedent in which nations subject to moral decay have not passed in to political and economic decline."
Just as honest people tend to aggregate, dishonest people tend to surround themselves by easily corrupted people. If everybody is a crook, they are all trying to steal everything in sight. When the fruits of your labor are serially stolen, you stop producing anything extra. The predations of the corporatocracy bring EXACTLY the same results as socialism. Socialism brings a moribund economy with little productivity.
The corporatocracy brings us to the same outcome,,, by a different route.

The State prints extra money to keep the working class solvent so we ignore the constant predations from the corporations. No corporation can be expected to make moral decisions unless the officers are moral. Chances are, these officers can't make moral decisions and still be able to compete with other corporations that are immoral.
There is something to be said for a State run by royalty. They rule the State by birthright and, are more difficult to corrupt.

Hammurabi is an example. He wrote a code of laws that held everybody accountable for their actions. The EXACT opposite of what the corporate construct accomplishes. After the 2008 crash, only one banker went to jail.
Fascism, "the marriage of big business and, big government".
The corporatocracy has removed all moral hazard. The Central Bank has effectively removed all financial hazard. BUT, only in a temporary manner. We will have a return to financial hazard. What would it take to return our society to moral hazard?

Kunstler, "The collapse of our techno-industrial set-up has actually been going on for some time, insidiously and corrosively, without shattering the scaffolds of seeming normality, just stealthily undermining them. I’d date the onset of it to about 2005 when the world unknowingly crossed an invisible border into the terra incognito of peak oil, by which, of course, I mean oil that societies could no longer afford to pull out of the ground. "
"The techno-narcissistic nonsense reverberating through the echo-chambers of business, media, and government aims to furnish that nostrum called “hope” to a nation that simply won’t admit darker outcomes to the terrible limits facing humanity."

"I expect the collapse to pick up more momentum as we turn the corner around summer. The system that we have most willfully abused and perverted is finance. This monster that so many observers call “capitalism” is just a set of methods for managing surplus wealth — the catch being that nothing nearly this complex has ever been seen before in history and is a pure product of the 200-year-long industrial orgy driven by fossil fuels. That is, the world never before accumulated so much surplus wealth in such a short span of time."
When Collapse Goes Kinetic - Kunstler

Kunstler calls for a downturn after this summer. Look at this graph and, decide for your selves.
Powell plans to ignore the yield curve and forge ahead with rate hikes. It is going to get messy.
"Bloomberg's markets recession model, which translates how various asset classes are trading into recession probabilities, now flags the next recession to take place in 12-24 months. More importantly, the start of the recession is more likely to be in the next 12 months rather than in two years."

"#3: As commercial and central banks devalue the dollar “currency risk” affects the debt markets and interest rates rise. Higher rates applied to $230 trillion of global debt require larger debt service payments and “squeeze” debtors including all sovereign governments."
"Debt is too large. Either sovereign debt will default (unthinkable) or will be paid with devalued currencies. Argentina “over-printed” and dropped 13 zeros from their inflated currency during the past 70 years."
"As George Bernard Shaw said, “You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government."

The yield curve is also showing a recession in the not-to-distant future.

7/11 Asian markets plunge after tariff list news; China stocks take a hit – CNBC
7/11 US futures slip as Trump seeks tariffs on $200 billion in Chinese goods – CNBC
7/11 Every $1 in debt generates just 44 cents in economic output – Sovereign Man
7/11 Leveraged loan risks are piling up – Wolf Street
7/11 The most hawkish Fed ever? – Silver Phoenix
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