Perhaps the ‘I don’t know whether to shit or go blind’ stock market is typical of what happens just before the entire (and I’m being kind here) ‘financial system’ implodes.
And I do mean ‘entire’; the coming train wreck will be more than just a local phenomenon…and this too is no ‘accident’.
Naturally, I keep bringing this up because I fully expect these people (and their sympathizers) to be hunted down and brought to justice. (I, sadly, believe this is a task that will mimic the hunt for Nazi war criminals that was both global in its scope and decades in duration. However, even if it takes decades to bring the criminals to trial, justice itself will be swift due to the instantaneous stripping of their ill gotten gains.)
But I once again digress…
Let us ponder, just for a moment, what things might look like right before the wheels come flying off, shall we?
We already know the ‘Justice Department’ is filled with thugs so this story should come as no surprise to anyone who has been paying even a tiny bit of attention to the deplorable state of our republic.
The domestic ship owners say that 46 times the administration has waived the Jones Act, a 90-year-old law requiring purely domestic cargo to move on United States-flagged ships except under extraordinary circumstances. Only once this summer has oil from the reserve moved on American barges.
Even as unemployment hovered over 9 percent, the administration approved dozens of applications to transport nearly 30 million barrels of domestic crude oil within the borders of the United States on tankers employing foreign crews and flying the flags of the Marshall Islands, Panama and other countries.
The move, which saved time and money for the oil companies that bought the oil , took potential work from more than 30 American cargo vessels and as many as 400 sailors, American ship owners said in recent days.
Laws? We don’t need no stinking laws!
How ironic is it that this sort of laissez-faire attitude is the exact same concept that is embraced by Tea Party Republicans (a.k.a. Libertarians) while being universally reviled when the anarchists (as defined by capitalists!) express it.
And I’m not trying to have it both ways…there are two types of Anarchy, one is a ‘propagandized’ version that preaches ’total freedom’ which appeals to the young and the stupid while the other is the ‘true’ anarchy of ‘rules without rulers’ (the variety that I subscribe to, A Simple Plan is nothing if not a set of ‘rules’!)
As we can see from ‘Republican grandstanding’, ‘total freedom’ is incompatible with ‘civil society’.
Rules optional cannot co-exist with a sustainable civilization. It is the widespread unwillingness to follow the rules that has caused the current civilization to be brought to the verge of collapse!
So tell me, good citizen Do you see the ‘red flag’ here?
I have to credit the influence of the thoughtful blog of a well-to-do American entrepreneur and military strategist, and especially this particular posting. Central Planning and the Fall of US Empire
Capitalism's path back from the self-perpetuating central planning will require a more equitable, or at least a less inequitable, distribution of wealth and power, by which to rebuild the middle class and promote decision making based on individual choice and a more widely based entrepreneurial meritocracy. Which is what Roubini was complaining about, in saying that too much wealth was being redistributed from labour to capital.
It would be a terrible irony if Marx was proven correct, and unchecked capitalism destroyed itself by evolving the self-crippling features of a centrally planned communist economy. One can only hope that we can reform our current market systems before things get worse.
Worse (at least to me) is the Libertarian thinking behind this accusation of ‘central planning’.
Understand that these nitwits believe in Capitalist Utopia (which cannot exist without reverting to a pre-colonial lifestyle and killing off billions, but they don‘t give a fuck!)
I hate to be the one to break it to slinky-dink but in this one thing, Marx was indeed correct, what he’s missing is it is NOT ‘central planning’ that is fucking up the markets, but the very unnatural enforcement of monopoly.
You see, Libbies aren’t very good at spotting contradictions in their philosophy just as they fail to see the contradictions that make capitalist utopia impossible.
Thus do they fail to differentiate captive markets from ‘central planning.’
Which is to say there’s a plan all right but it don’t have nothing to do Communism!
Finally, we have this succinct piece from Demetrius of Cynical Tendency fame:
The US site Money and Markets is talking happily about the Ultimate Financial Catastrophe and suggests what it might be best to do. This is puzzling, since in a real catastrophe everybody goes down. It is one thing to be rich in a working society; it is another to hold paper wealth in a collapsed society.
Roubini is saying that Marx might have been right about some things. The problem is all the things he was wrong about. The Oil Drum takes issue with the US Presidential hopeful, Ms. Bachmann who is promising that “gas”, petrol to us, can go back to less that $2 a gallon. Here in the UK it is around $9 a gallon.
With inflation beginning, the Bank of America in free fall, disruptions of one thing or another pending, Banks putting their dud paper into pension funds and the issues over the Euro now much greater together with the perils of some major states supplying oil, the only certainty is uncertainty.
Um, did I mention that when she blows, she’s gonna take out the whole deal?
UNDERSTAND that the ass-bandits responsible for this want YOU to support the return of a Christian Monarchy, where it will be a CRIME to ‘complain’ about your ‘god given’ lot in life.
It didn’t fly the first time, why they think this time is different remains baffling.
Thanks for letting me inside your head,
Gegner
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