Self-Extermination

Greetings good citizen,

The hard won holiday has ceased activity on the NYSE, sparing the world from its toxic influence.

Um, a (now long neglected) common theme of my posts is desperation. People will do unimaginable acts of violence if they are ‘desperate’ enough.

It underlies everything I predict, such is the incredible ‘power’ of desperation. Increasingly we are seeing the acts of the desperate and the cowardly corporate owned media is covering them up as the random acts of the ‘psychologically unstable’ (which the feckless capitalists abandoned shortly after ‘privatizing’ health care.) Yet another stick pin on the social map with St. Ronnie’s name on it!

It may be just me but ‘gold bugs’ are very practical when it comes to money (although they don’t get the ‘funny’ part, which sort of erases the appeal of their arguments regarding the ‘conservation of value’.)

Then we have guys like Mr. Hedges here, who have their fingers firmly on the pulse of civilization but take the same ‘wicked left’ when it comes to solving those problems.

How blind do you have to be to see that only the truly wicked claim to ‘speak for God’?

Republicans regularly go ‘on record’ as having had ‘personal dialog’ with ‘the supreme being.’

In most circles this is evidence of insanity but not in US politics where the feckless corporate owned media is involved!

But I, as usual, digress. Let us move forward with today’s offering:

Complex civilizations have a bad habit of destroying themselves. Anthropologists including Joseph Tainter in “The Collapse of Complex Societies,” Charles L. Redman in “Human Impact on Ancient Environments” and Ronald Wright in “A Short History of Progress” have laid out the familiar patterns that lead to systems breakdown. The difference this time is that when we go down the whole planet will go with us. There will, with this final collapse, be no new lands left to exploit, no new civilizations to conquer, no new peoples to subjugate. The long struggle between the human species and the Earth will conclude with the remnants of the human species learning a painful lesson about unrestrained greed and self-worship.

“There is a pattern in the past of civilization after civilization wearing out its welcome from nature, overexploiting its environment, overexpanding, overpopulating,” Wright said when I reached him by phone at his home in British Columbia, Canada. “They tend to collapse quite soon after they reach their period of greatest magnificence and prosperity. That pattern holds good for a lot of societies, among them the Romans, the ancient Maya and the Sumerians of what is now southern Iraq. There are many other examples, including smaller-scale societies such as Easter Island. The very things that cause societies to prosper in the short run, especially new ways to exploit the environment such as the invention of irrigation, lead to disaster in the long run because of unforeseen complications. This is what I called in ‘A Short History of Progress’ the ‘progress trap.’ We have set in motion an industrial machine of such complexity and such dependence on expansion that we do not know how to make do with less or move to a steady state in terms of our demands on nature. We have failed to control human numbers. They have tripled in my lifetime. And the problem is made much worse by the widening gap between rich and poor, the upward concentration of wealth, which ensures there can never be enough to go around. The number of people in dire poverty today—about 2 billion—is greater than the world’s entire population in the early 1900s. That’s not progress.”

As Mr. Hedges indicates, there WILL be a ‘kill-off’ that will be disguised as a ‘Die-off’ (through gross mismanagement.)

Worse, the bought and paid for media will play it as a ‘natural disaster’…although the capitalist’s deliberate mismanagement of the economy has already begun the nutritional squeeze that will lead to the most devastating ‘global pandemic’ the world has ever seen.

Slip an unintended whoopsie in there (such as a real ‘natural disaster’) and it could spell extinction for our already ‘reproduction challenged’ base population.

But the ‘What if’ game is always a ‘dead-end’, we won’t ‘know’ until we get there.

Worse, the rhetoric surrounding climate change has taken on a harder edge, which is making it less credible. Global warming didn’t kill the dinosaurs and it sure isn’t going to kill us!

Which is to opine that we won’t ALL drown and sustainability (along with what it takes to get there) remains an ‘unknown’.

If we are to save ourselves from extinction (by self-extermination) we must manage the resources that remain to reduce desperation to an absolute minimum. (It wouldn’t hurt to put the brakes on the predatory capitalist's worship of gratuitous violence either! The hatred and the killing of your own species is a learned thing, it is NOT natural.)

The article misses another important point and that has been the cessation of all ‘forward scientific advance’ to preserve the ‘patents’ (profitability) of past discoveries.

Again, we need to refocus on the definition of ‘progress’ as the benefit reaped by all mankind from discovery and research rather than the imaginary benefit reaped by a few over the rest of us.

So we have it that stagnation, driven by self-interest, has resulted in creeping ‘desperation' that is shredding the fabric of our civilization…so ‘a few’ can be ‘rich’.

When true progress makes us ALL rich!

Thanks for letting me inside your head,

Gegner

Sanitized...

Greetings good citizen,

Instead of the usual run down of the financial headlines, what jumped at me this morning but this article, written by one of the most clueless economists ever to hold a seat on the Federal Reserve Board.

I only clipped the end of the whole article to give you an idea, a ‘taste’ if you will.

Financial Collapse: A 10-Step Recovery Plan

The meek won’t inherit their fair share of the earth if they are constantly being fleeced. What we learned in the crisis is that failure to protect unsophisticated consumers from financial predators can undermine the whole economy. That surprising lesson mustn’t be forgotten. The Consumer Financial Protection Bureau should institutionalize it.

Mark Twain is said to have quipped that while history doesn’t repeat itself, it does rhyme. There will be financial crises in the future, and the next one won’t be a carbon copy of the last. Neither, however, will it be so different that these commandments won’t apply. Financial history does rhyme, but we’re already forgetting the meter.

Alan S. Blinder is a professor of economics and public affairs at Princeton, a former vice chairman of the Federal Reserve and the author of “After the Music Stopped: The Financial Crisis, the Response and the Work Ahead.”

His advice in the snippet is surprisingly ‘sound’ (if you believe, as he obviously does, that capitalism can be ‘salvaged’.)

And you already know my position on that particular topic, it can’t and there is no sense in trying…or worse, pretending that there is ‘no alternative’.

Although you won’t find a capitalist who believes such a thing exists, how ironic is it that the part these people love the most about Capitalism is the ‘my way or the highway’ part?

Should you click through to read the article you will find that bullet point number one blames the consumer for ‘regulatory capture’ by making the point ‘Remember that People forget’.

Worse, there is a whole generation coming of age that has no idea what a moron/‘tool’ Ronald Reagan was.

All they know is how dysfunctional our current political system is and they’ll (hopefully, for the usurpers sake) be eager to embrace a ‘more traditional’ form of governance.

(And the elites who were ‘disappointed’ when Washington turned down the crown will have their day!)

There is a reason why the role-playing video world is dominated by medieval culture. It was the time of ‘kings’ and who but our Royal Wannabes wants to step out of their nations' treasuries and ‘take charge’ of the kingdoms their (alleged) great (yada-yada) grand-parents walked away from so long ago.

And it's been the video game industry that has 'glorified' monarchy and popularized the notion that a commoner can, through noble deeds, become an accepted member of the 'noble gentry.'

They want to ‘help’ us good citizen but first you have to want their help and be willing to surrender you’re ‘right to choose’ which you weren’t using ‘properly’ in the first place.

(I wonder why we weren’t ‘using it properly’? Could it be ‘the framers’ put power safely out of the citizen’s reach?)

Rumor has it there were some ‘arguments’ over this decision but the proof is in the pudding and we can plainly see which side ‘won’.

Central to the dominance of the criminals over our species is the idea that we CAN’T rule ourselves, we NEED them to tell us not only what to do but how to do it.

This is just what it looks like, a self-serving lie.

How unfortunate is it for the rest of us that only a few need to be, er, ‘persuaded’ to go along with this outrageous idea while the rest of us are forced into bloody revolution to throw off the yoke of the criminal tyrants?

Take a hard look good citizen, the only missing piece is naming (and subsequently crowning) the ‘new king’.

In case you were wondering, there will be no ‘elections’…worse, discussion of the monarch’s ‘fitness to rule’ will be ‘strictly prohibited’.

But wait good citizen, the nightmare is only beginning! The ‘new monarchy’ will make a big display of putting every ‘royal decision’ to a public vote…but, (and this is the but that caused the original downfall of monarchy) we will have the return of the ‘infallibility of the monarch’.

What good is being king if it’s not ‘my way or the highway’?

So the monarch will modify whatever policy proposal is before him 'to his liking' regardless of what YOU think of it. Which is to point out the whole voting thing will be a mockery to beat you over the head with!

And don't even entertain the notion of not voting. It will be mandatory.

Worse, the King (or Queen, if they think a female will be more malleable/easily embraced by the public.) will still be subject to that age-old nemesis ‘intrigue’.

For those of you unfamiliar with this term it basically means your relatives, especially those in line to 'inherit' the crown, will kill you if they think they can get away with it.

Remember, once you’re king you can derail royal investigations with the snap of your fingers…(or the wave of your hand if snapping is too much for you.)

After everybody moves up the ladder, the ‘next in line’ clan does whatever it can to pin the former regent’s death on the new one…if they succeed, Yachtzee!

But people are ‘buy-able’ as our current ‘cleptocracy’ has proven repeatedly.

Meanwhile, the culprit in the last regent’s untimely demise has been made a Duke, making them virtually unassailable.

And under the ‘law of unintended consequences’ we find ourselves faced with the classic “meet the new boss, same as the old boss!” scenario.

All because today’s kids are ‘unaware’ that Ronald Reagan (and by extension, W.) should never have been president.

This is what happens when money contaminates the electoral process.

Worse good citizen, it is already ‘too late’.

The ONLY way to ‘fix’ this mess is to flush it down the toilet and start over (while the criminals learn to cha-cha with the Gila monsters!)

Thanks for letting me inside your head,

Gegner

Led by Charlatains

Greetings good citizen,

It is hilarious that the so-called ‘Progressives’ are accusing the conservo-whackos of living in a ‘permanent fantasy world’ when they persist in serving up tripe like this…

Before we begin this latest excursion into ‘wishful thinking’ let me repeat my ‘mantra’, there is NO WAY to ‘fix’ capitalism with capitalism! All of the fixes are ‘predatory’ too!

6 Economic Steps to a Better Life and Real Prosperity for All
We've got to break out of the old ways of thinking about the economy.

Step one.) A People’s Bank
One area where this logic can be seen at work is in the financial industry. At the height of the financial crisis in early 2009, some kind of nationalization of the banks seemed possible. It was a moment, President Obama told banking CEOs, when his administration was “the only thing between you and the pitchforks.” The president opted for a soft bailout, but that was not the only possible decision.

Banking is ‘personal’ yet the capitalists have turned it into a ‘profit center’ (for themselves) by forcing the rest of us to pay outrageous prices for what we can’t do without.

How do you think a ‘People’s bank’ is going to solve this?

It won’t because it can’t. Nationalizing the banks wouldn’t make them any less predatory. They would still operate on the principle of borrow cheap and lend dear.

The ‘real alternative’ to predatory banking is to make banking an internal function of the payroll process. Your money ‘stays put’. They don’t lend it to anybody (they don’t need to.) We won’t stop the capitalist ‘crazy train’ until we put the brakes on the insane practice of money making money!

Then we get banks out of the ‘lending business’ because all of the things you needed to ‘borrow money’ for are…‘gimmes’!

If you step back and look at it good citizen, the whole borrowing process is nothing but an elaborate extortion scheme…but what would you expect from CRIMINALS?

Moving on:

Step Two.) Move to Universal Healthcare

That austerity and failing reform might open the way to "evolutionary reconstructive" institutional change is also suggested by emerging developments in healthcare.

Cost pressures are also building up—and, critically, in ways that will continue to undermine U.S. corporations facing global competitors, forcing them to seek new solutions. The federal Center for Medicare and Medicaid Services projects that healthcare costs will go up from the 2010 level of 17.5 percent of GDP to 19.6 percent in 2019. It has long been clear that over the long-haul cost pressures are ultimately likely to force development of some form of single-payer system —the only serious way to deal with the underlying problem.

Again, under a ‘sane’ system, healthcare would be FREE, but that’s not what dummy is proposing here, is it?

How sad is it that Plato’s ‘unimaginative worldview’ persists to this day? (He couldn’t imagine a world without slaves.)

But anyway:

Step Three.) Build Community Wealth

“Social enterprises” that undertake businesses in order to support specific social missions now increasingly comprise what is sometimes called a "fourth sector” (different from the government, business and non-profit sectors). Roughly 4,500 not-for-profit community development corporations are largely devoted to housing development. There are now also more than 10,000 businesses owned in whole or part by their employees; nearly 3 million more individuals are involved in these enterprises than are members of private sector unions. Another 130 million Americans are members of various urban, agricultural and credit union cooperatives. In many cities, “land trusts” are underway using an institutional form of nonprofit or municipal ownership that develops and maintains low- and moderate-income housing.

I find myself speechless with the utter ‘blindness’ the above bullet point displays. We’re talking ‘whales and tic tacs’ here! All I have to say is see my initial ‘mantra’ and hold that up to this (capitalism saving) proposal!

Those ‘pretending’ to be Progressives are in fact Libertarians, free-market lovers to the end!

But I digress:

Step Four.) Leverage City Assets [!!]

Yet another arena of institutional growth involves municipal development. By maintaining direct ownership of areas surrounding transit station exits, public agencies in Washington, DC, Atlanta and elsewhere earn millions, capturing the increased land values their transit investments create. The town of Riverview, Michigan has been a national leader in trapping methane from its landfills and using it to fuel electricity generation, thereby providing both revenue and jobs. There are roughly 500 similar projects nationwide. Many cities have established municipally owned hotels. There are also nearly 2,000 publicly owned utilities that provide power (and often broadband) to more than 45 million Americans, generating $50 billion in annual revenue. Significant public institutions are also common at the state level. CalPERS, California’s public pension authority, helps finance local community development needs; in Alaska, state oil revenues provide each citizen with dividends as a matter of right; in Alabama, public pension investing has long focused on state economic development.

Rope-a-dope has the whole situation wrong! The only reason the capitalists ‘gave away’ free internet and in some cases free electricity was to boost the sale of portables and hand helds!

There have been some mighty expensive ‘ruses’ perpetrated on the public to mask the fact that our economy was being gutted and this dummy is just keeps falling into the traps left and right!

Next!

Step Five.) Organize for the Long Haul

You can think of the slow buildup of democratizing strategies as the pre-historical developmental work needed to clarify new principles for larger scale application. Just as in the decades before the New Deal, state and local experiments in the “laboratories of democracy” may suggest new larger scale approaches. The new direction has four aspects; democratization of wealth; community, both locally and in general; decentralization in general; and substantial but not complete forms of democratic planning. Let’s take a look at each of these.

Follow the link to the main article…

Politics is largely ‘media driven’. Control the media and politics cease to matter…but these Ivory Tower types don’t seem to get that, thus do you get the above stupidity!

And lastly…

Step Six.) Cut Corporate Power Down to Size [!!!]

To deal with economic issues, ecological challenges and local community stability, we must also come to terms with corporate power dynamics. Public corporations are subject to Wall Street’s first commandment: Grow or die!” You can’t just wish or regulate that idea away.

If I could only remember where I put that magic wand…

What is this guy smokin’?

You are right to be wary of people offering to ‘save the world’ with a few simple changes…those changes need to alter the path of humanity and not just perpetuate what’s broken.

Ironically, we return to the age-old debate where on the surface it appears we have a ‘money problem’ when in reality we have a massive ‘legal’ one.

Until we can truly institute a ‘lawful government’ we will continue to be ‘mis-ruled’ by man…and the likes of unimaginative types such as this writer who thinks more of the same will fix things, somehow!

Thanks for letting me inside your head,

Gegner

Useful

Greetings good citizen,

Once again we find ourselves on the cusp of that relic of the New Deal formerly referred to as ‘the weekend.’

We still call them weekends but the week no longer ‘ends’ for the vast majority of us. For the unemployed the weekend represents two bad days to prospect for a job despite the best chance of finding work being in the 24/7 service/retail sector…where it is impossible to get forty hours, never mind forty-one.

So, yeah, the unemployed usually suspend their search for work on Saturday and Sunday because they retain hope that their new job will provide them with those two days off.

Call it ‘tradition’ but we have the Sabbath built into our psyches. (The fact that one is Jew and the other Christian is of no consequence, we have ‘become accustomed’ to having those two days off.

Ironically, our brave new world seldom provides ‘days off’ period.

Some of us are expected to report to work seven days a week but only for a few hours a day (usually ‘peak time’.)

So you only work 28 hours but you have to go back & forth 14 times to get even that little bit!

And you don’t have a ‘day off’…

Now, if you only work four hours out of twenty-four you have most of every day off BUT, in the relentless world of retail, the only days off you get (for now) are Thanksgiving and Christmas.

How ironic is it that you (as a part-time employee) don’t get paid for either of them?

Isn’t capitalism great? (All capitalists think so!)

363 days a year you must wake up and make yourself presentable. Drive yourself to the work place to perform your duties (as assigned that day.) Stay on the job until you are granted permission to depart…(can’t just up and leave come quittin’ time in retail!) and all of this for a minimum wage job that has absolutely zero loyalty.

Screw up even once and you’ll be out the door so fast your head will spin.

But that’s the (broken) ‘make yourself useful’ meme of capitalism. People are ‘disposable’. (And if the people you have disposed of become ‘troublesome’ you have the police shoot them down.)

Sort of going off the rails here when it was my ‘original intent’ to point out that weekends are rapidly becoming ‘a thing of the past.’

And this phenomenon is not restricted to the ‘rabble’ doomed to work short hours for shorter money, people who are routinely dismissed with the threat, ‘be happy you have a job!’

That threat extends to the ‘rank and file’ workers in cubicle land as well. Now the pay is slightly better and the atmosphere (slightly) more ‘professional’ than retail but the threat remains the same…or perhaps it gets turned on its head when the boss asks ‘how many of you can speak Hindi?’

Which might explain inexplicable stories such as this one:

Morgan Stanley's $481 Million 4th-Quarter Profit Beats Estimates
By SUSANNE CRAIG 42 minutes ago

Morgan Stanley reported adjusted earnings of 45 cents a share on Friday, driven by gains in wealth management and investment banking.

On a planet with a broken financial system, how the, er, heck does any bank ‘earn’ 45 cents a share without committing fraud?

Banking is (irretrievably) broken good citizen. The imbalances in the global economy CAN NOT BE ‘corrected’ without a complete overhaul that starts with a ‘clean slate’ (across the board.)

So ‘fictions’ like the one above are exactly that.

Which leads us to our next, er, ‘questionable data’:

Economix Blog
Lifting the Veil on the Fed's 2007 Discussions
By DAVID LEONHARDT 27 minutes ago

The Federal Reserve has just released the transcripts of its meetings in the pivotal year of 2007, when the housing bubble started to burst and the global financial crisis began.

Now that they’ve had five years to ‘muddy the waters’ naturally this work of fiction will have gaping holes in it but it will be downplayed as a side effect of the ‘whole truth’ being ‘unknowable’.

Here is another episode of 'the story that refuses to die' despite the corporate owned media not even hinting that globalization is responsible:

Praised but Fire-Prone, Battery Fails Test in 787
By JAD MOUAWAD and CHRISTOPHER DREW

Lithium-ion batteries are popular because they are powerful and charge quickly, but Boeing has had serious problems with the technology on its new Dreamliner.

Powerful Chemical Cocktail, With a Drawback

And anyone who didn’t see the ‘design-flaw’ card coming needs a serious reality check.

Of course it was a design flaw…but why did the design flaw occur?

Was it because the system was designed in Bejing and built in Seattle? It goes without saying that there was ‘no need’ to test it because it is ‘proven technology’…in the end, stupid is as stupid does.

Yet again, this old dog doesn’t need new tricks, the old ones still work fine!

G.E. Profit and Revenues Top Estimates
By REUTERS 7:40 AM ET

General Electric reported a better-than-expected 7.5 percent rise in fourth quarter profit and a sharp increase in its backlog of equipment orders, sending shares up in premarket trading.

Funny how profitability is easy when you’re half manufacturer and three-quarters bank! If you don’t ‘turn a profit’ from sales you just have the banking arm ‘cook the books’!

Speaking of cooked books and their ‘unintended consequences’:

Shell’s rig was grounded after being set adrift in a storm.
As Shell’s Arctic Drilling Hopes Hit Snags, Its Rivals Watch
By CLIFFORD KRAUSS and JOHN M. BRODER

Shell’s drilling program, the subject of two federal inquiries, has had problems environmentalists say highlight the dangers of prospecting for oil in the severe Arctic environment.

Talk about your ‘common threads, for years environmentalist have been screaming about the dangers of arctic drilling BUT the ‘too stupid to listen’ crowd goes ahead and does it anyway!

Will they have the chutzpah to say they’re ‘sorry’ after they despoil the arctic chasing what little crude there is?

No, I doubt it, nor will anyone be executed for their ‘hubris’ as has happened here:

At Algerian Oil and Gas Fields Once Thought Safe, New Fears and Precautions
By CLIFFORD KRAUSS

Local oil executives said foreign oil service companies were in the process of quietly removing several hundred workers until they were confident that the security situation was stable.

Odd how the article implies there was some kind of intelligence indicating the security situation was less than ‘ideal’ but apparently that ‘memo’ was, um, ignored a few moments too long with hostages being taken and killed.

Well, we all know the capitalist credo, ‘profits before people!’ (Power to the shareowners! And oh how they hate the O word! Which is why I use it every chance I get!)

What O word is that, you ask?

The one they can’t defend, ‘Own.’

And for our last entry:

Chinese Economy Expanded at End of 2012, Data Shows
By BETTINA WASSENER

Though there was improvement, economic data also underlined the view that the pace of future growth is likely to remain well below that seen in recent years.

Geez good citizen, I was going to cut this and the story above it off but as it would turn out, they are the two most important stories in today’s offering.

Especially this last offering because it translates to the One Percent’s ‘acceptance’ that the economy as it exists today will constitute the ‘new normal’.

Unemployment will remain as it is as energy prices climb beyond the reach of marginalized citizen.

Which begs the more basic question of whether or not you are still a citizen if the capitalist can’t find a use for you?

Thanks for letting me inside your head,

Gegner

Educate

Greetings good citizen,

How pathetic is it that many of the following headlines are either ‘spin’ or rely on accounting gimmicks for their veracity?

But the lead story belabors a point I have been making for decades:

The Education Revolution
Next Made-in-China Boom: College Graduates
By KEITH BRADSHER

China is making a huge investment in its universities, hoping to leverage its enormous population into 195 million college graduates by the end of the decade.

No irony should be lost that China has overtaken the US as the world’s premiere ‘economic superpower’ on the strength of its ‘blue-collar’ workforce.

Shifting back to our curiously missing OWS protestors, what does this (capitalist profiteering) mean to those who already got soaked big bucks, studying for jobs that will not appear anywhere near here?

I repeat, All economies are LOCAL and no amount of ‘koom-bye-ya’ can alter that!

Let me take it one step further and state unequivocally that it is ‘impossible’ to establish global capitalism as the world’s economic system because of its predatory nature. Resources must be ‘managed’ not ‘exploited’!

Global capitalism gives us stories like this one:

The 787 that made an emergency landing in Japan on Wednesday. All 137 passengers and crew members were evacuated safely.
Regulators Around the Globe Ground Boeing 787s
By CHRISTOPHER DREW, JAD MOUAWAD and MATTHEW L. WALD 51 minutes ago

The directives in Japan, Europe and India follow a Federal Aviation Administration ruling Wednesday that it was grounding the planes operated by U.S. carriers.

Design errors, easily corrected or the by-product of the decades long ‘global race to the bottom?’

This is what happens when you put psychopaths in charge of ‘shaking up’ your supply chain. All of the routine safeguards get thrown to the winds in an effort to ‘bull’ their way to a profit. (by bringing their part of the project in under deadline and under cost, thereby maximizing their ‘bonus’!
Seriously good citizen, these people have lost sight of the rationale behind the awarding of ‘bonuses’ (especially considering half the time management rewards itself for failure!)

And remember, THESE PEOPLE CONSIDER THEMSELVES OUR ‘BETTERS!’

They are ‘superior’ to us…at least in their own minds.

But hey, after Wells Fargo made money producing mortgages, we have the (alleged) ‘dummies’ foundering in the same pond…so who are you supposed to believe?

DealBook
Profit Drops 63% at Bank of America After Mortgage Settlements
By BEN PROTESS 6 minutes ago

The bank’s widely expected drop in fourth-quarter profit comes after it settled legal claims over its mortgage business. It earned 3 cents a share, narrowly beating estimates.

Um, talk about lunacy! Here they are, bleeding from the eye-sockets, settling billion dollar claims against them (for mortgage fraud.) Somehow they still ‘beat the estimates’…and Wall Street is giving them a spanking anyway!

Seriously good citizen, if this story isn’t complete and utter, I don’t know what is!

Somebody’s getting robbed and I have a bad feeling about who that somebody is…

In a related story:

DealBook
Facing Legal Costs, Citigroup Disappoints in 4th Quarter
By JESSICA SILVER-GREENBERG 9:30 AM ET

As the bank works to clean up its mortgage mess, it reported fourth-quarter profit of $1.2 billion, or 38 cents a share, significantly below analysts’ estimates.

Did Vikram empty out the main vault as part of his ‘separation package?’ You know how these ‘Master of the Universe’ types operate…

“Sure, I’ll leave…just make sure my golden parachute has a platinum liner!”

Apparently this is something ‘the analysts’ aren’t privy too.

And yet more ‘disappointment’ from the global stage…

DealBook
Rio Tinto to Book $14 Billion Charge; C.E.O. Replaced
By JULIA WERDIGIER and NEIL GOUGH 8:27 AM ET

The mining giant blamed challenges in the aluminum business and at its coal unit in Mozambique for the write-down, and said Sam Walsh would succeed Tom Albanese as chief executive.

I may have dubbed the local rag as the Daily ‘cops behaving badly’ gazette but the business pages of the world’s media are dominated by the details of CEO’s behaving badly (and getting fooked for it…sometimes.)

Then we have this last ditty that lead me to my previous musing regarding the veracity of today’s reporting:

Economic Data Lift Stocks
By REUTERS 52 minutes ago

Wall Street opened higher after some cheery economic reports on unemployment and housing starts.

It’s been two years good citizen and no change as far as my unemployment status. I’m still twiddling my thumbs as are many of my over fifty peers.

Seems the girls of the over fifty club have joined us recently and if you think that’s a coincidence, tell it to Santa Claus!

Part of what I do here is shine a light on the stories the corporate owned media ‘neglects’ and the other part is providing some much needed ‘food for thought’ that should be fueling public debate.

The corporate owned media is paid to ‘pretend’ that things couldn’t be better, our problems are largely in our heads…and they’d be correct about that because it is their fault our head isn’t pointed in the correct direction!

But that’s an issue for another day,

Thanks for letting me inside your head,

Gegner

Only in America!

Greetings good citizen,

In yet another jaw dropping example of capitalism at its finest we have a citizen using his garden hose as a flame-thrower after a nearby fracking operation contaminated his water well.

Which is not nearly as disturbing as what the EPA did when confronted with this, er, ‘intelligence’.

I cannot stress enough that the loss of control over our justice system indicates the loss of control over our society itself, and the extent to which treason has permeated the public realm.

(The people elected to serve us are NOT serving the public but those who funded their election, the One Percent…and that is ‘treason’…which has a long standing punishment.)

Again I ask what is it going to take before you reject this greedy grasping and punish the criminals who have impoverished the rest of us for so long?

How long must we suffer before you are willing to act?

The case isn't the first in which the EPA initially linked a hydraulic fracturing operation to water contamination and then softened its position after the industry protested. A similar dispute unfolded in west-central Wyoming in late 2011, when the EPA released an initial report that showed hydraulic fracturing could have contaminated groundwater. After industry and GOP leaders went on the attack, the agency said it had decided to do more testing. It has yet to announce a final conclusion.

Hydraulic fracturing — often called "fracking" — allows drillers to tap into oil and gas reserves that were once considered out of reach because they were locked in deep layers of rock. The method has contributed to a surge in natural gas drilling nationwide, but environmental activists and some scientists believe it can contaminate groundwater. The industry insists the practice is safe.

Range Resources, a leading independent player in the natural gas boom, has hundreds of gas wells throughout Texas, Pennsylvania and other mineral-rich areas of the United States. Among them is a production site — now owned by Legend Natural Gas — in a wooded area about a mile from Lipsky's home in Weatherford, about a half-hour drive west of Fort Worth.

Geez, what a surprise, the EPA backed off once the conservo-loonies got into the act!

Color me shocked…(yawn.) Welcome to midnight in America, and they say the darkest hour is just before dawn…so you ain’t seen nothing yet.

Understand good citizen it is precisely this practice (of contaminating groundwater) that is projected to put the US back on top of the energy exporting world…because we won’t be using it here! (Or at least that’s the plan.)

Which is the ‘sidebar’ to the bizarre predictions of the worlds first country to tap out its energy reserves will suddenly ‘resume’ its role as the world’s biggest energy exporter.

What does that tell you about the rest of the world?

It should be teaching you a boatload about the ‘funniness of money’. You won’t have enough to of it to buy energy but others will (cuz they is keepin’ massa’s factories running!)

Does ANYBODY see the ‘end game’ here?

How about a little taste of today’s business headlines?

Wednesday, January 16, 2013 Last Update: 10:30 AM ET

Deepening Crisis for the Dreamliner
By HIROKO TABUCHI and BETTINA WASSENER 6:41 AM ET

The two largest Japanese airlines said they would ground their Boeing 787 aircraft after a string of problems was capped by an emergency landing in western Japan.

Yet more proof of the stunning failure caused by globalization mixed with a generous portion of unbridled greed!

And speaking of unbridled greed:

DealBook
JPMorgan Cuts Dimon’s Pay, Even as Profit Surges
By JESSICA SILVER-GREENBERG 37 minutes ago

JPMorgan Chase touted a strong quarter, but still chose to sharply cut the pay of the chief executive, Jamie Dimon, in light of a multibillion-dollar trading loss last year.

DealBook: JPMorgan Report on Trading Loss Takes Aim at Top Executives 50 minutes ago

Funny how we start off with corruption in government and it leads us straight to the now defunct engine of the US economy:

DealBook
Goldman Sachs Earnings Soar
By SUSANNE CRAIG 49 minutes ago

Goldman Sachs reported a fourth-quarter profit of $2.89 billion, or $5.60 a share, beating analysts’ estimates.

DealBook: Goldman Profit Blows Through Expectations 8:56 AM ET
Stocks Pull Back Despite Bank Earnings 53 minutes ago

Does anyone else find it curious how the customerless banking sector manages to make record profits as the global economy founders helplessly?

Share prices keep rising but for no discernable reason…is it theft, fraud or both?

Which leads us to the next article:

Walmart Plans to Buy American More Often
By STEPHANIE CLIFFORD

The retailer’s 10-year commitment, totaling $50 billion, comes as it is under pressure over its overseas sourcing following a deadly fire in November in Bangladesh.

So a little ‘bad press’ and Walmart is suddenly humble and contrite are they?

Somehow I don’t think it would be that easy, just like the idiots who believe peaceful protests are the solution.

If we don’t start burning things down, nothing is going to change (and if we don’t burn most of it down what does change will be all bad!

American Airlines Reports a Profit
By JAD MOUAWAD 55 minutes ago

Lower costs helped the airline, which is operating under bankruptcy court protection, post a profit, compared with a loss a year ago.

And how did AA post a profit? They did it the ‘old fashioned way’ they wrung the savings out of their employees!

Lastly we have this story that begs the question of who thought it was a good idea to rescue these idiots in the first place (sadly, it was Hank Paulson and his successor Lloyd Blankfein!)

A.I.G. Seeks Approval to File More Bank Suits
By MARY WILLIAMS WALSH

A.I.G. must win a court fight with an entity run by the New York Fed, which the insurer says is blocking its efforts to go after banks that harmed it financially.

Only in America, good citizen could you read such a litany of woe and not think the bottom was going to fall out tomorrow due to public outrage…and believe you-me, the public is plenty outraged…they just can’t narrow it down to who…yet.

But fear not! The corporate owned media will offer up a scapegoat quicker than you can say debt ceiling! (Another grossly mis-reported story of politicians playing the public for chumps with the ‘assistance’ of the bought and paid for media.

But I have kept you beyond your time, good citizen and for that I apologize.

Try and remember when ‘Only in America’ was a good thing…(despite it being a lie then too.)

Thanks for letting me inside your head,

Gegner

Unintended Consequences

Greetings good citizen,

While I am not particularly a strong supporter of the NRA I do support what they stand for, a part of the human social contract that predates civilization itself.

Why is nobody ‘defending’ the right of the individual to defend themselves? (Probably because of our long, er, ‘tradition’ of enslaving the weak…but that position doesn’t play well in the press.)

So how do you think the public will react to this news?

New York Has Gun Deal, With Focus on Mental Ills
By THOMAS KAPLAN and DANNY HAKIM

The state Senate on Monday passed a plan that expands a ban on assault weapons and includes measures focused on the mentally ill. The Assembly planned to vote Tuesday on the bill.

Newtown Families Look Beyond Gun Control

As we have observed from our perch in larger society, the mentally disturbed don’t wear signs proclaiming their ‘abnormality’. Worse, more than a few are CEO’s and hold positions of respect and power.

How do you say ‘no’ to a screwball like that?

Short answer, you don’t.

There is already legislation on the books prohibiting the certifiable from ‘legally' owning firearms, so what good does passing 'stronger legislation' do…beyond providing the fig leaf of ‘taking a stand’?

We may as well outlaw evil! (How sad is it that our legal system isn’t up to the task of ‘defining’ evil, much less legislating against it!)

So how, er, ‘serious’ do you think this is?

Obama Willing to Use Executive Orders on Guns
By MICHAEL D. SHEAR and JENNIFER STEINHAUER

President Obama is expected to signal his intention to engage in the biggest Congressional fight over guns in nearly two decades.

‘Executive orders’! Seriously good citizen, did we just elect ourselves a ‘dictator’ (A la W?)

How ‘tenuous’ our grip on ‘democracy’ reveals that it has been a ‘for show’ arrangement from the beginning. Our betters couldn’t risk even experimental self rule because the 'riff-raff' (a.k.a. you & me) doesn’t know what’s good for them!

Like these assholes have a handle on that, take a good look at the world today and assure me it is in ‘good hands’.

Naturally we fall back on the problem with denying the mentally ill access to firearms, who decides who is or isn’t ‘mentally ill’?

Remember my post of a few days ago, where I re-named the local rag as the Daily Cops Behaving Badly’ gazette?

Well, guess who gets to decide who does or does not get a firearms permit?

Political appointees!

And if you’re not of the same ‘political persuasion’, your chances drop exponentially.

But I digress, let us return to the issue that smacks rather loudly of ‘martial law’.

We lost habeas corpus via ‘executive order’ (and haven’t regained it…) What do you suppose is going to happen if El Presidente is ordered by the One Percent to disarm ‘the rabble’?

Can you say automatic civil war?

As I comment in the preamble, the right to protect yourself predates civilization. Anyone who would deny you that right deserves death! (On the basis that they want to enslave you by rendering you defenseless!)

As many right to arms advocates say, they can have my gun any time they want it…bullets first.

(Which led to the counter expression of they can have my gun by prying it from my cold dead fingers.)

Left to our imagination here good citizen is what living in a nation without habeas corpus and the right to bear arms would be like?

You would no longer have to wonder about the ‘despair’ felt by someone living in a third world dictatorship experiences, it would become your daily reality!

They have already stripped you of your legal right to protest unjust imprisonment, removing your right to defend yourself would strip you of your ONLY defense against unjust seizure.

Wouldn’t ‘society’ protect you?

Think about that one and try not to laugh. If you aren’t a card carrying member of the One Percent it is vanity to think your presence would even be missed much less noticed outside your immediate family.

Yeah, we need to tread very carefully indeed, considering what history has shown us how ‘unarmed civilians’ have been treated, and we’re not even talking the distant past…

Should I disappear good citizen, look for me underneath a pile of corpses, cuz I ain’t going ‘quietly!

Thanks for letting me inside your head,

Gegner