Blog Archives

Irish Politician – Water needs to be paid for it just doesn’t fall outta the sky

In an Irish context being battered, last night,  with a month’s worth of rain in one day ………well you get the joke.

https://www.youtube.com/watch?v=dYFVZJhW8xw

 

First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%

First Swiss Gold Poll Shows Pro-Gold Side In Lead At 45%

 

The first poll of how the Swiss people will vote in the “Save Our Swiss Gold” initiative on November 30th shows that the Swiss are leaning towards voting for the pro-gold initiative.

Gold Initiative Poll Results –  20 Minuten

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Britain isn’t working, it’s borrowing

Stacy Summary: This is the problem with neo-feudalism. One, obviously, cannot tax the oligarchs, lords, banksters and property speculators, which leaves you with the ugly people who have to work for food (and then just barely). This is the inevitable conclusion to any such pyramid scheme.

UK government debt soars 10%

osborne

The state of Britain’s finances deteriorated unexpectedly in September, pushing the deficit 10% higher in the first half of the year and leaving the chancellor further off course in his deficit reduction plans.

Borrowing last month totalled £11.8bn, £1.6bn higher than September 2013 and more than a billion higher than City economists were forecasting, as government spending increased more than the value of its tax receipts.

And here is the evidence of the denial of the small ruling elite and the few lucky winners of Thatcher’s great Right to Buy giveaway:

The public finances have been consistently weaker than expected in recent months according to the Office for National Statistics data.

To build a system in which unearned income pays more than earned means necessarily that it is far less scaleable than a German like system where wealth creation pays more.

wage-growth

And then this idiotic statement: “Britain borrows more than a year ago despite the recovery” . . . um, it’s “Britain borrowed more and so GDP rose, but it was just debt backing illusory house price gains and not wealth creating jobs or manufacturing.”

Christophe de Margerie, CEO of Total, dies in small plane crash in Russia

CEO of Total dies in plane crash

total

I first heard of de Margerie when we made the film Peaked for Aljazeera English. He was the first senior oil executive to mention ‘peak oil,’ which angered many others in the industry.

The last we heard from him, however, was from this July 5, 2014 Bloomberg story we covered:

Total’s de Margerie Sees No Need for Dollars in Oil Purchases

“Nothing prevents anyone from paying for oil in euros,” de Margerie told journalists at the Cercle des Economistes conference in Aix-en-Provence, France. “The price of a barrel of oil is quoted in dollars. A refinery can take that price and using the euro-dollar exchange rate on any given day, agree to make the payment in euros.”

The remarks from the head of France’s largest oil company are the latest in a debate sparked by an $8.97 billion fine slapped by the U.S. on French bank BNP Paribas SA (BNP) for transactions carried out in dollars in countries facing American sanctions.

I’m sure it had nothing to do with his death, of course [insert nervous laugh], but here’s the second comment on that Bloomberg article:

Also someone take a life insurance policy on that guy I have a feeling Langley mercenaries will make someone rich

Will post an update when/if this is confirmed any time soon. At the moment, only RT is reporting this. I’m assuming they have pretty good connections inside Russia.

It is being confirmed by other sources now, including Bloomberg.

Max Keiser wants to ‘kill’ Fox’s Rupert Murdoch and Sean Hannity

How The Federal Reserve Is Purposely Attacking Savers

federal-reserve-flickr-DonkeyHotey

This is a rant against the Federal Reserve, written for those angered by Janet Yellen’s tone-deaf remarks last week. The Fed is silently, but clearly engaged in the process of financial repression — transferring purchasing power from savers to debtors in order to keep our over-leveraged system sputtering along for a bit longer.

This is bad enough; but for the head of the Fed to deliver such a “blame the victim” message is beyond the pale. It may very well prove to be this new century’s “Let them eat cake” moment — one swiftly followed by righteous public ire.

Read the full article here

It’s Not Just Spying – How the NSA Has Turned Into a Giant Profit Center for Corrupt Insiders

Last week, two very important stories came out; one from Reuters and the other from Buzzfeed. They both zero in on how current NSA employees are using their expertise and connections to make big money in the private sector while still working at the NSA. Let’s start with the Reuters story, which covers former NSA-head Keith Alexander’s business relationship with the NSA’s current Chief Technical Officer, Patrick Dowd…

Read the rest here.

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The Artists’ Road to Serfdom: The Commoditization of Creative Content

This is the net result of commoditization: there’s no premium for commoditized capital, labor, goods, services or content.

As I noted in Our New Robot Overlords & The Third Type of Capital, profits flow to whatever inputs are scarce. Unfortunately for musicians, writers, filmmakers and others producing creative content, creative content is no longer scarce: it’s been commoditized and is now available in unlimited quantities for $10/month.

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Euro Risk Due To Possible Return Of Italy To Lira – Drachmas, Escudos, Pesetas and Punts?

Euro Risk Due To Possible Return of Italy To Lira – Drachmas, Escudos, Pesetas and Punts?

The European status quo and EU elites are becoming increasingly concerned by popular calls in Italy for Italy to leave the European Monetary Union and the euro “as soon as possible” and return to the lira.

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Hannity is intellectual terrorism billboard financed by Startjoin.com crowd

The billboard financed by the crowd at StartJOIN.com has gone up overnight in Chicago!

Here it is in situ:


Here is the original:

HANNITY_small

No can do: Li unable to meet Ukraine president due to ‘full schedule’

li


Our New Robot Overlords & The Third Type of Capital

Fortune will instead favor a third group: those who can innovate and create new products, services, and business models.

A recent issue of Foreign Affairs sported a catchy cover teaser: Our New Robot Overlords. This brings to mind various sci-fi scenarios, but the actual article title is academic to the point of obscurity: Labor, Capital and Ideas in the Power Law Economy.

Rather than rehash the usual failed Keynesian Cargo Cult economics, the authors describe three powerful ideas that resonate very strongly with my own work:

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