12 May 2013

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plan_of_attack

The purpose of deficit reduction (i.e. austerity) is to widen the gap between the 1% and the 99%.

Austerity can take the form of tax increases and / or spending cuts. It can also occur by other means, such as deregulation and privatization. All forms of austerity interlock with each other.

Now that austerity has become a bad word, Republicans are changing their attack vector.

House Republicans are broadening their focus beyond spending cuts to explore other strategies for reducing the deficit. They are considering making new demands in exchange for agreeing to raise the federal “debt limit” on 1 Oct 2013, the start of FY 2014. Options include overhauling the tax code, cutting business regulations, and expanding domestic energy supplies.

TRANSLATION: Options include raising taxes on the middle and lower classes even higher, pushing financial deregulation even further, and giving even more federal subsidies to Big Oil, Big Pharma, and Big Ag.

On 15 May 2013 the House Republican Conference will hold a special closed-door meeting on how to increase austerity in ways other than imposing more spending cuts.

As Republicans ease up on their demands for spending cuts, the public will gratefully give the Republicans anything else they want. Indeed this is part of the austerity program: push the masses to the edge of famine, and then ease up in exchange for mass privatization, mass deregulation, and mass subsidies to the rich.

http://online.wsj.com/article/SB10001424127887324059704578475410976558392.html

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blessed

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THE END OF DREAMS

On 4 Oct 2013 a movie titled “Gravity” will be released in the USA. In it, two astronauts are taking a “space walk” outside the International Space Station when orbital debris hits the station and destroys it, leaving the two astronauts (a man and a woman) floating in empty space. They are totally alone with nothing to hold onto but each other, and no way to communicate with the earth, which does not even know they are out there.

This sounds like the kind of movie that might inspire mankind to resume exploring the universe — if society were different. A similar movie was “Apollo 13” (1995). (I don’t include “Star Trek” and “Star Wars,” since they are in the fantasy realm.) However, mankind will NOT resume exploring the universe, since everything and everyone now exists to serve the financial industry, which is interested only in profit for its own sake.    (cont.)

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Even now there is constant talk among participating governments that the International Space Station should be shut down, as it is “too expensive.”

[As of 2010, NASA budgeted $58.7 billion for the station from 1985 to 2015, which is only about 8% of what the US government spends on the Pentagon in a single year. Funding for the endless wars is separate and beyond the Pentagon funding.]

orbit

No, the bankers will not change the numbers in their computer matrix to create funding for mankind to explore the universe. The bankers and financiers are interested only in their financial games, which use money as a way to keep score. It is like teenage boys who cannot tear themselves away from a video game, even when the house is collapsing around them. Everything and everyone is sacrificed to their addiction.   Mankind has reached a global dead-end, and can proceed no further in its current form.

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Trek

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motley_fool

The Motley Fool is a company in Alexandria VA that tries to sell you stocks and other financial things. It employs 200 people whose job is to vomit sewage like that above. Let’s correct their nonsense…

[1] Like most people, the author does not understand the difference between the federal deficit and the “national debt.” (And these retards call themselves financial advisors!)

[2] Taxes do not pay for the “national debt.” The Fed uses its computer keyboard to create the interest payments on T-securities out of nothing.

[3] The author calls the amount of T-securities sold a “crushing debt load”? Who are they “crushing”? Do those T-securities affect your life in any way? If you say yes, then you are a liar or a moron.

[4] The plunge in the deficit is not a “windfall.” It is a result of persistent austerity by politicians, which keeps the economy in a depression. Remember: the the government’s deficit, is the public’s surplus. The smaller the government’s deficit, the smaller our surplus. The US Treasury has been collecting excess taxes, although the Treasury has no need or use for tax revenue.

For the federal government, the creation and destruction of money is simply a matter of changing numbers in computers.  All money is digital. Therefore, when the federal government spends money, or collects tax revenue, it simply changes numbers in various bank accounts. In this way, tax money is digital drained from the economy and destroyed, as in vaporized.  To demonstrate this destruction n, I shall now vaporize ninety trillion dollars…

Debit: 90,000,000,000,000

New balance: 0

Where did the ninety trillion dollars go? They went nowhere. They were disintegrated when I changed the numbers.

That’s how it actually works in real life. You can deny this all you want, but you will deceive only yourself.

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austerity_zone2

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MONUMENTAL HYPOCRISY

In mid-April, Michael D Higgins, President of Ireland, gave a speech to the Irish parliament warning of the dangers of imposing austerity without considering the social consequences. Failure to consider other approaches, Higgins said, would risk Europe drifting into a moral and intellectual impotence.

Members of parliament who favor more austerity for the public (but not for themselves) criticized Mr. Higgins, saying he did not have authority to question the Troika bankers. They were especially angry that Higgins said “austerity,” a word that has become politically sensitive.

Yesterday, former Irish Prime Minister John Bruton attacked President Higgins in parliament, saying the Irish public needed to “tighten their belts.” Bruton said that “change” (i.e. austerity) is painful but necessary.

“It’s immoral and anti-social for us to avoid our responsibilities and pass them on to the next generation. Yet that’s the cry of the opponents of austerity. We need to get used to doing more with less.”

Mr. Bruton enjoys a state pension of nearly $200,000 per year. 

http://www.irishcentral.com/news/Former-Irish-PM-Bruton-attacks-Presidents-calls-for-end-to-austerity-as-immoral-207038821.html

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daily_beast

POINTLESS GARBAGE

Bullshit consists of lies, or useless chatter about meaningless trivia. The article above is an example of the latter, in that it babbles about austerity being “rooted” in 1700s Scotland. Naturally it’s loaded with the usual lies, such as the belief that the federal government runs on tax revenue.

The simple fact is that Republicans didn’t care about deficits when a Republican was in the White House. When the housing bubble popped in 2008, Republicans exploited the depression by claiming that average Americans had “lived beyond their means,” and now needed austerity.

Now that we are on our knees, Republicans are using austerity to create a feudal society of lords and peasants.

No further analysis is necessary.

The problem with garbage like the above article is that people who read it become more confused than ever, and thus more enslaved and impoverished. The garbage also portrays mainstream economists as well intentioned, but “haunted by the Scottish ghosts of debt-panics past.”

That is, politicians, and economists like Reinhart and Rogoff, are simply “misguided.”

http://www.thedailybeast.com/articles/2013/05/12/austerity-s-scottish-ghosts-haunt-the-modern-economic-mind.html

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Bank-robbers

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THE AUSTERITY DISCONNECT

By Brendan O’Connor

The Irish Independent

Austerity involves real people and real pain, but our rulers have managed to decouple the notion of austerity from the reality of austerity. This decoupling was so successful that, for example, the Troika could tell us last week that we are doing well and we need to keep up the austerity, but we also need to promote growth and jobs. As if lack of growth and jobs had nothing to do with the austerity. This is like starving someone and saying they are doing well, but they need to put on a bit of weight. (continued)

Austerity has become an abstract concept. This was planned from the start.  The powers-that-be don’t call it a program of cutbacks and tax increases. They call it fiscal consolidation, as though it were a mathematical adjustment far removed from the concerns of ordinary people.

“Austerity” has become a dirty word, and politicians no longer verbally support it — yet they are sticking to it. That is another massive disconnect. Nobody believes in austerity anymore, but our Government keeps mindlessly imposing it. It is almost as if they are institutionalized. It’s just what we do, and don’t be asking awkward questions.

Excuse me Mr. O’Connor, but it doesn’t matter whether anyone “believes in austerity.” Irish politicians have no choice but to keep imposing more of it. The politicians, in return for bribes from Troika bankers, surrendered Ireland’s Monetary Sovereignty to those Troika bankers, and to Germany. Ireland can no longer create its own money. Ireland must borrow all its money. Naturally this creates a death spiral, in which debt and austerity increase exponentially. Ireland’s depression and austerity will continue to get worse until Ireland finally recovers its Monetary Sovereignty.

By the way, don’t believe the lie that to recover Monetary Sovereignty is to default on debt. The Troika and Germany spew that bullshit to keep you submissive to the euro-scam.

“The justification for austerity in Ireland is that it has worked, because it has brought the deficit down. And that is the only measure they use. The real effects of austerity – the mass unemployment, the pain, the lack of growth, the 300,000 people who have left Ireland in the last four years, 41 per cent of whom did so because they had no work here – all these are presented as extraneous issues, that have nothing to do with austerity.”

The pretense is necessary in order to distract you from the euro currency scam.

http://www.independent.ie/opinion/analysis/gp-card-fiasco-reminds-us-that-austerity-is-real-29260009.html

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taxes

REGARDING THE “NATIONAL DEBT”

Can there be a more hideous lie than that which claims we must have austerity because we must all pay the national debt?

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2 Responses to 12 May 2013

  1. Steve says:

    Hi Mark-Great blog! Nice balance of raging anger and sad comedy.No real comments or questions. However this clown, Bob Roddis (over at MNE) continues to irritate the fuck out of me.The guy seems clueless but likes to appear erudite and above it all. Most recent comment from this goldbug/Austrian moron:

    Bob Roddis said…
    At present, the US treasury DOES NOT CREATE MONEY BY SPENDING.

    For most economists the US federal government finances it (sp) spending primarily by acquiring bank
    money from agents outside of the domestic banking system. When one turns to Modern Money
    Theory (MMT), also known as neo-Chartalism, they find that the world is upside-down. Fiscal policy
    is said to be ‘really’ monetary policy. In most instances we are told that Treasury spending is financed
    by net/new money creation; with the receipts from taxes and bond sales unable to be spent, but
    instead ‘destroyed’. This claim defines MMT and is defective. While the federal government’s alleged
    ability to print money via fiscal expenditures is said to occur without the “complicity of the central
    bank” as a financing agent (e.g. Wray; 2006b) this argument is often forwarded with the term
    ‘government’ used ambiguously and deceptively to denote both the Treasury and the central bank.
    Everyone accepts that the Federal Reserve finances its activities by issuing money ex nihilio (i.e. ‘out
    of nothing’) but the Treasury finances its spending by depleting deposit balances (ceteris paribus).
    That Treasury spending results in a credit to the accounts of private banks (a reserve) is taken as
    evidence of ‘the State’ emitting ‘money’. That the central bank also debits the Treasury’s account
    entails that the transaction is not money creation but a transfer of an existing deposit. The maths is one
    credit to private accounts plus one debit to the Treasury’s account equals zero money creation (not <
    0). Money creation does not shift deposits from one account to another but creates them. MMT gets
    fiscal policy back-to-front by supposing that the Treasury expends funds without first procuring
    funds. The Treasury is not a bank and if it does not collect fiscal receipts it cannot spend because it
    has no ‘money’.

    http://www.peri.umass.edu/fileadmin/pdf/working_papers/working_papers_251-300/WP279.pdf

    Therefore, MMT does not describe the "reality" of the present system. You are describing a policy proposal that does not yet exist.

    May 11, 2013 at 6:3

    • quatloosx says:

      Actually Steve, I started this blog for YOU. That is, I had you in mind, and I was hoping you would stop by. I used to write long comments on Rodger Mitchell’s blog, but some people found that annoying. Here I can include humorous and sarcastic images.

      Regarding this “Bob Roddis” clown, I don’t know him. If I did, I’d like to do some sarcastic images of him to expose his idiocy.

      Money is not physical. It is created, destroyed, and “moved” simply by changing the numbers in computers. Evidently “Bob Roddis” does not know this, or does, but denies it.

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