CRASH 2: Thank God it’s Friday?

I don’t like Mondays

It may be Friday, and there may be two days of respite in which lies can be spun and bailouts cobbled together. But this time, none of the idiots who got us here have anywhere to hide.

The bankers face the collase of their short-term pr campaign to dub Bob Diamond a lone rotten apple. The barrel is fermenting unpleasantly, and the obviously global nature of the Libor scam continues via the US, Canada and Asia. Wednesday, regulators were investigating named executives Michael Zrihen at Credit Agricole, Didier Sander at HSBC and Christian Bittar at Deutsche Bank. There will now follow an attempt to make these apparatchiks carry the can. It won’t work.

The UK Government Minister of Trade & Investment Stephen ‘The Baron’ Green looks on in horror as all the full depravity of his Christian HSBC is laid before a by now exhausted public. He does have a line of defence (see the Slog later today) but it’s not original, and carries all the credibility of Nick Buckles for Minister of Defence.

Camerlot has run out of excuses for being a half-hearted member of the least successful trading union of modern times. The IMF is backing away from any further eurozone support, Spain’s bond yields have reached the ‘we now give up’ point in the markets, Mario Monti’s Italian miracle has proved to be just another mirage, the German public is fed up of bailouts, and twenty CDU members voted against Merkel’s latest piece of Fiscal Union railway track. The UK is back to exporting more to non-EU countries than EU. And the clamour for an in-out referendum is growing in Britain. By the time it happens, it will be more like a post mortem.

Brussels too is all out of fantasies. Most of the FU members are already debtors (or on the verge of it), the ESM has attracted close to zero ex-EU investors, and Mario Draghi has as good as said that Brussels in general and the euro in particular are dysfunctional. The entire Union outside Germany is in recession, Greece has all but collapsed as a modern society, Turkey has an eye on Cyprus (as does Moscow), and – as noted above – struggling Infant School sums under-achiever Christine Lagarde has called time on IMF contributions. Herman van Rompuy is down to the “and then aliens from Space save us” outlook.

Rupert Murdoch survived last year’s Newscorp AGM, but the vote against him at this year’s session will be far more negative and concerted. Eighteen institutional shareholders are said to be cooperating in an attempt to oust the Digger dissembler. Jeremy ‘Whaddock’ Hunt may have limped on as UK Culture Minister, but the Murdoch cheerleader is, I hear, doomed once the Shambolympics have unravelled. This and a growing revulsion for tabloidism means Newscorpse will soon be a reality.

And a prime mover in getting the Games to London, Lord Coe, now finds himself fighting a war against not-very-blacked-out adverse publicity about Olympic levels of disorganisation and risk. The ‘organising’ outfit he heads, Locog, has messed up at every turn: lost bus drivers, unfinished accommodation, overwhelmed transport, bonkers venue choices, and the disastrous choice of G4S. The appointment of a closet Islamist may also come back to haunt the clowns who put together the odd Board composition of Locog. In the event of a terrorist attack, those of us who are awake rather than politically correct will continue to ask what on Earth Mohammed Bari was doing with access to sensitive security information.

Penultimately, and very much least, although the MSM remain slow in grasping this, David Cameron is a busted flush with the electorate. Lord Ashcroft, the Conservative Party’s former deputy chairman and arch-enemy of the Camerlot style, notes that 33% of those who voted Conservative in 2010 have defected to any one of UKIP, Labour, the Lib Dems or abstention. Astonishingly, the LibDems are felt not to have enough influence on Tory policy, a finding on a par with EU voters saying Angela Merkel should be given sweeping dictatorial powers. But this may reflect the feeling that Tories are nastier than LibDems, and thus the Cleggies might have been able to stop a few small ethical hiccups like Newscorp, Libor brokerage, Lord Green, Jeremy *unt, and devious spin about the nhs. Dear me, a lot of voters really have been inattentive in class. They must try harder. 3/10.

“Ah but ah but yes but no but,” I hear you protest “you’ve left off Barack Obama”. I have indeed, and for a very good reason: the Black Dude may have failed to con his supporters into believing that America is recovering (mainly because it isn’t) but he, Geithner and Bernanke still have their stainless steel alibi: “It was all the fault o’ them Goddamm yerpeens and sleazy Brits”. The White House and the Feds were always going to play this card, and they play it now on a near-daily basis.

But while they will perhaps get away with it and help re-elect the emptiest President in 44 attempts to date, one final Candidate for long overdue reality won’t.

Wall Street is viewed by many Sloggers and the world at large as both unassailable, and beyond the very short arm of the Law. But events are now so neatly arranged  into what is being called The Perfect Storm, I do not think the Street will survive as an institution of World significance. An EU heading for the cliff will overwhelm the American banking system in a Second Flood of poorly managed derivatives and obligations, revealing for good and all how investment bankers had their Tulip Moment by ridiculous over-valuation of what is, in most cases, nothing more than the IOUs of bankrupts.

As and when this happens, if it’s before November this year, Obama will use it as a stick with which to beat Mitt Romney and his addiction to the Greed is Good philosophy. If it happens later (and that is still the most likely outcome) he will use it to bash the Republican Party and have his revenge upon Lloyd Blankfein and his pals. It won’t alter the reality of a USA very quickly drowning in debt as the inevitable global protectionism takes hold of everything from imports to interest rates, but it will damn banking globalism to history. And as American power thus fades, the Stall Cheat Wankers will never rise again.

Enjoy the weekend.

84 thoughts on “CRASH 2: Thank God it’s Friday?

  1. Today’s message from the Galactic Federation: ‘Most governments of the world stopped serving the people a long time ago, and allowed themselves to become vassals of the powerfull banking families. The extent of the Illuminati power will astonish you, and it reaches into most high places including royalty and religion’.

    Plenty more. Treeofthegoldentlight. SaluSa from Sirius.

    • Why is it always someone else who has to rescue humanity from itself?

      Surely if humanity has a future, we need to do it for ourselves.

      • That is a big “if”… you can fix a broken economy… but what happens if you break the planet?

      • Ioannis

        I happen to think that the planet can look after itself. If humanity happens to get in the way of that, we have only ourselves to blame. We have abused our planet egregiously.

      • Gaia, (Mother Earth) was unable to look after heself, and being sentient, cried out for help, being very close to destruction from massive pollution and radiation, to Ascended Masters. Also in the process of Ascension, the strange weather patterns around the globe are helping to clear away the negativity. The Souls on her cried out for her plight, in our prayers and wishes, and they were heard, by God. The GF is using wonderful technology to assist. And Gaia is also holllow and inside her reside a wondrous race called the Agarthans!

      • BB

        if it relies on anything to do with technology, it is the wrong answer.

        As to the weather, the warming of the Caribbean from the loss of the North Atlantic Drift is the root of the problem. Gaia is a far more delicate and sensitive being than you can imagine.

        The problem people hearing voices, is that they often tell them what they want to hear.

      • Gemma, technology cleansed Fukijima. Deliberately caused by the Illuminat and H.A.A.R.P. I KNOW Gaia is sentient. Do you? A little research will lead you to the Truth. Please do some and spread the Light. Thank you,

      • BB

        in ancient times, anyone wishing to learn the basics of spiritual communication was asked one question. It was very simple. If you can tell me the answer in simple language, I will accept that you can listen in the heavenly realms, and know the sentience of Gaia.

        “How can four be ten”?

        It goes right to the root of creation, and that is a clue by the way.

      • @ Gemma
        ++“How can four be ten”?

        ++It goes right to the root of creation, and that is a clue by the ++way.

        4 + 3 + 2 + 1

      • Geo

        that is fine in as far as it goes. I was trying to tease BB out of his intellectual dreams. There is a lot more to numbers than meets the eye.

        Think of the four states of creation: mineral, plant, animal and man. They are distinct and very different. Each subsequent form having an added “something” that makes it quintessentially different from the former state. Your analysis was accurate, but not anywhere close to the truth of the matter. There is, of course, zilch by way of evidence of the differences in these states of matter – especially in the living realm.

        Mind you, there is pretty little evidence of life in the living being. Once it is dead, the carbon atoms remain just as they were when the system was alive. Evidence doesn’t hold water in these higher realms …

      • You’ve lost me Gemma, I thought I’d cracked it with the four paths to enlighTENment but then I thought of Nirvana and an image of an old guy dancing with a broom filled my mind, smelling of something………

        Maybe he was meant to sweep up the discarded fetters or something ;-)

      • Monk

        if you thought you had cracked it with the four paths to enlightenment, it is obvious that you hadn’t. These things are not to be thought about, they are to be done. You work at Bhuddism, you don’t ponder it. What is more, Bhudda wasn’t wrong, he was simply describing the things He saw in words that those around him would understand. Modern Europeans share very little of his world view and so have real problems understanding him properly.

        Things are very different today. For one thing, humans, especially European ones, think in very straight lines. The difference between the various cultures is their starting assumptions, and these then tend to differing answers.

        Bhudda would have been shocked at the things he would see today. People whose power is unimaginable, yet whose ability to think to him, would look like a withered arm. Dry, almost useless. Which when presented with the problems of the Eurozone, it is.

        The point of all these brain-teasers and riddles is to show that there is more to thinking than logic. There are entire realms of thinking that are practically unknown in modern Europe. One step outwards is imagination – but here lie real dangers. One of them Big B has stumbled upon: imaginary beings. They seem real enough, but have no connection to reality.

        How then to find reality in a world where everything you know is now invalid? This is the realm where “evidence” has no more meaning than whipped cream. Everything is missing, everything is possible. Start with the plants around you, and the soil. The biggest secret that nobody ever mentions, save in the quietest moments at the 33rd degree meetings, is that the spirit (for this is what we speak of here) is to be found all around you. Not in Heaven, but right here on Earth. The earth you stand on is quite literally placed on spirit.

        Start by observing plants. how they grow, develop – and forget everything you have ever been taught about them. Every last thing you know about plants is incorrect, save what you see on the outside. Anything that deals with their internal being is wrong. Understand this and enlightenment may follow in due course.

        It is as you probably already know, a long and hard trail. It is fraught with disappointments and you will have to throw away cherished theories and understandings. The treasures you receive in return will be worth everything in the end.

      • I fear your interesting and much worded comment is wasted on a shallow thinker such as myself Gemma. Too much, read in to too little by too many, is the tag line I usually judge things on. A judgement reinforced by endless disappointments as the truth has unfolded over the brief visit I have here.

        I thank you for the thought though.

    • Gemma, many of us have lived thousands of lives on Gaia, alone. We are all immortal. I read messages from the GF every day. That is where I get my info, and knowledge, from. I believe every word. Research. Research. Research,

      • BB

        can you remember the circumstances of your previous life?

        How can four be ten, by the way. The answer will tell you a lot about re-incarnation, and how it comes about.

      • BB

        one last thought: please do not expect others to do the work that is expected of you. Just wishing for Galactic whossisname to come to your rescue is just that, wishing. You need to sort out what you need to do in this life, otherwise those ones you have had up til now will have been wasted. In short, the buck stops with you – and nobody else.

        If bankers but realized this, and their political hangers on, the world would be a better place. There would be a lot less nonsense too.

    • Gemma, I cannot remember one past life. All dreams represent past lives. All is slowly being revealed. They don’t want to frighten the bejabbers out of us! The Seven Seals of Higher Consciousness are being opened. I can hardly wait. And every Soul on this planet volunteereed to be here for Gaia’s, and Ours, Ascension. We are held in awe by thousands of different civilisations, in our skies right now, waiting for the Event. Bring it on!.

      • BB

        all dreams represent your current state of your physical being – they bring the knowledge of the heavens back into your body, which only understands material things.

        Please do not wish for things that you cannot hold in your hands or create from within your own being. Your “event” is not something that you are personally responsible for. Just because something looks nice on the outside does not mean that it is nice on the inside. You have been warned.

        If humanity is held in awe by anyone it would surprise me, those other civilizations must be having a pretty rough time of things.

  2. let us pray this perfect storm comes about and ensnares this cabal of thieving financiers, crooked ,inept politicians,plus all the hangers on from useless regulators,rating agencies, corrupt economists, cook- the- books accountancy firms, et al.

    • Salford

      the problem with that is that we all need to buy our pint* of milk in the morning.

      Take a look in your fridge, and think “how much of this can I grow, or obtain locally”? Remember also that your entire village will need to share that too.

      The problem with the cancer of bankers, politicians etc. is the problem of cancers as a whole: they are part of the system. Excising such a cancer as has been allowed to develop probably means killing the patient too.

      • Jw was prophesying and end somehow or in some way to the influence of Wall Street and probably various related financial practices, it might be safely assumed. Some people are saying that frauds of a sort must be perpetuated to forestall a collapse too dramatic and extreme to contemplate. Here is comparison to a disease which is so endemic that its cure will kill the patient. JW was talking about a reduction in influence. This could be something cultural he’s getting at, something like a literary or cinematic genre gone out of style and gone moldy and ignored –eventually gathering dust, curious as old news reels. Just saying there may be styles for approaching these dilemmas.

        From ‘The Man Without Qualities’ by Robert Musil:

        “In love as in business, in science as in the long jump, one has to believe before one can win and score, so how can it be otherwise for life as a whole? However well founded an order may be, it always rests in part on a voluntary faith in it, a faith that, in fact, always marks the spot where the new growth begins, as in a plant; once this unaccountable and uninsurable faith is used up, the collapse soon follows; epochs and empires crumble no differently from business concerns when they lose their credit. ”

        He’s talking about the underpinnings of ‘belief’ or ‘faith’ that under-gird any age however secular or otherwise it’s acknowledged by whatever consensus. Using the word ‘collapse’ in the above citation is typical and unfortunate (that was written in a Weimar context in the 1920′s), but we keep hearing this word ‘collapse’ which serves no purpose other than to further traumatize and risk waking the sleepwalkers of self full-fling prophecy.

        And JW, IMHO, is not using any language that should lead anyone to believe in him as some sort of prophet. He is giving an analysis based of years of working with promoting products –advertising, if you will — which must needs involve knowing when something that once sold is no longer likely to sell or loses legitimacy. This does not necessitate collapse, when it happens. One changes the way one does business. This has already happened too many times to require illustration and example. In fact on the individual level it happens more or less frequently over the course of a life time.

        “One can do as one will, but one cannot will as one will,” said, or wrote, Schopenhauer. It is important to know the difference, and to recognize the impossibility of the latter. But we are far from being in the futile position of someone trying to will as we will. Who has established that we are?

        Naysayers of the gloomy depths of their own mental mire, lack of natural faith and imagination and confidence — I say there are plenty of things that are being done every day, must be done, and things that will be done — and they needn’t be things born of desperation (which to give in to is the bitter end and must always be opposed) and especially not the belief that change is to be feared and not perpetually inevitable.

      • Geo

        thankyou for your lengthy, well thought out and robust response.

        I would like to elucidate on a few things, and they focus on one thing: the truth.

        Fraud. Fraud of any kind will of itself, fail. It is not true, it is therefore wrong. If someone practices fraud, they practice deceit and they are by extension not being truthful to themselves. In this manner they will make a mistake and will suffer for it. This is a circular argument, and there is no evidence to back it up as such. My point is that in perpetrating fraud, the bankers make their own lives a misery – they have such terrible fears of crashes etc. that will wipe out their fortunes. They live in perpetual terror. That is why they become so rigid and scared. It goes for the rest too.

        Truth on the other hand is different. Strive for the truth and you strive to better yourself. You are encouraged by the merest hint of its beauty. Any business formed on this principle has more chance of survival than any other. Period. Full stop and end of story.

        JW as an ad man will know of Rosser Reeve’s USP. Use this in advertising and you have the gold standard. There is quite literally nothing that can beat you. Take this to its limit – the individual – and you have a person that can supply some sort of usefulness (for want of a better word, it is midnight here in NL) that nobody else can. To do this however, and do it well must mean that you have thrown out all untruths about yourself. Bankers don’t do that sort of thing.

        “something that once sold is no longer likely to sell or loses legitimacy” if you are selling on that basis, you will fail. You are practicing a fraud. Sell something as being worth what you are paying for. Present it in its entirety and absolute truth. That way nobody can complain. It is the oldest trick in the book, and it still works. But you must find out what that truth is first. That is not easy.

        Oh, and don’t accept every Tom Dick or Harry into your showroom! As a copywriter I am very choosy about my clients. It pays big dividends. Those who don’t like me will only get cross at the things I write anyway, so why bother entertaining them in the first place?

        I could go on about faith and Schopenhauer, but need some sleep. Sorry.

    • Larry

      the “worst depression” – that is being optimistic I think. We live in a world that is dominated by machine production. Many of the essential skills for homesteading – raw farming – have been irretrievably lost. How many farmers can operate without chemical fertilizers, artificial pesticides and seeds they know not whence they come?

      How many farmers are there with the skills to keep their own seeds?

      I have those skills, developed with laughter in the background from those who buy theirs mail order. Essential farming skills are rare these days.

      Zim has seen its farmlands return to the bush and millions starve. That was political mismanagement not economic destruction, but the parallel is not that distant.

      • Don’t worry Monsanto will save us with their genetically engineered seeds that grow foods that don’t produce seeds.

      • That, Ioannis, is part of the problem and not part of the solution. Monsanto do not give those seeds away for free. The seed I grow is healthier and can be saved for years and years.

        A Monsanto seed is good for one year – as is any other modern variety. I grow my parsnips for seed – and they are renown for not keeping for more than a year at a time. Mine have lasted me for five so far. There is a difference between a plant grown to respect the soil it grows in, and a plant that is grown to produce a high level of harvest.

      • Gemma – the point has been well made by others that the last time an urban civilization was replaced by an economy based on home grown vegetables, this was later referred to as the dark ages.

      • Cuffley B

        I understand that, and is what I am warning against. Whilst many enjoyed the bounties of nature through careful husbandry of their fields, few can manage that today, and therein lies the danger.

    • Your sarcasm came across as pretty straightforward, I am sorry that I misread it – comments are a blunt weapon. I should have realized that any mention of Monsanto was inclined to be satyrical …

    • I think you’re both right about the fantasies. But what he suggests is that they will be taking on different qualities. And it’s true there is no stopping megalomaniacs from being megalomaniacs. But that does not mean there is no stopping them. Megalomania is a very unlikable trait and is no guarantee of success.

  3. I listened to the debate in the German parliament yesterday. They are desperate not to be labeled with the “we destroyed the Euro/Fiscal/Monetary/Political/Union project”.
    They just don’t seem to understand the consequences of their actions. This has pretty much been their problem for the last 20 years.
    It is in Germany that the real decisions ae being made. The poodles across in France are in denial, and the British pretend to be aloof.
    We are certainly in the 1930′s mode of inaction.

    • Biggie

      so who is offering to blame the Germans, that they react in this manner?

      That seems to me as big a problem as the Germans reaction to it.

      They too, seem not to understand the consequences of their actions.

    • here we go again…nietzsche shot god and the germans were so verdammt embarrassed that they started a world series of wars to distract attention whilst they covered up the heinous thought-crime by inventing a new deity called european union protectionism which promised to end all military conflict by exporting it to other even more gullible continents – now some cvnt’s gone and charged european union protectionism with treason and it’s being hung-drawn-and-quartered in the most grisly and extenuated fashion imaginable in the fervent hope that such a spectacularly self-immolating social sacrifice might appease any prospective divinity on the look-out for suitably chastened future devotees which can be picked up on the cheap.

      • What would you prefer?

        Buying Porsches from the Germans (sorry, Ioannis!) or selling out your industries to China?

        It is a hard choice these days, and pretty little alternative. If you exist in the dog-eat-dog world of ever cheaper/ever faster, then that is the outcome. There are countries that have tried to keep some vestige of competitiveness, and those who have not. The former, for all their faults, have a chance. The latter, for all their faults, have less.

  4. “the disastrous choice of G4S”

    Well I’m not sure anybody could blame Coe for that. G4S is the largest security company in the world and in fact one of the worlds biggest employers, and it is based right here in the UK. Seemed like an obvious choice and one can only gasp in wonder how such a huge company could have screwed up so monumentally on a job so much in the world’s eye. It is a PR disaster for G4S of epic proportions that will very likely cause it to lose a lot of business resulting in many lost jobs in the UK.

    • The choice to award this contract to G4S is looking to have been a bad one as this shambles develops day on day.
      Some figures jumped out at me this morning from an article in the DM. G4S have been awarded a contract for £284m to supply lets say 20,000 ‘guards’. If we take off their ‘management charge’ of £57m that leaves £11,350.00 per ‘guard’, for what? Six weeks work! If each ‘guard’ gets paid £2000.00 each for their six weeks ‘labour’ that means that G4S have been paid £9350.00 per guard for recruitment, training etc ( and, if reports are true, then the ‘guards’ themselves are being charged for most of the etc!) This means that G4S’ take on this contract is £118m PLUS £57m ‘management charge’, a total of £175m!
      Rather than an obvious choice, I think this looks like an obvious rip off which needs to be looked into and those who were responsible for awarding this contract need to answer some serious questions.

    • @oldsmoothie

      mounting a security operation for an olympic games being staged whilst embroiled in a fully-fledged war-on-ourselves was obviously a headache of monstrous proportions right from the starting-gun – the only possible solution was to draft in an army of doctors from the national health crevasse who would be deployed to conduct strip-searches, scans and rectal examinations of all visitors entering and leaving the site in order to ensure the park’s absolute sterility and integrity. this strategy would necessarily have entailed the procurement of huge numbers of registrars, consultants and other essential medical professionals on extortionate rates of overtime-pay, and this accounts for the seemingly elevated quotation which we at g4s made for the contract of our services. regrettably, for some inexplicable and obscure reason beknown only unto himself, lord crow rejected our proposals at a disastrously late juncture and we were thus impelled to rapidly recruit staff of a considerably lower quality at an unavoidably reduced cost, and herein i believe lies the financial discrepancy to which you refer.

      • Thank you Mr Poophole, I new there would be a simple explaination.

        Given that the awarding body, and their close buddies, would have been aware of these forthcoming internal examinations perhaps this could explain why so many of them have been walking around for a few years with their heads up their arses!

        I know that the old saying goes that when you realise you’re in a hole you should stop digging but, given that this is only a small part of what the govt. ‘donates’ by way of contracts to the profit line of G4S, if anyone can stand the stench of what’s uncovered, this orifice could be worth opening a little further, if only to see how many more multi-million pound discrepencies are uncovered.

  5. “American power thus fades”

    Utterly laughable! You really haven’t a clue!

    Given that power is relative, exactly who is going to replace them? China – utterly bankrupt. Russia – a paper tiger even more bankrupt than China. South America – in the process of going bust. Europe – dead in the water. Japan – zombie.

    Right now the only country in the G20 with a plan and still managing to (just) keep its head above water is the UK. Maybe the UK will be top dog in 10 years! But I fancy it will be the US once again. It is happily printing vast amounts of $ and yet the $ is still in huge demand. They can’t print $ fast enough for all the foreigners eager to swap their renimbi, euros, yen and what-not for a currency that might still be around in the next decade.

    • Exactly… funny how the only place to come out on top of this mess is the same place that created it. Coincidence?… nope.

      • Nonsense. Obama’s re-election will herald gigantic recognition of hopes fulfilled worldwide, just as with four years ago. That in itself will be spark enough to keep things going and into the positive.

    • I thinks it will be the shadowy powers behind the scenes masquerading as the US, just as it is now but with completely enslaved and impoverished citizens.

  6. I really enjoyed the Headline yesterday posted in NY…

    That the German Parliament virtually unanimously approved to bailout the Spanish Banks.

    Germany may remain impotent by virtue of Constitutional Legislation but it never would prevent a Cheerleader sounding off from the Republic.

    What a headline…

  7. “… but it will damn banking globalism to history. And as American power thus fades, the Stall Cheat Wankers will never rise again.” and “And the clamour for an in-out referendum is growing in Britain. By the time it happens, it will be more like a post mortem.”

    A touch of hope triumphing over reality there I’m afraid, John. Only violent revolution can overcome entrenched power as exhibited by the financial industry, government and politicians. Even then it usually only changes its face, the same scum operating behind the scenes float to the top again even if the known faces meet lamp posts and piano wire. Neither bankers nor the EU will simply fade away, there is too much power invested in both, those culpable will have to be torn bloodily away but I don’t see any real appetite for a Russian style overturning of the established order. The best we can realistically hope for is the inevitable post democratic strong man dictatorship is that it will be reasonably benign for the ordinary man, but come what may the same stakeholders government operates for now will be there then.

    • “but I don’t see any real appetite for a Russian style overturning of the established order.”

      Give it time…. it takes starving homeless people…… and incompetant self interested egotistical leadership – who have cake…………..we have one and the other is on its way…. and it IS on its way….. :)

      • @Morningstar:

        I meant I couldn’t see a 1916 type Russian overturning but I can see a 1990 Russian style solution, except instead of a movement ostensibly towards democracy it would be a movement towards dictatorship, or perhaps it would be more correct to say, toward an even less democratic dictatorship than our present system of elective dictatorship provides.

        Although we would see more rioting and destruction of property leading to a more powerful police state I doubt we would see any real revolutionary movement. The Western Welfare states have largely changed us to weak and pampered populations that would have neither the co-ordination or really the will to take to the streets. The elites are well aware that so long as they keep the police and military on side and continue as the main welfare provider, even if considerably reduced, sufficient to stave off generating an actual starving, homeless population they can keep control. If after that things turn sour enough then it may just be that the next convulsion could generate a proper overturning of vested powers, although I doubt it even then.

    • yes, cuffley…little red johnny’s always going on about the ‘poor innocent citizens’ who are falling victim to the evil bankers’ scurrilous scams…

      ‘greedy consumerized rung-climbing bumpkins’, i think he means…

  8. The American elite have no intention of rolling over and dying;everyone else will be salughtered first.Under no circumstances will this elite group be held responsible for the dross they foisted on us via pensions etc,,but expect London to be villified and this will be magnified if,Gof forbid,an attack on London occurs soon.The scapegoating of anyone outside the golden circle will be acceptable and we in the UK,Europe and Asia are now in the blame game,only we will be the blamed.Expect extradition of financiers from London after the November election to stand”show trial”if not before.

  9. it’s easy to ridicule obongo as the affirmative action president and an empty suit controlled by the neocon securocrats and the military industrial complex. but in 2008 they had a choice between him and mcshame, a man so incompetent that he graduated 896 out of 898 in his class at the naval academy. (he only got in because his father and grandfather were both admirals. no nepotism or crony capitalism there!)

    the big o was unqualified for the rank of potus. but romney is also barely qualified. he is even more a captive of the securocracy and is only executive experience was as governor of massachusetts where he has disowned all the legislation passed during his term. another empty suit with no real beliefs.

    o is not the worst potus in modern times: dubya was. at worst o is a mussolini to dubya’s adolf. romney would merely be franco is he was not adolf’s illegitimate son.

      • @oah: I predicted the rise of a new 21st century fascism as far back as the mid 80s – Blair became the new Mussolini – but I always steered clear of dragging the US into the frame even though I had many deep suspicions. But these days it’s becoming so clear that it’s now undeniable and can’t be glossed over.

    • Oldasiahand………. It’s kind of like shooting fish in a barrel isn’t it? Name a dictator and assign a US politician. Our system makes it easy. It takes 500 million dollars just to run the TV spots for a Presidential election. The man who tried to put the brakes on this end run around the general public was the 868 graduate of the US Naval academe. A man who because his father was an Admiral was offered release from the prison in Hanoi. He refused.

      I didn’t vote for McCain or Obama, another story.

  10. The only people who’ve escaped your Friday Fireblast are the Labour Party, so we can happily vote them into office next time and all will be well. They’re obviously whiter than white and long due another bite at the cherry.

    Oh…wait a minute…didn’t the shambles we’re now in all begin when they were in office? And aren’t most of the problems directly due to their mis-management?

    • The UK needs a Ron Paul type individual to save the country. Until such a person turns up(not a breath holding situation) never vote again! I thinks we are toast!

  11. Pingback: John Ward – 2 Episodes – HSBC & The Green Baron : He Will Claim Chinese Walls – And – Crash 2: Thank God It’s Friday? – 20 July 2012 | Lucas 2012 Infos

  12. I’m still thinking that the IMF report does not necessarily mean it’s walking away from the EZ, not yet. It’s hard-hitting report may be intended to galvanise the various disjointed EU elites and crats into taking action to resolve the EZ crises. This could mean ECB printing on a large scale: monetisation. If that happened it will not solve the fundamental problems of the EZ but will give those involved enough time to run for the trees with their huge unearned pensions, which at the end of the day is all any of them are interested in. We could see action in the 3rd Quarter or soon after.

    • @BT:’with their huge unearned pensions, which at the end of the day is all any of them are interested in.’
      Totally agree, been saying this for a while now. If they can see a way to guarantee the integrity of their pensions and walk away they will. That, is IMHO truly the end game.

      • @kfc: Indeed you have. I wonder if many of the EU crats have a problem knowing which gravytrain to board after Brussels, given that they were rejects from their home countries and won’t be welcome back! Barreloso is one example.

      • The IMF report may well be meaningless drivel. But let’s not forget that the EU is overflowing with people who write the stuff all day and night, live by it and believe in it. The IMF meaningless drivel may mean something to them, if not to us.

  13. Whilst not a Marxist, I believe that old Karl’s diagnosis was correct, if not his remedy…So the end of capital will mean the end of cities, perhaps Kropotkin had the right idea? Industrial civilisation and greed are evidently unsustainable, when the riots come again, there’ll be no turning back -Liberty or death (dictatorship).

  14. It’s not industrialism or greed thats in crisis today. Funny thing is, the riots may come, impoverishment will follow, fatigue will set in, and everybody will beg for more of the old. If not you, then your kids. Staying power, do you have it?

    Had Marx come close to pinning down any truth about his politico-economic world in “theory”, he would be unknown today, or a weird and remote conspiracy theorist at best. He could have said more in Das Capital in one sentence had he said, “Capital, to exist and be valued, requisites the perpetual issuement of ever increasing monetary debt”. But instead he described industrialism sociologically, and framed the psuedo-reality dualism of labor vs capitalist, that has since pre-occupied western polico-economic thought. You know… left, right, left… forward march?

    • You can’t engineer a violent revolution without convincing people that there are wnners and losers and they are the losers.

  15. Great piece JW. The whole rotten shambles laid bare before our eyes.

    However, I’ve never had a yankee call me a “Goddamm yerpeen” yet. Awful accent there. One did call me a europeon once, with the accent on ‘peon’, which I found a little harsh.

    I’m tiring of the cranks peppering your comments sections JW, to the point where I visit less frequently and ignore the comments more often.

    Might I advise a temporary cessation of all comments for a spell ? If that seems draconian we have only ourselves to blame.

  16. BT, Marx was not out convincing anyone they were losers for the purpose of violent revolution, and he wasnt a complicit cog in a process engineering it.

    His analysis was mostly accurate and observable. The opportunity for the communist experiment arose only after his ideas and “theories” permeated the political landscape and framed the ‘reality’. Russia was the goat, ousting the Czar was the objective, class equality was the declared underpinning. The opportunists themselves were as interested in Marxism as they were in Confucianism. But Marxism had traction, and that was what mattered.

    Fried Taxpeon, you dont mean me do you? Please sir, I may have some time on my hands this evening, but I’m not a crank. You must understand, the Bolsheviks of Russia, and Jihadi Rebels in Syria, are -brothers- from different mothers ;)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s