Best of the Week
Most Popular
1. Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - Nadeem_Walayat
2.Gold Price Forecast 2018 - February Update - Nadeem_Walayat
3.Bitcoin Crypto Currencies Crash 2018, Are We Near the Bottom? - Nadeem_Walayat
4.Trump Bubble Bursts, Stock Market Panic Dow 1175 Point Crash Analysis - Nadeem_Walayat
5.Gold Corrects, Bitcoin Markets Crash, Whilst Stocks Plunge - Nadeem_Walayat
6.US Treasury Bonds: Fuse to Light the Bonfire - Jim_Willie_CB
7.Dow Falls 666 Points As Cryptocurrencies Crash And Krugman Emerges From His Van - Jeff_Berwick
8.Stock Market Roller Coaster Crash Ride Down to Dow Forecast 23,000 - Nadeem_Walayat
9.Trading the Shadows - Oil, Dollar, Stocks, Gold Trend Analysis - B.R. Hollister
10.Stock Market Analysis: Baying for Blood - Abalgorithm
Last 7 days
An Inflation Indicator to Watch, Part 1 - 18th Feb 18
Get on Top Of Debt Before It Gets on Top of You - 18th Feb 18
Will the Stock Market Make a Double Bottom? - 18th Feb 18
5 Reasons Why Commodities Are the Investment Place to be in 2018 - 18th Feb 18
1 Week Later, Stock, Bond Market Risk Remains ‘On’ as 2 of 3 Amigos Ride On - 17th Feb 18
Crude Oil Prices: A Case of Dueling Narratives? - 17th Feb 18
Free 1000 Youtube Subscribers Services - YTpals, Subpals, SubmeNow Test - 17th Feb 18
How to Trade as We Near March Stock Market Top - 16th Feb 18
Bitcoin as Poison - 16th Feb 18
GDX Gold ETF Weathers Stock Market Selloff - 16th Feb 18
Casino Statistics and Demographics - 16th Feb 18
IS Today Thee Stock Market Turn Day? - 16th Feb 18
Huge SMIGGLE Shopping HAUL, Pencil Cases, Drinks Bottles, Back Packs, Toys.... - 16th Feb 18
Tesla Cash Keeps Burning at $320 a Share - 15th Feb 18
Big Conflict Ahead in the Financial Markets - 15th Feb 18
Stocks Extend Rally Off Friday's Low, But Short-Term Exhaustion Near - 15th Feb 18
Stock Market Out on a Limb... - 15th Feb 18
Things Only a True Friend Would Say About Gold - 14th Feb 18
Global Debt Crisis II Cometh - 14th Feb 18
Understanding Crude Oil Behavior - 14th Feb 18
Stock Market is Getting Scary... - 14th Feb 18
Stock Market - This Time is Different. Really?! - 13th Feb 18
Gold and Silver Long-term Buy, Short-term Sell Signal - 13th Feb 18
SPX Futures Are Sliding... - 13th Feb 18
Stock Market Topping Process Begins. The Bubble Finds its Pin - 13th Feb 18
Math Behind the Stock Market Crash and What’s Next – PART2 - 13th Feb 18
Gold Stocks Groundhog Week - 13th Feb 18
Platinum Looks Poised for Surprising Gains This Year - 12th Feb 18
Friday's S&P 500 Stock Market Bounce To Continue, But Selling May Resume - 12th Feb 18
The Inflation Trade and Bond Yields Rising Result in Equities Correction - 12th Feb 18
February 2018 Stock Market Crisis – What Next? - 12th Feb 18
How To Profit From The Bitcoin Bloodbath - 12th Feb 18
The Philippine Economic Dream Could Be Within the Reach  - 12th Feb 18
Is the Stock Market Correction Over? - 12th Feb 18
What Does the Stock Market Decline Mean for Gold - 12th Feb 18
Addicted to SMIGGLE Mega Review, Pencil Cases, Stationary, Back Packs, Drinking Bottles, Toys... - 12th Feb 18
Best Cash ISA Savings Account for Soaring UK Inflation - February 2018 - 11th Feb 18
The Fed’s Impossible Choice, In Three Charts - 11th Feb 18
US Stock Market, Gold, Silver and the Macro Backdrop - 11th Feb 18
After Two weeks of Stock Market Decline, People Are Ssking, “Are We There Yet?” - 11th Feb 18
How to Grow Tomatoes From Seeds, Homegrown Organic Money Saving Gardening - 11th Feb 18
Youtube KILLS ALL Small Channels with New DeMonetization Rules - 11th Feb 18

Market Oracle FREE Newsletter

Urgent Stock Market Message

Is the U.S. Fiscal Cliff the Result of Psychopath Leaders?

Politics / US Politics Dec 06, 2012 - 03:58 AM GMT

By: Brian_Bloom

Politics

In the early hours of this morning – at 3:00 am to be precise – I was lying in bed thinking about how the world got to this point in its history, and I started thinking about the synchronicity of the French Revolution, the American Revolution and the Industrial revolution that began to emerge in England.

“Liberty, Equality and Fraternity” were all about human rights – the right to be given equal opportunity to apply one’s skills without living under a crippling tax burden under the French King Louis XVI. Quote from Wikipedia: “Amidst a fiscal crisis [1789] , the common people of France were increasingly angered by the incompetency of King Louis XVI and the continued indifference and decadence of the nobility.” (http://en.wikipedia.org/wiki/French_Revolution )


The American Revolutionary War (1775-1783) was all about uniting against, and liberating from, a rapacious English tax system under King George III and freeing the human spirit so that men and women could apply their own labours freely to better their lives. Quote from Wikipedia: “The war was the result of the political American Revolution. Colonists galvanized around the position that the Stamp Act of 1765, imposed by Parliament of Great Britain, was unconstitutional.[citation needed] The British Parliament insisted it had the right to tax colonists to finance the colonies' military defense, which had become increasingly expensive due to the French and Indian Wars.” (http://en.wikipedia.org/wiki/American_Revolutionary_War )

The Industrial Revolution was all about opening up new horizons in foreign underdeveloped lands and a global expansion of Empire by harnessing the labour of indigenous people at peppercorn wages and sending back spices, minerals and materials to Britain (and a few others) so that it could manufacture and send back machinery and infrastructure, for which it could be paid. Quote from Wikipedia: “The Industrial Revolution was a period from 1750 to 1850 where changes in agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions of the times. It began in Great Britain, then subsequently spread throughout Western Europe, Northern America, Japan, and eventually the rest of the world.” (Source: http://en.wikipedia.org/wiki/Industrial_Revolution )

In today’s world we have a new Marie Antoinette and her name is Michel Obama. Michel is very concerned about the number of Christmas trees in the White House.  (see: http://news.investors.com/politics-andrew-malcolm/120312-635425-fiscal-cliff-talks-stall-as-obama-white-house-erects-its-own-tree-grove.htm?p=full )

And we have a new “King of kings”, whose name is Barack Hussein Obama. Unlike the kings of those days, this Robin Hood king wants to tax the rich to lift up the poor. However, just like the kings in days of yore, He, and all the other modern day kings are quite happy to spend money that their countries do not have – because that is how they get to become kings. Despite all the noise about taxing the rich and giving tax breaks to the poor, the reality is that no one really has to be taxed at all because modern day kings can conjure money out of thin air, by the flick of an electronic switch.

Unfortunately, the key difference between the 18th century and 21st century is that the masses of today are not yearning to be set free so that they can apply their skills and labour to better their lives.  This time around, the “Occupy” movement, for example, is yearning to be set free so that the wealth can be redistributed more evenly without a concomitant effort.

By their propensity to conjure money from nowhere, the modern day kings have created an environment of entitlement. After all, could there be any easier way to become king than to promise that which the peasants want without needing to feel any anxiety about how it will be funded? As any psychopath understands, you don’t have to feel the emotions you express in your speeches, you just have to express them in a manner that gives the impression that you care about the peasants’ concerns.  And, as long as you can keep doing that, you will retain the adoration of those around you; and you will get to stay king.

For the reader to understand in his/her gut the psychological make-up of a psychopath, it will be very rewarding to invest the required 78 minutes to watch the following documentary. It is a real eye opener: http://www.youtube.com/watch?v=CSDIT55KeKc .

Conversely, to understand what is meant by an attitude of entitlement, the following example is put forward: This attitude is reflected in the headline of a story in today’s Drudge Report, which reads as follows: “Detroit councilwoman to Obama: We voted for you, now bail us out” Source: http://www.myfoxdetroit.com/story/20264712/detroit-councilwoman-to-obama-we-supported-you-now-support-us

And here’s another fascinating quote from today’s Drudge Headline article.  This is what King Barack was reported to have said:

“"We don't have any objection to tax reform, tax simplification, closing loopholes, closing deductions. But there is a bottom line amount of revenue that is required in order for us to get a real, meaningful deficit reduction plan that hits the numbers that are required," he said. "Any formula that says we can't increase tax rates [for the rich] probably only yields about $300-400 billion realistically, and that's well short of the amount of revenue that's needed for a balanced package."” Source: http://www.cbsnews.com/8301-250_162-57557326/fiscal-cliff-talks-frozen-obama-lobbies-big-business/

And, your Majesty, you think that if you are to stop just printing money, then the only place this revenue is going to come from is taxes on “The Rich”?  Aren’t you just being wilfully blind to the idea of cutting expenditure to suit your country’s income?

The above quote brought to mind a comment that JP Morgan was reputed to have made. I forget the exact wording but, it was apparently his response to a heckler who “demanded” that Morgan should share his wealth more fairly. If I remember correctly, his answer was to the effect: “Here’s your nickel”.

So, in not-so-fond memory of JP Morgan, I did a little arithmetic: If the GDP of the entire planet is $50 trillion a year and there are 7 billion people alive, and all that income was distributed evenly to everyone, then each person would receive $7,142.86 a year – which is just about enough to pay the cost of the annual food bill in our home for two people; food only. No house, no car, no clothes, no TV, no telephone, no internet, no theme parks, no entertainment of any sort, no doctors, no medicines, no holidays.  As an aside, King Barack and his family are having a 21 day, taxpayer funded Christmas vacation in Hawaii because of the arduous year they have had. See: http://whitehouse.gov1.info/blog/blog_post/agenda-hawaii.html).  

From another perspective, looking at the infrastructure that governments or corporations typically arrange and fund, there would be no rail or air infrastructure, no sea transportation, no water, electricity, sewage or road or bridge building. There would be no hospitals, education system, police, fire-fighters or (God forbid) financial services.

And none of this would ever be provided in the future, because the $7,142.86 would have been spent on frivolous pursuits like acquiring every model of NB sneaker ever made, or owning the latest versions of ipad and X-box; or maybe even buying a gun – because “the law” says you’re entitled to own a gun – to protect yourself, of course.

So, let’s think in terms of solutions:

One of the things that has to change is the “work-ethic”. People need to aspire to acquire a real education that will equip them with skills and thinking capabilities that they may gainfully apply to the challenges of solving problems and producing value-add and wealth. Will this happen? Unfortunately, the numbers and behaviour of those at the bottom of the pyramid suggest not. Therefore, we have to go through a cathartic process where those at the bottom of the pile begin to face reality or face extinction. There’s nothing like pain to focus the mind. Of course, it goes without saying that there are some who are physically incapable of providing for or looking after themselves and it is the responsibility of society to do something about that.

And another thing that has to change is that we have to kick the psychopaths out of office – all of them. In an earlier era, they would not just be kicked out of office they would be beheaded; after being tarred and feathered. But that would constitute anarchy, and we can’t have that.  So we would probably be well advised to classify such behaviour traitorous, and step up the remote surveillance a notch or three – just to keep people thinking that they are safe in their beds at night. We can’t have them lying awake at night, worrying.

And that’s what was keeping me awake at 3:00 am this morning.

I wish all my loyal readers the compliments of the season. Should we survive beyond December 21st, I wish you all a Merry Christmas, a Happy Chanukah, a Happy New year and a joyous Milad un Nabi in 2013. And to those in the Far East who are bemused by such thoughts, I wish that your etheric energies should be balanced and that your spirits should join with the Infinite Consciousness, as you play your Tai Chi and you still the chatter in your conscious minds through your meditation.

Brian Bloom

Author, Beyond Neanderthal and The Last Finesse

www.beyondneanderthal.com

Beyond Neanderthal and The Last Finesse are now available to purchase in e-book format, at under US$10 a copy, via almost 60 web based book retailers across the globe. In addition to Kindle, the entertaining, easy-to-read fact based adventure novels may also be downloaded on Kindle for PC, iPhone, iPod Touch, Blackberry, Nook, iPad and Adobe Digital Editions. Together, these two books offer a holistic right brain/left brain view of the current human condition, and of possibilities for a more positive future for humanity.

Copyright © 2012 Brian Bloom - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Brian Bloom Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules