WHO ARE THE ANTI CAPITALISTS ? - And who are the bad guys ?

Regardless of your opinions about the rights or wrongs of the capitalist system, it is the capitalists themselves that are behaving in an anti capitalist manner. Far more so than the so called anti capitalist protesters.

It's ANTI CAPITALIST to rig markets and pretend that we are living in a free market system.

It's ANTI CAPITALIST to save banks that are to big to fail.

It's ANTI CAPITALIST to allow banks to become too big to fail.

It's ANTI CAPITALIST to allow banks to create money out of thin air under the cover of the fractional reserve banking system.

It's ANTI CAPITALIST to have a shadow banking system that is unregulated and causes other parts of the financial system to behave chaotically.

It's ANTI CAPITALIST to have targeted import tariffs and limits.

It's ANTI CAPITALIST to set artificially lower interest rates.

It's ANTI CAPITALIST to deliberately allow inflation to take off in order to reduce the impact of commercial and sovereign debts.

It's ANTI CAPITALIST to effectively buy your own bonds through a convoluted system of central banks, shadow banks, monetary funds and rescue/stability funds.

Capitalism in its purest form could just work. The trading of goods and services equitably for other goods and services serve many barter only communities well.

Its time to think about just who the anti capitalists are.

99ers UPDATE - Maybe they'll all get on a bus to occupy Wall Street and join in the fun

About a year ago I posted a blog about the 99ers in the USA. In a nutshell, in the USA, unemployment benefits only pay out for 26 weeks. Then you're on your own with no state support.

Because of the 2008 financial crisis and the huge increase in unemployment numbers, the American government passed an emergency law to increase these benefit payments by a further 73 weeks in order to limit the number of visible destitutes that would end up on the streets of U.S. cities.

That emergency legislation was only allowed to be passed on the basis of a concession to the political right. And that concession was that the new arrangement would be time limited. That time limit is about to expire.

To make matters worse, there is an election coming up soon so it is unlikely that this extension will be kept via a new version of that legislation.

Further details can be seen in my previous blog entry - http://subsister.blogspot.com/2010/12/99ers-set-to-take-off.html

Now then.

If that extension is not forthcoming by the end of this year (about 10 weeks time), the number of 99ers is set to increase on a rapid scale.

By February 2012, the number of new 99ers with no state support will increase by a staggering 2,153,700 people.



What will these 2 million new disenfranchised people decide to do about it?

SECOND DARK AGE - Reasons to be fearful Part 3

They're closing in at a phenomenal pace now.

Dogma fueled and ideologically regressive, the class and connections based elite ruling class are back in town and it's only taken 6 months or so to get to where we are now.

It is beginning to look like the last 20 years never happened.

All of those little victories culminating in a more understanding if maybe dumbed-down society now being slashed and burned through an 'oxymoron process' of stealth based shock and awe.

Smoke and mirrors. It hasn't taken long to remove the heat from the bankers and financial centres hangers-on to be forgiven or should that be forgotten.

The new demon is the old demon. Blaming previous administrations for ALL of the WORLDS ills. Spinning a web of confusion as the beast lurches from its slumber towards its sociopathic destiny, our social predestination. And all of this occurring while we sleepwalk into our futures of serfdom and systematic bondage.

We have crossed the rubicon without any knowledge of its identity or existence.

What will the resistance look like this time around? Will it even come?

More fearful than 1984, we look backward and see our futures writ large with capital Cs.

Like an intern in a national stargazey pie, we stare expresionless at death and decay in equal measure, caught at the margins of a Venn diagram, squeezed by the perpetual machine, into the void, into the vast expanse that is the 2nd dark age.

99ers SET TO TAKE OFF !

In the United States, unemployment benefits are only paid for a maximum of 99 weeks or just less than 2 years.

After that period, that's it. You're on your own.

After the banking crisis of Autumn 2008, unemployment began to soar. Every week the number of unemployed rose. These job losses continued for 55 weeks at a weekly increase of between 50,000 and 200,000 per week.

The worst period was from November 2008 to October 2009. But even since October 2009, the number of new jobs created has never exceeded 50,000 per week.

The net effect of all of the above statistics is that from December 2010 there are likely to be around 50,000 people losing their benefits every week. This figure will get significantly worse up tom around April 2011 when around 200,000 people will lose their benefits every single week.

It remains to be seen what such large numbers of disenfranchised people will do about this over the coming months.

Keep 'em peeled!

GLOBALISATION - Chickens coming home to roost - ( FROM CLUCK TO FUCK! )

Globalisation has had many critics over the years.

Arguments against the concept include inequality, environmental impact, sweatshops, cultural normalisation, dumbing down through uniformity etc....

However for the majority first world perspective, it has facilitated a perceived rise in standard of living, choice, cheap food, goods and services. All this has become possible through communication advances in interconnectivity across the globe. The whole ponzi scheme is clearly based on convincing people to buy loads of tat that nobody really needs and only really want on the basis of its easy availability, brand marketing brainwashing techniques, availability of cheap credit etc.....

During the 'good times', this interconnectivity offers a dumbed down feeling of well being; an increased happiness quotient and an illusion of being able to buy freedom.

This model is so new that it has never been tested during the bad times.

What could happen if things went bad in the Global Village ? :

Firstly the connectedness of world financial markets means that if an economic boom or bubble emerged, the whole connected world would feed this bubble. This bubble would become bigger than any bubble experienced in the post industrial revolution period.

This bubble could for instance be cheap credit.

The banks may push the envelope by lending to riskier borrowers. They might even lend large sums to people who would have no means to repay.

The bubble might only stretch so far due to finite limits.

A nervousness might set in.

Banks might feel twitchy about the amounts on the wrong side of their balance sheets.

As if by magic the debt has moved from personal loans to private company debt.

They might stop lending to each other.

Credit availability may stall.

Some banks might fail.

Governments might have to rescue banks using hundreds of billions of taxpayers monies. Government might be forced to nationalise banks. In other words Governments would be nationalising debt and privatising profit.

As if by magic the debt has been moved again. From private companies to the public purse.

This might be called sovereign debt.

Interest rates may have to be slashed.

This could cause cash flow problems further down the food chain.

Businesses, large and small, could fail because their creditors refuse to supply goods and services on existing credit length terms.

Unemployment could rise.

Government spending could rise due to increases in benefits, lower taxation revenues, bank bail-outs.

Banks could restrict mortgage lending.

House prices could fall.

Economic growth might fall.

There could be a recession.

Entire countries could get nervous. They might feel that other countries may default on their debts.

They might buy the debt in form of government bonds at higher interest rates.

Their debt to earnings ratios might rise.

Their bond yield spreads might rise.

They might have to print more money.

Their currency may have to be devalued if it has its own fiat currency.

Other countries may drive down the value of their own currencies in order to maintain an export trade advantage.

A currency war could cause uncertainty in equity markets.

Financiers might switch to gold, looking for a perceived safe haven.

A secondary gold market may emerge. There could be high street gold buying shops. There may even be TV ad campaigns asking people to send their jewellery in the post in exchange for cash.

Gold prices could rise five fold or ten fold or ......

A secondary commodities bubble could emerge.

Agricultural commodities could get caught up in this speculative market. As could fossil fuel commodities.

Food and energy prices could be driven higher.

Governments may feel pressurised to accept rescue monies from other countries. There may be strings attached.

Those strings might be an austerity program.

That program may be painful to everyone living in that country.

They may have to take pay cuts.

They may have to cut millions of jobs in the economy.

There could be civil unrest, demonstrations, protests and even riots.

The government's revenues might fall again due to even lower tax revenues.

Economic growth may fall again.

Other countries may begin to falter.

The contagion could spread like a fire.

Firstly it could just be a few kindling republics and small countries.

Then maybe some larger countries may be affected due to their trading reliance with that failed country.

Recessions could turn into depressions.

And then..................................Protectionism.... Hyperinflation.........Nationalism.........War

Sound familiar ?

GLOBALISATION ! Forget the old arguments. THINGS HAVE MOVED ON !

UK DEBT – Myth, legend and reality.

Everyone is being conned regarding the scale of our economic problems.

All political parties and the media constantly talk about the debt and the debt reduction plan.

The austerity budget has been sitting in Whitehall for a considerable time and would always have been implemented regardless of who had won the recent general election. But even that plan will barely scratch the surface.

The media and the politicians talk about a deficit of £163 billion pounds. They also talk about a budget plan to cut the debt by half in four years. THAT IS A LIE !

£163 billion is just THIS YEARS debt.

Their plan will only reduce the year on year debt to £85 billion by 2014.

The total outstanding debt is already £908 billion ( http://www.debtbombshell.com/ ) rising to £1375 billion by 2014.

That’s equivalent to £53,000 per tax payer.Imagine how long it will take the average person to save that.

Or imagine receiving a tax bill for that amount.

Just the interest on our debt for this year will be £43 billion. That's £1,900 for each and every household in the UK.

Remember this debt was largely created by bad practices in the Private financial services sector. All that has happened is that PLC debts have been transferred to Public Debt which will be addressed through 'Austerity Programs'.