Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!


Contact
Ace:
aceofspadeshq at gee mail.com
Buck:
buck.throckmorton at protonmail.com
CBD:
cbd at cutjibnewsletter.com
joe mannix:
mannix2024 at proton.me
MisHum:
petmorons at gee mail.com
J.J. Sefton:
sefton at cutjibnewsletter.com


Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups






















« Top Headline Comments 12-13-11 | Main | Mitt Romney Is "A Moderate Whose Views Are Progressive" Says....Mitt Romney »
December 13, 2011

DOOM: He took a face from the ancient gallery

DOOOOM

His Majesty the King Barack Hussein Obama is an economic illiterate. This in itself is bad enough in any public servant who has such an impact on public policy, but Obama takes it a step further by being ignorant of his own ignorance. His disdain for the opinions of his own advisers (as in the Bowles-Simpson plan) points to a man deep in the throes of intellectual arrogance. The 2012 election will either bring Nemesis to bear (if he loses), or will simply justify his belief in himself (if he wins).

I've often said it: the moment that Japan has to go to foreign markets to roll their debt, they are screwed. I think that the big story of the 2020's is going to be the collapse of Japan as an industrial power -- their demographics are lousy (they have one of the oldest populations in the world, and one of the lowest birthrates), their debt is sky-high, and they've been mired in political stasis for most of two decades now.

San Francisco’s minimum wage tops $10/hr. And I’ll bet you that most of the good liberal denizens of that burg still insist that this has no effect on employment at the low end.

Blinded by the 'animal spirits' myth.


Ludwig von Mises and the death of sound money. I'm a goldbug for a reason, folks.

Why unemployment is worse than you think.

The large demographic shift that has taken place over the last few decades—driven by the maturing of the baby boom generation—now places considerable downward pressure on the unemployment rate, which makes the current malaise look a bit better than it really is.
It's as I've said before: given the flawed way we calculate unemployment, it would be possible to have 0% 'unemployment' even if 100% of the population was out of a job. As a larger proportion of our population ages out of the workforce and into retirement, and younger people put off looking for work longer and longer, this skews the calculated numbers.

When you don’t start working until your mid-20’s and retire in your late 50’s, you’re basically taking two-thirds of your life as a vacation. This is not, needless to say, a sustainable model. And I’m not even just talking about the colossal burden the public-sector pensions and other benefits put on the public treasury; it’s also a huge productivity hit in a country that is rapidly aging and entering a period of slow economic growth.

Escape the Euro prison!

Sarkozy preps the French voters for the now-likely-inevitable credit downgrade. Zut alors!

Germany’s battle with morality. I think this is more a case of the rest of Europe wanting Germany to do the convenient thing rather than the right thing.

This is just modern China in a nutshell for me: a deserted fake Disneyland. All the pathologies are here: the malinvestment, the corruption, the disdain for IP rights (I’m pretty sure the Chinese didn’t get Disney’s okay before starting work), the unconcern for the average citizen who stands in the way of “progress”.

Gold and silver failing as safe havens? Well, I know which way I’m betting. That’s why I consider this kind of thing less as a disaster than a buying opportunity. Look at the price of gold over the last 10 years, and then tell me what other asset class has performed nearly as well. And that’s not even considering precious metals as a hedge -- that’s as a pure investment vehicle. It may be that we’re simply implemented a de facto rather than a de jure gold standard. Banks are selling gold and buying cash, but in a real way, this simply means that cash and gold become directly convertible again. In other words: gold is money.

While gold could previously generate an income from being loaned out — the result of gold producers’s hedging needs in an environment where gold demand was uncertain — it no longer can. Gold is now reflecting a negative lease rate, otherwise known as a repo rate. It means there is more demand for using the asset to obtain credit, than there is demand for asset, using credit. Or, for that matter, demand for hedging the asset.

Signposts on the way to DOOM: tuba thefts on the rise. There are markets in everything, even stolen tubas. (How in the hell would you fence a stolen tuba, anyhow? Is there some shady “Music Man” grifter somewhere in South L.A. who will fence hot band instruments to the school district? Is there some shadowy cartel of marching-band leaders who run the whole show?)

Barack Obama as Richard Nixon? The more enmeshed in his own lies Bammer gets, the more he tries to manufacture a history that is so plainly at odds with how things actually happened, the more our current President reminds me of Richard M. Nixon: embattled, encapsulated, paranoid, isolated.

“The president’s policy platform is intellectually incoherent.” But it sounds coherent to the rubes, which is the whole point of populism, and why it’s proven so successful historically. Barack Obama himself is intellectually incoherent, as is the ideology he espouses. Modern liberalism has never been all that big on introspection or philosophical consistency anyhow -- in fact the whole edifice of postmodernist theory was erected mainly to turn this defect into a virtue.

P. J. O'Rourke on the zero sum fallacy. The comments to this piece are hilarious, by the way. Liberals are always at pains to assure everyone that they understand basic economic theory, only to go on to demonstrate that they really don’t understand it at all.

The Zero Sum Fallacy is just that, a fallacy. Economic history since the Industrial Revolution proves -- be the rich however stinking rich -- we ordinary people can make more of the good things in life. But we have to make them ourselves, with our knowledge, skills and hard work. Government can't give us good things. Government doesn't make things, it just redistributes them. This brings us back to fighting with each other.

Next in line to get on the DOOM train: South Korea.

The Occutards' attempt to close the ports would hurt the 99% they claim to represent, but one of the hallmarks of the "Occupy" movement is its complete incoherence.

London's banking sector isn't exactly devastated by Europe's anger at them over the EU veto. I think that most Brits think the whole EU is more trouble than it's worth at this point.


digg this
posted by Monty at 09:02 AM

| Access Comments




Recent Comments
Ce gars qui pense toujours que ça commence.: "Alors, il commence. ..."

Not At Rampart General: "Just heard Bill Clinton is in hospital. Didn't kno ..."

four seasons: " I've always believe most of them are pervs. ..."

Aviator: ">>The commanding officer of the U.S.S. Gettysburg, ..."

I am the Shadout Mapes, Intrepid Cub AoSHQ Reporter: "OK, then, release the names of the House members w ..."

BurtTC: "I wasn't there, so I don't know whether he did or ..."

Krebs v Carnot: Epic Battle of the Cycling Stars (TM)[/b][/i][/s][/u]: "[i] We should strive to elevate the dialogue here ..."

JackStraw: ">> I am seeing rumblings out there that biden's ha ..."

pawn, RIP Vic: "Is that all? I mean really? The guy is a sa ..."

Marcus T: "Ace, Gaetz had a series of posts on X that directl ..."

Romeo13: "OK, serious question... as NONE of these charges a ..."

even Abraham ain't sure: "[i] Now do all 434 other members. As long as we're ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64