Category Archives: Society

Energy and resources limits what humans can do. So do their own systems. Financial systems fail, corruption, wars, religion, politics and more all play a role in how successful societies are and how wealthy their citizens are. As the distribution of wealth grows more unfair, the population is so immiserated at some point that collapse and a new society emerge

We’ve been “Bankalized” Banks rule and always will

Posted on April 14, 2014 by

Ilargi Nov 8, 2010 I read an article Ashvin Pandurangi, our by now greatly valued roving reporter, sent me, entitled “Plutocracy Now”. Ashvin writes about that first notion I was pondering: the nationalization of US banks, though for him it’s … Continue reading →

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Jeff Rubin: Oil and the End of Globalization

Posted on April 14, 2014 by

Jeff Rubin: Oil and the End of Globalization Nov 8, 2010. ASPO-USA Much of the article has been snipped below: It is easy to see how sub-prime mortgages blew up Wall Street; it is a little more challenging to see … Continue reading →

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Foreclosuregate

Posted on April 14, 2014 by

Back-Office Blues  Nov 8, 2010. James Surowiecki. The New Yorker. In the late 1960s, Wall Street was crippled by an unlikely nemesis: unfinished paperwork. Thanks to a booming stock market, trading volume had soared in the course of the decade; … Continue reading →

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Ashvin Pandurangi on social disorder and the military

Posted on April 14, 2014 by

The Debt-Dollar Discipline: Part III – Future Reorganization Dec 13, 2010. Ashvin Pandurangi [giant snips and rearrangement of material] Machines of societal oppression, whether they are equipment or computerized devices, cannot continue to function at their current rates of activity … Continue reading →

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Why do people fall for Ponzi and other schemes?

Posted on April 14, 2014 by

Fooled by Ponzi (and Madoff). How Bernard Madoff Made Off with My Money  Dec 23, 2008. Stephen Greenspan. Skeptic.com There are few areas of functioning where skepticism is more important than how one invests one’s life savings. Yet intelligent and … Continue reading →

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Sovereign Default predictions

Posted on April 14, 2014 by

Martin Weiss on why there will be a sovereign default someday: Diversification across asset classes didn’t help in the 2008 crash. Stocks fell. Most bonds fell. Real estate fell. Commodities fell. And most currencies fell, with only risk-aversion trades working. … Continue reading →

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One year Moratorium on Mortgages

Posted on April 14, 2014 by

Ilargi Feb 2, 2009   http://www.theautomaticearth.com/ [As Dmitry Orlov points out in Dmitry Orlov: How Russians survived the collapse of the Soviet Union “In the Soviet Union, nobody owned their place of residence. What this meant is that the economy could … Continue reading →

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Let banks fail, says Nobel economist Joseph Stiglitz

Posted on April 14, 2014 by

Haidar, Suhasini. Jan 29, 2017. Trump makes sense to a grocery store owner. thehindu.com Economist-mathematician Nassim Nicholas Taleb is seen as something of an oracle, given that he saw the 2008 economic crash coming, predicted the Brexit vote, and the … Continue reading →

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What derivatives are and why you’re screwed

Posted on April 14, 2014 by

You are the Crisis Feb 2, 2009 by Ilargi at theautomaticearth Oh no, we’re not rid of the bad bank drivel yet, are we? I started out trying to make a point about the character of the paper a bad … Continue reading →

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Wall Street’s version of capitalism is a fraud wrapped inside a delusion

Posted on April 14, 2014 by

Demerit-Based Pay Feb 5, 2009. Eric J. Fry. Rude Awakening Russia, according to Winston Churchill, was a “riddle wrapped inside an enigma.” Wall Street’s version of capitalism, according to us, is a fraud wrapped inside a delusion. The fraud is … Continue reading →

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