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#TrumpRecession Trends as President Blamed for Rising Fears of Another Economic Meltdown

I remember those days in the early '80’s. My oilfield half-ton was being paid off at 18%; my microscope at twenty-something %. Luckily you made money fast in the ‘patch’, and both were paid off within the year, much to the astonishment of the bank !

But really, it is spurious to blame Trump, who is in fact just the latest installment of what has long been a tried and true racket - the financial world casino.

And it is not an economy - it is a chrematistic system, both words being from the Greek.

An economy (oikonomia) - is basically how to run a household - a frugal and prudent one, with a future.

We run a make believe economy, where assets & resources are considered infinite - where limits do not exist - BUT - remember this - it is a make believe world -

In reality, there are limits, and resources are finite. We are living on borrowed time, and printing dineros as required, with the make believe name quantitative easing - to keep the roulette wheel spinning.

Make no mistake - the financial world is a casino - and 99.9% of us are just pulling slot machine handles, as the guaranteed profits go to the House.

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Yesterdays radio agricultural report and an interview of a corn farmer in Illinois.
Too much rain delayed planting by weeks. Both corn and soy yields will be approx 24 to 27% below 2018. Illinois sold about 27% of their crop to China last year. Price has stabilized.
Looks like a wash to me.

Soy is gods gift to mankind. So is canola. There is Cargill refinery on Torrence Ave. at 122nd street in Chicago.

just another capitalist moment - recessions and depressions part of the fun parts! much as I loath the guy in the white house, he is just another actor in the play of this horrific economic system. time for a big change -

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So I am led to believe, under normal circumstances that has been the history.Are these normal ? We’ve never seen anything like this before.Anyway if not this month then next !!

Love it…

This quote from Rome’s historian illustrates nicely what I so ponderously tried to explain earlier re economy vs a financial, highly stratified, non-meritocratic system, which Rome devolved into, as have We.

Livy - “The Early History of Rome”

“I hope my passion for Rome’s past has not impaired my judgment; for I do honestly believe that no country has ever been greater or purer than ours or richer in good citizens and noble deeds; none has been free for so many generations from the vices of avarice and luxury ; nowhere have thrift and plain living been for so long held in such esteem. Indeed, poverty, with us, went hand in hand with contentment. Of late years wealth has made us greedy, and self-indulgence has brought us, through every form of sensual excess , to be, if I may so put it, in love with death both individual and collective.”

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Last time out they created an actual depression –
And they’re profiting still in many ways from it with overturning of
real estate in all of our towns.
Huge profits in volatile markets –
Steady market is hardly worth it for them.

Also remember that despite the economic lies, the people never fully recovered from the last recession. They are still stumbling and now this new one seeks to knock them out for good.

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‘A White House official says’ - I think that tells us all we need to know about trumpty dumpty. He is in it for what he can get out and stuff everyone else except him and his filthy rich cronies. We have heard it all before from right wing bigots like him and they are no more trustworthy now than they were before. The sooner this orange lying idiot is kicked out of power, a better place the world will be.

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Your answer is so much better than the one I had in mind: that I don’t mind celebrating the DJIA crashing, because that’s the one thing pretty sure to rid us of this tyrant. I’d rather have someone else president, for what it’s worth, as the Climate Catastrophe shifts into overdrive.

Full moon on the way, today. I just had a thought on my evening walk: What if the enhanced tidal action from a full Moon is unexpectedly more enhanced, at the North Pole just now, because all the sea-ice is utter rubble up there? Possibly there’s a breaking point where the body of water in the Arctic Basin has a lot less stiffness, and consequently responds more readily to the pull of the Moon. We’ll see today, maybe. We might rapidly see an update to the whole Earth’s tidal system (for all I know).

I doubt that this makes any sense: the Moon’s pull is the same whether it’s ice or water, so I’m probably full of it (as usual). Then again, if Arctic sea-ice extent suddenly takes a dive, like the DJIA…

As long as the poor schmuck he shoots is okay with that trade-off… volunteers??

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Hi again manysummits. You asked before and I never got back to you. I grew up on a farm in Southern Illinois on the Ohio River across from Paducah, Ky. Many great river systems merge there. Also near the sites of prehistoric Mound Builders.

Ciao EB !

Just woke up - Illinois - rivers - I was once a member of the Historic Trails Canoe Club in Saskatchewan - been on a few rivers, let’s say.

You know, pretty much everything is totally dependent on this financial house of cards we modern ‘mound builders’ have constructed - pension funds - every loan and financial instrument in America, and around the world. That’s why the bailout in '08 - no choice -

I sometimes wish I was as dumb as that proverbial hammer, and I wouldn’t have to think about all this.

I’ve learned that necessity is the only good reason for doing pretty much anything. Well - the necessities are piling up on all of us as we speak, and we are going to need to all work together. That would be the silver lining - that would take us back in a manner of speaking.

But I may in fact be suffering from optimism here. There are forces at work that are too complicated for our small brains - and too big to be controlled in any case. The only course of action is to focus and work thru it. These forums help - strange ?

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MCH –

Remember that the first thing they did after orchestrating the removal
of Henry Wallace and then FDR to put Truman in play …
was to raise the CIA to replace the OSS – to serve Elite need for intelligence.
And the first Operation drafted in 1943 by Cord Meyer was Operation Mockingbird
to take our free press.

Without a free press the American public has wandered around in a daze since then –
only the arrival of the internet – 20 years ago? – has finally opened some cracks in
where they can find truth and figure things out for themselves.

But – after 50 years of voting on hack-able computers it may be too late.
Immediately they began to report very odd and unlikely wins by the right wing.

I doubt there ever was a “Southern Strategy” by Nixon …
I think they were from that time relying on the computers.

Basically, afaics, the South still hasn’t been freed –

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And what trump’s deplorables don’t yet get, is that trump would throw any or all of them under a bus if it were to profit him. There is no fan loyalty for any of them, except for their votes.

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I cares! You are touching on the solutions to the problem of the deficit and money creation but seem to be bound, if I may say so, by the same fixation that prevented John Maynard Keynes from coming up with the solution. That fixation is that money creation by the banking system is the same in its effect as money creation by the government. It is the difference between bank-created credit money on the one hand and government-created ‘fiat’ money on the other hand.
Bank created credit money is balanced by the debt of the borrower for the same amount and which bears interest, which the bank collects. This totals to about 97% of the M3 money supply. The lending process is the method whereby the money comes into existence and into circulation at the same time.
Government-created ‘fiat’ money, is printed money. The government can pay debts with this money.
It can pay teachers or buy food and give it to people, if it chooses. No interest need be counted.
The increase in the money supply dilutes the value of the currency in both cases, equally.

Remember that there is a difference between a central bank owned by the government, as is the Bank of Canada and the Bank of England, and the Federal Reserve Board which is privately owned , although it gives much of its profits to the American Government. Remember, also, that, with the present system, it is the private banks in the banking system in all countries, that do most of the money creation which gives them most of the profit and causes most of the inflation.

To control the inflationary money creation by the private banks we need to bring back, or increase, the cash reserve ratio of reserves to deposits, of those banks. At present it is zero in Canada, and 3% in the United States. In former times it was much higher and banks were still profitable.

If the National Debt were to be gradually paid off, by Fiat money, the interest on that debt would be reduced to zero. The increase of the money supply, if excessive, could be reduced by using the increase of the cash reserve ratio to smooth the transition.

We can finance everything necessary to do for the environmental crisis, but we can not do this on borrowed , and therefor interest paying, money, in my opinion. Am I wrong?

Sorry Kazzamm,

I’m checking old comments and got to yours.

So, volunteers?

I volunteer Jeffrey Epstein. Whoops, sorry. Too late.

Somebody else got to him first, and made it look like Jeffrey offed himself.

In the long run, this silly game is cooked, because the people will put their money where they need it.
People who say this is impossible are looking to the limitations of the past, which no longer apply.

I am in favor of money being created entirely through the Treasury and support Wray in the federal government massively restricting the issuance of bonds. I think the government can create bonds for things like the Social Security Trust fund, so that the pile of money there doesn’t just exponentially lose money as a result of inflation. I also am a supporter of not just of increasing the reserve ratio, but having a much stronger public banking system and controlling far more directly what banks can create money for.

I would argue against the notion that we borrow money though. We really don’t. The government creates money and uses bonds now more than anything as a means of the Fed meeting its targeted interest rate. A government that has the sole power of creating money doesn’t need to borrow money it creates. The way we create money is a relic of the gold standard era, and as usual, those in power have no capacity to imagine a different system because they on the one hand benefit from the present system (as do their donors and the owners of the media) and because they are also mediocre thinkers. But whatever the case, the notion that we shouldn’t pay for what is needed in response to the environmental crisis because of interest on public debt (which could, technically be paid off tomorrow) is insane. It is like there being an asteroid coming for the planet that could kill us all, and us maybe having the capacity to shoot it down but choosing not to because of concerns over inflation. That is about the level of stupidity I hear from people on TV and in the dominant media when talking about paying for what is needed to deal with the environmental crisis. What good is their damn money if we live in a Mad Max existence?

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