Are You Ready For Some Downfall?
After I left school when younger, I was trying to get a job during the recession in Nixon's second term. Watergate hadn't become a big deal yet. It took me well over a year to get a job, because no one wanted to hire a long-haired musician.
Even though I've been employed steadily since then, I would watch and read the business news. Gradually, over the years, I noticed a pattern emerge. As the people became employed in large enough numbers that the starting wages rose, within six months you could expect a manufactured recession to erupt.
It was always the investors deciding they couldn't make enough profit if they had to pay such "outrageous" wages. They would pull their money out of the markets, seeking "safe havens" where they would continue to accrue "value" as their enemy -We the People- were laid off, and reminded with "temporary" poverty that our place was to be kept when the investors deigned to return.
It's on again.
For whatever reasons, Obama is given credit for "saving" the economy. But for whom did he save it? He's done nothing to enhance the ability of workers to earn better wages. His highly-vaunted personal healthcare-for-all plans are falling apart.
And let's not even get into how Obama let Wall Street mortgage criminals completely off the hook.
Stung by rising minimum-wages in various states, Walmart announced the elimination of 7000 accounting and invoicing jobs, jobs which pay more (even at Walmart) than the typical "associate" is paid.
Fewer people with jobs means fewer people driving. Gas doesn't sell, storage inventories rise, and drilling isn't needed as much. Drillers don't keep staff when orders slow, and expansion projects stop:
Enbridge Inc. said it has withdrawn a regulatory application for its $2 billion Sandpiper pipeline amid a slump in production in the Bakken. New pipeline capacity won’t be needed for another five years in North Dakota...
Now you know how long the insiders expect this downturn to last. I can't discount that this is a deliberate attempt to weaken Hillary should she win.
But if drillers stop drilling, their suppliers aren't selling them drilling equipment. Look at the crocodile tears labor force abuser Caterpillar (one of the worst globally) cries over the cutbacks in business leading to 2000 Belgian worker layoffs -and as many as 20 plant closings globally- , then look at their reasons for leaving Belgium:
In July, Caterpillar said that global uncertainty, the vote in Britain to leave the European Union and the attempted coup in Turkey had heightened risks, especially in Europe.
Will Caterpillar now run run back to the US to hide under Uncle Scam's skirts for protection? You have to even think about asking?
Brexit's aftershocks have yet to cease. The Scottish Independence Movement sees an opportunity to resume the battle to separate from the UK (oil is a huge incentive for Scotland to do so). This is only the beginning.
Meanwhile, the US continues to poor good money after bad in pursuing the neocon wet dream of conquering the world and forcing submission to the US corporate will. So far, as of this posting date, $3 trillion and 7000 American lives were expended fomenting the reaction to PNAC's "New Pearl Harbor" Initiative.
What could a President Sanders have done with $3 trillion for infrastructure projects? How much in taxes would 7000 well-paid workers have put into the system? How much better off -and safer- would the world be?
We'll have plenty of time to ponder the answers to those questions once we're done scavenging the dumpsters in our area for sustenance. It will take our minds off our growling stomachs.
Comments
"Downfall" reminded me of the film
"Downfall" reminded me of the film "Downfall" (2004). The most famous scene (in which Hitler finally realizes the war has been lost, but still refuses to accept personal responsibility) has been turned into an Internet meme.
Of course the USA is headed into another recession, in fact we're overdue according to most economists. What counts is whether the next President will bail out Wall Street or Main Street. Unless you expect Jill Stein to win the election, bet on Wall Street.
"We've done the impossible, and that makes us mighty."
LOL - I thought about the same thing
Hillary Clinton in her bunker shouting about how Steiner is going to save the day, and that her orders must be obeyed!
an excellent
Clinton II Downfall from 2008: "The Voters Have Stolen My Nomination."
[video:https://www.youtube.com/watch?v=t8Ky1_pyn6Q]
Oliver Hirschbiegel
To his credit, director Oliver Hirschbiegel actually likes the "Downfall" parodies. In a way, they reinforce the viewpoint of the film- which is that Hitler might have been different from other politicians, but it's a difference of degree not kind. There is a universality to the bunker scenes that political junkies recognize. Not to mention top-notch film-making.
"We've done the impossible, and that makes us mighty."
walmart
is finished. The malls are presently dying, and soon comes, too, the Walmart end. This is a good thing. Good, too, when people drive less. Driving is stupid; people should stop it. Caterpillar makes machines that destroy the earth: it should be ended. The Scots will break free of England, and the six northern counties will unite with the rest of Ireland. The fearful doddering old white-people bedwetters in England who voted to leave the EU did the Scots and the Irish a favor, by accelerating the process. Ireland is not leaving the EU, and Scotland will promptly join up, soon as it's free of England. They understand quantum: you get bigger, even as you get smaller. The wars will end as soon as the idiot Universal Soldiers decline to pick up the guns and go kill the people the blaring mouthholes of the politicans and the generals tell them to. Until then, they never, ever, will.
Or Dead Zone?
This could be Hill or Donnie:
"They'll say we're disturbing the peace, but there is no peace. What really bothers them is that we are disturbing the war." Howard Zinn
You're on to something
Economics is inconsistent because it is not a physical science, it is a branch of psychiatry - the psychiatry of power lust and evil.
I used to think that the Oligarchs were going to create a depression just before the election to swing it to the Republicans, but now I'm not so sure. It's possible they want Hillary to win, then hit us with a depression so that the "liberals" (as if Hillary is a liberal - in propaganda land she is) will be blamed. Postponing the 4th Reich for 4 years might make it stronger.
On to Biden since 1973
Evolutionary biology, not psychiatry
Economics is just natural primate "favour trading" instincts massively amped up by evolution. Much like our reproductive instincts. Both work fine when contained within a short-lived band of tree dwellers, but when freed from all constraints they become extremely destructive, both to ourselves and to our environment (which is also ourselves.)
I doubt you can change human nature enough to get rid of economics, but maybe we could come up with some kind of prophylactic so it stays useful? An economic condom?!
We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg
Economics
Classical economics, as opposed to labor economics, behavioral economics and economic history, is an especially virulent fundamentalist religion. In what other social science, when people fail to behave as predicted by the model, do the modelers argue that the people are wrong--and set out to punish them?