Idiot politicians playing capture-the-flag on the deck of the Titanic

SpacePete · Feb 15, 2017

From Howard Kunstler's blog:

Don't be fooled by the idiotic exertions of the Red team and the Blue team. They're just playing a game of "Capture the Flag" on the deck of the Titanic. The ship is the techno-industrial economy. It's going down because it has taken on too much water (debt), and the bilge pump (the oil industry) is losing its mojo.

Neither faction understands what is happening, though they each have an elaborate delusional narrative to spin in the absence of any credible plan for adapting the life of our nation to the precipitating realities. The Blues and Reds are mirrors of each other's illusions, and rage follows when illusions die, so watch out. Both factions are ready to blow up the country before they come to terms with what is coming down.

What's coming down is the fruit of the gross mismanagement of our society since it became clear in the 1970s that we couldn't keep living the way we do indefinitely that is, in a 24/7 blue-light-special demolition derby. It's amazing what you can accomplish with accounting fraud, but in the end it is an affront to reality, and reality has a way of dealing with punks like us. Reality has a magic trick of its own: it can make the mirage of false prosperity evaporate.

That's exactly what's going to happen and it will happen because finance is the least grounded, most abstract, of the many systems we depend on. It runs on the sheer faith that parties can trust each other to meet obligations. When that conceit crumbles, and banks can't trust other banks, credit relations seize up, money vanishes, and stuff stops working. You can't get any cash out of the ATM. The trucker with a load of avocados won't make delivery to the supermarket because he knows he won't be paid. The avocado grower will have to watch the rest of his crop rot. The supermarket shelves empty out. And you won't have any guacamole.

There are too many fault lines in the mighty edifice of our accounting fraud for the global banking system to keep limping along, to keep pretending it can meet its obligations. These fault lines run through the bond markets, the stock markets, the banks themselves at all levels, the government offices that pretend to regulate spending, the offices that affect to report economic data, the offices that neglect to regulate criminal misconduct, the corporate boards and C-suites, the insurance companies, the pension funds, the guarantors of mortgages, car loans, and college loans, and the ratings agencies. The pervasive accounting fraud bleeds a criminal ethic into formerly legitimate enterprises like medicine and higher education, which become mere rackets, extracting maximum profits while skimping on delivery of the goods.

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SpacePete · Feb 15, 2017

"The Blues and Reds are mirrors of each other's illusions, rage follows when illusions die, so watch out."

I wonder how this would manifest itself in Australia? Would politicians direct their rage towards the people? Would they seek to take everything not nailed down or lost in tragic boating accidents?

errol43 · Feb 15, 2017

IMO The red and blue teams in the USA are going to tear each other apart...Hatred is spreading like a wildfire..Turn the people against each other then the bankers will sit back and watch the carnage.

The same will happen here in Australia...US Banks will no longer lend money to the big 4 banks here in Australia and so the housing bubble will burst and neither the red or blue team will stop it.

Derivatives, well that another story!

Regards Errol 43

SpacePete · Feb 15, 2017

errol43 said:

IMO The red and blue teams in the USA are going to tear each other apart...Hatred is spreading like a wildfire..Turn the people against each other then the bankers will sit back and watch the carnage.

The same will happen here in Australia...US Banks will no longer lend money to the big 4 banks here in Australia and so the housing bubble will burst and neither the red or blue team will stop it.

Derivatives, well that another story!

Regards Errol 43
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I'm really worried about this scenario and I think we could all be caught in the fallout to some extent. Is there any way to truly shield ourselves from the impact, or at least minimise the pain?

Am I overly paranoid? Reminds me of BuggedOut's awesome comment from another thread about being an enabler :lol:

BuggedOut said:

True enough.

Skyrockets disaster scenario might only be a slim chance of happening, but the point is he wants to protect himself in that scenario so at the risk of being an enabler for his paranoia, I think the analysis and advice I've given him is valid.

As the saying goes - Just because you're paranoid doesn't mean they're not out to get you
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Shaddam IV · Feb 15, 2017

Shorten and Turnbull are just two idiots fighting over the controls of an aeroplane that neither knows how to fly.

BuggedOut · Feb 15, 2017

SpacePete said:

I'm really worried about this scenario and I think we could all be caught in the fallout to some extent. Is there any way to truly shield ourselves from the impact, or at least minimise the pain?

Am I overly paranoid? Reminds me of BuggedOut's awesome comment from another thread about being an enabler :lol:
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LOL. Wasn't expecting to see a quote of mine pop up this thread, but if it fits into context then fill your boots I guess

My thoughts are that if the US situation deteriorates in the way you describe within the next couple years then the impact in Australia will fall squarely on the shoulders of the federal Liberals - who have already blown their credentials of "sound economic management" with the debt blowing out to half a trillion and most likely a loss of AAA rating. With the PC crew already pushing Australia hard to the left in almost every aspect of our lives (from government to media to education) then I'd expect a big landslide to Labor and the Greens who will have an open goal to kick the socialist platform home. If banks start falling over due being over-leveraged to a real estate market collapse then it may well be the end of capitalism as we know it in this country.

In this scenario I am wanting a self managed super fund, a well stocked bitcoin account, a valid passport and working visas in maybe NZ, UK or even Switzerland 'cos I reckon it won't be real pretty here. Imagine Cronulla riots x 20 and the upper-middle class being targeted.

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