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Clusterfuck Nation

By taxee   2012 Nov 13, 12:34am   665 views   4 comments   watch (0)   quote      

http://kunstler.com/blog/2012/10/snake-garden.html?source=Patrick.net

There's a good reason why nobody is paying attention to the election this year except the people who, one way or another, get paid to be interested: because for all that's at stake there is no coherent discussion about any of it. By 'at stake' I mean what we are going to do when the major systems we depend on for everyday life begin to wobble and fail.       There is zero cognizance even among the paid kibitzers that we are near that point. Rather, a rapture of techno-narcissism holds in thrall even people who ought to know better,...

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1   Bellingham Bill   74/74 = 100% civil   2012 Nov 13, 12:52am  ↑ like (1)   ↓ dislike   quote    

yeah, I'd like to think I coud have written that.

we worship Efficiency and Wal-mart's low overheads, but if that just results in low wages and billions going to China and WMT owners each year, it's all a net loss.

We think we gain saving money in a more "efficient" economy low-margin high-quantity economy, but what actually happens to those gains?

If we use these savings to bid up housing rents and land values, it's all for NOTHING.

Modern economics fails to undertand at all that the land market is not like other market sectors. As Churchill said back in his "progressive" days, it is THE MOTHER OF ALL MONOPOLIES.

http://research.stlouisfed.org/fred2/series/CUUR0000SEHA

shows rents have doubled since the late 80s. It's largely the same stock, so that's just this parasitic sector ratcheting up its economic rent extraction on working America.

2   taxee     2012 Nov 13, 1:16am  ↑ like   ↓ dislike   quote    

It is tough to offshore a place to sleep so the banksters get us where we live. Put a tax on it with their favorite legal tender and there you have it. The makings of a 'system'.

3   Bellingham Bill   74/74 = 100% civil   2012 Nov 13, 1:43am  ↑ like   ↓ dislike   quote    

taxee says

so the banksters get us where we live

the take on housing from banks is much less than the take from the landlords -- this is obvious as mortgages are fixed and have historically inflate away while tenants' rents are floating and rise with wages.

hell, the banks are the ones offering the escape from the landlords' rent-seeking, at a small vig of course!

4   taxee     2012 Nov 13, 1:50am  ↑ like   ↓ dislike   quote    

New rules: The financial sector is laundering funny money at a torrid pace confiscating property. Keeps the commoners working? No need for that with plantations overseas. What's a bankster to do!?

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