Messages

Pour encourager les autres

It is like something out of the Middle Ages that would happen to Ireland. The great game.

https://www.theguardian.com/politics/2016/nov/19/europes-leaders-force-uk-hard-brexit-farage-le-pen

This is the thinking that brought the people a decade of austerity. Austerity has brought us Brexit, Trump and maybe Le Pen. So they decide on more austerity.

I remember in 2010 Miriam O Callaghan was interviewing someone from LSE and he said the solution to Anglo and AIB was debt for equity. Some things never make it into the narrative. Everybody takes the piss out of Labour's way or Frankfurt's way but they were right
Debt won. And delivered deflation

The only way to stop what is happening is to generate enough political power to kill debt.

Last year $6tn in new debt was issued globally. Same the year before and the year before.
There is around $26 tn in money in the system doing nothing.  7tn in cash. $11.7 tn in negative yield bonds. $7 tn in passive

And nobody is getting payrises. 

Detroit got to the point where the nonsense couldn't continue any longer and they had to cancel debt.

http://www.ft.com/cms/s/0/11903b18-f603-11e2-a55d-00144feabdc0.html
The decision undermines long-held assumptions that GO bonds will be put ahead of other liabilities, such as employee pension and healthcare promises, investors and rating agencies say. In turn, that could lead to lower assessments of the bonds' creditworthiness and higher funding costs, at least in Michigan if Detroit's bonds are found to be unsecured under state law.
Mr Snyder laughed off such concerns as suggestions that he would "destroy the modern world".
Such jockeying is an inevitable part of the bankruptcy process, the two men said. "Some of this is bad theatre. This is off-Broadway stuff," Mr Orr said. Creditors and other claimants, including city employees' unions, "have to do this for their own constituencies".

https://www.youtube.com/watch?v=10pmPiK8pi8

Pour encourager les autres

It is like something out of the Middle Ages that would happen to Ireland. The great game.

https://www.theguardian.com/politics/2016/nov/19/europes-leaders-force-uk-hard-brexit-farage-le-pen

Bob the Builder has never been involved in politics so he doesn't really know how to do it. Can we fix it ? Yes we can. But that was an Obama phrase, wasn't it? This week Bob has to drain the swamp.

He has drafted in a number of heavy hitters. Noddy will be in charge of national insecurity. Big Ears is not going to do anything about Climate change. The 3 bears will dismantle Financial regulation to make the system safer. Goldlilocks will leave her job at Breitbart and tell lies to everyone. Dora the explorer will be interned. The little matchgirl was one of Bob's biggest constituencies but she is a loser. She doesn't need a tax cut like Scrooge McDuck does.  The ugly duckling is a warmonger just like his father, Mr Potato Head. Aladdin and Sindbad will have to register.
Bob has the attention span of a gnat. He has been groping  Miss Pink Cat all night.

The man has not spent one second in office but a lot of you have him wrecking the world.

I have no use for him but I will reserve judgement on him until he, ya know, does shit in office.

100 days, the first hundred days will be enough time to figure out if he is another useless dog like Obama or if he could be decent.

Stew I'll save you the effort
He'll be worse than Obama

Laois.  How does that look to English people, I wonder

Clontuskert outside Ballinashloe
All the locals say Cluain Tuaisceart

Skeheenarinky in Tipp

Bob the Builder has never been involved in politics so he doesn't really know how to do it. Can we fix it ? Yes we can. But that was an Obama phrase, wasn't it? This week Bob has to drain the swamp.

He has drafted in a number of heavy hitters. Noddy will be in charge of national insecurity. Big Ears is not going to do anything about Climate change. The 3 bears will dismantle Financial regulation to make the system safer. Goldlilocks will leave her job at Breitbart and tell lies to everyone. Dora the explorer will be interned. The little matchgirl was one of Bob's biggest constituencies but she is a loser. She doesn't need a tax cut like Scrooge McDuck does.  The ugly duckling is a warmonger just like his father, Mr Potato Head. Aladdin and Sindbad will have to register.
Bob has the attention span of a gnat. He has been groping  Miss Pink Cat all night.

The Swedish Chef graduated first in his class at West Point and is being mentioned for Department of Defense

https://www.youtube.com/watch?v=uCRwA93GZwQ

Venus in furs : The velvet underground

https://www.youtube.com/watch?v=AwzaifhSw2c

The US is a pretty young country. The Constitution is worshipped but it is mortal. they also worship the flag.
And the second amendment.

Because in 1770 a well regulated milita would do the job. But it didn't stop Trump, did it? Guns are useless against psy ops. So checks and balances are a thin reed against which to lean.

Arguably the Constitition had 2 historic existential challenges. The Civil war and Civil rights about a century later. Both were resolved but unsatisfactorily. The same rednecks voted for  an autocrat this time around. Civilisation is a thin veneer as well.
This is the third existential challenge. We just don't know how it will play out. 

An awful lot of the current mess can be traced back to people like Milton Friedman, Thatcher and Reagan

https://www.youtube.com/watch?v=pabjqmYWGkM

https://www.youtube.com/watch?v=O1ElL3BdwBw

Oughterard

What a pathetic transliteration though

Uachtar Árd is glorious

Galway city has a few names straight out of the Gaeilge like :

Lough Atalia/Loch an tSáile
Bohermore/Bóthar Mór
Doughiska/ Dubh Uisce
Shantalla/ Sean talamh
Liosbán
Ros cam

and many locals pronounce them as per the Gaeilge

Pep is very impressive. He is like the Dermot Earley of soccer

Wayne Rooney gained support from an unexpected source when Pep Guardiola put a dent in his own image of saintly perfection by admitting he, too, used to drink while away on international duty.
"I was lucky there were no pictures," the Manchester City manager said. "I won't comment on the private lives of others because I don't like it when people comment on my private life but when I was an international I sometimes had a drink. When you drink, you are the one responsible. I don't think the association has to be responsible. We are people, we are old enough to take responsibility. Everyone is entitled to a private life so we have to respect what other people do."

There is dignity in all work. Apart from working for hatemongers
It's not a competition

Johan Cruyff : 

"It's like everything in football – and life. You need to look, you need to think, you need to move, you need to find space, you need to help others. It's very simple in the end."

https://www.youtube.com/watch?v=2GtwCfjI0Z8

I don't believe that Trump can save the US economy. I would love to know what sort of payrises the Trump faction on here have been getting over the last 10 years. Have we got anyone in the richest 1% ?

The richest 1% of Americans own 50% of everything.
They earn 18% of everything.
And between 1975 and 2007 they captured 58% of all income gains in the US. It must be higher now. Let's say it's 65%
Basically via debt. So their share of income continues to increase at the expense of the schmucks who voted for Trump.
So if Trump wants to get interest rates up ordinary people need to get a bigger share of income.

But Trump's tax cuts will go 50% to the richest 0.1%
So basically there is NO WAY that bluecollar voters will see any improvement in their circumstances.
And without any improvement on Main St the economy cannot grow.
So it will crash.

150 million Americans will go to work on Monday and they might as well stay at home. There is no point in going to work. 
At this stage it doesn't matter what Wall St thinks either. It really doesn't matter. The system is the system.

If you want to do something coherent organise a strike before Trump goes to war.   

http://www.politico.com/story/2016/11/donald-trump-wall-street-bankers-231524

https://www.youtube.com/watch?v=5VLVSegdOxQ