Fourth Annual Noble Prize In Eco-nomics (October 14, 2019)

Posted in Economics, Economics Nobel, Awards / Incentives, Gold, Silver, Nobel Prize, Petrodollar, Noble Prize in Eco-nomics on October 14, 2019 by e-commentary.org

. . .

K          “An award acknowledging and celebrating the work of someone on the planet who really knows something about eco-nomics.  Eco-nomics is about making and sharing; e-con-omics is about taking and stealing.”

J          “The Noble Prize in Eco-nomics is a delightful and playful replacement for the discredited and misnamed ‘Nobel’ Prize in Voodoo E-con-omics.  And I get it.  You get what you reward.  You need to reward what you want to get.  Who gets it this year?”

K          “The recipients of the fourth annual Noble Prize In Eco-nomics are . . . Professors Mark Skidmore and Laurence  J. Kotlikoff who have contributed immensely and with little credit to an undertaking that tracks and analyzes federal expenditures and properly and honestly accounts for them in reconstructed books.”

J          “Solid work.  Crafting a book that chronicles and corrects the government crooks’ collective efforts to cook the books.”

. . .

J          “They shined a bright light on government accounting and may have prompted the Federal Accounting Standards Advisory Board (FASAB) to shift government accounting further into the shadows.  Late last year, the FASAB unleashed the ‘Statement of Federal Financing Accounting Standards 56 (Standard 56)’ that replaced laxly enforced government accounting and reporting standards with official obfuscation and concealment of government financing and spending.” 

K          “Catherin Austin Fitts and the Solari staff [Michele Ferri and Jonathan Lurie of The Law Offices of Lurie and Ferri] prepared a spell-binding and best-selling document “FASAB Statement 56: Understanding New Government Financial Accounting Loopholes” that provides a comprehensive explanation of the history, amendments and consequences of the changes to FASAB Statement 56.  Everyone should leave a copy in the bathroom for light reading.”

J          “The upshot is that the government is now officially no longer accountable to the public.”

. . .

[See the “Intergenerational Financial Obligations Reform Act” (INFORM Act), “Has Our Government Spent $21 Trillion Of Our Money Without Telling Us?” in “Forbes” by Laurence Kotlikoff and Mark Skidmore dated December 8, 2017, “The Tyranny of Economists  How can they be so wrong, so often, and yet still exert so much influence on government policy?” in “The New Republic” by Robin Kaiser-Schatzlein dated September 30, 2019, the book titled “The Nobel Factor: The Prize in Economics, Social Democracy, and the Market Turn” by Avner Offer and Gabriel Söderberg and “Heretics welcome!  Economics needs a new Reformation” in “The Guardian” by Larry Elliott dated December 17, 2017.]

[See the e-commentary at “Third Annual Noble Prize In Eco-nomics (October 8, 2018)”, “Second Annual Noble Prize In Eco-nomics (October 9, 2017)”, “First Annual Noble Prize In Eco-nomics (October 10, 2016)”, “Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)”, “Award Deadlines (Livelines?) (July 25, 2016)”, “From e-con-omics to eco-nomics? (August 1, 2011)”, and “Skip the Nobel in Economics (October 6, 2009)”.]

Bumper stickers of the week:

The United States of Anger backed its currency with Au (until August 15, 1971) and transacted in part in Ag (until July 23, 1965) and now backs its concoction d.b.a. the PetroDollar with Fe and Pb by bombing any country and killing any person who demurs to the US hegemony.

Boycott banks; support credit unions

They’re Back!  The Pack Is Unpacking (October 7, 2019)

Posted in First Monday In October, Supreme Court on October 7, 2019 by e-commentary.org

. . .

K          “Right after they unpack from their long summer break, the Supremes must decide whether queers are persons entitled to treatment as persons.”

J          “They should be able to decide that one quickly and pack up and go back on vacation.”

. . .

J          “The controlling Corporatists on the Court hold opinions and values that do not represent the rest of the public pack in America.”

K          “We the unrepresented pack should seriously consider packing the court and sending them packing.”

. . .

[See the e-commentary under the Categories “First Monday In October” and the “Supreme Court”.]

Bumper sticker of the week:

Sign outside the Supreme Court some years ago:  “Supremes:  You can hurry love.”

Buy A Book? I’ll Pass. Read A Book? I’ll Play. Oh, And Happy National Book Month! (September 30, 2019)

Posted in Analog Knowledge Devices, Book Reference, Writing on September 30, 2019 by e-commentary.org

. . .

K          “I passed on the purchase.  Getting it autographed did not make it real or personal or real personal.  At program after presentation after conference after low residency MFA discussion group, the honest and candid authors, sometimes fueled with spirits, concede that they are not writing a work sharing their musings with other kindred spirits, they are manufacturing a product for a specific targeted market.  The gauntlet and assembly line of editors, reviewers, focus group coordinators and MBAs hone and hammer the finished product to close the deal.”

J          “They are not saying ‘this is what I think and feel and believe’, they are saying ‘this is what I think and feel and believe you want to read and buy’ right now.”

. . .

J          “Look at the big picture.  They write in a country not on a blank slate.  But America is not a country, it is a country club with very few admitted members.  Everyone else is a consumer – not a citizen – who survives by treating everyone else like a consumer to be plucked and plundered.  We don’t even realize it.  We don’t even get it.”

K          “A Racket not a Republic.  I get that everything from the cover to the concluding line is cunningly and carefully calculated to close the deal.”

J          “I don’t want to deal.”

. . . 

K          “A number of musicians in the 60’s who penned songs of rebellion later admitted they were only writing and singing and foisting a product that would sell to a receptive market.”

J          “At least at one point in their lives they are revealing themselves to their audience, albeit at the terminus.  Of course, it you really write what you think and what you feel and what you believe, you are not likely to be read and may be banned if you stumble upon or dabble with the Truth.”

K          “There is always that.”

. . .

J          “Used books start out as new books.  Someone does have to buy the new ones to create the used ones.”

. . .  

J          “I wonder how many folks develop their weltanschauung based in part not on what an author says but on what the ‘Couloir Notes’ say the author says.”

K          “A friend’s mom asked her son to deliver one of the legal ‘Cliff’s Notes’ on ‘Property Law’ in a brown paper bag after hours so that she would know what her students were really studying and ingraining.”

. . .

K          “With a book in hand, the content cannot be changed.  With a collection of electrons in space, the content cannot be protected.  I remain a big fan of the Analog Knowledge Devices despite the inherent limitations.”

J          “The AKD is number one in my AKD.”

. . .

[See “Paging Big Brother:  In Amazon’s Bookstore, Orwell Gets a Rewrite” in “The New York Times” by Cave Streitfeld dated August 19, 2019 and “It’s a Fact:  Mistakes Are Embarrassing the Publishing Industry” in “The New York Times” by Alexandra Alter dated September 22, 2019.]

[See the e-commentary at “Artistes And Integrity (July 29, 2013)”, “Writin’ (February 17, 2014)”, “So Many Words, So Few Ideas (Sept. 21, 2009)”, “‘Analog Knowledge Devices’ (‘AKD’):  The Next ‘Currency’ (July 10, 2017)”, “Writing The Long Song (September 26, 2011)”, “On Writin’ And Livin’ And Laborin’ (September 4, 2017)”, “On Standards & Quality (July 20, 2015)” and “Brave 1984 Farm: The Best Of All Possible Worlds (March 19, 2012)”.]

Bumper stickers of the week:

October – National Book Month

You can judge a book by its cover!

Judge a book by its cover!

Judge a book by its content!

Choose books not bigotry

“You cannot alter a printed book without the reader knowing.  A missing page, a changed word will all be revealed.  Not so with digital books.  They can be altered without a trace.”  Isaac Asimov

“Orwell warns that we will be overcome by an externally imposed oppression.  But in Huxley’s vision, no Big Brother is required to deprive people of their autonomy, maturity and history.  As he saw it, people will come to love their oppression, to adore the technologies that undo their capacities to think.  What Orwell feared were those who would ban books.  What Huxley feared was that there would be no reason to ban a book, for there would be no one who wanted to read one.  Orwell feared those who would deprive us of information.  Huxley feared those who would give us so much that we would be reduced to passivity and egoism.  Orwell feared that the truth would be concealed from us.  Huxley feared the truth would be drowned in a sea of irrelevance.  Orwell feared we would become a captive culture.  Huxley feared we would become a trivial culture, preoccupied with some equivalent of the feelies, the orgy porgy, and the centrifugal bumblepuppy.  As Huxley remarked in Brave New World Revisited, the civil libertarians and rationalists who are ever on the alert to oppose tyranny “failed to take into account man’s almost infinite appetite for distractions.”  In 1984, Orwell added, people are controlled by inflicting pain.  In Brave New World, they are controlled by inflicting pleasure.  In short, Orwell feared that what we fear will ruin us.  Huxley feared that what we desire will ruin us.”  Neil Postman

Too Much Dirt; Too Few Rugs (September 23, 2019)

Posted in Collapse, Repurchase Agreement on September 23, 2019 by e-commentary.org

. . .

K          “Too much dirt.”

J          “Too few rugs.”

. . .

K          “Sweeping the dirt under the rug may not do it any longer.”

J          “Loom another rug?”

. . .

J          “Manufacture another can?”

K          “In China?  Subject to a tariff?  The road still needs to be repaired before we can kick something down it.”

. . .

J          “Raise another canary?”

K          “The market, not the government, is shuttering the coal mines.”

. . .

K          “The failure of the ‘Repo Market’ may be the Big Jolt.”

J          “Make another Market in its place?  . . .  Maybe not.”

. . .

[See the e-commentary at “Strait of Hormuz or Deutsche Bank?  Deriving Derivatives (July 8, 2019)”.]

Bumper stickers of the week:

Loom another rug; manufacture another can; raise another canary; make another Market.

“In the End, only three things matter:  How much you love, How gently you live, and How gracefully you let go of things not meant for you.”  Buddha 

Department Of War . . . Or Defense . . . Or Offense?  Oh, And Happy Peace Day! (September 16, 2019)

Posted in Constitution, Hypocrisy, War on September 16, 2019 by e-commentary.org

. . .

K          “The fourth of the half dozen aspirations in the Great Owners Manual is ‘to provide for the common defense’ and to advance that aim the Department of War was created.”  

. . .

J          “And after the Second Phase of the Great War, the American Empire/Eagle emerged full-fledged and in the following years the Department of War transitioned to the Department of Defense and the mission of the Department of Defense turned to promoting and engaging in war and acts of aggression.”

. . .

K          “The Department of Offense?”

. . .

[See the e-commentary at “September 17 – Constitution Day (September 19, 2011)”.]

Bumper stickers of the week:

Not to preserve peace but to promote war

Begrudgingly give peace a desperately small chance

September 17 – Constitution Day

September 21 – International Day of Peace

On Acceptance. And Home, Hope, Fear, Change, Uncertainty, Insecurity, Class, Income, Gender, Region, Religion, Profession, Education. And Syntax. And Race. (September 9, 2019)

Posted in Class, Education, Gender, Housing, Race, Religion on September 9, 2019 by e-commentary.org

. . .

J          “Toby Hemenway observed about life with their rural neighbors:  ‘We were on good speaking terms with all our neighbors, but never found much common ground with them.  Local parties often began with watery beer and ended in drunken fights, so we went to fewer as time went by.’”

. . .

K          “They were transferred and transported from a small fishing community to the East Coast, submitted the application to the yacht club, and waited.  And waited.  And when they inquired when they might get a response were enlightened:  ‘In about 200 years.’”

. . .

J          “He characterized the entrenched neighbors surrounding the new stewards of Green Acres as cool and distant and observed:  ‘They’ll let you volunteer all you want, but don’t expect to get invited to their homes for dinner.’”

. . .

K          “And then the other recent pilgrims band together which creates two communities in the community.”

. . .

K          “The cauldron of class, income, gender, region, religion, profession, education and even syntax create hurdles that can become barriers.  With a little understanding and a lot of work, common ground can be found.  A sincere dinner invite was even issued.  Oddly issued?”

J          “Losing that cherished ground to the highest bidder often produces legitimate resentment among the long-term locals.  They may even lose their ground merely because the taxes to hold their ground are overwhelming.” 

. . .

K          “Toss race into the pot and taste the stew.  Even today, a non-white moving into the area would trigger an overload.  Or should I say “Oddly today” the move would be awkward and uncomfortable.”

J          “And non-whites are legitimately resentful when they lose their ground to well-healed whites who move into the area and move them out of the area.”

. . .

K          “Gentrification is the private sector solution to housing and urban development.  The Department of Housing and Urban Development should be scaled back to police the market for red lining and other market impediments but otherwise not get involved in the market.”

. . .  

J          “Imagine a vegetarian tee-totaling transgender who describes their former neighbor’s cabin as an ashram and festoons it with Buddhist prayer flags and fires up solar panels.”

. . .

[See “Peak Oil and Urban Sustainability” by Toby Hemenway dated June 1, 2005 that provides much insight but does need a much sexier title.]   

Bumper stickers of the week:

YMMV

A television may insult your intelligence, but nothing rubs it in like a computer.

Laboring Day (September 2, 2019)

Posted in Consumerism, Unions on September 2, 2019 by e-commentary.org

. . .

K          “Labor Day never falls on a Wednesday.  The folks who brought you the weekend – unions – allow all of us to celebrate the weekend for one more day.”

J          “The epilogue bookend for the summer.  Labor or do not labor, but eschew spending.”

. . .

[See the e-commentary at “Labor Day.  Oh, and Happy Labor Day! (September 3, 2018)”.]

Bumper stickers of the week:

NEED MORE SUMMER!

Unions – The folks who brought you the weekend