John Robb's Weblog

Taibbi: Obama is a tool

To the point.

KNOW YOUR ENEMIES ;->

Here's T Boone Pickens lamenting the fact that China is winning oil contracts in Iraq etc. and leaving the US in the cold. 

That kind of "nationalist" approach used to work.  However, things have changed since the world globalized (and I'm far from alone on this view).  

Frankly, I see little difference between "Chinese" oil companies and "US" oil companies or super weathies like T. Boone.  They both are aggressively antagonist to your and my future prosperity.   

So, if push came to shove and I had to decide, I think I'd conclude that US oil companies and super wealthies may actually be worse.   Why?   Simply, due to the financial burden of welfare for the rich and the role they play in distorting US governance.  

At least with the Chinese companies, you know where they are coming from and can act accordingly. 

Feeling a little philosophical today...

......  

Dying to be wealthy...

Trying to "will" the creation of financial success via a sweat lodge.  Hilarious. 

These "cults of optimism" are strange things.  A final refuge for those that have become deluded/insane from continued failure in the current system.  

I suspect these cults will get even more popular/intense as things continue to deteriorate.   

Consumer products (things)....

are the cholesterol of the soul --- they block movement, induce stasis, distort goals, and weaken relationships. In short, the more things you have, the more likely your life will end in catastrophic failure.

If you don't agree that wealth is both deserved and earned...

you must be insane or delusional (according to Paul Sullivan at the New York Times).  Oh my.  This guy is an absolute idiot.  He definitely drank the kook-aid.

_______

Torrential greed without any hint of moral constraint or responsibility is not a future worth believing in, fighting for, or participating in.  

What am I doing personally? I'm opting out of the entire mess while it melts down -- to the extent I possibly can.  How?  Setting modest goals, constrained spending (less actually = more), retirement of debt, self production to reduce costs when possible, more time with family/friends, etc. 

I suggest you do the same.

Not Praying at the alter of Financial Capitalism

The Economic Populist.   There is a live (dazed and confused) sacrifice at the alter:  the American middle class.  This is what happens when weak theoretical structures are applied with religious zeal.

Venture Capital becomes a smoking hole

Nice.  Bout' time.

Fish in a Barrel

America used to be a nation of entrepreneurs from small shop owners to farmers.  Willing to take big risks for future reward.  Unfortunately, what we now produce are merely indentured servants as this Business Week article points out.  All those fresh college graduates have been sold (at high cost and lots of debt) the idea that they would get a good job in the global system.  

Problem is that the US middle class machine is broken.  Not only have wages been stagnant/declining for three decades and costs rising at multiples of inflation -- from education to health to housing -- it's not producing new jobs at a rate that can absorb those that want to work.  Worse, the entrepreneurial system is broken too.  Creativity/entrepreneurial energy become a low cost slave of finance (banksters) due to an economic system now penalizes risk taking (bankruptcy reform legislation that is akin to the 19th Century) and a morally bankrupt/predatory system for company formation.  

Good luck kids.  My suggestion, move back in with your parents.  Get involved in resilient community industries.  When the dollar crumps (and it will), everything produced on the local level will be VERY competitive with those from the global system.

Going after bloggers....

The FTC tries to regulate blogging.  Even Facebook pages?  LOL.  

Hmm... This type of situation is ripe for privatization.  In short, the formula for privatization is: pass a stupid law that turns millions into lawbreakers, attach a big fine to it, and outsource the collection (with 50% or more of the fee going to the collector).