ahhh the salad days of yore
by now i suspect the following thought has occured to all of us too many times even to to count:
the credit crisis last year was mighty damn convenient ....eh?? ....global outlook wise
and so now that uncle Saps "peoples' credit line" has forstalled
an amazing game of golden pick up sticks as frenzied brigades of suits
wrestled each other over the wreckage of wall street ...
so okay...ummh so ...hey ...where's the... like ....recovery man??
indeed if alls well on wall street
why the jobmart horror projections stretching to the far horizon??
well --as ronnie used to say--
the underlying production platform of our global economy
was so utterly out of kilter from all the prosperity building these last 20 years
it needs a nice long slow down .... some yellow flag time
soz it can get about the business of..
well... a massive planetary all markets structural readjustment
unlike costless infusions of cash ...rebuilding the production platform
takes time and a good deal of creative destruction
and often of the sort that turns rivers into creeks creeks into
oh hell that don't work as an analogy
its more like we gotta start
turning boundary crossing turnpikes back into back roads and back roads into foot paths and...
you get the gimmick
pretty much flipping the flops and flopping the flips ...everywhere from somewhere to no where
even if trade flows between points A and Z remain fairly heavy
they might need a serious rebalance
like err
what has five lanes one way now say Z => A
and two lanes the other way A=> Z
shift
down to 3 from 5 and up to 4 from 2 ...errrr some time in the greater tomorrow
after the sum total effective demand (7) returns that is
----------------
then what about looking at this from the job class amerika POV
ie what's our prospects ???
well folks the present hideous grinding of the flesh of a zillion human gears
must go on...and on ....and on and on
bad message
whats the best scape goat??
what else NEW DEAL 2.0
blamed it all on those silk hat fuckers
the finacial royalists
the class distant wally world machinators
that small nasty group of evil white men
imagine this xmas
scenes of zombies wacking those cosseted bland syrenes of prosperity past
on a wide screen above the twilight gloom of an mall atrium
as shoppers without credit
shuffle about below consoling their little muzzlers
hey this will go on it must go on
long after the technocrats have restored the system to working order
we can only watch and wait for sunrise at the production plants
patience grit and personal pride
those are the citizen virtues
we the weebles will be called upon to publically and privately express
down here in the job short streets of gooberville misery will have a whole job nation as company
------------
my fellow patriots :
" God bless our dear ole american safety nets
and please dear congress
pass the universal health "
what a blood curdling roar that will make in an elite merit ear
Comments (11)
Next thing you know, they'll be ransoming social innovators.
Posted by Jay Taber | September 24, 2009 4:55 PM
Posted on September 24, 2009 16:55
i'm beginning to really enjoy this site
it's like sliding away toward the equator
on my own ice island...with a few chums
we have nearly no visitors left
and no father smiff
a connection ??
what gives ???
has the skipper
gotten up another site some where else
in the web cloud ??
and not told his old school pal owen ???
no need to go to all that bother
i'm easier to brush off then this....
paging mr pingo
mr van dildo
mr wan swago
Posted by op | September 24, 2009 6:21 PM
Posted on September 24, 2009 18:21
Oh no, the volume of intelligent discussion started dropping off rapidly two years ago. Several regular and thoughtful blogger participants faded away during that time period. Some said they figured they'd said what they had to say, others failed to see the point of keeping discussion alive, but thanked us for doing so.
In a way, it's understandable; not many can appreciate the cultural importance of documenting civilization in freefall, or savor the senselessness of such phenomena as futuristas.
Alas, in lieu of a Norte version of Sendero Luminoso, what else is there to do?
Posted by Jay Taber | September 24, 2009 9:20 PM
Posted on September 24, 2009 21:20
jay comrade..
nothin' beats the tang
of consoling Job
Posted by op | September 25, 2009 9:08 AM
Posted on September 25, 2009 09:08
http://www.imf.org/external/pubs/ft/weo/2009/02/pdf/c4.pdf
here's a sober global forecast
by old nambo mac's outfit
Posted by op | September 26, 2009 8:39 AM
Posted on September 26, 2009 08:39
albi's for the job famine
"(1) bankruptcies that lead to fire sales of capital assets that have significant sunk costs and take time to rebuild,"
this is a compaction of processes
that makes gibberish out of them
organizations blow up and their productive capacity is sold off
fine
to build an organization to utilize these purchased capacities uses up one time money(sunk costs)
if the industry has slack already
why rush
however by effective ddemand management
the industriea demand can be resotred rapidly
re activating capacity becomes profitable etc etc
etc etc
"(2) an impaired financial system that needs time to heal before it can intermediate financial capital effectively, "
nonsense the bastards just find
no worthwhile ventures to loan to that want loans
the old no way to push a string bit
without demands for loans from credit worthy outfits
how is the credit system to speed its flow rate up
regardless of its internal condition
which is
already ...spiffing btw
the groans are pure theatre
"(3) labor and product market rigidities that impede the necessary reallocation of labor and capital following a crisis "
this is silly
reboost demand and these sectors will return to higher employment levels
so if a whole earth output stag
isn't necessary
why we got one ??
the measures necessary to set the system into sustainable rip along forward motion
would require a massive interclass burden shift
more on this soon
Posted by op | September 26, 2009 9:04 AM
Posted on September 26, 2009 09:04
"(a larger increase in government consumption) is significantly associated with smaller medium-term output losses "
this steps on the toes of the prior alibi
" The evidence on the monetary policy stance is mixed, possibly reflecting a weaker monetary policy transmission mechanism after banking crises. A decline in real lending rates is associated with smaller output losses, but only in some specifications "
again alibi toes get crunched
---more the duh !! department
chiming in here though---
nasty corporate curve ball:
"There is also some mixed evidence that real exchange rate depreciations are associated with smaller output losses"
the thin edge of the wedge here
aggressive exchange rate management after a hi fi implosion
leave south states in debt traps
hardly want the dollar rate to soar
since their debt is in dollars
Posted by op | September 26, 2009 9:14 AM
Posted on September 26, 2009 09:14
trans nat agit prop
call this
the now the roof has caved in over their
"yes we can open her " effect
"Liberalization of the capital account is highly correlated with smaller output losses in small-scale regressions,"
"full speed ahead Smithers"
alas
"although .. statistical significance declines when considered in larger-scale frameworks "
note the scholiastic fudge here
its not for me to untangle the econmetrical casuistry here
but obviously this finding devoutly to be wished
isn't "robust
" Trade liberalization is not significantly related to output losses "
my my open borders can't speed recovery
how counter trans nat eh??
well not fully
note findings indicate
no co-relation not negative co-relation
well my guess open trade borders
seriously impede recovery
but states are fast trying to pay back
north debts
and this
will require open trade gates
Posted by op | September 26, 2009 9:29 AM
Posted on September 26, 2009 09:29
"fact, fiscal expansions in economies with unsustainable debt levels could be counterproductive"
amazing despite thhe clear benefit
why???
the poor geefette state has
an "unsustainable "foreign debt load
note the trans nat corporate claw hold's counter productive effect
Posted by op | September 26, 2009 9:35 AM
Posted on September 26, 2009 09:35
here i'm blaming bob mcnamara's bank
and
the report is from....the IMF
Posted by op | September 26, 2009 11:31 AM
Posted on September 26, 2009 11:31
They're both death panels, Owen. Same provenance, style, metrics, etc. etc. Don't worry about it.
Posted by Al Schumann | September 26, 2009 11:53 AM
Posted on September 26, 2009 11:53