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Tuesday, May 10, 2016

Cup Running Over


Sloshing a Bit,

The Pentagon has so many tanks and armored personnel carriers that local police forces can't take it all, so Homeland Security gets the full upgrade to occupation-force specifications. It's for use against illegal immigrants, the people who build our roads and houses and cook our food.
http://www.alternet.org/civil-liberties/troubling-development-pentagon-allowed-supply-military-gear-directly-homeland

"Isaac Herzog, member of the Knesset and Chairman of the Israeli Labor party, revealed that Saudi King Salman bin Abdulaziz financed the election campaign of Israeli Prime Minister, Benjamin Netanyahu."
Bernie Sanders beats not-a-coal-miner's-daughter, Hillary Clinton, in West Virginia.
http://www.zerohedge.com/news/2016-05-10/bernie-beats-hillary-again-west-virginia

Hmmm, Turkey might get even more authoritarian, now that Erdogan got rid of Davutoglu.
https://globalvoices.org/2016/05/10/turkey-erdogan-davutoglu-foreign-policy-eu-kurdish-issue-human-rights/

Stuck in limbo on a Greek island. (This isn't a bug, it's a feature. The destruction of Greece forms a barrier to keep the less talented and poorer war refugees out of Europe.)
http://www.reuters.com/article/us-europe-migrants-greece-idUSKCN0Y012D

EU plan-b is to just convert Greek islands into vast(er) internment camps if the Turkey deal doesn't work out.
http://sputniknews.com/europe/20160510/1039347243/turkey-eu-migrant-greek-islands.html
The Telegraph (UK) says Greece will be a failed state without debt relief, which is what financial bloggers have been saying for at least 5 years.
http://www.telegraph.co.uk/news/2016/05/09/greece-will-be-failed-state-without-debt-relief/

Paul Mason of The Guardian, has a more nuanced view. This can be EU-splitting.
Citizens everywhere will be forced to face their massive losses, as the cookie-jar IOUs are completely inedible.
The EU has to give debt relief, or realize losses in Greek default. The fiction is unsustainable. It's unraveling...
"Those applying the force were the German elite and a collection of east European countries who have in common weak democratic traditions, mafia-infested economies and rightwing electorates still traumatised by the Soviet era. Then, in a second act of force, by overturning the Dublin Treaty and letting nearly a million refugees come to Germany, Angela Merkel destroyed the coalition that had imposed the defeat on Greece. Eastern Europe has defied Merkel’s call for refugee quotas and answered her appeal for humanitarianism by putting razor wire at every border choke-point."
http://www.theguardian.com/commentisfree/2016/may/09/the-choice-for-europe-rescue-greece-or-create-a-failed-state

Just-call-me-Dave Cameron, (of pig-necrophilia fame) says that Europe might descend into war if the UK pulls out of the EU. (He does not say that this is already planned in any event.)
http://www.telegraph.co.uk/news/2016/05/08/cameron-brexit-will-increase-risk-of-europe-descending-into-war/

Trump said the US could print it's way out of debt, and that's right. It's been doing just that.
" It’s generally the case that whatever profit a central bank makes at the end of the year, it hands to the treasury. So when the central banks bought the government debt, they became the recipients of the government’s debt repayments, and those payments were returned to the treasury at the end of the year, effectively cancelling the interest on the government’s loans. Between 2008 and 2014, the Federal Reserve effectively cancelled $500 billion in government debt. All of this printing dramatically increased the size of the money supply post-2008."
https://benjaminstudebaker.com/2016/05/09/donald-trump-gets-something-right-the-us-can-avoid-defaults-by-printing-money/

Capitalist China managed to ignite a massive commodity-bubble-frenzy, which is now going the way of the tulip-frenzy in Holland. (Do they have just one more massive bubble to keep the game in play?)
http://www.zerohedge.com/news/2016-05-09/iron-ore-rebar-crash-bear-market-baltic-dry-dead-cat-bounce-dies

Wes Jackson explains his last 40 years of work with perennial food plant breeding, to create a stable prairie of food, without tillage and erosion. Agriculture led us to the age of fossil fuels, and must again lead us out of it.

Weeding Cornucopia

Winter Work
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Spring Returns

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