DAVID GRAEBER ~ THE FIVE MAJOR VARIETIES OF BULLSHIT JOBS ~ BULLSHIT JOBS ~ 2018

~ WFD-OOPTMSELOFI-YCBMWAE ~ What Flunkies Do – Only Or Primarily To Make Someone Else Look Or Feel Important – You Cannot Be Magnificent Without An Entourage

~ WGD-PW-J-A-EMAA ~ What Goons Do – People Whose – Jobs – Are – Essentially Manipulative And Aggressive

~ WDTD-WJEOBOAGOFITO-TSAPTONTE ~ What Duct Tapers Do – Whose Jobs Exist Only Because Of A Glitch Or Fault In The Organization – To Solve A Problem That Ought Not To Exist

~ WBTD-EWEOOPTAAOTBATCIIDST-IF-IIND ~ What Box Tickers Do – Employees Who Exist Only Or Primarily To Allow An Organization To Be Able To Claim It Is Doing Something That – In Fact – It Is Not Doing

~ WTD-TWRCEOAWTO ~ What Taskmasters Do – Those Whose Role Consists Entirely Of Assigning Work To Others

~ AM-DTDPWOTFCIBT-OTMSTCEOS ~ Ambiguous Multiform – Difficult To Determine Precisely Which Of The Five Categories It Belongs To – Often It May Seem To Contain Elements Of Several

~ SOBJ-INSPAAOT-B-WAUP-B-TAPISOAPE ~ Second Order Bullshit Jobs – In No Sense Pointless In And Of Themselves – But – Which Are Ultimately Pointless – Because – They Are Performed In Support Of A Pointless Enterprise

THOMAS MOORE ~ A LIFE AT WORK ~ 2008

~ A-LW-IAMAEAAACA ~ A – Life Work – Is As Much An Emotional Accomplishment As A Concrete Achievement

~ MPSIWTFTTDANIOTAETFAWTD ~ Many People So Identify With Their Failures That They Develop A Negative Image Of Themselves And Expect To Fail At Whatever They Do

~ SPCRAPWTFOFITAKTSATCL ~ Successful People Can Reach A Plateau Where The Fear Of Failure Inhibits Them And Keeps Them Stuck At Their Current Level

~ A-LW-IMASTAF-ARTYWHBMANTIHFBCAF ~ A Life Work Is More A Sensation Than A Fact – A Realization That Your Work Has Been Meaningful And Not That It Has Finally Become Complete And Flawless

~ SBCPITPFTFTFTWTW-BIADM-IHYTAFYAYC ~ Some Blame Certain People In Their Past For Their Failure To Find The Work They Want – Blaming Is A Defensive Maneuver – It Helps You To Avoid Facing Yourself And Your Choices

~ TPINAPTBS-IYM-TCTOWYAAHYCTTPIYL ~ The Past Is Not A Problem To Be Solved – It’s Your Mystery – The Complicated Tale Of Who You Are And How You Came To This Point In Your Life

~ MPLATATLAP-TAALFACTWEEAFMLB-SAD-TAMNITSTTCBRIDW-ITYMADTSYAGTLI-YSSYTYCINJAUM-CPAC-CEAMSTO-CFC ~ Many People Look At Themselves And Their Lives As Problems – They Are Always Looking For A Clue That Will Explain Everything And Finally Make Life Better – Stories Are Different – They Are More Neutral In The Sense That They Can Be Read In Different Ways – In The Telling You May Add Details That Surprise You And Give The Listener Insights – Your Stories Show You That Your Chaos Is Not Just An Unidentifiable Mass – Certain People Are Central – Certain Events More Significant Than Others – Certain Feelings Consistent

~ BTAGSABS-EWORYH-A-C-BUP-WOATBS ~ But There Are Good Stories And Bad Stories – Effective Ways Of Recounting Your History – And – Clever – But Ultimately Pointless – Ways Of Avoiding The Bad Stuff

~ PAONITHOSTTDLITSTTOH-TTITD-AT-WTCSA-B-TFTOASMBJAS-YHTTI-AAA-BIG-R-D-AP-D-WET ~ People Are Often Not In The Habit Of Seeing Through To Deeper Layers In The Stories They Tell Or Hear – They Take In The Details – And Then – Want To Consider Some Action – But – The First Telling Of A Story May Be Just A Sketch – You Have To Tell It – Again And Again – Because It Gets – Richer – Deeper – And Perhaps – Darker – With Each Telling

~ TFTASOTPITT-USSEATP ~ The Fascinating Thing About Stories Of The Past Is That They – Usually Say Something Enlightening About The Present

~ AYTYS-ETYHKHFALT-IAYPAYCCO-YGTKYB-AAT-BETMD ~ As You Tell Your Stories – Especially Those You Have Kept Hidden For A Long Time – Insights About Your Past And Your Character Come Out – You Get To Know Yourself Better – And Are Then – Better Equipped To Make Decisions

~ TPCIARR ~ The Present Chaos Is A Rich Resource

~ POATTAAEAOR-WIT-TAASTTLOTFSBWTL ~ People Often Assume That They Are Always Experiencing An Objective Reality – When In Truth – They Are Always Seeing Through The Lens Of The Familiar Stories By Which They Live

~ WDW-TTOC-BIAKOOI-ATOIU-H/I/D-IPAPFDWTNATU ~ We Deal With – The Threat Of Chaos – By Imposing A Known Order On It – And That Order Is Usually – Habitual / Ingrained / Defensive – It Protects A Person From Dealing With The New And The Unexpected

~ OHOIALB ~ Our Habits Of Interpretation Are Like Blinders

~ SAJOCRITBIIABF-BOWFBOICGTROTP ~ Sometimes A Job Or Career Runs Into Trouble Because It Is A Bad Fit – But Often We Fail Because Our Imaginations Can’t Grasp The Richness Of The Possibilities

~ OUOTWLWIL-UWMEMTKB ~ Our Understanding Of The Way Life Works Is Limited – Until We Make Enough Mistakes To Know Better

~ APOIINUBTOWOFAF ~ A Person Of Imagination Is Not Undone By The Overwhelming Weight Of Facts And Feelings

~ TIISTAMITB:IWME-EATO-WIHB-P/E/H ~ The Imagination Is Similar To A Muscle In The Body: It Works More Effectively – Especially Against The Odds – When It Has Been – Practiced / Exercised / Honed

~ TTOCBAPP-BWWCWAAI-ICARUPWTBD ~ The Time Of Chaos Can Be A Painful Period – But When Worked Closely With An Active Imagination – It Can Also Reveal Underlying Possibilities Waiting To Be Developed

~ PSSYHTUWT-TDKHTETD-OTDFETC ~ People Sometimes Spend Years Holding Their Unhappiness Within Them – They Don’t Know How To Express Their Dissatisfaction – Or They Don’t Feel Entitled To Complain

~ THYG-TMYRLTWTGOYBADF-YCBDFYPAYFR-AYSTDAAFOEOL ~ The Higher You Go – The More You Risk Losing Touch With The Ground Of Your Background And Deepest Feelings – You Can Be Disconnected From Your Past And Your Family Roots – And You Sense The Disconnection As A Feeling Of Emptiness Or Lack

~ YAMBAVOD-VFGATM-BIUANAMBD-AIHTBRBOII ~ Your Anger May Be A Venting Of Dissatisfaction – Venting Feels Good At The Moment – But It Usually Accomplishes Nothing And May Be Destructive – And It Has To Be Repeated Because Of Its Ineffectiveness

~ IYALFYLW-AC-D-H-A-WY-IWOWAYUYSITAABWICPAR ~ If You Are Looking For Your Life Work – And Carry – Deep – Hidden – Anger – With You – It Will Only Work Against You Unless You Submit It To An Alchemy By Which Its Constructive Powers Are Released

~ MPWB-ITPOTLW-FTCOTRAIEPQO-F/D/J ~ Most People Would Benefit – In The Pursuit Of Their Life Work – From The Conversion Of Their Raw Anger – Into – Effective Personal Qualities Of – Firmness / Direction / Judgement

~ ALWITEOYUSWTAMITTTYD ~ A Life Work Is The Emergence Of Your Unique Self Worked Through And Manifested In The Things That You Do

~ ALWSAOAAGIADMOT-YHT-FOI-TI-A-LITYIYF ~ A Life Work Sometimes Appears Only As A Glimmer In A Dark Mist Of Trouble – You Have To – Focus On It – Trust It – And – Let It Take You Into Your Future

~ POLFLAWSTTP-WTAMTTFOASBOL ~ People Often Look For Large And Weighty Solutions To Their Problems – When The Answer Might Take The Form Of A Small Beam Of Light

~ TTWITSTTYTBOITTADTDFFASH ~ The Trouble With Intuitions That Seem To Tell You To Back Off Is That They Are Difficult To Distinguish From Fear And Simple Hesitation

~ WYATTSYLC-PATASOBITWP-EIBAECYSTBS ~ When You Are Trying To See Your Life Calling – Pay Attention To Any Sensations Of Being In The Wrong Place – Even If By All External Criteria You Seem To Be Successful

~ AOPSIIIW-BSITPOTP ~ Accomplishing Or Producing Something Is Important In Work – But So Is The Pleasure Of The Process

~ CINAGOPOAO-CIAOTL-IWYDYIRTTWAY-RTOICWY ~ Community Is Not A Group Of People Or An Organization – Community Is An Outlook Toward Life – In Which You Define Yourself In Relation To The World Around You – Rather Than Only In Connection With Yourself

~ BMIICHRMPEP-WAODTAATS ~ Becoming More Involved In Community Helps Resolve Many Personal Emotional Problems – Which Are Often Due To Anxiety About The Self

~ CINAAOP-IIAFOL ~ Community Is Not An Arrangement Of People – It Is A Form Of Love

~ IYWAAJTCYE-YAD-YPVMIODAYWIA-SEHDRIYEAV-YWFDAY ~ If You Work At A Job That Contradicts Your Ethics – You Are Divided – Your Personal Values Moving In One Direction And Your Work In Another – Since Ethics Has Deep Roots In Your Emotions And Your Vision – You Will Feel Divided Against Yourself

~ BTTYE-AYHABCOKWTDIL ~ Be True To Your Ethics – And You Have A Better Chance Of Knowing What To Do In Life

~ YWITP ~ To Work Is To Pray

PAUL STREET ~ THEY RULE ~ THE 1% VS. DEMOCRACY

~ T-HG-‘G’-‘ARTLAB’-SRIPAOTFT-AOMSILY-WMSORDALR ~ The – Holy Grail – “Growth” – “A Rising Tide Lifts All Boats” – Supposedly Rendering Irrelevant Popular Anger Over The Fact That – An Opulent Minority Sails In Luxurious Yachts – While Millions Struggle On Rickety Dinghies And Leaking Rowboats

~ GLG-BIETFDWI ~ Governments Love Growth – Because It Excuses Them From Dealing With Inequality

~ TTU-CGOBOOV ~ The Timeworn Upper-Class Game Of Blaming One’s Own Victims

~ T-SGA-HMLTDW-TSILO-M-A-TF(ARPSG)-TIDW-TMHAMRO-GAP-VMA-TAFOWANAA ~ The – Second Gilded Age – Has Much Less To Do With – The Supposedly Inexorable Logic Of Market – And – Technological Forces (And Related Purported Skills Gaps) – Than It Does With – The More Human And Malleable Realms Of – Greed And Politics – Very Much About – Taking Away From Others While Adding Nothing At All

~ TRIINWG-COS-‘W’-IIRTQO-WGPSWF-TPATCG-O-TNLCOWAP ~ The Real Issue Is Not Whether Government – Can Or Should – “Work” – It Is Rather The Question Of – Whom Government Policy Should Work For – The Public And The Common Good – Or – The Nation’s Leading Centers Of Wealth And Power

~ TPOO-NW-C-A-OB-AC-CU-T-S/D/L-OMRP ~ The Passing On Of – Net Worth – Connections – And – Other Benefits – Across Generations – Covers Up – The – Stupidity / Decrepitude / Laziness – Of Many Rich People

~ TNN-A-EE-ER-S-P-OTUBTROTSTITFEATCAOGP-ALTNA-MJ-EP-WEI ~ There’s Nothing New – About – Economic Exploitation – Elite Rent-Seeking – Plutocracy – Or The Use By The Rich Of The State To Increase Their Fortunes Even As They Complain About Overreaching Government Power – Also Less Than Novel Are – Mass Joblessness – Endemic Poverty – Widespread Economic Insecurity

~ M-T-‘MH’-O-‘TBTF’-TGGOGFI-WETI-TPIUER-HOI ~ Meanwhile – The – “Moral Hazard” – Of – “Too Big To Fail” – The Guaranteed Government Bailout Of Giant Financial Institutions – Will Encourage Those Institutions – To Persist In Undertaking Excessive Risks – Has Only Increased

~ TTFOCMNAC ~ The Tragic Farce Of Corporate Media News And Commentary

~ MMI ~ Manufacturing Mass Ignorance

~ TITCMP-MNLBE-TAGI-TFAEC ~ The Inequality That Creates Mass Poverty – Must No Longer Be Evaded – Through A Growth Ideology – That Fuels An Environmental Collapse

DAN ARIELY ~ IRRATIONALLY YOURS ~ 2015

~ LA-IOOTMBAW-UPISS-TBFITLSHASEITGSOTSV ~ Loss Aversion – Is One Of The Most Basic And Well-Understood Principles In Social Science – The Basic Finding Is That Losing Something Has A Stronger Emotional Impact Than Gaining Something Of The Same Value

~ WWFDWOSTWFAEV-WATWOOP-OOSM-AOME-OWTPALATSIA-C/MR/MO-W-ITSOPACWAWWGTOBFITWITSES ~ When We Face Decisions We Often See The World From An Egocentric Viewpoint – We Are Trapped Within Our Own Perspective – Our Own Special Motivations – And Our Momentary Emotions – One Way To Overcome This Perspective And Look At The Situation In A – Cooler / More Rational / More Objective – Way – Is To Switch Our Perspective And Consider What Advice We Would Give To Our Best Friend If They Were In The Same Exact Situation

~ S-YS-A-SIR-SSWRW-EWPDMI-MI-EITPFWYAAFFKTYDRMI ~ Say – You’re Sorry – And – Say It Repeatedly – Saying Sorry Works Rather Well – Even When People Don’t Mean It – Most Interestingly – Even If The Person From Whom You Are Asking For Forgiveness Knows That You Don’t Really Mean It

~ HMSADPUT?-AOS(SL) ~ How Many Steps Ahead Do People Usually Think? – About One Step (Sometimes Less)

~ CIBTTPTMSPIOM?-ACIBTWWALTJFS-OMIW? ~ Could It Be That The Potential To Make Something Perfect Increases OUr Motivation? – And Could It Be That When We Are Limited To Just Fixing Something – Our Motivation Is Weakened?

~ OWPPISS-WATOTBIMOLTSW ~ Once We Put People In Similar Situations – We All Turn Out To Behave In More Or Less The Same Ways

~ IYWYFTESABBTITI-GAAE-B-NTM ~ If You Want Your Friends To Experience Something As Being Better Than It Truly Is – Go Ahead And Exaggerate – But – Not Too Much

~ LPTTTDTMF-A-BTMOTASM ~ Luckier People Tend To Try Different Things More Frequently – And – By Trying More Often They Also Succeed More

~ LTSD-IANG-STMTMF ~ Life To Some Degree – Is A Numbers Game – So Try More Things More Frequently

~ KOEATOYH-A-QCTLPOIOTFMTFEOTMBBFY ~ Keep On Examining All The Options You Have – And Quickly Cut The Less Promising Ones In Order To Free More Time For Exploring Options That Might Be Better For You

~ AGDORSTWWDILOAFOW-LAN-AMILWWWF-SA ~ A Great Deal Of Research Shows That What We Do Is Less Of A Function Of What’s – Legal And Not – And More In Line With What We Find – Socially Acceptable

~ OAMDSNIS-TBCMI ~ Once A More Desirable Social Norm Is Set – The Behavior Can Maintain Itself

~ BOATRUILAM-TMWUI-TMTWB-UASP-WIVLTBAN-OWSBTWTSUFGI ~ But Our Ability To Resist Urges Is Like A Muscle – The More We Use It – The More Tired We Become – Until At Some Point – Which Is Very Likely To Be A Night – Our Willpower Simply Becomes Too Weak To Stop Us From Giving In

CASS SUNSTEIN ~ GOING TO EXTREMES ~ 2009

~ WPFTIGOL-MT-TAELTMT-E-TITPKA-GP ~ When People Find Themselves In Groups Of Like-Minded Types – They Are Especially Likely To Move To – Extremes – This Is The Phenomenon Known As – Group Polarization

~ ITBL-GP-HBSIARWROC ~ In The Behavioural Laboratory – Group Polarization – Has Been Shown In A Remarkably Wide Range Of Contexts

~ SNCOAPMBTHTCATAPAV ~ Social Networks Can Operate As Polarization Machines Because They Help To Confirm And Thus Amplify People’s Antecedent Views

~ MOTT-PDNSTHALAASO-TPASOTGIWTFT ~ Much Of The Time – People Do Not Seem To Have Anything Like An Adequate Sense Of – The Partiality And Skew Of The Groups In Which They Find Themselves

~ OPIG-PSASSTGG ~ Once Placed In Groups – People Show A Significant Shift Toward Greater Generosity

~ POIPCE ~ People Often Ignore Powerful Contrary Evidence

~ CB-TIIMIPFPTDAKO-DM-OTTAOTTL-MALVOTOV ~ Cyberbalkanization – The Internet Is Making It Possible For People To Design A Kind Of – Daily Me – Only The Topics And Opinions That They Like – More And Louder Versions Of Their Own Views

~ FMOWTBTK-HB-LPODI-TMROWOPT ~ For Most Of What They Believe They Know – Human Beings – Lack Personal Or Direct Information – They Must Rely On What Other People Think

~ PAMTAATFTWPC ~ People Are Motivate To Accept Accounts That Fit With Their Preexisting Convictions

MICHAEL HUDSON ~ J IS FOR JUNK ECONOMICS ~ 2017

~ TEOJEIANCO-‘TE’-ITOO-‘TM’- WMM-TSQ-TREME-T-P/E/L-R-O-D-ITRE ~ The Essence Of Junk Economics Is A Narrow Conceptualization Of – “The Economy” – In Terms Only Of – “The Market” – Which Merely Means – The Status Quo – The Resulting Economic Models Exclude – The Political / Environmental / Legal – Ramifications – Of – Debt – In Today’s Rentier Economies

~ FME-HTTA-AS-ATM-SAHCOGAM-TDHAAPSODALPT ~ Free Market Economist – Have Tried To Appropriate – Adam Smith – As Their Mascot – Stripping Away His Critique Of Groundrent And Monopolies – To Depict Him As A Patron Saint Of Deregulation And Lower Property Taxes

~ A-NANP-TGCI-P-WA-TGCTOMAMW-A-S-WBTO ~ Affluenza – Not A New Phenomenon – The Greeks Called It – Pleonexia – Wealth Addiction – The Greedy Compulsion To Obtain More And More Wealth – And – Specifically – What Belongs To Others

~ A-TAITSQAHTSFL-W- ‘F’-MOTBE-ECTPFDS-APLTESAEDDD ~ Austerity – The Assumption Is That Squeezing Out A High Tax Surplus From Labor – Will “Free” More Output To Be Exported – Enabling Countries To Pay Foreign Debt Service – Austerity Programs Lead To Economic Shrinkage And Even Deeper Debt Dependency

~ B-ATOWTC-BUSCAPE-R-B/UC/S-TSTFL-PECITHOTFS ~ Bailout A Transfer Of Wealth To Creditors – Bailouts Usually Save Creditors At Public Expense – Reimbursing Bankers / Uninsured Creditors / Speculators To Save Them From Loss Preserves Economic Control In The Hands Of The Financial Sector

~ B-TB-SIOAF-FM-FFR ~ Banksterism The Bankster-Subsidized Ideology Of A Financial – Free Market – Free From Regulation

~ AAHHNFA-‘BS’-I-BAITBSOF ~ Anthropologists And Historians Have Not Found Any – “Barter Stage” – Instead – Barter Appears In The Breakdown Stage Of Financialization

~ RHFBBWTITROI ~ Rentiers Have Fought Back By Wrapping Themselves In The Rhetoric Of Individualism

~ TRQI:WGWB-DOO ~ The Real Question Is: Whether Government Will Be Democratic Or Oligarchic

~ BE-AETTGRAPPSBFE-ABEPCAD ~ Bubble Economy An Economy Trying To Get Rich And Pay Pensions Simply By Financial Engineering A Bubble Economy Polarizes Creditors And Debtors

~ C-UTDTSSBOPICA-N-RMT-FC-A-WCVREASS ~ Capitalism Used To Describe The Social System Based On Promoting Industrial Capital Accumulation Now – Referring Mainly To – Finance Capitalism – And – Wealth Creation Via Rent Extraction And Asset-Stripping

~ CC-F-BO-FE-RT-IE-NTIIIIBTSFSWROFRTO ~ Casino Capitalism Finance – Based On Financial Engineering Rather Than Industrial Engineering – No Tangible Investment Is Involved In Betting That Some Financial Securities Will Rise Or Fall Relative To Others

~ CB-ASIABTLCBTOOTB ~ Central Bank A Semipublic Institution Administered By The Largest Commercial Banks To Operate On Their Behalf

~ C-TITEIFTCTEF-AEF-BTVFNBSA ~ Choice The Idea That Everyone Is Free To Choose Their Economic Fate A Euphemism For Blaming The Victim For Not Being Sufficiently Affluent

~ CS-DF-OARPIBASAB-TADSATSSFBTABTLAPLTC ~ Clean Slate Debt Forgiveness Originally A Royal Practice In Bronze Age Sumer And Babylonia To Annul Debts So As To Save Society From Being Torn Apart By Transferring Land And Personal Liberty To Creditors

~ C-PA-L/W/MR/A/OPI-ANP-TABAISL-TI-V-G-OA-C-NMBRATUTOOFC ~ Commons Public Assets Land / Water / Mineral Rights / Airwaves / Other Public Infrastructure – As Natural Monopolies They Are Best Administered In Society’s Long-Term Interest Via Government Or A Community Not Monopolized By Rentiers As The Ultimate Takeover Objective Of Finance Capital

~ ADCIIBOTIMOCI-AIIWDBBLOTBTBEWMUO-OBWDBLA-CS ~ A Debt Crisis Is Inevitable Because Of The Inherent Mathematics Of Compound Interest – At Issue Is Whether Debts Will Be Left On The Books To Burden Economies With Mathematically Untenable Overhead – Or Be Written Down By Legislating A – Clean Slate

~ ADAINATPWTEBSO-ITNIAEDU ~ A Debt Amnesty Is Necessary At The Point Where The Economy Becomes So Over-Indebted That New Investment And Employment Dry Up

~ MCAOTBDMTS ~ Most Consumers Are Obliged To Be Debtors Merely To Survive

~ ACBLAMS-IBFAD-VARWPAP ~ As Crime Becomes Larger And More Successful It Becomes Financialized And Decriminalized – Victims And Reformers Who Protest Are Prosecuted

~ DD-P-DS-DSAF-CG-A-NBI ~ Debt Deflation Paying Debt Service Diverts Spending Away From Consumer Goods And New Business Investment

~ DP-TOODTPTOL-A/O-TOFM-TC-TCTDAIIC ~ Debt Peonage The Obligation Of Debtors To Provide Their Own Labor And/Or That Of Family Members To Creditors To Carry The Debt And Its Interest Charges

~ DP-TBUODSEG-ESMCUTDAWD ~ Debt Pollution The Build Up Of Debt Stifles Economic Growth Economic Shrinkage Must Continue Until The Debts Are Written Down

~ D-TP-DROP-ITDTCTTCC-HBOALRI ~ Demagogy The Post-Democratic Role Of Politicians Is To Deliver Their Constituencies To Their Campaign Contributors Headed By Oligarchs And Local Rentier Interests

~ D-RTAASP-EDM ~ Denial Reluctance To Acknowledge A Systemic Problem – Evidence Doesn’t Matter

~ D-TEITEITSPTFM-WRITTLIDA-MRASAFAOPB ~ Deregulation The Effect In Today’s Economies Is To Shift Planning To Financial Managers While Rentier Interests Take The Lead In Dismantling Anti-Monopoly Rules And Safeguards Against Fraud And Other Predatory Behavior

~ D-OOFI-EA-‘RM’ ~ Derivatives – Often Opaque Financial Instruments Euphemized As “Risk Management”

~ ER-TAOMPOIC(V) ~ Economic Rent The Excess Of Market Price Over Intrinsic Cost (Value)

~ EMH-AT-VV-TWIBASIFMRROEC-TPAI-TFTEFGR-TPEI-TLTESB-B/MAOR-ITV-CAAU ~ Efficient Market Hypothesis – A Tunnel-Visioned View – That What Is Bought And Sold In Financial Markets Realistically Reflects Overall Economic Conditions – The Political Aim Is – To Free The Economy From Government Regulation The Practical Effect Is – To Leave The Economy Steered By – Banks / Monopolists / And Other Rentiers In This View – Crashes Are Always Unexpected

~ RIIBO-‘TM’-NO-VI-PEOOB ~ Rising Inequality Is Blamed On “The Market” Not On Vested Interests Pushing Economies Out Of Balance

~ WTES-RL-B-L-FBPTM ~ When The Economy Shrinks Rentier Lobbyists Blame Labor For Being Paid Too Much

~ F-AITRPO-ROWIITON ~ Factoid An Idea That Reflects Popular Opinion Regardless Of Whether It Is True Or Not

~ FC-DCAPP-‘R’-THNRCOP-V-EFPTLAP ~ Fictitious Capital Debt Claims And Property Privileges “Rights” That Have No Real Cost Of Production Value Except For Payments To Lawyers And Politicians

~ FE-RSPBPFM-IONCI ~ Financial Engineering – Raising Stock Prices By Purely Financial Means – Instead Of New Capital Investment

~ FL-APTF-ER-TPOP-THNCITAOSNCOPGOS ~ Free Lunch – A Popular Term For – Economic Rent – Transfer Payments Or Prices – That Have No Counterpart In The Actual Or Socially Necessary Costs Of Producing Goods Or Services

~ FM-TTCE-AE-FO-LR/RBP/M ~ Free Market – To The Classical Economist – An Economy – Free Of – Land Rent / Usurious Banking Practices / Monopolies

~ I-AAGI-TRTROCAOWI-T-D-C/D/R-O-ECAL ~ Individualism – An Anti-Government Ideology That Rationalizes The Right Of Creditors And Other Wealthy Individuals To Deprive Consumers / Debtors / Renters Of Economic Choice And Liberty

~ JE-AP-RE-PBVI-TDTBIAPL-IOAEZ-SRS ~ Junk Economics – A Public-Relations Exercise Promoted By Vested Interests To Depict Their Behavior In A Positive Light – Instead Of As Exploitative Zero-Sum Rent Seeking

~ N-AITA-B/L/M-FAOPB ~ Neoliberalism An Ideology To Absolve Banks / Landlords / Monopolists From Accusation Of Predatory Behavior

~ N-S-IARC-ETAP-TLDWLONDIASL ~ Neo-Serfdom Interest And Rent Charges Expanding To A Point That Leaves Debtors With Little Or No Disposable Income Above Subsistence Levels

~ O-RBTF ~ Oligarchy Rule By The Few

~ P-NPOTME-APMIPUFS ~ Politics Now Part Of The Market Economy As Policy-Making Is Put Up For Sale

~ TL- ‘S’ -IATACO-LPF-SOPITPB-STOCAWE-A-DEFREAF ~ The Label Socialism” Is Applied To Any Critique Of Looting Pension Funds Selling Off Public Infrastructure To Pay Bondholders Shifting Taxes Onto Consumers And Wage Earners And Deregulating Economies For Rent Extractors And Financializers

~ DTCBP-WB ~ Debts That Cannot Be Paid Wont Be

~ TLOHITCEWNAHDTMI ~ The Lesson Of History Is That Creditor Elites Will Not Acknowledge How Destructive Their Mythology Is

JAMES RICKARDS ~ THE ROAD TO RUIN ~ 2016

~ TNFC ~ The Next Financial Crisis

~ G-SIFI-‘TBTF’ ~ Globally Systemic Important Financial Institution – “Too Big To Fail”

~ SIB ~ Systemically Important Banks

~ BI-IOBOD-DM-TCTFB ~ Bail-In – Instead Of Bailing Out Depositors – Depositors’ Money – To Recapitalize The Failed Banks

~ MRSU-YTC ~ Money Riots Seem Unreal – Yet They Come

~ SDR-AWMFBTDFI ~ Special Drawing Rights – A World Money Fire Brigade To Douse Financial Infernos

~ TGACERD-RIECCS-F-TC-T-TA-A-BA-IAEG ~ The Government And Corporate Elite Revolving Door – Results In Experts’ Continually Changing Sides – From – Tax Collector – To – Tax Avoider – And – Back Again – It’s An Elite Game

~ CTAIALDECNLA ~ Corporate Tax Avoidance Is A Luxury Developed Economies Can No Longer Afford

~ VW-EIFS-HMFFTSR-WSS ~ Virtual Warfare – Especially In Financial Space – Has Moved From Fantasy To Sophisticated Reality – With Stunning Speed

~ TPOTITTWSGTCANLW ~ The Problem Over Time Is That The Winning Strategy Gets Too Crowded And No Longer Works

~ PWITOLTWSU ~ Personal Wealth Is The Only Language That Wall Street Understands

~ L(N)L ~ Lessons (Not) Learned

~ TISRTAGNVI-RGUIANF-BAFWCB-TOOHT-DOSSC ~ There Is Scant Recognition That As Gross Notional Value Increases – Risk Goes Up In A Nonlinear Fashion – By A Factor Which Can Be – Ten Or One Hundred Times – Depending On Specific System Characteristics

~ CDE-M-O-F-PD-R-IAEFOS-SCIISCPDR-OCBOOC ~ Complex Dynamics Exhibit – Memory – Or – Feedback – Path Dependence – Risk – Is An Exponential Function Of Scale – Small Changes In Initial System Contentions Produce Divergent Results – Output Can Be Orderly Or Chaotic

~ O-B-S-D-ADBTAO-IAC-CCFEOTNTDTTN ~ Off-Balance-Sheet-Derivatives – Are Dangerous Because They Are Opaque – In A Crisis – Counterparties Cannot Find Each Other To Net Transactions Due To This Nontransparency

~ CRSBIAACAEC-TSBE-BNA ~ Capital Requirements Should Be Increased As A Cushion Against Emergent Crises – That Should Be Expected – But Never Are

~ NESCAA ~ Not Every Snowflake Causes An Avalanche

~ FMADNWFB-B-B-A-S/I/R/AIG-MBATOOFMI-SDAAN ~ Free Market Approaches Do Not Work For Banks – Because – Banks – Are – Subsidized / Insured / Regulated / And Implicitly Guaranteed – Modern Banks Are The Opposite Of Free Market Institutions – So Different Approaches Are Needed

~ RMOWSHBDBAMC-‘VAR’-TBTRIRD-ATEEHNBOTNEIAS-B-WIMANLCT?-WINEAPABWWB? ~ Risk Management On Wall Street Has Been Dominated By A Model Called – “Value At Risk” – The Belief That Risk Is Randomly Distributed – And That Each Event Has No Bearing On The Next Event In A Sequence – But – What If Markets Are Not Like Coin Tosses? – What If New Events Are Profoundly Affected By What Went Before?

~ MOTS:BB/MD/MI ~ More Of The Same: Bigger Banks / More Derivatives / More Interconnectedness

~ TNCEIO-OATSIBR ~ The Next Critical Event Is Overdue – Once Again The System Is Blinking Red

~ CMWCTASOC-WA-T-CBWDFMDTCTOTF ~ Capital Markets Were Condemned To A Succession Of Calamities – While Academics-Turned-Central Bankers Waited Decades For More Data To Convince Them Of Their Failures

~ TSBFTBR-SB-FD-LL-A-SM ~ The Step Back From The Brink Requires – Smaller Banks – Fewer Derivatives– Less Leverage – And – Sound Money

~ ECRDFPC-TSAMFS-TIASCOCBBTD ~ Elites Conduct Ritual Disagreements For Public Consumption – These Squabbles Are Mostly For Show – There Is A Shocking Conformity Of Core Beliefs Behind These Debates

~ FT-IAM-AACO-DTOTRBFCA-OMA-ITL-WITCFFT? ~ Free Trade – Is Another Myth – And A Costly One – Do Terms Of Trade Reflect Bona Fide Comparative Advantage – Or Manipulated Advantage – If The Latter – What Is The Case For Free Trade?

~ ODEBEI-FER ~ One Distortion Embraced By Elites Is – Floating Exchange Rates

~ TGTONIEANRANRTII ~ Today Globalization’s Triumph Over Nationalism Is Energizing A Nationalist Revival As Nations Reassess Their Individual Interests

~ CGCPEFTCFS ~ Certain Global Corporations Profit Enormously From The Current Flawed System

~ ASGOGC-WMC-H-TATRP-A-PMTMER-MAMOFT ~ A Small Group Of Global Corporations – With Mobile Capital – Hair-Trigger Ability To Relocate Plants – And – Political Muscle To Move Exchange Rates – Make A Mockery Of Free Trade

~ TSANSOTECIT-1990-AE-2000-CBEIASW:D ~ The Superficial And Nonsustainable Success Of The Elite Consensus In The – 1990s – And Early – 2000s – Can Be Explained In A Single Word: Debt

~ FMAFTA-FIT-NIP ~ Free Markets And Free Trade Are – Flawed In Theory – Nonexistent In Practice

~ SP-HCAHW-ITWF ~ Smart Policy – Helping Capital And Helping Workers – Is The Way Forward

~ ATWMETA-P-EB-CC-O-BCB ~ All The World’s Major Economies Today Are – Planned – Either By – Central Committees – Or – By Central Banks

~ TPEPWADFATCFTS-TPPTP-ASOS-MPTSICFTSPOCA-‘PFP’ ~ The Poor Encounter Police Who Are De Facto Armed Tax Collectors For The State – The Poor Pay The Price – A Share Of Seizures – Motivates Police To Stop Innocent Citizens For The Sole Purpose Of Confiscating Assets – “Policing For Profit”

~ EATPDBGATM ~ Emergency Access To Private Data By Government Agents Takes Minutes

~ AA-SH-TINOTHTHNHB-B-TIMTHNHL-MAS ~ Above All – Study History – There Is Nothing On The Horizon That Has Not Happened Before – But – There Is Much That Has Not Happened Lately – Memories Are Short

~ PTC-IINTEOTW-IITEOAA ~ Periodically Things Collapse – It Is Not The End Of The World – It Is The End Of An Age