OCCUPY IMF

Every time is see Christine LeGarde moving among the European leaders I am reminded of the time the IMF bailed out Indonesia so that the American banks could demand repayment of loans they had pumped into South East Asia to create the bubble in the first place leaving innocent taxpayers and the bewildered population to repay the debt to the IMF...then the American banks took the money and pumped it into the U.S. housing market to create another bubble...then took TARP and other funds and pumped them into European Sovereign  debt...are we seeing the pattern Noam Chomsky identified when he said..."all efforts to try to centralise power in a world economic system geared towards insulating that policy is insulated from politics...ensuring that the general population of the world have no role in decision making and that the level of policy planning is raised to be so remote from people's knowledge and understanding and input that they have absolutely no idea about the various decisions that are being made that will affect their lives and certainly couldn't influence them if they did."...Politics give voice to the people who must live with the consequences of political decisions...who is it that is demanding decisions be made "now"....not politicians...at least not the politicians involved in the Eurozone debt debate...but the market...who trusts the markets...not me.

Gray Dourman
www.magichelix.com

EUROZONE:DEMOCRACY AND MEASURE

Get on with it...be decisive...fix it now!  Well all you market jackass traders, there is no rush.  It isn't your money on the table....it's ours...it belongs to all the people of the world.  Wealth was created out of the resources of the earth and that earth belongs to all people.  This lie you repeat over and over, that you, the investment and asset managers are acting on behalf of your shareholders is a heinous misrepresentation.  You act on behalf of the world you inhabit and the world your children will inhabit.  Europe must have time to resolve its issues democratically, in consultation with all its constituents.  The investment community is acting like a mob at the doors of the central banks...calling for its bread.  Act in haste...repent in leisure.

Gray Dourman

www.magichelix.com  

OCCUPY WHAT BELONGS TO ALL OF US…

Two pictures.  Two stories.  Who says the occupy protests are vagabonds with no discernable objective?  A media centre and legal advice amid the tents and canteens indicate a modicum of organisation.  They have a message.  Clearly stated in the only banner of any size right in front of the grand columned portico and entrance to an important shrine to tolerance and charity. 

Huh, how come there aren’t a lot of competing and confusing messages?  These are anarchists aren’t they?  I accept that maybe many are acting on pure instinct.  They know something is wrong but don’t know exactly what.  Arab springish sort of thing.  Sure some of it is social.  Looked like a lot of fun to me.

Whatever the discomfort and confusion…here is one lucid quote…

“Why is the Bank of England spending billions buying bad assets from banks so that bankers can decide which businesses and individual to support through loans whereas if the government distributed those billions to individuals through entitlements and socially positive programmes such as education or recreation, the people could then spend the money and thereby decide what businesses to support.  Bankers would then have a better handle on what businesses are likely to be a good bet to repay credit and those which are not.”

Many years ago, well not so many, early 90s, the government of the day privatised a savings bank called TSB.  They raised several billion.  The privatised TSB bought an investment bank called Hill Samuel and gave them more than a billion to loan to businesses.  Many bankers and businessmen got rich.  Almost none of the money was ever paid back.  I know something of bankers and trust them very little.

I believe social upheaval is good for people and good for the economy.  Chaos and reorganisation creates opportunity, repression and the status quo limit it.  

DARK MATTER AND DARK FLOW

Bhuddists will be delighted that cosmologists have definitively, scientifically proved the universe is made up mostly of nothing.  The Bhudda told us that many centuries ago.      

OCCUPY WALL STREET AGAIN !!

And what about this hair brained idea of giving the banks more money to lending through quantitative easing and credit easing rather than giving directly to people through benefits.  It is the implementation of ideology over common sense.  It gives money to business to provide goods and services to customers that do not have the disposable income to acquire those goods and services.  It seems that those who starved state run economies of resources until they starve to death cannot see the same thing happening to themselves.  Is it ignorance or arrogance?  Occupy Wall Street.

Gray Dourman
www.magichelix.com

OCCUPY WALL STREET

There is a myth that hard work creates wealth.  Not in my experience.  Nepotism, fraud, the force of arms, especially when applied to the management of cheap labour, the manipulation of the state and many corrupting influences in the affairs of man create more wealth than all the applied endeavours of the educated middle classes put together.  I fully support any movement that would promote a fairer distribution of wealth and opportunity and that would create a greater cohesion amongst all classes and cultures of people.  The Occupy Wall Street Movement is the first signs of mobilisation of a movement that may takes us all further down the road to a state of human equality.

Gray Dourman
www.magichelix.com