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About pyewackitt

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  1. Mitt Romney scares me... I don't mean in a Scream 5 kinda way i mean in a 1984 kind of way, i mean in a womens rights sidelined, i mean in an economically liberal way that helps the rich get richers and the poor a McJob that might keep them busy and the stats pretty but doesnt provide a working wage kind of way. Whilst Obama has managed to alienate many in recent years since his election and the tea party has reinvigorated some parts of the US right wing Romney appears to be a somewhat devisive figure with a past in the Mormon church and priviledged upbringing that makes it highly questionable he could ever relate to the normal American family. If Romney does get elected what next? Austerity measures? Changes to individual civil rights as with the Patriot Act? Promotion of low paying and part time jobs to buff up job figures (the Texas model)? Tax cuts for the rich - to promote entrepreneurs (of course)?
  2. pyewackitt

    The U.K. Is Not O.K.

    The UK is far from OK... but let me paint the scenario i have highlighted previously on this and other forums. Namely that the UK may turn out to be the best of the worst. What i mean buy this is that with Sterling divorced from the Euro and the Dollar suffering its own challanges and China facing a meltdown although the UK is a hideous mess the probability is that other countries will have their crisis first. An example is evident in the high end London property market with outside investors perpetuating the insane pricing as a means to hold assets in non Euro denomination. Similarly we have recently seen paintings and other such items as collectables and memorabilia getting record sums - this is the hallmark of currency exiting. It won't be enough to keep the UK out of recession in the long term it may even not be enough in the short term as these are non productive asset purchases, however it may keep the pound itself far stronger than it has any right to be and may allow the idiots in power to crow about how they have saved the UK whilst others fail. Keeping out of the Euro and European banking propping up has been a great move for the UK and it may find us getting far more currency investment than we deserve on pure fundamentals. The reality of course is that we are suffering in many ways and there is no light in terms of GDP growth or policy changes (pasty tax was always a stupid idea) that have any fundamental difference. It's just that in the current race to the bottom we are lagging behind and that in itself may delay our eventual comeupance.
  3. pyewackitt

    Federal Europe

    So it seems the Euro may not last, Greece may be forced out and Spain is precariously balanced - which means it's time for some good old common sense and realisation the project has failed... or not. It seems that Angela Merkel, in a bid to save Europe (or possibly just her credibility) has decided what we really need is more integration and has proposed a formalisation of a Federal European state. http://www.guardian.co.uk/world/2012/jun/04/eu-weighs-federal-europe-plan What this would amount to is European governments losing all local control over their finances (even more so than today) and treasury or chancellor roles amounting to little more than representation on the board. The carrot is shared pot of finance with Germany underwritting the bills, the stick is being 'left out' of the new project or worse yet defaulting on debts. It would appear the wrong lesson continues to be learnt - shared currency failed not because Europe wasn't Federalised in monetary policy but because the local demands in terms of wages, employment, inflation, housing, energy costs, and vitally goverment debt and deficits are incredibily unbalanced. Giving up control to the ECB meant countries couldnt set their own rates and devalue their currency locally as needed. A Federal Europe for finance would buy a couple of years but make the overall problem even worse - some may say this is the New World Order but frankly if you take an Occam's Razor philosophy the reality is that's it's probably just plain old stupidity. Thoughts?
  4. A very good Chris Martenson read: http://www.chrismartenson.com/blog/get-ready-were-about-have-another-2008-style-crisis/75466 Chris threads together thoughts on another blowout event, Greece, QE, JP Morgan and Derivatives trading. Worth a few spare minutes although we've all known we've been sitting on the brink for a while and that governments will break the world economy trying to save us from another 08 style event. Pye
  5. pyewackitt

    PIIGS / Europe's Debt Troubles

    So Germany and France are advocating Fiscal Union, obviously with themselves as the lead member states. From what i can see this basically amounts to a hostile takeover of Eurozone financial policy. I used to laugh at all the NWO talk but here we have it, crisis precipitating calls for even greater integration, rather than the realisation that different countries moving at different economic and political speeds need different currencies and fiscal controls to balance out their trading between each other. The realisation that; things can only get worse, seems to be setting in about 2-3 years too late compared to us GEI die hards, but at least it's starting to make sense to the MSM that this nightmare has a long way to run yet. Watching all the governments piss money away on ineffectual policies is painful though but i guess they have to be seen to be doing something; even if they aren't exactly sure what that is and/or how it will help. If i could hibernate for a decade right now i would do...
  6. In the interest of promoting a commercial driver towards intersteller travel I would make Gordon Brown head of the IMF.
  7. pyewackitt

    CGNAO - Here & on HPC: The Grim Reaper

    Hasn't it always been 'might is right' just obfuscated under layers of faux democracy and legalese? The public vs. private sphere debate is also comparatively modern as from my reading i think the first major time it gets discussed at a societal level (i.e. beyond the governmental vs. prole levels of greece and rome) is the Social contract by Rousseau from the mid 1700's. In fact i think that the discourse in the Social Contract particularly the role of government in defending private property and civil liberty is especially relevant in the current UK climate. Slightly deviates from your points but hopefully a useful contribution - Pye
  8. pyewackitt

    Serious Civil Unrest in the UK

    Tonight things could really kick off... PM will have given instructions to make hiom appear in control and doing something... meanwhile we have taken hardly any of the rioters into custody so they all think they are getting away with it and no reason not to carry on. Expect things to escalate tonight, expect things to progress to more areas, expect people to be hurt today and not just property... It's very sad!
  9. So we have seen over the last few years a massive change in dictatorships and public pressures in the middle east and similar nations. Leaders like Saddam Hussein, Gaddafi and Mubarak who were all once favoured by the west during other political periods have now actively been deposed from their governments or worse. Public uprising in gulf states to Syria and Egypt has also been supported hwere possible by the West. But have we really done the right thing in seeking to depose secular dictators in a region where religious extremism is so volatile. I can appreciate the long term strategy that the US hopes to embed its companies to win contract and access to natural resources in all these countries and space for military installations - let's be honest this is all about resources and control but it strikes me that during this volitile period there is a lot of destabilisation that has been created and the risk is that an organised extrememist fundamentalism movement may see the opportunity to build an anti-western powerbase. So thoughts from fellow GEI'rs?
  10. pyewackitt

    CGNAO - Here & on HPC: The Grim Reaper

    Wow - Peston seems extremely concerned... CGNAO i have much to thank for and i'm i had a Red alert status i'd be at it with all that's going on right now. But quick question to all - what opportunities are we looking at from an investment or trading perspetive?
  11. pyewackitt

    BBC: Keynes v Hayek

    Nice to see the BBC sinking its teeth into something more than pop culture. Keynes v Hayek Two economic giants go head to head http://www.bbc.co.uk/news/business-14366054
  12. Bubb - thanks for sharing the change in your portfolio approach. I'm curious though what you think the impact of the US Government not raising the debt/deficit ceiling further is? I know it's likely an agreement will be reached (for now) but in the event it doesn't get through what do you feel the knock on is? Personally i suspect if we see dollar devaluation on a major scale stock prices might go pretty high in some sectors esp those with big international presence and/or commodities holding assets - why wouldn't this happen if there is real default risk being felt internationally? Thanks, Pye
  13. Is it policing the world... as could be somewhat reasonably debatable or it is actually political opportunism for economic realisation? There is an arugement to be had for enforcing sanctions or protecting the innocent from ethnic cleansing, no-one could doubt the historical presidence for either of these reasons why military intervention might be reasonably introduced. But, using public finance to employ preferrencial businesses (i.e. Haliburton) and then controlling the awardments of contracts over development and resources isn't a pallatable rational for the international community. Iraq represents a classis example of how public finances have led to personal profits of organisations close to the white house. Why bother having a private army to perform your land-grab when you have the contacts and loosely phrased legal sanctions to just go ahead and use a publically financed army instead. Once engaged in warfare you can turn the arguments however you wish 'bringing freedom' or 'fighting oppression' are obviously great catch phrases to substitute for 'pushing US corporate agenda'. You can easily dennounce anyone who questions you with the patriot card or that the focus is 'bringing our boys home' or some such double-speak. Yes some might say that in the real world energy security is a perfectly good reason for invading another country, but it's not a politically acceptable one. After all Al-quada were never really in force in Iraq which was far more of a secular dictatorship than many other countries in the region and to the best of my knowledge Saddam never had secret plans to attack the US... When Bush said they were fighting for 'hearts and minds' he was absolutely right, but it was for the hearts and minds of the American People to buy into this wholesale misuse of the army not for the good-will of the Iraqis. I may sound very cynical... but far too many people die for the benifit of private wealth and political expediency (i.e. being seen to do something) over fully sanctioned international intervention.
  14. The American Dream is just that, a dream. What might have begun as the aspirations of the europeans looking to move into a (mostly) uninhabited land full of natural resources and opportunity is now the foothold of true capitalism but no longer of democracy. Many still move to the US in the hope of a better life but really is this not just buying into the media image of the US and not the political and economic realities. The US government gave up its economic rights in terms of currency controls nearly a century ago with the birth of the modern central bank allowing a cartel to influence the future of economic regimes by holding the aces in the deck i.e. the valuation of the currency. Whilst faux 'opportunity' is available to many it is the state and de facto cartel members who profit either by percentage of ownership of earnings through taxes or through owning the underlying asset strengthened by US economic hegemony i.e. the dollar. Those companies which grew and benifitted from the US strategic investment and media's global presence have grown beyond the US as a country. they now exist in a supra-national limbo from which they cannot be removed by governmental actions only by consolidated actions of their peer in the 'market' environment. On the political front the situation is absurd now approaching the Orwellian. The Republicans and Democrats have found an exclusive playground of aprox. 99% of voting public. All arguements are subsumed and polarised to one side or another (guns, taxes) whilst social discussions are modified into sound-byte opposite agendas such as pro-life/pro-choice. Religious extremism that is so heavily attacked in another other nation is pandered to by both parties but especially the right wing. Any attempt by new parties to contribute to the political agenda are marginalised and synergistically adopted as sub-movements into the greater Republican-Democrat spectrum (think tea-party) rather than publically and privately fuelled to it's own discrete identity as a political party. Meanwhile the government use the 'democracy' card as part of an ongoing ideologically rightous war against the 'undemocratic' both at home and abroad. Any attempt to question the state deemed 'unpatriotic'. Both the economy and the political arenas are subject to cartels or oligargic syptoms at the most blatent of operations. This is not a land of the free but a land where freedoms are routinely reduced with each government using action against outside forces for limited by rights of the public (war on terror anyone). The concept of an 'American Dream' is important to promote, not just for investment or tourism but more fundamentally to maintain the status quo and make average Americans accept the reality that there is nothing wrong with a system where families are stuck in a poverty trap as compared to those who have many lifetimes of wealth. There is nothing wrong with the boss of your company earnings tens or hundreds of millions a year whilst you toil for minimum wage. there is nothing wrong with the system at all... what's wrong is you. It's your education, your neighbourhood, your mother not loving you enough as a baby - in a world where it is accepted that anyone can achieve anything (even when that is fundamentally untrue) the concept of the American Dream becomes a soporific for the masses, numbing the questioning mind with the promise of opportunities. Orwell would recognise the miasma over the modern USA and i suspect some of the founding fathers of the modern America would have deep reservations over whether this is what they had envisaged.