Commenter Archive

Comments by Rex Caruthers
*

On “The Dual Covenant Reaction (Ground Zero for Intolerance)

Been a long time since I looked into those, but, as I think you know, I’m a Blake fan.

Blake is the all time master of polarities/oppositions,except that he creates Epic/Mythic characters each positioned against the next,and as his characters disintegate into sub-characters,like atoms into quarks,those subcharacters line up against the opposite subcharacter,in a dynamic process.
At my age,what I do is go to the Blake Dictionary by Samuel Foster Damon,he did all the hard work,and I just get to enjoy in peace and quiet. I made the reference to Blake above,because his understanding of disintegration,as well as Force & Counter Force,is a roapmap to our disintegration in the face of our extreme political,social,legal,philosophical,international,and economic challanges. Blakes charactor,Urizen,is of particular relevance.

"

miguel cervantes wrote:
Because we don’t do time travel, RC

Why would it matter if a Mosque predated 9/11,hallowed ground is always hallowed ground,and Islam doesn't qualify.? Besides,that Mosque could be a hotbed of terrorist activity.

"

"Hallowed Ground"/Muslims Stay Away, Should we Eminent Domain the Mosque that sits even closer and tear it down? Why Not?

"

"Obama’s actions last summer and fall, were much like JFK in the twin crisis of the Freedom Riders"
?????

Ending Discrimination on Buses
In 1960, a Supreme Court Decision ruled that segregation was illegal in bus stations that were open to interstate travel. Civil rights activists started taking Freedom Rides. This meant that black and white people, Freedom Riders, would travel around the South in buses to test if the new law worked. In some places, like Alabama, people would attack the Freedom Riders because they didn’t want to change. President Kennedy supported the Freedom Riders. By the fall of 1961, the Interstate Commerce Commission further helped civil rights by saying all seating in interstate buses would be "without reference to race, color, or creed" and that all terminals would be integrated. This means that everyone can sit wherever they want on a bus even if they look different or believe in something other than what most people do

"

Fuster/"has bad breath and breast feeds goats and gardeners because of incorrect readings of the Koran.
therefore a witch.

I got this part,but thanks for the other.

"

CK/Fuster,
please TRANSLATE #9 for me,THANKS

"

economic hollowing-out

Here's the point,Economics has to make sense,if it doesn't,it's not economics,it's an agenda. Alsi,I do know where some,not all,the bodies are buried.

"

CK/"the already-pastness of the uniquely American mission in the world.

But,the fascination is,of course,the Rough Beast we shall Morph into,and,the discussion is, were we Unique to anyone besides ourselves? We had a big roll out 1800-2000. But did the Pride/Energy that generated the Rollout become the Hybris/Calcification of the UniPower.
See Blakes' longer Poems,Four Zoas,Milton,Jeruselam for profound insight on these Epic Events.

"

Fuster/

For me,one of the Achilles Heels at Contentions was their Opinion that our current form of "Capitalism" is actually Capitalistic/Free Marketish,rather than the Financial,Governmental,Military Complex that that has forged this new format. In other words,we now have full blown Debtialism* which contrasted with functional Capitalism,is like Contrasting Superman to Bizarro.
I agree with you that any "Open" discussion of Israel rather than the Party Line,was very bad form.

*Let me give you an example. We are all aware that corporations have Cash "Reserves" equal to $1.3 Trillion,yet aren't expanding with hiring/capital purchases etc. That's because most of the cash is debt that not only has to be paid back.short term-long term,but zeros out the cash assets on the Balance sheet. So,without demand,it is entirely understable why they aren't using their Cash,they have no cash,just debt,BTW,which,much of it, could be called if the Creditors get jitterly.

"

"or maybe it’s the completion of a process that’s been under way for a long time."

I was attracted to the "process" after 9/11 when I was blogging with JPOD at the NYPost,and I observed some very rigid processing going on. I was familiar with NPOD's "Conversion",and I found his defense of the Vietnam War very informative,but hollow at the core. Paraphrasing his defense,The Vietnam War was a logical result of our Foreign Policy from Truman thru JFK,therfore,any argument against it was an argument against US Foreign Policy from 1945-1963 etc etc,a bit circular,but his Vietnam treatise was a work of Genius compared to his WW4 book. I followed JPOD to Contentions where the Depth of the "Process" was like a powerful magnet,and I had a great time there arguing with a range of Brilliant to demented contentionsistas,but the Contentions pundits themselves were awfully Insular,and then they recruited JRUB,as their HITMAN. They were smart in ending Comments on Contentions,we were eating them alive.

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CK/Among conservative Christians, “dual covenant” doctrine, which recognizes the status of the Jews’ and urges Christians to support Israel, helped to solidify a political and religious-cultural coalition, under a worldview increasingly described in terms of “Judeo-Christianity.”

I'm aware of an older Conservative Christian "Doctrine" which predated the Paleo niche,I'm referring to the WFB Jr/NR constellation 1955-89. The major focus was Christian Values vs Communism,Nihilism,Atheism as expressed in the drama of the Cold War. The major figures of this era were besides Buckley,Malcom Muggeridge,Solzhenitsyn,Whittaker Chambers,James Burnham etc etc with its deeper tradition based on Augustine,Acquinas,moving forward through Newman,Burke,Smith,Locke,etc etc. WFB Firing Line was in its day,the most popular expression of this tradition,and it wasn't at all propagandistic,Firing Line allowed the most brilliant opponents of the above tradition a full and respectful opportunity to present their opinions in excruciating detail. Firing Line was one of the most important parts of my education,it taught me to think,to debate,and to discern the tactics of conceptualization. It is exactly the virtues of the WFB,NR,Firing Line entity that is missing from NRO,Weekly Standard,Commentary,and other parts of the NEO-RIGHT today. I miss WFB,no one today,Left,Right,Center can match his ability to illuminate.
http://www.weeklystandard.com/Content/Public/Articles/000/000/014/820eibyp.asp

On “A voice in the rightwing wilderness

Jennifer's Venom:
"Obama has shown his true sentiments now, after weeks of concealing them, on an issue of deep significance not only to the families and loved ones of 3,000 slaughtered Americans but also to the vast majority of his fellow citizens. He has once again revealed himself to be divorced from the values and concerns of his countrymen. He is entirely – and to many Americans, horridly — a creature of the left, with little ability to make moral distinctions. His sympathies for the Muslim World take precedence over those, such as they are, for his fellow citizens. This is nothing short of an abomination."
http://www.commentarymagazine.com/blogs/index.php/rubin/340536

On “The obsolescence of the obsolescence

saying there’s been 3500% percent inflation since that time

NO NO NO In terms of the COST of Gold,the PRICE increased from 115$ OZ to 1200$ OZ/PRICE INCREASE. INFLATION is more like 10% year average, I earned 35K in 1973,to equal that buying power today,I would need to earn 140K in 2010,I didn't make that much. Remember Inflation isn't about increased prices which could be due to a # of factors,but it is about the devaluation of the currency due to Government/Central Bank policies. Deflation is about the increase in buying power of Currency due to Government/Central Bank Policies.

"

You miss that the decision on the gold standard in ’33 and ’71 was driven by deficit spending issues, not the other way around.

JHC, TRUISM,The reason we abanded the Gold Standard in 1971 was a default on our Gold Obligations BECAUSE OF DEBT ie THE UNFUNDED COSTS OF VIETNAM AND THE WAR ON POVERTY. Gold was set at 35$ OZ,but the "MARKET" valued the Gold at $115 OZ. IOUs all over the financial world were flying in because IOU holders could turn their received Gold over to the Market and profit was 80$ OZ. So we defaulted,and set up the Fiat,Floating,Derivative weighted system that we so love,and will do anything to continue. To understand the implications,you only have to know two facts:
(1)What happened to our money supply from 1971-2010 in terms of growth
(2)What happened to our currency since 1971 in terms of its purchasing power.
Hint:In 1965 Gold Traded at 35$ OZ
In 2010 Gold Trades at 1200$ Oz
That's it,but that's too easy for most intellectuals to grasp.

PS:Law of Unintended Consequences:Directly because of our default on Gold,in 1973 Oil quadrupled 4x per barrel,our doing,and we've never figured that out,never having looked back,never being able to incorporate the simplest facts from the past into our current opinions.

"

miguel cervantes wrote:
(1)Well take that point up with Matt Taibbi,

#1 I hope Matt reads Human Action one of these days,or at least the Earthly Philosophers. Your choice for Economic Guru tells us a lot

(2)the historical reference is a cycle has in never collapsed in this way before.

#2 Burst Credit Bubbles like this have occured throughout recorded Economic History

(3)It’s like we’re living in
a Michael Thomas novel, who gave up fiction sometime in the early 00s

I read his novels back when,they're a lot more fun than reading about Macro-Economics
Had you taken my advice,and started reading Real Clear Markets daily,you would have found this insight today which is a Comment on the Referenced article below.

"Struggling economies progressively left the Gold Standard to prevent a costly loss of international competitiveness,"

"That's not how the gold standard worked. If you had a trade deficit with another country gold would leave your country for the trade surplus country. With less gold, the money supply would shrink, causing prices to fall and your good would become cheaper. Eventually cheaper products would beat out more expensive ones in international trade and your trade deficit would turn into a surplus."
"But that's not how the gold standard worked in practice. Gold only limits the volume of paper dollars that the central bank can print. It doesn't limit credit expansion at all; never did and never will. Massive credit expansion is just as easy with a gold standard as it is with fiat money. The booms and busts of the past were caused by such credit expansion. So gold never limited the ability of central banks to expand the money supply via credit expansion. Countries left the gold standard because they didn't want gold leaving their country. It made them feel poorer.
"..but while it wasn't possible for every country to benefit from the devaluation associated with departure from gold, the end of the Gold Standard meant a freeing of monetary policy, which allowed economies to reflate and recover."
"Strange, but for centuries before the Great D nations had no problems recovering from CREDIT INDUCED DEPRESSIONS while on a gold standard. Central bankers must have suddenly become very stupid during the Great D because they couldn't do the same"
http://www.economist.com/blogs/freeexchange/2010/08/currencies

"

http://seekingalpha.com/article/220073-don-t-call-it-a-double-dip

"

(1)The Crisis was certainly looming at that time, but it took the collapse of first Bear Stearns and then Lehman Brothers, six months apart, under a wave of phony(They were Real) contracts.

#1 shows a Confusion of cause and effect,the disruption of the Jap Carry Trade put the users of the CT in neck high dodo.

(2)and one has to wonder how did this
end up happening with 60 days of an election, all economic crisis I can recall, notably 1837, 1873, 1893, happened after an election

#2 assumes that The Laws of Economics are Controlled by the vagaries of politics/vice-versa on that one

(3)Now it can be argued that the solution posited from the last crisis, the tech and derivative bubble, Sarbanes/Oxley really facilitated this last crisis

#3/SO is a minor footnote,SO did almost nothing to force anyone to Disclose their Shadow Accounting,the Derivative Bubble has never stopped growing,the Tech Bubble was an Asset Bubble,not a Debt Bubble that Burst Summer 2007

(4)What happened in 1993, with the CRA revisions most directly had an impact with 2008, so did the first lawsuit Obama won against Citibank,for ‘redlining.
#4,very minor footnotes

(5)How 1971, which was due to the overspending on both
guns and butter, relate to today is a little more murky.

#5,Please look at the growth of the money Supply(M3)/Inflation since 1971.

(6)Now business cycles run 8-10 years, so it begs to reason that sometime around 2009-10, would have run out of steam, but that did
not turn out that way

#6 Prey tell, WHY? Also do Business cycles run in predictable 8-10 year cycles, how about 7 years fat/seven years lean?

"

"tech and derivative bubble, Sarbanes/Oxley really facilitated this last crisis/miguel cervantes wrote:
What happened in 1993, with the CRA revisions most directly had an impact with 2008, so did the first lawsuit Obama won against Citibank,
for ‘redlining. How 1971, which was due to the overspending on both
guns and butter, relate to today is a little more murky.
Now business cycles run 8-10 years, so it begs to reason that sometime around 2009-10, would have run out of steam, but that did
not turn out that way"

It's like trying to raise the dead. You are confusing Apples and Orange/Causes and Effects in a hilarious stew of disfunctional concepts. I'll just quote something on 1971 to help out.

"Stage 1. Nixon irresponsible, dumps gold, U.S starts spending binge,
Richard Nixon's gold policies get Stockman's first assault, for defaulting "on American obligations under the 1944 Bretton Woods agreement to balance our accounts with the world." So for the past 40 years, America's been living "beyond our means as a nation" on "borrowed prosperity on an epic scale ... an outcome that Milton Friedman said could never happen when, in 1971, he persuaded President Nixon to unleash on the world paper dollars no longer redeemable in gold or other fixed monetary reserves."
Remember Friedman: "Just let the free market set currency exchange rates, he said, and trade deficits will self-correct." Friedman was wrong by trillions. And unfortunately "once relieved of the discipline of defending a fixed value for their currencies, politicians the world over were free to cheapen their money and disregard their neighbors."
And without discipline America was also encouraging "global monetary chaos as foreign central banks run their own printing presses at ever faster speeds to sop up the tidal wave of dollars coming from the Federal Reserve." Yes, the road to the coming apocalypse began with a Republican president listening to a misguided Nobel economist's advice"

Try concentrating on these few lines Think about LBJ and the Unfunded Vietnam War&War on Poverty,think about Nixon,Milton Friedman,Gold,Fiat money,Derivatives invented to Balance the distortions created by the "FLOATING" Currencies,The Bankruptcy Of Orange County California,Enron,Japanese Carry Trade,development of a 600 Trillion $ market in a variety of Derivatives etc etc etc,none of this was possible without the conversion to Fiat Currency. Now you need to hit the books,try Human Action by Von Mises,read the sections on Inflation and Currency Manipulation. Mises was the founder of the Austrian School/Hayek,Schumpeter. Please slow down,stop opining, stop spewing out your fragmented fiscal ideas, and start studying,and opine after you have read a lot. And you could read every article in REAL CLEAR MARKETS everyday,I have been doing that for years. If you're thinking what got up his ass,I'm the Kraken of ZC. I would enjoy discussing Economics with you,but your misinformation makes it a law of diminishing returns issue. Everytime,I point out something,rather than deal with that,you come back at me with a new bizarre grouping of "Explanations" I feel like Mickey Mouse in the Sorceer's Apprentice.

"

Now it can be argued that the solution posited from the last crisis, the tech and derivative bubble, Sarbanes/Oxley really facilitated this last crisis

My advise,stick to political,historical comments,you're too smart to understand Macro Economics. In other words,you cannot believe that policy from 1971 had an effect in 2007,but what happened in 1837,73,93 is timely and relevant.LOL Think about simple explanation,you'll do better.

"

But to demonstrate how stupid,out of touch,I was,I believed the Crisis (THat began in Summer 2007)would scare the Hybris out of the Treasury,the Fed,and Wall Street,but as smarter people like CK,JEM,and JED tried to explain to me,back then,Nothing is going to change,the Status Quo will intensify. The reason, I'm looking smarter today is that I stuck to my guns in asserting that unstable,Fiat,Floating Currency is the CORE problem,because if it wasn't,we be out of the WOODS.

"

PCR/Economic Strategy

He's irrelevant except as a participant in the Reagan economic miracle. Who are relevant are a handful of Contrarian Economists who will never be involved in Government Policy. Peter Morici&Mike Hudson are examples.
And there is only one Economic strategy that will work,and that is to "Stabilize" the Currency so that its purchasing power is the same a century from now as it was in 1970. How many people would buy real estate if the measurement of a Square foot is based on a Floating measurement system "corrected" daily,so I lease a 100000
square foot facility,and take possession of 50000 sq feet,and am told that there was a devaluation of the Japaneese sq foot,and that's the adjustment. And don't bother arguing that currency is different,it's not,and we're reeling from our errors.

"

"The parallel is really closer to Britain if you want to hazard it"

Look MC,let me help you here. You're all over the place and it's a waste of your time/energy. You don't have to revisit England,Russia,Weimar,you don't have to regurg Spenglar,Toynbee,and Gibbon. I have ofttimes mentioned that Economics is too stupid for the kind of intellectuals who are concerned with the Issues at Contentions/Zombie Contentions etc. It is a dismal science,and I have a primitive,dismal brain. So listen up:
(1)America can't survive as "AMERICA" without Middle class jobs EARNING MIDDLE CLASS PAY
(2)The "REAL" unemployment rate is now 22% and rising,but more important than the unemployment rate is the "How much are Americans earning rate" which is plummeting faSTER than the unemployment rate is rising. I can explain why this is happening,but I don't have to now,because I can prove it,just check out the drop in Federal,State,and all government revenues(The true #s,not the Official #s=s 10% annual drop average&greater in some locations)
(3)Now all this could be used to Derail the Administration,but It won't,because as CK pointed out,if the Repubs inherit power,they need the same economic fantasies to survive as do the Obamaites. "EVERYBODY KNOWS"/Leonard Cohen

"

I'll help that with that:
(1)Currency Quality printing paper
(2)Currency generating Software

"

The Soviets were overextended

And in what category,are we not overextended?

"

miguel cervantes wrote:
That’s so blinkered I don’t know where to start

If it's me that's "BLINKERED",that's fine,if its PCR,I need to remind you that he was "there"* you weren't,you are just one of the"Little" people,just like me.

*Resumes matter

*Comment archive for non-registered commenters assembled by email address as provided.

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