Archive for the ‘employment’ Category

A New Bretton Woods?

August 1, 2016

We were in Rome about a year and a half ago, as part of a traveling celebration of our 35th wedding anniversary.

One evening as we were lollygagging through the busy rain-slicked streets and sidewalks, we passed in front of a very special building. It was the Rome headquarters of the European Union, or “EU”.

I wanted to take a picture of the building’s entry, because that is what tourists do–take pictures of important places. Seeking a broader view, I crossed the street. While positioning myself and the phone to snap a pic, the guard across the street noticed my activity. He started waving at me frantically, indicating that what I was doing was not permitted.

Excuse me. I was taking a picture of a public building.

In America, we take pictures of .gov buildings, because we have, you know, a government of the people, by the people and for the people, which means, among other things that the people can take pictures of their headquarterses (as Golem might say.)

Is this not the way you do it in Europe? No pictures of the RomeEU headquarters?

Nevertheless, here is my smuggled pic:

EURomeHdq

If you squint at my little jpeg here, you may discern the guard’s upraised right alarm, a gesture of command intended to communicate a stop order on my touristic activity. It vaguely resembles another raised-arm signal that was in use in Europe 75 years ago, during the regime of Mussolini and that German guy who considered the Italian dictator to be his own puppet.

Or maybe I’m being too cynical about this incident. Maybe the guard was saluting me in some way, acknowledging my importance as an American tourist in the city of Rome.

Now, a year and a half later, this morning, seated comfortably in my own humble domicile, back in the USSA . . . I was pondering the idea of government–whether it is truly “of. . .by the people”, or is it something else? Is it, as many citizens insist during these times of tumultuous societal change, actually an institution through which the “1%” (or as they said back in the old days, the “rich and powerful”) project their oligarchical manipulations upon the rest of us?

I was thinking about this after reading online an article about how the worldwide financial system that has evolved.

  http://seekingalpha.com/article/3993559-back-square-one-financial-system-needs-reset?ifp=0

In this Seeking Alpha blogpost, Valentin Schmid, as “Epoch Times” examines our international monetary system. His analysis appears to be generated from  a well-informed position in the world of money, assets and power.

Mr. Schmid raises the question of whether  the current (worldwide) debt load can ever be repaid, because there isn’t enough “real money” to go around.

This got my attention, because I have been thinking for a while that there isn’t enough “real money” to go around.

Haha, as if I knew about such things. I don’t know much about money; if I did, I would have more of it.

Anyway, Mr. Schmid’s question is answered by his guest interviewee, Paul Brodsky, in this way:

   . . . “I would argue central banks lost the ability to control the credit cycle. Some relatively minor event could trigger a series of events that creates the need for a sit-down among global monetary policy makers who finally have to acknowledge publicly that their policies are no longer able to control the system, the global economy, which is based on ever increasing demand through ever increasing credit.

And what might occur is a natural drop in output. So you’ll see GDP growth begin to fall. Real GDP growth across the world maybe even be going into contraction and that would spell doom for these balance sheets. And this is not something I’m predicting or trying to time at all, but the natural outcome of that would be a sit-down like a Bretton Woods where arrangements are reconsidered.”

   https://en.wikipedia.org/wiki/Bretton_Woods_Conference

So what is coming is, perhaps, this:

To compensate for a stalling of global productivity, the movers/shakers of the world may  construct a new,  top-down rearrangement of the world financial system. The purpose of this revision will be to fix the problem of not enough money to go around. Such an extensive reconstruction as this would be has not been done since the Bretton Woods agreement that was promulgated by delegates from 44 Allied nations in 1944.

In a 21st-century world inhabited by billions of inhabitants, our  accessibility to natural resources has heretofore been determined by how many holes we could drill in the ground to extract natural resources; and how many acres of crops we could plant to produce food; how many factories we could build, and so on. . . building an economy to work toward  spreading the bounty around.

In the future, however, we will be moving to a “knowledge” economy. Wealth creation will not be about how much you can dig in a day’s time, nor how much you can plant, nor what you can cobble together in your back yard or over on Main Street.

Wealth generation in the future will be determined by what you know, so start learning now.

The first three essential  things to know are these:

Reading, Writing, Arithmetic.

Well gollee, maybe it won’t be such a brave new world after all.

However this thing plays out, if enough of us can master these three skills, .gov of the people, by the people and for the people will not perish from the earth, we hope.

Glass half-Full

The American Deal

July 13, 2016

Way back in time, hundred year ago, we was movin’ out across the broad prairie of mid-America, slappin’ them horse teams so’ they would pull them wagon out across the grasslands and the badlands, and then blastin’ our way ‘cross the Rockies and Sierras all the way to Pacific and the promised land of California.

GoGate35

And it was a helluva time gettin’ through all that but we managed to do it, with more than a few tragedies and atrocities along the way, but what can you say, history is full of ’em: travesties.

Troubles, wherever men go– travesties, trials and tribulations. That’s just the way it is in this world. If there’s a way around it, we haven’t found it yet.

  But there has been progress too, if you wanna call it that. Mankind on the upswing, everybody get’n more of whatever there is to get in this life, collectin’ more stuff, more goods, services, and sure ’nuff more money.

Movin’ along toward the greatest flea market in history, is kinda what we were doing.

Taming the land, transforming the planet into our own usages, improving, or so we thought, on God’s original versions.

After that great westward expansion transference/transgression, had been goin’ on for a good while, and a bad while now that you mention it, we Americans found ourselves high up on a bluff overlooking history itself. At Just about that time, them Europeans had a heap of trouble that they’d been brewin’ over there and they dragged us into it on account of we had become by that time quite vigorous, grasping the reins of manifest destiny and ridin’ along, as so it seemed, on the cusp of history, seein’ as how we had been raised up on our daddy’s Britannic colonizing, mercantiling knee.

Then long about 1914, them Europeans dragged us into their big fatally entreched mess over there and we went and fought the first Big War, fought them high and mighty Germans that first time and when we got done with it and got back over here the world was a different place.

I mean the world was a different place, no doubt about it.

For one thing, everybody in the civilized world was so glad to have a little peace in 1920, we just went hog wild.

Everybody got out there a-workin’, roarin’ ’20s zeitgeist, scrapin’ crops out o’ the ground, building great machines, skyscrapers. Edison had electrified us; Bell had sounded the bells of modern communication; Ford had tinkered us into a vast new world of mass production with a horseless carriage in every garage and a chicken in every pot and and we were skippin’ right along like a cricket in the embers.

NewkDev

‘Til ’29, when the big crash came along.

  https://www.youtube.com/watch?v=39RKRelTMWk

Some folks said that Mr. Hoover, great man that he was, was nevertheless clueless, and so the nation turned to Mr. Roosevelt for new answers. FDR, young cousin of Teddy Roosevelt who had been the father, so to speak, of American progressivism– cousin Franklin D., Governor of New York, took the bull by the horns and somehow managed to breed it into a donkey.

So from Teddy’s bullmoose progressivism there arose, through 1930’s-style unemployed populist cluelessness, Americanized Democratic Socialism;  with a little help from FDR’s genteel patriarchal largesse, the New Deal saved Capitalism, or so it is said among the theoreticians and the ivory tower legions who followed, and are still following, in Roosevelt’s wake.

Well, by ‘n by, between Lyndon Johnson’s grand Texas-size vision for a Great Society, Clinton’s good-ole-boy nod to residual crony capitalism, and then the 21st-century-metamorphosing, rose-colored proletarian worldview as seen through Obama’s rainbow glasses, and now the upswell of Bernie’s refurbished wealth redistribution wizardry– we’ve turned this corner into a rising tide of  flat-out Democratic Socialism.

It will be, quite likely, soon inundating the tidal basin inside the beltway as in 2017 we slog  into the mucky backwaters of full-blown Americanized Socialism, dammed up on the other side of the slough by that other guy whose oversimplified version of the nation and the world seems to want to land us in a brave new world of American National Socialism.

And who knows which way this thing will go; only time and the slowly softening sedentary, dependent American electorate can tell.

Looking back on it all, today, my 65th birthday, having lived through Nov22’63, April4’68, 9/11, yesterday’s disruptions wherever they may be, and everything in between, I find myself identifying with all the old folks whose weary outmoded facial expressions bespoke disdain,  while I traipsed errantly along life’s way. Here’s to all them ole folks who I thought were a little out of it, one brick shy of a load, peculiar, decrepit and clueless. Now, I can relate.

How I wish America could be back at real work again, like we were back in the day.

We’ve pushed through vastly extracted frontiers that yielded to massive infrastructure networks punctuated with skyscraping towers of steel and concrete. Now we’re lapsing into solid-state, navel-gazing nano-fantasies, living vicariously through celebrities in our pharma cubicles.

Maybe there’s a new frontier in there somewhere but I’m having a hard time seeing it.

But hey! let me conclude this rant with a hat-tip to the man–he happens to be a Canadian–who best eulogized the essence of that once-and-future great North American work zeitgeist, which seems to be disappearing into the dustbowl of history, because it looks like  there’s nowhere left to go.

  https://www.youtube.com/watch?v=NjoU1Qkeizs

Well, maybe there is somewhere.

https://www.youtube.com/watch?v=38bHXC8drHc

Glass half-Full