and... pigged again. But at least we have LIBOR stories to lull us to sleep... or provide nightmare fodder.

ahh the issue finally raised - but immediately dismissed as old news ! whose talking points are these I wonder ?

a close cousin of damned with faint praise !

What was that I was sent earlier today - gentleperson's guide to

COINTELPRO Techniques for dilution, misdirection and control of a internet forum..

The issue MUST be hotting up ! keep at it guys..

I'm So tired of this Bullshit, phone calls, articles, Comments that ,,,,,,,,,what ever.

SO FUCKEN TIRED.

Priorities People PRIORITIES!!!!!!!!!!!!!!!!!

Check in Tomorrow

Actually, CR, I remember when you and others (I recall Duncan Black, in particular) were posting on this quite frequently. It's when I first learned the term LIBOR, to be honest.

re:

RockyR - I'm back in Cali - nope no Chuys in CO - I missed it so much -when we did a big swing trip 3 years back - CO, NM, Tombstone.. Tucson, Prescott etc then back.. made a special effort to stop off at a Chuy's outside Phoenix - mann their pickled carrots and onions and salsa ( extra salt ) were to die for.

Today ? oddly not so much . gotta figure out why.

MBW wrote:

LIBOR

Also sots of TED spread and Libor-OIS spread:

YouTube - Spirit - Like A Rolling Stone - Live 1978

One of my favorites. First major band with two lead guitars?

YouTube - Wishbone Ash 1976 Live Argus The King Will Come

CalculatedRisk wrote:

Luckily this meant lower rates for borrowers ...

and unluckily it meant losses for interest swap holders like the proverbial Turkish kebab joint small businessman.

Swings and roundabouts ? Sure if yer in the real-estate business like say this blog.

But you'd Scream bloody murder if yer a kebab shop operator no ?

so what's the right place to be ? err how about not doing criminal things - and so onto prosecution - the usual reasons why crimes are prosecuted - to deter, to punish to redeem - to do that to the perpetrators.

skk wrote:

the issue is that its CRIMINAL - I keep saying you fix cricket matches you go to jail. you fix rugger matches, you get banned for life ( the doc loses her licence ! ), you fix Grand Prix races, your team in BANNED for 2 years ..

you fix LIBOR and you dismiss it as old news.

Where's the outrage?

There's outrage on the former because people still believe in those things - they give people joy and hope for the underdog... with banks, we know they're only going to screw us... no outrage when there's no real letdown in expectations.

LIBOR should be eliminated. No significant (to the ROW) index should be based on anything other than actual transactions.

not if it's not a material fact upon which the contract is based -- if you wouldn't have signed the contract but for the lower interest rate, then chances are that it may be voidable - otherwise, not. Price is not actually a material term in most contracts -- as long as both parties agree to be bound on most terms, courts will provide an amount that is fair (generally, market price -- ironically, probaby LIBOR-based.)

(Edited: sorry, that was to Doc's comment on fraudulent contracts.)

Bored with Liebor. I agree with CR, it was blown up years ago.

Meh.

We need real scandals, like Bain boys' SEC filings.

Nobody is connecting the dots on that one- the reason why Mittens was listed as CEO was because then he could claim the gains that year were carried interest, rather than earnings from his investments. How many millions was that little fraud worth, Mr. Romney? Either you were active as stated through your return and claimed carried interest, or you lied to the IRS and now claim the "truth" is what you say now.

We would like our tax money, Mr. Romney- a person who I think is a tax cheat, not avoider, cheat.

Now we wait to see how long it takes the lamestream media to come up with the obvious.

Someday this war's gonna end...

Doc Holiday wrote:

YouTube - Spirit - Like A Rolling Stone - Live 1978

On of my ex wife's old boyfriends, Randy California.

Counterpointer wrote:

It even got its own Conjure communique in 2008...!

Can't cut and paste from the archive, but here's mp's link:

this link.

C

the clear issue is that its a crime and has to be prosecuted - calling it old news is absolutely a diversion - a diversionary tactic even.

I remember when gray davis was recalled - not a particularly nice man but still he was bitching about how the electricity market was being manipulated - Enron was easily manipulating electricity prices - ne ful wd noe - well as an ex-employee of NP in the UK and well versed with how the electricity "market" was set up - of course I could even say how they were fiddling it.

I didn't go around saying OLD NEWS OLD NEWS OLD NEWS .. I said - PROSECUTE.

Gray Davis STILL got chucked out tho'

And Enron top dogs did get prosecuted and jailed ( and dead in odd circumstances ).

Lets see it here - that should at least be a part of the reappearance of this story. Prosecute !

The libor scandal is fixed and banks are paying fines.

Think I'll go watch reruns of zombies and prepare for tomorrow's study schedule: property. My favorite subject, and purportedly, the most hated on the bar.

REBear wrote:

banks are paying fines.

1 bank 1 fine.

nobody in jail, no other banks.

My recollection of the chronology and impact of the LIBOR story is somewhat different than CR's, but it has been almost five years ago now and no longer matters anyway.

The important fact is: many of us knew that LIBOR was bogus. We knew a smoking gun would eventually appear, but it took Bob Diamond to conveniently provide it.

Remember, most media outlets won't cover a story like this one until it is in their faces. They won't do investigative journalism because they can't afford it and most certainly can't afford the legal messes that are often created when the stories are eventually published.

Blogs will tiptoe around it for the same reason.

edit:
Finally, I'll say this: it was not mainstream to be talking about this in 2008. Not at all.

MBW wrote:

Where's the outrage?

There's outrage on the former because people still believe in those things - they give people joy and hope for the underdog... with banks, we know they're only going to screw us... no outrage when there's no real letdown in expectations.

and... if this is the sort of explanation that's supposed to whip up outrage from J6P, it just is not going to happen.

Kathy wrote:

and... if this is the sort of explanation that's supposed to whip up outrage from J6P, it just is not going to happen.

now I have pretty bad ADD at the moment, but I made it about half-way down that graphic. Yeah, we're not going to win this one being nerds.

mp - absolutely.

Leery of the LIBOR libel label.

C

Aw crap, scanning online I just found a pic of me as an infant put up by my mom's cousin. How embarrassing!

People are just a little crazy.

Someday this war's gonna end...

mp wrote:

It's not rocket science, just hard work.

Just logged in to note that mp's comments here coming right after CR's posts about Alex Honnold make for an interesting juxtaposition.

It's nothing more than human behavior that suggests (to me at least) discussion of human herds, or naked bonobos, ignores so much of what makes us tick. The potential is within us to manage all sorts of outrageous feats, for good, for ill, or just because.

1 currency now -yogi wrote:

Homeowners borrow millions. Banks borrow trillions. Who wants artificially low rates, again?

beautiful..

nahhh mate, its just a flesh wound !

mp wrote:

Remember, most media outlets won't cover a story like this one until it is in their faces. They won't do investigative journalism because they can't afford it and most certainly can't afford the legal messes that are often created when the stories are eventually published.
Blogs will tiptoe around it for the same reason.

Not to mention the media outlets and blogs that are co-opted by FIRE, or not interested or too scared to upset the status quo.

Skk,

Couple of my co-workers went to a genomics symposium where a few companies were demoing in-memory database engines for multi-terabyte data. Apparently very, very impressive sorting capabilities on ginormous row by row size.

Extremely useful in genomic investigation especially protein area.

CalculatedRisk wrote:

Luckily this meant lower rates for borrowers ...

Jesus Christ. If everyone gets a $10,000 stimulus check, except 10% of the people (who work in FIRE) get a $20,000 stimulus check, is everyone better off?

Luckily, fat bonuses were paid...

poic wrote:

Couple of my co-workers went to a genomics symposium where a few companies were demoing in-memory database engines for multi-terabyte data. Apparently very, very impressive sorting capabilities on ginormous row by row size.

Extremely useful in genomic investigation especially protein area.

Don't talk to me about genomics ! when I needed a job reasonably priced health care insurance when the wife's 1 year payoff was over I had grandiose plans - yeah.. take a job at 40K but with good insurance - do some good - NOT ONE F'IN call from the genomics area ( I was active in the forums, posting what I can do - new algo's even ! - and on the jobs boards too ) - nothing nada.

FIRE on the other hand..

btw, SAS blew it on their demo of in-memory stuff yesterday. weirdos. this fuss about in-memory is a diversion anyway - the central new idea is ( IMO ) - sequential disk access can be faster than RAM access.

love to hear more of course - all references to papers articles are most welcome to me.

The Syrian opposition: who's doing the talking? | Charlie Skelton | Comment is free | guardian.co.uk

1 currency now -yogi wrote:

Jesus Christ. If everyone gets a $10,000 stimulus check, except 10% of the people (who work in FIRE) get a $20,000 stimulus check, is everyone better off?

Yes. Those FIRE people will be incrementally better off, it'll be a decent part of the annual earnings for everyone else. Now if we say $200,000,...

Priceless history:

Comment by Tanta from thread 'LIBOR or SLIMBOR?'

What's to keep WSJ from printing the wrong rate? (Out of malice/negligence/what have you)
Lawsuits. You don't think Fannie Mae would sue the shit out of the WSJ if it maliciously misreported LIBOR and fouled up a couple trillion in mortgage loans?

..... much more ....

I miss Tanta's swearing; perhaps CR could let some foul things out someday?

The money is bidding on a finite set of goods and services. My hypothetical used the word "everyone". Assume the money for the checks is printed up new. The correct answer is no. The 10% are better off and the 90% are worse off.

ok mask change.. where's iambroke ?

Have a good night.

mp wrote:

I think one of the things to be learned from this is: do your due diligence.

The information is out there. You can reduce the "information asymmetry," but you have to work at it.

It's not rocket science, just hard work.

Particularly true when it comes to Real Estate. Few seem to be willing to do the work based on the prices I see people paying for "Income Properties" here. Sigh. And bedtime.

SKK, someday i will describe the execution of LA-LA to you. It was justly deserved,and violent. Later.

CalculatedRisk wrote:

What is shocking is how long it took to fine the banks - and change the system.

To me, what is shocking is that no one really cares. Slap on the wrist, token fine, shrug of the shoulders. Hey, the whole financial system is one big carnival barker act. Of course, everyone is lying to you all the time. Of course, you are being scammed, ripped off, and defrauded. You are lucky to have enough money left to buy food, you stupid muppet.

It's all a wink and a nod. The vulnerable and gullible are told there are responsible regulators in charge, while bread is stolen from their mouths. Come on, grow up, this is the way the world works.

Sure, the system is changed. Right.

Mr Slippery wrote:

To me, what is shocking is that no one really cares. Slap on the wrist, token fine, shrug of the shoulders.

Well, hold on. (Before I become a Barclays shill.)

LIBOR took out the Chairmain and CEO of the company. Was there any other bank that wasn't nationalized that had such turnover at the top? The fine was something like $460 MM... not quite a slap on the wrist if you ask me.

Remember, Barclays was first to come out, and apparently one of the better banks about this.

More to come.

Until they clawback bonuses and issue jail time nothing will change.

poic wrote:

In reality it's very similar to any other software work. But it's very hard to convince those doing the hiring of this truth.

fascinating. I have a fault which is - MOVE ON MOVE ON MOVE ON.. keep on moving - so my interest in this diminishes day by day - my experience jives with yours - man I get a little lily-livered about this tho' - this is ME.. I was fixing ( politely ethically no ya boo sucks shit ) this algo damnit - just for example-

Hi XXXX

From XXXXXXX, I understand that you are using crossbow 1.1.1. I hope that you can help me on how to run crossbow on e.coli (small) example indicated on the crossbow web page.

and my response ..

Hi XXXX

Let me first apologize for the delay.. I've been under the weather. ....your problem is what I faced when running it Hadoop cluster as well so I can help you...

the under the weather comment was that I was in for a stent op - the Brits always play things down no ?

this full convo was then posted by the individual in the board - and further kinks to moving to Elastic Map Reduce ( who for rejecting me for a job must of course be destroyed - never mind that I don't like Seattle ) were discussed - you'd think - especially since I'm coming cheap and I'm getting a name fer myself - the usual sunshine everywhere viewpoint I have meant I've done the work so next steps - heyyy easy peezy - no f'in way !

Anyway alls well that ends well as Enid Blyton said - and as I switch masks - the spoof may relate to people better tho'

Five Go Mad in Dorset - Wikipedia, the free encyclopedia

Its shocking how racists like Enid Blyton ( welll ok perhaps that's too strong - a woman of her times ) - are loved by middle class kids in India..

they don't seem to see - she doesn't mean YOU yanno..

Agronox wrote:

LIBOR took out the Chairmain and CEO of the company.

wait. the chairman is BACK.. and the CEO is not even charged with a crime and STILL hanging on to his bonus..

if that's taking out - mann I'd love to have had my wife taken out like that.

Off topic,

Profits over safety,

"For years, it appeared there was no economical way to redesign fuel tanks on existing planes. But an FAA employee persisted in trying to find a reasonable technological fix to the problem ultimately leading to the solution lauded by officials as example of the agency at its finest at the 2008 news conference.

Goglia said the FAA developed the nitrogen protective system as an affordable, light safety measure — "something Boeing said couldn't be done — and after all that good work we now have foot-dragging by the industry not to do it."

The largest fine FAA has ever proposed was $24.2 million against American Airlines for failing to make required repairs to the wiring of some planes. Although that fine was proposed two years ago, the FAA is still in negotiations with the airline — which filed for bankruptcy last year — on a final settlement. The next largest proposed fine was $10.2 million against Southwest in 2008 for safety violations. The fine was settled for $7.5 million." FAA proposes fining Boeing $13.5 million - seattlepi.com

edit to add: see last sentences for example of how high fines have been reduced. It's not just the TBTF banks.

Mr Slippery wrote:

Let's do some quick math. Barclay's had revenue of about $9 billion USD last year. That amounts to about a 5% fine. That's a slap on the wrist if you ask me. The "system" has produced a more or less permanent 8% NAIRU. Tell the millions of long term unemployed that financial crimes are no big deal.

Yes, exactly, and I've been watching this develop for decades now. It's all part of regulatory capture.

Consider, for example, what happened to United Technologies when they were discovered having transferred vital and secret military engine technology to the Chinese in exchange for the promise of a $2 billion commercial engine order.

A fine. A fucking fine. A fine that, in the big scheme of things, is just part of the cost of doing business.

Now, if that fine included a visit from a government agent wearing a black leather trench coat and carrying a little Walther 6.65 PPK with the little bird stamped on the receiver, along with a pair of rusty pliers, it might be a different matter.

mp wrote:

Now, if that fine included a visit from a government agent wearing a black leather trench coat and carrying a little Walther 6.65 PPK with the little bird stamped on the receiver, along with a pair of rusty pliers, it might be a different matter.

The MIC doesn't send spooks after one of their own.

the hell with it - as churchill used to say ( so they say - both protagonist and antagonist - methinks the booze alone must have put him to sleep ) -

YouTube - Khaike Paan Banaraswala Don HD HQ W/ Scene

hell of a vid - captures so much.

Awarding "treble damages" (for fraud, and such) is not supposed to unjustly enrich the victim, it's supposed to be a deterrent.

JimPortlandOR wrote:

LIBOR should be eliminated. No significant (to the ROW) index should be based on anything other than actual transactions.

Incidentally, the first ARM loans we got were indexed to the Fed 11th District rates, from '95 on it was all LIBOR.

sdtfs wrote:

Incidentally, the first ARM loans we got were indexed to the Fed 11th District rates, from '95 on it was all LIBOR.

Do you remember the rationale for that? Because LIBOR was more transparent.

• Santana with Neal Schon.

The real scam opportunities came about with the unregulated multi-hundred-trillion-dollar interest rate swaps market.

Agronox wrote:

Do you remember the rationale for that? Because LIBOR was more transparent.

That does ring a bell. But I'm not sure, because I was ignoring a lot of what they (RE agents/loan officers/escrow) were saying -- because on the face, it didn't make any sense. As mp said, they had been around a long time, but in the early '90s we had a choice, though I'm not sure why, since the two virtually tracked each other. When they started pushing us towards something, I was pretty sure it wasn't for my benefit. But as long as it didn't directly impact the deal, I was in no mood to argue.

1 currency now -yogi wrote:

YouTube - Dickie Betts & son Duane show how to play Jessica

very nice. errr that's the Allman Brothers BAND right. kudos to you for getting more individual in getting the credits right.

When J6P gets cold and hungry he'll care, but not before.

What's he going to do? Head to incarceration. The police and the military will protect this theft.

sdtfs wrote:

hey did you catch my thanks regarding your suggestions of better searches via google of bankers called Booger in the 16 century/17th century. I got there by googling "German bankers silver mines " but more confusion reigns.

Fugger - Wikipedia, the free encyclopedia

The Fugger (German pronunciation: [ˈfʊɡɐ]) family was a historically prominent group of European bankers, members of the fifteenth and sixteenth-century mercantile patriciate of Augsburg, international mercantile bankers, and venture capitalists like the Welser and the Höchstetter families. This banking family replaced the de' Medici family, who influenced all of Europe during the Renaissance. The Fuggers took over many of the Medicis' assets and their political power and influence.

Mosse definitely pronounces that Boogers - so the cat insists - he says it about 10 times is he playing a joke on us or .. he was of course German so I really shdn't quibble - still - anybody fluent in German who can verify ?

I'm not too familiar with the ins and outs of military coups, but wouldn't legislative capture by a corrupted corporate class that undermines national security be fertile ground?

militaries just want to get paid. I can't think of any military coups that took out an already corporatocratic regime.

militaries don't like lefties, of course, since lefties have these crazy ideas about cutting military spending.

Comrade Troyski wrote:

militaries don't like lefties, of course, since lefties have these crazy ideas about cutting military spending.

Like the Soviets and PRC?

Bubblisimo Gerkinov wrote:

Like the Soviets and PRC?

are you calling the Soviets and PRC leftie or crazy ( or both ) ?

They're lefties who like(d) to spend on their militaries.

They're lefties who like(d) to spend on their militaries.

http://en.wikipedia.org/wiki/1991_Soviet_coup_d'état_attempt

Bubblisimo Gerkinov wrote:

They're lefties who like(d) to spend on their militaries.

are there any righties who like to spend on their militaries ? I guess there are .. right..

so from that aspect - these guys look indistinguishable to rightists.. to me ? ( whoeverthe rightists they are ).

come - lets choose a different term - groups who want to spend on a military and groups who don't ?

mp wrote:

At the end of the day, the far right and the far left end up being about the same thing.

this 2D framing -wonder what George Mosse the cat will tell me about its origin. so much meaning ( or non-meaning ) compressing in 4 and 5 letter words. ( with a 3 letter TLA tacked on ).

skk wrote:

this 2D framing -wonder what George Mosse the cat will tell me about its origin. so much meaning ( or non-meaning ) compressing in 4 and 5 letter words. ( with a 3 letter TLA tacked on ).

Nor has the author, apparently, brooded on the degree to which, in a wicked world, a materialism of the Right and a materialism of the Left, first surprisingly resemble, then in action tend to blend each with each, because, while differing at the top in avowed purposed, and possibly in conflict there, at bottom they are much the same thing. The embarrassing similarities between Hitler's National Socialism and Stalin's brand of Communism are familiar. For the world, as seen in materialist view from the Left. The question becomes chiefly: who is to run that world in whose interests, or perhaps, at best, who can run it more efficiently?

Whittaker Chambers 1957 Review of Ayn Rand

You're welcome.

skk wrote:

You can quote him as a validator of your views if you wish. I'll look for somebody more wholesome.

Jesus perhaps?

Let me put it simply:

If you're at the bottom of the pyramid, it doesn't matter who's pulling the levers, Stalin or Hitler. It's the same old shit, just a different day.

Just one and done it seems for BFF.
Just got home from a nice day on the beach, my one day I take vacation and hit the beach. Weather was not great but much better than most here, and I at least had a very nice day.
So did I miss anything?

mp wrote:

Stalin or Hitler. It's the same old shit, just a different day.

But they were at war with one another.

Chavez came to power by election.

merchants of fear - But they were at war with one another.

You destroy that is the same as you, and study the unknown until you know enough to destroy them also.

mp - It ain't gonna be you.

Let me check my alliance list again.
God tells me he can get me out of this, but your pretty much F*....

So anyone knocked out by sun spots yet, or is it just an excuse for crappy service?
I know that's what my excuse is for missing 5 phone calls when I was on vacation time.

1 currency now -yogi wrote:

Contrived perjury. "Friends"?

contrived by who ( or do I mean whom ) ? I dread to ask - how can you contrive perjury ? coerce I can understand.

but definitely - as regards Friends ? alrighty enlighten me - or tighten the question yer asking.

skk wrote:

indeed definitely people at the bottom - have at it - I'm on yer side.

welcome to the crab bucket

We're concerned here with who's going to benefit.
It ain't gonna be you.

Whoever is going to benefit might cause needless wars and famine in the name of this or that.

merchants of fear wrote:

whatever the label.

its excellent you get to calling it a label . its important to separate the signifier from the signified. no really this isn't just some linguistic flight of fancy ( IMO ).

skk wrote:

well yeah - now you've dumped this far left far right meeting at some point round some mystical orb. we are better than this as you just showed. top bottom is much more like it.

Top, bottom, over, under, around.

Call it whatever you want.

skk wrote:

its excellent you get to calling it a label . its important to separate the signifier from the signified. no really this isn't just some linguistic flight of fancy ( IMO ).

mp says it will be bad either way... far left or far right. If the same criminals run it I agree.

A little good night music for all us older folks, just to remind us of what's important and to enjoy the moment.

YouTube - Rush - Time Stand Still (Official Music Video - 1987) [HQ]

What's the big problem, mp?

YouTube - Benny Benassi & Public Enemy - Bring The Noise (Pump-kin Remix)

ResistanceIsFeudal wrote:

The names may change from generation to generation; the agenda, never.

Another day of the same old shit.

mp wrote:

Another day of the same old shit.

Precisely... different day, same mothers....

mp wrote:

In the case of Nazi Germany, only the party elite reaped the benefits.
In the case of Soviet Russia, only the party elite reaped the benefits.
Do you see a difference here?
I don't.

But there was a struggle for regional (if not international) dominance though. And who wants to get in between that?

mp - Whittaker Chambers was far more complicated than you make him out to be.

But if people can't dismiss and belittle others to make themselves feel better, what good is the Internet?

"The only new news is that the banks are finally paying fines ..."

First, fine which is a miniscule of the profits they have made ...Can I rob a banks a few times and then get away with a fine which is a small percentage of the loot OR WILL IT BE CALLED DAYLIGHT ROBBERY?

Secondly, when are the banksters going to jail?

As Karl says in Market Ticker...

"It appears that Mr. Wasendorf's biggest offense, and the one that now looks to be sending him to the slammer, was that he didn't make enough (or any) political contributions to the two major parties"

In effect what he says (and I cannot agree more) is that as long as you are well connected with the establishment, you can rob banks and still not go to jail.

So you can say we have made progress is when you find BANKSTERS ARE GOING TO JAIL. Till then the progress is ZILCH!

AS LONG AS CROOKS RUN THE SHOW, we are screwed!

killben wrote:

AS LONG AS CROOKS RUN THE SHOW, we are screwed!

Crooks? Highly efficient economic decision makers untrammeled by plebian concerns of morality or ethic. Extraordinarily efficient economic decision makers.

mp - It has been a long day.

Have a good night mp, and take the weight of the world off your shoulders.

Good.

Which calls to mind the frequency with which both of our political parties center their discussions on capitalism, while it's been a long time since I heard the matter of 'representative governance' broached in any campaign.

It's the central issue. All else is diversion, the chosen subjects of authoritarians.

Marcuse saw that the public was hopelessly integrated by consumerism or became the One Dimensional Man as he put it in the late 60's and there was little possibility for radical social change...

Kauai_Kahuna wrote:

YouTube - RUSH - Exit Stage Left - [Video HD Remastered Full Version]

No music 'til 2:27... seemed like an hour...

merchants of fear - No music 'til 2:27... seemed like an hour...

Builds the anticipation, and so far very worth it.
What a nice job I have to admit, the band is always great but putting a live concert into such a great video takes a sound master. Can I say I'm impressed and love it again?
And it helps they are frozen in time as young, with hair...

Have a great weekend everybody.

The Antifascist: Herbert Marcuse (1898 to 1979)
Marcuse called the Soviet Union “bureaucratic communism” and a corrupt third-rate welfare state that would collapse in 40 years. Actually, his critique is more complex, but his critique of Soviet Marxism was similar as his critique of American Capitalism.
Marcuse regularly received death threats in America as a professor of philosophy. Marcuse was a nemesis of fascists in both Germany and America during his entire life.
The Great Refusal: Revolt by Nausea
Marcuse struggled throughout this entire intellectual history with the question of how revolutionary change will come about. His attitude changes back and forth from pessimism to optimism.
... in an essay “Repressive Tolerance” (1965) Marcuse developed an idea of the revolutionary subject that was touched upon in “One-Dimensional Man,” as engaging in “total refusal” and methodical disengagement from capitalist values. This concept was borrowed from a term coined by Andre’ Breton as “The Great Refusal” in which the defiant individual acts in absolute and total rejection of the institutions, values, and way of life in a repressive capitalist society in order “to undo the mutilation of our faculties” and tap into “the unlimited capacity for refusal.” The individualist consciously becomes extremely intolerant of the dominant social policies, attitudes, opinions, institutions, culture, lifestyle, values, norms, imposed by an authoritarian and repressive tyranny over human life and freedom so as to negate those sustaining distorted societal values with different goals, values, and aspirations that undermine this system of domination. This is revolt by nausea of the widespread inhumanity, dehumanization, and massive waste of mass consumption in society.
- Project for the Old American Century
News

This whole mess today was described in a book by Marcuse called 'Counterrevolution and Revolt (1972) an effort to show these internal disintegrating contradictions developing within corporate capitalism and the possibility of societal transformation.
...capitalist wealth itself sets up the conditions of disintegration because the rising standard of living and consumer expectation cannot be maintained and fulfilled which leads to crisis and social instability. These needs and expectations are material and normative. The material needs and expectations are “consumer needs” of homes, cars, jobs, vacations, household goods, and luxury items. Once advanced capitalism has a series of crises, society becomes unstable, frustration builds, and a reservoir of dissatisfaction emerges undermining corporate capitalism. These crises appear as dissatisfaction with work environment, unnecessary work, blatant obsolescence, decline in wages, permanent inflation, unnecessary high unemployment and underemployment, unstable monetary system, liquidity crisis, ecology crisis, energy shortages, and mounting war costs to retain neocolonial assets draining resources from social support programs. All these grievances produce widespread awareness of the failures of capitalism and a new consciousness forms within the working class that enable individuals to see that they are trapped in a “rigged game.” The other normative needs and expectations are leisure time, happiness, security, freedom and individual dignity that are promised by capitalism, but fails to deliver them.
Marcuse warns that corporate capitalism will in its advance stage reorganize to defend itself against revolt resulting from its failures.
News

burnside wrote:

That is correct. They were indeed. All of them.

Patient, persistent pressure to describe the Civil War may be an understatement.

Here's some patient, persistent pressure... this campaign does not accept corporate donations...
As the corporate media covers every move made by Republican presidential contender Mitt Romney and Democratic incumbent Barack Obama, we go to Baltimore to cover the Green Party 2012 National Convention...
The Green Party expects to be on the 2012 ballot in at least 45 states and plans to spend approximately $1 million on its campaign. Stein is the party’s first candidate to independently qualify for federal matching funds, a milestone for this 11-year-old third party.
Green New Deal: Organizer, Physician Jill Stein Poised to Win Green Party’s Presidential Nomination

There. In point of fact representation, juridical independence, regulatory capture, the whole panoply of the body politic is under constant renegotiation. It never ceases to move.

That the electorate perceives long benign periods - and wakes to 'sudden' crises - doesn't alter that reality in the slightest. Our history is turbulent, though not always visibly so.

burnside wrote:

It never ceases to move.

Right. There's many moving parts. The state is moving. Capital is moving. Talking heads lips are moving.
Are you assuming a democratic outcome (in the next century called the New Century) by all this movement seen and unseen going on?

The toys and gadgets keep folks busy. Many adjust to renting. Or lower incomes.
People can be fleeced in many ways and there's not much that can be done except turning to the courts.
The solutions to all these problems caused by the Great Bubble are in the hands of the courts.
In the meantime the Govt. is carrying out wars while the public is using video games and watching films and are removed from what is going on... unlike the Vietnam War when there was a draft.
As for the banks, when you don't have much income or savings you don't need a bank really except for small deposits.
mp seeing this as all falling apart is underestimating the decadent diversions keeping folks occupied and unaware if they don't try and look deeper. I think there's change. The credit system is pretty much screwed up. As are the housing markets. Prices for food are creeping up so eat less and look for markdowns. I think much of the consumer economy can be refused. But not the entertainment and telecommunications stuff. So things are moving... yes.
Edit - most new films can be refused no doubt. The Avengers sucked.

It's tempting to underestimate the electorate. To portray it as resigned or diverted. I think that perception contributes to the calls in these pages for radical changes, or sudden ones.

It's entirely possible to break the current order. I recognize that, but I don't necessarily predict it.

merchants of fear wrote:

Two bad choices don't make one good choice.

No, they don't. And there is no way to record a vote against a candidate, as it shows - incorrectly - as a vote for the opponent.

You may abstain. It's an honest reflection of intent. And by that I do not mean fail to tender a ballot.

YouTube - HANS KLOK - postcodeloterij wat schat je

just leave me with one of those lovely young ladies and volker will have more than enough wardrobe

I had never heard of this guy before, and picked it from reddit

I know it's all illusion, but the babes are for real

how did they do that?

I'm not complaining, I could spend most of one day helping her find her torso and head

I got no plans

Weather report: several more days in the 90s apparently this week (NH). Can't count all the 90 degree days this season so far. Not complaining, but weird.

Great. "We were discussing this in 2007". Yup. So, why no quotes from us from back then? I think it would make for a better post to include quotes from the comments here, or prior blog posts (though I dont recall any specific ones on LIBOR manipulation) rather than just quotes from the "news."

Good morning.

Yeah, my outrage meter has been pegged for so long I find it hard to muster any up. I'm so happy today is Friday for me and I have the next few days off. Been under the weather this week and just exhausted.

Same here and you have mail, Nanoo.

You just don't understand, they were doing God's work. Just let them be and eventually they'll work this all out...even further to their benefit

I'm certain you've read "Animal Farm", Comrade. So you must realize some animals are more equal than others.

Summary for Week ending July 13th