JustThinking.us

I like Bill Bonner a lot.

I've read "The Daily Reckoning" for a long time and rarely skip his column.

But clearly, he has been spending way too much time with "The Mogambo Guru".

And that can't possibly be good for anybody's mental health.

“The West is doomed.

It is already second rate.

It just doesn't realize it yet.

The Chinese work harder.

They save more.

They are better organized...and probably smarter.

And there are more of them.

They are not burdened by two centuries of success ... neither by expensive social welfare programs, nor by a Goliath military-industrial complex, nor by thousands of lobbyists, lawyers, and educators.

The return on investment capital is higher.

You just have to pay off an official or two.

In America and Europe, you have to pay off the entire establishment ... the unions, the politicians (local, state and national), the hacks, the regulators, the pentagon, the meddlers, the do-gooders, the unemployed, the contractors, the public employees, the poor, the rich, the halt, the lame ...

... every leech in Christendom ....

It is just a matter of time before the Chinese take over.

Soon, they will be the richest, most advanced, most accomplished people on earth...its leading innovators, its greatest artists and architects ... its standout scientists ... and its top military power.”

 Bill Bonner

 Or, as Mogambo himself might say (WFD)

You get Richard Maybury

“We have almost no way of tracking what is really happening in China.

The statistics are generated by government agencies that feel no obligation to be truthful to the western devils who overran China in the 19th and 20th centuries.

The numbers are quoted in the mainstream press as if they are reliable, but they aren’t, except in the sense that they tell us what the Chinese regime wants us to think…

It’s likely, in my opinion, that for all practical purposes, absolutely every modern Chinese company is malinvestment.

Its buildings, equipment and workers are in the wrong places doing the wrong things at the wrong prices. These businesses were erected in artificial hot spots created by the injections of fiat currency.

For the present, as long as the supply of fiat currency continues to rain down, the Chinese economy will look fine.

But when the value of the yuan begins to drop sharply, Chinese officials will be faced with a terrifying choice: continue inflating the money supply to prop up the cones, until the yuan is worthless, or stop, and watch the entire economy go belly up.

Neither choice is likely to lead to social harmony.

China’s population reportedly numbers 1.35 billion. About 60% are working age. 

Hundreds of millions live just one paycheck ahead of starvation.

They all know the elite in the cities wallow in luxury…

The fact that at least some Chinese leaders do not want the yuan to climb against the dollar is strong evidence they know what they’ve done.

If the yuan rises much — perhaps 20% or more — prices of Chinese exports will rise, sales will fall, and the shakeout will return.

Tens of thousands of businesses will go under, and mobs of unemployed will begin pouring into the streets.

So, I think some or all the Chinese leadership know they’re facing a Stephen King nightmare…

How big will the disaster be?

I think it has the potential to be the worst in human history —worse than the Black Death, the Dark Ages, the fall of the Roman Empire, you name it.

If just 4% of the population is killed, it will be the worst bloodbath ever, surpassing even the total global body count of World War II.

This kind of thing has happened before in China many times.

Atrocities there are not done halfheartedly…

China is a house of cards, and the bigger they build it, the harder it will fall.

In my opinion, the folks in the Pentagon should be thinking about that;

it is destined to become their problem…

In my opinion, the West’s outdated Keynesian economics has set China up to be the worst catastrophe in history…”

Richard Maybury, Early Warning Report, 05-10

OK then ... now I feel much better.

 It could work.

A far more truthful and accurate accounting of events.

The Wall Street Journal Interactive put together an interactive chart for U.S. unemployment going back to 1948 which is in their words, "... the first year in which the government provides data that can reliably be compared with the current rate.

Clicking on the chart below takes you to the site.

I subscribe, but I don't think you have to in order to access the interactive site as there are comments from non subscribers.

So ... which is it?

A historical view, or an historical view?

From Professor Jack Lynch of the Newark Campus of Rutgers University.

Guide to Grammar and Style

A or An"

 Use an in place of a when it precedes a vowel sound, not just a vowel. That means it's "an honor" (the h is silent), but "a UFO" (because it's pronounced yoo eff oh).

Most of the confusion with a or an arises from acronyms and other abbreviations: some people think it's wrong to use an in front of an abbreviation like "MRI" because "an" can only go before vowels. Not so: the sound, not the letter, is what matters. Because you pronounce it "em ar eye," it's "an MRI."

One tricky case comes up from time to time: is it "a historic occasion" or "an historic occasion"? Some speakers favor the latter — more British (read pompous) than American speakers, but you'll find them in both places — using an on longish words (three or more syllables) beginning with h, where the first syllable isn't accented.

They'd say, for instance, "a hístory textbook" (accent on the first syllable) but "an históric event." (Likewise "a hábit" but "an habítual offender," "a hýpothetical question" but "an hypóthesis.") Still, most guides prefer a before any h that's sounded: "a historic occasion," "a hysterical joke," "a habitual offender" — but "an honor" and "an hour" because those h's aren't sounded.

Screw it!

I ain't changing!

Evidently, the One Hundred Trillion Dollar note you see below is/was real.

At least in the sense that some moron at the Reserve Bank of Zimbabwe viewed it as currency.

Jeff Harding in a very well done piece, claims it was purchased for $7.50 on Ebay.

Click on the One Hundred Trillion Dollar note for the story.

Way double highly recommended.

Easy reading, lots of pictures, just for you Terry D. II

Money: A Semi Pictorial Fable

By Jeff Harding, on October 17th, 2009

I don't know about you, but I find it troubling that the morons running our federal government are beginning to compare so favorably with your basic Zimbabwean government morons.

As an aside, I was unable to open either the official government web site, or the Zimbabwe tourism authority site.

I couldn't decide if that was a good thing, or a bad thing.

Paul Radamachar put together a very good Google Earth interactive on the gulf oil spill.

Click the image below to access the interactive.

Thanks to Tony K. for sending this one in.

Speigel Online offers a very informative and entertaining piece entitled,

The Hollow Euro

Specter of Inflation Haunts Europe

It's a little long, but pretty easy to read.

Recommended.

Click on any chart to link to the site.

P.S. American taxpayers contribute about $50 billion by way of a 17-20% partnership in the $250 Billion from the IMF. 

I'm searching high and low for a similar treatment of deficits within the states.

Most notably California, New York, Illinois et. al.

Preferably with lots of pretty colors, graphics, etc.

You know what I like. 

If you see something, let me know.

The "Field of Dreams" farm can be yours for a paltry $5,400,000.

The entire 193 acre farm including the house, two concession stands and six out buildings is being offered by Don and Becky Lansing whose family has held the farm for over a century.

Now, I have been to the "Field of Dreams" farm.

Hit some fly balls out to the kids, played a little Pickle, dropped a hundred and a half at the concession stand on sweatshirts, midget bats, refrigerator magnets and ice cream bars.

And as far as I'm concerned, it is one of the most beautiful and tranquil places I have ever been.

If you like that kind of stuff.

And I do, I just love the smell of horse shit ..... seriously. 

I'd give my left testicle to have a place like this.

If only I could convince the little wiffer and the kids to give up life as they know it and move to the middle of Iowa.

So, just because this happens to be what I do,(when there's something to do) and mostly because I just flat out can't help myself .....

I get out my trusty hp12c and do the math.

OK, that's $5,400,000 divided by 193 ... 

$27,979.28 (rounded to the nearest penny) per acre.

Feels a little optimistic ... let's do some shopping.

IOWA COUNTY

Description:

465 acres, m/l, located west of Parnell. 212 acres CRP. 14 acres cropland with the balance in good pasture. Includes a farm house and cattle barns. This would make a good income producing livestock farm. $2,300/A

Contact:

Mt. Vernon Office 319-895-8858

Description:

168 acres, m/l, located approximately 8 miles northeast of Newton on N 75th Ave E. Estimated 165 crop acres with CSR of 64.1. No buildings. $4,613/A

Contact:

Nevada Office 515-382-1500

Description:

267 acres, m/l, located northwest of Letts. 123.4 cropland acres with a 68.4 CSR. 43.5 acres are in CRP with balance in mature timber. Includes a well maintained home with nice outbuildings. $3,200/A

Contact:

Mt. Vernon Office 319-895-8858