by William Skink
Don’t let the calendar fool you. There will be nothing new in the coming year to change the economic, geopolitical and environmental trends leading us toward cataclysm.
Up North, as in the North Pole, a “freak storm” caused temperatures to be 50 degrees higher than usual, making it colder here in Montana than in the arctic. Add that to intense flooding in the midwest and a flurry of tornadoes and snow in Texas, one might wonder what more needs to happen to compel action.
If talk was tantamount to action, it would appear progress toward averting disaster is happening. But when one unpacks the rhetoric of, say, Democrat Senator Sheldon Whitehouse of Rhode Island, the reality becomes depressingly clear. While Whitehouse bashes Republican climate deniers, he’s also doing this:
As the Aliso Canyon natural gas leak continues to spew into the air, Rhode Island’s small hamlet of Burrillvillle is now facing the chance to be the future site of such a catastrophe. With the help of a key Democratic Party endorsement and accession from labor union bosses who should know better, Rhode Island may soon host a fracked natural gas plant rather than the saner move of a sustainable electric plant.
2016 will likely be dominated by election year politics. Anything that happens, either domestically or abroad, will be filtered through the lens of America’s reality television show we might as well call Presidential Idol. Donald Trump’s numbers show no sign of weakening, which is great news for Democrats because they can focus on the Trump boogeyman instead of their own terrible candidate, Hillary Clinton.
But let’s not forget Donald is a scary racist fascist who says terrible things like this:
In my opinion, we’ve spent $4 trillion trying to topple various people that frankly, if they were there and if we could’ve spent that $4 trillion in the United States to fix our roads, our bridges, and all of the other problems; our airports and all of the other problems we’ve had, we would’ve been a lot better off. I can tell you that right now.
We have done a tremendous disservice, not only to Middle East, we’ve done a tremendous disservice to humanity. The people that have been killed, the people that have (been) wiped away, and for what? It’s not like we had victory.
It’s a mess. The Middle East is totally destabilized. A total and complete mess. I wish we had the $4 trillion or $5 trillion. I wish it were spent right here in the United States, on our schools, hospitals, roads, airports, and everything else that are all falling apart.
Man, that is some scary shit. So let’s elect the cackling Clinton who celebrates the sodomizing and execution of heads of state, right?
Economically, 2015 was terrible. Despite that reality, the Fed simply had to raise interest rates to maintain the illusion that it can responsibly manage monetary policy. The S&P 500 ended the year in the red, highlighting the reality that, throughout the economy, major indicators are once again (as they did in 2007) warning that the wheels are about to come off the bus.
Here is a term that could rear its ugly head in 2016: bail-in (because bail-out is like so totally 2008):
It has now been more than two and a half years since the Cyprus Steal, the first “bail-in” perpetrated in the Western world, occurred. Before reviewing the history of this newest financial atrocity, it is necessary to define the terms.
The term “bail-in” describes a scenario in which a bank confiscates private property to indemnify itself for losses it has suffered. A bail-in is a totally lawless theft of assets, as there is no principle of law (of any kind) that could authorize such a seizure of private property. And in fact, there are many principles of law that demonstrate the lawlessness at work here. As with much of the financial crime jargon, “bail-in” is simply another gibberish euphemism like “quantitative easing” or “derivatives.”
There was a chance at the beginning of Obama’s reign to address the criminal syndicate known as Wall Street, but that didn’t happen. Instead Obama brought in the criminals and explained that his administration was the only thing standing between them and the pitchforks. Anyone who thinks another corporate coddling Clinton will do a damn thing about these criminals is pathologically delusional.
Maybe 2016 will be the year we hit bottom as a nation and start the long, difficult path toward a sane and sustainable future.
Personally, I’m still holding out hope that aliens will descend to provide a cosmic intervention before we destroy the ability of our species to live on this planet because short of something miraculous like that happening, I don’t see how we will change course before it’s too late.
“Instead Obama brought in the criminals …”
I think quite the opposite is true. Before he was suggested to us as the next president (in 2004 no less), he was selected, and Wall Street has a large hand in the process.
Nothing short of a miraculous energy revolution — maybe easily built, cheap small scale cold fusion reactors — is going to keep the planet from depleting all of its hydrocarbon fuels before any serious alternative technologies are going to be promoted. The hydrocarbon lobby (including all Montana Dems who think it is ok to keep digging coal or expanding the Bakken) isn’t going to give anything but lip service to alternatives.
But fear not. OPEC is losing control of the oil market and pricing:
I think they call that going from the frying pan into the fire.
I’ll leave the geopolitical ramifications of this to people’s imaginations for now. A new era of global robber barons is pretty much locking up all the leverage they need to…
Sustainable? Like a $20 Billion debt is sustainable?
I just saw The Big Short tonight. you should check it out, Swede.
Buttloads of debt authorized by the congress can indeed be blamed solely on the government.
I’ve come around a little about the housing crash. Yes, legislation was passed to allow low income loans which increased demand for home ownership nation wide. And if these risky loans hadn’t existed there still would have been a crash, but smaller in size and scope.
I’m falling in line with the December 20th Forbes article. It was basically people being wrong. Wrong in the fact that this boom would last forever.
http://www.forbes.com/sites/timworstall/2015/12/20/where-krugman-goes-wrong-about-the-big-short/
This post could really use some pictures.
http://www.zerohedge.com/news/2015-12-31/happy-new-fear-2016
Up to your elbows in partisan politics again, I see. It’s like a drug!
Liz brought her up. You know me Mark, non-reader which likes pictures.
Well, I gather from the images you supplied that you are aware that images are often manipulated for effect so that not only should we not trust our ears, but our eyes too.