We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]
Of course the predator political class are going to use the behaviour of the predator social class they created to justify their continued existence… no surprise there.
But all it takes is a look at the footage or a walk down the right street if you live in London, to see that the thugs in question, with a Blackberry in one hand and wearing expensive trainers, are not doing this because “Haringey Council has lost £41m from its budget”. Does anyone seriously think these rioters are doing what they are doing because their ‘Youth Services’ Danegeld was cut back?
Just look at this…
… these are the bastard children of Diane Abbott and David Cameron… and their lineage goes all the way back to Clement Attlee…and all the other members of the political class who created them as the Welfare State progressively hollowed out civil society. These are the product of the demon seed that was planted in 1945 and progressively watered ever more lavishly each year.
So yes, the largely fictitious ‘cuts’ are indeed to blame. Far far far too little and 20 years too late.
The riots in London over the last couple nights can be condemned as assaults on private property by predatory opportunists. That much is easy.
What is rather harder is commenting on what sparked them off and I have felt no urge at all to swiftly form any opinions.
The police say the dead man was shot after shooting at a policeman and that said policeman’s live was saved by the incoming round lodging in his radio.
Well… is that true or is it a self serving fantasy to exonerate the use of deadly force by the police? I have no idea. But in the aftermath of the Jean Charles de Menezes killing, where just about every single ‘fact’ provided by the authorities turned out to be either mistaken or a total fabrication, quite simply how can anything said by the Met be taken at face value until it is corroborated by multiple sources?
Was this a ‘righteous shoot’ of a gangster who fired first or another cack-handed murder by the state justified by a flood of lies?
Only time will tell and my unwillingness to give the police the benefit of the doubt is entirely the fault of the police’s handling of the appalling Menezes affair.
“The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone” […] In the Xinhua commentary, China scorned the United States for its “debt addiction” and “short sighted” political wrangling. “China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,” it said. It urged the United States to cut military and social welfare expenditure.
No kidding but hey, when a state run by a communist party tells the USA to spend less on… welfare, you start to get some idea just how strange the world has become and just how screwed the US actually is.
At this point it might be useful to clarify precisely what the dispute concerns. The question is not whether the federal government should grow. As Reason’s Nick Gillespie pointed out a few days ago, nearly nobody in Washington has actually proposed shrinking the leviathan. To the contrary, the dispute is whether to raise federal spending from the current $3.8 trillion to $4.7 trillion over the next decade (the Paul Ryan plan) – or to $5.7 trillion (the Obama plan). Bear in mind that those increases would come on top of one of the fastest expansions of federal spending in U.S. history. When President Obama took office, the budget stood at $2.9 trillion. Two. Point. Nine.
The “twin pillars” of the world economy continue to totter. Global investors, politicians and the financially-literate general public are wringing their hands about two previously “unthinkable” disasters – the US Congress “closing down” the government of the world’s largest economy and the break-up of the eurozone.
American lawmakers may do a deal this weekend, so managing to raise the US debt-ceiling prior to the August 2 deadline. Europe’s monetary union may, for now, be held together with a bucket-load of political fudge. If so, we would avoid both a US default and a “euroquake”, so averting another “Lehman moment”. I certainly hope we do.
[…]
“It’s no use throwing dollars out of a helicopter,” Guido Mantegna, the Brazilian finance minister, has commented.
“QE amounts to economic hooliganism,” the Russian prime minister, Vladimir Putin, observed last week.
Mantegna and Putin are right. We Westerners won’t admit it.
‘We’ westerners? To hijack an old joke about the Lone Ranger and Tonto, Who is “we”, Pale Face? What he is saying is just what Austrian school economist have been pointing out for years.
But he is wrong about sovereign default being a ‘disaster’. On the contrary…the sooner the better, I say. The only cure for the absurdity of bloated state borrowing is for it to become a great deal harder for states to do it… and as there is clearly no political will to tell all the vested interest with their snouts in the trough that the binge is over, not just for the well connected bankers but for the ‘innocent’ voters who are state funded parasites, then the only solution is for lenders to learn that sovereign risk is now actually… risky.
Let even one of the Big National Players default and the money states borrow will dry up like morning dew… and that is a good thing, not a bad thing.
I have a lot of time of Michael Totten. That does not mean I agree with everything he says but I rate his commentary and reportage more highly than 98% of the Fourth Estate’s professional ‘experts’ from megacorporate media land.
His latest work, Hanging with the Muslim Brotherhood, is an interview with Esam El-Erian and I commend this to you, not just for its informative content but because it may have the same effect on you as it did on me… some laugh-out-loud moments just visualising what the exchange of views must have been like for the exasperated but ever polite Totten and his redoubtable colleague Armin Rosen.
Read the whole thing and perhaps even drop your mouse on his ‘donate’ link as he is worth every penny.
Wolfgang Schauble, German finance minister, said there was no justification for the four-notch downgrade or for warnings that Portugal might need a second bail-out. “We must break the oligopoly of the rating agencies,” he said.
Heiner Flassbeck, director of the UN Office for World Trade and Development, said the agencies should be “dissolved” before they can do any more damage, or at least banned from rating countries.
Now ponder that for a moment… what is a ‘rating agency’? It is a company that states an opinion regarding credit worthiness. And those opinions are only significant if people who make investment decisions think the opinions in question actually reflect reality, i.e. the opinion has some credibility.
So what these quoted members of the political class are calling for is banning credible opinions about the consequences of decisions by, er, people like themselves.
Astonishing. And in reality rating agencies have a history of excessive optimism, only downgrading ratings long after the dots were joined by anyone who has been paying attention.
“Will militant unions derail big fat Greek sell-offs on the rocky route to recovery?” sayeth the Telegraph.
Well anyone buying Greek infrastructures with private money deserves everything they will get… it would be easier and probably less stressful to just flush the money down the toilet and call it ‘performance art’.
Leave Greece to circle the drain as a prime example of Mencken’s observation:
“Democracy is the theory that the common people know what they want and deserve to get it good and hard”.
Greece will just be the first of many as the vast ponzi scheme that is the ‘welfare state’ reaches its climax set to Bouzouki music playing faster and faster…
It is difficult to know how seriously to take China’s red revival. Like the idea of a Cultural Revolution-themed restaurant – could the world imagine an Auschwitz Café? – to Western eyes the campaigns are almost beyond parody.
– Peter Foster discussing the nauseating celebrations of the communist party in China
And even if the Greek populace remained blissfully oblivious when all that debt was being piled up, they certainly are aware of it now. But judging from the riots in the streets their only thought still is that they want the party to continue, at someone else’s expense. They deserve what they get.
… no, it was the highest institutions of the Netherlands who were on trial with their credibility and very legitimacy at stake.
Although I am delighted he was acquitted of all charges, frankly it is a disgrace that he was ever put on trial in the first place for simply stating his views about Islam and multiculturalism.
And the fact the BBC calls him ‘far right’ tells you nothing useful about Geert Wilders’ views but speaks volumes about the BBC.
The dependably dismal Archbishop of Canterbury, a man who thinks his god favours a massive force backed regulatory state which takes one person’s wealth implicitly at gunpoint and gives it to someone else, get a well phrased hammering by Graeme Archer:
It is obscene, Dr Williams, that some people choose not to work, and are better off as a consequence than those who do not make such a choice. Such people are less deserving than others. If there are no jobs available, what are all these Polish men doing on this bus, at 6.30am? They deserve more than to be viewed as taxable cart-horses.
And you? On an average salary? Trying to raise a child and thinking about having another? Coming to the conclusion that you might be able to balance commuting against mortgage costs, if you moved to an unpopular area farther out than you’d like? It must be hard for multiple houseowners such as Mr Cruddas, or the Archbishop in his palace, to understand: this is life, for most of us. And we’re not fascists because we make a distinction between the deserving and the undeserving when we see where our tax is spent.
Read the whole thing. My only regret is Archer does not follow the moral argument to its logical conclusion.
The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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