Fashionable Fear-Mongering: World War III With China
[ Add A Comment ]Posted on December 29, 2010 by admin in Politics
Wednesday, December 29th, 2010Now that the TSA’s relentless breast and crotch groping has saved us from the threat of radical Islamic underwear bombers, we can focus on new irrational fears. Like war with China.
 I surrender. |
How’s your Mandarin? Do you like Chinese food? These are good questions, because if you’re tired of the same old fear-mongering about radical Islamic terrorists, we have an even more terrifying thought for you. What if suddenly you couldn’t afford a new cell phone or flat-screen TV because China started restricting their exports of rare earth metals? Now there’s something the average American would go to war over. And the idea of war with China isn’t so preposterous; we’re already at war, and have been for a while now. So far we’ve been just fighting about who’s state-controlled capitalism is better for the world. Their brand, in which they cleverly make the Japanese buy dollars by buying Yen to manipulate currency? Or our brand, in which Ben Bernanke just prints more money to manipulate currency? Some think China is flipping off America with their strategies, while others take a more balanced view, pointing out that we need China to do this. And still others take a longer view and suggest we need to turn this “financial cold war” into a new game of Mutual Assured Destruction, only this time based on economics. But it’s not really just the sanctity of our electronic gadgets or the once almighty dollar we have to worry about, because China’s defense minister said yesterday that China is preparing for armed conflict ‘in every direction’. So what would war with China look like for the US? Pretty grim, according to a RAND study published a few months ago. Not only do they have submarines that can pop out of nowhere and a missile that can take out an aircraft carrier, but if you believe the stats on this page, China has twice as many people fit for military service as there are people in the United States. I’ll just be signing up for that Mandarin class now, so I can welcome our new overlords with a hearty Ni Hao! By the way, if you don’t understand why Ben Bernanke likes the money printing solution, see the video below. Read the rest of this entry »
Indian Microcredit Industry About To Collapse?
[ Add A Comment ]Posted on November 17, 2010 by admin in Editorial & Opinion
Wednesday, November 17th, 2010In spite of the feelgood vibe associated with microfunding for the economically challenged people of the world, no-one’s going to be singing “Tiny Bubbles” if India’s massive microlending industry bubble bursts.
 Even with microlending, there are always strings attached. |
Wow. Just when I had stopped worrying about how the collapse of Ireland’s economy might trigger the broader collapse of the global economy (it turns out Ireland’s economy isn’t dead, it’s just resting ), now I have to worry about the collapse of India’s economy. After watching America’s banking system get gutted by smart rich guys loaning tons of money to people to buy houses they couldn’t afford, SOMEONE should have noticed the potential for the same to happen with the massive microcredit industry in India. The parallels are actually rather remarkable, except the consequences are much more dramatic. This Globe And Mail piece politely refers to how the poorly-regulated microloan industry in India has resorted to “usurious interest rates and coercive means” to operate. Meaning they’ve apparently been operating much like the local loan sharks everyone was happy to see them replace. This has led to suicides by microcredit-bankrupted individuals who are now being urged by Indian legislators to “strategically default”. Which then gives the banks a fright, because they’re exposed to the tune of $4 billion on all of this lending. The tragic thing on the human end of this scenario? The worst of these overextended borrowers who are choosing suicide as a solution may only owe as little as $2,000. Too bad the Gates Foundation and others didn’t speak up sooner about how the microcredit model was so flawed. For a refresher on how this sort of crisis can play out, see the graphic below. Read the rest of this entry »
Wealth Care For All
[ 3 Comments ]Posted on March 22, 2010 by admin in Lifestyle & Culture
Monday, March 22nd, 2010If America were one hundred people, one would have forty-two bucks while eighty others shared seven dollars.
Now that they seem to have that “health care for all” thing fixed, maybe America should get to work on WEALTH care for all. I mean, somebody besides the Billionaires For Wealth Care that is, whose motto is “if we’re not broke, don’t fix it”. Yeah, it’s nice that Ben Bernanke is all outraged now that the money has changed hands and he still has a job. But I bet he’s still against the idea of wealth redistribution otherwise, even though he was behind one of the most epic examples of it. But seriously, what is wrong with redistribution of wealth? And when did so many working stiffs start thinking it’s a horrible idea? Let’s ponder for a moment the concepts of “fairness” as it pertains to wealth distribution. If, because of our God-given right to explore our Darwinian right to survival of the fittest in our laissez-faire capitalist society, I guess it’s fair that if you can horde a few billion dollars for yourself, well, more power to ya. At the point where you have 6 or 7 houses and as many cars, as well as virtually no worries in terms of food, clothing, shelter, and FU luxury items, still we might say well, go ahead. You’re a selfish ass, but go ahead. But when you reach this level of surplus and the citizens of the country that got you there are literally starving, I think any reasonable person would say maybe it’s time for you to cut a few bucks loose simply out of human decency. I mean really, you can’t drive seven cars at once, can you? In my opinion, if by this point you haven’t decided on a little serious philanthropy, that’s still your choice. But in the interest of maintaining the “survival of the fittest, every man for himself” theories that you justify your behavior with, I think that’s when it becomes fair for the rest of us to kill you and eat you. Because science shows that money only makes you happy when you know that you have more than others, and you can’t see us anymore through your smoked-glass limo windows. And we just want you to be happy. So once we’ve wrecked your life and you’re unemployed (we weren’t really gonna eat you, you probably taste like crap) you can rediscover that giving even feels good when you’re jobless. On a serious note: you always hear statements like “one percent of Americans have ninety-nine percent of the wealth”, but no-one ever gets the infographic right. They always use plot lines and pie charts. We have a better example below, feel free to share it. Read the rest of this entry »
Is It Barack Obama’s Fault You’re Broke?
[ 1 Comment ]Posted on July 10, 2009 by admin in Politics
Friday, July 10th, 2009We’re a little overdue for more irrational finger-pointing about the economy. Maybe Obama did it.
 This image has little to do with the article. We just thought it might get your attention. |
I think it’s obvious if you take a quick look at the Politics section here on Dissociated Press that I’m no political science expert. But I do think I’m a little more aware than the average Bible-thumping Palin supporter, or all-bark-no-bite liberal intellectual. Which is why, although I feel comfortable in saying that politicians by and large are a bunch of money hungry, morally decrepit philanderers, I can still take a broader view and realize that although the media is already trying to link Obama administration policy to the economy, that this is patently absurd. So who’s to blame for the economic situation? Well, Time Magazine has 25 suggestions. But maybe it’s testosterone, or a glitch in our brains. Or maybe mathematics is to blame. Personally, I think it’s all at once both a little simpler, and a little more complex than all of this. I think it’s greed, and a long-term crisis of values. At least with Enron, there was a feeling that someone was going after the bad guys. And as a result, Enron no longer exists. In the case of the recent massive financial industry failures though, we’ve mostly sat back as citizens and coughed up the loot while the responsible parties move through the magic revolving door of business and government. This Vanity Fair piece about Joseph Cassano is one of the few in-depth looks at the real people behind this catastrophe that I’ve seen, and Cassano is just one of dozens of his type. I don’t know about you, but I’m broke, a little angry, and a little confused. Part of me wants to make an updated Leave Barack Alone video, and part of me wants to join Jon Stewart in saying “That’s great. Now fix the economy!” What do you think?
Will Greentech Equal Greenbacks?
[ Add A Comment ]Posted on December 3, 2008 by admin in Clean & Green, Technology
Wednesday, December 3rd, 2008Don’t burst my energy bubble
I was talking to a friend today who was reconsidering her possible future in environmental work because of quite reasonable concerns about what may happen to the economy in the near future. I hope that in spite of (or maybe because of) these economic concerns, she and others stay focused on the idea of developing a clean & green future for America. I personally believe that our current economic woes could be the motivation to shift the paradigm and put the country back on track as a leading innovator. It seems I’m not totally crazy; Barack Obama promised during his campaign (and stayed on message in his recent radio/web address) that he intends to invest $150 billion to “build an American green energy economy” in the belief that as well as creating 5 million jobs, it is in fact the only way forward in the current energy/economic environment. It’s nice to see that there seems to be an international consensus – Brazil is committing to reducing Amazon deforestation by 70%; in Hawaii (that’s a country, isn’t it Sarah?) there are plans for an electric car network; BMW is looking for 500 lucky field testers for their Mini EV, and in the general picture, green technologies have enjoyed an astounding 1400% increase in investments since 2001. There are so many great ideas busting out (and nice sites like CleantechGreentech.com with great info on the topic) that it’s almost impossible to keep track. Some of these ideas are really simple, but game-changing. Things like Crowdsourced Green Venture Capital Funds. Anybody have a positive story about greentech economics to share?