BUBBLE

From:

http://kunstler.com/blog/2012/06/rocky-mountain-high.html

Klein 4:34

"More colloquially, they want to change things without really changing things. Too bad that defies logic. That's why they invoke "Deus ex machina" AKA technology. For something to work that defies logic, you need a miracle. No problem. Technology will provide that. This from supposedly mature adults. God help us."

Also, hoping for "miracles", they use other abstract terms, imaginary concepts, words and ideas that are impossible to pinpoint down, to define, to understand concretely what the hell they are all talking about, etc.: like INNOVATION, TRAINING, EDUCATION, COMPETITION, GROWTH (in all of its very vague and foggy permutations, such as "Economic Growth", "Sustainable Growth", "Development"), GREEN TECHNOLOGY and so on and so forth, with vague, foggy, undefined (because you can always switch what you really mean at the last second and keep on confusing everyone with such deep and scientific concepts all the economists and politicians and sociologist always talk about and especially you can always connect any cause and effect by defining and using abstract words and concepts like "Less Taxes Creates More Jobs" (and very generalized and global concepts, so global that they are essentially undefined, like "Taxes" (which and for who ?) and "Jobs" (which jobs ? in what sectors ? etc.) and such) and intractable concepts and goals).

The bottom line is that they all create abstract words that don't really mean anything, to then define an imaginary "cause and effect" that is really hiding a subtle agenda a given part of society wants to pass: case in point, all the talk about "cutting welfare" in the EU so that the Southern European countries can "Grow", changing their "Labor Laws" so that they can hire and fire easily and so forth and so on without ever telling what the true reason for the EU crisis really is and namely:

SPAIN HAD A HUGE HOUSING BUBBLE, THEY HIKED UP THE PRICES OF THEIR HOMES AND BUILT LIKE CRAZY AND EVERYONE BOUGHT THESE HOMES BY MAKING HUGE DEBTS ALL THINKING THAT THEY HAD BECOME RICH, THAT OWNING HOMES WAS THE PATH TO NEVER ENDING WEALTH FOR ALL. NOW IT IS PAYBACK TIME, AN ECONOMY BUILT ON HIGH HOME PRICES CAN ONLY GO SO FAR, NOW THEY HAVE HIGH HOME PRICES, MILLIONS OF EMPTY HOMES AND NO JOBS. WHAT C*CKS, AND NOW SPAIN WANTS MONEY FROM OTHER EUROPEAN COUNTRIES TO HIDE THE FACT THAT SPONGING OFF HOME PRICES AND VALUES WASN'T WRONG AFTER ALL (in other words, they don't want to admit that they hiked their property prices way higher than what their economy could afford). THIS SAME MECHANISM OCCURRED IN THE GOOD OLD USA, HIKE HOME PRICES, SELL THEM TO ALL THROUGH DEBTS (SUBPRIME LOANS) AND CRASH THE ECONOMY, ETC. THIS SAME MECHANISM CRASHED THE JAPANESE ECONOMY IN THE 90S AND THEY ARE STILL PAYING FOR IT. THIS SAME MECHANISM IS STILL OPERATING IN MOST OF THE WORLD, IRELAND, LONDON, MOSCOW, SAO PAOLO, ETC. THIS IS CALLED "INFLATION", HUGE "INFLATION" BUT NO ONE NOTICES IT, BECAUSE THEY THINK THEY ARE GETTING RICH BY HAVING HIGH HOME VALUES (and in fact the origin of this mechanism is the 1970s inflation, inflating home prices, but never making the prices go back down again, especially outside of the USA where there is still some feedback mechanism to calm home prices).

WHEN ON EARTH WILL PEOPLE LET THE HOME PRICES CRASH, BABY CRASH, KILL HOME PRICES AND RENTS ? THE REAL ORIGIN OF ALL OF THE ECONOMIC TURMOIL OF THE LAST YEARS IS HUGE HOME PRICES, INFLATED HOME PRICES AND RENTS AND BANKS LENDING TO CLOWNS WHO THOUGHT THAT HOME PRICES BEING HIGH MADE THEM RICH. NOW, ITALY HAS THE WORST HOME PRICES BUBBLE OF ALL, ONLY THEY STILL DIDN'T NOTICE IT, THEY STILL THINK THEY ARE ALL "RICH": ITALY IS THE NEXT HOUSING BUBBLE TO CRASH, BUT ITALY IS TOO BIG TO FAIL, GOOD LUCK WITH THAT.


AMEN.