Economy Rigging 1

BSK jail break serfdom log – 28/07/2010 July 28, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 6:17 pm



The ‘ruling interests’ are using an ‘economy based on consumption’, liquidating it, and in the process, turning it into a business opportunity and strategic game play too re position their interests for the best seat in the house for the next economic model coming down the neo liberal pipe.




Funny side story from 17th century Dublin history:

After James II abdicated the English throne in 1688 he went to France for a short time. Then in early 1689 he came to Dublin.

The first thing he did to fund his campaign was to issue a decree that increased the value of English gold by 20% and Silver by 8%.

Later that year after he ran out of funds, he established a mint in Capel St. Dublin where he went on to make his own coins from brass and copper. This was originally intended to be a stop-gap measure, as he intended to convert them back to silver once he regained the English throne, of course that never happened.

After he ran out of brass and copper he started to make coins from tin and pewter.

By royal decree, he seized two brass cannons from Dublin castle.

In 1690 he resorted to making coins from gun metal and broken cannon balls, this led to the adoption of the phrase ‘gun money’.

The situation became so bad in 1690, that all half crowns were re-called and re struck as crowns and all other coins were reduced in size to save metal.

After James lost the Battle of the Boyne. The mint came under the control of the Williamites and in early 1691 the currency was declared worthless.

The first time I read this in Frank Hopkins’ wonderful book – Hidden Dublin – Deadbeats, Dossers and Decent Skins,
I thought that it was a cute and laughable Dublin story but it now appears more to be a valuable lesson form history about
the fate of ‘Fiat Currencies’.

Now I’m not an Ayn Rand apologist but a few years ago read I Atlas Shrugged. One thing that stuck in my mind was the
phrase: “So long as men live together on earth and need means to deal with one another–their only substitute, if they abandon money, is the muzzle of a gun”.

In Rand’s mind, the only true money was gold. In the light of the story about the Jacobian mint this phrase assumes a
poignantly ironic twist.

I’m not a historian or an economist, I’m an engineer. In my job, I have to deal with truths and facts to get things working. I can’t resort to half truths or propaganda, the things I design either work or they don’t; simple Boolean logic.

We all know who the deadbeats and the dossers are (the government). The big question is: Do we have enough decent
skins left to take care of this mess?


BSK Jail break Serfdom log – 19/07/2010 July 19, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 5:20 pm



Wills says : Very interesting comment below by ANON on Adam Smith and economics right now, today.

I remember years ago when I was at College studying Economics and being introduced to the writings of Adam Smith and his notion of this “invisible hand” and how it acts as a force to return markets to equilibrium, to where demand meets supply, or to what some people call “the market clearing price”. It was pointed out to me back then, by a wiley old Professor, that while Smith’s idea was grand in theory, in practice it will never be allowed to work as most of the power brokers who like to control societies would not be willing to relinquish their control to some “invisible hand” as it might move the market in a direction that does not suit their objectives.
It was in the context of the above that I was reflecting on where Ireland’s market is at the moment, and indeed where it was at before the bust. Now I know that people have strong opinions at the moment on whether a Keynesian stimulus of some sort should be employed, or whether a more “Austrian school” approach of free market or neo-liberalism is the best approach. If we could leave the debate on the medicine that’s needed to one side for the moment and look at the patient and see if we can determine what exactly are the ailments that require attention, prioritise them so that we can have complete recovery as quickly as we can.


BSK Jail break serfdom log – 17/07/2010 July 17, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 2:02 pm


BY: ANONCapitalism will continue to generate both form and content for as long as we can manage to keep it from collapsing under the weight of its own metastasizing “progress”.



The “dreams within dreams in the service of corporate espionage” story – for all its apparent complexity – is really a fairly simple framework upon which Nolan hangs some much deeper, though in a way no less simple, themes. Ideas about the importance of living in the real present, connecting with other humans, and choosing one’s own path instead of slavishly (not to mention self- and other- destructively) adhering to the (real or imagined) expectations of others.

The fact that Saito is paying Cobb’s crew to break up his corporate competitor’s empire could have resulted in Saito being characterized as a coldly mercenary capitalist “anti-villain”. But it just isn’t so, and if it were then it would have wrecked the film. The truth here is that while there are antagonists in the film who proliferate like so many Matrix Agents Smith, there really is no villain.

It’s an FX-driven summer blockbuster that doesn’t have a villain.

The audacity of that alone is stunning to me.

The closest thing “Inception” has to a villain, in fact, is nothing but a phantom.

And that leads to an important question that can be extrapolated from “Inception”: what if personified “villains” are just figments of our imagination at best, or at worst are worn out and even culturally damaging narrative tropes that trick us en masse into thinking that “if we could just eliminate all the ‘bad’ people, then the world would be heaven on earth?”

In spite of its star-powered Hollywood industrial product blockbuster summer appeal, “Inception” has at its heart the vigorously indie idea that we are all masters of our own destiny: architects of our own dreams, if you will. We are only beholden to the thoughts, dreams, and accomplishments of others to the extent that we allow ourselves to be.

And that notion of “the accomplishments of others” then leads us right into the labyrinthine maze of global empire that capitalism has built all around us…

The dream world that global capitalism has created with its tendencies toward monopolistic business practices and rapacious conquest by hyper-urbanism is woven beautifully into every frame of the film. These images even border on a perverse kind of sublimity. Lazy floating helicopter shots of sprawling global metropolises are now beautiful to us. This is what we have come to.

It will crumble under the weight of its own fundamental instability (un-“sustainability”).
And we who are its inhabitants who have become mere projections of some collective subconscious will increasingly come forth from our slumbering alienation to defend the core being of that collective subconscious.

In the end we will stand amidst whatever is left with our families, our friends, and our memories to treasure.

NOTE: Wills says, above is an excellent analysis on the concept ‘mankind stuck in an evolutionary slumber’.



How Cowen took a €440bn shot in dark – Irish, Business –


BSK Jail break serfdom log – 14/07/2010 July 14, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 2:20 pm




The hoopla by Western world governments that we have turn a corner are absolute spoofery .The so called developed nations in this world are so indebted it’s frightening .We started with a banking crisis ,now we have a sovereign debt crisis .The Government bailed out the banks ,then the banks bailed out the government buying their bonds ,its absolutely hilarious one bankrupt outfit bailing out the other and now we have the ECB printing billions in useless Euros.

We may Have deflation now but when this money starts to filter through we will see inflation ,raised interest rates ,lower wages and stagnation in pay .This will happen and when it does Ireland may think it’s hard now ,the world of pain is going to be terrible for ordinary working people.

What gives any government a right to sell it’s people and generations into bondage, serfdom, slavery using government bonds.

They have no right and I hope the young people of this country that go into to politics repudiate the debt that these parasites have created and allow the people of this country to enjoy freedom and happiness again.


BSK Jail break serfdom log – 13/07/2010 July 13, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 1:18 pm



The hidden economics of Pirates.

Leeson, P.T.: The Invisible Hook: The Hidden Economics of Pirates.



Main points of Honohan report – The Irish Times – Wed, Jun 09, 2010

Main points of Regling/Watson report – The Irish Times – Wed, Jun 09, 2010



Harvard professor and prolific author Niall Ferguson opened the 2010 Aspen Ideas Festival Monday with a stark warning about the increasing prospect of the American “empire” suddenly collapsing due to the country’s rising debt level.

“I think this is a problem that is going to go live really soon,” Ferguson said. “In that sense, I mean within the next two years. Because the whole thing, fiscally and other ways, is very near the edge of chaos. And we’ve seen already in Greece what happens when the bond market loses faith in your fiscal policy.”

Ferguson said empires — such as the former Soviet Union and the Roman empire — can collapse quite quickly and the tipping point is often when the cost of servicing an empire’s debt is larger than the cost of its defense budget.

“That has not been the case I think at any point in U.S. history,” Ferguson said. “It will be the case in the next five years.”

Ferguson was conscious of opening the Ideas Festival on such a stark note.

“Walter Isaacson, the leader of this great institution said, ‘Don’t be too dark!,’” Ferguson said.

The affable British scholar tried to keep it light. He used a stage whisper to tell the Aspen Institute audience, “I know you’re not comfortable with the word ‘empire,’ especially just after the Fourth of July, but you are the Redcoats now.”

He said the U.S. is now deeply in the red as a country because of a combination of the Great Recession, the resulting federal stimulus and financial bailout programs, two wars, the Bush tax cuts, and a growth in social entitlement programs.

And economic debt can lead to a sudden loss of military power and global respect, Ferguson said.

“By combating our crisis of private debt with an extraordinary expansion of public debt, we inevitably are going to reduce the resources available for national security in the years ahead,” Ferguson said. “Because as a debt grows, so the interest payments you have to make on it grow, even if interest rates stay low. And on current projections, the federal debt is going to be absorbing around 20 percent — a fifth of all the taxes you pay — within just a few years

Historian warns of sudden collapse of American ‘empire’ | Aspen Daily News Online


BSK Jail break serfdom log – 12/07/2010 July 12, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 6:01 pm



Frank Daly, the chairman of Nama, is hardly the first guy you would invite to a wife-swapping orgy or to a drunken dinner party.

Nor would the former taxman draw a crowd to hear his speeches at the dreary lunches he has chosen to address.

In short, poor Frank is a worthy guy, honest as the Almighty, clever, efficient — and dull as ditchwater. For instance, despite his high business status, he is unlikely ever to author a piece for these pages. He has the potential to switch an entire generation of Sindo readers over to the joys of the Observer or the Guardian for titillation.

Frank has sometimes appeared as a witness at Oireachtas committees. He looks deeply uncomfortable in front of the cameras. He attended the Leinster House dungeons when he was a director of Anglo, nearly sending the assembled TDs and senators to sleep on the spot.

That is precisely why Frank is in the chair at Nama.

When Minister for Finance Brian Lenihan was picking the top man at Nama, he did not select the usual political hack who hardly knows his financial posterior from his elbow. He resisted the temptation to appoint a colourful Fianna Failer who would cut a dash in the media.

The last thing needed at Nama was colour or charisma. And it got neither when one of the dullest men in Ireland took the job. Nama was to be the personification of Frank.

For months Frank ran from the press, refusing to return calls, hiding behind public relations spinners while quietly doing the Nama gig in the background.

Shane Ross: Daly trapped in bankers’ sting – Shane Ross, Columnists –



The big news out of Europe this morning, and the reason for the drag on the euro is an article in Der Spiegel, “Merkel’s rules for bankruptcy” according to which Germany is now actively (and very secretly) pushing for a plan outlining a set of insolvency rules, which would require that private investors bear a portion of the rescue burden, and much more importantly, would see at least a partial give up in state sovereignty, where a new insolvency trustee (the “Berlin Club”, which we fail to see at least for now, how it differs from the Paris Club) would take implicit control over and override a default nation’s treasury, in essence pushing the bankrupt country into a form of Feudal vassal state-cum-reparations subservience. Welcome to financial warfare in the post-globalization period.

From Spiegel:

The first national bankruptcy on European soil in decades was only prevented because the remaining countries in the euro zone came to the aid of their faltering fellow member with billions in loans and loan guarantees. The chancellor, determined not to allow the Greek debacle to be repeated elsewhere, proposed the establishment of a procedure to ensure “orderly national bankruptcies.” The German chancellor hoped that the plan would create “an important incentive for the euro-zone members to keep their budgets under control.”

Finance Minister Wolfgang Schäuble, in complete agreement with Merkel, said: “We have to think about how, in an extreme situation, member states could become insolvent in an orderly fashion without threatening the euro zone as a whole.”

Berlin Pushing For European Bankruptcy Framework With Provision For State Sovereignty Give Up | zero hedge



I believe that misconceptions play a large role in shaping history, and the euro crisis is a case in point.

Let me start my analysis with the previous crisis, the bankruptcy of Lehman Brothers. In the week following September 15, 2008, global financial markets actually broke down and by the end of the week they had to be put on artificial life support. The life support consisted of substituting sovereign credit—backed by the financial resources of the state—for the credit of financial institutions that had ceased to be acceptable to counterparties.

As Mervyn King of the Bank of England explained, the authorities had to do in the short term the exact opposite of what was needed in the long term: they had to pump in a lot of credit, to replace the credit that had disappeared, and thereby reinforce the excess credit and leverage that had caused the crisis in the first place. Only in the longer term, when the crisis had subsided, could they drain the credit and reestablish macroeconomic balance.

This required a delicate two-phase maneuver—just as when a car is skidding, first you have to turn it in the direction of the skid and only when you have regained control can you correct course. The first phase of the maneuver was successfully accomplished—a collapse has been averted. But the underlying causes have not been removed and they surfaced again when the financial markets started questioning the creditworthiness of sovereign debt. That is when the euro took center stage because of a structural weakness in its constitution. But we are dealing with a worldwide phenomenon, so the current situation is a direct consequence of the crash of 2008. The second phase of the maneuver—getting the economy on a new, better course—is running into difficulties.

The Crisis & the Euro | The New York Review of Books


BSK’s Jail break serfdom log July 9, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 8:59 pm


Ariadne’s Thread



If movies are shared dreams, then Christopher Nolan is surely one of Hollywood’s most inventive dreamers, given the evidence of his commandingly clever “Inception.” Applying a vivid sense of procedural detail to a fiendishly intricate yarn set in the labyrinth of the subconscious, the writer-director has devised a heist thriller for surrealists, a Jungian’s “Rififi,” that challenges viewers to sift through multiple layers of (un)reality. As such, it’s a conceptual tour de force unlikely to rank with Batman at the B.O., though post-“Dark Knight” anticipation and Leonardo DiCaprio should still position it as one of the summer’s hottest, classiest tickets.

As a non-franchise follow-up to the enormous success of “The Dark Knight,” this long-gestating project reps something of a gamble for Warner Bros. at a time when sophisticated original entertainments are neither as common nor as bankable as they once were. Availing himself of the resources that come with a studio’s confidence, Nolan places mind-bending visual effects and a top-flight cast in service of a boldly cerebral vision that demands, and rewards, the utmost attention. Even when its ambition occasionally outstrips its execution, “Inception” tosses off more ideas and fires on more cylinders than most blockbusters would have the nerve to attempt.

Our guide to this world of high-stakes corporate espionage is Dom Cobb (DiCaprio), an “extractor” paid to invade the dreams of various titans of industry and steal their top-secret ideas. Cobb plunders the psyche with practiced skill, though he’s increasingly haunted by the memory of his late wife, Mal (Marion Cotillard), who has a nasty habit of showing up in his subconscious and wreaking havoc on his missions.

That’s what happens during a dream-raid on wealthy businessman Saito (Ken Watanabe), who is in fact merely auditioning Cobb for a far riskier job. The target is Saito’s future rival, billionaire heir Robert Fischer Jr. (Cillian Murphy), and the goal is not to steal an idea but to plant one — the “inception” of the title — that will lead to the dissolution of Fischer’s empire.

In Nolan’s hands, this ingenious conceit becomes no more implausible than that of a caped crimefighter, as the writer-director grounds his flight of fancy with precise methodology and an architect’s attention to detail. Indeed, Cobb retains an actual architect, Ariadne (Ellen Page), and teaches her how to mentally construct every street, building and room in the artificial world (essential if the dreamer is to be deceived) in a series of visually playful scenes whose trompe l’oeil quality brings Magritte and M.C. Escher to mind.

In classic heist-movie tradition, various brainiac specialists round out Cobb’s dream team: Arthur (Joseph Gordon-Levitt), his longtime organizer; Eames (“Bronson’s” Tom Hardy), a “forger” who can shapeshift at will; and Yusuf (Dileep Rao), who supplies the powerful sedative that pulls Fischer and Cobb’s gang into a collective stupor.

As the motley crew comes together, so does our understanding of this strange, mercurial world (which owes something to the virtual-reality dystopia of “The Matrix”) and the rules by which it operates: the consequences of dying in a dream; the nature of dream time vs. real time; and the perils of layering ever more elaborate dreams within dreams. Numerous laws and paradoxes come into play once Cobb and Co. plunge down the rabbit-hole, at which point “Inception” takes on dizzying levels of complexity as the characters navigate the chambers and antechambers of Fischer’s mind.

It’s heady, brain-tickling stuff, and like the spinning top that serves as a key plot device, it seems forever on the brink of toppling over, especially toward the end of the nearly 2 1/2-hour running time (editor Lee Smith has his hands full, at one point cutting feverishly among four parallel lines of action). The sheer outlandishness of the premise may open it up to some narrative nitpicking — why do these dreams, for instance, so closely resemble action movies? — and attentive viewers will have a grand time “aha!”-ing at certain points and poking holes in others.

But even when questions arise, one so completely senses a guiding intelligence at the helm that the effect is stimulating rather than confusing. Never one to strand the viewer in a maze, Nolan remains a few steps ahead, keeping total comprehension just out of reach but always in view; like a mechanical rabbit on a racetrack, he encourages us to keep up. As dreams go, “Inception” is exceptionally lucid, especially compared with the more free-associative nightmare logic of David Lynch’s “Mulholland Dr.” or “Inland Empire.” Those were movies to get lost in; here, it pays to stay focused.

Like Nolan’s 2001 indie breakthrough, “Memento,” the film toys with themes such as the blurry line between perception and reality, the insidious nature of ideas, and the human capacity for self-delusion; significantly, it also focuses on an antihero captive to the memory of his dead wife. Because the picture privileges the mind over the heart, Cobb’s unresolved guilt, intended as the story’s tragic center, doesn’t resonate as powerfully as it should, though the actors certainly give it their all: Cotillard is a presence both sultry and menacing, and DiCaprio anchors the film confidently, if less forcefully than he did the recent “Shutter Island” (in which he also played a widower at the mercy of dark visions).

Supporting roles are thinly written but memorably inhabited: Gordon-Levitt cuts a dashing figure; Hardy tears into his smartass supporting role with lip-smacking gusto; Watanabe brings elegance and gravity to his corporate raider; and Murphy plays the unsuspecting dreamer with poignant reserve. Page’s repartee with DiCaprio could have been sharper in places, but the appealingly plucky actress makes Ariadne an ideal stand-in for the viewer.

Shot across four continents by Nolan’s regular d.p., Wally Pfister, and outfitted by production designer Guy Hendrix Dyas, “Inception” is easily the director’s most visually unbridled work; its canvas stretches from the skyscrapers of Tokyo to the bazaars of Tangiers, from an amber-lit hotel corridor to a snowy mountain compound (a setpiece that plays like an homage to “On Her Majesty’s Secret Service”). Pic has arresting effects and images to spare, such as the sight of Paris folding in on itself like a book or Gordon-Levitt’s Arthur performing a fight scene in zero gravity (the explanation for which is even more dazzling).

Hans Zimmer’s surging score trumpets danger and excitement with near-operatic fervor, at times suggesting the world’s most portentous foghorn, while Edith Piaf’s recording of “Non, je ne regrette rien” serves as an ironic motif (and sets up a nice inside joke with “La Vie en rose” star Cotillard).

If “Inception” is a metaphysical puzzle, it’s also a metaphorical one: It’s hard not to draw connections between Cobb’s dream-weaving and Nolan’s filmmaking — an activity devoted to constructing a simulacrum of reality, intended to seduce us, mess with our heads and leave a lasting impression. Mission accomplished