Looting The Public Purse Leads To Bad Things

ΩΩWorld finances are clearly showing us that the present global credit bubble is deflating and this means we will have more, not less, depression a la Japan.  Elizabeth Warren, one of the few good people in DC, is trying to force Goldman Sachs to tell her who are their counterparties in hedge deals.  Meanwhile, I notice that the issue of illegal aliens continues to roil the public debate as it should.  And our NATO allies are all going broke so they are refusing to fund military adventures but Hil Clinton wants us to give SE Asian countries like Vietnam, cover by our military umbrella?  Talk about insane.


Goldman Sachs Said to Give AIG-Hedging List to Panels (Update1) – Bloomberg.com

— Goldman Sachs Group Inc. told U.S. investigators which counterparties it used to hedge the risk that American International Group Inc. would fail, according to three people with knowledge of the matter.


The list was sought by panels reviewing the beneficiaries of New York-based AIG’s $182.3 billion government bailout, said the people, who declined to be identified because the information is private. Goldman Sachs, which received $12.9 billion after the 2008 rescue tied to contracts with the insurer, has said it didn’t need AIG to be rescued because it was hedged against the firm’s failure.


“We want to know the identity of those parties, partly just to know where American taxpayer dollars went, but partly to assess Goldman’s claim,” said Elizabeth Warren, chairman of the Congressional Oversight Panel, in a Senate hearing this week. “We cannot evaluate the credibility of their claim that they had nothing at stake one way or the other in the AIG bailout.”


ΩΩAnd thus begins some unentangling of the many tentacles of Goldman Sach’s derivative swap dealing business.  That is, instead of being ‘covered’ they were naked but instead of getting direct help from the US taxpayers, they got it secondhand.  The collapse of Bear Stearns didn’t faze GS due to that being a rival in the derivatives swap markets, one to be chopped up and eaten.


ΩΩBut it looks like the Lehman Goes Bankrupt, Bank of America Buys Merrill Lynch disaster Sept. 2008 was a linchpin moment.  That is, this was one of the key parts of the fraudulent hedge swap derivatives market and it exposed the entire system as a total fake, that is, no one was really hedged at all, anywhere on earth.  They were all in the same leaking boat that sprung a leak with the crash of Bear Stearns.


ΩΩThe U.S. take over of AIG in September, 2008, cost us all $85 Billion and forced all the major Central Banks to inject cash as credit dried up.  Since then, we now own 80% of AIG which means we, not the biggest, richest bankers on earth, must settle all hedges based on AIG-written CDO and OTC deals.  That is, we are stuck on the hook here.  All the goofy, offshore, tax evading, political-bribing big international investment bankers now can force us to pay up on all of their damn derivative hedge deals.


ΩΩI applaud Elizabeth Warren in her attempts at getting these creeps to give her vital information, after all, we are now the ones who have to deal with these odious hedging deals and I want every penny of the overhead costs whacked off of all the executives of Goldman Sachs.  Hell, put them in Madoff’s cell.  He needs company and they can form a minyan on Friday evenings.


ΩΩThe non-Jewish guys in this fraud can move into a Mafia boss cell.  There are many to choose from.  The infamous Darth Vader bankrobber story is amusing in that he uses a straightaway method to steal money.   The petty robbers are penny ante and all go to jail while the biggest robbers corrupt the entire system and get away with murder.  So if they catch the Darth Vader robber, put him in a cell with the CEOs of Goldman Sachs and JP Morgan.  Have a nice day!


ΩΩMeanwhile, in the real world, China forges forwards with the 50 Year Plan to take over all US industrial production systems and control the US by being our bankers:  Rutgers’ Chinese Solar Panels Show Clean-Energy Shift (Update2) – Bloomberg.com

At Rutgers University in New Jersey, 7,600 panels convert sunlight into electricity, saving some $200,000 in energy costs this year in the biggest solar-power experiment at a U.S. college.


Yingli Green Energy Holding Co., China’s second-largest solar-panel maker, supplied the $10 million project. Yingli is one of several Chinese manufacturers that have slashed costs to reduce global prices for solar modules by about 50 percent in two years. The drive made them more affordable for buyers from Rutgers to Wal-Mart Stores Inc., the biggest U.S. retailer.


“It’s all about economics,” said Chief Executive Officer Al Bucknam of SunDurance Energy, the South Plainfield, New Jersey, installer that picked Yingli over Western competitors on price and helped sell the deal to Rutgers as a money-saver.


ΩΩOnce upon a time, when my father was President Jimmy Carter’s alternative energy head, he sold the President on the idea that the US would see a flowering of US solar panel production which would cut our reliance on foreign oil and thus, balance our trade deficit which began to soar after we began importing foreign oil.  Kill two birds with one stone!  Jimmy Carter then sent my dad to Beijing at the request of the Chinese where he explained the exact same thing to them.


ΩΩThey were wildly enthusiastic about it and set to work, busy little bees as they are, the Chinese listen to my family for some reason!…HAHAHA.  Anyway, they did it and then began ruthlessly reducing the overhead cost of producing these solar panels and as per their plan, will dominate and control world solar panel production.  Incidentally, my dad went to Germany with the same story and today, Germany leads in the solar energy sector.  Basically, the solar panel production markets is a head to  head battle between Germany and China.  The US, as usual, is locked out.  So we import oceans of expensive foreign oil AND we import our solar panels, too.  A lose/lose situation.


ΩΩInstead of competing with China and Germany, the US is defending Germany while Germany scrambles to cut its military budget drastically (as is all of NATO) the US has decided the best way to win the struggle for global power is to go around menacing the rising Chinese empire as well as Russia.  This is a foolish thing that will end poorly.


U.S. Challenges China on Island Chain – NYTimes.com

Opening a new source of potential friction with China, the United States said on Friday that it was ready to step into a tangled dispute between China and its smaller Asian neighbors over a string of strategically sensitive islands in the South China Sea.


Secretary of State Hillary Rodham Clinton, speaking in Vietnam at a meeting of the Association of Southeast Asian Nation, or Asean, said, “The United States has a national interest in freedom of navigation, open access to Asia’s maritime commons and respect for international law in the South China Sea.”


ΩΩSo, while running rampant war games right on the front doorstep of a deranged North Korea, we go trotting off to SE Asia to stick our noses into the affairs of various countries down there that kicked us out years ago and who would dearly love to force us to eat up all the costs of protecting themselves while they poke the Chinese Dragon in the eye?  Talk about insane!


ΩΩOf course, to delusional militarists in the US State Department and Pentagon, the more wars, the more money and the more power.  So what, if this is bankrupting America?  There is no glory in patrolling the Gila Desert in Arizona!  Tons of glory, killing people half way around the world.  Alas for Ms. Clinton, the ASEAN countries are simply using the US as a stick to get a better deal from China.  They have zero intention of letting us rule them via proxies.


BBC News – Serbia rejects UN legal ruling on Kosovo’s secession

The decision by the International Court of Justice (ICJ) in The Hague opens up the possibility that Serbia will fight in the UN General Assembly to solve the dispute through negotiations, the BBC’s Mark Lowen reports from Belgrade.


Other countries facing their own secessionist problems, from Spain to China, may view the result with concern, our correspondent notes.


“Serbia will never recognise the unilaterally proclaimed independence of Kosovo,” Serbian President Boris Tadic told reporters in Belgrade after the ruling.


ΩΩMight makes right.  The US supports ‘freedom movements’ so long as they are launched against commie nations or Muslim powers.  Case in point is China: there isn’t a ‘freedom movement’ we don’t totally love and wish to succeed.  But all hell breaks loose if the wrong people try this!  The Palestinians are treated like sub-humans and if they resist, the US crushes them under foot until nothing is left.  Just yesterday, the Zionists funded by the US taxpayers, annihilated yet another poor Palestinian community on the West Bank for ‘security reasons’.  That is, there has to be this extensive no-man’s land between totally illegal Israeli Jewish enclaves in the West Bank and the natives.


ΩΩThe US protects Kosovo and gives them money and military protection as well as cover in the UN.  The US does the exact opposite for the natives of Palestine. Arab guilty of rape after consensual sex with Jew | World news | The Guardian: a typical racist ruling in Israel.  This is exactly how the Jim Crow laws worked in the US before becoming illegal thanks to the Civil Rights Act.  Before the Holocaust, the Nazi sex laws were EXACTLY like this!  If one grandparent was a ‘Jew’ then you couldn’t have sex with the Master Race!  Eventually, anyone who had even just one Jewish grandparent was put into slave and then death camps.


ΩΩThe urge to imitate the Nazis in every possible particular is troubling so the Jews fix this by denouncing anyone who notices this as ‘anti-semitic’.  But the sad truth is, the Nazis are now Jews.  This all leads me back to some messy things.  One of which is, the flood of illegal aliens is bad in many ways.  The problem facing Palestine is the flood of aliens who are legalized while the natives are denied even the most basic civil rights and the US struggles with this concept, too.  And can’t make up our collective minds about this matter.


No Visa, No School, Many New York Districts Say – NYTimes.com

Three decades after the Supreme Court ruled that immigration violations cannot be used as a basis to deny children equal access to a public school education, one in five school districts in New York State is routinely requiring a child’s immigration papers as a prerequisite to enrollment, or asking parents for information that only lawful immigrants can provide….But the Education Department has resisted doing anything to address the issue directly, in contrast with several other states — including Maryland, Nebraska and New Jersey — where education officials have taken strong steps in recent years to halt similar practices….


…the 1982 Supreme Court decision, Plyler v. Doe:  That ruling, considered by legal scholars to be a high-water mark of immigrant rights, held that under the Constitution, all children who live in a district must be given equal access to a public education from kindergarten through 12th grade, regardless of whether they entered or stayed in the country in violation of federal immigration rules.


To refuse them, Justice Harry A. Blackmun warned in his concurring opinion, “raises the specter of a permanent caste of undocumented resident aliens, encouraged by some to remain here as a source of cheap labor,” yet denied the basic benefits available to others.


ΩΩMillions of illegal alien children don’t simply go to school and learn alongside the natives.  They are foreigners and thus, have a poor grasp of our language and often come from peasant backgrounds which are not very conductive towards educational skills.  If the US cut our ‘Defense’ (sic) budget to a reasonable size, say, the same proportion as Europe’s budgets, we could have the Federal Government fund the education of not only illegal alien children who shouldn’t be here but also our OWN children!  An amazing thought, that!


ΩΩSince schools are funded by property owners based on the ancient ‘farmers are the vast majority of workers’ system of our earliest schools, there is tremendous incentive for honest citizens to NOT pay for illegal aliens who are allowed to cross into our country at will while the US government refuses to defend our own home base.  Thanks to a thoroughly corrupt Congress and a US media warmongering system, we are egged into fighting here, there and everywhere on earth while it is like pulling teeth to force our own government to put up a measly 1,500 troops on our own endangered borders!


ΩΩWe have over 50,000 protecting Iraq!  And they hate us and we can’t roam the streets there without being killed by them since we are basically illegal aliens there!  Bring the troops home and have them six deep lined up along our threatened borders!  End of story.  But no, we are supposed to shell out our own money to pay for this flood of often illiterate foreign children.


Once a Leader, U.S. Lags in College Degrees – NYTimes.com

The United States used to lead the world in the number of 25- to 34-year-olds with college degrees. Now it ranks 12th among 36 developed nations…Canada now leads the world in educational attainment, with about 56 percent of its young adults having earned at least associate’s degrees in 2007, compared with only 40 percent of those in the United States….


… While almost 70 percent of high school graduates in the United States enroll in college within two years of graduating, only about 57 percent of students who enroll in a bachelor’s degree program graduate within six years, and fewer than 25 percent of students who begin at a community college graduate with an associate’s degree within three years.


The problem is even worse for low-income students and minorities: only 30 percent of African-Americans ages 25-34, and less than 20 percent of Latinos in that age group, have an associate’s degree or higher.


ΩΩThe drop out rate of minorities and Hispanics is very high.  The prison population of both is also very high.  In many cities flooded with people who have low expectations to graduate from high school or even finish junior high means most parents who have any desire to protect their own children must send them to private schools.


ΩΩPrivate schools in the major cities are mushrooming in numbers.  When I lived in NYC, I tried sending my first child to a ‘good’ public school, not the ‘bad’ one in my neighborhood, the one that had drug shoot-outs in the playground.  Even so, I had to pull her out and enroll her in a private school.  It was hazardous for her physical well being.  Meanwhile, I paid school taxes.


ΩΩThis is a HUGE problem which is being dealt with by having a public school system that is for a falling lower class with few expectations running on property taxes while everyone with any income or property must pay yet a second time for a real school. This dual system is set to TOTAL FAILURE.  It is a catastrophe that will only grow worse and worse.  A great way to make this collapse happen is to fill the public schools with children whose parents are criminals.


ΩΩAmericans are worried about racism yet we are creating entire school systems that are most segregated than under Jim Crow due to the collapse in lower working class wages and working conditions which also was created by the flood of illegal aliens competing at the bottom against blacks and other minorities already here.  Pretending this won’t lead to a very bad end is silly.  This will end badly.  And must be resolved in some fashion.


ΩΩOf course, patrolling our borders aggressively is step one in stopping this dangerous dynamic.  Step two is to undo the dual citizenship business.  People who hold two passports and vote in two elections and fight in foreign armies like the IDF must make a final choice, which country is their home and toss out the other allegiance.  Otherwise, we will become Kosovo.  What we wish to do to the Chinese will happen to us.


ΩΩThe Retirement Nightmare: Half of Americans Have Less Than $2,000 Banked for Their Golden Years | Economy | AlterNet:  This is the other showdown.  The US retirees often are homeowners and are the major source of school taxes.  As the baby boom retires, they will NOT want to pay for a flood of foreign language illegal aliens needing special schools.  Period.  There is no political way for this to happen.  One by one, people will vote down school funding to as close to zero as humanly possible and since more and more families must use private schools, anyway, they, too, will vote to end public school funds.


ΩΩThis is INEVITABLE unless we change course.  The only way I see is to fund both better security on our borders and to defund the Pentagon and give all the money to the schools.  And hell will freeze over before that happens.


CA city seeks resignations of high-paid officials | Long Island Press

The City Council in this small, blue-collar suburb of Los Angeles intends to ask three administrators whose salaries total more than $1.6 million to resign Thursday or face possible firing.


The officials include Chief Administrative Officer Robert Rizzo, who earns $787,637 a year – nearly twice the pay of President Barack Obama – for overseeing one of the poorest towns in Los Angeles County.


The others are Assistant City Manager Angela Spaccia, who makes $376,288 a year, and Police Chief Randy Adams, whose annual salary of $457,000 is 50 percent more than that of Los Angeles Police Chief Charlie Beck.


ΩΩI got that picture from Google maps.  Tiny, little working class cottages on tiny postage-stamp lots.  The housing bubble was immense in LA.  These hovels went for 10X their true value.  Thanks to California tax laws, if you don’t buy during a bubble, the price of the school and city taxes are set at a much lower level than if you buy during a bubble.  So the funny tax money funds were abused by a clique running this small community and ruthlessly looted.  Pretty much along the lines of the Pentagon, Congress, Goldman Sachs, etc: looting is the sole business of anyone in public or private.  Get the money and run for the hills.


ΩΩOf course, on top of all this, we are retiring with virtually no savings.  The poor taxpayers in this suburb of LA were funding the lavish lifestyles of the ruling clique while being crushed by onerous taxes.  If The collapse of civic duty is a key element in the death of all empires.  When everyone from top to bottom is out to line their own purses, we get a total social collapse.  If 50% of Americans have zero savings for retirement, this is a catastrophe.  We can’t have this and have immense school tax obligations!  Or wild spending governments running up huge debts.


Economy set for triple whammy, admits Bank chief – Business News, Business – The Independent

The British economy faces a triple whammy of higher inflation, lower growth and rising unemployment, according to one of the Bank of England’s most senior policy makers. Living standards over the next few years will rise only “minimally”.


In an interview with The Independent, the Bank’s chief economist, Spencer Dale, said that he did not expect inflation to return to its 2 per cent official target before the end of next year, about a year later than previously hoped, partly because of the hike in VAT to 20 per cent from January announced in the Budget.


ΩΩA 20% sales tax???  Wow.  I thought our dear, detested NY state sales tax of 8% was obscene!  My former father-in-law graduated with a math major degree in 1932 just in time for the Great Depression.  His first job was to help configure the EMERGENCY 2% NY sales tax.  He loved to say, ‘All emergencies are forever.  And if it is a tax, it is really forever and will only go up.’  The futile tax cuts were designed deliberately to the the least good for the working class.  They need relief from school taxes, not income taxes.


Britain no longer has the cash to defend itself from every threat, says Liam Fox – Telegraph

Dr Fox’s frank admission also casts doubt on the future of the 25,000 troops currently stationed in Germany. The Defence Secretary has previously said that he hoped to withdraw them at some point, leaving Britain without a presence in the country for the first time since 1945.


ΩΩNATO will collapse.  Of course, the US will prop it up and like a swimmer carrying ten people who are drowning and who refuse to doggy paddle, themselves, we will be pulled under especially since we are swimming with several entities hanging on which we beat up and brutalized and ordered them to swim with us.  These people are gleefully trying to drown us and are succeeding.


ΩΩSo we need for Germany or Britain to doggy paddle for us and help us keep the Afghani and Iraqi swimmers afloat and both are lapsing into passivity so we struggle onwards.  Time to take on Vietnam, Cambodia and other nations who don’t want to swim but would love to hike a ride on us, too!  Glub, glub, blub, down under we go.

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Filed under .diplomacy, .money matters, Politics, war and peace

53 responses to “Looting The Public Purse Leads To Bad Things

  1. wb

    Ha, rats planning to leave the ship ?

    “We have a retreat that’s right on the Quebec border. We own 18 miles on the border, so we can cross. Anytime we want to, we can get away.”


  2. red ink

    Newark NJ stops buying toilet paper etc
    . . . best option for Newark says web
    ‘go bankrupt.” Miami, LA, Harrisberg
    mull bankruptcy. Maywood CA
    contracts w/ LA for services (let go
    all city workers).

  3. emsnews

    The doom and gloom of many blogs is all mixed in with ‘End of Times’ theology, that is, we are prey to this sort of feeling right now due to our own empire going on the rocks.

    But lo and behold, not all are doing this! The real problem is, we are seeing a changing of the guard and already the merchant ships of China roam the Seven Seas, we have virtually NO merchant marine left, only the navy which is hideously expensive whereas the Chinese ships are immensely profitable.

    This ‘gloom and doom’ stuff is quite stupid. We are passively sitting home, waiting for the axe to fall rather than noticing that we can control events rather easily.

    That is, via simple protectionism. This lecture I give so often falls on deaf ears because people don’t want to be protected, they want to have their cake and eat it too.

    This is impossible. So my advice, as always is, we can fix things but we have to first forget cheap foreign goods and above all, NO MORE OIL IMPORTS.

    I gave this lecture back in 1982 and every year since then. But the lure of easy borrowing caused us to ignore reality. Well, it is knocking and we better open the door and let logic come into the house and straighten us out.

  4. nah

    Since then, we now own 80% of AIG which means we, not the biggest, richest bankers on earth
    and fannie, freddie, the US congress, republicans, democrats, and every other stigma from here to Dallas

    So what, if this is bankrupting America? There is no glory in patrolling the Gila Desert in Arizona! Tons of glory, killing people half way around the world.
    what is up with not giving a rats ass about our own borders and the inherent break down of lawful citizenship that pours out of these kinds of problems
    for all the wants of the elite, the problems of the big/powerful states are just one more abhorent greed the Constitution allows for? the money is increasingly bullshit fraud wealth

  5. PLovering

    Y’all probably already know Voltaire’s prayer:

    (“I have never made but one prayer to God, a very short one: ‘O Lord, make my enemies ridiculous.’ And God granted it.”)

  6. PowerToThePeople

    The overpaid CA city manager was shamed into resigning.


    “20% sales tax”! How else ya gonna pay for health care for everyone? Everybody get used to higher taxes.

    More news up EMS’ alley: China official proclaims that the US is broke.


  7. emsnews

    Yes, I mentioned previously the Chinese rating dropping for both the US and UK. In return, we challenge China over some remote islands that are really none of our business.

  8. nah

    The federal budget deficit, which hit a record $1.4 trillion last year, will exceed that figure this year and again in 2011, the White House predicted Friday, providing fresh ammunition to Republicans who are hammering President Obama for all the red ink as they campaign to regain control of Congress in November.
    if we keep these deficits up for 5 years the dollar is going to be shit… owait… ??? … 2 more years and then back to zero or what
    ok the fraud is almost over everyone uh… prices are not based on class or position… just, just wait for alot of money cuz, uh… its comming, ok???

  9. nah

    no matter what happens its george bushes fault no no wait…. its the wars fault yeah ‘you betcha” gotcha MSM ostrich management internationalists

  10. nah

    i cant understand so
    wealth is not slavery… who sets these prices??? who decides what is production??? who decides what is taxable??? who decides what is law??? who decides what is regulation??? who decides what is taxable??? who decides what is wealth???

  11. nah

    we are literally taxing the poor/elderly of the future because the aristocracy does not want to be taxed to fight a war of their choosing
    let me be blunt… the farmers SHOULD get wealthier during crisis as most other assets are overpriced ‘including ADM’… subsidized oil is no excuse to pilfer the weak and promote ignorance
    not having a price structure destroys the hard earned trust this country has built a foundation on… treasury’s are collateral to a dollar market i.e. money
    but 1.4 trillion a year???? half the world lives on a dollar a DAY… the aristocracy of the USA is a disgrace… expect panic

  12. nah

    the US rich should TAKE ON DEBT TO PAY TAXES if they are so wealthy, powerful, and patriotic

  13. nah

    its disgusting watching the state hang on a limb’ with every wealthy internationalist waiting with ignorant purpose

  14. JT

    “Private schools in the major cities are mushrooming in numbers.”
    “Meanwhile, I paid school taxes.”

    Some things are very different here where I live. There are virtually no private schools.
    Every poll here says that people are willing to pay more taxes if money goes to children, to the care of the elderly or health care. Pretty much everything else people are willing to cut back on.

    Vocational schools and polytechnics are free for all too. So everybody gets some sort of education for free.

    “great deal of Finland’s educational success can be attributed to major reforms implemented in the 1970s. Those reforms included an emphasis on primary education for every single child in the country”

    “While “the U.S. holds teachers accountable for teaching” in Finland “they hold the students accountable for learning.””

    a good article:


    ELAINE: I agree about Finland. But of course, thanks to the fall of Russia, Finland gets to live under the expensive US military umbrella even if you are unaware of this. The umbrella is damn expensive and will be shredded pretty soon leaving all of Europe very exposed as will Japan and South Korea. It is all a matter of time.

  15. wb

    Some wisdom from Doris…

  16. Aussie

    @ Elaine
    Re: World finances are clearly showing us that the present global credit bubble is deflating ….

    Most of your observations are spot on.

    Unfortunately, the ruling elite responsible for the mess are in denial.
    The same denial and inability to adapt is affecting most western countries including Australia.
    The west, as happens to privileged and wealthy descendents, have become complacent and lost the will to adapt and solve challenges the old fashion way.

    The video below shows the impact of municipal bankruptcies on a US community.
    Newark Mayor Cory Booker and the city council are fighting over ways to balance a $70 million budget hole:

    The process of denial struck me as being analogous to the way our own political system in Australia spins its wheel generating contemporary tokenism and political theatre without substantive solutions at both national and state level.
    It’s all about tokenism and political theatre.

    Elaine’s observations is too confronting and inconvenient and simply too hard.

    Perhaps, there is a certain cosmic justice…..let countries that were victim claw to the top so everybody gets a chance to soak in the sunshine and dictate history’s narrative. The cycle turns once again?

  17. wb

    Ha, this is fun !


    Wouldn’t it be great to have sites like this for a whole lot of other flows, like arms industry, AIPAC, coal, gold, etc…

  18. nah

    by Francis Dollarhyde
    on Sat, 07/24/2010 – 09:55
    “speaking of chinese-US trade”

    Which would you rather be? The deadbeat? Or the person the deadbeat owes money?

    In the end they’re both broke. The deadbeat doesn’t have money, and the lender won’t get his money. The difference is, the deadbeat got to enjoy spending it.
    if its all so out in the open and noone in power cares and all the educated/informed participants are fully aware of this viewpoint. obviously the only thing that isnt a all out fraud is the way ELITE wealth LIKES to bargain with OTHER peoples money AS THOUGH it were their OWN… and taxes take away from the curtain of OZ
    everyone knows what is going on… the world is flooded with modern capabilities with no accountability… and the RICH INTERNATIONALISTS like it that way, its fucking fun


    ELAINE: Being a deadbeat to an ordinary bank is easy. Being one to the Mafia means death. The Chinese have nuclear bombs.

  19. wb

    The staggering stupidity of this idea makes me feel quite sick…

    From New Scientist :

    “Now a powerful group of scientists, venture capitalists and conservative think tanks is coalescing around the idea of reproducing this cooling effect by injecting sulphur dioxide into the stratosphere to counter climate change. Despite the enormity of what is being proposed – nothing less than seizing control of the climate – the public has been almost entirely excluded from the planning.

    Up to now, governments have been reluctant to talk about geoengineering. The reason is simple: apart from its unknown side effects, it would weaken resolve to reduce emissions.

    But it may soon prove an irresistible fix. This form of geoengineering is extremely attractive because its costs are estimated to be trivial compared to those of cutting carbon. It also gets powerful lobbies off governments’ backs, gives the green light to burning more coal, avoids the need to raise petrol taxes, permits yet more unrestrained growth and is no threat to consumer lifestyles.”



    ELAINE: The top goddess as far as earth is concerned, next to Lady Luck (she is Death and Wealth) is of course, dear old Mother Nature. And if we inject sulfur dioxide into the air, we…will see a major volcanic eruption, of course.

    What is particularly funny is, coal burning used to produce tons of sulfur dioxide but we cleaned this up! HAHAHA….sigh.

  20. Daliwood

    Elaine commented that “we can control events rather easily. That is, via simple protectionism,” and it reminded me of an article I was reading today. It contains a numbering of alarming statistics about the disappearance of the middle class in America, most of which I already knew but didn’t like seeing collecting into one depressing list:


    The author, although sympathetic to American workers who have lost their jobs to overseas slave labor, asks “After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job?”

    Wouldn’t a better question be, “What government in its right mind would allow the American manufacturing base to be gutted by free trade and outsourcing?”

  21. mike

    i read the panic numbers about retirements and thought i saw that it was posible that most entering or near the retirement age were in the number listed as having more than 50,000 in the bank earning today nearly nothing, the 50 percent you refer to in these panic numbers are under 40 years of age, i regretably fall in the panic class due to health /work/family/investment/ and housing problems…………..


    ELAINE: I feel your pain! It is very hard, during a cycle of declining wages vis a vis inflation (energy inflation since 1998 has been ferocious as well as food inflation!) and your struggles are typical and heart breaking.

    Saving for the future is hard work and was made ten times harder thanks to deficit spending, off shoring of jobs and the Hubbert Oil Peak.

  22. PLovering

    @wb, “The staggering stupidity of this idea makes me feel quite sick… From New Scientist” …

    Not to fear, SO2 injections into the stratosphere will never happen. Ever.

    It’s amazing what passes for science in many of our technical publications these days. Far too many editors forfeit integrity for a few pieces of silver.

    The author of this ridiculous piece is obviously floggen his new book.


  23. Speaking of Iraq [& internet censorship], try googling info about current conditions in Baghdad say, virtually nada. After 3-4 pages i found 2 half ass blogs. One revealing item and a major telltale, no power grid yet.


    ELAINE: You are correct, I just checked Google News. HAHAHA. Wait! http://www.staradvertiser.com/news/breaking/99121949.html: a soldier was killed in Iraq! Ooops.

  24. PLovering

    @Elaine, “The United States … ranks 12th among 36 developed nations in the number of 25- to 34-year-olds with college degrees.”

    Females account for 3 out of 5 college degrees in the US.

    Muslims will win the world without firing another shot.

  25. wb


    Thanks. Helpful link, that.

    Here’s an interesting lecture by Orlov from 1 year ago.

  26. ferridder

    PowerToThePeople: Re Rizzo:
    If I also could resign with a 700k/yr pension, I’d do so in a heartbeat.

  27. Claire Voyant

    Peoples’ savings earn them nearly nothing, and they’ve been tossed out the door like garbage by corporate interests who escape paying taxes, as Elaine has pointed out many times. Yet several Democraps have come forward supporting extension of the Bush tax cuts for the rich, citing ‘research’ that points to a relationship between lower marginal rates and higher GDP. This research has been thoroughly discredited, by the way, but it is still conveniently cited. For one thing, the GDP denominator assumes that money will always be spent in a way that is conducive to future growth — which our endless wars, militarized economy, unproductive trade policies and corrupt spending allocations would certainly disprove. Also, in looking at nations with a very low tax as % of GDP, one notices many nations that export oil among them (Saudi Arabia, 5.3%, United Arab Emirates, 1.4%) or benefit from offshoring/inept US trade policies (China = 17%, India = 17.7%), for example. Would any of these senators like to start promoting these nations’ way of life to the American public?

    Setting the GDP problem aside, however, if one looks at the trend between share of GDP paid by taxes from individuals, vs. taxes from corporations, the statistics unequivocally show the corporations have been benefitting disproportionately for decades. According to figures available from the Brookings Institution, in 1934 the share was roughly equal, with corporate taxes accounting for 53% of the contribution, individuals 47%. This relationship suddenly shifted after the war (1946 corp = 42%, individuals 58%) and has grown increasingly lopsided ever since. By 1966, corporate tax contributions accounted for only 35% of GDP with individual taxes = 65%; by 1976 the corporate contribution had fallen to 24%. Under Reagan (1986) it was only 15%. Under Clinton it increased a little to 21% (1996) and under Bush it was a little higher, to 26% in 2006. But last year, it fell to 13.5%, the lowest ever. This may have been anomalous, but it’s the last year for which non-projected data is available.

    Although some are unaware of just how pervasive and malign corporate influence has become, it’s painfully obvious to Elaine’s readers how corporations have managed to shift more and more of the tax burden on to individuals. (A world war helped)! As usual, corporate and media misdirection deflects popular rage from its proper targets. The Tea Party idiots have it wrong … government isn’t so much the problem (it’s a necessary evil, at least for people who like decent roads, schools, libraries, interstate highways and a police force). The problem is who the government is working for.

  28. wb

    “Elaine : …And if we inject sulfur dioxide into the air, we…will see a major volcanic eruption, of course. ”

    Erm, I don’t know of any evidence for volcanic eruptions being effected by atmosphere… cite needed ? 🙂

  29. emsnews

    This is called ‘joking’. That is, we are controlled by Lady Luck (random chance) and Mother Nature (all things that control our evolutionary world) and generally speaking, the minute humans manipulate something, something UNEXPECTED generally happens.

    Ancient people called this ‘hubris’. Anyway, there is a certain chance (don’t know the figures) that given any time frame, we will have a variety of volcanic eruptions. There is a fair chance that the minute we deliberately put sulfur dioxide into the air, a volcano will coincidentally do it, too. Random but real probability.

  30. wb

    Ah, thanks, ok, we agree then. 🙂

  31. wb

    PS. Btw, there are some hints, although not proven evidence, that global warming will increase volcanic activity, because there’s plenty of land mass that’s still rising, following the removal of the weight of glacial ice at the end of the last Ice Age, like a slow rebound, and fast melting of ice now, in some places, could be upsetting the tectonic plates and fault lines… I think there’s people researching that possibility at the moment.

  32. emsnews

    Yup, not only that, Antarctica and Greenland are finally going to be released from that prison of ice imposed on them back about 10 million years ago!

  33. JT

    “in some places, could be upsetting the tectonic plates and fault lines”

    😀 I love your enthusiasm.
    Greenland is losing a bit of ice but is not in an active zone.
    Antarctic is packing on more ice not melting.
    Here where I live the ground is rising faster than the sea level.
    Last earthquake we had was a magnitude 5 earthquake in 1882. Apparently some bricks fell from a few chimneys.

    Where are these “some places” that will have earthquakes.
    I´m sure that is the thing that will get us all in the end. 😀

  34. wb


    “I love your enthusiasm”

    Am I to take that as a compliment, JT ?

    Is it contagious 🙂

    I forget where I read about ice and volcanic activity. Someone asked if there might be problems from that, like the recent Icelandic volcano, and the answer seemed to be probably not, but nobody has really studied the detail, so it’s something of an open question.


    Greenland is losing ice at a terrifying rate.

    Some parts of Antarctic are also losing ice at a terrifying rate.

    Some parts of Antarctica are *gaining* ice, because of increased snowfall. That is what is to be expected from AGW.

    I keep on saying, the fact that there is global warming doesn’t mean *everywhere* gets hotter and drier. Only people who know nothing think that.

    Yes, Elaine, and when Greenland and Antarctica are released, say goodbye to New York, Shanghai, Holland, etc, etc. Do you know how much sea level will rise ?

    “The winter 2009/2010 will be remembered by many people in Europe (and not only there) as particularly cold, with lots of snow and ice. Not least because of the sustained cold, some began to wonder if global warming indeed was real.
    Such questioning of global warming based on a regional cold period of course neglects the crucial difference between weather and climate, with the former being the only thing that we as individuals will ever be able to experience first hand. A single regional cold spell has not a lot to do with climate – let alone with global climate. This becomes quite obvious if one instead considers the mean temperature of the entire globe during the last 12 months: this period was, according to the GISS data, the warmest 12-month period since the beginning of the records 130 years ago. ”



    ELAINE: Once upon a time there was this King Xerxes who tried to tell the sea to go back….seriously, anyone looking at the history of our dear oceans can clearly see they go up and down relative to the landmasses all the time. Humans insist on building right up to the very edge of the water and beyond so when it goes either up or down, we are screwed.

    Unfortunately, Mother Nature seems rather fond of volcanoes, tsunamis, changes in the ocean’s volume, solar output, etc. This drove the long, long, long history of Life on Earth from day one and will continue relentlessly until the sun explodes.

  35. JT

    1 Am I to take that as a compliment, JT ?
    2 Is it contagious?
    3 Do you know how much sea level will rise ?

    1 Yes.
    2 No it is not.
    3 7 meters. Do you have even a wague guess when? And how much more oil we have to burn in order to melt greenland and antarctica?

    I´m just saying. Stop and think for a while. :D.
    The estimate is 2-7 degrees warming by 2050. And at the moment it looks like 1 degree. It´s a pretty wide shot no?

    I just don´t want to see you waiting by the shore for the tsunami and then be disappointed.

  36. wb


    Sheesh, 2 – 7 deg. by 2050 ?! I hope not !

    You talking celsius or fahrenheit ?

    Here you can see the info as graphs


    Here you can watch the Arctic melt in real time


    I’m not bothered about tsunamis or sea level rise, I live 800ft. above sea level, on an old volcano, that’s been asleep for 30 million years. It’ll be cool if it becomes an island, it’ll be like having a moat 🙂

  37. JT

    Oh sorry is it 2-7 celsius by 2100 and looks like 1 at the moment? My bad.

    I watch the arctic melt and freeze weekly on:

    You mountain people are strange.
    My house is rising 3mm per year so I´m catching up to you. I´m only 52 meters above sea level so it takes a while.

  38. wb

    “You mountain people are strange.”

    Ha ! yes, and I take that as a compliment too 🙂

    I lived in a house on the beach for 7 years. High tide came to the back door. Storms and highest tides were always scary. The whole house bounced as the waves crashed against the shore, almost enough to throw me out of bed sometimes. I like it much better here.

    See how very wild and strange I am, my ancient website, never finished, here, includes some photos of both homes :


  39. JT

    “Ha ! yes, and I take that as a compliment too :-)”

    Yes that was a compliment both to you and Elaine 😀 .

  40. wb

    Glad you watch the Arctic ice so closely, JT, and stay so cheerful 🙂

    According to this guy there’s a risk of ocean current reversal, and

    “> IF … our currents today are close enough to those 11,000 years ago for Ocean Current
    Shutdown, & 300 mph winds (as occurred then)
    = Destruction of nearly ALL aboveground structures North of 10 Degrees Latitude = 99% Deaths in USA, Europe, etc. within 2 years. ”

    Don’t worry though, it’s *only* 12.5% chance…

    Click to access wilsonjuneoutlook.pdf

    Maybe I need to think about excavating an underground burrow 🙂

    “Lying in my heap of Earth I can naturally dream of all sorts of things…”

    The Burrow, Franz Kafka.

  41. PLovering

    Temperatures here on earth have been dropping for the last 10 years.

    Levels of CO2 have not change in 150 years.

    The ozone layer in our Stratosphere has not changed … maybe move around a little, but not changed.

    Global warming is not longer politically correct. The latest collective memo ordered “Climate Change” instead.

    There is no climate change, only contamination.

  42. emsnews

    I was in a doctor’s office leafing through Architecture Magazine. Lots and lots of expensive palatial houses…nearly all in BALMY places and NEAR THE OCEAN.


    And…there were designer private jets, too! HAHAHA. So much for the rich caring a whit about CO2 pollution except for the key element: they want to protect their oceanfront palaces.

    So…they want to heavily tax energy use. Force the peasants to stop driving cars, etc. Get those pests off the private beaches, too.

  43. wb


    “Levels of CO2 have not change in 150 years.”

    It’s not a matter of opinion. It’s called science. It’s not very difficult to measure the CO2. It has increased steadily. To state otherwise is to deny reality. The natural level should be about 280 ppm. Co2 levels are now around 387 ppm, which is much higher than the natural cycle, and rising fast. We know for certain the increase is caused by humans burning oil and coal.

    The other points are also mistaken but too boring to bother to refute.


    ELAINE: Correct. It has risen. But of course, the true question is, what sort of personal sacrifices will the elites make to fix this???? They, of course, plan to make none what so ever. At all. We underlings are to take all the pain and pay all the costs.

  44. JT


    A friendly advice.
    I´d drop Al Gore at this point just as a precaution.

    His film was not a peak scientific achievement. Planet is warming was right, pretty much everything else was false.

    But I guess it is ok to lie for all the right reasons 😉 . (like a few million dollars and some awards).
    Or you can lie for cinematic effect? That is the aim of all propaganda.

  45. wb

    Sorry, JT, can’t agree with you re Gore’s film.

    I’m not a fan of Gore, any more than I’m a fan of Prince Charles or any other celebrated public figure. Sadly, I can count the people in UK public life, whom I respect and trust, on the fingers of one hand.

    Don’t think it is ever good to tell lies, but that doesn’t matter re this issue, because it’s about science, which is about evidence and data, and eventually the truth becomes clear.

  46. PLovering

    @wb, “It’s not very difficult to measure the CO2. It has increased steadily.”

    Here you go pilgrim. Real science.


  47. JT

    British courts disagree.
    Critics have found over 130 mistakes in the film.


    The nine points: fact or fallacy?

    · The film claimed that low-lying inhabited Pacific atolls “are being inundated because of anthropogenic global warming” – but there was no evidence of any evacuation occurring

    · It spoke of global warming “shutting down the ocean conveyor” – the process by which the gulf stream is carried over the north Atlantic to western Europe. The judge said that, according to the Intergovernmental Panel on Climate Change, it was “very unlikely” that the conveyor would shut down in the future, though it might slow down

    · Mr Gore had also claimed – by ridiculing the opposite view – that two graphs, one plotting a rise in C02 and the other the rise in temperature over a period of 650,000 years, showed “an exact fit”. The judge said although scientists agreed there was a connection, “the two graphs do not establish what Mr Gore asserts”

    · Mr Gore said the disappearance of snow on Mt Kilimanjaro was expressly attributable to human-induced climate change. The judge said the consensus was that that could not be established

    · The drying up of Lake Chad was used as an example of global warming. The judge said: “It is apparently considered to be more likely to result from … population increase, over-grazing and regional climate variability”

    · Mr Gore ascribed Hurricane Katrina to global warming, but there was “insufficient evidence to show that”

    · Mr Gore also referred to a study showing that polar bears were being found that had drowned “swimming long distances to find the ice”. The judge said: “The only scientific study that either side before me can find is one which indicates that four polar bears have recently been found drowned because of a storm”

    · The film said that coral reefs all over the world were bleaching because of global warming and other factors. The judge said separating the impacts of stresses due to climate change from other stresses, such as over-fishing, and pollution, was difficult

    · The film said a sea-level rise of up to 20ft would be caused by melting of either west Antarctica or Greenland in the near future; the judge ruled that this was “distinctly alarmist”

    A friendly advice drop Al Gore. Nobody likes politicians.
    The current catch phrase seems to be: “We don´t know, but we should do it just in case. You can´t bet on the planets future.” Use that one.


    ELAINE: It turns out the atolls are growing as fast as the ocean is rising. Except where we kill the corals. The real problem is that humans are everywhere and very dirty about it. And we wreck many things, we are quite destructive. For example, nuking a number of atolls in the Pacific.

  48. wb

    Heck, JT, what makes you think I like Al Gore ? or any politician for that matter ?

    These legalistic quibbles are completely irrelevant, in my view. Anyway, the film is old and out of date. As is the IPPC report.

  49. wb

    Thanks, Plovering.

    Maybe that paper doesn’t say what you think it says. My impression, the denialists quote-mined the abstract and twisted it.

    “Basically, Bristol University scientist Knorr has discovered that the proportion of CO2 being absorbed by natural ‘sinks’ (i.e. the oceans and forests) has stayed roughly the same, despite the amount of carbon being emitted shooting up.

    The implication is that we have more time to address climate change than some believe because more carbon has been absorbed than previously thought.

    But Dr Knorr is adamant that we must still adress climate change, and favours mandatory caps on emissions. I ask him if that’s what we need to do and he says, “There is no other way”.

    But I was aware this story would generate a lot of coverage suggesting the research supports climate change denial, and that’s exactly what we’re seeing. I think when the nationals get hold of this (probably tomorrow) it’ll go into overdrive.
    So here is an interview in which I ask Dr Knorr specifically whether his research backs up climate sceptics. (He says no, if you can’t listen to it)”


  50. PLovering


    We read that grain harvests in Finland are doing poorly. Expected yields well down from last year.

    What’s happening?

  51. i feel the crisis we have been facing is not the reality, the numbers shown by the dept of finance usually misleading , we actually need to focus on our work whatever field we are in but we need to focus on .

    there will be time very soon everything will be alright

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