It is my Friday Lay Day blog and it is going to be relatively quick. There was an article in the Wall Street Journal (December 23, 2015) – Economists Say ‘Bah! Humbug!’ to Christmas Presents – that says a lot about how my profession struggles to appreciate reality in all its dimensions. Every year, it…
Friday lay day
Its my Friday lay day, which means a relative blog rest day. Relative is relative. This week saw the ramping up of the so-called ‘War on Terror’, which was a smokescreen George Bush and his conservative allies used to illegally invade countries that they didn’t like or who had strategic assets (such as oil) and who they knew couldn’t defend themselves. The pretext was to make the world safer but the reality is that it has made the world more dangerous. If we are to believe the press, yesterday’s raids in Sydney and Brisbane and subsequent press reporting suggests that some random citizens were about to be dragged off the street, beheaded with a nasty looking sword inscribed with Arabic characters, and then paraded on YouTube for the whole world to see. I think the whole ‘western’ response to all this is unwise.
I don’t excuse the YouTube beheadings we have seen recently. Of course, we don’t know that the videos are real given even Beyonce Knowles allegedly alters staircase angles to get a wider ‘gap’ (Source).
But we assume they have occurred and they are pretty terrible. But before we step into judge, and I am not intending to descend into the mire of post modernist relativism here, the data I discussed yesterday where an Australian CEO gets 85 times more than the average annual wage is also pretty terrible and incites rather destructive responses from those who feel left behind.
The US case of the CEO Pay Ratio above 200 and one CEO getting 1750 or whatever times the average wage is beyond the pale and signifies a totally unbalanced and sick system.
I think deliberately making millions of people unemployed, who are already behind the eight-ball in society, is pretty terrible.
I think bailing out Wall Street banksters who seem to have prospered from the GFC is pretty terrible.
I think locking up whistleblowers like Bradley (Chelsea) Manning is pretty terrible.
I think blasting children and civilians on the West Bank who have no possible chance at an equal response is pretty terrible.
I think locking refugees and their children up in mosquito-infested prisons on Pacific Islands and then being responsible for out of control security guards murdering one of these poor souls is pretty terrible.
We could go on. The point is that right and virtue is not an exclusive property of one side in all of this.
Going back into Iraq with our armies is just what the extreme elements want us to do. It is a recipe for continued disaster.
The Modern Monetary Theory (MMT) solution would be to start by diverting the billions spent on making bombs and weapons and sending troops into fights they cannot win into job creation and poverty alleviation programs.
I know there is a lot of conservatively orientated research that allegedly ‘proves’ that terrorism (by which they mean Islamic militancy) is not caused by unemployment and poverty. They claim that notable suicide bombers are sometimes highly educated or come from well-to-do backgrounds.
But there is a massive surge in young people from all nations who are being attracted to the ideas that the western ideology is corrupt, terrorist itself in leaning and deserves to be obliterated. The well-educated might be involved but hundreds and thousands of poor, unemployed youth are also being recruited because they have no sense of hope otherwise.
If we started a War on Unemployment and Poverty and seriously funded job creation programs and public education, then we would be providing an alternative opportunity set for those that the capitalist system – whether it be in the US or in Syria – has rejected and denied any opportunity for prosperity.
Australia should give millions of dollars to these sorts of programs via our external aid and stop playing lackey to the martial ambitions of the Americans.
I was involved in a research project examining the prospects for Lebanese youth in Western Sydney a few years ago. This is where the raids and arrests were targetted yesterday and where the alleged random beheading plot was being nurtured.
We found massive disadvantage and social alienation that was driven by very high unemployment rates, poorly funded public schools and lack of adequate urban infrastructure (youth recreation, entertainment etc). All were products of the Federal and State government fiscal austerity obsession over the last 20-30 years.
What would you do if there was a powerful set of thoughts being pumped into your community which explained this plight in terms of a corrupt western culture and you had no hope to participate in mainstream society in any material sense through legal conduct?
Being governed by this lot
Here is our Prime Minister (centre), Foreign Minister (left) and Attorney General (right) standing under the sign that was custom built for them.
The Treasurer was absent but I am sure he wanted to be standing there under the sign.
Music – going mainstream today
We will go mainstream today. One of my favourite tracks. I was listening to it this morning as I walked to the dentist to cheer me up. Given the week just gone in the world we all need cheering up a bit.
I bought the record – Axis: Bold as Love – soon after it came out in late 1967. I was a young teenager and wanted to learn to play like the genius.
This album was really just the warm up set for his next (and last) album – Electric Ladyland that came out in 1968.
Pure joy.
Saturday Quiz
The Saturday Quiz will be back again tomorrow. It will be of an appropriate order of difficulty (-:
That is enough for today!
(c) Copyright 2014 Bill Mitchell. All Rights Reserved.
I prefer Axis Bold as Love in Mono. The stereo version has holes in the mix you could drive a bus through.
I always thought the stereo effects were an important part of the album. When I was a young lad I used to be on drinking terms with a moderately successful session guitarist. I recall asking him a few months before Hendrix died his opinion of Hendrix ,he replied “not so much a guitarist,more of an electrician”. I don’t recall Hendrix being held in such high regard when he was alive.
Dear Paul the Essex boy (at 2014/09/19 at 15:14)
You said:
You might like to change your recollection. He was considered dynamite as a technician and showman.
You might consult accounts by Peter Green, Eric Clapton, Jeff Beck, Jimmy Page and the other leading guitarists on the scene at the time of what they thought when Jimi Hendrix showed up in London with the Experience.
In David Henderson’s book ‘Scuse Me While I Kiss the Sky: Jimi Hendrix: Voodoo Child (published by Simon and Schuster, 2008) he writes (page 119):
There is also the story of Hendrix rocking up on October 1, 1966 to a Cream gig at the Central London Polytechnic and jamming with them on the classic Howlin’ Wolf song Killing Floor. Apparently, the band soon regretted his contribution and Clapton left the stage and was quoted as asking the ex-Animals musician Chas Chandler, who by then was managing the Experience whether Jimi Hendrix “Is he always that fucking good” (see Martin Power’s book “Hot Wired Guitar: The Life of Jeff Beck” (published by Music Sales Group, 2012).
best wishes
bill
surely military spending doesn’t prevent the government from spending on other things. cutting any spending currently doesn’t guarantee the willingness to provide spending other things, it just increases the risk of having overall spending cut.
government contractors in the US are already doing an efficient job of sucking in the most amount of money (which they can then spend into the (Chinese) economy to drive demand) for providing the least amount of weaponry to blow shit up.
p.s:
are there any pay ratio regulations for government contractors? if not, it would probably a good idea to start there.
Bill cites just one Islamo crime (beheadings) and compares that that whole list of Western crimes (inequality, etc). Well I can play that trick in reverse, i.e. set out a long list of Islamo crimes:
1. Abducting school girls and selling them into slavery or forced marriage. 2. Perpetrating genocide on members of other religious ISIS style. 3. Pedophilia Rotherham style. 4. Homophobia. 5. Holocaust denial. 6. Killing or threatening to kill the authors and cartoonists you don’t like. 7. Making rape more or less legal.
Moreover, most of the alleged crimes of the West cited by Bill are equally prevalent or even more prevalent in Muslim countries: unemployment and inequality for example.
As for Bill’s claim that “that right and virtue is not an exclusive property of one side..”, that’s a straw man argument. OBVIOUSLY no side is 100% virtuous in any dispute. Hitler’s empire building efforts were not a 100 miles from Britain’s empire building over the last 300 years.
And finally, as is entirely predictable, not one in thousand Western lefties who laud or make excuses for Islam actually choose to go and live in the Islamic part of Nigeria, Pakistan, etc. It’s a bit like West European lefties who lauded central economic planning Eastern Europe style in the 1960s: not one in a thousand chose to go an enjoy the wonders of central planning first hand in Eastern Europe.
It’s all so depressing.
Ralph Musgrave says:
Friday, September 19, 2014 at 19:07
Why do you post here Ralph? It makes no sense.
So succinctly impaired in a short space,John G,
you could almost have said it was at the second ‘that that’ that that man
said that,that did it for me
but that would be just sick …sorry Ralph
Have a good-one
So much is a matter of taste. While I certainly think beheadings are gross (and probably extremely painful), I also think botched lethal injections rank right up there, and I wonder if perhaps those who behead might agree with me. Of course the victims aren’t around to confirm or deny, and in any case, no one gets to try both to see which is better.
I do know one thing however, and that is that it is pretty sick to drum up support for another adventure with America’s killing machine by showing a few beheading videos, when at the same time we recruit as a partner in that effort a country that has had 19 public beheadings this month alone.
Of course, so much is a matter of taste.
Logic will never justify killing, no matter how perfect you think it (and maybe thus yourself) are. It is an illusion.
Seems everyone is talking about whistleblowers today.
Are there adequate National Whistleblowers Unions yet?
“You know how to be a whistleblower, don’t you JJ Sixpack? You just put your wits together and blow … that whistle.”
http://www.youtube.com/watch?v=i9Ay727EYzw
Is there an adequate National Whistleblower’s Union yet?
NWU?
http://mobile.nytimes.com/2014/08/17/opinion/sunday/maureen-dowd-wheres-the-justice-at-justice.html?referrer=&_r=1
@Thomas_Drake1 @JohnKiriakou @JamesRisen @djhask
‘Little Wing’ is a neat little tune. Clapton’s take on it with Duanne Allman was somewhat overwrought but was still good. Stevie Ray’s version was faithful to Jimi but also added something cool to it. It truly is a masterpiece and a song that can absorb entire afternoons either jamming it or listening to the various versions of it.
Excellent choice!
The videos are suppled by IS, in part because they want us to fight them.
For those interested in the ways in which Chelsea Manning thinks Isis should be dealt with, have a look at these articles.
http://www.theguardian.com/commentisfree/2014/sep/16/chelsea-manning-isis-strategy
http://www.theguardian.com/world/2014/sep/16/chelsea-manning-criticises-obama-isis-strategy
He doesn’t think bombing them into the stone age will work. I think he has a point. The right strategy will no doubt turn on a matter of nuance.
WTF are you talking about Ralph? What is your point? You remind me of faith-based Marxists from the Seventies who complained about anyone who dared to criticize the work of the great man and Marxists who lived in something other than a hovel, excluding themselves from this critique, of course. You seem to me to be spouting the same kind of nonsense.
Go easy on Ralph, you’d be in a bad mood too if the lefties in central planning had reassigned your party’s franchise the the chirpy new UKIP party.
“The Modern Monetary Theory (MMT) solution would be to start by diverting the billions spent on making bombs and weapons and sending troops into fights they cannot win into job creation and poverty alleviation programs.”
Is this a MMT solution or a solution in your personal point of view?
I actually totally agree with your point of view, but we cannot confuse what a theory tells us and what you tell us based on MMT theory and a lot of other theories and life experience.
MMT is a theory based on facts, that tells a lot of things about currency and the financial system.
A War On Unemployment is a personal political opinion about how to make the world a better place.
We shouldn’t mix both and create confusion.
Andre,
MMT goes beyond the accounting side. The whole PURPOSE is to prove that there are always enough real capital goods in an economy to employ everyone who wishes to contribute to gdp. I will concede that war may be one of those methods, but globally, war is the ultimate example of the broken window fallacy, and serves absolutely no greater purpose. Mass death and destruction in order to steal or secure a few cheap resources is one of the most disgusting traits humankind has.
Dear Andre (2014/09/20 at 6:21)
An aspect of emphasis in MMT is that we can afford full employment and as a matter of efficiency should aim always for that state.
Military spending creates aggregate demand but does not create full employment, especially in areas where the bombs are dropped.
Further MMT is virtually alone in constructing the ageing demography story in terms of the need for strong future productivity growth to address the rising dependency ratios. It rejects the fiscal crisis angle of the mainstream narrative in this context. The path to future productivity growth is to create jobs, reduce poverty and invest in people and their education. That is the MMT solution.
So a War on Unemployment, while resonating with my personal values, is core MMT and is wholly achievable once one understands the power of a currency and the way the financial system works.
best wishes
bill
Depends on whether you are bombing away people or capital goods. Though, I’d suspect bombing away people reduces aggregate demand.
One way to minimize the negative impacts of military spending is to go the Oskar Schindler route and not manufacture working bombs.
Hey Paul,
re Friday lay,in truth in trying to keeping up with a ‘Pure Joy’ rhythm
I took notes of Ralph’s beat to which by it’s end’s I’d written ‘that’s,that’s’,learnot,4real,as in ‘is this guy for real,at that,I then
Hit John G’s comments a little reversed,remembered those ‘that’s,that’s again,so I began to scribble-out n 4,in
also going over-time,
I thought about ‘That’s again,and at ‘that (learreal) I went to comment to/and played with Ralph’s rhythm…anyway all in fun and now to be seen without full-stops and therefore no personal targets.drawn upon this label remix is centered to Reflect…Thanks
another great article bill,Pure Joy……..Ralph
SteveK9 says:
Saturday, September 20, 2014 at 2:17
The videos are suppled by IS, in part because they want us to fight them.
The videos are supplied by a very shady little company called SITE and its owner, one Rita Katz.
It’s an interesting history they have. And interesting friends.