The article on quants researching data in poetry and literature for word use mentioned Google's n-gram viewer that sorts through millions of books to let the interested become informed about the rise and fall of word use.
I suppose the phrase 'a queer congress' may not be used in New York in the future even if it is so as it will evolve into deposition in the hate speech lexicon by a queer congress.
http://www.nature.com/nature/journal/v474/n7352/full/474420b.html
Quantitative approaches to literary analysis are an inevitable consequence of the bureaucratization of any verbose society. The quantitative assault on Wall Street (known as 'The Street') began with Joe Flom and Walter Wriston II, Ivan Boesky, Michael Milken and numerous others regarding real corporations as abstract entities to manipulate financially for profit. Quantitative approaches bring not only profit but occassionally a sense of social prestige and scientific solidity.
It cannot inevitably however see the woods for the trees, through which they run lonely, dark and deep without promises to keep except unto themselves.
American issues of Christianity, cosmology, politics, ecosphere, philosophy, contemporary history etc
6/25/11
Excelsior College/Univ. of the State of N.Y.; Please erase the B.A. degree I got in 1991!
Excelsior College Univ. of the State of N.Y. Albany, N.Y. June 24, 2011
re; Request for deletion of my Bachelor of Arts degree (#----) issued from The University of the State of N.Y. in June 1991.
Please erase from your records a.s.a.p. the Bachelor of Arts degree I received and now deplore from The University of the State of N.Y. in June 1991.
I would like your records and all others reflecting my graduation from the University of the State of N.Y. to be as if I had never taken a degree from The University of the State of New York. I would appreciate acknowledgement from Excelsior College and The University of the State of N.Y. that the degree has been destroyed.
The degree, number ----- of June 1991 was signed by Gov. Mario Cuomo and delivered to P.O. Box 2019 Wrangell Alaska 99929 in June 1991. It is no longer something I want.
The action of the New York State legislature and Executive redefining marriage parameters is offensive to good sense and moral decency. It is misleading and deceptive to the public letting them think I want to have any association with the University of the State of N.Y. after corruption of N.Y. State marriage law.
The New York State legislature in passing a bill to legalize homosexual marriage in New York, supported by Gov. Andrew Cuomo, has created a moral contravention. I do not wish to be associated with the institutions of the State of New York henceforward, and do not want people to believe that I support the political views of the New York State Legislature on marriage.
I believe that democracy should be constructed through free will and choice rather than force. If I had believed in 1991 that the State of N.Y. would ever recognize homosexual marriage I would never have taken a degree from the Regents College/ University of the State of N.Y.
I believe it is the moral duty of the State of N.Y. to free those with a degree they deplore from the onerous relationship of a degree with their name on it issued by the State of N.Y.
I may be the right of a U.S. state to choose to enact perverted laws. It is equally the right of a citizen to sever all ties with such a state so far as possible.
thanks,
Gary C. Gibson
re; Request for deletion of my Bachelor of Arts degree (#----) issued from The University of the State of N.Y. in June 1991.
Please erase from your records a.s.a.p. the Bachelor of Arts degree I received and now deplore from The University of the State of N.Y. in June 1991.
I would like your records and all others reflecting my graduation from the University of the State of N.Y. to be as if I had never taken a degree from The University of the State of New York. I would appreciate acknowledgement from Excelsior College and The University of the State of N.Y. that the degree has been destroyed.
The degree, number ----- of June 1991 was signed by Gov. Mario Cuomo and delivered to P.O. Box 2019 Wrangell Alaska 99929 in June 1991. It is no longer something I want.
The action of the New York State legislature and Executive redefining marriage parameters is offensive to good sense and moral decency. It is misleading and deceptive to the public letting them think I want to have any association with the University of the State of N.Y. after corruption of N.Y. State marriage law.
The New York State legislature in passing a bill to legalize homosexual marriage in New York, supported by Gov. Andrew Cuomo, has created a moral contravention. I do not wish to be associated with the institutions of the State of New York henceforward, and do not want people to believe that I support the political views of the New York State Legislature on marriage.
I believe that democracy should be constructed through free will and choice rather than force. If I had believed in 1991 that the State of N.Y. would ever recognize homosexual marriage I would never have taken a degree from the Regents College/ University of the State of N.Y.
I believe it is the moral duty of the State of N.Y. to free those with a degree they deplore from the onerous relationship of a degree with their name on it issued by the State of N.Y.
I may be the right of a U.S. state to choose to enact perverted laws. It is equally the right of a citizen to sever all ties with such a state so far as possible.
thanks,
Gary C. Gibson
New York’s Legislature Makes Perverse Change to Definition of Marriage
When The Street decided to deregulate marriage in order to pack more youth into cheaper, exploitable employee spaces it required the sort of minimum wage and below, no medical benefits, bankers will loan to corporations they buy stock in logic that let Sam Walton become the largest retailer in the U.S.A.. Perversion may rise to be the top power tool incentive for promotion into the material prosperity so much admired within a retarded human social environment.
Democrats put a new, perverse wine of homosexual perversion into the old wineskin of heterosexual marriage. The Legislature and Governor of New York have successfully broken the meaning of marriage that existed since the foundation of the nation.
One can imagine Nathan Green, Patrick Henry, Alexander Hamilton or George Washington making mincing serpent eyes at lordly British aristocrats-The lord Fairfax’s of America, instead of revolting. In the new corporate ethos in an effort to wheedle an acre or two-a smidgen of five dollar designer coffee with whip cream and egregious frills the gay party might take a different course without substantial human rights reason.
A vague Darwinian politics of natural, amoral phenomenalism has led to a discarding of aretaic and other ethical structures that are valid epistemological inferences in favor of political nihilism. One experiences the transcendence of Kant’s moral imperative through the sheer force of Darwinian naturalism displacing intentional rational human cultural and ethical constructions.
There may be a collateral calculus for the Darwinian realm of evolutionary phenomenal unethics that allows a different and entirely subjectively personalized set of truth values to be used socially and politically in order to confer the greatest advantage upon those of that belief. It is something like a Wall Street commodities and derivatives values approach to trading truth as a constructed product added or subtracted to bids in order to make for a positive sum to-oneself.
If positive whole numbers were to be regarded as abstract units of truth value like a currency, then it would be entirely reasonable to add negative, imaginary false numbers to offset the positive numbers whenever useful-especially in politics, for the Darwinian evolutionary phenomenalists may regard truth as whatever is to their own personal advantage and social values and good as exploitable fictions.
The State Government of New York has opened the door further to diabolical biological transmutation progression from Boston San Francisco and London of the future transitioning the U.S.A .into the village of the damned. Dr. Skinner and Mengele believe they are doing human kind a favor reducing the biomass to better fit existential niches.
Contract law and appropriately labeled news structures might easily have been constructed by devotees of homosexual bonding relationships that would not have attacked the sanctity of marriage. Marriage should have continued as before while new homosexual relationships started their own tradition.
Now is a corrupt and perverse era of the United States. Atheist and greedy secularists seek to reduce human population, destroy social history, degrade the properties of individual civil rights and increase the concentration of absolute wealth and power upon this finite planet with finite resources and plausible deniability.
Approval of depravity to degrade resistant social structures historically coincides with the infarctive narratives of proxy fights for political takeovers. Wall Street financiers have expanded too far beyond the bounds of decency beginning with hostile takeovers followed by leveraged buyouts and a host of deregulations letting social economic equality become ruptured and replaced by impersonal, cold-blooded forces of concentrated immoral wealth hidden behind a camouflage of neo-democratic structures.
The Apostle Paul wrote; “the natural man receiveth not the things of The Spirit of God: for they are foolishness unto him; neither can he know them, because they are spiritually discerned.”-I Corinthians 2:14.
Democrats put a new, perverse wine of homosexual perversion into the old wineskin of heterosexual marriage. The Legislature and Governor of New York have successfully broken the meaning of marriage that existed since the foundation of the nation.
One can imagine Nathan Green, Patrick Henry, Alexander Hamilton or George Washington making mincing serpent eyes at lordly British aristocrats-The lord Fairfax’s of America, instead of revolting. In the new corporate ethos in an effort to wheedle an acre or two-a smidgen of five dollar designer coffee with whip cream and egregious frills the gay party might take a different course without substantial human rights reason.
A vague Darwinian politics of natural, amoral phenomenalism has led to a discarding of aretaic and other ethical structures that are valid epistemological inferences in favor of political nihilism. One experiences the transcendence of Kant’s moral imperative through the sheer force of Darwinian naturalism displacing intentional rational human cultural and ethical constructions.
There may be a collateral calculus for the Darwinian realm of evolutionary phenomenal unethics that allows a different and entirely subjectively personalized set of truth values to be used socially and politically in order to confer the greatest advantage upon those of that belief. It is something like a Wall Street commodities and derivatives values approach to trading truth as a constructed product added or subtracted to bids in order to make for a positive sum to-oneself.
If positive whole numbers were to be regarded as abstract units of truth value like a currency, then it would be entirely reasonable to add negative, imaginary false numbers to offset the positive numbers whenever useful-especially in politics, for the Darwinian evolutionary phenomenalists may regard truth as whatever is to their own personal advantage and social values and good as exploitable fictions.
The State Government of New York has opened the door further to diabolical biological transmutation progression from Boston San Francisco and London of the future transitioning the U.S.A .into the village of the damned. Dr. Skinner and Mengele believe they are doing human kind a favor reducing the biomass to better fit existential niches.
Contract law and appropriately labeled news structures might easily have been constructed by devotees of homosexual bonding relationships that would not have attacked the sanctity of marriage. Marriage should have continued as before while new homosexual relationships started their own tradition.
Now is a corrupt and perverse era of the United States. Atheist and greedy secularists seek to reduce human population, destroy social history, degrade the properties of individual civil rights and increase the concentration of absolute wealth and power upon this finite planet with finite resources and plausible deniability.
Approval of depravity to degrade resistant social structures historically coincides with the infarctive narratives of proxy fights for political takeovers. Wall Street financiers have expanded too far beyond the bounds of decency beginning with hostile takeovers followed by leveraged buyouts and a host of deregulations letting social economic equality become ruptured and replaced by impersonal, cold-blooded forces of concentrated immoral wealth hidden behind a camouflage of neo-democratic structures.
The Apostle Paul wrote; “the natural man receiveth not the things of The Spirit of God: for they are foolishness unto him; neither can he know them, because they are spiritually discerned.”-I Corinthians 2:14.
6/24/11
A Little Known American Economic Hero
Brooksley Born was forced out of office during the Clinton administration for trying to use her authority to regulate derivative's trading in 1996. Her efforts were the sort of thing that would have restrained some of the subversive effects of derivatives trading.
http://en.wikipedia.org/wiki/Brooksley_Born
http://en.wikipedia.org/wiki/Brooksley_Born
A World of Small World's Elements ©2011GaryCGibson (poem)
Isotopes of ingenuity, Curies of rad
observation of change, constructions
in temporal moments add
Stendahl, Dostoyevsky and Tolstoy with Steinbeck's fields of wrath rifts
shaped with elements of hydrogen, helium and oxygen
forged through Higg's field
star formation novas
dust of being coalesced like rocky planetary ovas
where the kingdom of God is within you
within green forests flowering summers tilted toward starlight and song
thrushed through midnight and dawn
Elements of cells clumped governments
unable to tell right from wrong
where freedom and land are pawned
mortgages are collateralized debt obligations packed like fiber optics data around the world in markets gone bad
Elements building small worlds networks
cells to consume energy arise
complexity formed intaking power
molecular biology envisioning time
ticked off to sense the shadows of spirit
glistening in summer morning rain
aesthetic intuitions of beauty
purposefully adapted to plains
of time and being
in a created universe of universes
all things ordered in the will of God.
observation of change, constructions
in temporal moments add
Stendahl, Dostoyevsky and Tolstoy with Steinbeck's fields of wrath rifts
shaped with elements of hydrogen, helium and oxygen
forged through Higg's field
star formation novas
dust of being coalesced like rocky planetary ovas
where the kingdom of God is within you
within green forests flowering summers tilted toward starlight and song
thrushed through midnight and dawn
Elements of cells clumped governments
unable to tell right from wrong
where freedom and land are pawned
mortgages are collateralized debt obligations packed like fiber optics data around the world in markets gone bad
Elements building small worlds networks
cells to consume energy arise
complexity formed intaking power
molecular biology envisioning time
ticked off to sense the shadows of spirit
glistening in summer morning rain
aesthetic intuitions of beauty
purposefully adapted to plains
of time and being
in a created universe of universes
all things ordered in the will of God.
Raise Taxes & Cut Spending-Pay Off Federal Debt and Eliminate Interest Payments
During the Ford administration unemployment ranged between 8 and 9%. The public wanted new policies to deal with the crisis. Unfortunately financial deregulation by Jimmy Carter and his multiple course reversing economic policy stimulated inflation and decades of financial deregulation undermining the job and political security of the people of the United States.
Paying off the federal debt quicker; eliminating the federal budget deficit creates a two’fer bonus of saving on interest payments on the Federal Debt of near ¾ trillion dollars annually.
Congressional Republicans should compromise and raise taxes on those earning more than $250,000 annually, while Democrats should allow spending to be cut on pork barrel projects. Qualitative easing of federal budget outlays would improve the quality and efficiency of services provided with tax dollars-if a smarter congress can be found.
Eliminating federal debt and simultaneous creation of jobs with federal priority policy adjustments toward ecological economics may discomfit Wall Street abstract financial plundering of corporate material product realism. Yet no one in Washington D.C. may be capable of empirically rational economic leadership and able to eliminate the market inefficiency of the financial and banking sectors draining public and private sector capital. The Congress ought not tolerate extension of economic malaise with public indebtedness.
It might recall Long Term Capital Management’s risk aggregator calculation error and VAR assumptions that let John Merriwether and LTCM take on $125 billion of debt with just $5 billion in capital in 1998 (ref. page 278 ‘Age of Greed’ by Jeff Madrick). Government intervention was again required to arrange a rescue of the deregulated financial sector to prevent a cascade of collapse.
The government life disdaining traditional financial regulation and taxation since the Carter administration in preference for financial deregulation to the advantage of a predatory financial class isn’t good, yet they seem to move farther along that road of concentrating wealth and failing to invest adequately in real material national infrastructure all the time.
Paying off the federal debt quicker; eliminating the federal budget deficit creates a two’fer bonus of saving on interest payments on the Federal Debt of near ¾ trillion dollars annually.
Congressional Republicans should compromise and raise taxes on those earning more than $250,000 annually, while Democrats should allow spending to be cut on pork barrel projects. Qualitative easing of federal budget outlays would improve the quality and efficiency of services provided with tax dollars-if a smarter congress can be found.
Eliminating federal debt and simultaneous creation of jobs with federal priority policy adjustments toward ecological economics may discomfit Wall Street abstract financial plundering of corporate material product realism. Yet no one in Washington D.C. may be capable of empirically rational economic leadership and able to eliminate the market inefficiency of the financial and banking sectors draining public and private sector capital. The Congress ought not tolerate extension of economic malaise with public indebtedness.
It might recall Long Term Capital Management’s risk aggregator calculation error and VAR assumptions that let John Merriwether and LTCM take on $125 billion of debt with just $5 billion in capital in 1998 (ref. page 278 ‘Age of Greed’ by Jeff Madrick). Government intervention was again required to arrange a rescue of the deregulated financial sector to prevent a cascade of collapse.
The government life disdaining traditional financial regulation and taxation since the Carter administration in preference for financial deregulation to the advantage of a predatory financial class isn’t good, yet they seem to move farther along that road of concentrating wealth and failing to invest adequately in real material national infrastructure all the time.
6/23/11
Space.com Posts an Article Interpreting "Genesis' Spacecraft Findings
Space.com's article provides analysis of the findings of the N.A.S.A. mission. Evidently the Oxygen and Nitrogen isotope content of the sun and planets differ indicating an early change in the values of elements going into forming the sun & solar system planets.
http://genesismission.jpl.nasa.gov/gm2/images/gallery/landing/index.htm
http://www.space.com/12059-earth-formation-sun-building-blocks-nebula.html
http://genesismission.jpl.nasa.gov/gm2/images/gallery/landing/index.htm
http://www.space.com/12059-earth-formation-sun-building-blocks-nebula.html
State of the U.S. Economy/Federal Budget Factors Troubles/Jobs
The Present U.S. economic crisis was not a consequence of over-taxation. It is a result of Wall Street deregulation the past 40 years leading the nation through an increasing cascade of financial crashes and increasing public debt.
Inadequate political and economic philosophical competence in government has let a financial/arbitrage, LBO/CBO, derivative gaming of Wall Street promotes a corrupting new class of market predators. The financial predators have expanded the leverage power of abstract capital to exploit their prey of real, material product producing industry. Government never reigned in those predators. In fact Allan Greenspan and a host of other supporters of deregulating the financial sector defeated better philosophical management approaches to governing capitalism for the benefit of the citizens of the United States. My most recent book of reading on this topic ‘The Age of Greed’ by Madrick provided data for a few of the ideas of this post.
Since the Reagan administration U.S. tax rates have been at an historical low going back nearly to the depression era. The massive public debt of the 80’s and 90’s was largely caused by a perfidious deregulatory financial sector investment strategy of dumping debt wherever possible while cutting taxes. The public provided bail outs for numerous corporations and financial businesses the last 30 years and paid for much public infrastructure supporting corporate users such as Interstate highways and airports.
Elite hedge fund managers (George Soros earned 3 billion dollars in 2007) investing for wealthy packs of financial hyenas scouring the globe for vulnerable business and currency prey to kill and devour while real unemployment rate in the U.S.A. may be around 17%. Only 56% of working age Americans have jobs.
Some economists favoring a self-regulating economy without government intervention or governance also support the idea of a naturally high level of unemployment below which inflation occurs. Victimizing the working class is thus regarded as the natural right and duty of those with concentrated wealth benefiting the public by enriching themselves and wrecking the economy of the poor.
I enjoy reading philosophy yet never did get to Ayn Rand’s books. I enjoy more technical or classical works of philosophy and generally avoid books like; Thus Spake Zarthustra, The Communist Manifesto, Mein Kampf, None Dare Call It Treason and so forth running a little too political or anecdotal for my philosophical interest. Still, since many ‘conservatives’ read Ayn Rand’s books with more enthusiasm than I had in reading Anna Karenina so in some future decade I may find a copy of ‘Atlas Shrugged’ to browse’.
As a Russian émigré’ I would guess Ayn Rand was naturally moved to be anti-statist emerging from a Soviet-Tsarist historical background of totalitarianism. Such ideological thesis-antithesis evolutions do not however allow much space for intelligent, adaptive social analysis in political-economy. Economic individualism in pursuit of abstract financial goals that manipulate real property in the wild kingdom can lead to chaos, anarchy, nihilism and general unhappiness on the happy planet; in fact the entire environment can go to pot. George Soros’ challenging environment of upbringing also obviously led him to develop a skill exploiting abstract industrial financial and economic transaction of the market rather than developing new industry.
The conservative investment strategy plundering and giving away U.S. national economic quality and quantity has destroyed labor unions and the progress of income for manufacturing workers. The nation transitions into service workers at lower pay and non-materially productive businesses plus medical care providers. Free enterprise has difficulty surviving hordes of banking and financial predators attacking the manufacturing ungulate herds like the hyena, wolf and cheetah.
The U.S. economy experienced a surge of financial deregulation from the Carter administration letting higher interest rate charges on credit cards to the securitization of mortgages and later Allan Greenspan’s support of collateralized debt obligations and derivatives. The Reagan administration allowed Standard oil to buy Gulf oil during his administration reducing competition in gasoline pricing, and in the Bush II years Wall Street’s major financial firms were allowed through lax regulation and a loose political philosophy of letting the financial market regulate itself to sell derivative and mortgage debt obligations in tranched repayment bond packages to more than 40 times their collateral. The nation had more than 17 trillion dollars in mortgage debt by 2006.
The over-production of house construction and trading of mortgages in a variety of obscure and risky packages to investors allowed Wall Street bankers and traders to collect huge fees-they were stimulated to sell sub-prime mortgages with gouging contract terms to poor buyers doomed to fail at repayment. The financial sector of the economy was soaking up profits and little was being invested in honest industrial and infrastructure growth.
In a way Wall Street invested only in jobs that cannot be outsourced abroad to cheaper production facilities in China. China of course did buy much of the mortgage securities from Fannie Mae and Freddie Mac.
Restarting the U.S. housing construction business cycle may be difficult with so much surplus housing the poor and unemployed cannot afford to buy-maybe the homes should be rented at half price rather than stand empty for a loss.
Honest lenders will be at a disadvantage in a securitized housing finance business environment. Deregulation of the recovered financial sector again may encourage a new housing bubble cycle to begin. Creating jobs in new, materially productive non-outsourcable industry would be a preferred direction in reducing the U.S. employment rate. Those jobs could be in building artificial, hollow mountain ranges for housing, business and hydroponic gardening and retail office space etc. The exteriors would resemble natural ecosystems yet collect solar and wind power. Integrated space for non-fragmented ecosystem continuity would exist along the base.
I have been reading ‘The Age of Greed’ by Madrick recently and become more informed of some of the structural problems of Wall Street and government the last 40 years in directing capital into a spaced out financial sector instead of into manufacturing and modernizing infrastructure in the U.S.A. That will be very challenging to correct.
I learned recently that the U.S. Government extended 12 trillion dollars in loan and debt guarantees during the 2007-2008 financial crisis. Merely returning to business as usual-to a deregulated Wall Street environment allowing the domination of investing in financial instruments for profit instead of businesses for themselves will continue to degrade the content of the U.S. economy as traders look with predatory gaze upon anything that can be leveraged for buy out or collateralized, packaged as debt obligation and resold as derivatives. Real manufacturing capital investment is given unnecessary risk and volatility by the corrupt financial market forces, and inventive material genius is degraded in favor of slick financial skimming genius in the deregulated business environment wherein irrational empirical investment priorities are regarded as collectively rational. If the invisible hand of CDOs and derivatives without regulation is regarded as rational, so might that of a robotic arm under the control of a random pickpocketing program.
Inadequate political and economic philosophical competence in government has let a financial/arbitrage, LBO/CBO, derivative gaming of Wall Street promotes a corrupting new class of market predators. The financial predators have expanded the leverage power of abstract capital to exploit their prey of real, material product producing industry. Government never reigned in those predators. In fact Allan Greenspan and a host of other supporters of deregulating the financial sector defeated better philosophical management approaches to governing capitalism for the benefit of the citizens of the United States. My most recent book of reading on this topic ‘The Age of Greed’ by Madrick provided data for a few of the ideas of this post.
Since the Reagan administration U.S. tax rates have been at an historical low going back nearly to the depression era. The massive public debt of the 80’s and 90’s was largely caused by a perfidious deregulatory financial sector investment strategy of dumping debt wherever possible while cutting taxes. The public provided bail outs for numerous corporations and financial businesses the last 30 years and paid for much public infrastructure supporting corporate users such as Interstate highways and airports.
Elite hedge fund managers (George Soros earned 3 billion dollars in 2007) investing for wealthy packs of financial hyenas scouring the globe for vulnerable business and currency prey to kill and devour while real unemployment rate in the U.S.A. may be around 17%. Only 56% of working age Americans have jobs.
Some economists favoring a self-regulating economy without government intervention or governance also support the idea of a naturally high level of unemployment below which inflation occurs. Victimizing the working class is thus regarded as the natural right and duty of those with concentrated wealth benefiting the public by enriching themselves and wrecking the economy of the poor.
I enjoy reading philosophy yet never did get to Ayn Rand’s books. I enjoy more technical or classical works of philosophy and generally avoid books like; Thus Spake Zarthustra, The Communist Manifesto, Mein Kampf, None Dare Call It Treason and so forth running a little too political or anecdotal for my philosophical interest. Still, since many ‘conservatives’ read Ayn Rand’s books with more enthusiasm than I had in reading Anna Karenina so in some future decade I may find a copy of ‘Atlas Shrugged’ to browse’.
As a Russian émigré’ I would guess Ayn Rand was naturally moved to be anti-statist emerging from a Soviet-Tsarist historical background of totalitarianism. Such ideological thesis-antithesis evolutions do not however allow much space for intelligent, adaptive social analysis in political-economy. Economic individualism in pursuit of abstract financial goals that manipulate real property in the wild kingdom can lead to chaos, anarchy, nihilism and general unhappiness on the happy planet; in fact the entire environment can go to pot. George Soros’ challenging environment of upbringing also obviously led him to develop a skill exploiting abstract industrial financial and economic transaction of the market rather than developing new industry.
The conservative investment strategy plundering and giving away U.S. national economic quality and quantity has destroyed labor unions and the progress of income for manufacturing workers. The nation transitions into service workers at lower pay and non-materially productive businesses plus medical care providers. Free enterprise has difficulty surviving hordes of banking and financial predators attacking the manufacturing ungulate herds like the hyena, wolf and cheetah.
The U.S. economy experienced a surge of financial deregulation from the Carter administration letting higher interest rate charges on credit cards to the securitization of mortgages and later Allan Greenspan’s support of collateralized debt obligations and derivatives. The Reagan administration allowed Standard oil to buy Gulf oil during his administration reducing competition in gasoline pricing, and in the Bush II years Wall Street’s major financial firms were allowed through lax regulation and a loose political philosophy of letting the financial market regulate itself to sell derivative and mortgage debt obligations in tranched repayment bond packages to more than 40 times their collateral. The nation had more than 17 trillion dollars in mortgage debt by 2006.
The over-production of house construction and trading of mortgages in a variety of obscure and risky packages to investors allowed Wall Street bankers and traders to collect huge fees-they were stimulated to sell sub-prime mortgages with gouging contract terms to poor buyers doomed to fail at repayment. The financial sector of the economy was soaking up profits and little was being invested in honest industrial and infrastructure growth.
In a way Wall Street invested only in jobs that cannot be outsourced abroad to cheaper production facilities in China. China of course did buy much of the mortgage securities from Fannie Mae and Freddie Mac.
Restarting the U.S. housing construction business cycle may be difficult with so much surplus housing the poor and unemployed cannot afford to buy-maybe the homes should be rented at half price rather than stand empty for a loss.
Honest lenders will be at a disadvantage in a securitized housing finance business environment. Deregulation of the recovered financial sector again may encourage a new housing bubble cycle to begin. Creating jobs in new, materially productive non-outsourcable industry would be a preferred direction in reducing the U.S. employment rate. Those jobs could be in building artificial, hollow mountain ranges for housing, business and hydroponic gardening and retail office space etc. The exteriors would resemble natural ecosystems yet collect solar and wind power. Integrated space for non-fragmented ecosystem continuity would exist along the base.
I have been reading ‘The Age of Greed’ by Madrick recently and become more informed of some of the structural problems of Wall Street and government the last 40 years in directing capital into a spaced out financial sector instead of into manufacturing and modernizing infrastructure in the U.S.A. That will be very challenging to correct.
I learned recently that the U.S. Government extended 12 trillion dollars in loan and debt guarantees during the 2007-2008 financial crisis. Merely returning to business as usual-to a deregulated Wall Street environment allowing the domination of investing in financial instruments for profit instead of businesses for themselves will continue to degrade the content of the U.S. economy as traders look with predatory gaze upon anything that can be leveraged for buy out or collateralized, packaged as debt obligation and resold as derivatives. Real manufacturing capital investment is given unnecessary risk and volatility by the corrupt financial market forces, and inventive material genius is degraded in favor of slick financial skimming genius in the deregulated business environment wherein irrational empirical investment priorities are regarded as collectively rational. If the invisible hand of CDOs and derivatives without regulation is regarded as rational, so might that of a robotic arm under the control of a random pickpocketing program.
6/22/11
Ai Weiwei Back on the Street
It is good that the Chinese Governmemnt has released one of their more creative artists, poets and architects from captivity-China can use creative thought as can the rest of the world to help redesign human socio-economic use of land and sea toward ecological renewability and restoration of biological diversity.
http://www.bbc.co.uk/news/world-asia-pacific-13878859
It is not that the Chinese Government is especially slow and the United States Government quick-witted on ecological economic leadership and biodiversity conservation and restoration. So far as I am aware few or no governments of the world today are constructing ecologically rational economic structures remotely adequately of meeting the challenges to human survival ahead.
Constructing artificial mountain ranges in which humanity can live with a zero displacement of ecological biota or fauna-even restoring quality habitat, while also creating new ways to grow food perhaps indoors and employ democratic principles to vote on private enterprise proposals submitted for development and approved or rated on low entropy and high social productivity criteria-this will require much development by creative individuals such as Ai Weiwei if human survival is to have a good chance in the centuries ahead on Earth.
http://www.bbc.co.uk/news/world-asia-pacific-13878859
It is not that the Chinese Government is especially slow and the United States Government quick-witted on ecological economic leadership and biodiversity conservation and restoration. So far as I am aware few or no governments of the world today are constructing ecologically rational economic structures remotely adequately of meeting the challenges to human survival ahead.
Constructing artificial mountain ranges in which humanity can live with a zero displacement of ecological biota or fauna-even restoring quality habitat, while also creating new ways to grow food perhaps indoors and employ democratic principles to vote on private enterprise proposals submitted for development and approved or rated on low entropy and high social productivity criteria-this will require much development by creative individuals such as Ai Weiwei if human survival is to have a good chance in the centuries ahead on Earth.
6/21/11
A Comment on 'The Age of Greed' by Jeff Madrick and Ecological Economics
This book of review of the decline of the American economy 1970-2011 by Jeff Madrick covers the usual stories of the free market/deregulation overkill that allowed American real productivity to be subverted by wise guy money and finance trading schemes.
Having just read a book 'Where the Wild Things Went' on the decay of the world's biosphere through the elimination of large predators that let the proliferation of small critters occur that in turn over-use the available green resources, I could not help comparing the role of a runaway financial sector unregulated by the conservative belief that all trimming of honest souls is good and the decline of corporate industrial productivity when LBO's (leveraged buy outs) with junk bonds helped pile up U.S. debt. In a way the U.S. public debt is a kind of leveraged buyout of rational economic and political thought.
When successful corporations producing some particular goods with a special genius were undervalued it became even easier to borrow money to buy them up through junk bonds and then sell the parts; subsidiaries, firing employees and so forth after taking over the prey. Over-extended deregulation became a kind of equivalent of allowing the extermination of American wolves, coyotes and so forth that let the deer populations rise an order of magnitude, eat all the flowering plants and others, crash bee populations, deny birds nesting habitat and ruin the health of the forests with even saplings being eaten and only older stands remaining.
Because the Obama generation has been trained to be simultaneously irrational, compliant and greedy I am not optimistic that either the environment or economy will be corrected in a good direction. President Obama has turned his back upon the kinds of innovation that a Roosevelt by have brought to bear to large economic challenges and claims to pre-empt republican leadership on their own goals of creating an irrationally greed driven political and economic system.
It is easy to anticipate that the conservative bulls would be seeking new things to leverage abroad in China, India and elsewhere while concentrating wealth and degrading the quality of life for ordinary people that might formerly have had a reasonably good prospect for a good standard of living.
The conventional U.S. economic posture is light years away from meaningful reforms toward an ecologically rational and balanced physical infrastructure of course. Artificial mountain range housing with wildlife outside wandering upon the slopes, the return of large scale predators controlled by human intelligence and made to live in non-fragmented restored ecosystems. Business models voted upon by democratic processes for actualization through selection for low-entropy effects and improvement of quality of life. Limiting the size of corporations to 5000 employees and the number of corporations any one may invest in to 3. These sorts of things probably will not occur before the end of human life cycle challenges are upon the planet. Oh well.
Having just read a book 'Where the Wild Things Went' on the decay of the world's biosphere through the elimination of large predators that let the proliferation of small critters occur that in turn over-use the available green resources, I could not help comparing the role of a runaway financial sector unregulated by the conservative belief that all trimming of honest souls is good and the decline of corporate industrial productivity when LBO's (leveraged buy outs) with junk bonds helped pile up U.S. debt. In a way the U.S. public debt is a kind of leveraged buyout of rational economic and political thought.
When successful corporations producing some particular goods with a special genius were undervalued it became even easier to borrow money to buy them up through junk bonds and then sell the parts; subsidiaries, firing employees and so forth after taking over the prey. Over-extended deregulation became a kind of equivalent of allowing the extermination of American wolves, coyotes and so forth that let the deer populations rise an order of magnitude, eat all the flowering plants and others, crash bee populations, deny birds nesting habitat and ruin the health of the forests with even saplings being eaten and only older stands remaining.
Because the Obama generation has been trained to be simultaneously irrational, compliant and greedy I am not optimistic that either the environment or economy will be corrected in a good direction. President Obama has turned his back upon the kinds of innovation that a Roosevelt by have brought to bear to large economic challenges and claims to pre-empt republican leadership on their own goals of creating an irrationally greed driven political and economic system.
It is easy to anticipate that the conservative bulls would be seeking new things to leverage abroad in China, India and elsewhere while concentrating wealth and degrading the quality of life for ordinary people that might formerly have had a reasonably good prospect for a good standard of living.
The conventional U.S. economic posture is light years away from meaningful reforms toward an ecologically rational and balanced physical infrastructure of course. Artificial mountain range housing with wildlife outside wandering upon the slopes, the return of large scale predators controlled by human intelligence and made to live in non-fragmented restored ecosystems. Business models voted upon by democratic processes for actualization through selection for low-entropy effects and improvement of quality of life. Limiting the size of corporations to 5000 employees and the number of corporations any one may invest in to 3. These sorts of things probably will not occur before the end of human life cycle challenges are upon the planet. Oh well.
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