HorneyGeekBoi wrote:Why is everyone assuming bush is an idiot? As opposed, to him knowing exactly what he is doing, and doing it for a reason...
As a result of my values and life experiences, I chose conservative personal finances. Due to my preference for security and prudence, I forgo the opportunity for larger gains and windfalls in exchange for the lower risk and security. It used to be that I could live with this trade-off. However, the last decade (and last few years in particular) have made this choice increasingly difficult. Not only have risky investments been deliberately supported by government policy, but less risky paths have been infected by overspill from the risk-taking activities; worse yet, my very own government is treating me as a sucker. I mean openly, which is kind of new.
The increasing role of federal intervention in stimulating certain segments of the economy and bailing out risk-takers has made it increasingly clear that the choice to be a conservative investor was not only foolish, but is being deliberately singled out for punishment by our own government. The flogging of the prudent investor has moved from sublime to ridiculous, as government officials blatantly enter a mode of panicked bailout of preferred gamblers and spreading misinformation about the situation.
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Dramatic? Perhaps. But I would argue that we are witnessing a very dramatic episode in US economic history. The "end of consequences" and the era of overt elite market socialism? I don’t know yet what I will tell my kids. Something along the lines of: go ahead and be reckless; someone will save your butt – so long as that butt is aligned with the chosen elite butts.
“Never bet against the house”. I get that now.
Thanks,
Minyan Malcolm
One of the most chilling things I’ve ever read was a description of the dual crisis that farmers and the urban poor faced during the Great Depression. During the period, the ability of the poor to pay for food dropped like a stone. At the same time, farmers couldn’t afford to transport food to markets. While there was more than enough food produced in the US during the whole of the Depression millions went hungry, and a surprisingly large number actually starved. Consider this testimony given by Oscar Ameringer before Congress in 1932.
“During the last three months I have visited…some 20 states….In the state of Washington I was told that the forest fires raging in that region all summer and fall were caused by unemployed timber workers and bankrupt farmers in an endeavor to earn a few honest dollars as firefighters. The last thing I saw on the night I left Seattle was numbers of women searching for scraps of food in the refuse piles of the principal markets of that city. A number of Montana citizens told me of thousands of bushels of wheat left in the fields uncut on account of its low price that hardly paid for the harvesting. In Oregon I saw thousands of bushels of apples rotting in the orchards because of the cost of transporting them to market. …At the same time there are millions of children who, on account of the poverty of their parents, will not eat one apple this winter.
While I was in Oregon, the Portland Oregonian bemoaned the fact that thousands of ewes were killed by sheep raisers because they did not bring enough in the market to pay the freight on them. And while Oregon sheep raisers fed mutton to the buzzards, I saw men picking for meat scraps in the garbage cans of New York and Chicago. I talked to one man in a restaurant in Chicago. He told me of his experience in raising sheep. He said he had killed 3,000 sheep this fall and thrown them down the canyon, because ti cost $1.10 to ship a sheep to market and then he would get less than a dollar for it. He said he could not afford to feed the sheep and he would not let them starve, so he just cut their throats and threw them in the canyon.
The roads of the West and Southwest teem with hungry hitchhikers. The camp fires of the homeless are seen along every railroad track. I saw men, women and children walking voer the hard roads. Most of them were tenant farmers who had lost their land and been foreclosed. Between Clarksville and Russellville, Ark., I picked up a family. The woman was hugging a dead chicken under her ragged coat. When I asked her where she had procured the fowl, first she told me she had found it dead in the road, and then added in grim humor, ‘They promised me a chicken in every pot, and now I got mine.’
In Oklahoma, Texas and Arkansas I saw untold bales of cotton rotting in the fields because the cotton pickers could not keep body and soul together on 35 cents for picking 100lbs. The farmers cooperatives who loaned the money to make the crop require $5 a bale in payment. That means 70 cents a day for a picker who can pick 200lbs, and that doesn’t provide enough pork and beans to keep the picker alive in the field, so that there is fine staple cotton rotting down there by the hundreds and thousands of tons.
AS a result of this appalling overproduction on one side and the staggering underconsumption on the other side, 70 percent of the farmers of Oklahoma were unable to pay the interests on their mortgages. Last week one of the largest and oldest mortgage companies in that state went into the hands of the reciever. In that and other states we have now the interesting spectacle of farmers losing their farms by foreclosure and mortgage companies losing thier recouped holdings by tax sales that could never meet the value of the land.
The farmers are being pauperized by the poverty of the industrial population and the industrial population is being pauperized by the poverty of the farmers. Neither has the money to buy the product of the other.” (David Shannon, _The Great Depression_ 26-28)
One of my greatest fears is that the story is about to be repeated. Right now, farmers are struggling to get credit just like all small business owners. The wheat crop is being planted right now - and next year’s food depends on this year’s credit. High energy and fertilizer prices have already eaten up much of farmer’s profit for this year - the point at which it is no longer feasible for farmers to grow our food is not so very far away, nor is it really so alien to imagine that again we might see the failure of the linkage between city and country, the poor digging in the garbage, the farmer unable to plant, unable to keep their land, or throwing food out to rot.
Serial_Worrier wrote:Let 'em starve, don't we need to encourage die-off anyways?
pstarr wrote:the same thing could happen this time around also.
We have a food production system that is dependent on Just-In-Time handling of fragile produce, grains, and meat. Harvest and processing equipment (even the field and farm layout) depend on high-tech automated equipment including infield packing sorting boxing and refrigeration. What happens of a part manufacturer goes bust for lack of credit?
Likewise the distribution of food is increasingly dependent on JIT product flows rather than warehouse storage. Walmart has no inventory nor does our food system.
Most food is heavily packaged and processed. The equipment to do this depends on an entire dispersed infrastructure of part manufacturers and credit. That gizmo inside some fancy plastic wrapper/boxer/humidifier/CO injector was invented in Chicago, patented in New York, built in South Korea, assembled in China and shipped to the final manufacturer in France or somewhere.
It's probably impossible to get a potato from the field to the dinner plate anymore without a team of pHd's and engineers all along the way.
anador wrote:Its a shame the technology of "jute potato sack" has fallen so woefully into obsolescence that its makings are forgotten and its methods will ne'er be re-introduced.
Cid_Yama wrote:anador wrote:Its a shame the technology of "jute potato sack" has fallen so woefully into obsolescence that its makings are forgotten and its methods will ne'er be re-introduced.
Yes, Burlap was all the fashion back then.
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