Posts Tagged ‘legitimizing the illegitimate’

“Business as Usual”: Legitimizing the Illegitimate

Very interesting, thought-provoking article.

Business as Usual: Legitimizing the Illegitimate

Courtesy of Charles Hugh Smith Of Two Minds

A key goal of the status quo is to label illegitimate looting and fraud as "business as usual."

One of the key goals of the status quo’s propaganda is to convince the target audience that fraud, deception, obfuscation and looting have always been "business as usual" and thus protests are specious. The key technique employed to accomplish this goal is to derealize U.S. history, depriving the target audience (the U.S. citizenry) of any context that does not support the soothing contention that "everybody has always cheated, there’s nothing new under the sun, politicians have always been crooks," etc.

Any history which suggests that the present era of fraud, debauchery of credit, State over-reach and Plutocratic excess is unprecedented or parallels moments in U.S. history which were immediately followed by financial collapse, strife and war is dismissed or expunged from the mass media.

This derealization of history has several moving parts:

1. Emphasize the present unceasingly and ignore the past as irrelevant. The "news cycle" shortens into soundbites and video snippets, eliminating any moment of relative calm for analysis or context. This could be termed induced amnesia.

2. A frenzy of images and emotional content that confuse and numb the audience via sensory and verbal overload.

3. Delegitimize skeptical inquiry and demands for transparency by dismissing our era’s ubiquitous fraud and over-reach as merely typical behavior that has always been present in U.S. history.

This approach is effective because there is a kernel of truth in every admonishment that greed in inherent in human nature. But this appeal to greed as normal (if not "good") masks the reality that previous eras of American history were characterized by robust negative feedbacks which acted to limit financial fraud, deception and embezzlement.

4. Decontextualize scale. If the rentier-financial Elite pillaged $10 million in a previous period of unlimited financial looting and debauchery of credit (to grab a number from the air), then claim today’s looting of hundreds of billions of dollars--adjusted for inflation, a sum a 100-fold larger than the past sum--is "no different than the past, it’s just business as usual."

The goal is to mask the truth that today’s over-reach and embezzlement is very different as it is two orders of magnitude greater and has reached its larcenous claws past the…
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Zero Hedge

China 2018 GDP Growth Slows To Weakest In 28 Years

Courtesy of ZeroHedge. View original post here.

Update: Not wanting to bury the lead, here is some context for the mixed bag tonight from China. China's annual GDP growth in 2018 was +6.6% - that is the weakest annual GDP growth since 1990...

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After downbeat headlines over US-China trade talks, and following ...



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Phil's Favorites

Bogle's Big Mistake

 

Bogle’s Big Mistake

Courtesy of 

The world lost a legend this week. Jack Bogle had a greater impact on the average investor than anyone who ever lived.

Bogle, however, was not an overnight sensation. The index fund, which he is best known for, wasn’t created until his fifth decade on the planet.

I wanted to share the challenges he overcame on his way to cementing a place on the Mount Rushmore of finance with this chapter from my book, Big Mistakes: The Best Investors and ...



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ValueWalk

#1 Performing Global Macro Hedge Fund Sees More Shorts Opportunities Ahead As China Bursts

By Jacob Wolinsky. Originally published at ValueWalk.

Crescat Global Macro Fund update to investors on 1/19/2019

Crescat Global Macro Fund and Crescat Long/Short fund delivered strong returns for both December and full year 2018 in a difficult market. Based on ...



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Kimble Charting Solutions

Stock declines did not break 9-year support, says Joe Friday

Courtesy of Chris Kimble.

We often hear “Stocks take an escalator up and an elevator down!” No doubt stocks did experience a swift decline from the September highs to the Christmas eve lows. Looks like the “elevator” part of the phrase came true as 2018 was coming to an end.

The first part of the “stocks take an escalator up” seems to still be in play as well despite the swift decline of late.

Joe Friday Just The Facts Ma’am- All of these indices hit long-term rising support on Christmas Eve at each (1), where support held and rallies have followed.

If you find long-term perspectives helpf...



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Digital Currencies

Transparency and privacy: Empowering people through blockchain

 

Transparency and privacy: Empowering people through blockchain

Blockchain technologies can empower people by allowing them more control over their user data. Shutterstock

Courtesy of Ajay Kumar Shrestha, University of Saskatchewan

Blockchain has already proven its huge influence on the financial world with its first application in the form of cryptocurrencies such as Bitcoin. It might not be long before its impact is felt everywhere.

Blockchain is a secure chain of digital records that exist on multiple computers simultaneously so no record can be erased or falsified. The...



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Insider Scoop

Cars.com Explores Strategic Alternatives, Analyst Sees Possible Sale Price Around $30 Per Share

Courtesy of Benzinga.

Related 44 Biggest Movers From Yesterday 38 Stocks Moving In Wednesday's Mid-Day Session ...

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Chart School

Weekly Market Recap Jan 13, 2019

Courtesy of Blain.

In last week’s recap we asked:  “Has the Fed solved all the market’s problems in 1 speech?”

Thus far the market says yes!  As Guns n Roses preached – all we need is a little “patience”.  Four up days followed by a nominal down day Friday had the market following it’s normal pattern the past nearly 30 years – jumping whenever the Federal Reserve hints (or essentially says outright) it is here for the markets.   And in case you missed it the prior Friday, Chairman Powell came back out Thursday to reiterate the news – so…so… so… patient!

Fed Chairman Jerome Powell reinforced that message Thursday during a discussion at the Economic Club of Washington where he said that the central bank will be “fle...



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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Biotech

Opening Pandora's Box: Gene editing and its consequences

Reminder: We are available to chat with Members, comments are found below each post.

 

Opening Pandora's Box: Gene editing and its consequences

Bacteriophage viruses infecting bacterial cells , Bacterial viruses. from www.shutterstock.com

Courtesy of John Bergeron, McGill University

Today, the scientific community is aghast at the prospect of gene editing to create “designer” humans. Gene editing may be of greater consequence than climate change, or even the consequences of unleashing the energy of the atom.

...

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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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