Submitted by Pater Tenebrarum of Acting-Man blog,
The Problem of Economic Ignorance
The fact that economic ignorance is widespread is really a big problem in our view. Unfortunately even what is broadly considered the economic mainstream thought is riddled with stuff that we think just doesn’t represent good economics. This is not meant to say that there is absolutely nothing worthwhile offered by the so-called mainstream. Often one comes across valuable insights and stimulating ideas. Still, there are a number of very fundamental issues on which various schools of economic thought don’t agree – beginning with basic questions of methodology.
Regarding the place economics should have in our lives, Ludwig von Mises once wrote:
– 16 Major Firms May Have Received Early Data From Thomson Reuters (Rolling Stone, Sep 5, 2013):
Readers may recall an ugly story that broke earlier this summer, when New York State Attorney General Eric Schneiderman rebuked the news/business information firm Thomson Reuters for selling access to key economic survey data two seconds early to high-frequency algorithmic traders. The story strongly suggested that some Thomson Reuters customers were using their two-second head start (an eternity in the modern world of computerized trading) to front-run the markets.
“The early release of market-moving survey data undermines fair play in the markets,” Schneiderman said, back in the second week of July. Thomson Reuters suspended the practice of selling two-second head starts after Schneiderman insisted upon a change. Still, the firm defiantly refused to declare the change permanent and insisted that it had the right to “legally distribute non-governmental data” to “fee-paying subscribers.”
It turns out that there’s more to the story.
‘The Illuminati were amateurs’???
J.P. Morgan is a Rothschild front and the Illuminati do not only control the big banks and the governments, they also took over control of the media a long time ago:
U.S. Congressional Record February 9, 1917, page 2947
Congressman Calloway announced that the J.P. Morgan interests bought 25 of America’s leading newspapers, and inserted their own editors, in order to control the media.
Mr. CALLAWAY: Mr. Chairman, under unanimous consent, I insert into the Record at this point a statement showing the newspaper combination, which explains their activity in the war matter, just discussed by the gentleman from Pennsylvania [Mr. MOORE]:
“In March, 1915, the J.P. Morgan interests, the steel, ship building and powder interests and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press in the United States.
“These 12 men worked the problems out by selecting 179 newspapers, and then began, by an elimination process, to retain only those necessary for the purpose of controlling the general policy of the daily press throughout the country. They found it was only necessary to purchase the control of 25 of the greatest papers. The 25 papers were agreed upon; emissaries were sent to purchase the policy, national and international, of these papers; an agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies and other things of national and international nature considered vital to the interests of the purchasers.
“This contract is in existence at the present time, and it accounts for the news columns of the daily press of the country being filled with all sorts of preparedness arguments and misrepresentations as to the present condition of the United States Army and Navy, and the possibility and probability of the United States being attacked by foreign foes.
“This policy also included the suppression of everything in opposition to the wishes of the interests served. The effectiveness of this scheme has been conclusively demonstrated by the character of the stuff carried in the daily press throughout the country since March, 1915. They have resorted to anything necessary to commercialize public sentiment and sandbag the National Congress into making extravagant and wasteful appropriations for the Army and Navy under false pretense that it was necessary. Their stock argument is that it is ‘patriotism.’ They are playing on every prejudice and passion of the American people.”
So FORGET about the Illuminati (the real elitists) and just blame their bankster elite puppets, their government elite puppets (like Obama, Bush, Clinton etc.) and their corporate media presstitutes for everything instead!!!
George carlin sums it up best:
– George Carlin: The American Dream (Video):
A short excerpt from the video “Life Is Worth Losing” (2005).
That said, enjoy Matt Taibbi’s otherwise excellent article and writing style.
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There’s no price the big banks can’t fix
– Everything Is Rigged: The Biggest Price-Fixing Scandal Ever (Rolling Stone, by Matt Taibbi, April 25, 2013):
Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.
You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”
That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.
Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It’s about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.
– Journalism in the Obama age shows the real media bias (Guardian, Oct 26, 2012, by Glenn Greenwald):
Last month, Vanity Fair featured a major profile of President Obama by Michael Lewis, who was given what the New York Times called “rare” and “extraordinary access”. Lewis “conducted multiple interviews with the president”; “rode in the official presidential limousine”; “was given a special lapel pin that identified him to the Secret Service as someone who was allowed to be in close proximity to the president”; and “flew with the president on several foreign and domestic trips” — “not with the rest of the press corps in the back of Air Force One, but near the front.” And, noted the Times, “the president even allowed Mr. Lewis to play on his basketball team.”
But in exchange for such access, Lewis, unbeknownst to readers of his profile, had agreed to a journalistically corrupt practice – now banned by many large media outlets – whereby the only quotes he was permitted to use were ones the White House approved in advance. Unsurprisingly, the profile was pure hagiography that left Obama’s most devoted media fans gushing with ecstacy.
Though I would have thought it impossible, Rolling Stone somehow just managed to top that profile when it comes to sycophantic, power-worshiping “journalism”. This week, it features a cover story on Obama by its contributing editor, the historian Douglas Brinkley, largely based on a 45-minute interview in the Oval Office. The questions Brinkley posed are so vapid and reverent that it is hard to believe it’s not satire.