When The Economist is not distracted by its obsessive hate of Israel, it can think quite sharp. For example, Buttonwood comments on Pauk Krugman's note (carelessly titled "Who are the rentiers?"):
So if rentier rule was marked by sound money, balanced budgets and positive real rates, what do we have now? Two years of quantitative easing, huge budget deficits and negative real rates. 19th century central bankers would regard this era with anathema. That is what struck me as so strange about Mr Krugman's argument.Buttonwood says, if I understood him (and I'm under pressure to finish that stupid metal working factory's design) is that the battle is between the rentier class and the working class, and inflation favours this or that group. Bernanke is working to the benefit the rentier group that owns stocks. He implies that higher stock prices do not create value from the blue sky, but extract it from the working class. We have not advanced one inch from Marx's basic understanding of the economy.
One element of confusion in this argument is the rule of QE this time. It has been designed to push up share prices, as Mr Bernanke and its supporters attest. But it has been more successful (in my view) at bolstering equities than it has in boosting the economy (unemployment was 9.5% in August 2010, when the QE2 policy was unveiled and is 9.1% now). The stockmarket seems to be drifting lower in the absence of a QE3 programme (which Mr Krugman desires). But higher share prices do benefit the wealthy, Wall Street bankers and CEOs. If they are to be defined as the sole members of the rentier class, then he is in favour of handing them a huge bonus.
PS.: חברה, let's be honest with ourselves. As shown in the table above (vide Krugman), 50% of all stock is owned by 1% of the population. Who are the rentiers? asks Krugman. You dont have to read Forbes 500 nor Stormfront to know that too many of them are ethnic Jews. Put that together with what Krugman says, that the American working class is being exploited by the plutocracy aka rentier class, and that the situation is rapidly worsening, you arrive to the conclusion that American Jews should be busy packing their bags. America can barely pay the interest on its debt, so inevitably is facing a period of harsh austerity and social stress. The standard of living has been falling for a decade, soon the dollar will have to be devalued, unemployment and the cost of living will rise. American Jew, what are you waiting for? Sell everything while your stock is worth something and move to Israel. Learn from Argentine Jews who sold their apartments for peanuts. Learn from Soviet Jews who left without anything and even had to pay back the cost of their education. Learn from this old Hungarian Jew. The Shomron is waiting for you.
29 comments:
Reminds me of a presentation I attended a while back, one speaker illustrated how wholesale globalization was enabling rapid wholesale export of anti-semetic conspiracies and artifacts into Asia and Africa that took generations to develop in MENA and Europe but are emplaced quickly. One interesting claim was that Jews did not have critical population depth and that a fortress posture was untenable
I disagree. We have enough population. Europe's 12 million Jews before WWII could have easily mobilized 2 million armed fighters. Unfortunately, in the case of the million strong Jews of Hungary, many of the decorated WWI veterans like my Grandfather, no resistance was ever organized. And look at Israel: we managed to build a small 100,000 strong army that won all its wars and is operating unopposed from Addis to Beirut. Extrapolate Israel's last 100 years to 100 years ahead and be amazed.
And look at Israel: we managed to build a small 100,000 strong army that won all its wars and is operating unopposed from Addis to Beirut.
Small populations easy conquest to numerically superior invader.
China easily vanquish Taiwan if America does not defend Formosa.
J, is this my only choice - either America in range of future anti-Semites or Tel Aviv in range of Iranian nukes and crazy suicide vest wearing Arabs? Can't I move to Shanghai?
K
K, Shanghay is an excellent choice. And I dont really think that American Jews are in immediate danger. What has always saved them from antisemitism is American obsession with the Negroes and nowadays America is so ethnically fragmented that racial discrimination per se is improbable. Yet the concentration of wealth in America is not healthy.
A moderate inflation and low interest regime benefits the borrowers. These include mortgage holders and the working class. Bernanke and Elizabeth Warren should really go after the credit card companies who have not passed on the benefits of QE such as they are to the masses. Whether the Obama man has enough common sense to see this is another question. (Note, I am not a supporter of QE, but if there is to be one let the masses benefit from it.) I suspect that these entities are the most hated of the lot, far more than Wall St bankers and the rotten traders. Rich Jews in the USA merely have to follow Bill Gates lead in not flaunting their wealth to avoid jeoulous rage and envy. Almost every human being can accept inequalities, even gross ones if they are not constantly reminded of their poverty and resultant powerlessness. As a Zionist, I suppose you have to periodically rile up the overseas Jews with nightmarish images, to keep the flame alive as it were, but I do not see any evidence that Jews in the West are in any kind of danger. All that Hitlerian or even the milder antisemitism of the Christians are old stuff long buried with the WW2.
Ivan
Not the Negros the Muslims and Arabs in particular and this is the surest vaccination against anti-Semitic from South Sudan to Sao Paulo the most pro-Semitic are those who have interacted with Islams unchained forms
Europe is well on the way to becoming a no-go zone for Jews (think Malmo, and extrapolate).
As it becomes beholden to Islam, Europe will come under pressure to bomb Israel just as they are bombing Libya now, and bombed Serbia before.
Mark my words.
Anon.
If at all Europe becomes a no-go area for Jews, then a large part of the thanks is due to the liberal Jewish bigots, who steadfastly in the face of all evidence, continue to maintain that the evil Christian Europeans are at the root of their present difficulties. In functional terms, the manner in which the Holocaust is remembered, serves only to morally disarm the Europeans, rendering them unable to face up to invasion of their nations and subversion of their cultures by the Muslims.
Ivan
Europe is not in a condition to bomb Israel. Even if it was, their bombing seems to be quite ineffective, as Ghaddafi is still controlling Lybia. I think the Europeans will soon stop because Lybia is not exporting oil and the Italian economy is suffering.
Regarding Israel, we have 4,000 years old policy of eye for eye. And we mean it. We can take terror and rockets by the thousand. I am not sure the current generation of Europeans are sturdy as their grandparents. Why should they risk Gotheburg?
If at all Europe becomes a no-go area for Jews, then a large part of the thanks is due to the liberal Jewish bigots, who steadfastly in the face of all evidence, continue to maintain that the evil Christian Europeans are at the root of their present difficulties.
LOL, what Jews control Europe? Hitler killed most of them but still Europe's immigration is run by long dead Auschwitzed Jews from grave.
In functional terms, the manner in which the Holocaust is remembered,
So it is the Jews fault for planning Holocaust with Hitler?
Btw, Hitler is hated in Europe for reasons that go well beyond Holocaust.
serves only to morally disarm the Europeans,
They are responsible for their own suicide since there are hardly any Jews alive in Europe.
Fuck you in the ass.
Anonymous, fuck you in the ass huh? Yeah, I forgot those perverts too.
Ivan
The main threat emanates from a none military angle with force a suffix. This is why I do not support the diaspora come home mantra. Suppose the Jewish network which has heavy pull even in the civil rights movement was dismantled the most powerful nation culturally and militarily might turn anti-Semitic . Unlike whites in SA who remain wealthy and in relative peace the Arabs are more vicious underclass. Remember sanctions and bombing came after the tweaked narrative
Suppose the Jewish network
Anyone who believes in "Jewish Network" is paranoid and mentally.
All anti-semites need to be locked away in mental hospitals and probed by Jewish doctors.
suffix - you mean 此后缀 ?
I suggest change your machine translator.
Suffix a la Give a dog a bad name....... I like it when the IDF shows up in Japan or Haiti saving lives with the world watching On the flip side Israeli links with Apartheid were poorly thought out.I guess best case scenario is secular humanity thinking of Israel as defend at all cost Mecca
Ivan yipped:
...In functional terms, the manner in which the Holocaust is remembered, serves only to morally disarm the Europeans,
So I guess the Jews are responsible for European consciousness of having ruled most of the world against its will for 300-400 years? Or was colonialism something the Jews forced the Western Europeans to do for all those generations, so as to "morally disarm" them.
I think after 3+ centuries of all those peoples hating European hegemony, the tyrants finally feeling moral contrition is the aspiration of the civilized mind, of the decent, who recognize the innate value of living by win-win, high trust, and the dignity of the golden rule, rather than as thugs and parasites.
As with slavery abolition and civil rights. And true congrats is in order to such excellent people.
Too much of a good thing, though...like overdosing on curative medicine causes new diseases.
ram
I agree with K about Shanghai before Israel. Better food, secular culture and no nearby Arabs (which is Israel's permanent Achilles heel). But seriously, was the situation in America so different during the Robber Baron era of the late 19th century, at least in regard to distribution of wealth?
Someone once said Singapore is Israel without the Arabs at least the barons built railways and factories, what good are derivatives and consumer trinkets
Let's not forget India.
The "Europeans" will no longer be in charge of their own countries, which will be firmly in the grip of profoundly anti-semitic "immigrants".
Since the new masters will not actually be doing the bombing themselves, which will be delegated to the white dhimmis, they will easily risk it.
It's coming; all the Europeans have to do is lose the uncivil war that's coming first, and we're well on the way to doing that.
Anon.
Suffix - maybe he meant afterthought?
K
ram : I am an Indian Catholic and have only a pragmatic concern with this. I am not the only one to see that for some time, the main beneficiary of the guilty conscience of the Europeans are Muslims and the deviants. European arrogance was brought low in WW1, and finished off with WW11. By and large, their best, brightest, most idealistic, most cruel, basest, and bravest all died in the wars. The modern European has none of those superior assumptions that marked the Westerners in the 19th century. Today they are no different from anyone else.
Ivan
We did not all die, Ivan. The flame still burns.
Anon.
At least one Jew, the author of this blog, admits that the American plutocracy is overwhelmingly Jewish. Given that Jews are disproportionately America's ruling class and enjoy all the pluses of being in the upper classes, why would they give up that success to move to Israel?
At least one Jew, the author of this blog, admits that the American plutocracy is overwhelmingly Jewish.
American plutocracy is Gentile.
It's ridiculous to call American plutocracy either Jewish or Gentile and indicative of bias (either anti-Jewish or anti-Gentile) on the part of any commentator who tries to claim such. Both groups are heavily represented, and although Jews are over-represented compared to their percentage of population, they do not make up a majority of the U.S. elite. They would probably only constitute a majority in the entertainment industry and a plurality on Wall Street and in media. Elsewhere, Jewish representation is much thinner (e.g. manufacturing, advertising, etc.)
Mister Anonymous above: You are not getting my point. Lower for a second the protective shields the Diaspora Jews carry around and follow my reasoning. Half of all stock is owned by 1% of the population. Profits and dividends are produced by the working people, which this 1% is not. They are rentiers. Who are they? Supposing that their ethnic profile is similar to Forbes list of 500 richest Americans, a large percentage (maybe half) are ethnic Jews. This overabundance of Jews among the rentiers does not escape the attention of the 300 million Americans who have no interest yielding savings and live from paycheque to paycheque. It does escape, however, the attention of many American Jews. There are historical precedents of how similar unhealthy situations evolve.
J,
50% Jewish is a bit of an overestimate for the Forbes list, although it's usually somewhere north of 33%. The top 1% of wealthy in the U.S. go well below the threshold for the Forbes list and may or may not mimic its ethnic distribution. It would be better to provide data to that effect than just assert that the distributions are similar, but in your defense, I can't prove that it isn't so.
The historical connection between Jewish wealth and persecution isn't perfect. Jews in Poland and the Pale were conspicuously poor overall but were still persecuted. Of course, you're probably referring to Germany and Hungary in the mid-20th c., but let's not forget that those were ethno-nationalist states, unlike the U.S.
Ultimately J, you're going to have to accept that Zionism isn't going to appeal to all Western Jews. Until Israel develops cooler European-style weather, loses its crazy Arab neighbors, and makes it clear to the haredim that they are free to practice their religion but not free to pump out 14 welfare recipients or arrogantly impose their will on the secular population, I certainly wouldn't want to live there. I'm not holding my breath on any of those points.
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