Saturday, July 27, 2013

Eso’s Chronicles 191/ 1
Capitalist Radicals? (1)
© Eso A.B.

”, Tyler Durden initiator of one of the few publicly accessible pseudo-‘radical’ financial and business oversight blog sites ZeroHedge offers the following quote from the enfant terrible Kyle :

"China’s direct contribution to global growth is enormous, but perhaps equally as important is its role in generating growth in developed and emerging economies. A slowdown, whether significant or extreme, in the Chinese economy heralds very bad news for asset prices around the world. A growth crisis centered in Asia will further exacerbate the instability and volatility in Japan and have a devastating impact on second derivative marketplaces such as Australia, Brazil and developing markets in South East Asia. The combination of rich valuations and further threats to growth has led us to dramatically reduce risk in the portfolio and actively position ourselves to withstand the uncertainty and instability ahead"

This is not to say that Tyler and Bass have not brought their readers occasional insights into events in the financial and business world, but my complaint is that both sing as the fat lady sings: yes, in the last act, but short of shattering the glass Neither has the guts to tell their audience that for all purposes the show of capitalism is over, and that “…to position ourselves to withstand the uncertainty and instability ahead” and to live out a life, we must let our ‘super’ civilization go fallow and not to reconstruct a society in the throes of destroying itself.

In light of the approaching final crisis of capitalism, Kyle Bass’ observation with regard to the Chinese economy is not only shortsighted, but absurd (and paradoxically brilliant), because the Chinese leadership is clearly bringing war to another level

No doubt, a war where the soldiers go under the name of ‘economic tourists’ will be welcome by all the failing ‘borgeois tourist’ ship lines, even though they risk having their ships sunk on open seas by drone torpedo boats directed by Somali pirates become legitimate.  On the other hand, the Chinese may be able to disembark enough unarmed ‘Chinese Jewish’ emigrants to continents chosen by China’s leadership to act as ‘Chinese liberation camps’ before the selected countries awaken to the fact to their ‘chosen’ status forces them to become guards of their home lands, which the headless Chinese media will counter by calling them concentration camp guards.

Let me try to put it another way (and not put all the blame on the Chinese leadership) that wears shiny suits and ties just like their western counterparts.

Most of us know that contrary to the praise of cities by capitalist businesses, in actuality cities are vast areas of ‘canned’ deserts, where imagination, natural to chameleons, makes money for idiots when it comes to politics. Take for example the East Coast of the U.S.A., which is said to be one long coastal city from Maine to Florida, which originally spread in all directions (about 50 miles inland, but stopped dead by the sea) from such mega centers as Boston, New York, Washington, D.C., and on to northern Florida down south—a dust storm of human intelligence.

However, the oil that lubricates the cities is not the gasoline that runs cars, but money that robs the surrounding landscape of life. Of course, this ‘desert being’ is overlooked when there is money to ‘oil’ it with, and as Jane Jacobs once so convincingly persuaded her readers (this writer including) that the city was in fact an “an engine of wealth” .

Unfortunately, the city also becomes ‘catastrophe in action’ when in the course of time, capitalism has chewed the cud and sucked all its juices and spits it out. As George Orwell is reported to have said: To walk through the ruined cities of Germany is to feel an actual doubt about the continuity of civilization. Today the bankrupt city of Detroit provides us with visual evidence of what the expectorate as a bankrupt city looks like. True, ‘spitting the cud’ is today better known as ‘outsourcing’.

The media of the city serve it as its shamanistic healers and the mushrooms it encapsules are known as Agaric Polypositivisimus. All one has to do is turn on the radio or television and hear and see polypositivisimus in full bloom: the lack of money or its lack of buying power is never mentioned. Happy consumers still flock to shopping malls, and there is nary a mention that banks send the countryside peasants to the woods with chainsaws to further desert-ify our planet and kill wildlife. The hapless ‘would be revolutionary’ can only welcome the attack of the kudzu bug , and thus further facilitate the desertification of our planet.

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