cloudy gray times, you are now a thing of the past

The American Stock Market Panic of 1893 was overshadowed by the Great Depression during the interbellum and the hand-wringing of today, but notably was also precipitated by a bubble, in railroads--speculation and over-building led to too many trains and inability to profit and compete, and the first spectre of quantitative easing in the mandate for the US government to absorb the seigniorage (fiat) in backing up the Gold Standard with silver certificates and coin. The crisis was not defused until the discovery of gold reserves in the Klondike and the right-sizing of the transportation industry. These events inspired at least one Broadway melodrama called The War of Wealth by playwright Charles Turner Dazey in 1896. Though Dazey portrays economic turmoil and runs on banks portentously, insolvency did not really hit the financial system as a cause rather than an effect until the Panic of 1907, but I suppose few are interested in seeing the theatrics on Main Street, Wall Street or on Broadway.

you used to ride on your chrome horse with your diplomat

This morning on the drive into work, I was listening to the news in the background, not really paying attention to it. The anchor was reporting on the broad field of Republican presidential candidates for next year’s election in the States, and garbled the name of a former top US diplomat who apparently had been offered in jest a cabinet position, his old post, in the administration.

The reporter named Secretary of State--Außenminister(in)--Hillary Kissinger as having reacted graciously and with good humour to the proposal. That would be a strange mash-up of policies and missions that I can’t even begin to imagine (but would make some good speculative fiction), much less the message and logistical feasibility having reinstating such a figure would entail.

utopian gesture

More toxic yet, I believe, than politicians and their squabbles, though sometimes and in some places they are genuine and productive--the growing pains of democracy and inclusion--but mostly rightly adjudged as corrupt and self-interested, is the attitude, best exemplified in the sentiment of American Exceptionalism and the unsinkable promises and aspiration to maintain the chauvinism and clout of days and decades past (but the USA does not have a monopoly on hubris nor is the USA alone with her illusions of perpetuating institutions as they are). Despite what the prophets of doom are preaching, Europe and America are secure and can provide for their people, but dominance and even identity (tradition within bounds but also grandeur and influence out of proportion) have been supplanted by business and the bets that dictate the limits of sway and how far one can involve or distance oneself.  Crafters of State ought to recognize whether the effort expended is bent on re-capturing old glories--manifest destiny and merry old England, preserving values and norms, or if all that energy is re-directed towards making the landscape favourable for business that knows no borders, cultural or political.  National arrogance, insistent and potentially seductive, is dangerous enough on its own in any context but has the capacity for more damage when aims of peace and true prosperity are edged out by trade and economic demands that would preserve institutions (the topography) at any cost, delusional and empires without end.

wallet inspector or nickel-and-dimed

Rarely I think new policies are introduced without calculated unpopularity, and I think that this is the case with the announcement of one of the biggest banks of America (recursively named) that it will begin charging its customers a nominal monthly convenience fee for using their point of sale debit cards.

All the outrage and resentment that have been generated over this relatively harmless move might be the final straw that causes the public to move their money and quit enabling these too-big-to-fail. If such a mildly unsettling PR failure can bring about revolution, then I am happy for it, but I think the message was instead designed to make the public at large forget about all their past transgressions and focus on this new tangible and across the board policy: never mind all the billions in tax-payer bailout assistance, predatory loans, aggressive and faulty repossessions, casually firing tens of thousands from its own workforce, being generally unrepentant about abetting the whole global financial , and now they have the nerve to nickel-and-dime people for the privilege of using their own money (merchants already pay a premium for renting debt-card machines), which the banks profit from by holding it. I think it will backfire.  One would do better to always use cash: all those electronic trillions in sovereign debt and corporate assets the world around could not fit physically fit into all the bank vaults of the world, if this trend snowballs and that’s quite something for cash-on-hand.

negative reinforcement or forever blowing bubbles

The reigning coalition in Germany has been compelled to make some difficult decisions and try to apply some sophistical cheer to an approach to the debt crisis that's been shown to be a costly failure. The public needs convincing that their tax monies are not being squandered and that this rescue package is not just a furtherance (kicking the can) of the same game, same irresponsibility and same greed that's bigger than the public's interests or hopes or aspirations. Such dishonesty and futility is being broached, I'd venture, mostly because of the berating and scolding that the European Union as a whole received from a very paternal and ironic United States: blamed for the global financial crisis and blamed for perpetuating fear and manufacturing and hiring timidity through its inaction. A lot of unsolicited advice has been traded since the public became aware of this Great Game but never in the form of an official rebuke and lecture. I hope the EU does not fold to this sort of pressure, since its only in the interest of the States and the Elite Them to stoke a virtual euro bubble. It's all hearsay.

Speaking of economic bubbles, Magic Eight Ball is indicating that the next boom and bust cycle may lie in the agricultural business--in food and drink. Cows and cars are already competing over fodder, leading to shortages and price inflation all around. I'm afraid that there will be a land-grab of the limited suitable fields and pastures, just like the exuberance that accelerated property prices during the Housing Crisis only to fall and to dash greed as well as livelihoods. There will probably also be action to turn more small farms into franchisees of agribusiness conglomerates, like the unstinting corporations that have put genetically modified crops, biofuels and corn-syrup into the food-chain. There are more of us to feed and only so much space left to grow what we need, without further decimating the environment. Hitching up home prices to a dangerous and unsustainable height was bad enough--it's scary to try to imagine how the situation might look with more immediate and needful provisions.

marching orders

This is not the timeliest reporting, but after being in effect for eighteen years, it is nice to actually see the repeal (DE) in print and on official stationary. Of course, what comes after all the talk, debate and vitriol is important and mending, but this final formality seemed already in place and triumphant for quite a while. The memo was just now disseminated to our level, and though that's a rather typical internal pace, news does find other avenues and outlets.

cogitative bias

The waves of panic in European banking stocks and in the overall American market over EU fiscal discipline and future of the currency-bloc seems to me a bit disingenuous. Battering the creditworthiness of certain big banks or the ability of some member states to adhere to their imposed self-improvement plans. After all, it is in America's interest to promote this particular sort of torment and agony, since it masks its own regulatory and supply-side shortcomings and, moreover, it is in the better interest of the USA to keep the euro over-valued and the dollar weak. Should the euro wane, the American export market would suffer from cheaper European competition, and resources, priced in dollars, would become more dear. Defaults and the perception of defaults might hurt business profit in the short-term but not people, productivity and the marketplace in the long-term, and the policies and mechanisms that will be developed to redress bankruptcy will ultimately translate to a strong and stable European economy.

try to remember that kind of september

Pausing to reflect on the events of 11 September and recalling the sorrow shared over the fact that the perpetrators, whomever they might be, felt that what they were doing would result in a greater good, however that might be measured. The events and the reverberating response, magnfied and rippling through the years, are tragic and with little solace.

The conditioning (the "new-normal"), posturing and policy that came about through loss and fear projected should not be coddled and commemorated like the endless state of war and blind vigilance these prevailing attitudes have inspired. For those who suffered personal loss on 11 September or in the decade of conflict and incarceration that followed should never be expected to forget or move on and should be allowed to grieve in their own ways, but no matter how sadness is screwed up into revenge, hate, vitriol and unthinking, I do not believe that the legacy of those losses of that day and of the days and years that followed should be transmuted into practices and protocol that have radically changed things for the worse, bred intolerance and curtailed liberties.

That's the other shared sorrow, and that is no tribute and a grave dishonour. Too many words already lost their meaning in theatre and farce.  If anything the solidarity and the recognition that we all belong to one another, should be the point-of-departure of 11 September and not what's been sown.

9/11^10

This is morning in America. Ten years on as the anniversary of the attacks approaches, and I have to wonder if all the devotion to security theatre, terrorism has become a rather specious subject, methods and efforts vilified by a marked absence.

Marshalling armies for such a pageant has not left an abundance of resources for calling together militias for other causes that have been eroding during the past decade. What happens in the within the American sphere of influence is far from all gloom and grime and there are still much charity and vision coming from there, but from the periscope of living abroad and what pushes the news, it seems like a national will has been lost and edited away like it was never there to begin with. Potential for earning a livelihood is anemic, the disparity of wealth has spread, citizens in terms of values and priorities have never been more polarized and desperate for demagoguery, communities are at odds with one another, infrastructure is crumbling and little has been invested for the future. Maybe the legacy of 11. September is not in heightened security, mistrust, loss of privacy but rather in the demotivation of reactionaries, always struggling to respond--irrespective of scope or scale, instead of building that is enduring and comprehensive. Very serious people in very serious forums, not lampoons or satires, are spouting off all sorts of causes to rally around that really defy belief: security theatre has expanded to all sorts of absurdities that Americans can be bothered to heed. That's another morning in America.

manifest destiny

 In an unrequited display of nostalgia for fading imperial muscle, the US Internal Revenue Service is poised to unleash a slew of regulations and reporting requirements that will make foreign banks and businesses unwilling agents of tax-collection. This cannot end well--given that--following the example in the article, a foreign bank with American holdings, investments, bonds, treasuries, has to expend caution, time and resources on the citizenship of each and every depositor-- and the money-lenders and underwriters may well avoid doing business with Americans altogether. Bankers and economists all over are deriding this parasitic hubris, not wanting to take the responsibility for doing a job that the US government cannot manage itself. America's tax regime, for individuals at least, is overly-ambitious and unique in that in seeks its share of earnings, regardless of where they were earned and where one lives--and this they demand outside of the arrangement of any standing tax treaty.

Shirking one's obligations harms others, especially when one expects to be afforded the protections and support of one's country--however, I think this whole proposal is vindictive and misguided and won't repatriate revenue, the IRS already cannot handle its regular caseload though it expects to shift through the wisps of international banking, and also given that the US government might try to shake down, strong-arm and intimidate individuals for loose-change yet demand no taxes from its huge corporations, whose continued profits through tax-payer funded bailouts (Rettungspakets) have neither translated to creation of new jobs nor market stability.

nom de guerre or incite-a-riot

Some European politicians are making well-intentioned calls, with the massacre in Norway and street riots in England fresh on the public conscious, that networking sites and commentary refuse made-up names or (pseudo) anonymous contributions in order to prevent circulation of hate-speech or organizing chaos. Some instigators have always cowered behind anonymity when disseminating destructive suggestion to avoid catching any of the blame when things end badly, and though most faceless pontiffs only go so far, speech and expression are protected, for one, to keep tyranny in check. The paradigms of the Arab Spring do not owe their existence solely to tweets and spasms but the democracy movement certainly would have managed a different pace without networking tools and the privacy that the internet can afford. Mobilization of thuggery, as characterized by some, is a frightening thing but internet crowd-sourcing and crowd-control has not completely managed to transform the population into lemmings.

Those motivated for a cause can discern between leadership and cowardly advocates. Meanwhile, this Orwellian crack-down has already come to pass, autonomously--without discussion or policy-debate, locally enacted without a higher-mandate, which is illustrative of the mindset of some people, over the weekend on the platforms of the Bay Area Rapid Transit (BART) system in and around San Francisco, California. In response to the killing of two passengers by BART officers--which is another disturbing insight into the mindset of some, when a bus driver is licensed to kill--supposedly a protest rally had been organized. Though the planned rally did not take place, wireless services were disabled to prevent further, real-time coordination by the unruly mob. These broad powers to take a group or individuals offline because they might incite a riot is disturbing. No one wants authority figures to decide what is seemly and warranted--and I suspect that most listened when their mothers admonished, "if all your friends jumped off a bridge..."--but it certainly seems even more dangerous to let a protest escalate into a violent confrontation with multiple bystanders with no way to call for help.

sisyphus or the united states of austerity

The American economy, industry and stability has ventured into very uncertain territory. After the enduring the battle of the wills that nearly resulting in a suspension of government services and furlough, I kind of lost interest in the posturing and mime that pushes the crisis but affect no real positive good. Some have described the atmosphere in Washington as bellicose, and though the work of exercizing democracy is not meant to be neat and courtly and hard decisions face America, it seems that the will and welfare of the people is not what's being won by all these histrionics and summoned rage.

No long-term solution has been found, and while debt and spending are unsustainably high, erosion of employment opportunities and physical and social infrastructure impose a bigger threat. The notion of American identity is challenged by the loss of that fleeting American dream, American exceptionalism and also the loss of military supremacy. Public health is not being championed, but rather only the rolling, regimented faith and confidence of the broader markets, not allowing the fear and frustration other outlets of expression. Debt is fleet-foot, threatening to obligate everyone futures with the toil of money already spent. Rather than fostering ways for the country to grow itself out this tangle together, secretive panels have been deputized with the task of chipping away at a mountain of outlays. People won't so be able to look beyond the childish antics that staved off any real debate and transparency and won't ignore what's been eschewed, and the cycle has only been primed to continue. Insular or expansive, this drama will be carried out over a succession in a long run of bank holidays, beginning when America faces up to the task of drafting a budget for the next fiscal year, and then when austerity panels fail to meet the quotas, and the build up to the 2012 presidential elections, and then when the credit rating agencies--to maintain any semblance of credibility--downgrade the US, and so on.

evasive maneuvers

First seeing the headline that US pensioners might be affected by the looming national borrowing frontier, I scoffed a little, wondering why anyone would proffer such a new worry, reviving the fears and panicky behaviour of a few months ago of a government-services collapse. That was a battle-of-the-wills too, to see who would risk compromise or be obstinate on blame. I thought the pronouncement was only some reporter glomming on to one phrase and appeal that was not meant to be showcased--that is, until I heard the same scary news picked up by German broadcasters. Maybe it is still just a threatening projection, because I think too the rest of the world is prone to gawk at a country that would just shut-down or threaten to do so. I don't think there have been accords by the polarized political parties and talks have not progressed, but there have certain been some exercises in creative and critical think. Apparently, mostly without such theomachy, the US president has asked and been granted lifting the debt ceiling about one hundred times in the past, having exceeded what the US Congress had appropriated in the fiscal budget. Some are proposing a bit of theatre, legal fiction, to give the office of the president autonomous authority and responsibility to raise the legal borrowing limit, independent of congress. This does not create extra money or save social programs, but it allows for no deflection of responsibility (de facto but not in fact since all agencies are responsible for their own fund management). Further, this shifting of blame may prevent delay of the US government defaulting on its obligations (to creditors, and to its people) but taking on more debt, regardless--for example, in August, the government is scheduled to make $23 billion in Social Security payments but only expects to generate $12 billion in taxes on the day outlays come due, and unable to pawn more debt, the government can only spend what it takes in--only restores allocations' and appropriations' role, again threatening a government closure. I don't know what can be done but there is no choice between supporting corporate or public welfare and the two should not be stood up as warring standard-bearers.

eight-bit or the red-coats are coming

The military, especially the US army, has an expensive fashion-sense. I understand the role is of fatigues and battle-rattle to help keep soldiers safe and inconspicuous but a lot of changes seemed to be pushed through all at once, the repeal of DADT besides. The reviled standard issue black berets went away and combat boots changed, Velcro badges, and now the introduction of the latest camoufleur pattern to be field-tested downrange in Afghanistan. Surely, it is pricey for the government to award all these apparel contracts, and it’s at a cost to the individual solider too, who though issued uniforms end up paying for it on store credit (not to mention the dry-cleaning bills) like a carefree troop of novice flight-attendants. Here, a deploying unit is in formation with the rear-detachment, who will stay behind. The juxtaposition is interesting, and I do like the new retro-camouflage a lot better than the pixilated old one. One got used to it and I suppose the uniforms become invisible though no one really blends in. The new so-called multi-cam has a classic look, single and in the right sun, the colours almost look like a trained, super-imposition of an old Kodachrome photograph, instead of some cheap and over-done CGI special-effect.

national lampoon

A few weeks ago the Onion reported that a think tank in Washington concluded that all of America’s economic problems can be attributed to the fact it was built on top of an ancient Indian burial ground. A few weeks before that, some clever person through the looking-glass started collecting the musings and the outrage of people who do not realize that the Onion is a news parody, whose commentary probably is more telling that most journalism. That jokes and pranks can draw out the same sort of internet hissy-fits is pretty telling as well. What is truly funny does not go stale.

Vor wenigen Wochen gab die Onion ein Bericht, der kommt zu dem Schluss, dass die Depression der amerikanischen Wirtschaft erwächst vollständig aus der Tatsache, dass das Land liegt auf einem riesig, vorzeitlichem indischem Begräbnisfeld (wie im Film ,,Poltergeist’’ – hier findet man solche Kultkino Kreationen). Und aggregiert davor ein geschickt Gruppe den Empörung an Menschen ohne Kenntnisse dass die Onion haben die Nachrichten parodiert. Manchmal sagt Parodie mehr, als jede wahr Nachricht, genau wie Leichtgläubigkeit. Obwohl nichts Neues, versauern nicht was lustig ist.

good humor man or insular empire

The electronic edition of Der Spiegel (auf deutsch) picked up on a an overlooked interview on National Public Radio with a retired military commander about the grand reckoning of war costs. War is expensive all around and there are untold costs in human life and livelihood, but the economic price at least ought to be a knowable factor and bear semblance to reason and mission. It was established since years that the biggest single expense in waging wars in Iraq and Afghanistan was fuel, transportation of huge amounts of it even to oil-rich lands and keeping the mammoth fleet and patrols in operation, but the NPR interview expounded on the profane detail that maintaining air-conditioning in the desert heat across America's hundreds of camps costs forty billion dollars annually.

This sort of budgeting represents more than the annual allotment for NASA, and certainly more monetary support Public Radio has seen in its life time. It is astounding what other programmes for health and well-being are being defunded in the face of a budget crisis and diverted to dubious battles. I wonder what company is realizing profits with some sham comforts-of-home argument rather than working to bring soldiers actually back to their homes. Moreover, I am sure that all the logistics are contracted out to agents that wouldn't relinquish the job without a fight and let the military do its own terraforming--or choose to forego some measure of luxury. It makes me wonder what the value of forty-billion dollars is in the end, when the Greek Tragedy and the Tea Party Budget Impasse have erupted over less and that much can just be blown out as exhaust. Dollars, given freely and without stint, are not automatically something ennobled.

artful dodger

There has been a rash of headlines from all over the United States, disturbing yet fascinating, about metal thieves poaching copper and other scrap from all sources, without discrimination or regard for safety or cost to the public. There have been multiple reports of gangs dismantling rail road tracks causing trains to derail, stripping utility poles, antique fittings and fixtures or unthreading the copper condensing tubing from air-conditioning units. To replace this old infrastructure will certainly be expensive, not even beginning to consider the hardships individuals and municipalities are facing to find support systems taken for granted have been pulled out from underneath them. These crimes are desperate, with gold and silver already priced out of the market for most--and melting pennies is not a productive activity since the copper content of cents has been replaced with zinc, and the US Secret Service, as part of its original task to prevent counterfeiting and protect the money supply's integrity, have made it illegal to deface bills and coins. I wonder what the composition of these gangs are: a pick-pocket band of Dickensian street urchins, a swarm of nano-sized robots picking things clean like termites or a plague of locusts, copper hungry Vogons, or a mad-scientist trying to build a Voltron. I wonder what this junkyard trend forebodes for the economy.

Amerikanischen Metalldiebe sind in jüngster Zeit in die Schlagzeilen geraten. Ohne Rücksicht auf die Gefahr oder öffentlichen Preis, abwerben die Bande aus allen Quellen: Bahngleise, Leitungsmasten, antik Einbau, oder Rohre vom Klimaanlagen. Das Ersetzen dieser Infrastruktur wird teuer sein, und Gemeinschaften leiden den Verlust des Unterstützungs-systemen. Diese Verbrechen sind verzweifelt versuchte. Gold und Silber halten für die meisten Leute zu kostspielig, und das Schmelzen von Pennies für Kupfer geht auch nicht--denn das Hauptmetall Zink ist. In der ursprünglichen Tagesordnung sollten die US Geheimdienst der Geldmenge wahrnehmen. Es ist strafbar, Geld zu ändern oder zerstören. Wer sind die Mitglieder dieser Rotten? Taschendiebe aus der Zeit von Charles Dickens, schwärmenden Nanotechnologie, Metall-hungrig außerirdischen Leben, oder ein verrückte Wissenschaftler mit einem grossen Projekt? Ich muss mich fragen, was genau diese Schrottplatz Entwicklung für die Wirtschaft bedeutet.

hate something, change something

The Huffington Post has put out a nice editorial piece that is a profile in account-ability and sobering recognition that it is us (all of us) that is plotting to murderlize the goose-that-laid-the-golden-egg. Desperate American and global economic reports are becoming undeniable and compel solutions--and perhaps inviting everyone to join the dialogue, instead of just those boxed into a corner already and the prophets of doom that will realize some revenue from the downfall itself. The article brings up the subject of sunk costs (spilt-milk) and the search for blame and cause in the housing crisis is a distraction. Joblessness is a much more immediate peril than diminishing resale value, projected and estimated worth--and more Americans are falling on tough times because of bleak employment opportunities. There is a lot of suffering and the government is not being a very good advocate by looking backwards. Ways to move forward would include regulatory reform, massive public-works projects, and equitable taxation. One other aspect, however, that is not being loudly discussed is amnesty and forgiveness. No business wants to sacrifice bad debt and defaults willing, but the drive to collect on everything owed, either predatorily or unwisely committed to, and lay claims to already saturated industries is putting too much pressure on the goose.

Das Huffington Post hat ein nettes Heraus-geberstück (auf englisch) ausgestellt, das ein Profil in der Verantwort-lichkeit und ernüchternder Anerkennung ist: uns selbst (wir alle) hatte, der die Huhn, die goldene Eier legt, geschlachtet. Verzweifelte amerikanische und globale Wirtschaftsberichte werden unleugbar und fordern Lösungen. Vielleicht lädt diese Aufmerksamkeit jeden ein sich anzuschließen. Vielleicht jetzt wird das Gespräch auf Profitmacher nicht eingeschränkt. Die Suche nach Schuld in der US-Immobilienkrise wird verlorene Aufwendungen. Wertvermehrung ist weniger wichtig als Erwerbsarbeit. Es gibt viel Leiden, und die Regierung ist unverantwortlich, indem sie immer nur zurückblicken. Reform-Dialog, öffentlichen Aufträgen, und Steuerreform kann wegweisend sein. Zusätzlich gibt es die Idee von der Amnestie und Schuldenerlasse. Keine Gesellschaft will einen Gewinn verpassen, aber Gier tötet das Huhn.

invisible hand

More and more people are beginning to realize that those bellows that fed the world economy have dwindling endurance when it comes to long-term forecasts. America is no different than nations labeled on the verge of insolvency that threaten to destabilize the European monetary union, except for the important fact that the US is rotting from the inside out. In municipalities across the US, local jobs and revenue have vanished, partially because of debt and default precipitated by the Housing and Mortgage Crisis that culls less in property taxes and restricts what services local governments are able to support. Without civil salaries to contribute to private economy and without the need for contractual services to supplement the public sector, America will never be able to not only inspire confidence but also have that faith backed by faith and not performance, since there is little opportunity for entrepreneurship either. Compared to the fundamental problems of the jobs market, the idea of the legal debt ceiling seems like an abstract codicil that makes things sound even worse. It is a little less embarrassing than a shut-down, but that the US government is running day-to-day operations, having surpassed its allowable borrowing limit, with accounting tricks, is also not very inspiring.
Faced with the same prospect of sovereign default as Greece, Spain, Ireland and Portugal, Europe's "local" crises and the US regional market health could seem very similar but that comparison is, I think, superficial. Stewardship of public monies may have been lax and greed turned each government on to the wrong kinds of schemes, and as a result, government services will suffer and are being curtailed. Failure of government to be able to look after the welfare of citizens to the point where taxation becomes oppressive, there is less and in return, and young people are forced to leave home for hope of better employment is tragic and never overstated, but Default and remediation are far less important than keeping peace and prosperity and are far less mortal when there is something behind that veil of national creditworthiness and balance of trade.

Jetzt beginnen Immer mehr Menschen, das die Wirtschaftsmotoren verlieren weiter an Schwungkraft, warzunehmen. Amerika ist nicht anders als jene nationalen Wirtschaften, die der Stabilität der Europäischen Union drohen, außer der Zusammenbruch von innen heraus. Stellen und Umsatzkomponente werden in den Gemeinden im ganzen Land abgebaut, auch weil das Immobilienblase droht. Kommunalverwaltungen verlassen sich auf Vermögenssteuern, und Häuser haben Wert verloren. Ein Dominoeffekt folgt, der die Wirtschaft nicht zu fördern. Ohne beide staatlich und privat Geld kann Vertrauen in American wiederherzustellen. Sicherheit im Arbeitsmarkt kann sich mit Erhöhung dem Neuverschuldung vergleichen, aber es ist für die Regierung peinlich wenn die Ablauf des Alltagsbetriebs halten mit Buchführungstricks am Laufen. Angesichts die selber Staatsschuldenkrise wie Europas ortsspezifischen Problems, an der oberflächlich ähnliche aber strukturell verschiedene Aufgaben nacheinander bearbeitet werden, könnten nun einer ehrlicheren Analyse bedürfen. Der Schutz von öffentlichen Geldern war sehr locker, und Habgier verursachte die falschen Arten von Investitionen. Somit öffentliche Dienste werden verkürz. Der Verlust der Chance für die einträgliche Beschäftigung und bedrückende Besteuerung ist Misserfolg der Regierung. Dieser tragische und wird nie übertrieben, aber Verzug und Wiedervermittlung spielen keine so große Rolle viel als das Halten des Friedens und Wohlstands. Solche Dinge sind viel weniger Sterblicher, wenn es etwas hinter diesem Schleier der nationalen Kreditwürdigheit und des Handelsbilanz gibt.

senatus

An interesting German jobs market report came out of Leipzig, which mirrors one aspect of the anemic employment recovery in the US.

The analysis of career prospects for younger people entering the workforce shows that wages and chances of meaningful advancement are relatively low compared to historical levels. Even though the fluctuating US unemployment numbers sometimes suggest improvement, deeper scrutiny, however, reveals that there is disproportionate joblessness for younger people and those jobs that are returning are not nearly of the caliber of those that were lost and are not coming back. Despite Germany's Wirtschaftswunder, poor prospects and disenfranchisement for the young led all countries towards gerontocracy, rule by the council of elders that can turn into feelings of oppression. Wise, experienced counsel ensures good governance and continuity but also tends to want to maintain its own standard of living, and there are simply not enough resources, conventionally, on the poor old planet to keep billions, young and old, professional engaged. Incumbents of course should not be edged out and I think that would be a nightmare form of labour revolt, persecuting the past generation for the sake of up-and-comers--and a strange reversal of the retirement-contribution paradox. People everywhere need to become innovative in creating markets sustainably, and not jobs tethered to old profligate ways. Business is about scarcity but need for service and fulfillment is virtually inexhaustible.

Ein Leipziger deutscher Job-Marktbericht ist interresant, und dieser Bericht ist einem Aspekt des schwachen amerikanischen Wirtschaftsaufschwungs ähnlich. Berufsaussichten für jüngere Leute, die in die Belegschaft eingehen, haben niedrigere Löhne und weniger Chancen der bedeutungsvollen Förderung. Gegen oberflächliche Indikatoren der Verbesserung gibt es noch hohe Arbeitslosigkeit für junge Leute, und die Qualität von Jobs sind nicht dasselbe wie zuvor. Trotz Deutschlands Wirtschaftswunder führten schlechte Aussichten und Entmündigung für den Jungen Leuten alle Länder zu Gerontokratie. Weisheit und Erfahrung machen gute Regierung und Kontinuität aber es bewahrt auch selbst. Es gibt nicht genug Mittel (im klassischen Sinn) auf diesem Planeten, um Jobs allen zu geben. Die ältere Generation sollte nicht entlassen werden, um der jüngeren Generation zu helfen. Das würde ein Albtraum sein, und es macht Finanzierungsruhestand paradox. Kreativität muss Jobs unabhängig von alten Denkarten, beschränkten Mitteln und Marktluftblasen. Geschäft ist Knappheit, aber das Bedürfnis nach dem Dienst und Erfüllung wird nie erschöpft. Geschäft ist Knappheit, aber das Bedürfnis nach dem Dienst und Erfüllung wird nie erschöpft.