Man-made virus born of contempt for accountability and reason

8 Responses to Man-made virus born of contempt for accountability and reason

1. NFA says:

   18 March, 2023 at 5:43 pm

   It’s time to shut down our moronic, mindless RBA.
2. NFA says:

   18 March, 2023 at 6:16 pm

   Crony Capitalism
3. C.L. says:

   18 March, 2023 at 7:06 pm

   More like fantasy capitalism. The contagion begins at the top – the Biden Administration and the US senatorial class, principally – but also every Western government spending increasingly academic money and deranging international finance.

   Don’t hear a lot of gloating lately about how the West is crushing Putin by confiscating yachts.
4. Tel says:

   19 March, 2023 at 9:06 am

   As many people have already pointed out … government bonds are not risk free.

   Buying any long term fixed interest bond during the time when interest rates are low will result in a loss if you run into rising inflation followed by tising interest rates. This is a different type of risk profile to other investments but … as we can clearly see … this type of interest rate situation does really happen, and the large institutional buyers of long term bonds really do make a loss. That’s how you get insolvency in the banks and pension funds … once their real asset value drops below their liabilities they are by definition insolvent.
5. Buccaneer says:

   19 March, 2023 at 9:32 am

   They are not trying to keep a lid on it, they will bail out all the acolytes and let the rest fail, leaving only acolyte banks to pick up the pieces sponsored by government. An effective nationalisation of banks by proxy. https://www.wsj.com/articles/did-esg-help-sink-svb-progressive-climate-bank-bailout-federal-reserve-treasury-biden-insurance-9db64b0b?mod=opinion_featst_pos2
6. bollux says:

   19 March, 2023 at 10:55 am

   There isn’t a single thing going wrong in the world today you could name, that couldn’t be sheeted back to the illicit printing, and easy availability of fake money, backed by nothing except politicians lies. Nothing.
7. Tel says:

   19 March, 2023 at 11:55 am

   The whole ESG caper is an interesting double-edged sword … obviously it isn’t profitable, nor does it really help “the environment” in any meaningful way … it’s a disguised way to buy political favours. Thus, it accelerates the path to commercial failure, but also sets you up to gain the protection of the ruling class. There’s a win-by-losing process underway.

   A perfect ESG play looks like this:
   * Find an existing business that’s doing quite well.
   * Start rumours about how this business is doomed because it lacks diversity, inclusion, social justice, worker equity, and needs more Carbon Credits.
   * Declare yourself to be the hero, fixing all the problems you just invented.
   * Get yourself installed as CEO.
   * Loot the accumulated capital of the once successful business.
   * When it crashes, declare the problem must be capitalism and government needs to fix this.
   * Now also loot the taxpayers with the help of your paid-off regulatory officials.

   I see this as a very fundamental shift in the USA … away from free markets. Sure, the “alphabet agencies” started by Hoover and then weaponized by FDR have been doing the crony busness the same way for 100 years … but Obama/Biden made this a lot more obvious and blatantly political. The leech used to be a drain on the US economy … but now the blood loss has become terminal.
8. Nelson_Kidd-Players says:

   21 March, 2023 at 9:33 am

   The other aspect of ESG is where the influence is coming from, particularly in listed companies. Who is throwing weight around in shareholder meetings? Are institutional investors (Superannuation funds in Australia would be a big one) pushing this? They should be neutral unless acting under the explicit instructions of those who have invested.