One important lesson on economics from someone who’s picked up on a few things…

Put basically: If they’re offering it to plebes like you, the bubble is about to burst.

There are numerous economic bubbles in past and present. The stock bubble. The internet bubble. The housing bubble. The quantum chocolate bubble. Okay, I just wish there was a quantum chocolate bubble…

The point is, bubbles are just like pyramid schemes. Sooner or later, they’re going to run out of people to sell it to and the whole shebang is going to fall on top of whoever’s stuck on the bottom.

That usually means the “sucker” portion of the common throng. The people who believe they’re going to get rich by investing everything they own on a shanty-house in BF-nowhere that the bank says is worth tons and that said people can’t possibly repay inside of ten lifetimes.

The people who genuinely believe that sending a letter to five friends will result in a vast fortune arriving to them by mail.

The people who really think that some wealthy person in Nigeria [or wherever] is going to launder their millions through a plebe’s bank account.

And the people who think pyramid schemes really, really work.

Let me run through some math. Person A decides to start a little scheme selling otherwise worthless pieces of paper as part of a pyramid scheme. He sells to ten people and gives instructions to each to sell to ten more. They remove their names once they’re at the top of a list of ten people.

On the first iteration [the first sale] there are 11 people in the loop.

Second iteration, 111 have bought in

Third, 1111.

Fourth, 11111. Fifth 111111. By the sixth iteration, you’ve reached over a million people. By the ninth, one billion.

There are about sixty billion people on this earth, the last time I checked. At that rate, you’re going to run out of suckers. And the last people to buy in are always the first to cop the consequences of falling for it.

Same principle with [Mad-Lib here] bubbles. The richest people get hold of said maguffin first, and sell it at inflated prices to those lower in the economic scale as an investment opportunity. Increased demand equals increased value, and a few of the lower echelon sell it down, again at an increased price, to those slightly beneath them.

Lather, rinse and repeat for a few iterations and Joe Schlubb and his neighbours are all desperately trying to sign you on to Maguffin Inc.

Only the skeptics can survive bubbles with their fundings intact. Them, or the people who started it in the first place.

If you’re at a sales pitch and they mention the wealthy’s secrets to getting rich, leave. That’s a sure sign you’re about to be bubbled.

I'm assuming Anonymous already has plans...

There’s an instruction manual containing words that can get anyone who uses them on a terrorist watch list just for using them online.

Lots of them can be used in completely innocent ways. For instance: telling all the folks in InternetLand all the words that you’re not allowed to use any more.

How long, folks, before there’s an online competition to use as many of these words as humanly possible in a completely innocent post?

And since this is also publicly available, now the terrorists have the list too. And they can come up with innocuous substitute code words or phrases and thus avoid detection.

Way to go. Is there any worse way to screw this up?

(Source: esmitts)

wlwhee:

America. 

Reagan’s on the wrong side. He was the champion of “trickle down” economics and tax cuts for the wealthy.

(via diamond-sutra)

What’s happening, OWS?

I do not believe for one second that OWS has fizzled out. Especially overnight.

Given all the laws and whatnot flying around, and the protests and outrage concerning them, I can only guess what’s happened in the space of twenty-four hours

1) They arrested absolutely everybody and haven’t told anyone.

2) They’re censoring everything OWS.

3) Corporate America suddenly realised there’s bugger all elsewhere to go once they’ve finished raping America and have had a sudden influx of human fellow-feeling. As a result, they’ve spontaneously decided to quit being evil.

4) Nobody’s had time to say anything ‘cause they’re all too busy watching the pigs fly by.

I bet you can guess I think the first couple aree more likely.

Can someone pease fill us in about what’s going on?

America is going to eat itself

…and possibly take most of the world with it.

Just because I haven’t been contributing to the OWS threads, lately, doesn’t mean I haven’t been keeping track of things.

One thing I’ve learned from the patterns of history is this: If a nation does not stop itself from an impending fall, it will plummet all the way to the bottom and then some. Especially if it’s been warned by everybody and their kid brother’s dog.

The POTUS is clearly not in charge. He has to bow to the will and whim of his owners.

So does the senate, and every other elected official out there.

The corpratocracy will keep abusing the system, keep wringing every last groat out of the monetary system until all that is left to consume is itself. They’ve already started in some areas.

The tipping point will come when the corporations will no longer support the expenses of their guardian arm (the police) - and dispose of it. They will either insist on an army forced to go in against family and friends… or bring in foreign mercenaries.

At which point, the police the corpratocracy trained will join against a common foe to oust, rout and destroy the corpratocracy and all the individuals therein. Including innocent folks who were too afraid to speak up for fear of losing their jobs. That’s you, currently vocal 53%. Pay attention.

It’s all going to get nasty, and bloody. And bloody nasty.

I know the corporations don’t give a shit. That’s their problem.

I also know that the people are currently divided on the issue. Not for very much longer.

The police and the armed forces are one bouncing paycheque away from lining up their former executives against the wall. Or burning mansions. Or lynching rich people just because they are rich.

Gated communities will be put under siege.

Washington, New York and Beverly Hills are going to burn.

This state of madness must be stopped before it starts.

[Penned on the 25th Jan]

Behind-closed-doors anti piracy move threatens to enact SOPA/PIPA/ACTA without Govt approval

Something needs to be done about this ASAP. If not earlier.

mikeo56:

Bank of America Gets Foreclosed

Bank of America has little patience for homeowners who have fallen on hard times and behind on their mortgages.  The lending giant is in the midst of foreclosure battles in every state as well as defending against allegations that they engaged in fraud and misrepresentation during the foreclosure process. 

Given all the increased scrutiny you would think the bank would be extra diligent before pursuing homeowners in court.  Think again.

First the mega-bank wrongfully foreclosed on a couple who had paid cash for their house (and thus not only did not have a mortgage with Bank of America but owned title to their property free and clear).  Then, when the couple fought the mistaken foreclosure, Bank of America refused to back down, insisting they owned the home.

When Bank of America lost the foreclosure action they were ordered to pay the couple’s attorney and court fees, since it was Bank of America’s error that brought the action in the first place.

Instead of paying those fees promptly, Bank of America let the bill sit for over five months.  Tired of banks getting away with actions that can throw an average citizen in jail these days, the couple and their attorney had a stroke of genius.  They foreclosed upon the bank.

The action got the attention of the bank.  After an hour of being locked out by bailiffs while their furniture, computers, and cash in the till was seized, the branch manager was able to get the couple and their attorney a check for the fees owed.

The actions of Bank of America says everything about the attitude permeating lending institutions in this country.  They abuse customers and non-customers without so much as a second thought and ignore the rule of law at will.  And while the “little guy” turned the tables here, you have to wonder just how many more stories like this are out there, only the homeowners were too scared, confused or just plain beat down to fight back.

Senior Citizens Occupy, Shut Down Bank Of America

A dozen senior citizens calling themselves “the wild old women” succeeded in closing a Bank of America branch in Bernal Heights on Thursday.

Toting walkers and wheelchairs, the “wild old women” certainly weren’t the most rambunctious group to fight for the interests of the 99%, but they did cause the branch to close and lock its doors, much to the protesters’ surprise.

“We’re upset about what the banks are doing, particularly in our neighborhood and neighboring areas, in evicting people and foreclosing on their homes,” protester Tita Caldwell, 80, told KCBS. “We’re upset because the banks are raising their rates because it really affects seniors who are on a fixed income.”

Bank Transfer Day saw a billion dollars moved out of large commerical banks. In one of the most visible actions against Bank of America, a San Jose church divested $3 million, closed its accounts, and moved to a local credit union.

Class Action Filed Against Bank of America For Foreclosure Fraud.

The suit, filed in federal court in New Jersey, accuses Bank of America and two subsidiaries of a “pervasive and willful” disregard of the facts and the law in their “undisciplined rush to seize homes.” 

The complaint also blasts the judicial system for an inexcusable deference to Bank of America at the expense of homeowners.  When called by judges to case management conferences, lawyers representing the bank often fail to show up.  When Bank of America refuses to negotiate in good faith judges do nothing about it, leaving homeowners to battle foreclosures after Bank of America has negotiated a modified mortgage and then later refused to honor the terms.

So far Bank of America has no response to the lawsuit.

Bankafuckamericans

Hale-bloody-luja. More power to them.

An Open Letter to the President of the USA

First, before anything: if you had bailed out the homeowners and not the banks, you would not be in your present pickle. There would likely not be throngs protesting in the streets, right now. There would not be thousands deriding you for following the whims of your owners campaign contributors instead of actually fulfilling so much as one campaign promise.

Secondly: If you continue to allow yourself to be bought by psychopathic corporations instead of concerning yourself with the interests of the people, you will be remembered as a stupid president. Possibly worse than George “Dubya stands for dumb-ass” Bush.

Third: Your country is pushing through laws that make America look like a dictatorship with self-interest as the only item in the schedule. This is not a state of affairs that has boded well for other countries in the past.

Do the world a favour. Stop America’s collapse into a new dark age by repealing corporate personhood, abolishing money as a form of speech, and enforce laws regarding the legal uses of the word “federal”. As in, if the government is not running it, it is not “federal”.

Give the power back to the people of America. The real people of flesh and blood, who toil for a better life and strive to follow the rules that are now written so that only corporate-people prosper.

Trust me.

It is America’s only chance.

And it is your only chance to bring about the change you promised.

The consequences of inaction are disaster. The consequences of continuing to follow your owners contributors are also disaster.

With Hope,

A concerned observer and recogniser of the patterns in history.

OWS idea: shit-stirring kickstarter

So I just had one of those brain farts that can only cause trouble and decided to share. I’m that special ;)

Start a kickstarter project in the US to buy the next president.

Obviously, it has to be long term. Like 2016 type long term. Y'know, since this year is leaving it a little too late to fund a president.

The whole goal is to bring back a government by the people, for the people and of the people by using the current corrupt system against itself. You can extrapolate a goal figure from what past presidents have cost corporations and then doubling it so the other bastards have to scramble a bit.

If you start now, not only can you rub the whole corruption issue in everyone’s faces, but maybe make it unnecessary to even have the kickstarter going in the first place.

What do the rest of you think? Good stunt? Bad stunt? GTFO?