Thursday, March 26, 2015

Another Oligarch Preaches To The Peasants - Charlie Munger Says “Prepare For Harder World”

By Michael Krieger: While several exceptionally wealthy and successful people have admirably come out and spoken passionately of the broken nature of financial markets and the political system, as well as the threat this poses to society in general (think Paul Tudor Jones and Nick Hanauer), there have been several examples of oligarchs coming out and conversely demonstrating their complete disconnect from reality, as well as a disdain for the masses within a framework of incredible arrogance.
The latest example comes from Charlie Munger, Warren Buffett’s right hand man, who tends to demonstrate an incredible capacity for verbal diarrhea. Recall his commentary on gold: “gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939.”  
Moving along, Mr. Munger provided some typically insensitive commentary at an event yesterday in Los Angeles. Bloomberg reports that:

Charles Munger, who became a billionaire while helping Warren Buffett build Berkshire Hathaway Inc., predicted it’s going to get tougher for consumers to maintain their standard of living in coming decades. “We should all be prepared for adjusting to a world that is harder,” Munger, 91, said Wednesday at an event in Los Angeles, in response to a question about the increase in the size of the Federal Reserve’s balance sheet since the 2008 financial crisis.

Debtism vs Capitalsm - Max Keiser and Stacy Herbert with Daniel Hassan

Warning against trusting bureaucrats bearing false economy as shocking austerity and ‘bed blocking costs more than is allegedly saved'. In the second half, Max interviews Daniel Hassan of the Robin Hood Minor Asset Management hedge fund which rides the wave of trading whales with the best performance record. Having outperformed the S&P index since its inception, all profits have gone to groups expanding the commons and the public domain.

V For Varoufakis

Dear Greeks, the time has come: we surrender! Take all our money, you may also take Helene Fischer, but please, keep this financial Hercules off us. We could only just bear with Costa Cordalis so this is clearly way too much!

What Does It Mean To Be Jewish?

"I'm so glad I left being Jewish. Don't you wish every Jew did?" Brother Nathanael

Germanwings Co-Pilot "Deliberately Destroyed" Airplane, Identified As 28-Year Old German Citizen

In one of the most chilling segments of this morning's press conference describing what was found on the cockpit voice recorder, screams were heard from passengers and crew as the realisation of what was about to happen struck them all. Prosecutor Brice Robin's findings state that when the German Captain left the cockpit - following what appeared to be - the 28-year-old German co-pilot (who was alive to the end) refused to re-open the door and began an "intentional", "controlled", and "steady" descent as he "seems to have sought to destroy the plane." Nothing indicates that this was a terrorist incident.

As The NY Times reports,

“At this moment, in light of investigation, the interpretation we can give at this time is that the co-pilot through voluntary abstention refused to open the door of the cockpit to the commander, and activated the button that commands the loss of altitude,” the prosecutor, Brice Robin, said.

A Little Blood In The Mix Never Hurt A Revolution

By : I was young, but I remember seeing America burn in the late 1960’s. I watched the television screen, wide-eyed and fearful as plumes of smoke rose from Detroit and Watts. It was much closer to home than that, too. In 1967 here in Houston a deadly riot broke out at Texas Southern University (TSU). After a story broke that a young black boy had been killed by a white Houston police officer the violence erupted quickly. The Houston Press described it as follows:

Angry students gathered, more police arrived. Rocks and bottles were thrown. A shot rang out, wounding an officer in the thigh, and within minutes, a full-blown riot erupted. Over the next hours, HPD shot 3,000 rounds of shotgun and carbine fire into the building, and received return fire. Five hundred officers eventually stormed Lanier Hall, the men’s dormitory, from which the first shot supposedly came. When the smoke cleared, one police officer was dead, one student and two officers were wounded, and 488 students were arrested.
Time reported one police officer as saying, “It looked like the Alamo.[1]””
Similar tragedies were erupting nationwide, all with one thing in common: damage to primarily black assets. TSU is a predominately black university. It was pretty much the same everywhere else. Whether at the hands of black rioters or police responders (often both), it was black businesses, homes, institutions and people that bore the brunt of the destruction.

Lithuanians Under Police State Attack and the world under Washington’s attack

'Washington is the greatest evil that the world has ever faced. There is no good in 
Washington, Only total evil.'
By Paul Craig Roberts: According to news reports and to this appeal by Kristoferis Voishka the pro-American government installed in Lithuania is persecuting Lithuanians who dissent from the anti-Russian propaganda that is driving Washington’s NATO puppets to war with Russia. Unlike their puppet government, Lithuanians understand that war with Russia means that Lithuania on the front line will be utterly destroyed, a result that would not bother Washington in the least, just as Washington is undisturbed when its forces obliterate weddings, funerals, and children’s soccer games.
What is Lithuania? To Washington it is a nothing.
Kristoferis Voiska runs an alternative Internet news site in LIthuania. Not long ago he interviewed me, and the interview appeared in both LIthuanian newspapers and on his Internet news program in video form. I found him to be sincere and well informed. I advised him that interviewing me would bring trouble for him, and he already was aware of that.
As I have said so many times, Americans are the worst informed people on the planet.

Another Video Shows US Police Officers Beating A Black Man Savagely

A disturbing video shows several white police officers in the United States beating viciously an unarmed African-American man during his arrest.
Press TV: The 57-year-old black man was attacked in the Detroit suburb of Inkster, Michigan in January.
The video released on Wednesday showed police officers pulled over Floyd Dent. When he opened the door, the cops dragged him out of the car and one of them placed him in a chokehold.
The officer began to punch Dent in the head 16 times and another officer came and used a stun gun on him three times in the stomach and in the leg.

Can’t Make This Up - U.S. Providing Aid In Fight Against ISIS In Iraq Alongside Iranian Troops

The war, therefore, if we judge it by the standards of previous wars, is merely an imposture. It is like the battles between certain ruminant animals whose horns are set at such an angle that they are incapable of hurting one another. But though it is unreal it is not meaningless. It eats up the surplus of consumable goods, and it helps to preserve the special mental atmosphere that a hierarchical society needs. War, it will be seen, is now a purely internal affair. In the past, the ruling groups of all countries, although they might recognize their common interest and therefore limit the destructiveness of war, did fight against one another, and the victor always plundered the vanquished. In our own day they are not fighting against one another at all. The war is waged by each ruling group against its own subjects, and the object of the war is not to make or prevent conquests of territory, but to keep the structure of society intact. The very word ‘war’, therefore, has become misleading. It would probably be accurate to say that by becoming continuous war has ceased to exist. The peculiar pressure that it exerted on human beings between the Neolithic Age and the early twentieth century has disappeared and been replaced by something quite different. The effect would be much the same if the three super-states, instead of fighting one another, should agree to live in perpetual peace, each inviolate within its own boundaries.

How The Education System Destroys Social Networks

Why do we settle for such an unnatural, inorganic plan?
By Jeffrey Tucker: I was at a restaurant for lunch and had time to visit with the waitress, who turns out to be a college graduate from a good institution. She has a degree in European languages. Here she is waiting tables with nondegreed people, some five years her junior, some 10 years her elder.
She is making good money, but so are her co-workers. You have to wonder: given her position, what was the professional advantage to her of those four hard years in school and the $100K spent on them? What were the opportunity costs?
This is not another article to disparage the value of a college degree. I would like to raise a more fundamental question. It concerns the strange way in which our education system has overly segmented our lives into a series of episodic upheavals, each of which has little to do with the other, the value of one accomplishment being oddly disconnected from the next stage, and none of them directly connecting to our professional goals except in the unusual case.
From the earliest age until adulthood, we’ve been hurled from institution to institution in a way that eventually sets young people back from developing continuity of plans and a social support system to realize their goals. At the end of it all, people find themselves back where they started: figuring out their market worth and trying to find a buyer for their services.
Instead of drawing down on accumulated capital, they end up starting fresh at age 22. Even after years of building social capital, they are drawing down on a nearly empty account.

How To Correctly Express Approval At A Feminist Conference

Clapping is triggering... apparently. Milo Yiannopoulos shows you how to safely applaud at your next feminist gathering.