KEYNESIAN INSANITY...

Kayfabe: "Our Government tells us it's expecting to borrow £60bn this year
and a further £100bn next. Many other countries in Europe will be doing much the
same. In the US, as we know, Congress famously approved an extra $700bn of
borrowing to fund the bail-outs. Obama says he's going to spend a similar amount
on New Deal style projects - in addition to the regular Federal deficit of a
$trillion or so. So I dunno... how much new Global borrowing does all this add
up to? Couple of $trillion? Five trillion.. more?"

Yep, much more! $ 53, 000 000 000 000 trillion, to be exact!

According to the financial expert David Walter ("An American Time
Bomb"), America's total liabilities, including public debts, actually amount to
$ 11 trillion, added to which there are currently unfunded obligations in social
security benefits of $ 7 trillion. Unfunded medicare promises, apparently, add
up to some $ 34 trillion, to which for good measure he attaches another $ 1
trillion for miscellaneous requirements. All of which adds up to a grand total
of $ 53 trillion in terms of negative equity - or $ 175. 000 000 per person - in
order to deliver on the obligations and promises of the US government.

I, personally, cannot vouch for these figures. But anyway you slice it,
wowza! There is nothing in human experience to compare with it. What we are
dealing with here is not an event of negative equity, but a process of financial
meltdown at a rate ten times higher than the growth of population.

Meanwhile, in America, apart from the huge tax-cutting and public-spending
package sketched out by Barack Obama last week, its central bank, The Federal
Reserve, has already stepped up its quantitative easing, as if we could conjure
away financial immolation and find economic immortality through printing
banknotes. But perhaps our most spectacular failure is with the fundamental
problem of balancing the structure of the global economy with the demands of the
global ecology. While the future will be disintegrating in yet another ferocious
spiral of boom and bust, all efforts would have to be concentrated on urban
demographic growth in order to increase the world's fiscal population. Precisely
because growth and productivity are linked to the volume of consumer population,
the only answer to long-term economic decline, is more humans and plenty of
them. Nor - in the full understanding that this, too, is an adjournment rather
than a annulment of an inevitable confrontation - does it offset the burgeoning
new carbon emissions created by the requisite high birth rate and the steady
flow of migrants to the West.

Here is a human explosion waiting to happen!

And carbon capture technology, to tell the truth, will not be keeping
pace with the urban population increase. It is a classic case of untested
assertions. Carbon trading, too, is by definition a strictly temporary
expedient. I have no fundamental objection to such Keynesian ideas as
deficit-financing - I don't understand it, so I don't object to it - but if
Messrs Brown & Co are confident that we should continue to consume more than
we produce, it is obvious to me, that Keynesian insanity is a natural result of
the belief in charlatanism. Indian jugglers may perform such feats of
escapology. But then, of course, they are tied up inside a sack and thrown into
a river. Which rather suggests to me that Anglo-American conmen should be
treated likewise.

There is no way to spin it, folks. The dirty fact of the matter is,
that we can’t escape; we can’t hide; and we can’t possibly have the cake and eat it.

Dreamy