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Some Economic Demands of Janis Joplin

from the Lord.

"A song of great social and political import."

//www.youtube.com/watch?v=C-GFqhCq2HA

The Future

The Future according to Lenny Cohen, live in London version.

Leonard Cohen might not a political-economist (he's actually a prophet, and I'm not being a Canadian nationalist) but his prognosis is always correct. Enjoy.

//www.youtube.com/watch?v=3FzM_XrgtPo&feature...

you never knew me

you never will

I'm the little jew

that wrote the Bible

Hooshang Jan

You are right. The bankers have taken over. However they are banking on our mistakes. I am just talking about the educated middle and upper middle class. I did not have to fall for buying their stupid shares. Nor did I have to sell at the bottom. In addition we do get to vote. People in America are voting against their own interests and I do not see it getting better. If anything they are getting dumber. They voted for a gang that wants to privatize i.e. destroy Medicare.

Most of them do not even know Medicare is a "Government" program. So I do not see it getting better in the USA. People are too busy joining the "Tea Party". They are so far to the right to make Nixon look like a left winger!

I just wish we had an Iran to go back to and give the finger to these assholes. Unfortunately Iran is no place to move to now. At least in our culture we accept that greed is bad. In America they really think greed is good.

...

VPK jan more or less the same thing that happend to you, also happend to me (and I have a feeling , half the people who might be reading this blog). Of course for people living in Iran, Egypt, or even people with less income and financial stability in the US or Canada, the crisis is a very different story. They don't have 401ks, or own their own house to begin with. Some unemployed workers in the US and Canada,  have been out of work for almost a whole year now, with no relief in sight.

Even Capitalism, like Socialism has different variations, and versions.You have Welfare State, or 'Free Market' (the neo-Con type of the current type).

Back in the 30's  in the US, mainly due to the pressures of the social movemetns, many social benefits were created to assist the people in need. Almost the same thing happened England, Canada,....

That doesn't seem to be the case today, the Financiers seem to be in total control. How long will this last, only god knows, at some point, people are just not goint to take it anymore, once we see people in the streets demanding a better life, then we'll see very different circumstances. Hoping that day is not too far off, cheers

Hooshang Jan

I already lost half my 401-K twice. Once in the early 2000 crash; then in 2008. I managed to recover most of it by proper planning. I also lost my job both times and got new jobs.

This is Capitalism and it is not pretty. I do not particularly like it. But I live in America and have to put up with it. I am also well aware of "Crisis Capitalism". You just have to be careful.

• Make sure you have a skill that is in need.
• Beware of artificial bubbles; first it was stocks; then real estate; now gold.
• Don't panic and don't dump your 401-K.

I panicked once and it cost me 40 $. I then learned from it and managed to save my 401-K. The bubbles and crashes are deliberately made to move money from middle class to rich. Do not fall for this scam and be aware.

VPK jan, not sure where you read "the end of the world" it sure

is not is not to be found in Roubini's text.

Such an apocolaptic idea probably stems from your non-understanding of Capitalism.

What Roubini has been pointing out are the possibilities of the crisis od capitalism. Crisis is not the same as 'the end of the world.' In such crisis you might lose lots of money, your job, more than half values of your 401K, or the net worth of your house,...but the world, or capitalism doesn't come to an 'end,"

Dynamism of capitalism lies in its ability to adjust and survive, one crisis after another. For a more precise, nuanced definition of "Crisis of Capitalism"  please see:

//www.marxists.org/glossary/terms/c/r.htm

P.S. Please note that Roubini is a mainstream, non-radical economist. How such a conservative, mainstream economist arrives at the same conclusion as radical ones, proves the validity of the latters analysis. Hope that clarifies some points, cheers

I don't know

but I have been reading about the end of the world for all my life. First it was the Soivet US nuclear war. Then came the "Great Depression of 1990s" see:  

//www.amazon.com/Great-Depression-1990-Ravi-B...

Then the global computer crash of 2000. There are ups and downs but people love doom and gloom stories. Note the "may" clause so if it does not happen he got a way out."I said may happen not will" and go on to sell some books and make a buck.

On the bright side of economy as noted by Mister Juan Cole

//www.juancole.com/2011/06/top-ten-green-ener...

thanks Hooshang for more info,and funny comment Roozbeh

Dear Hooshang, thanks for your comments which included more information. I do agree with you about crisis. For instance,even though at the present time, many families are losing their homes , but the general reduction in home prices makes home buying once again affordable for young couples. So I am with you on that.

That was a funny comment Roozbeh about how to spend your 401k money.

...

Not so fast buddy boy. Early withdrawl= extra tax, penalties and charges.

See if you could convert it to Gold. Seems about the only safe bet. I remember back in the early 80's it went from $120 up to $200 and we thought that was a big increase. Gold now is about $1500 an ounce? I would stick with Google or that type of product, almost as good as gold.

Also golden  are the opportunities created by the structural crisis of the system: are we ready to seize the day? Some might say we're least prepared to face this current crisis.

Azizam your welcome, but ' doom & gloom' was not the

intended concern. Mere awarness and preparedness. In Chinese the word for Crisis (bohran) means both chaos, and possiblity. So also in each economic crisis we have elements of both: opportunity and demise. Although there's an over all process of deleveraging, there are also new sections and skills created, and expanded.

Looks like all hopes of world economy are on China, India, Brazil,... can they carry the day?

Some might say Nouriel is a bit optimistic. See below:

//www.iwallerstein.com/the-eagle-has-crash-la...

Perhaps according to Wallerstein we are living in the perfect storm. 

P.S. At some point we should have an aprop tribute and acknowledgement of Roubini, in the first row, perhaps.

//iranian.com/main/blog/hooshang-tarreh-g...

To end with a happy, bright thought listen to Clash, singing Radio Clash, and pay close attention to the ending lyrics:

Everyone hold on tight

//www.youtube.com/watch?v=G-t52zc8Ex4

Dear Hooshang, I've long been waiting for an excuse.....

To withdraw my 401k and spend it all on wine and women. You just gave me that excuse. 

Cheers :) 

"Personal business must yield to collective interest."

thanks dear Hooshang for news of gloom and doom

I am not being sarcastic. Members of my family who are in economics field had told me that they were impressed by this guy.

So if "Nouriel Roubini" warns us about a perfect storm, I have to read this and find out more about it. Thanks for sharing.