Friday, February 26, 2010
Spain Boulevard
Thursday, February 25, 2010
New Old Mexico
Mexico was always feared as a source of problems for southern US States, an exporter of desperate workers seeking money (and mythical welfare if you listen to the anti-immigrant zealots) and lately the Peak Oil crowd has expected Mexico's finances to do a toilet-whooshing disappearance with the shrinking of the Cantarell Oil Field, one of the largest in the world. Then the speculation was that illegal drug money was propping up the Mexican economy as the border states became battlegrounds for control of the access routes to the lucrative US market. Ours is the land of despair so people need their drugs to stay less unhappy... and conversely, Mexico is happy to fill our chemical needs. You can hardly blame them, the capitalist swine,for choosing to fulfill a market niche.Yesterday Bloomberg, in analyzing comments by the teutonically named Alejandro Werner, Bloomberg found that tax increases, spending cuts and fiscal restraint have left Mexico's Government's finances in quite decent shape. One has to assume that there is some measure of truth in the deputy Finance Minister's comments, not least because PIMCO, the US mega fund manager has given Mexican bonds the green light.
These days it is difficult to take government statements at face value in light of the bullshit Goldman Sachs has pulled in Greece and Italy, and who knows where else, helping governments cover up the extent of their indebtedness, but if the Mexican story is real, and over time we shall see, then it could be a lesson learned for us in El Norte. Of course there are tons of lessons our leaders should have carried out but our dear corporations put a lock on them all. Whether or not impoverished Mexicans feel buoyed by the news will be hard to tell, from this far away. However standards of living did go up under President Fox, the oily Coca Cola salesman, during the boom years, and one can hope that a calm governmental budget scene will allow them to hold on to their gains.Plus there is the new drive to form a trading group in South America and the Caribbean excluding the US and Canada and forming their own currency, the SUCRE ( not the old Ecuadorian sucre) and trading by barter. With the decline of our empire other forms of trade and one hopes humanity, will fill the void.
So much for the speculators of doom suggesting Mexicans will pour across the border to take over our economy as theirs fails, a cross-border replay of the 1910 revolution. We've already seen a net export of undocumented Mexicans going home as our economy implodes. Perhaps it won't be too long before we see Gringos pedaling pedi-cabs in the resort towns of Mexico... More Sculptures
Wednesday, February 24, 2010
Eviction
The article accompanying the picture was wondering why we have wasted so much treasure to "fix" the banks and not the mortgage foreclosure chaos. Good question. Clearly the picture struck a nerve. Volcker Rule
I guess I was wrong. The grief looks set to continue, as those same bankers are now saying they don't like the Volcker Rule, it is too restrictive and they bitch about Depression Era Big Government regulations and so forth. The funny thing is that thus rule comes from the Grand Old Man of Federal Reserve caution, Paul Volcker, not any one of President Obama's inner circle of Goldman Sachs alums who give him their financial advice. What a sorry bunch of Marxists these people are. Dear Leader continues to insist we give the store away to the bankers because they will save us from ourselves. Even as the complaints flow in that ordinary people are walking away from failed housing investments as though that is some moral failing. The social contract has been broken by the banks, not the homeowners, in my opinion.
My aggravation at this situation has got some backing, unwittingly from Elizabeth Warren, the academic truth teller who has been quoted thusly:
"The problems could not be more obvious, and quite frankly, the solutions are just about that obvious, but we just can't seem to get the two together...The reason that we are not changing things right now is because the banks have lobbyists in Washington in numbers I have never seen...People who just want to advocate for American families, people who want some changes to level the playing field do not have that kind of lobbying power. And so what we are really watching here is a David and Goliath story."
The most frustrating thing about this ongoing and worsening economic death spiral is that solutions seem obvious, implementation seems simple enough. Yet we can never seem to quite get there, which would give weight to the explanation that lobbyists are blocking our path here as in health care reform. There is an absence of morality in all upper echelons, in business and industry most especially and for a citizen like me to suggest that there should be a moral component to financial decision making sounds extremely quaint indeed. That's how far into this morass we find ourselves. It no longer matters to our rulers that people are going hungry, that people are unemployed, that people have no access to health care. It may matter to President Obama but clearly he is as much governed by Goldman Sachs as we are in our misery.
Perhaps I am jumping the gun but I do wish there was an alternative, not just to Democrats, Republicans, Libertarians, Greens but to the Tea Partiers too. For though they peddle freedom as their watchword their social attitudes are anything but free unless you are white straight and Christian. If there is a revolution in the air it bodes nothing any good to those of us that want the freedom to be immigrants, gay and literate. It seems we are sidelined, those of us that prefer our politics with a touch of humanity and old fashioned decency. We face a future as serfs of the corporate profit machines or at the hands of proto-fascist Republicans in a minor key who want to lead us through revolution to a brave new world that I am pretty sure is not where I want to spend my golden years. even if my golden years are looking pretty brass-colored about now. Bloody hell I must be felling moody tonight. Someone tell me I'm wrong.