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NSFW Episode 1: QE2, Housing, Commodities
This week's recommended reading:
Project for the New American Century
and
Heart of Darkness
Have a great week, guys.
+1 strategic default. Moral outrage my ass, given the opportunity the banks would do (did) the same fucking thing. Midas I don't usually agree with you but you're right on the money today.
agree on default. Anytime I talk to someone who is underwater on a mortgage or even has a question about their paperwork, my first advice is "step 1, immediately stop paying". A hit to your credit rating is usually worth a couple years of rent free living while the bank scrambles to find your paperwork and get through the thousands of defaults that sit in front of you. Companies do this all the time when it fits them, individuals should do the same and not feel bad about it.
Midas,
Mind expanding your thoughts on PNAC?
PM me for any specific questions you may have. Expanding on the PNAC is like talking about history as a general term, it's just way too broad and complex.
What I will say is that it is a physical manifestation of the natural progression of an empire's growth. It is nothing we haven't seen before, just something large powers always seem to forget is not in anybody's interest.
It reflects the (IMHO) severely misguided view of an untouchable, beyond reproach American military power spawned out of the blending of a Clash of Civilizations vs.End of History into the creation of what is in effect nothing more than a military doctrine backed by faux ideology.
The severe problem facing the PNAC is that it is intrinsically linked with American economic dominance and this is why it's operations have created such problems, for the U.S. and the world at large. This problematic issue was clearly never contemplated in its formative phase and like all giant bureaucracies it is very tough to stop the levers once they get moving. I'm not sure a solution exists.
I have no doubt that the proper or improper execution of the PNAC will do more to determine the fate of the world over the next 50+ years than any technological invention, political theorem, regional policy, economic issue or individual/collective achievement.
Two best words to describe it:
Scary shit.
WINNING!
start here: http://en.wikipedia.org/wiki/Project_for_the_New_American_CenturyI agree with you guys up to a point, but Charlie is an addict spiraling out of control. A guy in my town tried this same shit once [and threatened my sister] so I stopped just short of putting him out of our misery in my bar with the backing of the local mafia, military, and biker crowd. I love Sheen's work, and he's living the dream, but shit, he declared war on the network. Knowing him, he'll have a reality show by the summer, so it's probably not all bad. I wish he would go back to being someone I would want to be, because the next step is Rick James crazy.
I'm glad you guys spoke to common sense about people walking away from underwater mortgages: when the system sucks and there's clearly no point to participating anymore, people walk away. Or tear it down. What does anyone expect? Does some twat sitting in a bank realistically think that Joe the plumber is going to spend the next 20 years paying a mortgage that he's going to come out behind on? Welcome to America.
As for the military industrial complex - this is exactly why I went to finance. Access to power. The cyber security will eventually be ironed out, but the liason to government power will only increase, so I see it as a shortcut to higher level access than say the military [although I think about joining every single day] law school or sitting in some shitty agency for 20+ years until I get close to the action. The money is great, but more to the point: the upward mobility is very accelerated. If you know of a better way, I'm all ears.
You guys really got me thinking, and I apologize for the long commentary, but you're pretty much the only news source that sticks in my mind lately, no homo
It's about time they retire 2.5 Men. I used to love the show. Now, it's just the same shit over and over.
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