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  By Mystic | December 8, 2015 - 01:28 |

~~~

UK Telegraph
Paying all UK citizens £155 a week may be an idea whose time has come
Introducing a basic income guarantee would be costly, but it could be the answer to a lot of different problems

To date the idea has been confined largely to an eclectic mix of utopian and libertarian thinkers. Certainly, it has been easy to dismiss the concept as costly, unrealistic idealism. But now it seems that Finland might actually introduce one, set at a level of €800 (£576) per citizen a month, or just enough to live on.
…
And just in case you are tempted to dismiss the idea as socialist nonsense, this is what Friedwich Hayek, intellectual godfather to the Thatcher revolution, had to say about it in Law, Legislation and Liberty.

“The assurance of a certain minimum income for everyone, or a sort of floor below which nobody need fall even when he is unable to provide for himself, appears not only to be wholly legitimate protection against a risk common to all, but a necessary part of the Great Society in which the individual no longer has specific claims on the members of the particular small group into which he was born”.

.

Comments on this article and others about the Finish idea generally run something like –
“I was rolled down a hill in a barrel of shit … so, the youth of today should be rolled down hills in barrels of shit”

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The Gardianu
Morgan Stanley axes 400 bankers as bond-trading income dives
Investment bank announces cull of fixed-income staff as regulatory changes and low, stable interest rates hits fees

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ChublicOpinion
The Unbearable Coldness of Being (Chinese)

A comment sums up the article –

The core of the problem does no lie in the rotten emergency system or rotten medical standards. It does not lie in professionals who rip of “Good Samaritans” trying to help them. It lies in the fatal fallacy of thinking it could be “smart” to stay away from people in trouble, to make it their “own business”. Lack of empathy and social sense can never be “smart”. Greed, incomeptence, idiocy can never be “smart”. People may be dumb, they may be deeply unable even to open a closed door, they may be greedy and selfish. It is human, it is all fine so far. Problem begin when a whole culture labels this not as an insufficiency, but smartness. Look at the societies raising on this poisoned soil. Just look at them. There is no accidental element in this story, no extreme development. It all developped by their own cultural logic.

.

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That’s minus 16.9% … There is a world recession going on (but no one seems to want to mention it)
tue7

Commodities back to partying like it’s 1999 –
tue5comds 1999

Is it oil … or iron-ore~? (both under $40) –
CVnmWy_UYAA5MnE

Commodity country’s currencies getting kicked down –
tue6comdcountrycurrencies

`up` means `down`
tue4sa

`up` means `down`
tue3loony

China’s FX reserves are having a change of direction –
tue2chinareserves

.

(Housing must be the basis of this) Incredibly shocking –
tue1

golakers

Written by: Mystic on December 8, 2015.
Bookmark the permalink.
  • Jack

    “Look at the societies raising on this poisoned soil. Just look at them.
    There is no accidental element in this story, no extreme development. It
    all developed by their own cultural logic.”

    Guess that’s what happens with ‘progress’ in a socialist dictatorial state, you can have all the infrastructure, the banks, the suits, but civilization is still kinda missing. Maybe such coldness came from too much programming to forget about the “I” and sacrifice it for the country and the party?

    “Hoarding and squandering wasted all their Light
    and brought them screaming to this brawl of wraiths.
    You need no words of mine to grasp their plight.”

    -Inferno Canto VII II. 58-60

    • Lyle P.

      I read the article. I wonder… too much growth too fast after coming from deep prolonged poverty. Too many rats in their rat race to value individual life… yet.

  • Lyle P.

    “Credit Suisse recently published a study comparing the wealth (net worth) of an average adult (as an individual, not the wealth of the whole state divided by its population) in different countries, and the differences are stunning.”
    —
    Having trouble wrapping brain around this map. Like the average adult wealth of an Italian is $ 204,000 USD. WTF – really ??? Surely the brain must be interpreting wrong this AM.

    • CSArichardo

      Remember that this is average not median !!? The wealth of the 1% really can bring up the average.

      • Lyle P.

        hmmm… that helps. Thanks

    • http://overthepeak.com/wordpress/ Mystic

      I remember reading something once that stuck with me –
      Italians are rich, because they a descended from generations of Italians who have seriously avoided paying their taxes.

      ~

      It is a bit of an intro into MMT.
      All that Italian government debt is owed to the people.
      It is a big savings-scheme.

  • Lyle P.

    Moore’s is less now ???
    —
    “Digital electronics have contributed to world economic growth in the late twentieth and early twenty-first centuries. Moore’s law describes a driving force of technological and social change, productivity, and economic growth.”

    • http://overthepeak.com/wordpress/ Mystic

      It’s a ponzi~!

      Digital electronics gave the bankers confidence to give more loans … so that old loans could be paid back.

      (no confidence = no loans = no growth = no paying back old loans)

  • CSArichardo

    Peak Saudi Denial. Yes the US cheerleader was out again. Any implied Muslim and Saudi link must be broken in the US citizens mind to keep the “war” going against Syria, Iraq and Iran the place where terrorists are grown. Is America aligned with the dark side ??!

    http://www.cbc.ca/news/world/saudi-arabia-radicalization-neil-macdonald-1.3354831
    *
    “In the years following the 9/11 attacks, important American officials and politicians regularly declared that the mass murderers had sneaked into the U.S. through Canada. The subtext was clear: Canada, which had declined to help invade Iraq, was soft on terror.

    It was a massive, sprawling lie, but a convenient one. It played well with the anti-immigration crowd, and helped distract Americans from the nasty truth: that 15 of the 19 hijackers were citizens of an ally that has actually bankrolled terror: Saudi Arabia…These men entered the U.S. directly and legally, on visas issued by the U.S. government, and some of them were supported once in America by Saudi consular officials.”

    “That last bit of information remains officially suppressed by the White House, even though it’s widely known to be in Congress’s 9/11 report because, you know, it might embarrass the Saudi government, which must remain protected from the embarrassing fact that Saudi individuals, charities and clerics cultivate and fund extremism around the world.”
    *
    “Obama talked about how the U.S.-born Syed Farook and his wife, Tashfeen Malik, had gone “down the dark path of radicalization,” but uttered not a word about the fanatical desert kingdom where the Pakistan-born Malik had spent most of her life, and where, by several accounts, she found that dark path.”
    *
    “Instead, like previous presidents, Obama continues to fawn on the hereditary Saudi monarchs, praising their wisdom and their efforts toprevent radicalization from spreading in the Middle East (diplomacy often requiring an absence of irony).

    • Lyle P.

      Takes a lot of oil to keep those jets, tanks, and ships a rollin’ around the world.
      And more jobs for all those who make same. Win Win for them and Lose Lose for everyone else.

      • CSArichardo

        Saudi is a bunch of oligarchs. The world works on the principle of divide and conquer. The US empire is divided and there are alot of alliances with oligarchs being made to conquer it !???

        • http://overthepeak.com/wordpress/ Mystic

          There is no such word as `alot` (and I hope there never will be~!).

          • CSArichardo

            Some of us received better grammer or was that typing lessons than us other poor sods !

            • http://overthepeak.com/wordpress/ Mystic

              `grammer` … `grammer` … what is a grammer~!??

              • CSArichardo

                Something that teaches you not to use the word “a lot” or “alot” but instead use something more elegant !!?

                • http://overthepeak.com/wordpress/ Mystic

                  `Grammar` wiv an `a`.

                  (pattern recognition … and naming~!)

    • http://overthepeak.com/wordpress/ Mystic

      It is like giving mass loans to the common-man … when you stop, you are fucked.

      Stop propping-up the Saudi monarchy … and the whole region falls apart.

  • Lyle P.

    If the talking heads mentioned the word ‘recession’ wouldn’t ‘the world’ shit itself and make things even worse = depression. ?
    Sure as hell appears like recession around my parts. Businesses must play ‘how low can you go’ and still survive while the Fed’s, State’s, Cities, and Utilities find new ways to get more $$$ from ya. Nothing new here of course.

    • http://overthepeak.com/wordpress/ Mystic

      The people are getting to know that you don’t even have to buy at `sale prices` … Wait a while longer … and things will be `very sale prices`.

      • CSArichardo

        I agree. I was in the US pre Thanksgiving Holiday and everything was on sale and still is !? Not sure if this Black Friday and Cyber Monday stuff there will survive as it turns into a Weekly Black Friday world?!

        • http://overthepeak.com/wordpress/ Mystic

          I was out in our local city and most stores were already in sale-mode.

          I think maybe the bigger point is, that people have been streamlined-down to only wanting a small range of things … there is hyper-competition to sell those things … and the public are getting to know that if they wait, they get things cheaper.

          I don’t even think giving everyone more money would change this change.

  • amoeba

    I am OK with the 155 Quid/week idea.

    But then the question arises, what about the hordes of islam banging on the coast? Should they all get the 155 quid once over the cliffs of Dover? (I am with Trump on this. They do not want to integrate and will always consider themselves citizens of an islamic world).

    Here’s a question.

    How much for another year?

    Quality, quantity or leave it to the brats and head to Switzerland?

    http://www.bbc.com/future/story/20151201-how-much-would-you-pay-to-live-for-an-extra-year

    • axel1million

      No I don’t think so.
      Its not raciest to say it should only be available to white Europeans and people of Jamaican origin(and Jews of course).

  • CSArichardo

    When you begin providing a basic income (enough for food and shelter) to everyone it could free up many people to do many good and bad activities.
    *
    I am guessing that having hoards of people becoming politically active might be consider a bad activity from the existing order?!

  • Dodo

    Is China reserves measured in US$ ?? If so how much is not held in US$ ??

    Why do western women shave their armpits?