June 04, 2010
– Comments (4)
Imagine almost everything the world holds value in is a derivitive......and the marker of value is essentially an illusion.
Madoff's clients thought they were rich based on the statements they received.....but behind the statements was air.....
Money and Gold are a derivitive of human productivity....but there is very little productivity to back up money and gold absent credit and debt......and without human productivity, money and gold are worthless
Credit and Debt are the primary assets of Pension Funds, Retirement Accounts, and Money Market Accounts....but more and more debt is defaulting everyday as credit is cut off...
Shares of Stock and Corporate Bonds are a derivitive of corporate productivity.....but most corporate productivity is simply a derivitive of credit directly or indirectly.....
Real Estate values are a function of the owners ability to service the expenses.....but each day as credit is cut off.....fewer and fewer can afford to service the debt and maintain the property
When we made human production a derivitive of credit and debt....instead of the other way around.....you knew human production would come to a grinding halt once the bankers cut off credit..........
Without much human production......pretty much everything we own is or soon will be worthless......as we continue to proceed into the Digital Age...where what was production will not be......
Oracle Cutting more Sun Microsystems Jobs - Unknown Number
City of Hazel Park MI - 4
Yolo County CA - 50 Job Cuts Possible
NYC Teachers - 4,400 Layoffs Very Possible
City of Brunswick FL - 14
Experts: 25,000 - 80,000 Houston Jobs at Risk with New Drilling Regulations
Norfolk Public Schools VA - Nearly 400 Jobs on the Line
Community Unit District 300 Chicago - 33
Lance Inc - 96
WTTW-Channel 11 TV Station - 25 to 30
Admob Inc- 12
University of Nevada - Possible Job Cuts, or other cuts
City of Sandusky Ohio - 5
Mississippi Youth Center May Cut - 150 Jobs
The Jeffco Public Schools - 136
Commercial Data Systems - 20
Stanley Black & Decker - 63 At South Jackson Plant
Weymouth Schools MA - 70
Black Gaming, LLC - Announces Further Cost Reduction Efforts
Update: Fed / State Officials Warn of Teachers Layoffs in NC
Hillman Shrimp and Oyster Company - 150
Compton Unified School District CA - 76
Mason County Forest Products Shelton Mill - 130
Morris Material Handling Inc to Close Windsor Plant - 47 Jobs Lost
Pitsch Elementary in Wisconsin Rapids
BKLYN Yard in NYC
Wells Fargo & Co Closing Business Unit in Wilkesboro
Tookie’s Toys in Raleigh
Hilltop Homes NY
Update: St. Bernard's High School and at Longfellow Magnet School in St Louis Close Today
Fireweed Theatre in Anchorage Alaska
Royal Dutch Shell Plc Closing Montreal Refinery - 500 Jobs
Innatech in Lebanon Ohio - 57 Jobs Lost
Canoe City Video and Appliance in Maine
Greater Western Kansas Regional Juvenile Detention Center in WaKeeney - 29 Jobs Lost
Village Video in Osakis MN
Jasmine Di Milo Clothing Label
Roaring 20's Pizza and Pipes in Ellenton FL
Dominion Virginia Power Closing Altavista Power Plant
Chamberlain Branch of the New Britain Public Library CT
The AIDS Coalition of Southern New Jersey
Update: Barnie's Coffee & Tea will close its West Town Mall store
Thrifty Fish thrift Store in CT
Gallaudet School for the Deaf
Healey Ford in Ansonia Conn.
IN THE END THE TICKER IS A DERIVITIVE.....EVENTUALLY REFLECTING AN AGE THAT IS SHUTTING DOWN RAPIDLY......
Keep watching the ticker.....soon you will know what it is like to learn that we are all Madoff's clients.
When corporate production is a function of debt....and credit is being cut off.....pretty soon corporations will not produce much.....
And without production....basically everything is worthless.
You use "derivitive" a lot. Fair enough. But since it is often central to your argument, it would serve you well to know it's spelled DERIVATIVE. :0)
There is a fallacy in your argument. A medium of exchange is necessary. Demand will exist for basic items necessary for life.
And don't say barter is the answer. Barter will return as a supplement (or circumnavigation) to the "system". But people need something to trade to get what they need - food, shelter, tools, clothing, medicine... and guns/ammo. To have goods they need to buy them or make them. Either way, there is value in them. Stores will still have them, and require payment.
Deflation will occur but things will not be worthless. Worth little in monetary terms, but not worthless.
"And don't say barter is the answer."
Comrade BioTM . . .
I can see you didn't live thru the Great Proletarian Cultural Revolution, but you will live thru the Digital Revolution. If you were more than a twinkle in your daddy's eye in 1968, the only "medium of exchange" in China was barter. Want a hair cut, give a comrade a chicken.
What will you sheep exchange in the Digital Age, as y'all been fleeced already.
Keep your heads down, as that roughness between your hind quarters is only farmer Obama focusing like a laser beam on J_O_B_S.