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at china can develop the know how on its own what we are seeing is almost an isolationist stance meanwhile a manager at a retail company put it more bluntly the idea that china was one day going to be a lucrative market for foreign companies was just an illusion 1 china was never going to fully open their economy to the west particularly their financial sector and domestic companies will always be favored and potential profits for foreign run companies shaky china can t open up too much because of the geographic scale and size of the country their leaders aren t idiots and they know fragmentation has historically doomed chinese empires therefore a powerful central government is of the utmost importance ultimately an authoritarian government can not integrate into the leadership of global capitalism capitalism requires a particular brand of bourgeoisie democracy to be successful on its own terms over the long run this is not to applaud the west for its form of government which of course is quite imperialistic in its foreign affairs but china is ultimately a single party system that is going to restrict the rights of private capital and the growth of an independent business class no matter how much the city of london or wall street have stomped their feet china has maintained control of its banking sector meanwhile andy xie has a presented rather detailed set of ways that trade war could be avoided few of which look likely to be implemented the various elites of the world seem to be preparing for war and ready to drag the rest of humanity along with them 1 uk businesses threaten to pull out of china over protectionism uk telegraph moore foster 2 steering out of a smash up no one wants caixin xie posted by purple at 1 23 am 1 comment tuesday february 9 2010 a riff on playing music for a living here in the u s one has to wonder about the future of music schools and conservatories with tuition rates of 20 000 a year when available jobs are dwindling many orchestras are in severe crisis now with large deficits and no apparent way to make them up and orchestras are traditionally the largest source of employment in the private sector for classical musicians the decline of the orchestra in the u s has to eventually impact opportunities for musicians in the education system yet people in positions of authority seem pretty much oblivious this is not just restricted to classical music one could throw in jazz as well where opportunities are even more scarce it s sad to see people who regularly played with coltrane and miles davis living in rent by the month hotels as they struggle with the difficulties of age yet i know such people who made much more thirty years ago than now we are throwing away our history and cultural legacy music schools have the standard jazz studies department but who goes into fields such as these when the opportunities to make money are limited and dwindling more and more it s exclusively children of the rich who know they will be taken care of if things don t work out but you re not going to get much vitality in an art that way musicians don t go into the field to get rich but one has to survive the field is demanding and requires one s full attention to improve and succeed you simply can not be a top flight musician and have a day job this can apply to any segment of music not just the above mentioned categories of classical and jazz as economies decline so to do the arts people feel the pinch and have to survive even if it means limiting their artistic pursuits the renaissance was an economic as well as an artistic flowering they go hand in hand those who celebrate their ability to get free music are pretty much celebrating the destruction of another economic base though of course no one is pure in this regard as with any situation there are success stories but the general drift in the music field over the last decades has been towards less less live music opportunities and less money through recordings with or without evil record companies comparing our world of copyrights with mozart s world is ridiculous there were no recordings in mozart s time so live music was needed restaurants couldn t re run a cd all day as they can now everything cannot be about promotion giving something away for free for a future reward there eventually has to be a pay off bills have to be paid teeth have to be fixed shelter provided for if musicians can not get their basic needs met by playing music many will move to other fields and a whole lot of interesting ideas will never be heard posted by purple at 9 31 am no comments monday february 8 2010 yes there is a ruling class no you re not invited it s hard to find articles about this meeting organized by the bank of international settlements the world s top central bankers began arriving in australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets representatives from 24 central banks and monetary authorities including the us federal reserve and european central bank landed in sydney to meet tomorrow 2 7 at a secret location the herald sun reports 1 secret summit of top bankers news com au posted by purple at 10 18 am no comments palin is still around despite being the standard joke at liberal dinner parties sarah palin s poll numbers are not too bad her most recent gallup poll in december had her at 44 47 or a 3 in favorability in contrast obama s current gallup job approval is 49 44 or 5 slightly different types of polls but it is interesting how small the gap is incumbents usually need to crack 50 job approval to be favored in a re election the election of an incipient fascist like palin is some ways off it would require continued deterioration in the economy and political establishment but she is not going to just fade away in the meantime she can build her base through shock troop movements such as the tea party and stay in the media advocating another american revolution from the right and war with iran say he decided to declare war on iran or decided to really come out and do whatever he could to support israel which i would like him to do 1 it will be interesting to see if she continues developing ties to the intellectual far right of u s politics such as hardliner john bolton 1 palin barack obama needs to toughen up if he wants to be re elected orlando sentinel 2 palin says us ready for another revolution financial times luce posted by purple at 9 43 am no comments toyota and military bases in japan the recent media crackdown on toyota is a bit suspicious given that it comes at the same time japan s new government is considering whether to force the u s military off of okinawa toyota s problems have been known for years but it is only now that the u s government is getting involved with serious investigation and with that the u s media is starting to pile on toyota and japanese exporters need the us market and negative publicity like this could damage the entire japan brand 1 toyota recall fails to address root cause of many sudden acceleration cases safety expert says abc rhee 2 lahood toyota resisted safety fix cbs news 3 u s ambassador stresses need for troops on okinawa stars and stripes weaver posted by purple at 6 42 am no comments sunday february 7 2010 federal tax receipts and gdp one wonders if we are seeing the growth of a grey market in u s economic activity given the drop off in federal tax receipts in proportion to gdp this could also be a measure of the weakness in personal earned incomes which make up most of u s tax receipts and throw in the bush tax cuts for good measure posted by purple at 10 35 am 1 comment npl s soar in china non performing loans in china have risen into the trillions of renminbi because of poor lending practices an insolvency lawyer said we work really closely with sasac the state owned enterprise regulator in china and there are literally trillions and trillions of renminbi of frankly defaulting loans already in china that no one is doing anything about neil mcdonald a hong kong based business restructuring and insolvency partner with lovells llp said at an asia pacific loan market association conference yesterday at some point there s going to be a reckoning for that 1 when this last happened the government was able to bail out the state managed banking system but that was during a time of rising trade and trade surpluses on the other hand experts have been waiting for china s inefficient banking system to collapse for years and it was the freewheeling west that went down first in the meantime living standards have risen for a good portion of china s population 1 china defaulting loans soar insolvency lawyer says bloomberg smith 2 wen says chinese concerned about graft income gaps housing bloomberg posted by purple at 3 24 am no comments saturday february 6 2010 capitalism is about making money why are people surprised when capital seeks to do just that posted by purple at 3 06 pm no comments friday february 5 2010 my favorite things posted by purple at 3 18 am no comments thursday february 4 2010 sri lanka as a pawn in the grand chessboard too often the left speaks in terms of conspiracy and intrigue as a way for the elite to maintain power but usually ruling class arguments and objectives are out in the open consider the recent us senate report on sri lanka sri lanka s geopolitical position has evolved considerably as western countries became increasingly critical of the sri lankan government s handling of the war and human rights record the rajapaksa leadership cultivated ties with such countries as burma china iran and libya the chinese have invested billions of dollars in sri lanka through military loans infrastructure loans and port development with none of the strings attached by western nations while the united states shares with the indians and the chinese a common interest in securing maritime trade routes through the indian ocean the u s government has invested relatively little in the economy or the security sector in sri lanka instead focusing more on idps and civil society as a result sri lanka has grown politically and economically isolated from the west this strategic drift will have consequences for u s interests in the region along with our legitimate humanitarian and political concerns u s policymakers have tended to underestimate sri lanka s geostrategic importance for american interests page 2 the united states cannot afford to lose sri lanka page 3 sri lanka s strategic importance to the united states china and india is viewed by some as a key piece in a larger geopolitical dynamic what has been referred to as a new great game while all three countries share an interest in securing maritime trade routes the united states has invested relatively few economic and security resources in sri lanka preferring to focus instead on the political environment sri lanka s geostrategic importance to american interests has been neglected as a result page 19 1 sri lanka recharting u s strategy after the war committee on foreign relations us senate posted by purple at 11 40 pm no comments wednesday february 3 2010 devaluation is for weaklings apparently talk of devaluing the u s dollar or revaluing the yuan is gaining widespread acceptance but it s still the weakling s way to achieve export market share it s better to have a superior product than a cheaper one the fact that every region of the world feels the political need to devalue is a sign of systemic crisis that crisis is over capacity a crisis of overproduction in far too many crucial industries and while the g7 was liquidating to an extent over the last two years china increased bank lending by some 40 it s beginning to looks like the savior green industries of solar panels and wind turbines could be put in the over capacity column as well as the world gets smarter and information flows more freely i suspect market clutter will occur at a more rapid pace even in new industries this might suppress the motivation for productive private investment and relegate it more permanently to the speculative realm in that case government will have to step in 1 chinese mercantilism krugman blog nyt posted by purple at 9 39 am no comments the vatican pushes for pope pius xii sainthood there is a lot of world war 2 amnesia going around the catholic church is a highly political organization and apparently they feel they can get away with making this nazi abettor a saint after being declared one with heroic virtue the step below sainthood there is now out of the blue a possible miracle attributed to him a requirement for sainthood like most good conservatives of the day pius tolerated fascism because he wanted to crush bolshevism pius apparently ambiguous attitude towards the persecution of europe s jews also emerges from a meeting he had with the united states diplomatic representative to the vatican harold tittmann in october 1943 pius xii had appeared indifferent to the fate of more than a thousand jews rounded up in rome and sent to auschwitz pius xii had shown more concern over reports of communist gangs roaming in the environs of rome tittmann said at the time cardinal achille silvestrini a former vatican official in charge of foreign affairs who as a young priest served in pope pius private office said the pope had believed it would be counterproductive to speak out against nazi atrocities but dedicated himself to concrete actions 1 resurrecting formerly disgraced world war 2 figures is a sign of increased reactionary tendencies amongst sections of the ruling class 1 documents suggest pope pius xii more concerned about soviets than nazis world jewish congress 2 is every pontiff a saint nyt gibson 3 vatican confirms existence of possible miracle attributed to pius xii catholic news agency posted by purple at 8 11 am 1 comment obama budget ends constellation moon project done for possibly two reasons 1 a simple political attack on the red states where the ares rocket program is mostly located 2 china was probably going to beat us back so why even compete nasa is vital to improving science education in the public schools kids are just not inspired much by the thought of designing weapons systems and nasa has traditionally offered that inspiration dismantling and privatizing it is at odds with the whole science and technology culture obama portends to be creating 1 obama aims to ax moon mission orlando sentinal block and mathews posted by purple at 6 59 am no comments sliding towards a trade war the financial times states the obvious with us unemployment in double digits and a huge trade deficit with china complaints about chinese currency manipulation are getting a ready hearing in washington if china appears to be actively initiating a trade war the american reaction may well be bring it on the us public never liked the end results of free trade anyway especially in key electoral states such as michigan ohio an...
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