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quite incredible - the man who saved the world admits that he didn’t even understand bank contagion!

I am posting this again in order to emphasise just how serious this admission is.

Bank contagion is elementary economics, not something mysterious and unknowable. Any economist with basic knowledge knows this problem.

It has long been obvious that Gordon Brown the Clown is a dull, economic illiterate. He is so incompetent he does not even recognise how revealing is this admission.

He probably believes that by ‘owning up’ to something he believes an understandable error will gain him political advantage for ‘being frank’. This is a typical politician’s trick but, in this case, the ‘admission’ which he believes to be harmless is far worse than other inanity he could have chosen.

Brown’s irresponsibility, Enronisms and incompetence cannot even have been mere politician’s dishonesty. He must really believe his own tripe.

related material
bank systemic contagion


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on socialist labour’s economic mess - 1931 vintage, by baldwin

5:19 mins


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gradually the west learns to deal with primitives - the evolving end of the pc pussyfoot

un threatens air attacks:

“French and UN helicopters have fired on military camps operated by Ivory Coast incumbent leader Laurent Gbagbo, in a bid to halt attacks on civilians.”

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“The drones also are more than a surveillance tool, having been used as an offensive weapon in recent conflicts, where they are used to track, target —and sometimes attack—insurgent groups and terrorist cells. In Pakistan, the U.S. has waged a campaign of air strikes against al Qaeda using an armed version of the Predator, a drone made by General Atomics Aeronautical Systems, Inc.”

“ Both the humanitarian emergency in Japan and the air campaign over Libya underscore the increasing reliance of the Air Force—which has long prided itself on glamorous fighter jets—on aircraft piloted from offices thousands of miles from danger. The high-altitude Global Hawk, for instance, can stay aloft for as long as 32 hours. And because they carry no pilot, such aircraft can fly without fear of exposing crews to radiation or other hazards.

“Master Sgt. Victoria Meyer, a spokeswoman for the Air Force in the Pacific, said the Global Hawks were routinely swept for radiation after flights over Japan but added that no traces had been detected.

“In conflict zones such as Libya, remotely piloted aircraft provide an exceptionally finely grained picture of the battlefield. Peter Singer, the author of 'Wired for War,' a book about military robotics, said that unmanned aircraft "give you some amazing capabilities that targeting folks wouldn't have even dreamed of a few years or wars back, especially in accuracy and greater fidelity." ” [Quoted from online.wsj.com]

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“Ten years on from 9/11, al-Qaeda appears to be on the back foot. One of the main reasons is that its leadership no longer enjoys untouchable sanctuary in the tribal areas of Pakistan where for many years it has been able to plot and train its recruits.

The reason? Pilotless American drone aircraft with a payload of deadly Hellfire missiles, guided to their targets by remote control from thousands of miles away in the American desert.” [Quoted from bbc.co.uk]


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natwest bank has 14 targets for ‘helpful banking’ - just like fascist ‘new’ labour

It’s interesting that fascist ‘new’ Labour’s target driven ‘culture’ took over National Westminster, who are now running a government-owned, target-driven ‘culture’.

Some people will believe anything.

Stupidity is to keep doing what failed before, and expecting the results to be different.

Or, if you are a socialist, keep spending ever more on what doesn’t work!


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the innocent faux shock of western ‘reporters’

‘Reporters’ lie for a living.

Most people I’ve met from Islam roots think Westerners are naive and stupid because/when they tell the truth, or even behave in an open manner. “You’re so naive, Ican read your face” is the type of comment I’ve received!

They actually think lying and deceiving is ‘clever’.

Now our ‘reporters’, who mostly have not much more regard for facts, are expressing surprise that the Arabs who wanted the attack on Gaddafti are now hanging back,and even pretending it wasn’t what they really wanted/meant.

The Arab League now have exactly what they wanted - the West takes responsibility, while they can continue to whine and play the victim.

The reality is not well understood in the West.

Just because the Arab League are dishonest and unreliable, does not mean the advanced nations do not have to control the backward dictatorships.

The West must try to realise that these dictators are very conflicted. They are worried that they wi'll be next.

It is also false to believe that these dictatorships are all in this together on the same side. Quite widely, they actually hate each other and are rivals for power and status.


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on president wilson, 1919

“The first impression of Mr. Wilson at close quarters was to impair some but not all of these illusions. His head and features were finely cut and exactly like his photographs, and the muscles of his neck and the carriage of his head were distinguished. But, like Odysseus, the President looked wiser when he was seated; and his hands, though capable and fairly strong, were wanting in sensitiveness and finesse. The first glance at the President suggested not only that, whatever else he might be, his temperament was not primarily that of the student or the scholar, but that he had not much even of that culture of the world which marks M. Clemenceau and Mr. Balfour as exquisitely cultivated gentlemen of their class and generation. But more serious than this, he was not only insensitive to his surroundings in the external sense, he was not sensitive to his environment at all. What chance could such a man have against Mr. Lloyd George's unerring, almost medium-like, sensibility to every one immediately round him? To see the British Prime Minister watching the company, with six or seven senses not available to ordinary men, judging character, motive, and subconscious impulse, perceiving what each was thinking and even what each was going to say next, and compounding with telepathic instinct the argument or appeal best suited to the vanity, weakness, or self-interest of his immediate auditor, was to realize that the poor President would be playing blind man's buff in that party. Never could a man have stepped into the parlor a more perfect and predestined victim to the finished accomplishments of the Prime Minister. The Old World was tough in wickedness anyhow; the Old World's heart of stone might blunt the sharpest blade of the bravest knight-errant. But this blind and deaf Don Quixote was entering a cavern where the swift and glittering blade was in the hands of the adversary.

“But if the President was not the philosopher-king, what was he? After all he was a man who had spent much of his life at a University. He was by no means a business man or an ordinary party politician, but a man of force, personality, and importance. What, then, was his temperament?

“The clue once found was illuminating. The President was like a Nonconformist minister, perhaps a Presbyterian. His thought and his temperament wore essentially theological not intellectual, with all the strength and the weakness of that manner of thought, feeling, and expression. It is a type of which there are not now in England and Scotland such magnificent specimens as formerly; but this description, nevertheless, will give the ordinary Englishman the distinctest impression of the President.

“With this picture of him in mind, we can return to the actual course of events. The President's program for the World, as set forth in his speeches and his Notes, had displayed a spirit and a purpose so admirable that the last desire of his sympathizers was to criticize details,—the details, they felt, were quite rightly not filled in at present, but would be in due course. It was commonly believed at the commencement of the Paris Conference that the President had thought out, with the aid of a large body of advisers, a comprehensive scheme not only for the League of Nations, but for the embodiment of the Fourteen Points in an actual Treaty of Peace. But in fact the President had thought out nothing; when it came to practice his ideas were nebulous and incomplete. He had no plan, no scheme, no constructive ideas whatever for clothing with the flesh of life the commandments which he had thundered from the White House. He could have preached a sermon on any of them or have addressed a stately prayer to the Almighty for their fulfilment; but he could not frame their concrete application to the actual state of Europe.

“He not only had no proposals in detail, but he was in many respects, perhaps inevitably, ill-informed as to European conditions. And not only was he ill-informed—that was true of Mr. Lloyd George also—but his mind was slow and unadaptable. The President's slowness amongst the Europeans was noteworthy. He could not, all in a minute, take in what the rest were saying, size up the situation with a glance, frame a reply, and meet the case by a slight change of ground; and he was liable, therefore, to defeat by the mere swiftness, apprehension, and agility of a Lloyd George. There can seldom have been a statesman of the first rank more incompetent than the President in the agilities of the council chamber...”
[From chapter 3, The economic consequences of the peace, by John Maynard Keynes]

Quoted from The economic consequences of the peace by John Maynard Keynes

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