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Michael Clark

Michael Clark
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  • New Thai "Women": A Solution For China's Man Surplus? [View instapost]
    Interesting story about your family. I'm afraid we might be entering another 'hot' period of history.

    I'm sure Chinese in America found a very racist environment for inter-marriage in your father's era. In Vietnam today, many Vietnamese women want to marriage rich foreigners, of any race. There is a kind of idealization of the foreigners -- Vietnamese girls all seem to looking for a way out, a better life, with a foreign man. I think Vietnamese men are getting tired of it -- and the Chinese sweeping down to buy Vietnamese girls (Koreans, Japanese, and Taiwanese also buy Vietnamese girls) is creating frustration among Vietnamese men. But they can't compete in terms of money, generally speaking. They try to swallow their pride -- but it isn't easy, and I'm sure it doesn't taste very good.
    Jan 22, 2010. 09:35 AM | 1 Like Like |Link to Comment
  • Is Brown’s Win What Sparked Obama’s War on Wall Street? [View article]
    Remember the 1960's and the race riots and the political assassinations and the demonstrations against the Vietnam War and the killings at Kent State....

    Remember the 1930's and the labor riots and violent strikes, race riots (Toronto, 1933; Harlem, 1935; Detroit, 1943) -- and the European and Asian riots, invasions, political repressions, leading up to the World War....

    If this Night-Cycle is like those, the fighting won't be faked. It will be passionate and life-and-death.
    Jan 22, 2010. 09:24 AM | Likes Like |Link to Comment
  • The No-Recovery Economy and Its Effect on the 2010 Elections [View article]
    Actually the war on small business is coming mainly from the consumer who is fighting for his/her life and is insolvent. I knew people who were paying their mortgage with their credit card, thinking appreciating home prices would take care of everything.

    The next time we see that our economy is expanding while personal, corporate and governmental debt is also expanding, it's time to begin selling -- and time for the Fed to start raising interest rates. If the economy expands from investment (personal and institution 'saving'), this is a healthy expansion. When this is replaced by debt financing, then the sunset is in sight.

    People are afraid. And they have stopped spending.
    Jan 22, 2010. 08:29 AM | 3 Likes Like |Link to Comment
  • The New Populist Approach to Banking Reform [View article]
    It was a wasted year. I will forgive Obama for this is he makes up for it with a second half rally.

    "If it's not broken, don't fix it." Well, the news is: it IS broken.
    Jan 22, 2010. 08:21 AM | 2 Likes Like |Link to Comment
  • Less Obvious Consequences of the Massachusetts Election [View article]
    Yes. Our private sector has been creating jobs in China, Vietnam, the Philippines, Mexico, India...for 20 years now. I'm sure they are appreciated for what they are doing in those foreign countries. When do they start creating jobs in America. They won't, unless the tax laws require them to do so (generously benefit them to do so). A major goal of the global-economy theology was to destroy American unions. American business did a pretty good job at that.

    If it wasn't for the government creating jobs in America today there would be NO JOB creation at all.

    Those people wanting government to 'get out of the way' and let private enterprise take over are going to be disappointed, as private enterprise is cutting jobs, cutting costs, and using all its profits to pay down debt. Private enterprise is a decade away from actually expanding job creation again.

    The expansive power of private enterprise is periodical. In American history every 18 years private enterprise stumbles, falters and disappears -- almost always after a banking scandal and a period of major corruption and theft -- having expanded beyond its own debt limits. Government, then, tries to fill the void. Government tries to take over the role of job creator (and/or with unemployment insurance, welfare, food-stamps, social services) since private enterprise has been forced to turn inward, to fight for its own survival through controlling costs and paying off debt.

    We are not recovering. We are in a protracted contraction or depression that will last at least another decade. American business is not going to be able to grow until it pays off its debt, until the American consumer pays off its debt, and until the global economy works off its debt through payment, through bankruptcy and through default.

    Private enterprise has had its glory. Public enterprise will have to help us through the darkness, now that private enterprise has ingloriously left the building.
    Jan 22, 2010. 08:10 AM | 1 Like Like |Link to Comment
  • Reacting to the Obama Plan [View article]
    Arrogance is not a good form of public relations. It's odd no one on Wall Street has realized this.
    Jan 22, 2010. 02:49 AM | Likes Like |Link to Comment
  • The No-Recovery Economy and Its Effect on the 2010 Elections [View article]
    We are in between the proverbial rock and hard place. More of the same means, like Japan, lost decades in a 'I'm hiding my debt, how about you' scenario. The outcome is a state of eternal stagnation.

    Raising rates means a confrontation with out debt. Bankruptcies, yes. Defaults, yes. But the 'Big Lie' is the 0% interest rate -- when the market wants rates to go higher.

    Volcker represents higher interest rates -- and he is now standing on Obama's right hand. Geithner has apparently said he opposes Obama's new bank rules. This means he is on his way out -- to a multi-million dollar a year job with GS or some other receptacle.

    We've been lying to ourselves about debt -- and now that has to end. Better five years of sharp pain than 35 years of a constant dull pain, a death by 10,000 cuts.
    Jan 22, 2010. 02:46 AM | 12 Likes Like |Link to Comment
  • Is Brown’s Win What Sparked Obama’s War on Wall Street? [View article]
    The fight will be bloody; and, in truth, no side wins totally. But the fight helps to approximate a balance, a balance which has been lost over the last two decades.
    Jan 22, 2010. 02:38 AM | 1 Like Like |Link to Comment
  • The No-Recovery Economy and Its Effect on the 2010 Elections [View article]
    It's time to unload the Goldman Sachs government. Geithner out; time to ask Bernanke to withdraw his name for re-appointment as Fed Chair; time to get Simon Johnson in as Fed Chair.
    Jan 22, 2010. 01:55 AM | 11 Likes Like |Link to Comment
  • The No-Recovery Economy and Its Effect on the 2010 Elections [View article]
    "Americans need to be told that they will need to invest before they can consume, and that the cure will take years rather than months to take effect. It’s not a happy message, and no one in politics is willing to deliver it - if indeed anyone in politics understands it."

    Could not agree more. (Isn't that where Paul Volcker comes in? Obama needs to use Volcker as the boogyman, a role for which Volcker seems to have been born.)
    Jan 22, 2010. 01:53 AM | 13 Likes Like |Link to Comment
  • Wow: No Bonuses at Goldman [View article]
    An hour late and a dollar short. The die has been cast.
    Jan 22, 2010. 01:47 AM | Likes Like |Link to Comment
  • U.S. Banks to Face New Trading Restrictions [View article]
    Wall Street gorillas and face-sucking squid.
    Jan 22, 2010. 01:45 AM | 1 Like Like |Link to Comment
  • U.S. Banks to Face New Trading Restrictions [View article]
    Spanking Geithner and Bernanke is only moving to the left if you view Goldman Sachs as the center.

    Goldman Sachs needs a public spanking.

    Obama is throwing down the gauntlet. Populist Republicans portray Big Government as the villain. Populist Democrats will now portray Big Business as the villain. It won't be good for the stock market. But maybe interest rates will go up; and maybe we can begin to drain all the worthless dollars from circulation and begin rewarding Americans for saving instead of just spending and taking on debt.

    We have been drunk on debt for at least a decade too long. It's time to dry out and begin to discover our roots again, which include temperance, strength and discipline....instead of worship of the mall.
    Jan 22, 2010. 01:43 AM | 2 Likes Like |Link to Comment
  • Is Brown’s Win What Sparked Obama’s War on Wall Street? [View article]
    No question, Mister Brown's victory is the catalyst. This means Obama can no longer sit on the fence, praying that Bernanke's gimmicks will revive a bubble that will bring back the golden age of spend, spend, spend what you don't have.

    Republican populism is to portray Big Government as the villain. Democratic populism is to portray Big Business as the villain.

    The Big Government as villain act has been playing successfully since 1983, during which time the Republican controlled government has gotten bigger and bigger -- and the national debt has become unmanageable.

    The Big Business as villain act is just beginning. Who is going to answer for the greatest theft of public money in the history of the planet? Who is going to answer to millions of American jobs being shuttled overseas to Asia, India or down to Mexico?

    Which populism will have more traction? Clearly the Republican populism wins when the Democrats aren't playing. But now that the Democrats have joined the war, the outcome might be different.

    Obama lost round one to Scott Brown. But this is a heavyweight fight, lasting 15 rounds.

    Someone should send Obama a biography of Teddy Roosevelt. The rich corporations, in fact, have no legitimate right to own the American government.
    Jan 22, 2010. 01:33 AM | 3 Likes Like |Link to Comment
  • Less Obvious Consequences of the Massachusetts Election [View article]
    I think, also, that the vote was against the status quo, even though the man they elected -- Mister Brown -- was a man decidedly OF the status quo. He promised the voters he was for the status quo. We'll defeat Washington; I will support the health-care status quo...! In fact, Republicans, in my lifetime at least, have ALWAYS supported the status quo. Their revolution is to emasculate the power of government and to empower the private accumulation of wealth. In truth, they really don't want to emasculate the government -- they only want to emasculate the part of the government that is interested in passing laws that constrict their own ability to accumulate private wealth. They are very happy with Republican control of Big Government. Government did not shrink during the Republican Day-Cycle (1983-2001), it grew. Big Government is the straw man for Republicans, as Big Business is the straw man for Democrats.

    The Republican populism is against Big Government. The Deomocratic populism is against Big Business. So, right on cue, Obama finally realizes that he needs to pick up the big stick and begin using it on big business. Teddy Roosevelt needs to become his model, instead of Abraham Lincoln.

    I agree that Geithner is gone. I also think Bernanke is becoming a dead horse: you can beat him but he will not work. Perhaps Volcker and Simon Johnson are taking over there.

    For Obama to get back the momentum he has lost to the Republican portrayal of Big Government being the villain he will have to portray Big Business as the villain...and America will get back to the class war in favor of the poor by which all Night-Cycles are characterized (think 1929-1947; 1965-1983). Class Warfare in favor of the rich characterizes all Day-Cycles (think 1947-1965; 1983-2001).

    During the Day-Cycles the businessmen are lionized. The entrepreneur has his own tv show, is on the cover of every magazine. Getting rich is the international obsession, getting rich at any price: cheating, stealing, counterfeiting, whatever it takes. Abusing the working class is fine also; shipping their jobs overseas is good business. Ethics, morality are old-fashioned ideas -- the 'Bottom Line' is all that matters. Taking care of one's own nation and one's neighbors gives way to taking care of oneself only. But then something happens. The Solar Hero, the Fertility Principle, gets wounded, loses his power, and falls. The light of material success and security goes out. And the world gets dark.

    During the Night-Cycles the businessmen are decried as the rapists and destroyers of the working class and the planet. No more spotlight for Donald Trump, for Richard Branson, for Bill Gates and Warren Buffet. Now, the rich are seen as (and portrayed in art, movies, literature) the force of selfish evil. When I was going to college in 1970-74, only the nerds were in business school. A generational door opened up; the corporations were clearly seen as the anti-Christ principle.

    The war of perceptions goes on and on. Who will America see as the greater force of evil, Big Government or Big Business? This perception struggle (an illusion of course, since your perception depends upon where you are on the wheel of life -- and what color the light is that is shining on the world from your perspective) is what drives the planet, drives history, not truth, which sees the role that both sides play together, but emotionally-fused perceptions.

    From the anti-matter perspective, matter is evil. From the matter perspective, anti-matter is evil.

    The Cole Porter song asks: 'Should I order arsenic or champagne?' It depends upon your perspective I guess.

    For one perspective, the future is opening up. For the other perspective, the future is closing down. Which is which will be illuminated by history's unfolding I guess.
    Jan 22, 2010. 01:19 AM | Likes Like |Link to Comment