Posts tagged tyranny

Buy EURUSD at 1.2172

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Every retarded 5th-decimal-place chaser in the world has decided to slam short on EURUSD (of course ,they decide this after the Euro is 25 handles off its high, and 120 pips of its recent swing high… at which point you could not find a pullback for money nor jam).

EURUSD will gut them just as it gutted the same sort of fucktard who was slamming into the offer up above 1.25…

 

Likewise, Gold. Seriously? Gold’s weak? Oh, well I guess that means that the political shitbags have got a solution for the fuckups that keep emerging: from PFG, MFG, Madoff, RepCo, Enron, LIBOR, WorldCom, Greece, Spain, France… and QEn, n=1,…,∞ : of course! Makes sense. They’ve got it sorted, so there won’t be ‘beggar thy neighbour’ printing, and so there’s less risk of future inflation today, than there was yesterday or the day before.

 

Seriously? Someone’s going to try to run that shit up the flagpole? Sorry, no sale.

So get on the ‘wrong’ side of the GOld market too – be a buyer at 1563 (basis XAUUSD) and ride that sucker up a couple hundred bucks.

Priceless… Unhinged Tribal Lunacy

I'm not a big fan of jack Black (although Tenacious D can be funny at times), but the clip below from Year One captured perfectly the absolute preposterous fucking lunacy behind Red Sea Pedestrianism.

Now before we get to the clip itself, let's try to put this into some context.

Take a look at this picture – of a patch of sky the size of a fingernail. There are tens of thousands of galaxies in that little area.

Tiny Patch of Sky

Each galaxy contains hundreds of billions of stars: that fingernail-sized piece of sky contains (roughly) a quintillion stars. And it's less than 1/1000th of the total sky.

Now… the world's 3 major religions would have you believe that from all that, a lone Mesopotamian goatherd (who was incestuously married to his half-sister) was decreed to be God's Chosen… in exchange for cutting bits of the penises of every male child, in perpetuity.

Get that through your skull: from (at least) several sextillion stars, "Hashem" decided that mastery would be granted to some nomadic Iron Age sister-fucker… so long as he committed to sexually mutilating his offspring.

That, dearest Reader, is among the most fucked-up things upon which you could ever base a 'religion'.

So yuk it up at the clip, by all means – but internalise what it means at root: anytime someone says you have to show 'respect' for religion, you are being told that you have to support child genital mutilation. (And I have deliberately not touched on the path of genocide, theft, double-crossing and bad faith that took place during Exodus… that is for later, as is some of the really vile stuff from the Midrash and/or the Babylonian Talmud… you could not find more ignorant nonsense if you tried to make it up yourself).

 

And now the clip… for the purposes of criticism (it's good).

 

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Assange Arrested; Leaks to Continue…

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This post will be the top story for a while – normal market reports will appear below it.

 

First things first: MarketMentat stands in full support of everything Wikileaks does, and stands for. To that end: MM has a Wikileaks mirror where you, the dear Reader, can view the Wikileaks Cable releases as they happen (to date, less than 1000 of the 251,000 cables have actually been made public).

The mirror is at http://wikileaks.marketmentat.com so go there and enjoy. For a complete list of mirrors (there are now over 1000) see our mirror list.

 

As youse are probly all aware, Julian Assange has been arrested pursuant to the ludicrous trumped-up charges forced down the neck of the Swedish justice system by Marianne Ny – a woman who got tetchy after the international embarrassment of having the initial warrant rescinded within hours of its issue.

Update: JA was denied bail in the 16th-century set-piece that folks for some reason still think is relevant (yes, OK… the State has all the guns and most of the armed goons – I get that). The Australian government, in its usual display of supine gutless craven power-worship to the 'superpower du jour', did the same thing as they always do – kissed ass and refused to aid its citizen.


While JA is a very important fellow in the global information movement, this is not some silly B-Western where you capture (or kill) the guy with the biggest head-dress and the rest of the braves scatter like chaff in the wind. The Yanks (and governments generally) like to think in those terms when considering their 'enemies' – and yet if you suggested that the US or UK would fall apart if Obama or Cameron were assassinated, folks would think you need your head read.

The political parasite class is fighting what I have referred to as a 5th generation enemy (extending William Lind's taxonomy, which tops out at 4th generation).

Lind's taxonomy is something like:

  • Ist gen: line and column. Rebs and Union line up across from each other, and shoot;
  • 2nd gen: linear fire and movement (WWI-style set pieces; WWII pitched battles);
  • 3rd gen: manoeuvre warfare: Waffen-SS (and to a lesser extent, paratroopers and US Marines); bypass or punch through enemy front lines, then attack from the rear
  • 4th gen is decentralised insurgent/guerilla warfare; the enemy is decentralised, there are no pitched battles: all the enemy has to do is wait. (In some sense the American Revolutionary War had some aspects of this – but far better examples are US in VietNam, Russia, US in Afghanistan, US in Iraq.. all losses for the 2nd/3rd gen powers against the 4th gen enemy)

A fifth generation engagement involves the same 'ghostly' hard to grasp decentralised structure, where there is no 'field' of battle; there is no territorial (in the genuine sense – terre or terradirt) objective… and a goodly chunk of the enemy are within your own home territory.

The enemy – us – does not require armaments, and their objective is to force civilised behaviour on those who live by scoffing our taxes: by 'civilised' I don't mean polite phraseology or bowing to the Queen; I mean stopping fucking killing peasants in far flung parts of the world as part of some ludicrous pissing contest between fucking megalomaniacs.

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OzRant for Monday, December 6th 2010

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Ords slightly (0.01%) lower; volume above average with breadth evenly split: sector indices mixed. The NZSE50 closed with a gain of 0.3% for the day. In Japan, the Nikkei225 is currently trading down 0.1% for the session; Hong Kong's Hang Seng is showing a 0.6% gain.The KOSPI has lost 0.1% so far today.

 

Too busy to be able to add prefatory malakies (except for this prefatory malakies); I'm testing MM's Wikileaks mirror (want to do it too? Here's how), and trying to get a mirror set up on my phone too (want to do it too? Here's how).

There are now over 500 mirrors of wikileaks around the world, and an untold number of anonymous Android phones using wifi to silently mirror the site. The list of mirrors I posted yesterday is now way way too short, and out of date.

See what government is up against? Memo to Conroy: eat shit and die, you parasite.

 

The following economic data was released during the session:

  • ANZ Job Advertisements m/m for November 2010 was released in Australia; the outcome was 2.9% an increase of 2.2 from the prior reading of 0.7%

Major Market Indices

The broad market – the All Ordinaries (XAO) – declined gently, dropping 0.7 points (0.01%), finishing at 4779.4 points. The index hit an intraday high of 4794.1 at 10:17 am, while the low for the day was 4778.1 – set at 3:01 pm Sydney time.

Total volume traded on the ASX was 2.38bn units, 11.8% above its 10-day average of 2.13bn shares.The ASX's daily listing of all stocks included 1361 different 3-letter FPO's which traded (i.e., had non-zero trade volume). Of these, 573 issues rose, with volume in rising issues totalling 1.24bn units; there were 473 declining stocks, which traded aggregate declining volume of 693.2m shares.

Of the 497 All Ordinaries components, 207 rose while 154 fell. Aggregate volume within the All Ords was evenly split – 420.1m shares traded in gainers while 431.94m shares traded in the day's losers.

The Index that forms the cash basis for the SPI Futures – the S&P/ASX 200 (XJO) – fell mildly, losing 5.6 points (0.12%), closing out the session at 4688.6 points.

GT Intraday Chart

Name Close +/-(%)
All Ordinaries 4779.40 -0.70 (0.0%)
ASX 20 2802.10 -6.60 (0.2%)
ASX 50 4651.50 -12.40 (0.3%)
ASX 100 3813.70 -6.90 (0.2%)
ASX 200 4688.60 -5.60 (0.1%)
ASX 300 4698.40 -4.00 (0.1%)
ASX Mid-Cap 50 4376.70 21.70 (0.5%)
ASX Small Ordinaries 2776.00 23.60 (0.9%)

The "heavy hitters" of the Australian market – the ASX 20 Leaders (XTL) – slid modestly, falling 6.6 points (0.23%), closing out the session at 2802.1 points.

Among the 20 big guns, 6 index components finished to the upside, and 15 lost ground. The stocks which make up the index traded a total of 109.83m units; 6 index components rose, with rising volume amounting to 18.22m shares, while the 15 decliners had volume traded totalling 91.62m units. The major percentage gainers within the index were

  • CSL Ltd (CSL), +$0.87 (2.47%) to $36.15 on volume of 2.5 million shares;
  • Woodside Petroleum Ltd (WPL), +$0.47 (1.11%) to $42.68 on volume of 2.5 million shares;
  • Newcrest Mining Ltd (NCM), +$0.35 (0.86%) to $41.09 on volume of 2.5 million shares;
  • AMP Ltd (AMP), +$0.02 (0.39%) to $5.13 on volume of 5.6 million shares; and
  • Origin Energy Ltd (ORG), +$0.02 (0.12%) to $16.14 on volume of 1.4 million shares.

On the less salubrious side of the big-cap fence, the following stocks were the worst-performed within the index:

  • Westpac Banking Corp (WBC), -$0.25 (1.14%) to $21.68 on volume of 5.8 million shares;
  • Brambles Industries Ltd (BXB), -$0.07 (1%) to $6.92 on volume of 7.1 million shares;
  • National Australia Bank Ltd (NAB), -$0.21 (0.88%) to $23.72 on volume of 3.6 million shares;
  • Stockland (SGP), -$0.03 (0.81%) to $3.67 on volume of 5 million shares; and
  • Woolworths Ltd (WOW), -$0.19 (0.71%) to $26.48 on volume of 2.4 million shares.

The ASX Small Ordinaries (XSO) swam in the opposite direction to the big fish today. posted a gain despite weakness in the big-caps. The Small Ords advanced by under a percent, adding 23.6 points (0.86%), closing out the session at 2776 points.

Among the stocks that make up the Small Caps index, 124 index components finished to the upside, and of the rest, 61 closed lower for the session.

The 235 stocks which make up the index traded a total of 641.8m units: volume in the 124 gainers totalling 280.56m shares, with trade totalling 152.09m units in the index's 61 declining components. The major percentage gainers within the index were

  • Mintails (MLI), +$0.12 (983.33%) to $0.13 on volume of 12.2 thousand shares;
  • MEO Australia Ltd (MEO), +$0.10 (23.26%) to $0.53 on volume of 36 million shares;
  • Riversdale Mining Ltd (RIV), +$2.21 (15.67%) to $16.31 on volume of 2.6 million shares;
  • Minemakers Ltd (MAK), +$0.04 (10.39%) to $0.43 on volume of 2.9 million shares; and
  • Oilex Ltd (OEX), +$0.03 (10.34%) to $0.32 on volume of 2.2 million shares.

In the red-zone of the little-stock index, the following list represents the biggest downers (in terms of percentage decline):

  • Sigma Pharmaceuticals Ltd (SIP), -$0.09 (17.35%) to $0.41 on volume of 25.4 million shares;
  • Australian Pharmaceutical Ind (API), -$0.05 (9.9%) to $0.46 on volume of 3.5 million shares;
  • Nexbis Ltd (NBS), -$0.01 (5.1%) to $0.09 on volume of 1.7 thousand shares;
  • Bannerman Resources Ltd (BMN), -$0.03 (5.08%) to $0.56 on volume of 1.9 million shares; and
  • Lynas Corporation Ltd (LYC), -$0.07 (4.43%) to $1.51 on volume of 34.5 million shares.

 

Index Changes
Code Name Close +/- % Volume
XAO All Ordinaries 4779.4 -0.7 -0.01 1156.1m
XFL ASX 50 4651.5 -12.4 -0.27 241.5m
XJO ASX 200 4688.6 -5.6 -0.12 936.1m
XKO ASX 300 4698.4 -4 -0.09 1097.2m
XMD ASX Mid-Cap 50 4376.7 21.7 0.5 313.5m
XSO ASX Small Ordinaries 2776 23.6 0.86 542.2m
XTL ASX 20 2802.1 -6.6 -0.23 104.8m
XTO ASX 100 3813.7 -6.9 -0.18 555m
Market Breadth
  ASX20 XTO XJO XAO XSO Market
Advances 6 42 117 209 124 573
Declines 15 48 88 155 61 473
Advancing Volume 18.2m 139m 330.5m 421.3m 280.6m 1.24bn
Declining Volume 91.6m 277.6m 481.4m 435.4m 152.1m 693.2m
GICS Industry Indices

Among the 11 industry indices, 3 registered an advance for the session, the remaining 8 lost ground.

The best performing index was Healthcare (XHJ), which added 94.1 points (1.08%) to 8831.3 points. The 10 stocks which make up the index traded a total of 66.75m units; 4 index components rose, with rising volume amounting to 8.24m shares, while the 5 decliners had volume traded totalling 46.36m units. The major percentage gainers within the index were

  • Primary Health Care Ltd (PRY), +$0.12 (3.55%) to $3.50 on volume of 4.9 million shares;
  • CSL Ltd (CSL), +$0.87 (2.47%) to $36.15 on volume of 2.5 million shares;
  • Ramsay Health Care Ltd (RHC), +$0.24 (1.54%) to $15.79 on volume of 362.3 thousand shares; and
  • Ansell Ltd (ANN), +$0.20 (1.49%) to $13.62 on volume of 411.8 thousand shares.

Second in the index leadership stakes was Energy (XEJ), which gained 155.7 points (0.99%) to 15910.9 points. The 23 stocks which make up the index traded a total of 102.16m units; 15 index components rose, with rising volume amounting to 24.25m shares, while the 3 decliners had volume traded totalling 7.1m units. The major percentage gainers within the index were

  • Riversdale Mining Ltd (RIV), +$2.21 (15.67%) to $16.31 on volume of 2.6 million shares;
  • Eastern Star Gas Ltd (ESG), +$0.02 (2.65%) to $0.78 on volume of 2.6 million shares;
  • Extract Resources Ltd (EXT), +$0.17 (1.97%) to $8.80 on volume of 318.4 thousand shares;
  • Aquila Resources (AQA), +$0.19 (1.91%) to $10.15 on volume of 404.9 thousand shares; and
  • Caltex Australia Ltd (CTX), +$0.23 (1.66%) to $14.12 on volume of 521.2 thousand shares.

The bronze medal for today goes to Materials (XMJ), which climbed 23.1 points (0.17%) to 13795.8 points. The 46 stocks which make up the index traded a total of 287.54m units; 29 index components rose, with rising volume amounting to 170.7m shares, while the 12 decliners had volume traded totalling 63.56m units. The major percentage gainers within the index were

  • Sundance Resources Ltd (SDL), +$0.03 (6.94%) to $0.39 on volume of 62.1 million shares;
  • Mirabela Nickel Ltd (MBN), +$0.11 (5.91%) to $1.97 on volume of 4.1 million shares;
  • Murchison Metals Ltd (MMX), +$0.06 (4.88%) to $1.29 on volume of 6.7 million shares;
  • Medusa Mining Ltd (MML), +$0.29 (4.41%) to $6.86 on volume of 1.4 million shares; and
  • Independence Group NL (IGO), +$0.30 (4%) to $7.80 on volume of 792.4 thousand shares.

The worst-performed index for the session was Information Technology (XIJ), which dipped 8.3 points (1.33%) to 614.6 points. The 3 stocks which make up the index traded a total of 1.54m units; The 3 decliners had volume traded totalling 1.54m units, – none of the index components ended with a gain. The major percentage decliners within the index were

  • Computershare Ltd (CPU), -$0.15 (146%) to $10.13 on volume of 1.1 million shares;
  • Iress Market Technology Ltd (IRE), -$0.06 (0.69%) to $8.66 on volume of 265.8 thousand shares; and
  • SMS Management & Technology Ltd (SMX), -$0.04 (0.6%) to $6.62 on volume of 221 thousand shares.

Just missing out on the wooden spoon was Property Trusts (XPJ), which slid 5.3 points (0.62%) to 845.2 points. The 16 stocks which make up the index traded a total of 170.32m units; The 7 decliners had volume traded totalling 68.99m units, and 4 index components rose, with rising volume amounting to 16.1m shares, The major percentage decliners within the index were

  • Astro Japan Property Group (AJA), -$0.01 (1.43%) to $0.35 on volume of 1.1 million shares;
  • CFS Retail Property Trust (CFX), -$0.03 (1.4%) to $1.77 on volume of 5.9 million shares;
  • Mirvac Group (MGR), -$0.02 (1.17%) to $1.27 on volume of 7.9 million shares;
  • GPT Group (GPT), -$0.03 (1.07%) to $2.77 on volume of 10 million shares; and
  • Stockland (SGP), -$0.03 (0.81%) to $3.67 on volume of 5 million shares.

Third-to-last amongst the sector indices was Industrials (XNJ), which slid 22.4 points (0.6%) to 3742.2 points. The 32 stocks which make up the index traded a total of 66.7m units; The 13 decliners had volume traded totalling 49.57m units, and 15 index components rose, with rising volume amounting to 16.16m shares, The major percentage decliners within the index were

  • Ausenco (AAX), -$0.06 (2.11%) to $2.78 on volume of 472.2 thousand shares;
  • Asciano Group (AIO), -$0.04 (2.06%) to $1.66 on volume of 9 million shares;
  • Downer EDI Ltd (DOW), -$0.08 (1.79%) to $4.40 on volume of 1.6 million shares;
  • Toll Hldgs Ltd (TOL), -$0.11 (1.75%) to $6.19 on volume of 2.3 million shares; and
  • Bradken Ltd (BKN), -$0.14 (1.56%) to $8.81 on volume of 380.6 thousand shares.
Sector Indices
Code GICS Sector Close +/- % Volume
XHJ Healthcare 8831.3 94.1 1.08 67m
XEJ Energy 15910.9 155.7 0.99 102m
XMJ Materials 13795.8 23.1 0.17 288m
XDJ Consumer Discretionary 1516.7 -0.4 -0.03 88m
XUJ Utilities 4420.8 -8.6 -0.19 25m
XSJ Consumer Staples 7648.3 -31.9 -0.42 37m
XXJ Financials ex Property Trusts 4985.1 -21.7 -0.43 43m
XTJ Telecommunications 965.9 -5.5 -0.57 47m
XNJ Industrials 3742.2 -22.4 -0.6 67m
XPJ Property Trusts 845.2 -5.3 -0.62 170m
XIJ Information Technology 614.6 -8.3 -1.33 2m

All Ordinaries Major Movers

All Ords Volume Leaders
Code Name Close +/- % Volume
AOE Arrow Energy 4.68 0.00 0 66.9m
IIF ING Industrial Fund 0.52 0.00 0 62.4m
SDL Sundance Resources Ltd 0.39 0.03 6.94 62.1m
FXJ Fairfax Media Ltd 1.41 -0.03 -2.08 59.7m
LGL Lihir Gold Ltd 4.48 0.00 0 41.1m
All Ords Percentage Gainers
Code Name Close +/- % Volume
MLI Mintails Ltd 0.13 0.12 983.33 12.2k
MEO MEO Australia Ltd 0.53 0.10 23.26 36m
RIV Riversdale Mining Ltd 16.31 2.21 15.67 2.6m
CUE CUE Energy Resources 0.40 0.05 12.68 4.8m
MAK Minemakers Ltd 0.43 0.04 10.39 2.9m
All Ords Percentage Losers
Code Name Close +/- % Volume
SIP Sigma Pharmaceuticals Ltd 0.41 -0.09 -17.35 25.4m
CII CI Resources Ltd 0.50 -0.07 -12.28 1k
API Australian Pharmaceutical Ind 0.46 -0.05 -9.9 3.5m
AVJ AVJennings Ltd 0.48 -0.04 -7.69 11.4k
RPX RP Data Ltd 1.09 -0.07 -6.03 15.4k

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List of Wikileaks Mirrors: Please Reblog

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Fight Censorship. Alternate domains include:

So many more after the break: PLEASE REBLOG, RETWEET ETC.

 

 

The cablegate index can then usually be reached by either clicking the link marked “Cablegate: 250,000 US Embassy Diplomatic Cables” or typing cablegate.html after the domain name.

Additional mirror lists:

All of these mirrors seem safe as of 5:04PM PST. If any of these mirrors go down or lead to somewhere malicious please do not hesitate to contact me! If you have any new mirrors please do not hesitate to contact me! I will edit this list!

PLEASE REBLOG, RETWEET ETC.

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PornoScanners + PhotoShop -> Profit!!!

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For those of you who are stupid enough to believe your overlords when they tell you that there are no concerns which arise from the new pornoscanners used by the degenerate, sociopath-staffed molestation agency (known as the TSA)… shut your pie-holes.

 

Exhibit 1: a scan of a nicely formed young lovely (remember how your overlords promised you that the scanners can't store and transmit images? Oopsie!) passed through a simple colour filter.

Given the types of scumbag who work for the TSA (see, for example, the Pro Libertate blog entry on the criminal rapist scum who got jobs at the TSA), there is NO WAY I would permit these creepy shitbags to get a scan of my junk, or of my Lovely's junk, neither.

Short airlines – although they're already screwed (and I've always said they're value-destroyers), this will cause several airline stocks to go to zero.

Download This. Mirror It. Keep It Safe.

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As youse may or may not be aware, your Beloved WIkileaks just released a bunch of sit-reps originating from the US death-machine as it rapes Afghanistan.

And now we find it very hard to see Wikileaks' main site. (Go here for the mirror list but expect each of those sites in turn to develop 'issues').

The material is already pretty safely distributed – on freenet of course, but also in a bunch of other locations: if nothing else, your Beloved Wikileaks makes sure that material has a permanent untraceable home before the primary release to the public through the site.

A bunch of other stuff is coming that is yet more revealing about the crapulence of those who would continue to enslave us (and their mindless thug-drones), but I really do recommend that those of youse who understand how to use a Google Earth KML file, take the time to view this one.

I'm uploading the entire archive onto the RantSpace so that like-minded chums can download it from there… if you download it, make an encrypted copy and store that on a removable device.

The links are as follows (these files are unencrypted: 7Zip is a freeware archive manager):

Entire archive (7Zipped HTML)

Google Earth (7zipped KML)

Armed Scumbags “Following Orders”…

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I don't give a shit whether this skinny woman was the subject of a 'warrant' – a warrant is nothing more than a document issued by a robed political apparatchik: every act I perpetrate is also covered by a warrant (I play dressup and issue them myself).

These doughnut-inhaling scumbags were acting like thugs, and I fully support any action to remedy the wrong they perpetrated.

History shows that once the political class over-reaches, their drone-thugs start to view themselves as above the 'law' (the collected opinion of the parasite class). Then, elements in the community start to take matters into their own hands.

If I were these two fat shitbags, I would start wearing Kevlar to bed: Youtube (and other repositories) is starting to develop real traction as a global mechanism for sousveillance… ask yourself how easy it would be to get these fat jerks' personal details – then ask yourself if you want to be in their shoes.

Blogosphere is Leading Anti-‘Bukkake’ Movement

From ZeroHedge to MarketTicker to Mish, the blogsphere's prime-movers are leading the push to oust Ben "I know all about central banking because I wrote a thesis about it" Bernanke – the lead enabler of Goldman's bukkake-act on the US taxpaying classes. Perhaps I change my nickname for him from "Dr Helichopper' to "Professor Bukkake".

Funny thing about a PhD… those who have been involved in their pusuit, succeed or fail primarily based on the extent to which they 'buy' the academic bullshit – filling out forms, interacting with the 'grey matter' of Universities (those in grey suits), and so forth.

I'm not sure if it was Lachie Macquarie or Mark Harris that first introduced me to the idea that PhD stood for 'Piled higher and Deeper' – Mark finished his (and is a top bloke, for a short Pom), but Lachie went to work at PIMCO. Mark started before the layer opf professional bullshit-artists took over universities though, so he should be forgiven.

 

Ditch never finished… Siouclis did. Siouclis is now an ATO bureaucrat.

GT didn't… Marshall did (sorry Peter… no hard feels, K?). Marshall is now a bureaucrat (at the ACCC, I think)

Chris Ulf didn't (as far as I'm aware).

In other wirds ,the top students from my year (Me, Ditch, Ulf, Amanda Sinn) did not stick out the PhD (Sinn finished law, so the comparison shouldn't include her).

 

Likewise, the other 'banner year' for good students at my alma mater (with Comley, Picton, and Craig Semple taking 1,2,3) resulted in none of the top three getting a PhD (again, Semple – my tutor for International Eco – was much more interested in law and is now a partner at… if memory serves… Malice&Sons).

Anyway – not wanting to make excuses for us PhD starters-but-not-finishers… but to be frank if I wanted some analysis done I would prefer it was authored "Longmire/Ulf/Transom/Comley/Semple" (sorry Mark… Picton doesn't make the cut) in preference to "Siouclis/Marshall/Otim (sorry Sam)/Fausten/Greenspan/Bukkake".

Of course this post carries a caveat – if I ever decide to spend a year writing up a dissertation, I will get my PhD with no probs whatsoever… at which time I will switch sides, and pour scorn on anyone who doesn't have one.

But I digress…

 

Betting markets on Bernanke's reconfirmation have slid hard lately… odds have falled from 95% yes to just 75%, and looked weak on Friday. (Falled is a word you would never use in a PhD dissertation).

If I had to place a bracket trade, I would bet that Geithner and Summers go, and Bernanke stays after arm-twisting and cajoling… but Volcker is clearly in the ascendant since the Massachusetts senate election.

The Political System MUST Change

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[Note – this was a Draft in my Drafts folder… it is not unalloyed genius, but it would move us 3/5ths of the way to a more beautiful society if implemented… it was originally penned in 2004 and is presented unexpurgated]

To my way of thinking, the "conservative" ending of "neoconservative" is a malapropism which must be corrected if history is to provide a guide as to the reasons behind destruction that these ideologues are intent on wreaking. The inclusion of the "neo-cons" under the Conservative rubric reinforces the misconception that these vultures have anything to do with the Burkean tradition.

The fact that the overwhelming mass of neo-conservatives are ideological "migrants" from the Far Left should be the first sign. That they have shown no signs of discarding the far-left's demands for widespread upheaval as a means of procuring ideological ends, marks them definitively as anything but conservative. They are marxist-radical in everything but name – and they chose the "neo-conservative" name themselves, in an application of Leo Strauss' "noble lie" approach. If they simply called themselves "radical marxians" they would not get a job – not even in academia.

A Modest Proposal

I have long been an advocate for the complete abolition of political parties (more accurately, the establishment of a system which would effectively kill off political organisation within a country) on precisely this basis – that economic power seeks to influence political decision-making, and does so successfully in a "democratic" political system. And of course it seeks to influence political decision-making in ways that are not aligned with the majority of the electorate. (I say this as an ARDENT supporter of market forces in all goods and input markets).

The system I advocate is a return to the Athenian system of selection of officeholders by sortition (i.e., by lot), whereby government is formed by selecting adults at random from the population and giving them portfolio responsibilities for a period of two years. These officeholders are barred from receiving any side payments, as are their immediate families, for a period of five years after the individual leaves office. One individual is selected as "Head of State" and serves for a period of one year.

The upshot of this is to completely undo the political party system; the "legislature" would effectively become a body made up entirely of independents (and more to the point, of "last term" independents). Lots of gridlock – which limits the amount of damage that political institution can do to the economy.

In my cynical view, parties exist for their own ends, and serve as the rationing mechanism for "candidature". As such, members of the political class are "successful" primarily as a result of displaying service to the party machine, not to the political system (and certainly in no way as a result of their perceived benefit to the electorate). The upshot of this, is that politicians tend to be highly conformist to the ideologies of the major parties rather than advocates of social progress.

It is virtually impossible (under the current system) to win a seat without the backing of a political party. Under my proposed system it is impossible for a political party to determine who holds a seat. It is also impossible for a party to control the behaviour of incumbents (via threats of disendorsement, for example).

So political parties disappear. So does most corruption, since most corruption is performed "efficiently" under the current system, whereby capital buys an entire party by simply buying a share in its leadership structure (through political donations).

 

Furthermore, most political donation is performed in order to fund re-election: under my proposed system there is no amount of spending that could influence the outcome of the next election. The incumbent simply goes back into the raffle machine.

There are several additional benefits to "randomocracy" as I call it. The only argument against it is the high level of "turnover" amongst the leadership (why that is a bad thing is beyond me), plus the (spurious, in my judgement) assertion that those who rise to positions of political power are somehow "specialists" and to ration them out of the system would result in a sub-par outcome.

I believe that randomocracy aligns perfectly with Rawls; if you can guarantee that ON AVERAGE you legislature reflects the values of the median (and average) voter, you're halfway to a better society.

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