Friday, July 08, 2011

Mark Sigal's 'The Great Reset' - required Drunky Reading #ITM

Today's required reading comes from Mark Sigal, @netgarden on twitter. It raises the right questions of 'what now' --now that we all have to move on in the wake of three Boomer presidencies, here in the USA. But first, a little refresher about why NO ONE wants to make a business or 'participate' in this mess:

"I remember when I started my first career in real estate back in 1988, and the savings and loan crisis was in full force (it was a much smaller version of our current banking imbroglio).

Then, three things came about in its aftermath:

1. Real structural change.

2. A functioning marketplace for getting rid of non-performing assets.

3. Readily identifiable perpetrators went to jail.

Not this time. Not only did the perpetrators not go to jail or even lose their jobs, but they got raises and got to keep their bonuses. This, even though the "profits" were disproportionately derived from a guaranteed arbitrage gifted by the U.S. government.

Even worse, most would agree that the reforms to the system were largely cosmetic, with the clean up of toxic assets occurring behind the public curtain with even more financial engineering."

(Via The Great Reset: Why tomorrow may not be better than today - O'Reilly Radar.)

I remember the S & L crisis. I even remember many businesses going under because the FDIC came in and broke up the loanees of these toxic banks.

When will the malaise be broken? Refer to history, and to points 1-3 above. Kudos to Mark for writing this.

Drunky out.

PS. We'll talk about flooding the US STEM market with H1B cheap slaves, 'StartUp VISA' charlatans, and 'Dream Act' conscripts for our 'armed forces' later. Honest Injun.

America's Vanishing science jobs - Josh Bloom (

In case you were wondering why I follow H1B 'Immigrant' shills like my little sahib Wadhwa as well as NASSCOM Don Tennant so closely... here's your answer: The decay of American STEM jobs:

"The folks at Scientific American have launched "1,000 Scientists in 1,000 Days" -- a program to bring together scientists, teachers and students to improve America's "dismal" showing among wealthy countries (27th out of 29) in graduating college students with degrees in science or engineering. I'm sure they mean well -- but, at least as it applies to the field of chemistry, "1,000 Unemployed Scientists Living With Their Parents at Age 35 While Working at the Gap" would be a better name.

After earning my PhD, in chemistry, I worked in drug-discovery research for more than 20 years. Aside from being a fascinating profession, it was pretty secure -- until the last decade. Then it became anything but."

(Via [Vanishing science jobs--Josh Bloom -

Josh Bloom's experience on his side of STEM hits REALLY close to home. It pretty much played out the same with MOST of the tech companies in the 90s and 00s.. except for Google and Apple. Now you know why Windows, and most tech inherently sucks. It's the Microsoft model of outsourcing, offshoring, mergers and acquisitions. Mostly due to the 'vision' of Mr. MBA Ballmer.

It's one thing when your cheapy computer crashes. What about your parents, given the "quality" of offshore-researched drugs? America, land of the cheap, reap what you sow, Boomers, yada yada, right?

And what about these out of work STEM folks? As Josh asserts, why aren't they teaching our kids?

"So, what's my solution? Well, Scientific American could tap 1,000 scientists from the pool of the unemployed and bring them into schools. When the kids keep getting the same answer to the question "Where do you work?" they'll figure it out.

We don't need more scientists -- not unless there are jobs for them."

(Via [Vanishing science jobs--Josh Bloom -

I wonder if Vivek Wadhwa can sleep at night, faced with the glaring reality of what STEM in the USA has become, instead of whining about "innovation", tech bubbles & 'startup visas.'

We do not need Fraudy's concept of 'innovation'... unless we'd like to 'innovate' ourselves into the ground. Nor do we need more 'immigrants' who will be discarded as expediently as the locals have before them.

Drunky out.

Boomster Watch- Hillary Clinton Admits the U.S. Government Created al-Qaeda [video]

Believe it or not, you can get news from Fox. Sometimes, when van Susteren meanders off script. Now listen as Grandma Helmethead of the State Department breaks it all down about how we armed the Mudjahadeen:

(Via Planetseeder - Hillary Clinton Admits the U.S. Government Created al-Qaeda.)

Of course, anyone who has been paying attention or who has seen 'The Power of Nightmares' knows that yesterday's Mudjahadeen ('freedom fighters') are today's Taliban & tomorrow's 'Al-CIA-da'.

We Americans are a fearful stupid bunch. The monsters we create today will afflict the world tomorrow. I'm looking at you, globalization shills. No names. This time.

Personally I like Greta.. she's kinda like Nancy Grace, .. if Nancy Grace had a soul and wasn't a shrill droid.

Drunky out.

Boomster Watch- A Hurricane of Debt, Deficit and Demographics is Coming! (

I suppose a whole buttload of GenX'ers and younger will be moving to Canadia after reading this:

"A hurricane of debt, deficit, and demographics is heading to the shores of all developed economies. With it will come high inflation rates, high costs for credit, low growth rates, and weakening developed country currency value. Ben Bernanke in a helicopter will not stop the hurricane’s devastating path. More stimulus packages will not stop it. Blaming the Chinese for lending us too much money will not stop it. Pretending that the storm isn’t coming will most assuredly not stop it.  It threatens to derail the lukewarm economic recovery and to alter forever the heretofore path of robust growth for the developed world. In a sense, debt, deficit, and demographics will reset the world to a “New Normal”. "

(Via Batten Down the Hatches: A Hurricane of Debt, Deficit and Demographics is Coming! :

If you thought the beginning was bad, try the ending:

As the country prepares for retiring Boomers (and the debt and deficits associated with them), it will also need to prepare for changing demographics—specifically, the adverse effects driven by the dramatic decline in the support ratio associated with an aging population. It is projected that the support ratio in developed countries will decline from 3.5 working age adults per retiree to below 2:1 by 2050. In comparison, in 1970, the support ratio was 5.3:1. By 2025, at the height of Boomer retirement cycle in the United States, there will be 10 new retirees for each new entrant into the workforce. Not only does the future appear unenviably poor in aggregate, it also appears predictably unproductive.

(Via Batten Down the Hatches: A Hurricane of Debt, Deficit and Demographics is Coming! :

Of course, none of this will end until the Boomers die alone, in the dark, in between H1B-slave enabled diaper changes. It's what they deserve for shredding the Constitution and getting us into 5 wars on abstraction and counting.

Oh Canadia...

Drunky out.