'Ajami': The Dark Ages

Excellent summary of what’s happening in the Maghreb, and analogy to ‘LA wildfire’ or wildfires in general. As in a wildfire, there’s not much fire departments can do. They’ll make a brave show of it, but their biggest partner in ultimate success is either concrete or a squall. Summary excludes the firebrands. We are looking forward and wondering how the chaos will end. Speculation in the middle going forward is never helpful. It’s like crossing a busy street with one’s eyes closed.

The same thing happened (and is still happening to some extent) with regard to our own housing meltdown. Our chronicle of same invariably starts in the middle, with the banks. Mention of the government’s role still lies buried in the bin of unmentionables (unless it’s Bush, of course).

Who stands to benefit from the chaos in the Maghreb and elsewhere? Who started it? Answer those questions and you arrive at the solution to the riddle of how it is likely to end. Who is the most organized; the most brutal? If the timeline going forward is predictable, the start and finish of the thing is apt to involve the same player(s).

For those who still believe that nothing has essentially changed; that things will return to some semblance of stability; that the next U.S. president will restore us to our former selves, take heed. Events, both here and abroad, are not unrelated or reversible. Houses burnt in a wildfire remain burnt. Rebuilding is arduous and there remains the question of whether homeowners would even retain an appetite for risking going through the whole thing again. Many will, of course. But many others will decide to relocate, leaving a scar of abandonment on the land.

Saw “Ajami” (2009), a film by Scandar Copti (a Christian Israeli Arab) and Yaron Shani. Critics compare this film to ‘Boyz N the Hood’ (LA), ‘The Wire’ (Baltimore) of ‘City of God’ (Rio de Janeiro). I’ve only seen the latter. All are said to be about gangs and gang justice. “Ajami“ happens to be set on the outskirts of an Arab ghetto in the Israeli city of Jaffa.

“Ajami” is not a great film, but certainly better than average. What jumped out at me was that it represented what many fear will be the “new world order” in which there still are people, money, and crime. Whereas in our system, the value of money is based on work, talent and the ability to innovate, in the “new world order” money will be based on protection. It will be a violent world and not one in which most of us can easily compete. It is the world of brutality, domination, oppression and ever changing players. This does not bode well for the individual, for human rights, dignity, and progress. The Dark Ages come immediately to mind - and, once initiated, it can last for a very long time.

http://pkoelliker.blogspot.com/

We've Dug Deep Enough

Interesting architecture to the spin coming out of the Middle East (as the region burns). At first, it was Tunisia. Then Tunisia was faulted for what happened in Egypt; then, Tunisia was all but forgotten and Egypt became the fault for what’s happening in Bahrain; and so it goes on and on: the incident previous to the last one is conveniently forgotten with the aim of burying the source of the agitation. It’s very much like our housing collapse was explained to us.

Also, Israel is hardly ever mentioned; neither is Islam. POTUS is said to be unaware and unprepared. There’s no indication that he even knows that the 5th Fleet is anchored in Bahrain - or cares.

How can he not care? How can he not know? Ask such questions and you soon stumble upon the source of it all. He knows full well. He cares a lot - but not in the way we care. Despite all those exotic names that Americans can no longer pronounce or locate on a map, the real target in all this is the U.S. and, of course, Israel.

The script was hatched in the White House and it’s global in nature. It involves everything from Pakistan to Arizona and now Wisconsin. The plan is still unfolding, perfectly coordinated. There are no surprises for those in the know.

Look all that’s happened in the past two years since Barack Hussein Obama has been in office: the economy tanking; our foreign policy in disarray; people out in the streets protesting; our states insolvent; immigration out of control; our system of governance unresponsive to the public’s demands; jobs vanishing; oil and food prices spiking; etc. I suppose we can always blame it on Bush - or George Washington.

The ride to hell is infinite. We’ve already blown by any number of major milestones. (The passage of Obamacare was one. So was the sinking of the Cheonan.) We’ve been told to ignore all that. Who among us, looking at all this wreckage, can say we’ve turned the corner? Who can honestly say things are improving; that America is scoring points? Every day we’re treated to a new and ominous reality. Every day we dig ourselves deeper. Enough with the shovel-ready jobs already! We’ve dug deep enough.

It is an accident of destiny? I maintain it’s not. And we’d better start calling a spade a spade.

http://pkoelliker.blogspot.com/

The Good Samaritan

Political? No question. "Punish winners on the downside?" Most definitely. But why split hairs? Punish winners, period. By then, the whole mortgage market had been polluted. Pretty paper printed, with no value behind it. All those freebee mortgages simply were never going to get paid. They should have been trashed and written off as welfare expense immediately.

Instead, all those young geniuses from university economics departments were recruited to obfuscate the fact; to design paper, in effect; with the intent of prolonging the fiction that these securities held any semblance of value. All the while, everyone was fully aware that 'value' was the only essential ingredient that was missing. They then proceeded to contrive a path so complex, no one could trace it back precisely - certainly not to the government's meddling in the system that had effectively sucked all the value out of the mortgage market in the first place.

Once the ploy had been exposed - when investors demanded their money - the system collapsed. Now the race is on to assign blame. The effort to maintain the fiction of ‘valuable’ securities no longer wins applause. These (securities) were then labeled 'toxic' [a misnomer - nothing toxic about them; 'toxic' implies they were imbued with some secret (value) ingredient when, in fact, they were simply ‘valueless’ as they had always been and would always be].

A similar fate can be expected to befall the dollar as the national debt rises so high that no amount of taxes – even generations out - can suffice to offset it. Reminds of the mob that, after having stripped the victim (value) of his valuables, fits him with cement shoes and pushes him off the bridge. The Good Samaritan sees what's happening, jumps in the water and tries to save the victim - but fails. The Good Samaritan is blamed for the victim’s demise - while the mob continues to operate as before.