Steve Keen on “Engineer Capitalism”

Stacy Summary: A video; and Keiser Report gets mentioned in first of the video links.


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127 Responses to Steve Keen on “Engineer Capitalism”

  1. That’s econbomic illiteracy. Shame, shame, shame!

  2. Richard@lattitude30N

    @Sherbert: Well actually it goes like this…may the sun shine on your face and the wind be at your back to carry you to the stars…otherwise, I haven’t stopped meditating for several decades and it is that hope and constancy that carries me from day one…How goes the potential journey to So America and Kenny Boy????regards to Max…and remember a world wide three city live symulcast satelite uplink of all his guests and some others who haven’t made it yet…that’s the brain power we need..unless he’s too busy in cyberspace and the virtual money he’s been accumulating…HA!!!!

  3. @Youri Carma

    TESLA NUMBER ONE ! Absolutely.

    The strangest and the MOST electrifying scientist the world has known. Without Tesla inventions, no mass media like radio and NO ELECTRICITY. It’s a real shame that people ignore one the greatest genus of the last 2000 years.

    You know why he is not known ? Because he doesn’t have have a german or anglo-saxon sounding name. Yes yes. Good old stinking anglo-saxon and german racism.
    Tesla is indeed a giant.

  4. Less bankers would help. For that you must liquidate the Bank of England and the FED.

  5. the coming pole shift p 1 / 12
    http://www.youtube.com/watch?v=ZE7ELVDkmFk&feature=related

    Interestingly the Interviewer asked this Brent miller “Do the Govt.’s know about this Pole shift”
    And he says yeah most High tech Govt. Know this and thats why they aint Bothered about fixing the Economy cause its all going Booye in the near future
    Thats in Part 4 though
    Hic ;-)

  6. @ Youri Carma

    Yes, I believe you found the correct vid which is “The Missing Secrets of N. Tesla”. Thanks for all the cool videos, very interesting! Good night.

  7. The Missing Secrets of Nikola Tesla [1 of 5] http://www.youtube.com/watch?v=GlYdH3NuL_o

  8. Had almost forgotten about it but the National Geographic had a special about the Bionic Woman http://ngm.nationalgeographic.com/2010/01/bionics/fischman-text

    http://ngm.nationalgeographic.com/2010/01/bionics/thiessen-photography

  9. @ES

    My first contact with Tesla is from high school physics. The Tesla unit http://en.wikipedia.org/wiki/Tesla_%28unit%29 Didn’t know the man behind this back than though and just learned more about him recently.

  10. @Bonn

    Yep, the FEMA Robot http://www.youtube.com/watch?v=NcxX68Ln948

    Robotic hand can feel
    http://www.wimp.com/robotichand/

    Steve Austin – Astronaut. A man barely alive. Gentleman we can rebuild him, we have the technology. We have the capability to make the words first Bionic man. Steve Austin will be that man. Better than he was before. Better, stronger, faster. http://www.youtube.com/watch?v=woOLEEu8RLI

  11. @Youri Carma

    Thank you! Yes, I believe what PBS wrote is true but there is another long video on youtube that describes in more detail what “The Tower Of Dreams” could do and according to this video it also had the capacity to be used as a weapon and I’m pretty sure that Tesla decided that it was too dangerous and didn’t trust any one nation to have the power to destroy another…I will look for the link and give it to you. BTW, I’m a BIG fan of Nikola Tesla (aka Tesla Freak) and am planning to visit the Tesla museum in Belgrade one day. I first learned about him when I studied motorcycle mechanics since a lot of what Tesla invented is still used today in motors and then some.

  12. Nighty night Y’all gotto get into my coffin before daylight. Had enough blood for today http://i268.photobucket.com/albums/jj34/HeavenLeigh123bucket/Funny%20Forum/catpire.jpg

  13. @ Youri Carma
    That Vid with that robot which the guy tries to Kick over Is really impressive and Scary
    These guys are going nuts

  14. @ES

    TnX! Know about Tesla but was planning to take some time to find out more. Tesla – The Tower of Dreams http://www.pbs.org/tesla/ll/ll_todre.html I regard his genius higher than that of Einsteins but was not fully recognized at his time cause he had nobody around him to back him up. It’s very lonely at the top.

  15. @ y’all
    ” I am 100 % convinced that All animals watch the price of Gold ”
    6000 year old SCAM LoooooooooL
    What it at right now 1105
    Hic ;-)
    Roti Kapda Aur Makan Invest
    actually Makan is just fine
    ;-)

  16. @ Youri Carma

    Interesting link…didn’t get to watch it all of it but just wanted to point out that Nikola Tesla invented many of the inventions in the destruction video and then tried to invent a weapon that could destroy all of his own weapons of destruction…there are some fascinating videos about Tesla if you don’t know him. In fact here is a link of a BBC documentary “The Lost Wizard” which explains how JP Morgan invested in the “Power Industry” in the late 1800′s. BTW, if you have a chance to watch this 14 min. documentary, I don’t agree that JP Morgan destroyed Tesla’s Wardencliff invention…I think Tesla knew his Wardencliff invention was dangerous and he had it destroyed on purpose. Here is the link:
    http://www.youtube.com/watch?v=mSBEYs0rjac

    @ Frances Snoot
    I love the way you write and was impressed with what you had to say about Americans while debating with California Doctor…I’m still digesting what you wrote…it’s very complex, sophisticated and powerful which is soooo like a Piesces. Well done!

  17. @frances snoot

    Yep, love the “Angel Hare” Doc, we use to put this stuff in our X-mas tree around the little candle lights to get this magic glowing hallow light effect and eat a lot of self made little peace apple pancakes (Appelflappen in Dutch). http://www.vankempenfruit.nl/html/schaal%20flappen.jpg Don’t mistake it for a donut cause inside each of these delicious is real peace of apple disk.

  18. Everything 2012 Pole Shift (Part 1 of 3)
    http://www.youtube.com/watch?v=5RPM27TuOqk&feature=related
    Hic ;-)
    Planet X hmmm errrr

  19. @Youri:
    Huh?

    Don’t ya think Doc is painting a pretty picture with his words tonight? Look:

    http://home.comcast.net/~DiazStudents/AmericanRevolutionValleyForge1.jpg

    Why don’t we just make those poor hungry cold men some pancakes?

  20. FREQUENCIES OF DESTRUCTION 1 : http://www.youtube.com/watch?v=fxRnkfvO_EU

    FREQUENCIES OF DESTRUCTION 2: http://www.youtube.com/watch?v=QWTWTHunPkk

    Directed Energy. HAARP. Active Denial System. LRAD. Smart Dust. Total Surveillance. Drones. The Global Brain. A Wired Population.

  21. I don’t get tis post by Stacey
    Hic ;-)
    What hmmm errr i dunno

  22. Just saw the show on the msnbc network. “As the banksters grow richer off of 0% interest loans from the fed and bailout money from the taxpayers they are making billions. While the average citizen looses his job and home.

    Catch the show. Its being shown at a network. That is if you still have a home and t.v. to watch it.

  23. @Fred’s Family

    Von Braun also warned about “The last Card” the fake Alien threat to colleague Dr. Carol Rosin http://www.youtube.com/watch?v=z-nheW7faMY

  24. @California Doctor

    U.S. outflows at $13.9 billion in Oct; Treasury buys fall – 15 December 2009 (Reuters) http://tinyurl.com/y95drb8

    Indeed the banksters just pump the money around in there system to skim of fees, bonuses and interest from the taxpayers while pretending saving the day. I mean the FED owns the real estate business and in a way people helped them cause the only look at their house value and (fake) stock prices and keep wining about the inflation risk while we’re in a full deflationary depression. As the FED drains the money this will continue and they will say” Look no inflation” while unemployment will go further up. They will make the system complete by raising the interest rates on mortgages so the money flows in a perfect loop back into their pockets while the housing market is being kept afloat and prices artificially high by taxpayers money. What a Joke.

    Freddie Mac sees rates headed to 6 percent by end of 2010. Treasury to provide as much capital as Fannie, Freddie need. Shadow housing inventory jumped in September to 1.7 mln units from 1.1 mln year earlier. U.S. prime mortgage delinquencies up 20%. Geithner recently extended the bailout program until October 3, 2010. The FED owns $1.102 trill of agency mortgage-backed securities – About 70%! U.S. Government posted a record $1.4 trillion deficit.

    Fed prepared to buy Treasuries – Fed still see gradual recovery in second half 28 Jan 2009 ROFL!!! (MarketWatch) http://tinyurl.com/ye2d3zn

  25. California Doctor

    @Youri – about these sudden announcements from WashDC/ Dept of Treasury and Fed Reserve Bank… on CD’s for the banks…etc.

    These appear to be systems to permit the Fed Reserve to buy TRILLIONS of dollars of US Gov’t long debt.

    After looking at the situation on the US Treasury Bill/Bond yields, I assume that the uptrend over the past month is due to the absence of buyers on the long side and the tilt towards the short.

    My guess is that the Japanese and Chinese are reticent to buy long term US Treasuries, so the US Treasury is selling to the Fed Reserve Banks.

    The major banks are being told to send $$$$TRILLION over the next few weeks into the new CD facilitiy. The central committee of our nation will then “buy” the long-term treasuries in order to “prevent another catastrophe”.

    My guess is that they’re delaying the inevitable and just do not want to accept that neither the citizens of the United States nor the foreign government “investors” are interested in their worthless paper bonds/bills.

    So, the foreign funds have dried up.

    Meanwhile, we US citizens are hung out to dry by the treason occurring at the highest levels of the banking system.

    It might be a good time to leave the country. Since TSA is searching anyone coming into the country and we’re all being treated like prisoners in the US borders anyway, we shouldn’t we revolt.

    The whole pimp now and make us pay up later action is good if you’re on the pimp side, but it sucks if you’re addicted to credit more than crack, need instant gratification to satisfy, and deny the problem.

    On the other hand, if you are a doctor and understand that our future and our lives are in the balance over the next four weeks, you’d break out the scalpels and start excising the cancer immediately.

    This nation needs a financial intravenous fluid to pump up the blood volume. It needs the healing words and touch of faithful people to focus on truth and the importance of focusing upon His eternal truth. It needs an informed and educated electorate to take individual steps to halt the mistakes.

    This is Valley Forge. It is our winter of discontent.

    Either we endure and rise up from it, or the nation will not exist.

    Take your pick my friends.

  26. China Launches World’s Fastest Train That Blows Away Anything We’ll Ever See Here http://tinyurl.com/ycpvm3c

  27. @frances snoot

    What is wrong with this story? Winning a Nobel Price isn’t a Pro anymore as we all know. What is a Pro? Drop Outs! Einstein, Bill Gates, Steve Jobs, Richard Branson …

  28. Just enjoyed “The Long Kiss Goodnight” http://www.imdb.com/title/tt0116908/ Lovely Santa Snow Action Mov

  29. @cal doc , the last years of WVB reveal much about today…

    Wernher Von Braun’s spokesperson said…
    In 1977, I was at a meeting in Fairchild Industries in a conference room called the War Room. In that room were a lot of charts on the walls with enemies, identified enemies. There were other more obscure names, names like Saddam Hussein and Khadafi. But we were talking then about terrorists, the potential terrorists. No one had ever talked about this before but this was the next stage after the Russians against whom we were going to build these space-based weapons. I stood up in this meeting and I said, “Excuse me, why are we talking about these potential enemies against whom we are going to build space-based weapons if, in fact, we know that they are not the enemy at this time?”

    full link: http://www.mayanmajix.com/art742.html

  30. The word as a sign does not ‘hold’ meaning. It is not a mother, a manger, nor a receptacle.

    One does not become ‘anxious’ or ‘neurotic’ if one allows words to function as they be naturally inclined: a transient flow of thought and passion between humans. On the contrary, to provoke a stance of rigidity in word meaning is to develop the neurosis necessary to maintain the fundamental delusion.

  31. Frances to be contained is to be held, the mother holds the infant, she contains the infants anxiety.

    Anyway Frances it’s been nice chattin’, I’m off to bed no doubt I’ll be havin’ words with ye soon enough. Merry Christmas Frances and you SG.

  32. @SG:
    Gee.

    @David:
    I was referring to stone’s inability to contain or retain meaning any better than resonance of voice. The whole ideal of containment is ridiculous.

    Love is preferred always.

  33. Frances, not so sure about changelings (sounds like a 70′s horror flic), in a neurotic, the neurosis thrives on the person being ill, it does not want to get better, it’s hard to think that a part of you flourishes on you being ill, but that’s the way it is.

    As for words and stones, I know that in retelling a story it can have a catharthic affect on one’s psyche. Words evoke emotions, emotions have an organic affect on the brain, once again we are faced with the option, Love.

  34. Follow up on FED JOKE,

    Fed exit strategy: Let banks set up CDs to Drain Liquity 28 December 2009 (AP) http://bit.ly/80nPsQ

  35. David:
    Do you ever wonder if man is a changeling upon this planet? How at odds we are with what benefits!

    And so man writes stories in stone to explain his perversity, and the stories wax perverse in the retelling and their application.

    Stone and words. How little do words adapt to stone.

  36. Frances, yes, of course the shopping mall is natural, it exists in nature. Perhaps its not natural in the sphere of the Gopher, Mink, and Osprey that were displaced in its construction. Nature is not frozen, nor is nature fluffy. I live in Ireland for me nature is wet and windy, extremely wet, and extremely windy, and occassionally very bleedin’ cold.

  37. What animal writes sonnets to the metaphysical nature of a ‘precious’ metal? Words upon words concerning its luster and appeal–and gold derives nothing for its adoration. It is cold, lifeless, and indifferent.

    Yet man denies other man the same glory, assigning onerous task to set more of the dead rock/metal upon his table. Claiming gold is not dust but transcends dust, is not rock but builds empire, is not dead but a living hope.

    Our intelligence is lame.

  38. @David:
    How so?

    we(humans) are part of nature

    We fence nature out and adapt to our own ineptitude. Please explain to me the function of the shopping mall? Is that ‘natural’?

  39. @Frances, we(humans) are part of nature, we are natural,one has to accept that, we are not above it below it, we are it, destruction and all, nature is cruel. Now the question posed should be whether we are able to adapt, well Darwin thinks so.

  40. @David:
    You might like looking at a discussion on the historical aspect of your argument: good outweighs bad:

    http://www.city-data.com/forum/politics-other-controversies/639461-slavery-good-bad-us.html

  41. You can get Keen’s book from Mobipocket E-bookstore
    $10…
    I’m reading the sample chapter right now on my Crackberry (seems to work pretty good with their software… but I can’t zoom the diagrams, perhaps becuz it’s a sample?)

    http://www.mobipocket.com/en/eBooks/eBookDetails.asp?BookID=131405&Origine=4965

    He’s discussing Fractal Theory and error application…
    pretty good shit… it complements Mandelbrot’s book, but is more understandable…

  42. @SG, its all good (except for the killing and the hurting), but yes, I’m inlclined to think, that even though I have suffered at the hands of the Church, the Royals, the banks, that in the bigger picture the good (that these institutions did) outweighs the bad. What I’ve also seen lately that was good was a Gary Numan gig, I had been expecting a rerun of old hits instead I got a good dollop of industrial-techno-punk sounds not bad for an old geezer, kinda reminded me of Fad Gadget. And the night before that I saw Morrisey, a contrary oul fruit, but what a performer, class.

  43. Jeff Sachs, George Akerloff, Ken Rogoff, and Joe Stiglitz

    These men, paid to rewrite capital controls for the benefit of men like George Soros. Oh, but it’s economics: they are only writing happiness for us! We will not need to worry about GDP anymore! The wise ones have us all sewn up!

    If one argues a point, one is become “a cat among the pigeons”.

    So, just forget signing anything. Your agency won’t need a signature anymore. Those big boys KNOW what they are doing, all for YOUR benefit!

  44. @Y’all
    Yeah Y’all… the world is full of mystery!!!
    Ratso meets the residents.
    http://www.youtube.com/watch?v=LeusFuT655k

  45. @David:
    We declare ourselves above nature and yet our nature is below the animals. What animal has destroyed its own habitation in the cause of dominion?

    When we see ourselves as a part of the whole picture, as dust, then our tears make sure the life prolonged.

    Oh, the arrogance of Man! His deeds belie the nature of his words!

    It is enough that we need to destroy animal life to survive? No, man seeks to destroy the meaning of life itself for his fellow beings.

    He calls forth gods to his aide! He desecrates the innocent! He enables the weak-minded to trample the strong!

    Please, argue your point! I’m sure I am sickened of words already.

  46. @david
    seen anything good lately? :)

  47. @Frances, Compassion makes us animal. Humans lack compassion.

    Hmmm really, I mean to say are you sure you’ve thought this one through, was that hyena choking on its tears and not the limbs of that gazelle, I’m not so sure about animals displaying compassion, on the other hand I do think us humans are God’s eyes.

  48. @Cal Dr, while your busy dismissing theory, can I take it that you also dismiss the theory of relativity, gravity, big bang, game, circuit, etc, ad infinitum. All a bit silly really.

  49. @Cal Dr, I disagree humans are irrational, and that is scientifically proven, therefore trying to impose a rational system of economics based on the discipline of engineers is laughable, what got man on the moon and back again was bravado. I imagine poets more capable than scientists at running economies.
    Is it possible to locate the soul scientifically.

  50. Japan unemployment up, deflation grows in November – 24 December 2009 (MarketWatch) http://tinyurl.com/yeymely

  51. ETF assets grew 64 percent to $783 billion at the end of November from $478 billion a year earlier, according to the Investment Company Institute in Washington.

    Goldman Sachs Seeks Federal Clearance for Exchange-Traded Funds 24 December 2009 (Bloomberg) http://tinyurl.com/yds4zrf

  52. California Doctor

    Whenever Mr. Keen wants to give another on-line lecture about how the financiers in New York, London, etc are “full of crap”, I will be happy to tune in.

    The entire math model in United States healthcare assumptions are predicated upon the same bunk – junk econ that these engineers describe.

    I share this appraisal of engineers.

    Engineers are scientifically trained and apply that science to mathematical constructs which model real-world dynamics.

    Economists are the reverse. They are not scientifically trained and apply a pseudo-social theory to irrational constructs which intentionally do not model real-world dynamics.

    Compare the math skills of an engineer and an economist, Alan Greenspan to Werner Von Braun, I’d pick Von Braun’s math over Greenspan’s “exuberance”.

    One did math to land men on the moon and safely return him to the Earth.

    The other did no math and cratered the planet’s economy.

    You decide.

  53. What’s this? Fed proposes new term-deposit facility 28 December 2009 (MarketWatch) http://tinyurl.com/y9kcr5w

    “The Federal Reserve said on Monday it wants to establish a term-deposit facility as an optional way to drain excess cash from the financial system when it decides to step back from the accommodative monetary policy its had in place to address the credit crisis that began more than a year ago.

    The proposal, which it’s accepting public comment on as part of amending the reserve requirements of depository institutions, would allow the U.S. central bank to offer interest-bearing term deposits to eligible institutions through an auction mechanism.”

    How hypocritical can you be? I mean the FED bought $15.0 billion net of agency mortgage-backed securities in latest week. Total $1.102 trill now!!!!!! The completely own the place and Geithner recently extended the bailout program until October 3, 2010!!!! U.S. promises unlimited financial assistance to Fannie Mae, Freddie Mac!!!!

    Drain excess Cash my Ass! My guess is trhat this is a way to sustain the criminal bankers fees and bonuses by acting we are talking about an actual capitalistic system here. What a Joke!

  54. Steve Keen’s patter’s f**king brilliant. Love it.

  55. Mr Keen describes the same thing that LaRouche does and LPAC has a new YouTube video about a viable plan to restore the US economic system. It was uploaded today, here’s the link:

    http://www.youtube.com/watch?v=eJiqFZYCqcg

  56. ==============
    Until someone came along and corrected the author, there was no mention of using SW to reach the US populous. Traditional news media would be useless for many days if not weeks during a crisis like this — so it could be SW or NIL.

    SW Relay Stations that can reach Eastern US
    – Bonaire, RNL
    – Flavoland, RNL
    – Sackville, RCI
    – Radio Havana Cuba, various
    – Radio Jordan, HRS 8/4/1 in desert

    West Coast
    – Radio NZ International, Rangataki
    – Radio Australia, Darwin via lease or Singapore
    ==============

    The Day the Dollar Died saga keeps getting updated…

    http://johngaltfla.com/blog3/category/the-day-the-dollar-died-series/

    “This is Radio Deutsche Welle with a world wide business news update at twelve after midnight UTC. The German Chancellor has announced that following the lead of the Australian Prime Minister, Singapore, Hong Kong, Shanghai Markets and Thailand that the German equity, commodity and bond markets will indeed open for two hours of trading at eleven o’clock in the morning CET. This unprecedented action is to provide an opportunity for equity, bond and commodity traders an attempt to assign price valuations to their holdings in response to the apparent long term freeze in markets in the United Kingdom and United States. The maximum variation in trading prices will be twenty percent to the upside or downside and all holdings from overseas companies not open to trading in their domestic markets will remain frozen until further notice. Commodities and currency trading will be limited to cooperating markets that are not denominated in British Pound Sterling or the United States Dollar.”

  57. Fannie, Freddie exec pay suggests stock worth nothing 28 December 2009 (Market Watch) http://tinyurl.com/ylp33wl

    U.S. may prop up housing further via Fannie, Freddie 28 December 2009 (MarketWatch) http://tinyurl.com/ybsxglt

  58. Glass- Steagall Act Special (Scroll down for more) http://tinyurl.com/y986qae

    Fannie Mae & Freddie Mac Special (Scroll down for more) http://tinyurl.com/ycpel8p

  59. @Phil
    Thanks for that its interesting. Nice software…
    The thing that frightens me the most about all of this is not that we have a group of super talent who puppet master the universe.

    But actually there is no one and nothing other than a broken system and stupid doctrine that a bunch of clowns followed.

    The whole thing going to be like a repeat of the USSR but for west.
    Bit dangerous and very unpredictable. We get glimpses of light and the odd shadowed shape that makes sense for a short period and then were in the dark.

    We have entered a political twilight zone where economic reality is frozen and economic fiction deludes all who stare are it.

  60. Mother Earth is off listening to THE BAND.

  61. @Francis. cool dadio.

  62. MotherEarth:

    Yes. Compassion makes us animal. Humans lack compassion.

  63. Ronron:
    I think she found me quaint.

  64. Was she green? I like green woman..

    Good Lord, ME. Must it always be about YOUR gratification?

    In America, we say “color” because the point is everyone has one. The nice thing is that no one is excluded if one looks at it that way.

    The Moon is waxing up till New Year’s Eve. What’s yur resolution, ME?

  65. @ronron:
    I didn’t slip her fifty, and she did pump the gas. Ronron: currency is based on trust, and we had that. That’s why I said it was her lucky day.

    We still trust each other.

  66. @Mother/Earth. thanks for that, but i’m more of a rick danko type of guy.

  67. I wonder what will make these currency’s whole. gotta be something that lasts forever. I wonder.

  68. @ronron

    Take a bong hit from this s*t http://www.youtube.com/watch?v=i0uDGfrYp1o This is what I hear the moment I see Geithner or Bernanke, it just replace whatever they say..

  69. @Snoot. did you find her quaint.

  70. @Everyone. glad the ma and pa thing is going. it really is good. happy new year to all.

  71. @Snoot

    Was she green? I like green woman..

    But nice story. A society does not exist to make a few rich, it exist to give all a respectable life. And it if does not do that, it is not a decent society, it is a non existent society..

  72. @Snoot. did you let her pump the gas or did you do it and slip her 50 bucks.

  73. Ma and Pa Kettle Do the MATHS (like Bernanke and most economists)

    http://www.youtube.com/watch?v=33lVBz2Jd2U

    It is probably closer to truth…

  74. Had the oddest thing happen. Drive up to the Chevron station. Sitting there and getting ready to pump gas (luckily I have a Prius and it takes a 20 in south Florida to fill her up). A woman approaches wearing a Chevron uniform with a smile. She is young and a woman of color. She says:

    Hello! We are going to give you good service today, I’m your personal attendant.

    Snoot sits. What? AT CHEVRON???

    I say: What, Chevron cares about the customers?

    No, you see I’m hired here only to take care of the customers.

    I’m still sitting, mind you. It’s a beautiful day, in the seventies, southFlorida making up for summer and sceeters. Not actually the day one MINDS pumping gas. But I hand her the twenty and she disappears.

    Was that regular you were wanting?

    Yes. I lean out. Why are you doing this job?

    Well, she says. I have two children and no family. So they were going to fire me, but I told them they couldn’t cause I have two children. So they put me out here.

    Well, I say. It’s a nice day for pumping gas.

    Yes, she says. But it isn’t every day. I work 7:30 to five and I get a half hour for lunch.

    How old are your children?

    Oh, one is seven and one is three months. On Christmas they had-to-come-to-work with me, cause I didn’t have child care. They sat at a table in the back for five hours. I got too much education for some jobs and not enough for others.

    I said, Well it’s your lucky day. You and I are going to have some good come of this.

    So: there she stood with the blue sky and the fluff of clouds like a halo round her hair. And I think: that is my resolution. When times get tough we got-to-make-it happen for each other. Just like Chevron did, this the 28th day of December 2009.

    And the rest of y’all better not wish wicked on America: cause y’all be wishin wicked on that woman that got enough gumption to get a special job pumping gas outside.

  75. @ronron

    1. Farmath
    2. Methamath
    3. Bistromath
    4. Nonlinear string elastomatics (my favorite)

  76. @Ronron

    I sure did sir, I am writing an essay on farm mathematics..

  77. @MotherEarth. so did you watch the clip i suggested.

  78. @ronron

    That would be funny ;-)

  79. @MotherEarth. what if we forget how to laugh.

  80. @ronron

    Lol..Math is the economists meth..

  81. This can be called a watershed.. A species brought back from extincion by cloning of skin tissue..http://tinyurl.com/mordyu

  82. @MotherEarth. that’s cool with me. did you watch ma and pa kettle math on youtube.

  83. I think T/A is useful, but it can’t be relied on solely…
    since it doesn’t factor in the HUMAN element (and NEWS, for that matter)

    But it can be a useful filter to find certain CONDITIONS that aid a trader…
    since several indicators do measure MASS-Psychology on a superficial level…
    Don’t forget that computers are out there trading on these signals as well…
    programmed by lazy assholes making more money per year than a small town does as a whole…

    I like the idea of translating a stock chart into Music… That might actually be a noble effort…
    I’m sure Francis Bacon would approve…

  84. @ronron

    Gold is soo 1971..

  85. The problem I see with T/A (although I DO USE IT) is that it doesn’t factor in the HUMAN aspects such as NEWS…

    It can’t be relied on SOLELY…
    Even Mandelbrot’s analyses using fractal math have yet to come up with a definitive model or equation to “work” the markets…

    So, trying to construct a program to do it for you IS pointless… at best you can construct a filter, but the final decision has to be made by a human…
    to which, a great T/A program I have come across (and free) is called BEST CHARTS at
    http://www.stock-anal.com
    (i know… great name, right?)

  86. @Fibon11235 … some old software of mine.

    Quite a few years ago, I started analysing Upgrades and Downgrades versus the stock price.
    Here is one example ( AMD IIRC )

    http://img85.imageshack.us/img85/8628/amd002.jpg

    The green lines show the upgrades, the red ones the downgrades.

    I’ve just changed to pgm to show just the lines, otherwise it would be too cluttered.

    I tried many stocks and discovered ( LOL, as if I dodn’t already know ) that they are mostly WRONG , i.e. when they say BUY they mean SELL etc. etc.

    There were a few Grading-Agencies that were often right .. but were again wrong on “Other stocks” !!

  87. Bank of america?

  88. @Youri. these two guys must have been isolated on a desert island for about 6 months.

  89. Heard on the Street: Central Banks Next Gold Bugs? 28 December 2009 (MarketWatch) Vid http://tinyurl.com/ybro74x

    As they seek to diversify their foreign-exchange reserves, Asia’s central banks could buy gold. Some have already started. WSJ economics reporter Alex Frangos speaks to the Heard on the Street Asia editor about the potential demand for the yellow metal.

  90. @Fibon11235 …. just a fractal chaos with of without invisible hands at work.

    LOL … Yes !
    I thought about using the stock data to paint a picture or create music to see what comes out . Pretty desperate I suppose …. but sometimes there’s method in madness !

    I repeat, as the “data” that is public is anyway highly suspect, and doesn’t include the “real” data of the dark-pools where the bankers are pulling the ropes, it’s all pretty pointless … or better : simply a rigged casino !

  91. @ Phil I would not bother trying to analyse the stock market stuff it.. just a fractal chaos with of without invisible hands at work.

    What you need to exploit Chaos is a closed system where everything else is known and every eventuality planned for… this can be achieved.
    Sucking eggs I know
    0. Pre defined qualification criteria to enter a trade,
    1. Money Management it your major weapon.
    2. What ever happens your risk is limited, what ever..happens!
    3. In the end you win as the original condition you found on entry repeats and it does not matter how long it takes to return.

    For me the above makes sense and there is know more that can be done. Other than cheat and steal but im not about to lower myself to that of a Banker lol

    I always was a smart ass, when it came to complex info systems lol… anything other than the above then your lucky or a dead loss or on the way lol

  92. @evertbody. watch ma and pa kettle math on you tube.

  93. @ Phil

    Personally I think your correct as usual.lol I would not go near stocks with a barge pole for all these reasons. But then there are commodities and I don’t mind owning them as its better than paper in the bank. Its the wrong format to talk like this anyway and get anywhere.

    Anyway… Happy Xmas to you all…

  94. @Richard@lattitude30N .. Hi , nice to see you back here again !

    @…BTW is the LEVEl 6 WHO pandemic still in effect?

    LOL .. EXACTLY .. no one on MSM dares to mention it again !
    I said the same to my wife about 4 weeks ago … what happended ? LOL !

    @NWResolutions …. to spend more time in the forest I think ! …. and maybe get back to writing some useful software maybe. The only problem is that ANY software is useless without correct data .. and as all the US books are probably cooked and meaningless, it’s hard to even start to think about it !

    The other (software) idea was to see if there is any method to the chaos out .. wrt stocks etc. I guess even that is pointless, unless one is “inside” WallStreet !

  95. @Phil,….RE: I’ve had about 3 “really good” managers in my whole lifetime

    I’ve found Pareto’s law quite accurate in my lifetime so far, hence the failure of “socialist” systems!

  96. I can hardly watch TV any more lol…
    Im not the only one. but,

    I think I would be classed as a hieratic in the past.. Now your labelled a conspiracy theorist. Well on with my foil hat.. I bet there are always nasty labels for those with conclusions that are not of the liking of those that label and propagandise.

    Personally 911 rather dodgy ..
    I was lucky enough to visit them and have a bear at the top a number of years back. I understand building structure and I understand fire, concrete and steel, as a material and structural. I have qualifications in them.. Id rather not say any more.

    Were living in a mad house..how few people actually think for themselves is rather a surprise, but makes me almost arrogant. How strong some will defend there state of mind and world view, like it was a precious baby or something.

    I think we the humans have evolved into a species that believes in anything that makes us feel comfortable. This is a dangerous state to be in and this lack of adapt-ion it may give rise too will be evolutionary tested.

    Think I may buy Steve Keens book….?

  97. @Mother Earth. no gold over there.

  98. M&S and others, did you noticed this?

    Beginning January 1, 2010 Bank of America will no longer participate in the FDIC’s Transaction Account Guarantee Program. Coverage under the FDIC’s basic deposit insurance rules will continue to apply.

    https://www.bankofamerica.com/Control.do?page=corp_bofacom

    Next shoe to drop?

  99. Just got this fiat currency bill, that is now worth more than double of what is was worth when it was valid.. http://tinyurl.com/yzb5v9v

  100. my conclusion. new math, not so good. math is better. got ya.

  101. @Fibon11235 … and the human condition such as politics.

    Yes .. the plight of all good men !

    @ … the one that took my fancy was something called Scale Trading. Do you know of it?

    I developed my own software a few years ago to scan 7000 stocks and wrote all the stats routines for it ( took minutes in APL ).
    After using it for a while, I realized it was pretty pointless, as the movement in stocks has no longer anything to do with T/A or F/A !
    A also created HMTL pages for each trading day, showing the biggest stocks that moved in the last day.
    There were so many that moved 20%-400% , up and down , and after checking a few out as to “why” .. well guess what , everyone was as surprised as I was .. they simply moved, for no apparent reason.
    I gave up using it !

  102. Opinion: Australians are now the biggest borrowers in the world
    http://digitaljournal.com/article/284509

    Brace For Impact: In 2010, Demand For US Fixed Income Has To Increase Elevenfold… Or Else
    http://www.istockanalyst.com/article/viewarticle/articleid/3739425

    Israel Recalls All Ambassadors
    http://www.eutimes.net/2009/12/israel-recalls-all-of-its-ambassadors-worldwide/

    9/11 Hero Dies of Cancer on Christmas Day
    http://www.msnbc.msn.com/id/34596127

  103. Recently posted on a German chat board ( relating to the Banksters ) :
    ( translated )

    Two pigs are chatting.
    Pig#1: I’ve heard that the farmer gives us so much to eat that we get very fat .. so he can slaughter us afterwards
    Pig#2: Oh com’on , that just another one of those crazy conspiracy theories.

  104. Good Book recommendations!!!

    I guess I’ll check out KEEN’s work after I’m done with Taleb…
    (ordered through Inter-Library Loans!!! I wonder how long that’ll take to get to my local library???)

    I like the point Keen made about the mathematics of economics and how engineers are falling over laughing becuz the professor can find the intersection between two lines…

    http://en.wikipedia.org/wiki/Econophysics

    Good luck finding that John Blatt book Dynamic Economic Systems
    I have to go to my local University to find it (they have a copy)
    :D

    Marmite for the Brain !!!

  105. @Richard@lattitude30N – oops . . . I hadn’t thought of any; in fact, I don’t think I have ever had a New Year’s resolution; I will think about it though and then report back with one if I come up with a good one; what are yours . . . ?

  106. Richard@lattitude30N

    @Phil: Simply brilliant Phil…how much longer can the MSM broadcast the overt lies and have a listening public is anyone’s guess..the sheople..what a phrase…yet the masses still pretend the lies are meaningless…the men in the suits have it all under control…in any doomsday scenario it is acceptable if only a few survive….so I guess they have selected their few…BTW is the LEVEl 6 WHO pandemic still in effect? you know the one that mandates sovereign governmets to declare martial law??..I lost track..been cleaning 25 years of debris from a 2 acre lot in NC Florida for the last month…still not nearly complete and with no services ( ie: running water nor electricity or landline phone serveice )…did manage to hear about the latest nutcase shoe bomber….now it appears those fellow citizens in flight will have to remain in their seats for the last hour of flight…oh BTW the last time I flew to NYC it took 2 1/2 hours…that will be a mandatory sitdown for almost half the flight…so Phil what are you New Year Resolutions???
    @Sherbert: What are your New Year Resolutions ??

  107. @ Phil Yep….Its like preaching to the quire lol
    Is that where you were Xerox?…. Im a Software Engineer too along with other types of Science and engineering, use to work with many engineers and Profs. Problem with any from of engineering model is complexity and the human condition such as politics.

    Kind of fun now im hands on doing some real fun engineering.
    New biz. I was looking at Trading Strategies and the one that took my fancy was something called Scale Trading. Do you know of it?

  108. @PatrickEA …. but true !!!!
    ;-)

    @Bonn … tried 80 times to get a job

    LOL … reminds me of a friend I employed in the 80′s.

    He looked like a drop-out druggie but I knew his inner worth, so I employed him for about 3 years.
    Before I closed the Co. for new ventures, I allowed him to take some days off to look for a new job .
    ( He had a degree in Maths, but developed Motherboards, Memory and Ethernet Cards for me )

    He came back into the office one day, totally p*ssed off, and said he’d never go for an interview again !

    This is what he told me :

    The (German) “manager” that interviewed him asked him how much time he would require to design an electronic circuit board.
    My friend said : “ca. 2 weeks”
    … the “manager” laughed at him and said : “You haven’t got a clue” !

    So my friend went back to the Uni to get his Doctorate in Information Technology.
    1) he got “1+” and was offered a “Professor Seat”
    2) he designed the first parallel computer that actually worked
    3) he corrected some problems for Nasa whilst on tour with IBM
    4) he helped design the German Internet Backbone for Deutsche Telekom
    5) Is now working with Ericson in R&D Satellite Telecomms etc.

    BTW, he also designed a very complex Motherboard for me.
    It took him ca. 2 months from start to finish.
    The prototypes worked immediately !

    My own experience of “most” IT managers is pretty much the same .
    Most of them are W*nkers in Suits !
    I’ve had about 3 “really good” managers in my whole lifetime , which is why I prefer to work “independantly”.

  109. This is from Stephanie Pomboy via Alan Abelson of Barron’s. I have hear her several times on Bloomberg Pimm Fox and she know what she is talking about. Runs her own firm Macromavens. Here is the headline:

    Pomboy: A Looming New Credit-bust

    http://www.ritholtz.com/blog/2009/12/pomboy-a-looming-new-credit-bust/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29

    On a side note she doesn’t look much like a boy. In fact she puts Meridith Whittney to shame. An up-and-commer I bet. Here she is:

    http://i734.photobucket.com/albums/ww350/nowido/StephaniePomboyAndElenaArredondo010.jpg

  110. The Middle Class IS being hunted by the finaciers of Wall Street–with the aid and comfort of their corrupt, bought and paid for members of Congress. The crash of 2008 was not an illusion; the taxpayer got ripped off. The value of the dollar IS declining. I am challenging you to dispute these facts. “Petit bourgeois’ my a##. Max says it: people like Bernanke are financial terrorists. These guys are very real and they intend to do harm. Marie Antoinette said, “Let them eat cake.” And we know what happened to her.

  111. Lies that justify screwing over Main Street.

    http://www.alternet.org/media/144776/wall_street's_10_greatest_lies_of_2009?page=entire

    1) The economy has improved.
    2) If you give banks capital, they will lend it out.
    3) Taxpayers are being repaid.
    4) Homeowners are being helped.
    5) Big banks will help small businesses.
    6) The Fed values transparency.
    7) History will not repeat itself.
    8) The pay czar will fight against – pay.
    9) The lobbyists made us do it.
    10) Citigroup is the picture of health and too-big-to-fail is over.

  112. Being a civil engineer, you can’t imagine the number of times I’ve had to beat back the quantity surveyors and accountants who have tried to take over projects at a financial level and make engineers subservient to their wishes. Unfortunately the younger engineers are largely oblivious to this trend and must be educated as to the importance of their own role within the project.

  113. @Phil/Germany
    +10 points AHAHAHAHAHAH…“Office of the Future” … paperless !
    And what did those Idiots in Pinstripes do ?…
    .. continued selling paper copiers until the Co. crashed <

    Classique sir, instant classic.

  114. I am gonna play some poker Bye y’all

  115. @ Phil /Germany
    Da ya know the guy who invented Xerox got rejected 80 odd times for a job untill he landed a job where he had to make written copies of doc’s
    Hic
    :-)

  116. The only one served by this ‘science’ is bankers..

  117. Let’s not pretent there is something out of reach of general understanding. That will simply create a new class of soothsayers. I would say let’s not replace one class of entrancers with another but simply discourage macroeconomics as a passtime of any significance…

  118. Santana Vivek u there ?

  119. Again its the good capitalist / bad capitalist duality of
    ‘Wall street’ film – this ideology appeals to the petit bourgeois,
    who now feels hunted by financiers

  120. It’s interesting that there has been a gigantic but almost invisible shift from the West (mostly the US, Germany and a few other countries) to the East (mostly China, but also India) in software technology. Free/Open Source Software (FOSS) has migrated over the past decade and left the US still almost completely dependent on MS (proprietary) software, which is not only buggy but can be a security nightmare. Not many people are paying attention to this trend, which is especially important longer term because of the strategic implications of the shift. It’s still too early to say what the end result will be, but it’s something to learn about and watch.

  121. “I think engineers have done far more to analyze dynamic systems than economists.”

    Steve Keen is the man. Larry Summers should be his pool boy.

  122. This interview is Music to my Ears .. well done !

    One of the most famous examples is Xerox .

    The Xerox Engineers ( from PARC ), invented :

    # the GUI
    # the Mouse
    # Microprossors
    # Ink Jet technology
    # Ethernet
    etc. etc.

    … and those same chief engineers left the company in frustration to join Apple that saw their ideas as being the future !
    I worked for them until 1982, and left with the same feelings !
    I remember their PR : “Office of the Future” … paperless !
    And what did those Idiots in Pinstripes do ?…
    .. continued selling paper copiers until the Co. crashed !