"There is a crack in everything, that's how the light gets in"
(Leonard Cohen)
"Ignore all proffered rules and create your own, suitable for what you want to say"
(Michael Moorcock)
"Look for your own. Do not do what someone else could do as well as you. Do not say, do not write what someone else could say, could write as well as you. Care for nothing in yourself but what you feel exists nowhere else. And, out of yourself create, impatiently or patiently, the most irreplaceable of beings."
(Andre Gide)
"I want my place, my own place, my true place in the world, my proper sphere, my thing which Nature intended me to perform when she fashioned me thus awry, and which I have vainly sought all my life-time."
(Nathaniel Hawthorne)
“A book must be the axe for the frozen sea within us.”
(Franz Kafka)
"All mankind is of one author, and is one volume; when one man dies, one chapter is not torn out of the book, but translated into a better language; and every chapter must be so translated"
(John Donne)
“Never attribute to malice that which is adequately explained by stupidity.”
(Robert J. Hanlon)
"Life is beautiful, but the world is hell"
(Harold Pinter)

Thursday, February 02, 2012

Fool's Paradise at Davos

George Osborne: King Fool

EXTRACTConcisely summing up the new fiscal deal in Europe, [Angela] Merkel pronounced that the “debt brakes will be binding and valid forever”; from now on, “never will you be able to change them through a parliamentary majority”. Whoever you vote for, the EU bureaucracy wins. Merkel could not have made the fundamentally anti-democratic nature of the current EU set-up more clear: an elitist project run in the interests of capital at our expense. Not that genuine communists have any illusions in the ‘independent’ bourgeois nation-state: inside or outside the euro zone/SCG, or the EU, capital needs to attack the working class in order to salvage its system. A system that is suffering from chronic dysfunction.
All the evidence is that the banks and other financial institutions are hoarding cash - sitting on the money as the fiscal environment looks more and more dangerous. Perfectly rational, of course, for the viewpoint of the individual capitalist - totally advisable, in fact. But it is totally irrational for the system as a whole. The second great credit crunch remains a very real possibility.

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