THE PANIC OF 1873 2008!

1/21/2008

Elaine Meinel Supkis

The past is the present. Reading the 140 year old articles about the Panic of 1873 reminds us that this ushered in the Gilded Age but also the Long Depression. Due to increasing interdependencies via free trade as well as unbalanced trade due to over lending in the West and over savings in the East, we have a classic crash. Unlike the Dot Com crash which was simple bubble mania, this is a systematic crash due to the system itself being fundamentally out of whack, out of order and out of capacity to absorb more debts. Today's massive global crash is a classic and we must keep looking to the past to understand the present.

'We are being killed, we are starving'

Gaza City: The largest Palestinian city awoke on Monday to shuttered bakeries and gas stations, prompting warnings of a humanitarian crisis, after Israel sealed Gaza and cut off fuel supplies in response to a spike in Palestinian rocket fire.

Israeli Prime Minister Ehud Olmert said Gaza's residents can "walk, without gas for their cars," suggesting that he won't lift the chokehold any time soon, despite warnings by international organisations that they may suspend food distribution by the week's end.

Israel and Gaza's Hamas government were locked in a public relations battle over the depth of the hardship.

An angry Hamas TV announcer shouted that "we are being killed, we are starving!" and Palestinian leaders issued emotional pleas for national unity, while Israel accused Hamas of fabricating a crisis to gain world sympathy.

Egyptian President Hosni Mubarak called Israel's defence minister to press for easing the blockade on Gaza, Israeli and Egyptian officials said.

We must not forget that whatever battles the IDF has with Hamas, the battle plan has been to starve the Palestinians to death. This is being ignored by many people even as the entire economic system of the world is falling off a cliff. There is a connection here which I keep bringing up. The US wants the whole world to feed and clothe us, to give us oil and gold while we give back a mountain of IOUs. The game plan of bin Laden has been to bankrupt the US by goading us into wars we can't win and to force us to talk about Palestine even as we conspire to destroy that people.

Tonight, the US is about to go into a classic panic, a crisis brought upon us by our own actions. The focus on fixing America has been focused like a laser on stealing land from the Palestinian people and turning them either into refugees or slaves. Or best of all, killing them all off once and forever. The winds of war roar in our ears as Israel and the US bellow about Iran. This has driven up the price of oil to record heights. This, in turn, fueled inflation which has destabilized all currencies and sapped economic power from non-oil producers moving it to oil pumping nations. Since the price of oil has shot up, the flow of money has changed significantly.

In the Dot Com collapse, the price of oil was not even $20 a barrel. When the West joined Japan in dropping interest rates to 1% or less after the bubble popped, bin Laden's audacious attack on the US caused all the world's biggest bankers to keep super-low rates even as the increasing wars launched against select oil pumping nations took off. The price of oil began its relentless climb as wars raged out of control. Now we see even more, worse wars on the horizon. The rage rising in the hearts and minds of the great masses in the Muslim world, watching this replay of the Warsaw Ghetto, is unimaginable. But silent.

The rulers have kept a lid on this but if the world's financial systems collapse, this is just one of many very vicious forces that will suddenly be unleashed upon us. I wish to god, this wasn't happening. It is so easy to avoid. But instead of unity and common cause, we actually have a world war brewing and this terrible destruction of barely armed natives, the deaths being dealt by a military overlord ethnic group seeking to steal the last rags, huts and standing olive trees of this miserable people, backed by the world's mightiest empire, the world's greatest nuclear power, the world's 'richest' nation: the USA.

Instead of moving in and saving these people, we are the agents of their misery. And now we will be begging the world to save us from the economic destruction we, ourselves, created over the last 35 years. Reckless spending coupled with lust for consumption and a desire to have our cake while starving the world, we will reap the mighty storm of hatred we have sown.

I wish to show a series of headlines from tonight. Tomorrow will be worse. We are in a panic and we are starving the Palestinians to death so Jews can live in Jerusalem and New York City as dual citizens.

************************************************************

Back in time, in 1873, a very singular man published an important work, the opening shot in the war of nihilism which engulfed European intellectuals during the Long Depression.

On Truth and Lies in a Nonmoral Sense (1873)
By Friedrich Nietzsche

Once upon a time, in some out of the way corner of that universe which is dispersed into numberless twinkling solar systems, there was a star upon which clever beasts invented knowing. That was the most arrogant and mendacious minute of "world history," but nevertheless, it was only a minute. After nature had drawn a few breaths, the star cooled and congealed, and the clever beasts had to die. One might invent such a fable, and yet he still would not have adequately illustrated how miserable, how shadowy and transient, how aimless and arbitrary the human intellect looks within nature. There were eternities during which it did not exist.

And when it is all over with the human intellect, nothing will have happened. For this intellect has no additional mission which would lead it beyond human life. Rather, it is human, and only its possessor and begetter takes it so solemnly-as though the world's axis turned within it. But if we could communicate with the gnat, we would learn that he likewise flies through the air with the same solemnity, that he feels the flying center of the universe within himself. There is nothing so reprehensible and unimportant in nature that it would not immediately swell up like a balloon at the slightest puff of this power of knowing. And just as every porter wants to have an admirer, so even the proudest of men, the philosopher, supposes that he sees on all sides the eyes of the universe telescopically focused upon his action and thought.

It is remarkable that this was brought about by the intellect, which was certainly allotted to these most unfortunate, delicate, and ephemeral beings merely as a device for detaining them a minute within existence.For without this addition they would have every reason to flee this existence as quickly as Lessing's son. The pride connected with knowing and sensing lies like a blinding fog over the eyes and senses of men, thus deceiving them concerning the value of existence. For this pride contains within itself the most flattering estimation of the value of knowing. Deception is the most general effect of such pride, but even its most particular effects contain within themselves something of the same deceitful character.

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Comments

[Bokonon]

Don't worry, Jim Cramer has a plan.
1)Cut interest rates.
2)Bail out Wall Street.

http://video.msn.com/video.aspx?mkt=en-US&brand=money&vid=b21c9c31-cefe-4761-8ebd-6db136f36562

[Bokonon]

sorry, very long link, try

http://video.msn.com/video.aspx?mkt=en-US&brand=money&vid
=b21c9c31-cefe-4761-8ebd-6db136f36562

[Bokonon]

Now I feel really foolish , simple link to Cramers plan
http://www.cnbc.com/id/22728371/

My most humble apologies to all and sundry.

[CK]

I have watched Mr. Cramer exactly once. The night he interviewed Ron Paul.
Watched the complete show.
Question: Why is anyone interested in what he has to say? What is his value added?
How is his prescription any different from Hillary's spend spend print print war with iran war with iran babble?

[Michael]

Bokonon: tinyurl is your friend ;-) www.tinyurl.com

[Al]

Elaine, keep on posting about what the Jews/Zionists are doing in Palestine. You're one of the few who stand up. Que Dios te bendiga.

[pulse]

Al

may i kindly suggest that resolution of a problem first requires recognition of it.

for instance, one might examine American, Canadian and 'Western' support of the manufactured state. Perhaps these enablers should bear the responsibility of truth ommision and denial and withdraw their meddling to allow peace to evolve in the disputed territory?

naaah. how would we provide weapons to the middle eastern Dictators if peace started to break out?

the enemy is often within.

[Al]

Pulse,you are absolutely right and I agree with you. The Western governments have abetted and supported the crimes against Palestinians since Israels' inception. And much of the support of this comes from entities with diametrically opposing views.

[Jim Smith]

The financial world is collapsing around us. Who knows what disruption will follow to the lives of virtually all humankind? Are we saying this is all an outflow from the Palestinian/Israel issue?

[Elaine Supkis]

In the Other Realm, yes.

I saw it all many years ago when I wandered inside the maze of the time loops of the Outer Darkness. This is where opposites are smashed together and the past and future are one and the same and up is down and in is out and cold is hot.

It is a horrible place but one can see clearly the curvature of history and how things move in this massive stream of time.

It broke my heart, seeing this and knowing I can't stop any of it.

This is also connected to the magic of money and death. I am not joking when I discuss money and magic and the Outer Darkness. Demonic creatures have ENDLESS wealth and guess what?

They use it as a trap! Bait! They use it to destroy, not create. We can create with it only if we have a heart and do this with love. The minute we are greedy, we are destroyed by this force.

This is why I talk about Safety and how she is better than Risky and Risky will kill us, she is the teenage daughter of Death. Gads. I should write a fairy tale about all this.

[cognitis]

The writer describes the current stock market collapse with phrases "... if the world's financial systems collapse..." and "... save us from the economic destruction...", and she describes the current oppression of an ethnic minority with phrases "...killing them all off once and forever." and "...we actually have a world war brewing..."; in all phrases the writer uses words denoting not only deterioration but the end. In closing the writer cites a passage describing Man's existence as temporary and meaningless. Cheer up! Don't sell despair: I've the Zionist media and politicians for that.

[Elaine Supkis]

Ah, I am just showing how Zeitgeist works. We are trapped in the same machine that trapped people in the 19th century. Little has really changed, you know. Except for one major thing: Europe and America are declining and Asia is rising.

So be cheerful about that. The Wheel of history turns ever more!

[Pluto]

Jim Smith writes:

The financial world is collapsing around us. Who knows what disruption will follow to the lives of virtually all humankind? Are we saying this is all an outflow from the Palestinian/Israel issue?

As I look back over a 50 year history of global commodity investing -- I cannot find one sucessful investor who didn't have this card on the top of their deck.

Is this suddenly "new information?" (And if so, thank god. I can make a killing if no one else knows.)

[Chris]

Heh, Karma is a bitch they say.

In 1839 a distressed Chinese official, Lin Zexu, protesting the Opium trade wrote to Queen Victoria "We ask you: Where is your conscience?"

In 1900 US troops marched through the Forbidden City.

Do you think the Chinese have forgotten?

[CEO Nutcracker]

Here's some more cheer, 12/21/2012. The end of the Mayan Calendar, and date many ancient oracles predicted the world is to shift from north pole to south in a matter of days. Some planetary alignments will occur that scientist say happens every 25,000 years or so. The years leading to this event are described as quite hellish.

So, we may not have to worry about the economy afterall.

[Elaine Supkis]

That is an interesting day but won't be a day of doom unless humans deliberately use it. Which we easily can do! Alas. People are always tempted by the Fates.

[beats by dr dre]

Having begun in one line, resolve to fight it out on that line, to lead in it, adopt every improvement, have the best machinery, and know the most about it.

[Canada Goose Danmark]

To believe otherwise is to take on a point of view that is likely to be deranging.

[Christian Louboutin shoes]

The 50-percent theory even helps me see hope beyond my Royals’ recent slump, a field of struggling rookies sown so that some year soon we can reap an October harvest.

[Beats by Dr Dre]

I love waking up in the morning and not knowing what’s going to happen, or who I’m going to meet, where I’m going to wind up.