Where’s Me Gold?

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Where’s Me Gold?

Being mired in poverty myself, I can't pretend like some people to have an answer for the world's economic woes, except possibly: create value, contemplate inherent beauty, and learn to distinguish vrai from faux [true from false] in any language.

The best I can do is latch onto an expert's analysis, Naomi Klein's, whose book "The Shock Doctrine: The Rise of Disaster Capitalism" just won the inaugural £50,000 Warwick* prize for the best complexity. The "shock doctrine" is Klein's term for economist Milton Friedman's world-altering insight that since people in trouble grasp at straws, world-class moneygrubbers should have plenty of prefab straws up their sleeve, the better to vampirize the resources of people temporarily too shocked'n'awed to put up a fight.

The shock doctrine is shocking but makes sense of recent globalized corruption from Iraq to New Orleans. Filling in her overarching thesis with on-the-ground journalistic accounts of disasters worldwide, La Klein is calm, concise, Canadian, passionate and persuasive. And so girly. See for yourself. (The NYT article she references in the video below makes you want to scream, "Why didn't the NYT go after Greenspan before it was too crashing late?)

Naomi Klein-in-heels takes down Ole Man Greenspan in absentia.

Saturday Night Live, which has slid repulsively into macho sex jokes now that Tina Fey and Amy Poehler are no longer there dominating, had an inspired take on the nation's frustration with BHO's failure to top the morons still screwing with the economy even though they're totally outnumbered in Congress and the country, nay, the world is sick of 'em.

Referencing the Hulk's ability to self-transform from mild-mannered wuss to raging green giant, SNL left out the green part, too leprechauny mayhaps but so apt environmentally. They stuck with the testerone-driven penile-enhancement part: Fred Armisen's limp Obama morphs into Duane "The Rock" Johnson's tumescence.

BHO gets in touch with his anger: defenestration ensues.

Speaking of green things and arousal and the dangers of idle hands on internet-accessible keyboards, Joan Kelly's blog cited the bygone cultural buzzphrase "Where's me gold?" and before you could say "unrequited internet crush" I was watching Leprechaun (1993) in 10-minute segments on youtube.

Well, first I found the Trenchcoat Club's witty rap on the Leprechaun film franchise, but nothing motivates watching the intensely talented British dwarf Warwick Davis or even pre-Friends Jennifer Aniston like the hope of cramming the reference into my blog... and pinging Joan Kelly.

The once-and-future pro submissive was blogging about repetition compulsion, something she knows something about and which is the neurosis du jour behind the faith-that-refuses-to-be-shaken in Wall Street financiers or the ruling class or throwing good money after bad:

...the most egregious repetitive use of a cheesy tactic that didn’t work in the first place since Leprechaun’s (the first one) “Where’s me gold!” catch phrase in the early 90’s.

Hollywood's homicidal Leprechaun going after his stolen gold might inspire taxpayers sick of watching their wealth transferred without a fight to the uncontrite moneymeisters responsible for capitalism's assisted suicide. Bite 'em on the leg! Slash 'em! Wear green'n'white striped hose and green velvet tailcoats! Note: the film made its money back nine to one. Other note: Jennifer's face-à-face with the Lep at 4:15.

Jennifer Aniston takes charge in mini-shorts'n'shotgun.

*No relation to the guy who plays the Lep.

Comments [88]

Tex's picture

LOL! You know, it's funny you

LOL! You know, it's funny you mentioned it being from France. I actually looked for an American group to post, and didn't find one as fitting as this French group (all women, cowboy hats, bandanas, boots, jeans)....how ironic is all of that? Irish line dance by a French group dressed like Texans!

Twitter Time @kdhales

yonks's picture

Yea, the thing is that all

Yea, the thing is that all that investment require interests and the human activity isn't enough to feed this colossal amount of investment .

I think marx predicte some were that this would happen, i will dig but i have to go work heee i'm late

By every body

-Do not follow me, I'M LOST-

Erin Blackwell's picture

if we're so smart, why aren't

if we're so smart, why aren't we criminals?

Erin Blackwell's picture

i've heard there are fun

i've heard there are fun things to do in cabins.

Tex's picture

All you have to do is remind

All you have to do is remind me....

Twitter Time @kdhales

yonks's picture

Yea, and they were planning

Yea, and they were planning how to get more money on pretending to fix the mess

-Do not follow me, I'M LOST-

Erin Blackwell's picture

Ponzi scheme: you pay first

Ponzi scheme: you pay first investors "interest" with latest investors' money but no investments are made. Bernie Madoff = biggest ponzi ever.


Tex's picture

Excuse for the jump in - they

Excuse for the jump in - they saw through it - they were all too busy making money off it! watch out - I'm in an economic pisser of a mood today - and getting cabin fever 'cause it's too cold to work or play outside!

Twitter Time @kdhales

yonks's picture

"naomi klein is cuter than

"naomi klein is cuter than naom chomsky, that says it all!"
My first big crush in high school was a chilean girl who make anticapitalism sound sooo sexy.

Whats a ponzi?

-Do not follow me, I'M LOST-

Erin Blackwell's picture

naomi klein is cuter than

naomi klein is cuter than naom chomsky, that says it all!

love your metaphor for capitalism. michael hudson recently called it a ponzi scheme. i guess now it's over, everyone sees through it. why didn't they see through it before?

Erin Blackwell's picture

excuse me, yonks, but

excuse me, yonks, but BriTwit, watch the movie! it's a great use of the Creepy Lep motif & the guy who plays him is great.

oh and yes St P's Day is huge, due to large immigrant-now-native irish communities.

Erin Blackwell's picture

oh so maybe what we need is

oh so maybe what we need is separation of fed'n'state?

Erin Blackwell's picture

texy thanks for the line

thanks for the line dance. i see it's in FRANCE. i once watched a civic-minded French square-dancing demo in a public square beside some great cathedral. one never recovers from those sorts of sights.

yonks's picture

Yes, NK is really

Yes, NK is really interesting, and more pleasant to look than N Chomsky... http://www.youtube.com/watch?v=5Kf3ePWXEpg&feature=related

There is a metaphore on capitalism, childish but funny.

its a country with some peoples own a water tank. Others peoples are thirsty, they ask for water and the capitalist reply: we can't give you water like this but if you help us to find new sources, to get more water, we will give you some. For each liter that you bring, we will pay you 1$, for each liter that you drank you pay us 2$
but then, the tank was full fill and the capitalists said to the peoples to stop bringing water and proposes to get debts to empty the tank so they can keep drinking water and hope full that empty the tank will get them back in to work.
But in the same time, capitalists go to another country were they can pay 50c for liter.
Well, i spare you the detail but at the end, peoples die from thirst, full of debts and the tank remain full.

-Do not follow me, I'M LOST-

yonks's picture

I think Leprechauns get in to

I think Leprechauns get in to the creepy side when christianity over come hold europeans religion.

-Do not follow me, I'M LOST-

Steph's picture

Well just promise me that

Well just promise me that you'll imbibe warm flat beer and eat yorkshire pudding on April 23rd, which is St George's day!

Steph's picture

Thanks LB - I hadn't realised

Thanks LB - I hadn't realised that it was such a big thing over there, to be sure to be sure.

(Is it just me or are leprechauns a bit on the creepy side?)

beauty's picture

that was not very deferential

that was not very deferential of me but i'm hoping to goad you out of your seclusion. i'm sorry that you feel that i've deterred other bloggers from commenting and i'm sorry that i called you a bully when you hurt my feelings by saying you wanted me gone bcs i know deep down that you are not a bully at all but a very soulful and sensitive person. i am going to try to restrain my fingers from commenting for awhile...well maybe an hour or two..and find other activities to fill my time like basket weaving. hopefully you will come out and play in my absence.

beauty's picture

WOW!!!! I just now read the

WOW!!!! I just now read the NYT article. That's amazing and pathetic. The greed of these lenders is coming back to bite them in the ass and finally some consumers will benefit from the feeding frenzy (perhaps to the tune of $100k+!!).

itty's picture

LongBeach.... about that

about that leprechaun suit....
I'm kinda' diggin' on that.
Laughing out loud

LongBeachDogLover's picture

Thanks for reminding me

Thanks for reminding me Lezbeth.......

I need to hang my St. Patty's Day flag outside, and look for that sequined leprechaun suit...... I know I had it somewhere. Hummmm.....

beauty's picture

hey, e, I thought you didn't

hey, e, I thought you didn't know what "latch" meant.
its underpinnings create the ice cream that's in the truck carrying WMD bomb pops that xvp (dick cheney) was driving evasively around in the desert to maximize halliburton's profits. xvp was dressed as an islamic woman in a burqa. it was a sad moment for the republican party. I took your advice and showed the videotape at the last RNC presidential training conference as an example of stuff not to do. sarah palin asked what size burqa she should get.


tumescence: readiness for sexual activity marked especially by vascular congestion of the sex organs? yuck. where do you find this stuff? or how come you know it?


oh yeah, exit stage right.

love ya, xx vp

btw: do you wanna defenestrate me now.

beauty's picture

Love the icon!!! So you read

Love the icon!!! So you read stuff then you get down then boogie oogie oogie? hmmm that's kinda catchy.

How do you guys do all that techno stuff? I can't even "embed" a picture let alone a dancing banana(?) or a youtube video. This is the extent of my techie skills: Wink , oh and then there's Smile
pretty cool, huh?

Lezbeth's picture

Hmmm...nope, couldn't be. I

Hmmm...nope, couldn't be. I don't drink. I just read stuff and when it gets me down, I dance....

Joan Kelly's picture

I love when you ping me! No

I love when you ping me! No kidding. And I can't even tell you how much it made me fan myself that you actually went and watched Leprechaun because of my referencing it. That's what you call wooing a person over the world wide web.

beauty's picture

are you my friend's

are you my friend's girlfriend?

minniesota's picture

I think the economy needs a

I think the economy needs a four-leaf clover.

Still searching for the right brainy quote.

Lezbeth's picture

The economist is right, but

The economist is right, but it's kind of worse than the upside down mortgage thing. It's an upside down mortgage times 40 at the very least. The big investment banks leveraged the value of their loans at the rate of between 40 and 100 to one, bundled the value of that with other leveraged mortgages and sold the bundle to investors (many were other investment banks) as AAA rated securities (as in highly rated bonds with yields higher than government bonds--the fed again--were bringing in). This means that every 100,000 mortgage turned into at least 4 million in bonds that were sold. The proceeds swelled the banks' balance sheets, giving them another minimum of 4 million that they could then lend out for more home purchases, exponentially feeding the cycle for collapse.

Here's the good news about that. It seems, in their fury to sell all of these mortgage-backed securities, the banks didn't keep very good records on who actually owned the paper. Some people who are getting foreclosed on are starting to challenge the loan-servicer (bank or credit company) to prove they own the paper on the mortgage. It creates a chicken coming home to roost situation. Check this out:

If you know anyone who is facing foreclosure, they should know about this.

beauty's picture

who knows, i just met a

who knows, i just met a friend of mine's girlfriend who has a PhD in economics from Yale. She is very pessimistic about the future although she was very drunk at the time and it's been a few weeks ago so hopefully she was either wrong or things have changed dramatically. The only thing I really understood about the conversation is that the banks are like a house with a mortgage that exceeds its value. That didn't sound very good.

We had an interesting discussion about games theory of which i know a little bit about in the context of the prisoner's dilemma. but again my teeny little knowledge took us to the edge of this vast chasm where i felt like a kindergartner talking to einstein from across the grand canyon. i was drinking margaritas. not that it made any difference.

Lezbeth's picture

Things tend to start early in

Things tend to start early in the US so that there's time to sell decorations, cards, lapel pins, as well cardboard shamrocks like paper dolls and sequined leprechauns to hang around places of business.

Lezbeth's picture

I'm no economist either and

I'm no economist either and garner my understandings from indulging my intellectual curiosity, which is why I say "as I understand it." Given that, your way of saying it sounds dead on.

Tex's picture

Here too, we're simply

Here too, we're simply starting our celebrating a little early - you know, an excuse to imbibe the Guinness or the Jameson.....thinking only peaceful thoughts in the Isles......

Twitter Time @kdhales

Steph's picture

I am confused - St Patrick's

I am confused - St Patrick's day here is March 17th?!?!?

But I am English so what would I know?!?! Smile

beauty's picture

"It’s a great business…print

"It’s a great business…print paper money (with no real value except the US’ GDP), sell it to the govt., charge them interest, then collect the equivalent from others." Great comment.

I couch my reply/ultimate question with the caveat that i am absolutely not an economist and that i am completely inept when it comes to money or math.

Your comment as I understand it comports with Marx's observation, cited in my original comment, that money itself has actually become a commodity, i.e., an economic good or entity, independent of the physical product that originally created its value. It is simply a replication of a replication of a replication of a replication of the labor that originally created its original value until eventually the labor based value simply disappeared.. Now, it is so far removed from its original physical value that nothing is left but a house of cards waiting to be blown over when the labor upon which it originally rested falls apart (e.g., the auto industry).

I think you're right that as long as the federal reserve operates in its current state, nothing will change regardless of the use of economic theories.

Am i anywhere near an accurate observation?

SnowAngel's picture

These Irish eyes are smiling

These Irish eyes are smiling no matter what the stock market is doing.

Happy St. Patricks Day!
May you all find your four leaf clover.

Lezbeth's picture

Many decades ago, when a

Many decades ago, when a handful of bankers got together in secret to develop a national monetary system, which came to be known as The Federal Reserve, the fate of our economy was sealed. As a private entity that controls national monetary policy, the Federal Reserve is completely outside of national control and neither laws nor a political will can override what it decides.

As I understand it, the fed prints dollars, the US treasury "buys" dollars (adding to the deficit) from the fed, then pays the fed interest on the use of those dollars. The fed sells "treasuries" and pays the amount of interest they decide to pay to various owners of those treasuries while charging the US govt. interest. It's a great business...print paper money (with no real value except the US' GDP), sell it to the govt., charge them interest, then collect the equivalent from others. As the GDP falls, the value of that paper money gets shakier and shakier.

The fed uses its independent authority to manipulate the market in numerous ways--nothing transparent here, all private enterprise with no oversight.

Capitalism or socialism, ownership of banks or nationalized banking really don't matter as long as the federal reserve operates like a drug pusher, providing the legal drug of choice (dollars) and taking promises to pay in return.

Tex's picture

Economic times - rich getting

Economic times - rich getting richer.....perfect time to be gobbling up stocks that are down......if you bought CitiBank stock yesterday you would have made 28% (at last check) on your investment today....Happy St. Patrick's Day! I'm stocking up on the Guinness and having corned beef and cabbage....still looking for that pot o' gold at the end of my rainbow - and it has nothing to do with a precious metal!

a wee bit of line dancing for ya'll......

Twitter Time @kdhales

beauty's picture

Since, thus far the

Since, thus far the playground is empty I will let Karl Marx play on the jungle gym of capitalism and bear the burden of its emptiness:

Karl Marx: Clip from "Marx In Soho" - Segment: What if the big man was alive today?

Marx Quotes
Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks.

Art is always and everywhere the secret confession, and at the same time the immortal movement of its time.

Capital is money, capital is commodities. By virtue of it being value, it has acquired the occult ability to add value to itself. It brings forth living offspring, or, at the least, lays golden eggs.

Democracy is the road to socialism.