Doing Nothing or Nothing Doing? – Global Research

doing-nothing-or-nothing-doing?-–-global-research

24-03-20 03:50:00,

A few years ago I wrote a piece for Labor Day suggesting that it become a “do-nothing day.” It was a bit satirical but of course had a serious point as satire does.  I had little hope that my recommendation would be adopted.  Now that we are suffering from coronavirus panic and people are being told to shelter in their homes, many are no doubt suffering withdrawal symptoms from having to slow down. After all, how many cookies can you bake, television and movies watch, liquor drink, emails and texts send and receive, toilet paper rolls count, etc.?

I am well aware that this enforced idleness has inflicted enormous economic damage on regular working people world-wide, as I believe it is meant to do. The psychological damage is incalculable. The super-rich will no doubt profit mightily from the coronavirus crisis while the poor and middle-classes, small business owners, and the elderly will suffer greatly. The government will use people’s taxes to bail out big banks and corporations for whom they front. Inflicted suffering has a way of culling the herd and controlling the survivors.  It’s an old story continually updated.

Such suffering notwithstanding, I think the points I made in that do-nothing article are worth repeating and so I will repeat them in an edited way in what follows.  A do-nothing day has now become weeks. I think it important that we create a chrysalis of light and hope in these dark times.  Embracing contemplation might even breed resistance to the evil forces that run the show.

In a country with a Mount Rushmore that celebrates the ruthless and frenetic westward expansion, it might be a bit naïve to suggest do-nothing days are a good thing.  I have nothing against laboring men and women working hard and constantly. I am a laborer myself, and national holidays like Labor Day are great – so many sales for stuff no one needs, and far too many people working on an ostensible holiday.  But I have this ridiculous dream of a time when everyone just does nothing for a while.

To rush less, to idle, and to do nothing sounds so un-American, yet it might be a solution to many of our country’s problems.  Quixotic as it may sound,

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At least someone’s doing well: Goldman Sachs gives CEO 20% raise as it forecasts crash for America

at-least-someone’s-doing-well:-goldman-sachs-gives-ceo-20%-raise-as-it-forecasts-crash-for-america

21-03-20 09:06:00,

Even as the US stock market continued its free-fall due to the coronavirus pandemic, the top banker at Goldman Sachs got a pay raise of $2 million a year, a $7.65 million cash bonus, plus stock options worth $17.85 million.

David Solomon “led our development of the firm’s three-year business plan and a clear long-term strategy that leverages our foundational advantages, enhances the firm’s long-term mindset and instills a culture of innovation,” Goldman said in a federal filing disclosing the compensation.

Some Friday-after-the-close news: Goldman Sachs CEO David Solomon gets a 19% raise. It’s the biggest payday for a Goldman exec since Lloyd Blankfein took home $41m in 2007.

— Liz Hoffman (@lizrhoffman) March 20, 2020

His compensation package is the biggest for a Goldman Sachs CEO since Lloyd Blankfein took home $41 million in 2007, right before the mortgage collapse. It was was reported on Friday, after the US stock markets closed on yet another abysmal week, amid the economic downturn brought on by the fear of Covid-19.

The Dow Jones Industrial Average closed on Friday at 19,173.98 – down 913.21 points, or 4.55 percent. The S&P 500 was down 4.34 percent, and the NASDAQ had dropped 3.79 percent. All three indices have collapsed since their peak in mid-February – the NASDAQ losing almost 30 percent, the S&P down 32 percent, and the Dow tumbling 35.1 percent from its February 12 peak – wiping out all the gains since the beginning of the Trump presidency.

Also on rt.com
Worst week since 2008: US stocks hit hard as Covid-19 keeps hammering world of finance

Millions of US companies have shuttered, some permanently, as New York and California went into lockdowns and all mass gatherings across the US were canceled, with no end in sight.

News of Solomon’s big payday was not particularly well received by Americans quarantined across the nation. Reactions ranged from anger – that this was just “asking for riots” – to snark about hoarding wealth the way some panicked shoppers hoarded toilet paper.

Just hours before Goldman Sachs gave Solomon a massive raise, its economists forecast an unprecedented decline in US GDP based on the coronavirus shutdown – down 24 percent in the second quarter,

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Mish: What The Hell Is The ECB Doing?

mish:-what-the-hell-is-the-ecb-doing?

05-10-19 06:51:00,

Authored by Mike Shedlock via MishTalk,

Danielle DiMartino poses an interesting question regarding the ECB. I have a set of answers.

What is the ECB Doing?

I started thinking about that question weeks ago.

I have a set of answers and even started writing this post before DiMartino brought it to the forefront.

There are only two answers. One of them is very unsettling.

  1. Ignorance

  2. On Purpose

Occam’s Razor

Occam’s razor is a principle from philosophy. Suppose there exists two explanations for an occurrence. In this case the one that requires the least amount of assumptions is usually correct. Another way of saying it is that the more assumptions you have to make, the more unlikely an explanation.

Occam’s Razor typically eliminates most conspiracy theories. It’s not that conspiracies don’t happen, but that simpler solutions are far more likely.

My corollary to the theory is very easy to understand: If stupidity is one of the possible answers, it is the most likely answer.

I am a normally a big fan of Occam’s Razor.

But this is so bizarre that I have my doubts.

Importantly, this may not be a conspiracy at all. Mario Draghi can easily be acting alone.

My Lead Question

How stupid can things get before one starts believing something else is in play?

I had already been thinking about that question when not only did ECB president Mario Draghi further push interest rates into negative territory but he also said it was a good idea for the ECB to think about MMT.

Shocking ECB Dissent

Lagarde inherits #ECB tinged by bitterness of Draghi stimulus. Draghi has issued veiled criticism of his QE opponents. New president will need to confront fractious policy making. https://t.co/PC1FRcvi9V pic.twitter.com/3AIoCKoTZi

— Holger Zschaepitz (@Schuldensuehner) September 29, 2019

Dissent at the Fed happens all the time. It is rare at the ECB. The ECB builds a consensus and it is typically unanimous.

Question on Deutsche Bank and Commerzbank

How is it that Draghi cannot see the damage negative interest rates do to German banks?

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I Am Doing a Report on Epstein’s Death and I Need Your Help

i-am-doing-a-report-on-epstein’s-death-and-i-need-your-help

11-08-19 08:19:00,

JOIN THE INVESTIGATION: https://www.corbettreport.com/?p=32414

As you know by now, Jeffrey Epstein was found dead in his cell on Saturday morning. Officials have already ruled the death a suicide. I am working on a report about the circumstances of Epstein’s death, but I need your help to compile the data about this incident as it comes out. Corbett Report members are invited to join the open source investigation and leave any pertinent links to data and analysis in the comments section on corbettreport.com.

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