MLK Day Open Thread

Markets Closed in honor of Martin Luther King Jr.

Will have some Scrib'd thoughts later this afternoon.


































"...But there is something that I must say to my people, who stand on the warm threshold which leads into the palace of justice: In the process of gaining our rightful place, we must not be guilty of wrongful deeds. Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred. We must forever conduct our struggle on the high plane of dignity and discipline. We must not allow our creative protest to degenerate into physical violence. Again and again, we must rise to the majestic heights of meeting physical force with soul force...."

Classic.
~~~~~~~~~
Market Commentary 16Jan12

24 comments:

Andy T said...

Some lucid commentary from Dylan Ratigan on the completely failed "war on drugs."

http://www.businessinsider.com/occupy-the-dream-the-mathematics-of-racism-2012-1

Anonymous said...

some things should be re-Read..

"...But there is something that I must say to my people, who stand on the warm threshold which leads into the palace of justice: In the process of gaining our rightful place, we must not be guilty of wrongful deeds. Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred. We must forever conduct our struggle on the high plane of dignity and discipline. We must not allow our creative protest to degenerate into physical violence. Again and again, we must rise to the majestic heights of meeting physical force with soul force...."

and, really, if the 'Cained Peep weren't so "strung-out", they'd realize that that message applies to them, now, ever more fully than, even, then..

or, differently, just because Kunta Kinta` isn't, directly, in your 'Family Tree', doesn't mean that you aren't, now, on a Plantation..

AAIP

Anonymous said...

Mr. Daisey and the Apple Factory
January 16th, 2012


Be sure to remove your children from the room if you listen to this.

Also, here are the large companies that have outsourced manufacturing to Foxconn [source: Wikipedia]:

(country of headquarters in parentheses)

Acer Inc. (Taiwan)
Amazon.com (United States)
Apple Inc. (United States)
ASRock (Taiwan)
Asus (Taiwan)
Barnes & Noble (United States)
Cisco (United States)
Dell (United States)
EVGA Corporation (United States)
Hewlett-Packard (United States)[26]
Intel (United States)
IBM (United States)
Lenovo (China)
Logitech (Switzerland)
Microsoft (United States)
MSI (Taiwan)
Motorola (United States)
Netgear (United States)
Nintendo (Japan)
Nokia (Finland)
Panasonic (Japan)
Philips (Netherlands)
Samsung (South Korea)
Sharp (Japan)
Sony Ericsson (Japan/Sweden)
Toshiba (Japan)
Vizio (United States)

So, while Apple and Apple zombies make so much noise about how different Apple’s stuff is from the competition, it’s all made in the same Foxconn dungeons.

Via: This American Life (.mp3 audio download):..."

"...Summary Article: Your iPhone Was Built, In Part, By 13 Year-Olds Working 16 Hours A Day For 70 Cents An Hour

Related:

Introducing Siri: DARPA’s Ghost in Apple’s Machine

‘There’s a joke among executives whose livelihoods depend on Foxconn: In 20 years, there will be only two companies. Everything will be made by Foxconn and sold by Wal-Mart.’

Mass Suicide Threats at Foxconn Xbox 360 Plant

The Coming War on General Purpose Computation

Posted in Atrocities, Dictatorship, Economy, Elite, Outsourced, Perception Management, Technology

http://cryptogon.com/?p=27002

ibid.

cv said...

just because Kunta Kinta` isn't, directly, in your 'Family Tree', doesn't mean that you aren't, now, on a Plantation

It's not altogether unlikely that Obama's ancestors SOLD 'Kunta Kinta' for profit...

http://aconservativelesbian.com/2009/07/13/obamas-kenyan-ancestors-sold-slaves/

But don't let any of those thoughts pollute anyone's erstwhile lily white noble opinions about themselves...

cv said...

@AAIP

So, while Apple and Apple zombies make so much noise about how different Apple’s stuff is from the competition, it’s all made in the same Foxconn dungeons.

Read's just like "juniors" Christmas WISH LIST doesn't it?

But whatrever you do... Don't spoil it for Junior...

Pat him on the a55 and send him/her off to school knowing that it's the right thing to do to get them to become good behaving ~ INDOCTRINATED little blogger & blogger-ettes in the future...

cv said...

@AAIP

Talk about a friggin dilemma (vis-a-vis Foxconn)...

Most workers (at FoxConn), are basically from the cut of Chinese migrant farmers (who were forced to leave their farms when the government decided to build dam projects & other infrastructure projects)...

To obtain work in the cities & with companies, they had to sign labor contracts (which means they DO NOT have the choice to simply go back to the farm ~ of which there ISN'T anymore anyway)... Instead, they'll be faced with PRISON GULAGS if they don't work...

So it's JUMP, or get sent to the GULAG...

But yeah! That g4 Apple "iThingy" is really cool & I just gotta have one, right?... That way, I can access the internet IN STYLE from ANYWHERE and tell people my opinions about things (like how the S&P is going to trade tomorrow)...

Andy T said...

@aaip.

amazing.

Anonymous said...

cv--

yes, esp. re: your 19:12..

so many that: "...Don't spoil it for Junior...

Pat him on the a55 and send him/her off to school knowing that it's the right thing to do to get them to become good behaving ~ INDOCTRINATED little blogger & blogger-ettes in the future..."

and, *rationalize with: ~"But, those 'Peasants' wouldn't do it if they a 'better choice'.."

w/o realizing, of course, the Reality (facing those 'Peasants') behind their eCON Textbook 'Theories'..

(I had longer post, in response, but, for some reason, the Opera-browser /Crashed/)
~~~

AT,

yes, no doubt, that Foxconn 'Story', just, keeps getting *better, and *better..

~~~

anyone taking wagers that there's a double-entendre` embedded in that 'Foxconn'-Name ?

AAIP

Anonymous said...

on a different note:

"...The reverse design of the coin depicts the U.S.S. Cairo on the Yazoo River. The ironclad gunboat is shown as it would have appeared while serving in the Union Navy during the Civil War. Inscriptions around the outer edge include “Vicksburg”, “Mississippi”, “E Pluribus Unum” and “2011″. The reverse was designed by Thomas Cleveland and sculpted by Joseph Menna.

The obverse of the coin carries the John Flanagan portrait of George Washington used for the 1932 Washington Quarter. Inscriptions include “United States of America”, “Liberty”, “In God We Trust”, and “Quarter Dollar”. The edge of each coin includes incuse lettering indicating the weight and fineness “.999 Fine Silver 5.0 Ounce”.

The Vicksburg Five Ounce Silver Uncirculated Coin is limited to a total mintage of 35,000 coins. The US Mint will impose an ordering limit of five coins per household for the first week of release. After this point, the limit will be re-evaluated and either extended, adjusted, or removed.

Each coin is priced at $204.95 plus applicable shipping and handling. Orders may be placed online at http://catalog.usmint.gov.

Three previous releases of the series featuring Gettysburg National Military Park, Glacier National Park, and Olympic National Park also remain available for purchase. The prices for these coins were recently reduced to $204.95."

http://news.coinupdate.com/vicksburg-national-military-park-five-oz-silver-uncirculated-coins-1166/

I could see those staying at a premium to Spot..

ibid.

cv said...

@AAIP

Ulysses Grant, (drunken slob), was the commanding officer for the Union Army at Vicksburg...

I find it interesting that there were SEVERAL failed attempts to form a central bank in the United States before 1913...

One was during the time of Andrew Jackson... I believe it is written on Andrew Jacksons tombstone "I killed the banks" (or something thereof)... Not that there weren't several attempts on Jackson's life during his political career (moreso than military)...

Lincoln HATED both the banks & the IDEA that it would be his 'legacy' that the Union dissolved on his watch (therefore ~ he reluctantly got in bed with the bankers against the South & their CONFEDERATE MONEY)... Just as the war was ending in victory, coincidentally, a bullet was fired into his skull (as was with JFK ~ almost exactly 100 years later, months after he signed an executive order which offered a currency which was packed by US Government silver holdings in 1963)...

The US Federal Reserve was established in 1913 (50 years between the above mentioned incidents)... As many know, its charter flew thru Congress during a time while most of Congress was home for Christmas and were absent to vote... It was hurriedly signed within an hour by Woodrow Wilson...

In a strange mockery... Lincoln was put on $5 notes, & Andrew Jackson was put on $20 notes...

Ulysses S Grant appeared on the higher denomination $50 note... While Woodrow Wilson's face adorns the rarely seen $100,000 note...

Historical facts about our nation that "junior" (of the above mentioned "iThingy" reference), isn't taught in public schools...

Junior gets a full dose of MLK (& many other things) though...

cv said...

almost exactly (100 years) is 'a little' literary embellishment... (more like 17 months short)...

But close enough for government work... :-)

Anonymous said...

cv--

just, to note, that is One, of a Series of, Coin(s)..

but, yes, I hear ya..

though, what, always, amazes me, is that no one speaks of James A. Garfield, when mentioning the others, as you did, above..

"...During Garfield's congressional terms, debates raged between legislators who demanded that all U.S. money be backed by gold and the "Silverites" and "Greenbackers," who wanted to issue paper currency and coin silver more freely in an attempt to alleviate pressing debts, especially those of struggling farmers. Garfield advocated hard money policies backed by gold, making him a favorite with eastern "Gold Bug" Republicans. He opposed cooperative farm programs such as those supported by the Grange, an agrarian organization; labor unions; the eight-hour workday; and federally funded relief projects.

Like many men in office, Garfield had a scandal to live down. He was implicated in the Credit Mobilier scandal in which congressmen who owned stock in Credit Mobilier, a construction company for the transcontinental Union Pacific Railroad, were accused of turning a blind eye to corruption in the company.

In 1876, Garfield supported the reform-minded Rutherford B. Hayes for President. To soothe Democrats who were enraged by Hayes's election after disputes about the electoral returns from several key states, he supported the Compromise of 1877, which ended the military occupation of the South. Garfield also had a talent for achieving compromise between the "Stalwart" Republicans, led by Roscoe Conkling (the New York State political boss), and an opposing faction, disparagingly called "Half-Breeds" by Conkling and his allies..."

"...As a congressman, Garfield became an expert on financial matters by serving on key committees. He held various positions, including chairman of the Banking and Currency Committee, the Appropriations Committee, and the Military Affairs Committee. He was also a member of the House Ways and Means Committee. In that capacity, he advocated hard money policies despite the soft money, or inflationary, sentiment of his home district. He opposed all efforts to inflate the supply of money through the issuance of paper currency unbacked by gold; use of the unbacked greenback dollars (printed during the Civil War) to redeem government bonds; or free and unlimited coinage of silver into coins. This hard money stance made him a favorite with eastern "Gold Bug" Republicans in their fight to keep the nation's money supply from expanding. As creditors, "Gold Bugs," usually bankers and wholesalers, did not want the money they had loaned out to be paid back with less valuable or inflated paper dollars—dollars that were worth less in their purchasing power than the dollars they had advanced to their debt-owing customers and business clients..."
http://www.thelatinlibrary.com/chron/civilwarnotes/garfield.html

ibid.

Anonymous said...

"...In the important Treasury post, Garfield broke openly with Conkling when he appointed William Windom of Minnesota; Garfield insisted that he wanted someone free from the influence of eastern bankers..."

"...In the 1870s, thousands of midwestern and southern farmers found little reason to support either the Republicans or the Democrats in because neither party seemed able to address the depression in agricultural prices. Farmers who had borrowed heavily to modernize their farms in the 1860s and 1870s found the prices they received for corn, wheat, and cotton dropping badly. At first, many discontented farmers joined the Grange movement, which supported state legislation to regulate rail rates for farm products, cooperative retail and wholesale stores, and the cooperative marketing of crops. When, in the mid-1870s, internal bickering doomed the organization, angry farmers joined the Greenback movement, which ran third-party candidates in the congressional elections of 1878 and the presidential election of 1880. The Greenback Party supported printing paper currency unbacked by gold, which had been done during the Civil War, as a means of raising farm prices. They reasoned that if currency grew more rapidly than the economy (the production of goods), prices would rise as more dollars chased fewer and fewer goods. This would be good for farmers and most debtors. In the presidential election of 1880, Greenback candidate James B. Weaver of Iowa, a Greenback congressman, got only 3.4 percent of the popular vote, or 308,578 votes..."

from, above, link..

the 'Paper', in total, is a 'White-wash'..

ibid.

Anonymous said...

"He who controls the money supply of a nation controls the nation."

+ others
http://www.great-quotes.com/quotes/author/James+A./Garfield

"The chief duty of the National Government in connection with the currency of the country is to coin money and declare its value. Grave doubts have been entertained whether Congress is authorized by the Constitution to make any form of paper money legal tender. The present issue of United States notes has been sustained by the necessities of war; but such paper should depend for its value and currency upon its convenience in use and its prompt redemption in coin at the will of the holder, and not upon its compulsory circulation. These notes are not money, but promises to pay money. If the holders demand it, the promise should be kept."

"Whoever controls the volume of money in any country is absolute master of all industry and commerce."

"By the experience of commercial nations in all ages it has been found that gold and silver afford the only safe foundation for a monetary system. Confusion has recently been created by variations in the relative value of the two metals, but I confidently believe that arrangements can be made between the leading commercial nations which will secure the general use of both metals. Congress should provide that the compulsory coinage of silver now required by law may not disturb our monetary system by driving either metal out of circulation. If possible, such an adjustment should be made that the purchasing power of every coined dollar will be exactly equal to its debt-paying power in all the markets of the world."

"The prosperity which now prevails is without parallel in our history. Fruitful seasons have done much to secure it, but they have not done all. The preservation of the public credit and the resumption of specie payments, so successfully attained by the Administration of my predecessors, have enabled our people to secure the blessings which the seasons brought."

"Be fit for more than the thing you are now doing. Let every one know that you have a reserve in yourself; that you have more power than you are now using. If you are not too large for the place you occupy, you are too small for it."

http://quotes.liberty-tree.ca/quotes_by/james+a.+garfield

dude is, yet, another, that had the majority of his Historical "Meat" stripped from its bones..

AAIP

Anonymous said...

John Adams, Debt quotes:
"All the perplexities, confusion and distress in America arise not from defects in their Constitution or Confederation, nor from want of honor or virtue, so much as downright ignorance of the nature of coin, credit, and circulation."

http://quotes.liberty-tree.ca/quotes/debt

gee, and to think how long we're going to have to Wait...that guy (John Adams) "hasn't, even, been born, yet.."

ibid.

Anonymous said...

http://jessescrossroadscafe.blogspot.com/2012/01/martin-luther-king-day-2012.html

for 'the record' (however long it remains..)~

AAIP

AmenRa said...

I'm amazed how the market is trying to shrug off the downgrades and the effect on future sovereign financing.

Greece already has one foot in the grave.

EFSF ability to fund itself drops with each downgrade.

Two out of three TBTF have reported WTE earnings.

AmenRa said...

WFC only beat because of loan loss provision. Otherwise it would have had negative EPS.

cv said...

@AAIP (12:30)

The entire succession of US Presidents between Lincoln and Woodrow Wilson (& even somewhat afterwards onto FDR) is rather fascinating...

Most of it, (in practical terms), revolves around what 'relation' (good or bad) anyone had with the brokers of Kuhn, Loeb & Company, (& more importantly, WHO "Kuhn, Loeb, & Company actually were)... As were the destinies of names like Rockefeller, Morgan, & Carnegie...

Most of what anyone needs to know is all in here...

http://www.apfn.org/apfn/reserve.htm

---

"Reality" (as most people see it) is not reality at all... We really live in THE MATRIX & obviously there are not enough "red pills" to go around...

Anonymous said...

cv--

toward you point, ~12:33..

"....Via: Valleywag:

The company behind Mafia Wars and Farmville doesn’t like to talk about the sad addicts who fuel its profits. But it does quietly run a special store for them, where imaginary credits are bought with very real bank transfers.

The minimum purchase in Zynga’s underground “Platinum Purchase Program” is $500, payable by wire transfer (see email below). The reward over buying online with your credit card: Extra points with which to buy virtual goods for the company’s Facebook games. If you refer a friend to the program, you get even more points..."
http://cryptogon.com/?p=17592

‘There’s a joke among executives whose livelihoods depend on Foxconn: In 20 years, there will be only two companies. Everything will be made by Foxconn and sold by Wal-Mart.’
September 13th, 2010

As I read this breathtaking account of Foxconn and its founder, Terry Gou, it kept reminding me of Hunter S. Thompson’s drug addled evening at the Circus-Circus casino in Las Vegas. Here’s an excerpt from Fear and Loathing in Las Vegas to help put you into the right frame of mind ..."
http://cryptogon.com/?p=17613

Plug in and be lit up by the American Hologram.

This great loom of media images, and images of images, is so many layers deep that it has replaced reality. No one can remember the original imprint. If there was one. The hologram is a hermetic snow globe, a self-referential circuitry of images, and a Möbius loop from which there is no logical escape. Logic has zilch to do with what is going on. The smallest part holographically recapitulates the whole, and vice versa. No thinking required, we just cycle and recycle through an aural dimension. Not all that bad, I guess, if it were not generated by forces out to fuck every last pair of eyeballs and mind plugged into it.

The investing class has put thousands of billions into movies, TV and other media to keep the hologram lit up over the past six decades. Which is to say, keep the public in an entertained stupor, awed, mislead, and most importantly, distracted. But the payoff probably runs in the trillions.

—Joe Bageant, Lost on the Fearless Plain
http://cryptogon.com/?p=26849

ibid.

Andy T said...

S&P500 getting it's "wobble" on into that resistance zone.

Anonymous said...

http://quotes.ino.com/chart/?s=NYMEX_NG.H12.E

went sub-U$D 2.50

...

Anonymous said...

NG.G12.E Feb 2012 (E) 2.550 2.584 2.439 2.487 -0.063 -2.47% 15:28
NG.H12.E Mar 2012 (E) 2.605 2.625 2.485 2.528 -0.061 -2.36% 15:27
NG.J12.E Apr 2012 (E) 2.669 2.707 2.575 2.616 -0.055 -2.06% 15:10
NG.K12.E May 2012 (E) 2.737 2.776 2.645 2.687 -0.053 -1.93% 15:15
NG.M12.E Jun 2012 (E) 2.795 2.823 2.702 2.741 -0.055 -1.97% 15:03
NG.N12.E Jul 2012 (E) 2.850 2.888 2.756 2.794 -0.058 -2.03% 15:04
NG.Q12.E Aug 2012 (E) 2.870 2.914 2.787 2.824 -0.059 -2.05% set 14:59
NG.U12.E Sep 2012 (E) 2.884 2.912 2.790 2.830 -0.051 -1.77% set 14:59
NG.V12.E Oct 2012 (E) 2.925 2.956 2.837 2.877 -0.048 -1.64% set 14:59
NG.X12.E Nov 2012 (E) 3.090 3.129 3.009 3.048 -0.057 -1.84% set 14:40
NG.Z12.E Dec 2012 (E) 3.391 3.430 3.320 3.359 -0.046 -1.35% set 14:41
NG.F13.E Jan 2013 (E) 3.540 3.575 3.470 3.496 -0.042 -1.19% 15:11
NG.G13.E Feb 2013 (E) 3.549 3.571 3.469 3.500 -0.044 -1.24% set 14:33
NG.H13.E Mar 2013 (E) 3.524 3.543 3.444 3.470 -0.033 -0.94% 15:11
NG.J13.E Apr 2013 (E) 3.480 3.509 3.407 3.436 -0.024 -0.69% set 14:40
NG.K13.E May 2013 (E) 3.526 3.526 3.440 3.459 -0.025 -0.72% set 12:05
NG.M13.E Jun 2013 (E) 3.485 3.499 3.470 3.491 -0.014 -0.40% set 14:34
NG.N13.E Jul 2013 (E) 3.555 3.555 3.509 3.534 -0.026 -0.73% set 14:00
NG.Q13.E Aug 2013 (E) 3.585 3.585 3.532 3.552 -0.028 -0.78% set 11:10
NG.U13.E Sep 2013 (E) 3.594 3.594 3.529 3.555 -0.008 -0.22% set 14:28
NG.V13.E Oct 2013 (E) 3.650 3.650 3.570 3.595 -0.027 -0.75% set 12:27
NG.X13.E Nov 2013 (E) 3.756 3.757 3.705 3.716 +0.013 +0.35% set 11:02
NG.Z13.E Dec 2013 (E) 3.975 3.975 3.919 3.948 +0.027 +0.69% set 14:33
NG.F14.E Jan 2014 (E) 4.091 4.100 4.050 4.066 +0.023 +0.57% set 12:06
http://quotes.ino.com/exchanges/contracts.html?r=NYMEX_NG

ibid.

cv said...

@AAIP

I doubt, very soon, we'll even need Foxconn anymore... We'll have our own "forced labor" camps coming soon in America to service all of your new "iThingy" needs at pennies on the dollar... Whilst APPLE enthusiasts stand up and cheer!~

http://www.inkom.com.au/blog/fema-camps-may-soon-drive-corporate-profits

---

On the subject of "entertainment stupor"... A CARTOON (= easy to digest, so thankfully won't be difficult for many otherwise occupied bloggers to understand)...

Huxley vs Orwell

http://www.recombinantrecords.net/docs/2009-05-Amusing-Ourselves-to-Death.html

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