Tuesday, February 26, 2013

The Banking System and Economic Growth

There is a strong relationship between the viability of the global banking system and the need for economic growth.  Here is how the banking system relates to the economy. 

1. When a bank customer gets a loan from a bank the bank is essentially issuing new currency into circulation.  The new currency is in bank deposit form (rather than paper form).  So, each loan is a new currency being created by the bank.   The money supply (currency supply)  increases when the loan is funded (the act of funding a loan is just a book entry in the bank's ledgers -- nothing more!).

2. When the loan is paid back the currency supply (money supply) goes down because unless the money is re-lended it is out of circulation for use by the public.   Prolonged decreases (due lack of re-lending returned currency/money) in currency supply lead to a severe economic recession and ultimately an economic depression. 

3. If the economy has the capacity to grow then re-lending continues and actually more has to be lent out as time goes on because not only principal has to paid back by previous borrowers but interest also on previous loans.  The currency supply has to constantly increase (by ever more lending) in order to pay back principal and interest.  The banking system cannot operate in backwards (i.e., decreasing currency supply for a prolonged period).

4. This type of banking (constantly increasing money supply by lending and re-lending) is called Fractional Reserve Banking.

5. Most currency (about 90%) is issued (created) by banks and not by the government through the process of Fractional Reserve Lending described above.

6. Economy can ONLY grow if the following is true:

  • cheap source(s) of energy are available to extract and process raw materials (iron ore, copper, lumber, etc.), transport raw materials to a factory, manufacture and send finished goods to the markets. Not to mention "low cost" energy needed to heat and cool homes and transport people and grow food (fertilizer is made from natural  gas, water is pumped out of the ground, pesticides are made from oil ).  Farm machinery runs on oil.  Most electricity generation plants run on fossil fuels.

  • Skilled labor is plentiful (engineering knowledge and management knowledge and medical knowledge).

  • Free/fair markets and entrepreneurship and investment facilitating firms. 


  • A Decent government (peace, security and rule of law).

Growth is not possible anymore because 95% of our energy comes from fossil fuels (coal, natural gas and oil).  We need not only energy but "low cost" energy for economic growth.  Fossil fuels are depleting very fast (the cheap/easy oil is very hard to find).   Peak Oil has been reached (in 1998 crude was $11 a barrel and now it is around $95 per barrel).  Per BLS inflation numbers $11  in 1998 equals $15 in 2013.  Therefore, the price of gasoline has far, far outpaced the inflation rate. 

Although, we are not "running out" of  fossil fuel energy any time soon (plenty of global natural gas and coal is available) our current production processes are "drenched" in oil.  A switcher-over to global natural gas and coal or nuclear probably will not make energy cheap enough to continue the economic growth of the last 300 years.

If we don't have economic growth the banking system WILL collapse as it did during the great depression.

But we cannot get out of a depression by spending money anymore because during 1930's "low cost energy" was available so all the government had to do is print money and have a huge war and get demand going and get currency in the hands of consumers via the war effort jobs.

Our monetary system must be re-designed to be not based on bank-lending created currency.   But this will not happen until a much worst banking collapse to come in the next five years.

Even after the re-designed monetary system (which will cause much, much chaos for lots of reasons:  most bonds will be worthless and stocks will fall by 90%) we will not have much growth ever again unless we find a "cheap" source of energy. Some people are praying for cold fusion technology to be developed soon.

If usury (lending based currency issuance) is NOT abandoned we will have mass global starvation because checks will not clear and supply chains will breakdown.

May God (Allah) protect us, bless us and guide us. We will certainly need his help in the next five years when the economy has to be totally redesigned to use less energy.

159 comments:

Mansoor H. Khan said...

I am writing this comment to this article to document some thoughts related to the claim in this article.
Many people have asked me so what is your remedy for this situation:

1) Immediately end usury. The banking system should become 100% reserve. F. Beard (screen name) has a great idea. F. Beard often comments on Naked Capitalism blog website. It goes as follows:

a) Ban Banks from issuing more credit money.

b) As credit is paid off (as in payment of principal and interest) to banks. The government should issue 100% reserve currency (i.e., greenbacks) to bail out/help the public via a monthly check or a bank deposit.

c) Doing item b will not change the net money supply. Because credit money goes out of circulation once paid to banks. Government newly issued currency simply replaces credit paid off.

d) Keep doing this until all credit money is extinguished. Good riddance to this haram/riba/usury. It is Lanut (a curse) on humanity.



2) The only quibble I have with F. Beard’s suggestion is that inflation needs to drive the issuance by government. If inflation is low the government can print greenbacks and help the public it should not amount of credit paid off.

3) Given scarcity of fossil fuels and its importance to the industrial economy fossil fuels are in fact the real money which determines which economic activity is conducted and how much it.

4) Since fossil fuels are a natural resource belonging to humanity we need to allocate this resource (via money) fairly and equitably.

5) We should impose consumption curbs via heavy consumption taxes which would then be rebated to the non-rich. Rich have currency (a claim on fossil fuels) but the problem is this resource belongs to all. So there is the justification of curbing Rich People’s consumption.

6) The economy allocates (distributes) consumption rights currently by savings (acquired via salary, interest, dividend, business activity, or a job) or via being granted credit.

7) Since I am suggesting traditional lending based bank credit should be removed and social credit instituted instead to share the fossil fuel resource which is the real money and which actually limits economic production in this day and age.

8) Instead of fighting over fossil fuels we should allocate it among nations and let the nations allocate to their citizens via 100% issuance of currency paid to them as social credit. Therefore citizen fossil fuel money becomes a vote of what goods and services are produced. And of course, consumption by high spenders (who will spend from savings) will need to be severely curbed via high consumption/sales tax which can then be rebated back to non-rich.

9) There is not magic here. Printing money and spending is not “trying to get something for nothing”. Banks have been printing money for hundreds of years.

10) The modern economy should be viewed like a car (a piece of capital equipment) which needs fuel (money) to be useful.

Mansoor H. Khan said...

http://mythfigh er.com/2013/03/16/the-meaning-of-america/comment-page-1/#comment-46850

I made this comment on Malcolm Rodgers Mitchell's blog:

Chris says:
March 16, 2013 at 3:24 pm
Much better. Or, perhaps, America was founded by European royalty and their mercantilist minions. Whatever. And yes, we don’t give a damn about minorities of any kind – unless we ourselves belong to a minority group. The cult of individualism is the backbone of capitalism. To succeed in America you must leave behind the beliefs of your the minority group and adopt the beliefs of the plutocracy – as Obama has done. BTW, I bought Free Money way back when & totally support you and all the other MMT (or MS) writers. Pardon my cynicism, but I don’t think the corporate media will ever allow the public in general to realize that folks like you have got it right. But I love that you keep trying.
0 0 Rate This
Reply
Mansoor H. Khan says:
Your comment is awaiting moderation.
March 16, 2013 at 6:16 pm
a while back I made this comment about Malcolm’s crusade on one of his articles:

Mansoor H. Khan says:

November 16, 2011 at 3:53 pm

Rodger,

You should think of yourself as doing what Martin Luther (1483 – 1546) did to the Church (reformation). The global banking cartel is just as powerful. Prominent orthodox economists are priests on their payroll or at least too scared to speak up.

This stuff is not that hard to get. Keynesian Economics + MMT + MS are all very clear and consistent. I find it very hard to accept that prominent economists and president’s advisers are that stupid.

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

Mansoor H. Khan

Mansoor H. Khan said...

One of the things I did not mention in this article is that not only we will not have economic growth until cheap energy source is found but we will in fact have economic contraction.

As oil supplies become and more scarce as compared to oil demand we have have to do less of oil consuming activities (like transportation by cars).

We will have to substitute natural gas, and coal and nuclear for oil. But even the amount of known natural gas and coal will NOT give us economic growth. Nuclear has not shown to be cheap enough.

The economy has three sources of demand on real resources (natural resources or finished goods or intermediate goods).

1) demand created by spending existing currency/money.

2) demand created by newly issued currency via new bank loan (a commercial bank).

3) demand created by newly issued currency by the government (currency issued by the central bank).

If the sum of demand created by the above three sources of demand is too high for the capacity of the economy inflation will result.

The capacity (today) is constricted by available energy supplies.

Mansoor

Mansoor H. Khan said...

In the above article I mention that the first order of the day is to end this bullshit call usury (i.e., fractional reserve banking).

alternative is a 1930s style deflationary collapse but this time with warp speed because at that time the currency/money supply was 50% (central bank/gov issued currency) cash and 50% credit (commercial bank issued currency) . Now it is 90% credit and 10% cash.

Also, due to the speed to information spread layoff will happen at much faster pace. The only balancing force is unemployment cash cards and EBT cards.

Most debts will be defaulted upon and there will be great social chaos.

Reforming the banking system (getting away from bank issued currency to gov issued currency) will avert social chaos but we will still not be "normal".

There will still be tremendous amount of bankruptcies and gov social credit checks will be a great help in keeping people from ending up on the street.

It is about time we stop worshiping money and share what we have better. Fractional Reserve Banking skews fruits on society and knowledge capital created socially much too far in very few hands.

Money then becomes god (allah). But there a better (more balanced) approach as outlined and explained by Clifford H. Douglas.


Mansoor H. Khan said...

My broker has been bugging me for the last to years to move away from cash and into the market.

I told him that I am expecting the Dow to go to 3000 or less in the next five years. He wanted to know why. So I told him that I would email the reasons to him (I did not want to have a long conversation at work with him on the phone).

Mansoor H. Khan said...

If usury is not ended (at least this extreme form of usury where currency/money is lended into circulation) then we will have a deflationary collapse of the economy and a mad max situation.

Therefore, the choice is to save our civilization or it will end via a deflationary collapse.

Since the industrial revolution began great amount of money supply/currency supply had to be created to accommodate the increased economic activity. Usurer (aided and abetted by bankers and politicians) stole so much from the people. If this currency had been issued by government the fruits of industrial revolution would have spread more evenly and money would not be a "god" as much it is today. Ignoring the scriptures (Torah, Bible and Quran) has cost civilization a tremendous amount of pain. All three abrahamanic religions forbid usury.

The process of collapse may have begun with the banking collapse in Cyprus.

Mansoor H. Khan said...

More on usury:

Within the next five years I expect the global banking system to completely collapse unless the extreme form of usury it is based on (interest based currency issuance) is abandoned. We will have a hyper-deflationary collapse of the global banking system and mass global starvation if this extreme form of usury (interest based currency issuance) is not abandoned. At this point it is humanity vs. the bankers. I pray every day that Allah guide humanity so we may remove the evil of usury in our economic affairs.
Usury has caused extreme imbalance in income across the globe for the past 100 years. Usury has greatly amplified poverty on earth. Usury was responsible for the great depression in America and Europe in the 1930s. Imbalance caused by usury leads to more worship of money. Money has become a false god in our lives because we are mis-using this tool.
Usury is an example of something all abrahamanic religions (Judaism, Christianity and islam) forbid. We (humans) are learning the wisdom behind prohibition of interest based economic system (our usury based current global banking system) via experience.

Mansoor H. Khan said...

More on Usury:

Within the next five years I expect the global banking system to completely collapse unless the extreme form of usury it is based on (interest based currency issuance) is abandoned. We will have a hyper-deflationary collapse of the global banking system and mass global starvation if this extreme form of usury (interest based currency issuance) is not abandoned.

At this point it is humanity vs. the bankers and the usurers (i.e., the creditor class). I pray every day that Allah guide humanity so we may remove the evil of usury from our economic affairs.

Usury has caused extreme imbalance in income across the globe for the past 100 years. Usury has greatly amplified poverty on earth. Usury was responsible for the great depression in America and Europe in the 1930s. The two world wars were instigated by bankers and the creditor class.

Imbalance caused by usury leads to more worship of money. Money has become a false god in our lives because we are mis-using this tool. If currency had been issued by the government rather than the private bankers the fruits of the industrial revolution would have spread more evenly and equitably as explained by economist Clifford H. Douglas in 1924.

Usury is an example of something all abrahamanic religions (Judaism, Christianity and islam) forbid. We (humans) are learning the wisdom behind prohibition of interest based economic system (our usury based current global banking system) via experience. See my economics blog for more details on this subject: http://aquinums-razor.blogspot.com/)

The reason I have talked about usury so much is two fold:

a. Collapse of our banking system looms large threatening mass global starvation.
b. This is a case where the scripture has shown to be ahead (has more wisdom) of human experience.

Adoption of and practice of Islamic principles is not a choice it is needed for civilization to go on and thrive. Quranic knowlege and knowledge from the prophet's words and actions is what is needed to have a peaceful, satisfying, balanced and a prosperous civilization.

From my other blog:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html


Mansoor H. Khan said...

An email message to my friend inquiring about my thoughts on "bitcoin":

From: Mansoor Khan
To: Patrick Beltran
Sent: Tuesday, April 2, 2013 10:16 PM
Subject: Re: Bitcoins

Patrick,

I have heard about this before and actually read an article by one of the bloggers I follow.

This thing is a pyramid scheme of sorts where the earlier joiners to the system get a cut of new currency issuance to later joiners.

We don't need a banker free monetary system we need a usury free (gov issued currency) monetary system. I don't have anything against bankers as long as they don't issue currency. They should leave currency issuance to the government. I don't have a problem with bankers lending their own money or investors money (as long as the initial issuance was by government for the benefit of the people on general gov expenses). Bankers evaluate investments which is a needed and good service. We certainly need them for that but they don't need to skim off interest so we can use money (bank deposits) in trading/buying/selling transactions!

Gov should issue bank deposit currency which really means practically speaking that we will need to have a low cost safe bank deposit storage which contains bank deposit issued currency by the government. I see government as the voice of the people in a democracy. Which is of course is very Islamic as you now know. Yes. I know you don't want the gov to expand and have one more thing ("banking"). But if we gave check clearing to private bankers and essentially they gamed the system by issuing more checks than the government authorized cash in their vaults! Gov will not give out loans but only provide safe storage of bank deposits (100%) for a low fee in my scheme.

Our economy's entire currency supply is "rented" into existence via interest bearing loans. This is bullshit and it has gone on far too long. The public is essentially paying rent for that belongs to them.

Modern money is simply a ledger entry (a book entry) in a Oracle table. A ledger is just a two column table that has account number on the left side and the deposit balance on the right side. The balance is the bank deposit amount. The balance just goes up and down as you receive or spend money. Of course, when your balance goes up or down somebody else's balance goes in the other direction. So the ledger stays balanced.

Modern banking just plays games with this ledger idea so bankers end up actually increasing and decreasing the total ledger balance because they don't (as assumed by most people) simply keep track of government issued money. They actually create it when they fund a loan. Just like in the middles ages with its "No salvation outside the church" doctrine the modern day international banking cartel does not let any country have gov issued currency. That is one reason Hitler's butt was kicked by the banking cartel. Hitler's German gov printed currency and re-built Germany after WWI. The bankers had to show other world politicians that any attempt to leave the Rothschild's model (i.e., non-banker issued currency) would have dire consequences for that country.

This little act of funding loans (and creating/issuing currency) gives bankers immense power. They literally rule the world behind the scenes starting from Rothchilds. They can create recessions and depressions by withholding loans and literally sobotage an economy at will. The have the politicians by their b_lls. Not just obama but even your beloved Reagan was clueless about this fact! Yes. Absolutely clueless. I know it is hard to believe.

continued on next comment

Mansoor H. Khan said...

Bankers know how to find likable but clueles people like Obama and Reagan. Party does not matter. Just keep the public confused about how an economy actually works and how currency relates to the production process. Even these days politicians keep talking about national debts and unfunded liabilities. These dimwits should realize that a factory does not care or know how much national debt or unfunded liabilities a country has. It is the factory/economic capacity that matters not accounting entries or unfunded liabilities. They (the politicians) should be worried about declining fossil fuel supplies and not how much scrip (currency) is in the kitty since currency is issuable via mouse click (and energy supplies are not!). It is the Gasoline price that is killing the economy and not allowing increased economic activity (commonly known as economic growth). Miles driven is down to 1995 levels because consumers just can't afford the gasoline.

Money is simple. Bankers have made it complicated because it benefits them dis-proportionately to their contribution to society. The world Banking Cartel is equivalent of the modern day corrupt church of the middle ages which had to be fought and reined in by the protestants.

The churche's power was broken because of the printing press. People started reading and interpreting the bible themselves instead of relying on the priests.

Inshallah the power of the global banking cartel will be broken I estimate in the next five to then years because of printing press version 2 (the internet). The cartel is unable to control the information flow on the net and is screwed and knows it. God willing I pray to Allah I will see this beast slaughtered before I die. Yes, I know truth is always victorious (a common hindu saying usually stated in sanskirit) but there are certain things my heart would like to see before I depart from this world and this is one of them.

Within the next five years I expect the global banking system to completely collapse unless the extreme form of usury it is based on (interest based currency issuance) is abandoned. We will have a hyper-deflationary collapse of the global banking system and mass global starvation if this extreme form of usury (interest based currency issuance) is not abandoned. Checks will not clear and supply chains will breakdown.

Mansoor H. Khan said...

More correspondence with my good friend:

From: Mansoor Khan
To: Patrick Beltran
Sent: Wednesday, April 3, 2013 8:56 PM
Subject: Re: Bitcoins

Patrick,

Money can be done two ways:

1) a physical thing that you can hold and transfer physically (like a dollar bill or quarter).

or

2) keep track the ownership of it in a ledger and adjust the ledger when ownership of it is transferred. In this day and age this is done by a bank which is a semi-government entity due to deposit insurance. Deposit insurance gives owners of the money peach of mind.

Libertarian types (people like you) who don't like government don't like bank money (the second type described above) because some entity has to be a ledger owner and the ledger updater when ownership needs to be transferred. Also, ledger money is not anonymous since government or some other entity can easily trace a citizen's monetary transactions.

Physical thing money (like coins or paper) are more liked by libertarian types since others cannot easily track done citizen's monetary transactions. Also, coins can easily be gov independent. Gov standard coins just makes trading and acceptance easier.

Bit coins is trying to a virtual coins money without a central ledger. But I cannot wrap my mind around it (as you would say) for the life of me how would this be done and coin numbers be authenticated. I guess coins numbers can be divided up among many servers but then the authentication software would have to search N servers to validate a number.

Also, If I have someone's bit coin number does that mean that I can easily steal it by buying something with it and it would not be traced to me? Like a swiss bank account number?

Not sure. My rule of thumb is: If it is too hard to understand then it is probably too easy to be gamed by its administrators (by the way that is exactly the problem we have with our set of bankers).

I like the KISS philosophy popularized by dominoes pizza chain management.

Let the gov issue bank deposit money and keep track of who has how much and let it to the updating (check clearing). Now this is KISS banking.

The basic check clearing and keeping track of deposits (currency) is too easily game-able. It is like having a privatized military.

By the way you do realize my new and improved theory is that:

Due to high energy costs (read increasing scarcity of energy/fossil fuels - notice the gasoline price now) we cannot have economic growth. Therefore fractional reserve banking is not even viable anymore because it can only exist under a growing economy.

We are having and will be having (until another cheap source of energy is found) a CONTRACTING economy. This word is not even used by our leaders because they know it will freak out the markets and the public.

continued on next comment!

Mansoor H. Khan said...

But at this point in world timeline energy (read fossil fuels) is the real MULA. Bit coins, paper money, bank deposits or gold bars is just a way of trading and allocating this thing (fossil fuels) globally and locally.

We will have mad max if FRB is not given up. At this point we don't have a choice but to have simple 100% reserve currency. Even with this change a much, much global chaos will ensue because most bonds will become worthless. I expect stocks to fall by 90% when change of banking methodology is announced (within a few years).

We will have 100 years of change in a few years that's how big this thing is! Our entire psychology of growth and consumerism has to die and another way of thinking about the universe will be born (actually, inshallah, we will return to the old mental model of god->creation->prophets->day of judgement -> heaven or hell.

where:

Heaven = Retirement and Fun.

Earth = Scarcity, Patience and Perseverance and Bowing down to our creator.

Godless way of life is going out the window with fossil fuel depletion (for most people) because stuff we are used to having aplenty will be much more scarce.

Cyprus is the tip of the ice berg. This kind of stuff is soon to become global (no one will spared). dude, fasten your seat belt and pray!

chow


Mansoor H. Khan

Mansoor H. Khan said...

Another comment:

When the SHTF (global banking system collapse) I expect many, many, many rich people all over the globe to commit suicide and some middle class people will commit suicide.

I am praying the rest of will develop faith and love of god in our hearts to endure the economic reset in our lives. Under conditions of scarcity faith becomes a survival advantage.

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment:

Humanity is in desperate need of Allah's help and Guidance at this point in time. Like I have said in my earlier comments on this article collapse of the global banking system looms large threatening global chaos and global starvation.

In my daily prayers five time a day I ask for the following from lord of the creation (Allah). I suggest all believers as for this from the creator of the universe for our (humnaity's) sake:

1) Oh Allah, give us guidance, give us hidayah (guidance in Arabic).

2) Oh Allah, protect our faith, protect our Eman (faith in Arabic) and protect our true beliefs and help us shed our false beliefs.

3) O Allah, forgive our sins, forgive our gunah (sin in Arabic).

4) O Allah, give us good health, give us shifah (good health in Arabic).

5) (translitration of Arabic) Rabbana Atina Fid dunya hasana wa fil akhirate hasanah wa qina Asabun nar. Translated: My lord (Allah) give me "good things" (hasnah) in this world and give me "good things" (hasanah) in the next world and save me from hellfire.

Some thoughts on Islam (my other blog):

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

mansoor h. khan says:
April 15, 2013 at 1:12 am
The main problem is that Fractional Reserve Banking is not viable anymore due no economic growth not even in its post war form with large doses of Keynesian stimuluses (read debt jublee).

Economic growth cannot happen because of the far too expensive crude oil.

Distribution of money via salary/wages is very dependent on money creation via FRB. Less FRB = Less Total Wages in the Economy.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Reply
JGordon says:
April 15, 2013 at 2:22 am
As Dmitry Orlov eloquently and mathematically demonstrated, any system premised upon exponential growth will eventually collapse at some point. This is inevitable since we live in a finite universe. That is true whether peak oil is here or not.

Although peak oil does speed up the process a bit. A tiny bit.

Reply
mansoor h. khan says:
April 15, 2013 at 4:31 am
True. All resources on earth are limited. But crude oil right now is the constraining one for economic growth. For the past 100 years or so “time” was the constraining resource.

Credit money could be issued and spent as long as it was “metered” to match the Industrial production process (read resource extraction process).

Mansoor Khan


Read more at http://www.nakedcapitalism.com/2013/04/europes-stark-choice-resignation-or-revolution.html#O9j8Y4UcSewQ3yWp.99

Mansoor H. Khan said...

Follow on comment to the last one:

R Foreman says:
April 15, 2013 at 5:17 am
..but if you have all the creature comforts you need or desire, including abundant food, then collapse is unnecessary.. you will become convinced of this via the re-education program if you desire to go that route. fighting over scrips of paper and ingots of metal is a choice, not a requirement any longer, as no local war-lords compel you to fight. decisions about state-sponsored violence are out of your hands. if you can hold onto your little pile of treasure then you may keep it.

Reply
mansoor h. khan says:
April 15, 2013 at 6:41 am
But if fossil fuels deplete at current rates (90% of our energy is from fossil fuels) and no “cheap” replacement energy source is found fast enough (like cold fusion) then abundance will turn into scarcity!

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/04/europes-stark-choice-resignation-or-revolution.html#8ER0hDBgBFfklejv.99

Mansoor H. Khan said...

another follow on:

mansoor h. khan says:
April 15, 2013 at 6:41 am
But if fossil fuels deplete at current rates (90% of our energy is from fossil fuels) and no “cheap” replacement energy source is found fast enough (like cold fusion) then abundance will turn into scarcity!

Mansoor H. Khan

Reply
mansoor h. khan says:
April 15, 2013 at 6:47 am
However, I agree collapse is unnecessary.

All we need to do is give up this most extreme form of “usury” we have been practicing (i.e., interest bearing debt based currency issuance).

But even if usury is given up (and a system of resource allocation based on “social credit” ideas of economist Clifford H. Douglas are implemented) most debt will very likely be worthless and most equities will be nominally worth much less they are now.

Mansoor h. Khan


Read more at http://www.nakedcapitalism.com/2013/04/europes-stark-choice-resignation-or-revolution.html#WaVF3pzrmeTE9Xrr.99

Mansoor H. Khan said...

A comment I left on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#comment-1255255

mansoor h khan says:
May 19, 2013 at 9:55 am
Skippy,

Throughout history elites in all societies have always worked to preserve and maintain social stability. They know war and chaos is very risky and will probably end their good life eventually.

Are our elites that stupid? Why would they not have some balance in society to avert war and chaos?

more at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

mansoor h. khan

Reply
JGordon says:
May 19, 2013 at 10:30 am
We would elites support Monstanto and nuclear power, things that have the potential of wiping out all life on earth, including that of the elites?

The obvious answer of course is that they are not stupid, but psychotic. If you look at it from that perspective, then everything the elites do makes perfect sense.


Read more at http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#48DOq7yfO2QgW8Ya.99

Mansoor H. Khan said...

A comment I left on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#comment-1255741

mansoor h khan says:
May 19, 2013 at 8:22 pm
Nobody,

I think it was Plato who wrote that civilizations processes along this path:

Chaos -> Monarchy -> Aristocracy -> Democracy -> Collapse -> Chaos

To the above model I think we should add:

Chaos leads to quest/hunger for spirituality and search for god because life is so much more difficult in chaos.

As religious beliefs consolidate with time social order and stability grows, scientific knowledge grows, cooperation grows, specialization grows and a flourishing new civilization is born–>

Then:

The once a civilization grows powerful: Faithlessness grows, selfishness increases and corruption and cheating increase leading to collapse/Chaos again!

This is similar to what Spengler wrote in Decline of the West, http://en.wikipedia.org/wiki/Oswald_Spengler.

That is why I believe spirituality will come back in full force post collapse (inshallah).

Reply
banger says:
May 19, 2013 at 10:58 pm
Yes, because in this particular time there is no other way open to the future–every other door is closed. Strictly materialist values will not enable humans to deal with climate change–only understanding how things are connected will enable us to deal with the large-scale problems we face. Wonderful to know that there are others posting who understand this.

Reply
mansoor h khan says:
May 19, 2013 at 11:11 pm
All religions think this way! They emphasize our connectedness and individuality (and not just our individuality as the western society has become, much too left brain oriented):

Left Brain:

1. Logical and Rational and Detailed Oriented
2. Helps us to deal with the material world (hunger, need for water, shelter, sex, etc.)
3. Embodies Discipline (the goods and services production process, the Judicial System, the Military)
4. Embodies physics and physical laws
5. Uses strict hierarchy
6. This is the focus of the old testament (eye for an eye!)
7. Symbolized by the Roman Empire and focus of Greek thought
8. Symbolized by the state (as opposed to the individual!)
9. Embodies submission and compliance (Opposite of freedom!)
10. Cold, strict and impersonal (opposite of warm, flexible and forgiving!)
11. Focuses on this life (as opposed to a possible after life!)
12. Has a difficult time with coming up with new models or theories or ways of solving problems
13. The left brain will take a civilization over a cliff when the civilization encounters a problem requiring adjustment to the models executing (like a computer executes code) in the left brain if not restrained by the more “flexible” right brain

Right Brain:

1. Creative and Imaginative and Artistic and is able to have higher order logic and higher order rationality (dealing with the whole picture).
2. Able to come up with fresh approaches, new models and new theories and new ways of thinking about the natural world
3. Embodies emotion (love and hate), falling in love, patriotism, empathy, motivation
4. Is able to increase the spirit, the desire to live, the desire to fight, the desire to carry on
5. Is able to conceive of infinity (in time and space) and even in power (able to conceive omnipotence)
6. Wants to procreate (one way to defeat death in a sense!)
7. This is the focus of the New Testament (mercy, love and forgiveness!)
8. Symbolized by the Persian Empire and focus of much of eastern thought
9. Focuses on the individual and freedom of the individual
10. Is in control of person’s free will
11. Is able to conceive of and focus on after life

I will go a step further and say that:

It is the right brain which guides and teaches the left brain. But left helps to keep the right nourished and healthy on the physical level.


Read more at http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#48DOq7yfO2QgW8Ya.99

Mansoor H. Khan said...

Made this comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#comment-1256067

nonclassical says:
May 20, 2013 at 2:50 am
Mansoor,

Jidda Krishnamurti-”Religion has been given thousands of years to cure man’s ills-should we give it thousands more?”

Reply
mansoor h khan says:
May 20, 2013 at 5:17 am
Dude,

It is a built-in cycle in the creation by God (the creator) to keep reminding people who is BOSS. Today’s man thinks he is boss and that is the main problem.

True Belief in God and Afterlife = Promotion and Practice of Good Values in this Life including fighting and struggling for fairness and balance in society

Lack of true Belief in God and Afterlife = Eventual Collapse, Chaos, Famine and Search for God by those who survive, at this point faith becomes a survival advantage because it is far too painful to live just for joys of this life

This is nothing new. Read Oswald Spengler. All religions teach this!

mansoor h. khan


Read more at http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#cBhciSbOGMy25cre.99

Mansoor H. Khan said...

A comment I posted on a Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#comment-1256067


nonclassical says:
May 20, 2013 at 2:50 am
Mansoor,

Jidda Krishnamurti-”Religion has been given thousands of years to cure man’s ills-should we give it thousands more?”

Reply
• mansoor h khan says:
May 20, 2013 at 5:17 am
Dude,

It is a built-in cycle in the creation by God (the creator) to keep reminding people who is BOSS. Today’s man thinks he is boss and that is the main problem.

True Belief in God and Afterlife = Promotion and Practice of Good Values in this Life including fighting and struggling for fairness and balance in society

Lack of true Belief in God and Afterlife = Eventual Collapse, Chaos, Famine and Search for God by those who survive, at this point faith becomes a survival advantage because it is far too painful to live just for joys of this life

This is nothing new. Read Oswald Spengler. All religions teach this!

mansoor h. khan


Read more at http://www.nakedcapitalism.com/2013/05/systemic-malfunctioning-of-the-labor-and-financial-markets.html#ppcmgPguvi1sDjvT.99

Mansoor H. Khan said...

Another comment on a Naked Capitalism blog post:

http://www.nakedcapitalism.com/2013/05/your-humble-blogger-speaks-on-the-melissa-harris-perry-show-about-apples-senate-hearing-corporate-tax-avoidance.html#comment-1269534

mansoor h khan says:
May 27, 2013 at 7:55 pm
Yves,

Taxation is unnecessary. It would be more productive to ask the rich to not spend too much and then their money in the bank simply represents a “score”. Which would motivate them and other wanna be rich to work harder and produce more!

Then the government can issue currency and just give it to the public without creating inflation.

Unspent money does not consume resources.

more at:

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

mansoor h. khan


Read more at http://www.nakedcapitalism.com/2013/05/your-humble-blogger-speaks-on-the-melissa-harris-perry-show-about-apples-senate-hearing-corporate-tax-avoidance.html#C3wmGvmC6Ymx0OFj.99

Mansoor H. Khan said...

Taxonomy/Rationality/Measurement

Mansoor H. Khan said...

Naked Capitalism blog:

http://www.nakedcapitalism.com/2013/06/leverage-versus-debt.html#comment-1275773

mansoor h khan says:
June 2, 2013 at 9:59 am
From Mexico:

Will someone please define capitalism before we start arguing about about?

The biggest issue with today’s global economic system is debt based currency issuance. This is what skews the “fruits” of capitalism so disproportionately. It literally turns “money” into a god.

debt based currency issuance (fractional reserve banking) also compels us to seek economic growth any ANY cost since the entire global banking system will collapse with increasing currency supply.

This problem was resolved by Clifford H. Douglas in his “Social Credit” ideas.

see more at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

mansooor h. khan


Read more at http://www.nakedcapitalism.com/2013/06/leverage-versus-debt.html#zcDq7E8UoPAIbpZP.99

Mansoor H. Khan said...

Another Comment:

http://www.nakedcapitalism.com/2013/06/leverage-versus-debt.html#comment-1275784

mansoor h khan says:
June 2, 2013 at 10:17 am
Hmmm,

You guys are pretty depressing!

So Is there no practical/viable/implementable/doable better way forward?

Are we truly screwed? What keeps us wanting to live from one day to the next? hunger? pain? What keeps us pro-creating? are having kids just accidents?

Why then are humans so creative (art, science, engineering, literature, etc.)?

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/leverage-versus-debt.html#5Y9IbSzZKmi3uiQj.99

Mansoor H. Khan said...

Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/mr-markets-temper-tantrum-over-fed-tapering-talk.html#comment-1282101

mansoor h khan says:
June 7, 2013 at 10:01 pm
Jake chase,

It is not that bad!

All elites in history have known that in order to have a kingdom (slaves) there must be peace, security and rule of law most of the time. Slaves do need to be fed and trained to work and slaves do need to be in decent mental health state to run the operations of a farm, factory, government or a military.

I suspect that once the infighting (among the elites) is done/resolved the elites will come around and reset our expectations about economic growth and tell us about the reduced rate of material production we will have to live with in the future.

Yes. It is not a guarantee. The Roman empire did collapse. But our elites have the benefit of hindsight to learn from such collapses.

I would like to see stringent conservation of fossil fuels moving forward with much reduced fossil fuel footprint (read: much lower consumption levels) by the rich and even by the middle class.

We should levy a fossil fuel sales tax to tax all consumption and give more to the lower middle class and the poor.

The ranks of the poor will definitely swell. I expect the number of people on Food Stamps to go from 48 million to over a 100 million in the next 10 years.

We CAN run a low grade fossil fuel based industrial civilization for a very long time if we implement stringent conservation now. By low grade I mean we cut out almost all activities which require fossil fuel but are not necessary for survival.

Mansoor H. Khan

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html


Read more at http://www.nakedcapitalism.com/2013/06/mr-markets-temper-tantrum-over-fed-tapering-talk.html#zc1ouHxqRvfJ5Wc3.99

Mansoor H. Khan said...

A Comment I made on the economic undertow blog:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22662


It may not be necessary to be profoundly self-sufficient. Keep in mind, Pakistan is a lot poorer, more violent and disordered that America. Nevertheless, there is mains- electricity, motor vehicles, telephone and TV, modern hotels, A/C, restaurants, running water and toilets — some with heated toilet seats — jet fighters, in Pakistan. Ditto other 3d world countries: there is enough credit flow to the modern parts to keep the rest functioning. There is a long way to go before apocalyptic ‘collapse’.

Of course, if the gas stations are out of gas it will seem like we have collapsed.

Reply ↓

mansoor h khan
on June 7, 2013 at 11:38 pm said:
Steve,

Funny how you mentioned Pakistan in the above comment. I am a Pakistani Immigrant to the United States living here (in the U.S.) since 1976. You are correct about what you said based on my experience of Pakistani life.

I really admire your insights! I think you are a one brilliant dude. Man, you see a lot very clearly.

I disagree with you about sudden collapse. I think sudden collapse is very much possible if usury (debt base money) is NOT abandoned. Eventually, checks will stop clearing and people will not trust each other and supply chains will breakdown (suddenly).

On a separate note I have been thinking about your comment on naked capitalism long, long time ago (2 to 3 years ago) about how “neither the bible nor the quran discuss the subject of machines”.

As you probably know faithlessness has gone hand in hand with industrialization (and the associated incredible increasing in material well being). Now I know (at least partially) why Allah did not grant heaven/paradise to humanity at the onset of creation.

There would be no reason for humanity to think hard, to suffer, to strive, to learn “why” of things, to get to know the creator or even to truly know what the creator has given to humanity (in terms of talent, skills, knowledge, thinking powers and creative powers).

I have written more on my other blog if you care to learn more:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Also, there is a hadith/tradition of the Prophet Mohammad (PBUH) which says that the plain of Arafat (where climax of the Hajj rites takes place in near Mecca) will be a lush garden one day (it is a desolate dessert right now).

This hadith basically tells me that one day a cheap source of energy will be found by mankind (something like cold fusion) someday (although I don’t expect it in my lifetime or my kids lifetime).

Turning the desert of Arafat into a lush garden is not possible without very cheap source of energy to de-salinate lots and lots of water to gardenize Arafat.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/the-jobs-report-covering-may-2013-about-as-good-as-it-is-going-to-get-and-still-too-insufficient-by-far.html#comment-1282844

mansoor h khan says:
June 8, 2013 at 3:58 pm
Susan the other:

you are on the right track ala MMT and Social Credit ideas of economist Clifford H. Douglas.

Setup a people’s central bank (nationalize the FED) and:

debit Social_Capital_Account
Credit citizen’s_bank_Account

1) ban private credit creation (per F.Beard’s plan/scheme) by private banks including shadow banks (non-member banks), start by removing federal deposit insurance protection and a a law with lots of teeth to ban usury (especially mis-matched maturity lending)

2) keep doing this until inflation ensues

3) if inflation ensues (most likely it will due to Peak Oil/Peak fossil fuels) then curb high spender’s consumption by a high consumption tax (not an income tax)

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/the-jobs-report-covering-may-2013-about-as-good-as-it-is-going-to-get-and-still-too-insufficient-by-far.html#5EU4rMAh1EvmqeaJ.99

Mansoor H. Khan said...

A comment I made on Rodger Malcolm Mitchelll's blogpost:

http://mythfighter.com/2013/06/08/i-admire-the-daily-bell-and-its-publisher-anthony-wile-but-why-did-he-publish-such-idiocy/comment-page-1/#comment-64403

Mansoor H. Khan says:
June 8, 2013 at 5:44 pm
Rodger,
Most people have trouble with “more is better” when it comes to money/currency supply because most economists advocating increased spending via federal government money printing don’t explain that says law, which most people implicitly believe, is NOT true.
Most people (the 99%) think that money printing is trying to “get something for nothing”.You spend a ton of time complaining about 1% enslaving the 99% via false beliefs in “federal debt is bad” and false “inflation” demons.
Please spend more time teaching the 99% the how process of increasing the currency/supply and spending it and how it interacts with the goods and services production process in the economy and does not necessarily have to create inflation and in fact may help to avert deflation.
Most non-economists (the 99%) think deflation is a good thing because prices go down.

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on a Rodger Mitchell Malcolm's blogpost:

http://mythfighter.com/2013/06/08/i-admire-the-daily-bell-and-its-publisher-anthony-wile-but-why-did-he-publish-such-idiocy/comment-page-1/#comment-64737

Rodger Malcolm Mitchell says:
June 9, 2013 at 7:57 am
Actually, very few inflations are caused by “over-printing.” Usually, over-printing is caused by inflations. Weimar was a result of onerous punishments put on Germany by the victorious Allies.

The typical process is:
1. Something bad happens — physical or financial disaster of some sort — to a monetarily non-sovereign nation (i.e. a nation linking its money to gold or another currency.
2. The economy falters
3. Trying to save the economy, the government prints paper.
4. The economy continues to sink, so the government prints more paper, in an endless downward helix.

Remember, Weimar lasted only three years, after which Germany “printed” enough money to build the greatest war machine the world had ever known.

0 0 Rate This
Reply
Mansoor H. Khan says:
Your comment is awaiting moderation.
June 9, 2013 at 9:10 am
Rodger,

The international banking cartel also plays a major role in a collapse of a currency.

more at:

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

Mansoor H. Khan

Mansoor H. Khan said...

Another comment on a Rodger Malcolm Mitchell's blogpost:

http://mythfighter.com/2013/06/08/i-admire-the-daily-bell-and-its-publisher-anthony-wile-but-why-did-he-publish-such-idiocy/comment-page-1/#comment-64761

June 9, 2013 at 9:31 am
Mark Said:

“Both delusions keep the peasants enslaved.”

Exactly. The best way to enslave someone is not via “ball and chains” but by keeping them “stupid”.

The method of intellectual slavery has been used for thousands of years by priests to keep the masses serving a small minority (i.e.,the priests) at the expense of the majority.

The “priests” of the current aesthetic developed world are the international bankers and the creditor class they represent.

The “economics” departments in the developed world are their churches and politicians their “useful” idiots.

But (inshallah) their power will be broken as the lie of the usurers is laid bas been bare open by the internet. I consider the internet as the Gutenburg printing press 2.0. Just like the power of the Church was broken by the Gutenburg Bible and other thoughts which were spread by books the power of the international banking cartel will be broken by the internet.

more at:

http://aquinums-razor.blogspot.com/2011/02/modern-world-view-and-financial-crises.html

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Khan

Mansoor H. Khan said...

Another comment on a Rodger Malcolm Mitchell's blogpost:

http://mythfighter.com/2013/06/08/i-admire-the-daily-bell-and-its-publisher-anthony-wile-but-why-did-he-publish-such-idiocy/comment-page-1/#comment-64794

June 9, 2013 at 12:39 pm
As a further clarification I’d say legal and real are very different. Anything real has natural existence while legal can be a belief like the tooth fairy. Legal ” ink and words on paper” are real, but the “reality” of, say, ownership or monetary value are not. We own nothing. It all belongs to Nature or God or the Universe. Money is without real value, only legal value. Yes it’s backed by taxes, but taxes are legal also and therefore unrealistic. Fruit have Vitamin C. Gold is a great electrical conductor. Money is has no real backing, i.e., unscientifically designed and must eventually fail by some means painful or otherwise and be replaced by something that works for all….. ie, reality.
0 0 Rate This
Reply
Mansoor H. Khan says:
Your comment is awaiting moderation.
June 9, 2013 at 4:36 pm
A better way to put it is:

Money is a social arrangement involving laws, people and productive capacity of the economy and people’s trust and confidence in the currency issuer. If the public does not use a particular currency it cannot work and will be abandoned.

All social arrangements are complex and abstract (they cannot be touched) but they are real. Not just atomic things (things) are real. But relationships are real too and have real consequences in the physical world around us.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Caplitalism blogpost:

http://www.nakedcapitalism.com/2013/06/sheila-bair-everything-the-imf-wanted-to-know-about-financial-regulation-and-wasnt-afraid-to-ask.html#comment-1283873

mansoor h khan says:
June 9, 2013 at 6:08 pm
ChrisPacific,

We should outlaw usury (any dealing in interest) just like the bible and quran suggest.

Mis-matched maturity lending increases the currency supply and therefore steals from the public. Sudden collapse of a mis-matched lender causes deflation which needs to be dealt with but yes the mis-matched lender should be allowed to fail as punishment.

But even matched lenders over time will cause currency to accumulate to them if they are real smart and go after “deadbeat” borrowers with sufficient vigor and bankruptcy laws exist which aid them.

This will still lead to removal of currency from the economy and it will accumulate in the hands of few leading to deflation. Which the government can deal with by simply printing more money and handing it out to the public.

When the lord (the CEO of the universe) forbids something to humanity the complete wisdom of (goodness in and reason for) the commandment is not known to humanity. But over time humanity does figure out part of the wisdom via experience and failures.

Before this is over (global banking system collapse) everybody and their mother will know the wisdom of (at least partially) biblical and quranic prohibition against dealing in interest.

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/sheila-bair-everything-the-imf-wanted-to-know-about-financial-regulation-and-wasnt-afraid-to-ask.html#ItReO0hYK8DedevH.99

Mansoor H. Khan said...

A Comment I made on the Economic Undersow Blogpost:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22765

enicar666@gmail.com on June 9, 2013 at 9:08 pm said:
After all, we haven’t blown ourselves up with nuclear bombs, we are doing something right.

Well, yeah Steve, but then I started reading ENE NEWS. and then I realized that the bombs didn’t need to be detonated to destroy the Planet.

Perhaps it is my age that makes the message clearer. Perhaps the alcohol has opened my mind to other dimensions. But this isn’t good. I know I have seen the link on your site – earlier – but I didn’t “get it” then. Now I’m “getting it” and wish I didn’t.

Julius Robert Oppenheimer[note 1] (April 22, 1904 – February 18, 1967)[1] was an American theoretical physicist and professor of physics at the University of California, Berkeley. Along with Enrico Fermi,[2][3] he is often called the “father of the atomic bomb” for his role in the Manhattan Project, the World War II project that developed the first nuclear weapons.[4] The first atomic bomb was detonated on July 16, 1945, in the Trinity test in New Mexico; Oppenheimer remarked later that it brought to mind words from the Bhagavad Gita: “Now I am become Death, the destroyer of worlds”.

As so I think it shall be. Silent death from horrors unseen.

Reply ↓

mansoor h khan
on June 9, 2013 at 9:57 pm said:
Yes. This is true. Shiva is the destroyers god.

But the reason he/she destroys is to make room for a new beginning which Brahma (the creator god) initiates and the game starts again.

Hindu scriptures talk about men fighting with huge balls of fire and destroying whole civilizations. Some people interpret this as nuclear-like technology which men possessed thousands of years ago in a technologically advanced civilization similar to ours but destroyed themselves in a war.

According to Hinduism this world is a gymnasium for souls to try out things and learn and grow spiritually. According to Hinduism souls do not die but are reborn to keep learning until they merge back into Brahma (the creator god) from whom they emerged.

The cycle may take eons. Each eon can be very long as described by the following parable:

If a bird with a scarf in its beak touches/softly brushes the scarf to the mountains of Himalayas once very 1000 years then when by this process the Himalayas have turned into plains one eon of the universe will have passed!

Mansoor H. KHan

Mansoor H. Khan said...

A comment on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/links-6913.html#comment-1284114

mansoor h khan says:
June 9, 2013 at 10:53 pm
MyLessThanPrimeBeef,

It is not that important who owns the wealth. What matters is who gets the income.

Most Income (actual goods and services created) needed to/should be spread throughout the general population in order to maintain social stability and a just society (Justice = Balance = Social Stability, Injustice = Imbalance = Choas/War/Crime).

Social Credit (instead of debt based credit) can achieve this balance without actual ownership of the income production asset.

Economist Clifford H. Douglas figured this in 1924.

More at:

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/links-6913.html#G2CwjXi0G9DlccV5.99

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/links-6913.html#comment-1284123

curlydan says:
June 9, 2013 at 12:29 pm
Hoping this is not a repost.

I think everyone should push back on the term “meta-data”. The “cool kids” at the NSA making $100+/hr are analyzing this “meta data” while the $20-$30/hr translators are looking at the “voice data”.

If someone gives me a data set full of voice data or text, I think “oh God, this is gonna be a chore” and probably a worthless one at that. If someone hands me a multi-million row dataset full of numbers, locations, etc., then I start drooling. It’s the innocuously sounding “meta data” where the power is. From a pure data analysis perspective, it’s kick ass data. Don’t let them tell you it’s anything less.

Reply
Lambert Strether says:
June 9, 2013 at 1:13 pm
Well said.

mansoor h khan says:

June 9, 2013 at 11:13 pm

Think of it as a Keynesian stimulus. Same can be said for Iraq and AfPak wars. Keynsian Stimulus = Social Credit gone awry.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/links-6913.html#BjHkvAXEGKI1bQdT.99

Mansoor H. Khan said...

A comment I made on the economic undertow blogpost:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22776


enicar666@gmail.com
on June 9, 2013 at 10:45 pm said:
Dark Mission: The Secret History of NASA

And so we live out our lives in the dying remnants of an ancient and advanced civilization that ended in a cosmic war. Star Wars – it’s not fiction – it’s history.

The scarred surface of Mars bears testimony to the power of a scaler weapon that blew Tiamet apart from the inside and Mars went from a Moon to a Planet.

Apollo 17′s December 07-19 1972 voyage to the moon was the crowning glory and finishing point of our entire manned lunar exploration program. The site chosen for this greatest and longest of all Apollo adventures was a small valley located in the Taurus-Littrow highlands. Because of the numerous towering massifs which rise on nearly all sides of this site 2000 to 2500 meters, it was also the most dangerous landing of the Apollo program.

Reply ↓

mansoor h khan
on June 10, 2013 at 12:05 am said:
Yes but did you get my point?

We never really die. Our soul Just keeps learning. And eventually become god or get very close to him (depending on what do you want “to be sugar” or “just taste the sugar” , sugar = god = brahma). This according to Hinduism.

According to Islam (which is what I believe in) yes we keep learning even in heaven (for eternity) but Allah is always infinitely far (closer but still infinitely far).

There is (ultimately) only one rule in the universe (according to Islam).

The rule is that there is only one god (Allah) and none of us created souls can ever become him! But we can make it to heaven and rid ourselves of suffering and eat, drink, screw and be merry for eternity.

mansoor h. khan

Mansoor H. Khan said...

A comment I made on economic understow blogpost:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22822

mansoor h khan
on June 10, 2013 at 7:38 pm said:
Dopamine,

Yes but the evolution of life on earth has been going opposite of increasing entropy. Life has been becoming more and more complex for hundreds of millions of years. Not just a little bit but a stupendous amount (simple one-celled organisms to primates!).

Why?

There is more to this story of low entropy universe just increasing its entropy as time marches on. Life on earth is defying the arrow of overall entropy and thumbing its nose on to the rest of the universe.

Mansoor H Khan

Mansoor H. Khan said...

A comment I made on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285452

igor says:
June 11, 2013 at 1:21 am
Economics is a pseudo-science. It looks like science with math, and graphics, and peer-review journals, etc, etc,

- but in reality it’s a BS. Cargo-cult “science”. (pls google “Feynman cargo cult”)

It’s reason to exist: people need those kind of questions to be answered – and a hordes of “economists”, smelling easy money, jump in with “answers”.

Also, “economists” serve as propagandists, keeping the unwashed masses under control of the powers that be.

(You don’t like your job’s going to “china”?! Ooh, you don’t understand! The economics SCIENCE says it’s ok! Are you against SCIENCE?! Are you against NOBEL LAUREATES?! … etc…)

Reply
mansoor h khan says:
June 11, 2013 at 5:51 am
Not completely true. There is plenty of hope based world history.

Social Credit Ideas of economist Clifford H. Douglas are incredibly aware of our connectedness. His ideas were very much discussed and debated and were in vogue in the first half of the last century. I believe a few of the American presidents even tried to implement them (FDR? Nixon) via a guaranteed income social dividend for all citizens.

Yes I agree today economics has been co-opted by the creditor class and banksters.

Money is simple. Bankers have made it complicated because it benefits them dis-proportionately to their contribution to society to keep the usurious system in place.

The world’s Banking Cartel is equivalent of the modern day corrupt Church of the middle ages which had to be fought and reined in by the protestants and others. But eventually people did bring down to its knees. The Church of the middle ages was just as powerful as the international bankers and their creditor class supports are today.

The Churche’s power was broken because of the Gutenberg printing press. People started reading and interpreting the bible themselves instead of relying on the priests.

The only way to fight falsehood (the lie of the usurers in this case) is by spreading and teaching the truth to the general public and this is a painstakingly slow process.

Inshallah the power of the Global banking cartel will be broken I estimate in the next five to ten years because of Gutenberg printing press version 2 (the internet).

The cartel is unable to control the information flow on the net and is screwed and knows it. I pray to Allah I will (god willing) see this beast slaughtered before I die. Truth is always victorious (a common hindu saying usually stated in Sanskrit).

more at:

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#XVsgvwBeEKSV3KDp.99

Mansoor H. Khan said...

A comment I made on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285459

David Lentini says:
June 11, 2013 at 6:07 am
I agree—the diagnosis is quite frank and fair; the answer is absurd, and dangerously close to asking the public to treat economics as a religion.

Smith plays the same game that all charlatans and cranks play: Believe me and put faith in my advice, but don’t blame me when I’m obviously wrong. Once we pull the curtain back to see the little man, they cry “Don’t blame me! I’m just a little man!”

The real problem, which you mention and Smith tactfully ignores, is that econmists have built themselves into powerful policymakers and advisers, precisely because they argue that economics is as reliable and prdictive a science as physics or chemistry. Now that it’s painfully clear they’ve lied and quibbled about their status, they want to now tell us not to hold them accountable becuase, well, economics really isn’t science after all.

Frankly, lots of academic disciplines, even truly scientific disciplines, are focused on phenomina so complex they can only make crude and unreliable models. The difference is they don’t dominate our policy discussions, courts, and business education.

I don’t care if economists happily practice their intellectual onanism in the privary of their offices, classrooms, and seminars. But they can’t bring that to the public in the guise of solutions to our problems.

The answer which Smith again ignores, is simple:

(1) Publicly declare economcis a non-science, or a science-in-development, aking to chemistry before Boyle and Laviosier or physics before Newton;

(2) Remove economists from policymaking bodies;

(3) Stop printing and broadcasing the opinions of economists so frequently;

(4) Insist that all predictions and pronouncements from econmists include a full disclosure of the assumptions and limitataions of the model(s) used.

In short, it’s time to a short leash in these ninnies.

And one more thing. I think it’s time to revisit just what “intelligence” is and who is really “intelligent”. The inability to recognize failure, no matter how good you are at math, is, in my opinion, a lack of intelligence. We need to stop making a fetish out of mathematics and start focuing on the ability of our students and teachers to deal wiht reality.

Smith’s article—as well as many other mea culpas from economsits— is troubling because he still clings to he idea that econmists are somehow “smart”. What’s smart about repeated failure? Is Smith really telling us that economists are knowingly misleading the public? Are econmists really psychopaths?

Reply
mansoor h khan says:
June 11, 2013 at 6:21 am
David,

“Publicly declare economcis a non-science, or a science-in-development, aking to chemistry before Boyle and Laviosier or physics before Newton;”

Who is going to do this? The president? He will be assassinated if he did to that. Ben Bernanke? He too will be assassinated if he did that by the most powerful force on the Planet the international banking cartel and creditor class (the usurers) they represent.

The only solution is spreading the truth. Teaching the public economics (by the way of Veblen, Keynes, Clifford H. Douglas) is the only way. Think of this task very much like how a new religion spreads like Christianity or Islam. It is very slow and painstaking process but the pain to come (a greater depression) will open people’s mind and the banksters will certainly try to stop the truth.

We need to teach the public:

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

http://aquinums-razor.blogspot.com/2011/08/what-is-relationship-of-money-to.html

http://aquinums-razor.blogspot.com/2010/11/modern-monetary-theory-there-is-another.html

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Kh

Mansoor H. Khan said...

Several Comments I made on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285600

mansoor h. khan says:

June 11, 2013 at 8:43 am

David,

If we can get some our leaders to start a sane discussion about economics that would be great. I am all for it.

(6) Should economics adopt a “Hippocratic Oath”, stating that any policy advice should be first weighed to do no or minimal harm to the public good?

To the above point I would add that we need to approach the design of our civilization’s institutions (and the global civilization’s institutions) keeping in mind the principles of justice and mercy.

Mansoor Khan

Reply
David Lentini says:
June 11, 2013 at 9:46 am
Amen! :-)

mansoor h. khan says:
June 11, 2013 at 10:08 am
Amin (the islamic version)!

diptherio says:
June 11, 2013 at 8:58 am
I think a more elegant solution might be to just re-label economics–call it what it used to be called–a branch of Moral Philosophy.


Reply

mansoor h. khan says:

June 11, 2013 at 10:19 am

David,

The public will become much more interested in philosophy as we pass through a global economic collapse/chaos and probably a fossil fuel resource war.

I believe we are entering a greater depression (The Great Depression on steriods). The current worldview based on mean spirited caplitalism will be seriosly challenged (inshallah).

mansoor h. khan

Reply
mansoor h. khan says:
June 11, 2013 at 10:28 am
I forgot to mention Chaos/collapse to come not only due to the global banking collapse, fossil fuel depletion but also climate change/global warning.

All worldviews will be very seriously challenged. In a sense it is the survival of the fittest (the fittest worldview that is). The worldview which is most able to deal with crazyness/chaos to come will not only survive but it will thrive.

Mansoor H. Khan

F. Beard says:
June 11, 2013 at 2:24 pm
I forgot to mention Chaos/collapse to come not only due to the global banking collapse, fossil fuel depletion but also climate change/global warning. mansoor h. khan

And in doing so, you go too far. ALL things are possible for God but providing for our mere material needs, especially so. The human heart? There’s the difficulty.

mansoor h. khan says:
June 11, 2013 at 2:46 pm
F.Beard said:

“And in doing so, you go too far.”

I think you mean my prediction about a global banking collapse. To me that is more science than a prediction.

Banking collapses due to usury have been happening for thousands of years. This is due to divergence of compound math vs. physics (the ability to create goods and services).

I explain my logic here:

http://aquinums-razor.blogspot.com/2010/07/why-is-deflation-and-depression.html

mansoor h. khan


Reply

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

Carolinian says:

June 11, 2013 at 9:00 am
Every ruling class needs its priesthood. Whereas once they ruled through “divine right,” now they are backed by a quasi-religious faith in “markets.” The intellectual classes have always played a leading role in flattering and justifying the actions of their patrons.

Reply
mansoor h. khan says:
June 11, 2013 at 9:12 am
Carolinian,

You are on the right track. Now go to the next logical thought you should be having in your mind.

So what to do about it?

I think we all know what to do about it. It is to awaken the people around us to the bullshit perperated on us by the morons among our midst!

But of course we know in our hearts that the bullshit keeps returing and happening and the people keep suffering and sometimes fighting back. Therein lies the purpose of human life. Yes. It is to fight. Fight the bullshit to the last dying breath.

I know this is not what you wanted to hear. But this my conslusion of reality.

Mansoor H. Khan

Justicia says:
June 11, 2013 at 10:37 am
I agree with Mansoor’s program. Each of us can be an avatar of the light by sharing our critical insights with colleagues, friends and family — expose the false prophets:
“What did [fill in the economist] say yesterday about the crisis we’re in today?”

The current depression and unfolding environmental crisis will help fracture the ediface by raising doubts and we can use these at every turn shatter theoeconomics.

Reply
mansoor h. khan says:
June 11, 2013 at 10:58 am
Justicia,

Alhumdolillah! — All praise belogn to Allah.

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285708

June 11, 2013 at 2:09 pm
We shouldn’t trust authority figures in general; I don’t think economics is a particularly awful profession.

Rather, it is the idea that should be considered, and those who make a habit of advancing good ideas should be considered more credible over time, and those doing the opposite, less credible.

Reply
Hugh says:
June 11, 2013 at 4:38 pm
The problem is that economists with bad ideas but who defend the status quo of the rich and elites get the money, the positions, and the attention of the government and the press while the rest of us are confined to the margins doing this stuff on our own. It’s not a meritocracy with good ideas floating to the top. It’s more an example of Gresham’s law applied to economic ideas.

Reply
mac says:
June 11, 2013 at 3:24 pm
These folks can find and mostly describe what happened, but not why and what will happen is as always a mystery.

Reply
mansoor h. khan says:
June 11, 2013 at 4:37 pm
mac,

Not always a mystery. Natural Sciences are very good at predicting some things.

Professionals in all fields use patterns and principles (mental models) to solve problems and manage their respective domains of activity. Generally getting a good result. If they did not they would be out of business.

These patterns and principles are learned in school and/or via experience.

History gives us a guide on patterns and principles (mental models leading to modes of behavior). Some modes of behavior and principles lead to a better result overall (ie., a more peaceful civilization) than others.

The overarching management principles we should follow is justice and mercy!

There are two sources of knowledge (principles and patterns):

1) Experience (Physics and history fall into this category)

2) Revelation: This one applies to Believers. If there is sufficient number of them in a community. This can actually work well.

Mansoor H. Khan

Mansoor H. Khan said...

A comment I made on a post on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285732

Justicia says:
June 11, 2013 at 10:37 am
I agree with Mansoor’s program. Each of us can be an avatar of the light by sharing our critical insights with colleagues, friends and family — expose the false prophets:
“What did [fill in the economist] say yesterday about the crisis we’re in today?”

The current depression and unfolding environmental crisis will help fracture the ediface by raising doubts and we can use these at every turn shatter theoeconomics.

Reply
mansoor h. khan says:
June 11, 2013 at 10:58 am
Justicia,

Alhumdolillah! — All praise belogn to Allah.

Mansoor H. Khan

Reply
Jimbo says:
June 11, 2013 at 11:56 pm
No Allah, no way.

http://www.vosizneias.com/wp-content/uploads/2009/03/muslim-213×300.jpg

Reply
mansoor h. khan says:
June 12, 2013 at 8:59 am
“Dominate the World”

Yes. Spiritually and in Worldview sense. And maybe even politically at times.

Mansoor H. Khan

Mansoor H. Khan said...

A comment I made on a Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1285768

F. Beard says:
June 11, 2013 at 11:11 am
Predict the future? Why? So we can abuse the present? Do we think God will allow Himself to be mocked? Or will He resist the proud (James 4:6) and thwart their predictions*? Why not instead do what is right today and let the future take care of itself?

We know the money system is inherently unjust and inherently unstable, dangerously so. What kind of foundation is that for peace and progress? Yet many think TINA. How cynical is that?

But here’s a prediction:

Say to the righteous that it will go well with them, for they will eat the fruit of their actions. Isaiah 3:10

*I know this from 20 years of stubborn persistence trying to predict the future anyway.

Reply
mansoor h. khan says:
June 11, 2013 at 11:23 am
F. Beard,

I apologize if I sound like I am predicting the future.

But my religion encourages me to think about consequences of the behaviors of people around me (Like mean spirited capitalism we practice, practice of usury, fossil fuel depletion, climate change, etc.) and try to address the issues.

Stern warning of logically highly probable consequences of bad behavior is not predicting the future. That just being a good leader.

mansoor h. khan

Reply
mansoor h. khan says:

June 11, 2013 at 1:17 pm

Also, the comment about “seeing the end of the cartel before I die” is a prayer (a request to Allah) and not a prediction. As you (a practicing christian) surely know that lord can make it happen whenever he wants to.

I am 50 years old and I have asked Allah to give me death at the age of 63 because Prophet Mohmmad (PBUH) died at the age of 63.

Mansoor H. Khan

Mansoor H. Khan said...

A comment of Economic Undertow blog:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22772

enicar666@gmail.com
on June 9, 2013 at 10:45 pm said:
Dark Mission: The Secret History of NASA

And so we live out our lives in the dying remnants of an ancient and advanced civilization that ended in a cosmic war. Star Wars – it’s not fiction – it’s history.

The scarred surface of Mars bears testimony to the power of a scaler weapon that blew Tiamet apart from the inside and Mars went from a Moon to a Planet.

Apollo 17′s December 07-19 1972 voyage to the moon was the crowning glory and finishing point of our entire manned lunar exploration program. The site chosen for this greatest and longest of all Apollo adventures was a small valley located in the Taurus-Littrow highlands. Because of the numerous towering massifs which rise on nearly all sides of this site 2000 to 2500 meters, it was also the most dangerous landing of the Apollo program.

Reply ↓

mansoor h khan
on June 10, 2013 at 12:05 am said:
Yes but did you get my point?

We never really die. Our soul Just keeps learning. And eventually become god or get very close to him (depending on what do you want “to be sugar” or “just taste the sugar” , sugar = god = brahma). This according to Hinduism.

According to Islam (which is what I believe in) yes we keep learning even in heaven (for eternity) but Allah is always infinitely far (closer but still infinitely far).

There is (ultimately) only one rule in the universe (according to Islam).

The rule is that there is only one god (Allah) and none of us created souls can ever become him! But we can make it to heaven and rid ourselves of suffering and eat, drink, screw and be merry for eternity.

mansoor h. khan

Reply ↓

enicar666@gmail.com
on June 10, 2013 at 12:29 am said:
I would have to give you Props!

[...]

Not an insult.

EDITED


steve from virginia
on June 10, 2013 at 11:39 am said:
Enicar, you are turning into a problem over here, if you can’t get a grip on your hostility you are going to permanently reside in the spam folder.

Leave off the other commenters … or else.


mansoor h khan
on June 10, 2013 at 12:44 am said:
Those who want to be guided will be guided (inshallah) as they pass through the collapse. Because he is Mercy.

No description of being thrown in “cold lake of water” equals the actual experience of being thrown in the “cold lake of water”.

Think about why christianity rose in the west post Roman Empire collapse. Do you think that was “accident”?

Collapse does have a purpose.

Mansoor H. Khan

Mansoor H. Khan said...
This comment has been removed by the author.
Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1286082

mansoor h. khan says:
June 11, 2013 at 2:46 pm
F.Beard said:

“And in doing so, you go too far.”

I think you mean my prediction about a global banking collapse. To me that is more science than a prediction.

Banking collapses due to usury have been happening for thousands of years. This is due to divergence of compound math vs. physics (the ability to create goods and services).

I explain my logic here:

http://aquinums-razor.blogspot.com/2010/07/why-is-deflation-and-depression.html

mansoor h. khan

F. Beard says:
June 12, 2013 at 9:21 pm
No. I mean your predictions of climate change and fossil fuel depletion.

mansoor h khan says:
June 13, 2013 at 7:46 pm
There is lots of consensus on these predictions:

Fossil fuel depletion articles:

http://www.economic-undertow.com/author/steveludlum/
http://kunstler.com/
http://www.theoildrum.com/

Climate Change:

Plenty of stuff at: http://en.wikipedia.org/wiki/Climate_change

mansoor h.khan

Mansoor H. Khan said...

Comment I made on a interesting blog:

http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/#comment-4074

Nadall PERMALINK
January 8, 2012 11:00 pm
0 0 Rate This
Mister Khan. I am wondering if what I keep hearing is true. It is said that Islam’s aim is to conquer (convert) the entire world for Allah, forcefully if necessary. Is this true?
Thank you. Please understand that I mean no disrespect what-so-ever. I seek only understanding.
REPLY

Mansoor H. Khan PERMALINK
January 8, 2012 11:44 pm
0 0 Rate This
Nadall,
Please understand that Islam has no official institution (church or state) or official/ordained clergy of any kind. Keepers of the islamic truth are muslims people themselves. There are no official truth keepers.
Also, I am not an islamic scholar and even islamic scholars only yield any influence arising out of respect (and hopefully they receive the respect because they have shown sound judgement over the years).
But I will give you my best intrepretation.
In the Quran and via the traditions of the prophet Allah commands the muslim to speak the truth and practice truth in their lives.
Islam’s goal is to conquer the world by conquering the heart by delivering the message via the word and via actions (Yes, I know muslims have not been doing a good job at this lately, with terrorism by muslims and everything). Conquering is to be done heart by heart.
But I don’t want to be dishonest. It is Quran’s vision to have muslims implement the sharia law worldwide in some shape or form as the people of each and specific country intrepret it and want it via a democtratic means (concensus is how the first leader of the muslims was selected after the death of Prophet Mohammad).
This means that when a country becomes majority muslim then those muslims do have the right (and even a responsibility in a sense) to implement the divine law (they will have to intrepret it of course since there is NO official intrepretion). And some of the law will impact non-muslims in that country (like prohibition against abortion, possibly harsh punishment for certain crimes, etc.).
There are things in the sharia which I do NOT believe should be implemented (like punishements for practicing homosexuality). If a democratic process is followed then I (and people like me muslims and non-muslims) will be able to influence what gets implemented and what does not get implemented.
The guidance is: Every human being muslim or non-muslim will be judged fairly by Allah on the day of judgement. We all must use our hearts and our concience when we intrepret or even when we apply a particular rule in the sharia. Allah promises to provide guidance in the heart and mind of those who seek it and want it whether they are muslim or non-muslim.
Salam.
mansoor h. khan
REPLY

Nadall PERMALINK
January 8, 2012 11:59 pm
0 0 Rate This
Thank you so much for your thoughtful reply. I truly appreciate it. I will study on this for a while. The only problem I see so far though, is that (fallen) humans will be doing the implementing. We seem to have made quite a mess of it so far. Jesus was/is wonderful, but look at Christianity. I’m pretty sure that I just plain don’t trust religions in general, no matter what variety. But again, I thank you for taking the time to answer. Blessings and peace to you, to us all.
REPLY

Mansoor H. Khan PERMALINK
January 9, 2012 12:26 am
0 0 Rate This
Nadall said,
“The only problem I see so far though, is that (fallen) humans will be doing the implementing.”
Any system can be abused and people have to suffer and figure out a way to fight it and change it.
Your real question should be why is god making us go through gyrations to get to heaven (at least islam teaches that allah is capable of anything and does not need anything or anyone).
The short answer (according to islam) is that he knows better and he gives us tests which good for us. Beyond that I don’t know why we must go through these gyrations.

mansoor h. khan

Mansoor H. Khan said...

A comment I made on the economic undertow blogpost:

http://www.economic-undertow.com/2013/06/03/buy-the-rumor-2/#comment-22998

mansoor h khan
on June 14, 2013 at 11:40 am said:
The Illusion of Time. Very Cool youtube talk!

Related to Entropy.

http://www.youtube.com/watch?v=NxuZnMEcGVY

Reply ↓

whiterabbit
on June 14, 2013 at 5:16 pm said:
dopamine is fixated on einstein science vs tesla science; others are fixated on some mid-east or some other dogma. entropy and the illusion of time are used by destroyers to manifest despair, and enslave worshipers… seek enlightenment beyond priests chanting all mumbo jumbo. there is no such thing as consensus science or enlightment. science or enlightment is a path only one soul may follow; seekers will find some truth without approval of the exalted masters. do not despair. “reality” will remain unknown always to those on this physical plane; seek happiness and it will find you.


mansoor h khan
on June 15, 2013 at 12:39 am said:
whiterabbit,

You said: “enslave worshipers”

Muslim worshipers are the most un-unslaved worshippers on the planet. That is their main problem. Muslims are constantly fighting each other and can’t get anything big done. They have a very, very hard time following any hierarchy and any authority.

Western civilization has it wrong, religion can enslave one or un-enslave one/empower one.

Western mind thinks very structured and very hierarchical. Which is of course very useful for running large organizations, creating stuff. Which why I live in the USA and like it.

Middle eastern and eastern (indian) thinking is much, much less hierarchical. In fact their are just two levels:

God —> Man

That is right. No priests, No Church, No hierarchy, No Government in their thoughts most of the time.

It is not that muslims equate church and state. In reality they neither accept church nor they the state. They are very, very suspicious of both and always ready to un-sheath the sword against either. That is why they can’t get anything big done!

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/why-you-should-stop-worrying-about-central-bank-losses.html#comment-1290336

Mansoor H. Khan says:
June 15, 2013 at 11:02 am
craazyman,

You are on the right track:

“only reality is cooperation in the physical world.”

Money is a social arrangement involving laws, people and productive capacity of the economy and people’s trust and confidence in the currency issuer. If the public does not use a particular currency it cannot work and will be abandoned.

All social arrangements are complex and abstract (they cannot be touched) but they are real. Not just atomic things (things) are real. But relationships are real too and have real consequences in the physical world around us.

Double Entry Accounting (Assets = Liabilities + Owner’s Equity) is a useful tool to manage reality and our economic affairs and our economic relationships.

We should not let the tool (Double Entry Accounting) manage us!

Fed balance sheet is very simple:

Asset Account (left side of the balance sheet) = Social Capital

Liability Account (right side of the balance sheet) = Monetary Units (i.e., FRNs issued).

Debit Social Capital
Credit FRNs issued

More at:

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment I made on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/the-party-is-over-children-clean-up-the-house-lessons-from-the-turkish-occupygezi.html#comment-1290482

Mansoor H. Khan says:
June 15, 2013 at 2:03 pm
As a practicing Muslim living in the U.S. since 1976 I have noticed that most westerners don’t understand one very basic aspect of Islam:

Islam is very non-hierarchical way of thinking about the universe. Below is the hierarchical model of a believing muslim:

Allah (God) —> Prophets —-> Me (the Muslim)

– notice no Church or State in this mental model anywhere!!!

It is often said that Islam does not separate church and state. It is more proper to think that Muslims don’t trust the church or the state much. There are plenty of mullah jokes in their everyday conversations with each other.

So who do they trust? The Prophets and their advice.

Islamic culture is a very verbal culture, very much aware of history, very aware of how the prophets lived, it is a argumentative culture and very belligerent and very non-conformist to any earthly institution. Muslims don’t accept authority easily and have a very hard time with hierarchical structures.

All institutions are suspect as it is assumed that they will all eventually come under the influence of evil men. And will have to fought. Church or State. The job of a muslim is to struggle and fight and clean up badness around him.

His retirement and fun is in heaven. This life is short and is a test. Quran teaches that a believer should rely on Allah and those close to Allah.

More at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/the-party-is-over-children-clean-up-the-house-lessons-from-the-turkish-occupygezi.html#comment-1290807

Frank_Goudreau says:
June 15, 2013 at 10:19 pm
And yet,Mansoor, almost all Muslim country are ruled by despotic regimes with, apparently, the support of the mosque crowd. If you are correct, (and I have my doubts),they may not like hierarchies but they sure as hell submit to them readily enough. Or is it that a mind conditioned by Islam is trained to submit – to anything or anyone with perceived authority. That is how it appears to me to be.

Reply
Mansoor H. Khan says:
June 15, 2013 at 11:12 pm
Islam has no “official” institutions. There are no keepers of the truth. No “official” hierarchy and no pope like figure or official clergy no “ordination” process of any kind. There is no “official” church or Mosque – not even close.

All institutions by the directive of Quran are subject to be disciplined by the sword including any clergy.

Mansoor H. Khan

Mansoor H. Khan said...

Comment I made on the Archdruid Report blogpost.

http://thearchdruidreport.blogspot.com/2013/06/a-question-of-values.html

JMG,

Thanks for reviewing my blogpost (http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html).

You said:

"the universe looks like something designed by a committee."

I have thought of that. But my conclusion is that the universe is about competing worldviews (i.e., religions) as opposed to competing races.

In a sense it is the survival of the fittest. The fittest religion (a way of thinking about nature and reality, a worldview) which will eventually win the hearts and minds of most people on earth (post collapse). I think it will be Islam for the reasons I have on my blog.

I see Islam as a worldview destroyer. It ravages indigenous worldviews where ever it goes and plants itself firmly rarely being overcome by another worldview for the it adoptees.

Islam has only failed/unplanted itself two places on earth (Spain and the Balkans). Everywhere it went it has been a resilient worldview for the inhabitants who adopted it (Persia, India, Turkey, Egypt, Malaysia, Central Asia, etc.)

Also, I believe that belief (faith) in afterlife and ultimate accounting/judgement and justice is a survival advantage against collapses in a Darwinian sense.

Salaam (Peace!)

Mansoor H. Khan

Mansoor H. Khan said...

Comment on Economic Undertow blogpost:

http://www.economic-undertow.com/2013/06/13/the-greatest-risk/#comment-23185

mansoor h khan
on June 17, 2013 at 9:54 pm said:
Dork,

Don’t think in terms of races (tribes) instead think in terms of worldviews. Most people in the developed world and most elite in the non-developed world follow the western worldview.

The western world view is atheistic and focuses on this world and this life here and now as opposed to a possible afterlife. This worldview is nothing new and was also common among the Roman elites but not so much among the Roman commoners/public.

This worldview is due to material abundance. To the best of my knowledge humanity has never achieved this level of material abundance that we have seen in the past 100 years to this scale providing material comforts and abundance for the common man. No wonder man feels like he is god.

With the coming reset the level of material abundance due to peak oil this will change too. I believe quest for larger meaning in one’s life and spirituality will return to humans as life (materially) will be much more difficult and much less secure and it will be difficult to live for joys of this life only.

Take it a step further. I think in terms of survival of the fittest. But not in racial (tribal) sense but in worldview and religious sense.

The way of looking at things, the outlook and the worldview which is most effective in motivating people in living life, toiling for food and toiling to raise their offspring and getting killed while defending themselves against enemies will be most successful.

I believe faith (traditonal religions) will return bigtime and I expect tons of atheists to commit suicide as we pass through the collapse. Even if the atheists don’t commit suicide it will be unlikely that they will want to procreate and increase their work burden.

Many atheists do see the writing on the wall and reluctantly agree with me but they shrug it all off by saying that “religion” is just a giant placebo effect.

Mansoor H. Khan

Mansoor H. Khan said...

A comment I made on Economic Undertow blogpost:

http://www.economic-undertow.com/2013/06/13/the-greatest-risk/#comment-23195

mansoor h khan
on June 17, 2013 at 11:12 pm said:
Dork said,

“People form groups that become more local as the energy density drops.”

Yes. People can form groups but still follow a traditional religion. No contradiction there.

And in fact what happens is that the grouping/tribe is often on a basis of “sect/sub-sect/variation on sub-sect as each group interprets the traditional religion it follows as it sees it. This is specially true of Islam and Hinduism because both of these religions are not centralized with any kind of “official” clergy.

The innovation of Islam is that it “kicked the butt of the official clergy” and established a direct man-to-god relationship. Islam considers monkhood a sin.

If a mullah/iman ever claimed anything like “no salvation outside the mosque” the Quran authorizes such behavior to be dealt with the sword.

A visual validation of this fact is that you may have seen muslims pray in parks or airports (no mosque is needed and no priest is needed!).

I pray five times a day at home or in the office and once a week on friday in the mosque. The mosque is not part of hierarchical network in the “catholic church sense”. Islam has no centralization!

I think future political organization will be like how the ottoman empire was organized. It was lead by muslims but with tons of christian, jewish and zoraostrian communities which were allowed to implement their own law within their communities to some extent. Yes, they did have to pay tax and follow some of the laws of the ottoman empire.

By the way here is how muslims view christian and jews:

1) they were the chosen people but they started to love the creation more than the creator so god revoked their position of spiritual leadership

2) Christians love the creator but hate the creation.

3) muslims love the creator and know how to use the “stuff” of the creation to serve the creator. Running a government or operating a business or screwing your wife/husband is considered an act of workship in Islam

—-> in the modern world most jews, christians, and muslims love the creation more the creator, i am praying and hoping that will change with the coming collapse.

But of course I don’t know if that will really happen.

Mansoor H. Khan

Mansoor H. Khan said...
This comment has been removed by the author.
Mansoor H. Khan said...
This comment has been removed by the author.
Mansoor H. Khan said...

Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/bernanke-kills-fed-credibility-and-the-confidence-fairy-in-one-shot.html#comment-1296829

Richard Kline says:
June 20, 2013 at 8:52 pm
Gods. Most of human history had the right idea, it’s monotypes who’ve went nuts. And Gaia’s gone off with Ge to start a better world on the other side of the sun . . . .

Reply
Mansoor H. Khan says:
June 20, 2013 at 11:45 pm
Richard,

The universe is about number of Gods (Worldviews) going to one god (one worldview). Kind of like how it is in science. The most useful idea (e.g., Newtonian Physics, or the Hindu numbering system) becomes victorious over time because it is the most useful.

Everything approaches ONE as time moves forward as knowledge spreads globally and ideas (worldviews) are tested and retested again and again taking hundreds or even thousands of years.

It is not about survival of the fittest race (tribe)but about the fittest worldview/outlook on life/understanding of reality.

Mansoor H. Khan

Mansoor H. Khan said...

Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/chinese-interbank-markets-having-a-heart-attack-repo-and-shibor-skyrocket-could-trigger-bigger-unraveling.html#comment-1296888

mookie says:
June 21, 2013 at 1:30 am
The party’s only ideal is power, its only goal maintaining its hold on power; it doesn’t care what particular song society dances to, only that they’re controlling the stereo. Or in Deng’s famous formulation, “It doesn’t matter whether the cat is black or white, as long as it catches mice.”
This is a credit bubble starting to pop, not a political play. As it unravels it will become more and more apparent that the party is like the Wizard of Oz – all show, no power. The only reason the party has maintained the confidence of the people is constant growth and perceived progress. High inflation and growing wealth inequality has already lessened the people’s confidence over the past few years. If a crisis disrupts growth and increases inequality further, confidence will disappear and we’ll see some interesting moves as levers are frantically pulled. My worst fear is that in the event of a crisis the party will jump at any opportunity to escalate tensions with Japan as a distraction. I hope I’m being too pessimistic.

Reply
Mansoor H.Khan says:
June 21, 2013 at 7:55 am
mookie said:

“its only goal maintaining its hold on power;”

But all elites know that in order to hold on to power there should be sufficient social stability in society to avert chaos, war and rampant criminality.

more at:

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/06/richard-alford-trust-in-economists.html#comment-1286054

F. Beard says:
June 11, 2013 at 2:24 pm
I forgot to mention Chaos/collapse to come not only due to the global banking collapse, fossil fuel depletion but also climate change/global warning. mansoor h. khan

And in doing so, you go too far. ALL things are possible for God but providing for our mere material needs, especially so. The human heart? There’s the difficulty.

mansoor h. khan says:
June 11, 2013 at 2:46 pm
F.Beard said:

“And in doing so, you go too far.”

I think you mean my prediction about a global banking collapse. To me that is more science than a prediction.

Banking collapses due to usury have been happening for thousands of years. This is due to divergence of compound math vs. physics (the ability to create goods and services).

I explain my logic here:

http://aquinums-razor.blogspot.com/2010/07/why-is-deflation-and-depression.html

mansoor h. khan

F. Beard says:
June 12, 2013 at 9:21 pm
No. I mean your predictions of climate change and fossil fuel depletion.

mansoor h khan says:
June 13, 2013 at 7:46 pm
There is lots of consensus on these predictions:

Fossil fuel depletion articles:

http://www.economic-undertow.com/author/steveludlum/
http://kunstler.com/
http://www.theoildrum.com/

Climate Change:

Plenty of stuff at: http://en.wikipedia.org/wiki/Climate_change

mansoor h.khan

Mansoor H. Khan said...

Comment:

It is not about survival of the fittest race (tribe) but about the fittest worldview/outlook on life/understanding (conception) of reality/Mental Model.

Mansoor H. Khan

Mansoor H. Khan said...

A comment I made on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/06/pepe-escobar-why-american-worries-about-containing-china-are-premature.html#comment-1297163

Schofield says:
June 21, 2013 at 9:50 am
It’s now possible courtesy of the American research expertise of Edward O. Wilson and Martin Nowak at Harvard University to see this all more simply. Wilson and Nowak have helped determine that in addition to the two primary driving forces of life natural mutation and natural selection a third exists natural cooperation:-

http://faculty.washington.edu/beecher/Nowak%20etal%20-%20evolution%20of%20eusociality%20-%20Nature%202010.pdf

http://isites.harvard.edu/fs/docs/icb.topic426436.files/five_rules.pdf

To aid the effectiveness of natural cooperation we have developed the social technolgy of money. Indeed Adam Smith in his 1776 book the “Wealth of Nations” had a glimmering of this when he wrote:-

“A prince, who should enact that a certain proportion of his taxes should be paid in a paper money of a certain kind, might thereby give a certain value to this paper money; even though the term of its final discharge and redemption should depend altogether upon the will of the prince.”

(Adam Smith. “Wealth of Nations” Book II, Chapter II. 1776)

A modern interpretation of this can be understood in this recent article of JD Alt’s:-

http://neweconomicperspectives.org/2013/06/let-it-be-done-an-alternative-narrative-for-building-what-america-needs.html

The interpretation is that of the Chinese Communist Party in the sense that it thoroughly understands Modern Money Theory, or MMT as the abbreviation, and helps explain a primary reason why China has experienced very high growth rates over the last thirty odd years. Such understanding will help ensure on current indications why China will take over from the United States as the world’s dominant military force despite the problems China is currently experiencing with its Western capitalist inspired shadow banking excesses.

Indeed we are now witnessing a second re-run of the use of MMT theory for military domination through the use of money as a social cooperation technology since it was used by Adolf Hitler and the Nazis.

Reply
Mansoor H. Khan says:
June 21, 2013 at 10:24 am
Yes. We need MMT and we need to get rid of debt based currency issuance:

More at:

http://aquinums-razor.blogspot.com/2011/02/give-500-per-month-to-each-us-citizen.html

But peak oil limits what MMT can do right now. We should still do the “social credit” thing I suggest in the above link or else we will have social chaos in America.

However, to reign in peak oil driven inflation spending of the high spenders in our economy will have to be curbed via a consumption tax of some kind (not an income tax),

Increased Economic Activity Means => Increased Fossil Fuels Consumption.

Mansoor H. Khan

Reply

Mansoor H. Khan said...

A Comment I made on the Archdruid blogpost:

http://thearchdruidreport.blogspot.com/2013/06/what-actually-happens.html

Mansoor H. Khan said...
Nestorian said:

"You (JMG) have not been coy in maintaining that the worldview you are advocating is fundamentally relativistic in character. This applies not merely to questions of value, but even to questions of truth, as the following quote shows:

"Philosophers since ancient times have pointed out, and quite rightly, that human beings have no access to absolute truth."

The above does not hold for most eastern philosophers. The "relativistic" worldview is very modern.

However, to be fair, most eastern philosophers do say that truth is hard do get at and in case of Hinduism may require experience gained in innumerable lifetimes.

Mansoor H. Khan

Mansoor H. Khan said...

A Comment I made on the Archdruid blogpost:

http://thearchdruidreport.blogspot.com/2013/06/what-actually-happens.html

Mansoor H. Khan said...
Nestorian said:

"You (JMG) have not been coy in maintaining that the worldview you are advocating is fundamentally relativistic in character. This applies not merely to questions of value, but even to questions of truth, as the following quote shows:

"Philosophers since ancient times have pointed out, and quite rightly, that human beings have no access to absolute truth."

The above does not hold for most eastern philosophers. The "relativistic" worldview is very modern.

However, to be fair, most eastern philosophers do say that truth is hard do get at and in case of Hinduism may require experience gained in innumerable lifetimes.

Mansoor H. Khan

Mansoor H. Khan said...

A correspondence with my friend about the "Illusion of Time" video on Youtube:

From: Patrick Beltran
To: Mansoor Khan
Sent: Friday, July 5, 2013 2:03 PM
Subject: Re: Fwd: The illusion of time

Your point about the origin of God--Who, by definition, has no beginning and no end--reminds me of a passage in the Jewish Torah, in Chapter 3 of the book of Exodus. Moses is in the presence of God, up on the holy mountain, and he asks God what His name is. Moses says, "If I come to the people of Israel and say to them, 'The God of your fathers has sent me to you,' and they ask me, 'What is his name?' what shall I say to them?" God answers, "I AM WHO I AM... say this to the people of Israel: I AM has sent me to you."

What a beautiful answer! Of course that is his answer--what else can an eternally existent being, Who is the source and ground of all else that exists, say? He has no name, not in the human sense... he just IS. I get goose bumps thinking about it. Hahaha...


From: Mansoor Khan
To: Patrick Beltran
Sent: Friday, July 5, 2013 1:18 PM
Subject: Re: Fwd: The illusion of time

alhumdolillah,

very good observations. Science is now more and more having to deal with this kind of stuff. For example, a very famous atheist was recently asked (Dawkins?) about what was there before the big bang and he replied that is an invalid question.

so some believers immediately recognized that is the answer they (the believers) give as far as origin of Allah.

Also, the quran goes a step further and says that:

Allah fully and completely knows the past, present and the future and the he also knows the "fourth". The "fourth" are events can happen but will not happen because Allah has NOT willed them.

Mansoor H. Khan
From: Patrick Beltran
To: Mansoor
Sent: Friday, July 5, 2013 12:52 PM
Subject: Re: Fwd: The illusion of time

Finally got around to watching this. Very fascinating!

Is it me, or have scientists merely discovered God's vantage point over creation? I don't know about Islam, but in Christianity we have always talked about God being "outside" of time, and that for Him, the concepts of past, present and future, as human beings experience them, have no real meaning, because all moments in all of creation are present to Him always, like a great, eternal Now--whether they are past, present or future. Sounds a lot like what the scientists were describing in that video, doesn't it?


From: Mansoor
To: "patrick beltran@gtsi. com"
Sent: Thursday, June 13, 2013 9:50 AM
Subject: Fwd: The illusion of time



Sent from my iPhone

Begin forwarded message:

From: Mansoor Khan
Date: June 13, 2013, 6:31:46 AM EDT
To: sohail malik , Imran Khan , Sarwat , Nadeem Amin , aamir ali , "aiysha2@gmail com" , Yousef Khan , "omarkhan07@gmail com" , johnson philip , kennedy dlima
Subject: The illusion of time
Reply-To: Mansoor Khan

please watch. very cool!

http://www.youtube.com/watch?v=NxuZnMEcGVY



Mansoor H. Khan

Mansoor H. Khan said...

A friend asked a question about the federal debt limit and I responded:

From: Mansoor
Date: October 3, 2013 at 4:40:10 PM EDT
To: Patrick Beltran
Cc: Adrian Wright
Subject: Re: Question about the debt limit

Debt limit is bullshit.

Only thing that matters is the capacity of the economy to produce real stuff and availability of raw materials and labor. This fact is unchanged whether new money is spent or existing money is spent by you and me or by the government.

Inflation rate is the best measuring tool we have to determine if our current spending level is below or above capacity at the moment.

Mansoor
Chow

Ps: our political system is mostly a charade run by the bankers!

Sent from my iPhone

On Oct 3, 2013, at 4:10 PM, Patrick Beltran wrote:

Mansoor,

I am somewhat confused. Pundits and politicians are all saying that if the debt limit is not raised soon, the United States will be forced to default on our obligations, and financial chaos will ensue. But what I don't get is this: the debt limit merely constrains the government from taking on NEW debt... but why would it possibly constrain the government from making payments on EXISTING debt? Yes, I understand that we run a huge federal deficit every year, and that's why (at normal spending levels) the debt is always increasing. But why couldn't we just radically reduce spending from "normal" levels, at least temporarily, until the debt negotiations conclude? I mean, isn't that kind of what the shutdown is doing, anyway (radically reducing the amount of money we're spending)? Why is there this bogeyman out there that says the INSTANT we hit the debt limit we will default?

Any help you can provide would be helpful (and please, I don't need a long dissertation on "the nature of money"... I just want this one simple question answered *:) happy).

Thanks,
Patrick

Mansoor H. Khan said...

An exchange via an email message with my Friend Patrick Beltran:

Mansoor H. Khan


On Thursday, October 17, 2013 2:39 PM, Mansoor wrote:
Watch Japan go bonkers in a few years then china and then others !

Sent from my iPhone

On Oct 17, 2013, at 2:13 PM, Patrick Beltran wrote:

Mansoor, Mansoor, Mansoor... I don't have time right now to play, from beginning to end, my copy of "Arguing with Mansoor: His Greatest Hits"... so I will limit myself to one comment and one question.

First, the comment -- new technology (e.g. fracking) is already beginning to alleviate the problem of oil scarcity. I'm sure other innovations will follow. Historically, people who make doomsday predictions based on "inevitable" shortages of natural resources (farmland, water, food, etc.) tend to end up frustrated, waiting for an apocalypse that never materializes.

And, then the question -- what possible interpretation of the events leading up to WW2 would lead you to say, with a straight face, that it was a war "about fossil fuels"??



On Thursday, October 17, 2013 1:09 PM, Mansoor wrote:
Real coming war will be about oil / fossil fuels just like WWII was.

A Fractional reserve banking system collapses without economic growth as in Great Depression.

But we are close to scarcity of fossil fuels without a cheap energy alternative say sayonara to modernity.

Watch japan they will go bonkers first then others will follow.

Sent from my iPhone

On Oct 17, 2013, at 11:26 AM, Ed Becker wrote:

Hmmm. Interesting. I do think the dollar is under attack after the latest fiasco.

also, this:
http://www.ritholtz.com/blog/2013/10/the-truth-about-the-deficit/


From: Patrick Beltran
To: Mansoor Khan ; Ed Becker
Sent: Thursday, October 17, 2013 11:10 AM
Subject: Article: Chase Limits Withdrawals, Bans International Wire Transfers

What do you guys make of this? This is a breaking news story... why is Chase doing this? And what, if anything, does it mean?

http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/

Mansoor H. Khan said...

A comment on a Naked Capitalism blogpost:


Mansoor H. Khan says:
October 20, 2013 at 8:19 pm
Steve said,

“People need to understand that ‘growth’ is an increase in unsecured debt, that unsecured debt is the basis of our so-called prosperity which itself is nothing other than living beyond our means.”

Humanity is not living beyond its means. It is not possible for humnanity to live beyond its means.

Everything consumed must exist and must be produced by someone.

We have a distribution problem which was masked by growth. Growth did provide opporutnities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#VDLuec8vULqOeD6W.99

Reply

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#WVKuHI0E5PUkGF2S.99


Mansoor H. Khan says:
October 20, 2013 at 8:19 pm
Steve said,

“People need to understand that ‘growth’ is an increase in unsecured debt, that unsecured debt is the basis of our so-called prosperity which itself is nothing other than living beyond our means.”

Humanity is not living beyond its means. It is not possible for humnanity to live beyond its means.

Everything consumed must exist and must be produced by someone.

We have a distribution problem which was masked by growth. Growth did provide opporutnities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#VDLuec8vULqOeD6W.99

Reply

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#WVKuHI0E5PUkGF2S.99

Mansoor H. Khan said...

Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#comment-1517594

Martin Finnucane says:
October 20, 2013 at 10:11 pm
It is not possible for humnanity to live beyond its means.

Not sure about the rest of your comment, but I think that this statement should be cast in bronze and placed on the lintel above every point of ingress at every bank, library, school house, and government office in the U.S., and everywhere else. Honestly, it is sickening to contemplate the extent to which our “common sense” on matters touching upon the public fisc is utter nonsense. And not just nonsense, but easily demonstrable nonsense.

Reply
Mansoor H. Khan says:
October 20, 2013 at 10:37 pm
Martin,

But this general global mis-understanding is not an accident but intentionally encouraged by the ruling classes of the world in order to intellectually enslave humanity.

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

Mansoor H. Khan
Reply

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#yRItf8PA0JRdmP0z.99

Mansoor H. Khan said...

Naked Capitalism Comment:

http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#comment-1517695

Martin Finnucane says:
October 20, 2013 at 11:03 pm
I’m with you there, brother. And at least here in the U.S.A., there’s a face and name that any man or woman of knowledge and good conscience can attach to the movement to enslave us – that is, the name of the enslaver, or the slavery enabler. And that face is handsome indeed, and that name?: Barack Obama.

The devil doesn’t approach in fury and rage, giving us notice of his evil nature and wicked intent. Rather, the devil comes as a friend, an agent of good – nay, as an agent of hope and change. That we gulped at that bait shows just how ridiculous and infantilized our “progressive” culture is. Pathetic weak fish, gasping for oxygen, dying.

Reply
mansoor h. khan says:
October 20, 2013 at 11:18 pm
Martin,

The intellectual slavery imposed by the current global elite is very similar to the intellectual slavery imposed by the Church in the middle ages (i.e., no salvation outside the church!).

The knowledge (light) spread via the printing press destroyed the church I pray and hope that (inshallah) the knowledge (light) spread via the internet (printing press version II) destroys the lies about economics, banking and the monetary system spread/maintaned by the current global elite.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#qeOk8BSVERDFWpx5.99

Mansoor H. Khan said...

Another Naked Capitalism Comment:

http://www.nakedcapitalism.com/2013/10/the-european-crisis-lessons-from-the-1920s-the-gold-standard-and-historical-trilemmas.html#comment-1519097

mansoor h. khan says:
October 21, 2013 at 6:35 am
Our current crises is much harder to solve than the great depression crises.

The great depression was a crises of falling demand due to deflation but there were no true resource constraints (like labor or raw materials availability).

The resolution to the great depression was simple: Get currency (money) in the hands of the consumer and get demand going. This was done via FED printed currency to pay for the War effort. The war effort created immense number of jobs.

Today, Capitalism has finally arrived at true resource constraints (note the price of crude oil).

Usury (affectionately called Fractional Reserve Banking) must be abandoned at this point. There is no other solution. Abandon Fractional Reserve Banking or Lose our Civilization. It is that simple:

http://aquinums-razor.blogspot.com/2011/11/here-is-how-bankers-game-works.html

We need an alternate money distribution method:

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

C) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

D) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.htm

Read more at http://www.nakedcapitalism.com/2013/10/stephanie-kelton-how-to-talk-about-debt-and-deficits-dont-think-of-an-elephant.html#fCWYS3ugafYuqir1.99

Reply

Read more at http://www.nakedcapitalism.com/2013/10/the-european-crisis-lessons-from-the-1920s-the-gold-standard-and-historical-trilemmas.html#13hoPRyujcQuefwy.99

Mansoor H. Khan said...

Comment on Naked Capitalism blogpost:

http://www.nakedcapitalism.com/2013/10/the-european-crisis-lessons-from-the-1920s-the-gold-standard-and-historical-trilemmas.html#comment-1520691

Mansoor H. Khan says:
October 21, 2013 at 2:16 pm
Taunger,

Keep trying. I suggest you read a novel by Herman Hesse named Siddharta to learn how to think in the spiritual dimension which most wersterner’s have forgotton how to do since the abandonment of Christianity.

Yes. Defnitely keep trying. Islam says when you search for the Truth (God?) and take one step toward finding him he will take ten steps toward you!

Mansoor H. Khan

Reply
taunger says:
October 21, 2013 at 7:57 pm
Yes, Siddharta is good, but I suspect you would enjoy (have enjoyed?) Idreas Shah “The Wisdom of the Idiots” more. But books are just words, it is action that gives meaning anyway. I won’t give up; like I said, there’s nothing better to do anyway.

Reply
Mansoor H. KHan says:
October 21, 2013 at 10:03 pm
Taunger,

Remember, each action must have a theory (reason) behind it.

As it is said:

Action without understanding (Theory) is Blind and Theory without Action is Empty. So you need both! And you need Theory first BEFORE you act.

Mansoor H. Khan

Reply

Read more at http://www.nakedcapitalism.com/2013/10/the-european-crisis-lessons-from-the-1920s-the-gold-standard-and-historical-trilemmas.html#mQDgdGoBRsmdDXSs.99

Mansoor H. Khan said...

Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/10/the-feds-exit-problem-symptom-of-paradigm-breakdown.html#comment-1525913

Nathanael says:
October 22, 2013 at 7:13 pm
It’s worth noting that the junior Assad, who has destroyed his own credibility and most of his own country and now exists solely as a Russian puppet, *was educated in England*. Perhaps this accounts for why he learned absolutely nothing about how to deal with restless peasants.

Reply
Mansoor H. Khan says:
October 22, 2013 at 11:59 pm
Nathanael,

If peak oil (and peak resources?)is true then this is a two way street we (public) must learn how to be patient/satisfied peasants and the rulers must learn how to manage peasants.

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H Khan


Read more at http://www.nakedcapitalism.com/2013/10/the-feds-exit-problem-symptom-of-paradigm-breakdown.html#pkCPbELmkjJtUq3V.99

Mansoor H. Khan said...

A comment to friend:

On , Mansoor Khan wrote:
don't joke too much... we need to dua and to get mentally prepared as much as we can.

lots of rich people (especially rich GORAS) will commit suicide!

Faith will actually become a survival advantage...desire to live will be too small without faith in afterlife.

Mansoor H. Khan


On Tuesday, October 22, 2013 11:40 PM, Sohail Malik wrote:
1. We should go camping more often.
2. I'm glad I watched "Lost".


On Tue, Oct 22, 2013 at 9:04 PM, Mansoor Khan wrote:
http://survivethecomingcollapse.com/


Mansoor H. Khan

Mansoor H. Khan said...

Another comment on Naked Capitalism:

Mansoor H. Khan says:
October 31, 2013 at 9:52 pm
TimR,

The islamic version is not so harsh. Yes, The garden of eden was lost but that was part of his plan to help develop man (his soul) further. Also, in the islamic version every sole is born sinless but will sin on earth as it exercises free well.

Also, per the islamic version when souls were created angels complained;

“Oh Allah you have created a being who will shed much blood on earth (with his free will and all)”.

Allah Replied:

“Yes. But you do not know what I know”.

Allah’s reply means (in addition to other things) that he (allah) will guide men (and women) to do beautiful things too (like science and art and charity and mercy and justice) and worship him and love him and get to heaven.

People have to stop loving the creation more than the creator and seek divine guidance (via the scripture) for satisfaction with this life and a good life in the next phase of life (after death).

more at;

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Reply
skippy says:
November 1, 2013 at 2:57 am
@People have to stop loving the creation more than the creator – Mansoor

Sorry Mansoor but history predates that view. The view you espouse is the war like dominate one that ran rough shod over weaker views.

skippy… genetic analysis might crack this nut one day and we might not like what we find ergo: what if successful sociopaths had more children than empathic humans.

Reply
mansoor h. khan says:
November 1, 2013 at 5:59 am
Skippy,

Yes. War is a problem. But modern warefare is a bigger problem with its terrorism (killing of civilians and damage of civilian property).

Conflict between good and bad is built into the life on earth by the creator. Again, this life is a test. It is designed such that it should be very hard for a “good hearted” person to fall in love with it. This is the incentive to find the creator.

Per Islam: “A believer is like a traveler never really at home on earth and is always dreaming about his retirement in heaven”.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/10/greed-revolution-and-governance.html#yZPEjKOofjvg7lSF.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/bob-goodwin-what-can-be-done-about-the-software-engineering-crisis.html#comment-1644108

Mansoor H. Khan says:
November 22, 2013 at 6:29 pm
dw said “art than engineering”

Actuall it is both art and engineering!

Really good software people tend to have both good right brain skills (ability to see the whole, ability to understand requirements/purpose, ability to relate system “things” to the real world well, good command of language and words) and good left brain skills (logical, ability to abstract/modularize, see the proper sequence of steps, properly categorization).

Ian McGilchrist has discussed this in his book:

The master and his emissary.

mansoor h. khan


Read more at http://www.nakedcapitalism.com/2013/11/bob-goodwin-what-can-be-done-about-the-software-engineering-crisis.html#3dZueCJUrt0heomW.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/bob-goodwin-what-can-be-done-about-the-software-engineering-crisis.html#comment-1644154

Mansoor H. Khan says:
November 22, 2013 at 6:44 pm
Anarcissie said:

“Ultimately, however, all problems of social production are political”

yes. that is correct. but the real question is:

Is it possible to manage our human nature better?

For past 40 years I have seen the Western culture become extremely relativistic and almost nihilistic. The question is never:

Can utopia be achieved? through practicing whichever “ism”.

But can we signaficantly improve our situation via a better culture/values/system/government? Is it possible? or are we foreever just as screwed as we ever were?

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/11/bob-goodwin-what-can-be-done-about-the-software-engineering-crisis.html#3dZueCJUrt0heomW.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.economic-undertow.com/2013/11/18/pride-of-failure-and-the-fall/#comment-35185

Mansoor H. Khan
on November 24, 2013 at 8:43 am said:
Steve,

You keep talking about bankruptcy of the banks and bankruptcy of the central bank. But at a high level an economy is not bankrupt when the accounting ledgers say debts cannot be paid. An economy is bankrupt when production of goods and services ceases.

Debts are accounting and insolvency is accounting. Think about the great depression. At that time there was no issue with availability of raw materials or labor shortage or even peace to conduct business and produce goods and services.

During GD deflation caused currency shortage and reduced demand. The real problem during GD was debt-based money.

The real problem now is debt-based money AND fossil fuel depletion.

A 100% reserve digital currency would allow the money-stock in circulation to be matched to the economy’s capacity much easier. Yes banks would lose their money creation privilege but at least we will avert a mad max scenario which a deflationary spiral will certainly lead to.

Even with a 100% reserve digital currency most of current debts will not be repayable. This means that economic relationships in our civilization will have to be re-structured.

My main point is this ==>

Insolvency on a national balance sheet does not equal a bankrupt national economy (usually). All it means is that economic relationships in our civilization will have to be re-structured to match the productive capacity of the economy (that is debts needs to be discharged, forgiven, re-negotiated, assets liquidated and divided up, etc).

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels. Specially since the start of the industrial revolution.

This distribution problem was masked by growth. Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

Mansoor H. Khan

Mansoor H. Khan said...

Another comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/mario-seccareccia-larry-summers-secular-stagnation-and-the-crisis-of-the-new-consensus-model.html#comment-1654706

mansoor h. khan says:
November 26, 2013 at 7:06 am
Paul P said:

“Sustained growth will require redistribution.”

More economic growth requires both “more demand” (as implied by the above comment from Paul P) and a “cheap” energy source ($93 barrel oil won’t cut it — need more like $20 barrel oil for growth).

Also I don’t think a cheap energy source (with a high EROEI) has been found yet. So forget about growth for now.

We should focus more on better “sharing” of the economic capacity we have left (and our economic capacity is mostly limited by availability of fossil fuels — for now anyway).

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels (starting with the use of coal).

This distribution problem was masked by economic growth. Economic Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include a stiff consumption tax to discourage too much consumption by the rich and upper middle classes. Social credit monthly stipend can be adjusted to account for the consumption tax. Also, “basic” goods can be made exempt from the consumption tax.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

more at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/11/mario-seccareccia-larry-summers-secular-stagnation-and-the-crisis-of-the-new-consensus-model.html#AKhd1mP1q7G3lWGw.99

Mansoor H. Khan said...

A response to a comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/mario-seccareccia-larry-summers-secular-stagnation-and-the-crisis-of-the-new-consensus-model.html#comment-1655149

Dan Kervick says:
November 26, 2013 at 10:27 am
One form of growth comes from improved efficiency at the existing level of resource use rather than from increased levels of resource exploitation.

Also, redistribution will boost demand.

Reply
Mansoor H. Khan says:
November 26, 2013 at 11:25 am
Agreed!

That is why we need to agree on how to measure inflation? and then do a good job of measuring it.

The rate of inflation gives us a good idea of whether we are below, at or above the capacity of the economy.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/11/mario-seccareccia-larry-summers-secular-stagnation-and-the-crisis-of-the-new-consensus-model.html#lq2Ou8DhLryhEOeu.99

Mansoor H. Khan said...

A comment I made on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/olivier-blanchard-monetary-policy-will-never-be-the-same.html#comment-1668267

mansoor h. khan says:
November 30, 2013 at 8:50 am
At a high level an economy is not bankrupt when the accounting ledgers say debts cannot be paid or even when there is no sufficient currency to circulate and liquidate the available productive capacity.

An economy is bankrupt when production of goods and services ceases.

Also, it is impossible for humanity to live beyond its means! Everything consumed has be produced and has to first exist.

No matter what the national debt is or private debt is or unfunded liabilities are (however one calculates them) it does not impact production capacity of the economy. Debt is Accounting between individuals and institutions.

For example, if a shoe factory produces a million shoes a year any debts (national or private, funded or not) does not change the factory capacity. What matters is raw materials availability, labor availability and peach, security and rule of law (which are necessary to conduct business).

Also, the factory capacity is only usable (liquidatble) if the public (somehow) gets enough money in its hands (via wages, public assistance, begging or social credit/guaranteed income) to buy the output of the factory.

Debts are accounting and insolvency is accounting. Think about the great depression. At that time there was no issue with availability of raw materials or labor shortage or even peace to conduct business and produce goods and services.

During GD deflation caused currency shortage and reduced demand. The real problem during GD was debt-based money.

The real problem now is debt-based money AND fossil fuel depletion.

A 100% reserve digital currency would allow the money-stock in circulation to be matched to the economy’s capacity much easier. Yes banks would lose their money creation privilege but at least we will avert a mad max scenario which a deflationary spiral will certainly lead to.

Even with a 100% reserve digital currency most of current debts will not be repayable. This means that economic relationships in our civilization will have to be re-structured.

My main point is this ==>

Insolvency on a national balance sheet does not equal a bankrupt national economy (usually). All it means is that economic relationships in our civilization will have to be re-structured to match the productive capacity of the economy (that is debts needs to be discharged, forgiven, re-negotiated, assets liquidated and divided up, etc).

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels. Specially since the start of the industrial revolution.

This distribution problem was masked by growth. Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.


Read more at http://www.nakedcapitalism.com/2013/11/olivier-blanchard-monetary-policy-will-never-be-the-same.html#cztXerZyXWSYwlHz.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/11/michael-hudson-oligarchs-will-never-cancel-debts-we-owe-them.html#comment-1668301

Banger says:
November 30, 2013 at 9:18 am
I’m with Hudson on all this (yes, there’s more to the Roman World than debt etc.). But this is not a matter of just economics and finance because it is obvious that we are in a lose-lose situation because our system, as currently managed by the oligarchs, is unhealthy for society as a whole. It encourages fear and scarcity in a world of abundance and the potential for relatively stress-free living. All classes benefit when society is happy, connected, and focused on love and happiness, even the rich. The question we should be asking is how do we move towards leveraging our techno prowess and access to tools (material and conceptual) into creating a world of peace, love and understanding.

Our system is based on fear and distrust and a ever-widening inability to understand relationship, connection and love that is the counter to the political arrangements we live under. Debt is a prison and it inspires all the other prisons we live under. My point is that we have to find a way to live together based on personal interactions not legalistic and monetary systems–I think this is the essence of anarchist sentiment which I favor even though I know it is impractical politically.

Reply
Mansoor H. Khan says:
November 30, 2013 at 11:16 am
Banger,

I agree with you. We (humanity) need to focus much more on our connectedness and not just our individuality. And yes our economic system encourages “destructively selfish” behaviors.

This stuff was widely discussed by thinkers during the great depression and one of the best ideas that came out of it was the idea of “social credit” to distribute economic fruits of civilization to all. This line of thinking as been totally lost in favor of “survival of the fittest” idea.

But “survival of the fittest” also applies to community. The fittest individuals would see their connectedness to the whole of humanity and would use their talents and advantages not only for “self” but also for the benefit of the larger community.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/11/michael-hudson-oligarchs-will-never-cancel-debts-we-owe-them.html#ZmkCLEpJVKcoMIKD.99

Mansoor H. Khan said...

A comment on Naked Capitalism blogsite:

http://www.nakedcapitalism.com/2013/11/olivier-blanchard-monetary-policy-will-never-be-the-same.html#comment-1668335

Mansoor H. Khan says:
November 30, 2013 at 9:40 am
Skippy said:

“Sorry beardo but 4,000 years is incorrect, the foundation for your 4,000 years was laid long before it.”

Islam agrees with you. Foundation was laid by Allah as he instructed Adam and Eve (the first man and woman) on the right way to think about existence and commandment to live by the divine law (like the prohibition on usury, which probably came about at Moses’ time).

Only details were added as time passed. Islam says that hundreds of thousands for prophets were sent to mankind throughout the ages with same general message.

The message (details) were completed and clarified and corruption removed by the last and final prophet to all of humanity, Prophet Mohummand (Peace be upon him).

More at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html


Read more at http://www.nakedcapitalism.com/2013/11/olivier-blanchard-monetary-policy-will-never-be-the-same.html#G4qTYLIGM5DZQZf6.99

Mansoor H. Khan said...

Another comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/the-bls-report-covering-november-2013-effects-of-the-government-shutdown-fade-part-time-work-increases.html#comment-1696535
Mansoor H. Khan says:
December 8, 2013 at 6:00 am
Banger,

In a sense we are much better able to deal with deflation this time around (as opposed to during the Great Depression).

All kinds of public assistance programs (Welfare, Foodstamps, local programs, Medicaid, etc) and rising number of people applying for and getting social security disability benefits and even more and more baby boomers reaching the social security age and collecting social security benefits counter the deflationary trend in the economy.

All this additional spending is just “social credit/guaranteed income program” by another name.

I believe that the deflationary trend will speed-up and the banking system will start “cracking-up” again. Most likely there will be more bailouts. And I expect the markets to crash. Mad-max scenario will not occur (inshallah) if the banking system is able to clear checks.

This process will probably continue for a very long time (10 years?) as long as people get enough help (i.e., social credit by another name) that they don’t starve or freeze to death or end-up on the streets.

I expect that eventually deficit spending will lead to inflation as fossil fuels become more and more scarce/expensive in terms of EROEI.

Then taxes will have to be raised on the rich and upper middle classes to rein in inflation.

We will probably muddle through as long as “checks clear” and too many people don’t end up on the streets.

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels (250 years ago?). Specially since the start of the industrial revolution.

This distribution problem was masked by growth. Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

more at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/12/the-bls-report-covering-november-2013-effects-of-the-government-shutdown-fade-part-time-work-increases.html#b5wG0QtMx3b3kIhf.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#comment-1698628

Mansoor H. Khan says:
December 8, 2013 at 9:49 pm
Dan,

The reason we need to talk about MMT so much is because most people implicitly believe in “says law”. Most people focus on currency (money) scarcity and not real resources scarcity (like raw materials, labor, peace, security, rule of law, management skills, technical skills, leadership skills, etc.).

If people’s thinking is stuck on money/currency scarcity they will not think big in terms of public finance projects.

We are already doing MMT and social credit. Most of us just don’t realize it.

In a sense we are much better able to deal with deflation this time around (as opposed to during the Great Depression).

All kinds of public assistance programs (Welfare, Foodstamps, local programs, Medicaid, etc) and rising number of people applying for and getting social security disability benefits and even more and more baby boomers reaching the social security age and collecting social security benefits counter the deflationary trend in the economy.

All this additional spending is just “social credit/guaranteed income program” by another name.

I believe that the deflationary trend will speed-up and the banking system will start “cracking-up” again. Most likely there will be more bailouts. And I expect the markets to crash. Mad-max scenario will not occur (inshallah) if the banking system is able to clear checks.

This process will probably continue for a very long time (10 years?) as long as people get enough help (i.e., social credit by another name) that they don’t starve or freeze to death or end-up on the streets.

I expect that eventually deficit spending will lead to inflation as fossil fuels become more and more scarce/expensive in terms of EROEI.

Then taxes will have to be raised on the rich and upper middle classes to rein in inflation.

We will probably muddle through as long as “checks clear” and too many people don’t end up on the streets.

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels (250 years ago?). Specially since the start of the industrial revolution.

This distribution problem was masked by growth. Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

more at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#4Hi32KvitD0v4qbM.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#comment-1699150

Yves Smith says:
December 9, 2013 at 1:08 am
MMT makes a great deal of sense. What makes it hard is you have to unlearn a lot of what you thought you knew. It’s not unlike learning quantum physics.

The best book is Randy Wray’s Understanding Modern Money. But you have to read it slowly, like a science textbook.

Reply
Mansoor H. Khan says:
December 9, 2013 at 6:21 am
Yves Said:

“What makes it hard is you have to unlearn a lot of what you thought you knew.”

Exactly, When I first really thought about Keynes’ “Paradox of Thrift” that is when a light bulb went on in my head.

And what makes it even harder is that the present day “Catholic Church” (the banking cartel and the usurer/creditor class) are deliberately and consciously and willfully deceiving, lying and misleading humanity with respect to the science of economics with their “no salvation outside their paradigm” edict/teaching.

But this modern day corrupt “church” (inshallah) will be defeated by the light of knowledge spread by the internet (Gutenburg printing press version II). Just like version I de-throned the church.

On a more broader view human history does show that humans can learn the “truth” and escape the matrix slowly over time.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#qgm3bLSLDSQydxT3.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#comment-1700075

Mansoor H. Khan says:
December 9, 2013 at 7:08 am
Calgcus said:

“see that these social relations we call “money” ”

The best definition of money I have come across yet is:

Money is a social arrangement.

Also, I think one major aspect of money (which the above definition encompasses) is that money is a strong social motivator since it helps to “keep” score (an accounting) of who has contributed (economically) to society the most.

It motivates super (economic) producers to produce far more than they consume. Of course, all super producers (i.e., entrepreneurs and super managers) use social capital all around them to do their thing (social capital like infrastructure, humanity’s built up knowledge capital, peace, security, rule of law, etc.).

That is why I favor no income taxation but only very high consumption taxes. The super producers should be encouraged to produce but not so much encouraged to hugely consume as it is now the case.

Of course, “unconsumed” production (unconsumed by the super producers) can then be distributed to the rest of society via Social Credit schemes as suggested by the late economist Clifford H. Douglas.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#sdJHk59DQBCae6y5.99

Mansoor H. Khan said...

Naked Capitalism blog:

http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#comment-1698666

Dan Kervick says:
December 8, 2013 at 10:10 pm
What I think that means is that we need to talk about the real underlying economy: what is produced, who produces it, who decides what is produced, how they are to make those decisions, and how the product is distributed. Focusing too much on the monetary system perpetuates money illusion.

Reply
Mansoor H. Khan says:
December 8, 2013 at 10:16 pm
Dan,

I agree. I have suggested to Rodger Malcolm Mitchell that he do exactly that. True societal change only occurs when a large portion of society understands reality. Otherwise they are too easily duped by the 1%.

Mansoor H. Khan

Reply
Mansoor H. Khan says:
December 8, 2013 at 10:18 pm
more at:

http://aquinums-razor.blogspot.com/2011/08/what-is-relationship-of-money-to.html


Read more at http://www.nakedcapitalism.com/2013/12/modern-monetary-theory-meets-george-lakoff.html#rrvmgIPuYKR1wVKl.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/ilargi-all-the-plans-we-make-for-our-futures-are-delusions.html#comment-1704287

Mansoor H. Khan December 10, 2013 at 1:02 pm
The Dork of Cork said,

“But the physical structure of the economy has been altered in a fundamental manner – it cannot be changed …….there is a inertia in the system……….the Titanic cannot be stopped.”

We don’t know if the Titanic cannot be stopped for sure. If we are properly guided with proper understanding of reality all around we can re-arrange our systems as suggested by Eureka Springs in the comments on this blogpost and many other commentators on Naked Capitalism generally.

We certainly should try our best that is what our creator (God) wants from us. Just to do our best in our short time on earth.

Mansoor H. Khan


Read more at http://www.nakedcapitalism.com/2013/12/ilargi-all-the-plans-we-make-for-our-futures-are-delusions.html#bVe5zfmA6op3ZBdf.99

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/ilargi-all-the-plans-we-make-for-our-futures-are-delusions.html#comment-1704563


The Dork of Cork December 10, 2013 at 2:30 pm
Whats really sad about our time is that there is no we…..

People have no control over their local city nevermind their country …..everything is overly centralized via distant corporate bodies so as to manage the interest bearing vortex so you get taxation without representation , a letter in the post from the gestapo and such……

Just imagine Ireland was just about getting its head around the old dastardly union when they decided to impose a even greater malice (union) on us.

The guys in charge maintain relative power through the imposition of a constant flux on society.
As people are dependent on the Industrial system for almost everything they cannot rebel against central authority like in the past when people came from a agrarian base.
The situation is hopeless.

Reply ↓
Mansoor H. Khan December 10, 2013 at 3:28 pm
The Dork of Cork said:
“The situation is hopeless.”

Nah. Not Hopeless at all. The real chess player and power broker is the creator of universe. Partial reason for the creation to exist (per Islam) is that Allah wants to glorify the prophets and de-glorify those who refuse to follow his prophets.

All of creation (things, animals, plants, humans, laws of physics, laws of biology, laws of compound math and laws of economics) are his instruments.

I can see the de-glorifcation/humiliation of the userers/bankers/creditor class coming soon. Stay tuned. I expect 100 years of worth change to occur in the next 10 to 20 yrears.

More at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Read more at http://www.nakedcapitalism.com/2013/12/ilargi-all-the-plans-we-make-for-our-futures-are-delusions.html#xGhCmFsRFi7dOeBO.99

TonyD said...

First of all, your "solution" advocates the continuation of a government take-over of our economy and our lives. That has NEVER worked.

Secondly, there is no shortage of fossil fuels--that is a myth perpetuated by persons with ulterior motives. And you don't seem to understand that the government has no interest in cheap energy or it wouldn't be overtaxing and restricting cheap energy. They don't WANT cheap energy!

Thirdly, natural resources do not belong to "humanity" at large--they belong to those who are productive enough and organized enough to control and extract them.

But let me ask you something: Who do you propose we place in charge of "fairly and equitably allocate" resources?

Finally, under the system you are proposing "free/fair markets and entrepreneurship and investment facilitating firms" would simply not exist.

TonyD said...

"Within the next five years I expect the global banking system to completely collapse unless the extreme form of usury it is based on (interest based currency issuance) is abandoned. We will have a hyper-deflationary collapse of the global banking system and mass global starvation if this extreme form of usury (interest based currency issuance) is not abandoned. Checks will not clear and supply chains will breakdown."

" I am expecting the Dow to go to 3000 or less in the next five years."

So, if, for some unfathomable reason, this does not come to be in the next 4 years and 3 months or so (your original comments I am quoting were published 8-9 months ago), will that mean YOU are clueless? Mansoor, what you don't "get" is that everything you are talking about is theory--not fact. Just because people disagree with you doesn't mean they are clueless.

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2013/12/michael-hoexter-malign-confusion-growth-economic-growth-degrowth-way-forward-part-2.html#comment-1765769

Banger
December 26, 2013 at 9:38 am
Good thoughts. Today’s system is so intertwined with politics and culture that I don’t think we can even call it “Capitalism.” I also believe that we cannot organize an alternative system because there is no “we” there. The first step is to develop the idea that we are all in this planet together and we need to join with our brothers and sisters in our hearts to begin with rather than try to impose something on others.

Reply ↓
Mansoor H. Khan
December 26, 2013 at 12:29 pm
Banger said,
“The first step is to develop the idea that we are all in this planet together”.
Banger, you are so cool and refreshing! Salaam (peace) to you.
There is so much nihilism, despair and apathy out there. I am with you on realizing that we (humans) are all connected like never before (i.e., via globalization, internet, etc). Besides, there are too many nuclear weapons and too many ways we can damage the global ecology to not think globally/humanisticly.

And you have said ealier that there are plenty of good practical/implementable ideas out there in the blogosphere but there is no consensus and no will to struggle. I am not sure what more to do other than writing blogposts (aquinums-razor.blogspot.com) and educating family, friends and co-workers!

Mansoor H. Khan

Reply ↓
Banger
December 26, 2013 at 12:44 pm
Thank you–as you well know and have commented on before–moral values are the key to this and that all has to come from somewhere, in each of us, that is deep within our hearts.

Mansoor H. Khan said...

A Comment on Naked Capitalism:

Banger
December 26, 2013 at 10:28 am
I think the 2008 crisis was the excuse many in the global elite (who, BTW, are not of one mind about much of anything) were attracted to the idea of austerity and believed that the crisis was a good opportunity to impose limits on growth. Most elites do believe climate change is a real problem even as they try to deceive the public about saying it is not important.

Reply ↓
mansoor h. khan
December 26, 2013 at 12:39 pm
Banger,

I believe one reason the elites do not want to seriously discuss resource limits and degrowth is because if they did the stock and bond markets around the world would severly crash.

I agree with I don’t believe there is consensus among the elites on what to tell the people. So what we get is a slow motion train wreck and band-aid solutions. Ofcourse, eventually the markets will crash and reality cannot hidden forever.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Native Capitalism:

http://www.nakedcapitalism.com/2014/01/michael-sandel-moral-limits-markets.html#comment-1801578

mansoor h. khan
January 5, 2014 at 6:24 am
Jim said:
“it time to analyze the nature of culture as well as the nature of money.”

Westerners need to to learn (re-learn) how to think “spiritually” in order to understand their current predicament.

There exists a spiritual cycle that all civilizations go through and have done so since recorded history. This is discussed in detail by Oswald spengler (http://en.wikipedia.org/wiki/Oswald_Spengler, http://www.meta-future.org/uploads/7/7/3/2/7732993/oswald_spengler_in_macrohistory_and_macrohistorians_5_2_2013.pdf). And recently discussed by John Michael Greer in his blog (http://thearchdruidreport.blogspot.com/).

The spiritual cycle is something like this at a very high level:,

1) Starting from Chaos, developing Myth and Religion begin to bind people together because these provide a faith based moral foundation. Very often myth and religion involves belief in and redemption in afterlife (as in Elysian fields in the old roman empire or numerous lives in Hinduism). But strangely enough not all religions (of the past) required belief in afterlife. Although, they did require belief in the unseen spirits and spiritual world and law of karma (or similar idea) in some shape or form.

2) binding leads to social cooperation and much more social order and rule of law and increase peace. Increased Peace leads to increased use of the rational mind and rise of mathematics and science and engineering and better management methods and ultimately leading to an empire and much greatly increased rate of material production.

3) This is when people begin to fall in love with this world (as opposed to the spiritual world). Love of science and rationality casts myth and religion aside as “untrue” but sometimes useful.

4) Selfishness and the love of money and power rises. Hedonism rises. Nihilism rises. Relativism becomes the dominant mode of thinking. Eventually leading to Mad max and Chaos as infighting increases and lies increase in size and effectiveness.

5) Eventually love of this world (as opposed to the love of the spiritual world, truth and knowledge) leads to total chaos and material production falls greatly and life becomes very difficult without some conception of spiritual world and belief in the spiritual world and eventual cosmic redemption and justice.

6) Myth and Religion return (sometimes with a vengence!). Spengler calls this the second religiosity. Conception of spiritual world and belief in the spiritual world becomes a “survival advantage” giving its believers spiritual strength to endure the low material consumption life. Community feeling increases among believers leading to a more satisfying life.

7) And the cycle continues… developing Myth and Religion begin to bind people together again…

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/debt-rattle-jan-3-2014-dr-doom-xanax.html#comment-1801944

Mansoor H. Khan
January 5, 2014 at 9:03 am
We should not focus on debt too much. Debts are accounting.

Double Entry Accounting (Assets = Liabilities + Owner’s Equity) is a useful tool to manage reality and our economic affairs and our economic relationships.

We should not let the tool (Double Entry Accounting) manage us!

At a high level an economy is not bankrupt when the accounting ledgers say debts cannot be paid. An economy is bankrupt when production of goods and services ceases.

Debts are accounting and insolvency is accounting. Think about the great depression. At that time there was no issue with availability of raw materials or labor shortage or even peace to conduct business and produce goods and services.

During GD deflation caused currency shortage and reduced demand. The real problem during GD was debt-based money.

The real problem now is debt-based money AND fossil fuel depletion.

A 100% reserve digital currency would allow the money-stock in circulation to be matched to the economy’s capacity much easier. Yes banks would lose their money creation privilege but at least we will avert a mad max scenario which a deflationary spiral will certainly lead to.

Even with a 100% reserve digital currency most of current debts will not be repayable. This means that economic relationships in our civilization will have to be re-structured.

My main point is this ==>

Insolvency on a national balance sheet does not equal a bankrupt national economy (usually). All it means is that economic relationships in our civilization will have to be re-structured to match the productive capacity of the economy (that is debts needs to be discharged, forgiven, re-negotiated, assets liquidated and divided up, etc).

We always have had a distribution problem when the rate of production of goods and services skyrocketed due to the use of fossil fuels. Specially since the start of the industrial revolution.

This distribution problem was masked by growth. Growth did provide opportunities for most in society to get enough money to not revolt and get too upset (at least in the industrialized countries).

We now must solve this distribution problem and we must keep in mind the dwindling fossil fuel supplies which has powered our material production/modernity so far.

I suggest the following:

A) we should start a social credit/Social dividend/guaranteed income program and give every U.S. citizen $500 per month regardless of income or regardless of any public assistance they currently receive.

B) Increase taxation to keep inflation in check. Increased taxation should include stiff consumption tax to discourage too much consumption by the rich and upper middle classes.

D) Start stringent energy conservation and run a low-grade industrial civilization with less yearly fossil fuel consumption.

C) This will buy us time to develop another cheap energy source and possibly resume growth or if we don’t find another another cheap energy source we will have time to learn how to live without machines, fertilizers and pesticides.

Mansoor H. Khan

Mansoor H. Khan said...

Naked Capitalism blog:

http://thearchdruidreport.blogspot.com/2014/01/the-song-of-snallygaster.html?showComment=1388923687523#c1685670683523571850

Mansoor H. Khan said...
JMG,

I glorified you and Oswald Spengler a little bit on the Naked Capitalism blogpost. It also contains my dumbed down verson of Spengler'r main idea:

http://www.nakedcapitalism.com/2014/01/michael-sandel-moral-limits-markets.html#comment-1801578

Salaam (Peace!)
1/5/14, 4:08 AM

Mansoor H. Khan said...

A Comment on Archdruid blog:

http://thearchdruidreport.blogspot.com/2014/01/the-song-of-snallygaster.html?showComment=1388925110207#c8509146716246974505

Mansoor H. Khan said...
JMG,

A very, very, very good summary of Spengler's ideas:

http://www.meta-future.org/uploads/7/7/3/2/7732993/oswald_spengler_in_macrohistory_and_macrohistorians_5_2_2013.pdf

Mansoor H. Khan
1/5/14, 4:31 AM

Mansoor H. Khan said...

A comment on Robert Bonomo's blogpost:

http://www.thecactusland.com/2011/10/revolution-or-disengagement.html?showComment=1323573248042#c7320463286728863447

Mansoor H. KhanDecember 10, 2011 at 7:14 PM
Robert Bonomo,

Yes. A return to spirituality is the key. One thousand years ago the west was the opposite of what it is now (shun the world, focus only on spirituality, it was a "bad" thing to be a businessman, the best thing to do was to be a monk, logic and reasoning was considered to be in conflict with faith).

Thomas Aquinas changed that. He proclaimed: "There is no conflict between faith and reason."

This is how the West's March to less-spirituality started.

It was not Greece -- Rome -- Enlightenment.

It was:

Greece - Rome - Collapse of Rome - Rise of Christianity - Reformation of the Church - back to Greece with ever lesser and lesser Christianity as time has passed on (which is of course the problem). The balance between focus on this world vs. focus on the next world was not maintained in the west.

It is now the job of the Muslims to help Christians focus back on God (How ironic?).

It was the Muslim Civilization which inspired Thomas Aquinas to help re-balance Christianity to be "more involved in the world" and not shun the world.

Irony of ironies Islam will help the west get back on track to god (inshallah).

Mansoor H. Khan

Mansoor H. Khan said...

Another comment on Robert Bonomo's blogpost:

http://www.thecactusland.com/2011/10/revolution-or-disengagement.html?showComment=1323574726161#c3383972838524713298

Mansoor H. KhanDecember 10, 2011 at 7:38 PM
Kinda of Continuation of My earlier comment:

It is so wonderful to see America interested in something other than Football and Basketball. I have waited for this "awakening" all my life.

Ian McGilchrist this issue from a non-religious angle:

“McGhilchrist observes that early on in a culture’s development (e.g. Greek, Roman, Post Renaissance Western ), a balance between the hemispheric modes of processing creates genuinely innovative and vibrant cultural progress”

McGhilchrist claiming that western society is not creating “genuinely innovative and vibrant cultural progress”?

Here is how I see the requirements for “genuinely innovative and vibrant cultural progress”

1. Right brain’s goal should be infinity (eternal life, eternal peace, infinite knowledge, eternal harmony, infinite beauty, infinite love, infinite abundance of everything good, infinite justice, etc.)

2. The Left brain should serve the above goal the best it can in this material world. As our knowledge increases (of course the right brain and left brain work together to increase knowledge). But it is the right brain which comes up with new ideas/models and the left brain performs the laboratory experiment to determine if the new idea will achieve the goal (point number #1 above). The left brain is the “implementer”. The right brain is however the judge and judges if the “new construction” in the material world has come a step closer to the goal stated in point number one above.

3. For proper “motivation” the right brain must believe that #1 is possible! It must envision heaven and really believe it exists.

4. The right brain knows that the goal cannot be reached in this world but that is ok because death is just a “phase transition”.

more at http://liminalhack.wordpress.com/2011/02/06/devils-advocate/#comment-193


Mansoor H. Khan

Mansoor H. Khan said...

A comment on Native Capitalism:

http://www.nakedcapitalism.com/2014/01/satyajit-das-strategy-idea-idea-idea.html#comment-1804857

Mansoor H. Khan
January 6, 2014 at 7:17 am
Banger said,

“a plan to achieve an objective”.

Strategy needs one more thing besides an objective. All strategies involve assumptions/beliefs/understandings about how the real world works (a theory of knowledge and reality in the parlance of contemporary philosophy).

So, given a goal (an objective) and a theory of knowledge and reality a strategy is a set of steps and actions to be performed to achieve the objective.

Also, “practice without theory is blind and theory without practice is empty”.

The quran says that even Allah has strategy and even he plots and plans and plays the grandest chess game of all where all other gamers are his mere instruments to achieve his goals.

Banger: I think you will be really interested in the ideas of Oswald Spengler beautifully summarized here:

http://www.meta-future.org/uploads/7/7/3/2/7732993/oswald_spengler_in_macrohistory_and_macrohistorians_5_2_2013.pdf

Mansoor H. Khan

Tony D said...

“Economics in general uses tools to measure growth that are inadequate at best and misleading at worst. As I've written elsewhere, the simple concept of inflation, except in a general sense, is so convoluted and so fraught with assumptions as to render any precise definition laughable. In economics as it is constructed today, we pay attention only to that which we can measure. If we can't measure it, surely it must be meaningless. We cling to our models and theories much as religious fanatics do to their understanding of the workings of God, as if somehow we can understand either.

“Some economists become obsessed with market efficiency and others with market failure. Generally held to be members of opposite schools – "freshwater" and "saltwater," Chicago and Cambridge, liberal and conservative, Austrian and Keynesian – both sides share an essential economic vision. They see their discipline as successful insofar as it eliminates surprise – insofar, that is, as the inexorable workings of the machine override the initiatives of the human actors. "Free market" economists believe in the triumph of the system and want to let it alone to find its equilibrium, the stasis of optimum allocation of resources. Socialists see the failures of the system and want to impose equilibrium from above. Neither spends much time thinking about the miracles that repeatedly save us from the equilibrium of starvation and death.”

Forecast 2014: The Human Transformation Revolution, Posted to Thoughts From The Frontline by John Mauldin on 01-05-2014

Mansoor H. Khan said...

Another comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html#comment-1812972

Mansoor H. Khan
January 8, 2014 at 5:58 pm
Malmo,

On of justifications for “sharing” C. H. Douglas gave was something like: The accumulated knowledge Capital of humanity which the industrial system uses to create goods and services should benefit humanity as a whole.

He also referred to this kind of a system as “Practical Christianity”

http://www.michaeljournal.org/dobbs.htm

Mansoor H. Khan.

Reply ↓
Malmo
January 8, 2014 at 6:11 pm
Mansoor,

My alluding to Social Credit was not so much advocacy for said doctrine, but rather to point out the fetish for a JG falls far short of dispensing with class society, which is my main thrust. A JG, by itself, is incremental at its worst. It’s the status quo ante from the New Deal. Reactionary nonsense. No thanks.

mansoor h. khan
January 8, 2014 at 6:28 pm
Malmo,

Get rid of usury (which social credit/100% currency can do) and money will not be worshipped as much. Class should be based on knowledge, wisdom, honor and contribution to the community and money.

Mansoor H. Khan

mansoor h. khan
January 8, 2014 at 6:29 pm
meant to say:
“and not money”

Mansoor H. Khan said...

A Comment posted on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html#comment-1812606

Chauncey Gardiner
January 8, 2014 at 3:01 pm
Thank you for parting the Curtain of Illusion on the bogus “Shortage of Money”; “Federal Deficit”; “National Debt”; and “Entitlements” massive “Big Lie” propaganda and persuasion effort that has been perpetuated. However, I have wondered if there aren’t real pressure valves; i.e., cheap and abundant energy, arable land, environmental degradation, etc. that are being reflected in the Austerity meme.

Reply ↓
mansoor h. khan
January 8, 2014 at 8:30 pm
Chauncey Gardner said:

“I have wondered if there aren’t real pressure valves; i.e., cheap and abundant energy, arable land, environmental degradation, etc. that are being reflected in the Austerity meme.”

I believe this is the case. Debt based monetary system at the current global scale (which requires constant global economic growth) is not viable when natural resources are not plentiful and constrained.

If so the global elites and the leadership of this country need to start educating the masses about probable lower material standard of living in the near future. We (the masses) also need to figure out an equitable way to divvy up whatever remains of energy, arable land, etc.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html#comment-1813322

mansoor h. khan
January 8, 2014 at 8:49 pm
skippy said:

“Cosmology is void of agency”. Not true. Per the Quran the universe has been constructed (by Allah) such that practice of justice and mercy lead to a better life for both the elites and the masses. And opposite (injustice and meanness) lead to social instability hurting not just the masses but also the elites. We are all utterly connected with each other and with each thing in the universe.

Even if the quran (and other scriptures like the bible/torah/hindu scriptures, etc) had not existed/been revealed humanity would have discovered/learned (and is continuously discovering and is learning) that practice of justice and mercy lead to a better result/life for all via experience and trial and error.

I am amazed how much the masses are waking up to (since the financial crash of 2008) the shenanigans of the banking cartel and elites who enable them.

We the masses much continue on this path of “truth searching” and questioning and thinking and building consensus and bringing about a more just economic system. The quran calls this process “the greater jihad/struggle”. The matrix will be broken one day (inshallah).

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html#comment-1813455

skippy
January 8, 2014 at 10:06 pm
Anthropology does not support your claims on human dominion.

http://members.bib-arch.org/publication.asp?PubID=BSBA&Volume=20&Issue=3&ArticleID=4

Lets not even get into yugas, mahayga, kalpa, brahma, cyclicity and . the associated despair and despondency tendency’s which transcribes directly to the associated fatalism also permeated by the Babylonian, Egyptian and Mayan cosmologies.

skippy… as always we are completely at odds on this topic, although the other ecological observations are largely in agreement.

Reply ↓
mansoor h. khan
January 9, 2014 at 7:40 am
Skippy said,

“the associated despair and despondency tendency’s which transcribes directly to the associated fatalism”

I and the (quran) reject the passive fatalism you describe. Notice that I am promoting thinking, questioning, theorizing, consensus building (teamwork) and doing and re-thinking (re-evalauting), re-questioning, re-theorizing, continuous consensus building (teamwork) and doing (working/building physically) and struggling (the greater jihad) until one’s last breath on earth so one may please the Allah and gain entry into heaven!

Per Islam: The way you serve god is by serving man.

More at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/randy-wray-greatest-myth-propagated-fed-central-bank-independence-part-1.html#comment-1821469

mansoor h. khan
January 11, 2014 at 6:28 am
Skippy,

You are making this too complicated. The acid test of any idea is akin to the “survival of the fittest” idea. In other words has the idea (religions/sciences/democracy/monarchy/economics, etc.) produced more good than bad. It is just this simple. I will suggest to you that religions have over the lifetime of humanity have added much more good than bad in terms of social stability, peace of mind and general satisfaction with life.

I will go a step further. Due to coming material scarcity I expect (soon to come more energy scarcity and environment degradation and general resource/raw materials/arable land/good soil scarcity) not only will religion will return with vengeance but faith (in afterlife and cosmic redemption and justice) will become a “survival advantage”. That is my not so humble prediction/expectation. I expect much suicides in the coming decades among the rich and well to do as the global banking system collapses/resets (and many paper assets lose most of their value).

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/randy-wray-greatest-myth-propagated-fed-central-bank-independence-part-1.html#comment-1821720

mansoor h. khan
January 11, 2014 at 8:11 am
Skippy said:

“your exhibiting the fatalism”

I have already addressed this here. Did you read the comment in the below link?

http://www.nakedcapitalism.com/2014/01/diagrams-dollars-modern-money-illustrated-part-1.html#comment-1813455

Skippy also said:

“no one knows how it will all workout in the end”.

Allah knows. Yes. I don’t know with 100% certainty. One of the things the universe has built-in (due to HIS mercy) is laws (as in the law of gravity), consistencies (certain management styles lead to a better result) and patterns (certain things go in cycles). Per these laws, consistencies and patterns I am allowed to/encouraged to make plans & predictions (per Islam) as long as I understand that my knowledge is ALWAYS limited and I say inshallah (implicitly in my mind and heart and sometimes explicitly).

Yes I am asked by Allah to think, plan, strategize, educate, build consensus and act as best as I can and leave the rest to Allah (i.e., I am asked to do my part and he has promised to do his part as he sees fit). I address this points here:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/randy-wray-greatest-myth-propagated-fed-central-bank-independence-part-1.html#comment-1821814

mansoor h. khan
January 11, 2014 at 8:50 am
Skippy said:

“Hard data vs a collection of unquantified story’s from thousands of years ago, its not a difficult choice.”

I am an electrical engineer by training and a hardcore IT/ERP geek as well. I love hard evidence.

Here is some hard evidence for you from someone from a very respected western culture (the logical and practical culture of the Germans).

Historian and philosopher, Oswald Spengler, talks about (and has documented many) spiritual/religious cycles of civilizations (including the western civilization). Read this:

http://www.meta-future.org/uploads/7/7/3/2/7732993/oswald_spengler_in_macrohistory_and_macrohistorians_5_2_2013.pdf

I am perplexed that this guy is not talked about more in western discourse and thinking!

It is a very non-linear interpretation of history that un-like the very linear one you (and most westerners) subscribe to.
Also, I have a dumbed down version of his ideas here:

http://www.nakedcapitalism.com/2014/01/michael-sandel-moral-limits-markets.html#comment-1801578

Also, recently discussed on a blogpost of a very popular blogger:

John Michael Greer in his blog (http://thearchdruidreport.blogspot.com/).

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/gail-tverberg-eia-iea-researchers-modeling-wrong-growth-limit.html#comment-1837194

Mansoor H. Khan
January 17, 2014 at 11:41 pm
Banger,

“Discussion has to start, these days, with meaning of life issues.”

Yes. But I really think that question of meaning of life will be forced upon us by physical realities of resource depletion and environmental degradation (Read: starvation, destitution, people freezing to death, massive crime, etc).

If we don’t adjust politically & economically & banking systemwise & psychologically & culturally we will have far too much chaos to have any semblance of law and order.

May god help us and guide us!

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/gail-tverberg-eia-iea-researchers-modeling-wrong-growth-limit.html#comment-1837269

mansoor h. khan
January 18, 2014 at 12:32 am
j gibbs,

“The way things are going there will soon be plenty of space, far fewer people in it”

Two major differences between our civilization and the non-industrial past are:

A) Far greater portion of humanity today lives in cities than it ever did.
B) Rate of material goods production was very low compared to our industrial civilization’s

There is still (even today) plenty of empty space on the planet. You just have to live “off the grid”.

Mansoor H. Khan

Mansoor H. Khan said...

A comment from Nake Capitalism:

http://www.nakedcapitalism.com/2014/01/blogs-like-naked-capitalism-depend-net-neutrality-reason-enough-destroy.html#comment-1839288

mansoor h. khan
January 19, 2014 at 2:12 pm
Banger Said:

“Since money dominates our political life we need to create alternate ways to assert our interests”.

Banger, I think sometimes in the “fog of war” we forget that there is truth. And it does matter. Even if you don’t believe in a higher power (like god or Allah or Bhagvan) most people do eventually realize with enough life experiences that certain principles and modes of behavior lead to a better result. And the opposite of those principles and modes of behavior lead serious issues all around.

As we descend into more and more opression by the 1% in control. I believe we will see an awakening. I am not sure about the timing but given the increased pace of resource depletion and environmental degradation our current economic system will likely fail within a decade leading most likely to great social chaos and the pace of change will greatly accelerate as people begin to open up to new ideas and ways of organizing their lives.

This is what has happened throughtout history like during the post-Roman empire collapse and during the iron-clad-hold of the CHURCH during the late medieval period (i.e., the protestant reformation).

The great change that I believe is coming will likey take decades rather than centuries due to much, much greater centralization of money & banking and production processes (agricultural and non-agricultural) and global control of resources by a very small minority than we ever had in entire recorded human history.

The bottom line is: The more insanity from the elites the faster the change will be!!!

What to do in the mean time for people like us? We should educate ourselves about the issues around us and be ready with a set of ideas to start discussions and (inshallah) consensus will build very fast when the right time comes. People like us are like prophets of the ancient times as we will teach the people how to think differently about things around them to improve their lives.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1840092

Mansoor H. Khan
January 20, 2014 at 2:48 am
Salty Justice said:

“The only real answer is a differently organized structure of work.”

Is it? I think we need a different model for distribution of goods and services produced by an automated economy. Yes, a differently organized structured is needed for having people busy and doing something. It does not even have to be economically justified within the current narrow definition of “monetary profit”.

Clifford H. Douglas and others have come up with essentially a “gift” economy idea. Sometimes known as social credit in relationship to our current banking system which would simply deposit money in a citizen’s bank account on a regular basis.

Just like god has gifted the natural world to humanity the super productive humans would have to be convinced that the right way to distribute the fruits of an automated economy they disproportionately help to create using automation as leverage should be “gifted/shared” with the rest of humanity.

Also, automation and business process/business management knowledge is based on accumulated human knowledge and experience.

We cannot have both a hyper-automated economy and current debt-based credit & salary based economic distribution model. This became clear to many thinkers like Clifford H. Douglas way back in the twenties.

Keynesian government spending model to “fix” a slowing economy is trying to do same thing (social credit) a different way.

The current spending on Social Security, Welfare and food stamps is really “social credit” by another name. We simply have to formalize this idea and have a “dignified basic guaranteed income” for all citizens. This is very possible in industrialized countries of the world.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1840150

bulfinch
January 20, 2014 at 3:19 am
This study leaves out a little something called discernment, which, when pegged against the specter of automation, will always win out. People — but particularly younger people — want things made by people whose satisfaction is derived from the manufacture of said thing, because those things are almost invariably possess an emphasis on quality. That quality in turn becomes a standard, and that standard eventually becomes a benchmark by which all other similar things are measured against. At the root of quality is care, passion and imagination. Good luck automating these.

It’s the quality of a specific good or service that dictates the broader sensibility of the buying public, and I doubt very much that the majority will ever come to associate quality with automation — not where it counts anyway. If you want to automate the manufacture of aglets, well, okay, but editors? Forget it…dentistry? Certainly not!

Reply ↓
Mansoor H. Khan
January 20, 2014 at 3:24 am
Bulfinch said;

“At the root of quality is care, passion and imagination. Good luck automating these.”

True. But the iphone is all of the above but it is still made by a highly automated factory.

Mansoor H. KHan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1840156

Mansoor H. Khan
January 20, 2014 at 3:24 am
Bulfinch said;

“At the root of quality is care, passion and imagination. Good luck automating these.”

True. But the iphone is all of the above but it is still made by a highly automated factory.

Mansoor H. KHan

Reply ↓
bulfinch
January 20, 2014 at 3:42 am
I’ll have to disagree. The iphone is a highly useful and slick consumer durable, but I think anything designed around built-in obsolescence (meaning you can’t still use it ten or twenty years from now if you so choose) and shoddy components (at least in the case of mine) fails to qualify as a benchmark of quality.

Reply ↓
mansoor h. khan
January 20, 2014 at 4:24 am
Bulfinch said:

“well, okay, but editors? Forget it…dentistry? Certainly not!”

Even dentistry uses a ton of automation (software and hardware tools) and other tools to help the dentist be more productive and do higher quality work more consistently and more accurately and with less mistakes.

Automation even helps editors with spelling and grammar checks, extracting table of contents from the main body of the document, etc.

What I am saying is that:

The labor expended for “care, passion and imagination” can be made more productive via automation and via improved processes supplemented by automation.

Automation is a tool which can be used as leverage to magnify the “care, passion and imagination” embedded in human labor.

I am an ERP consultant, a process design consultant and a software designer and know first hand that automation is only a supplement to the total production process which still requires as you say “care, passion and imagination” to work properly by everyone involved in it and touching it.

By the way I love your description of the human contribution to the production processes: “care, passion and imagination”

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1840310

mansoor h. khan
January 20, 2014 at 5:14 am
bulfinch said:

“So my prediction is, that In a world increasingly bent on automation, character will become even more treasured to the point of becoming a sign of status; not just in owning said product, but in one’s possessing the level of discernment necessary to appreciate the nuance of said product.”

Agreed. But it does not have to be a mutually exclusive proposition. If someone likes a hand made iPhone type device (for example) they should certainly be able to have it if someone else is willing to provide it for whatever price the seller is asking for. I am cool with all that.

No one should be forced to buy a product.

Free market, Democracy, Consensus, Free will, Care (love), Passion, Imagination, Creativity, Choice, Entrepreneurship (discipline/production process), etc. are all related and complementary.

Mansoor H. Khan

Mansoor H. Khan said...

A Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1841501

mansoor h. khan
January 20, 2014 at 7:42 pm
rps said,

“The Gates, Jobs and Zuckerbergs of the world were not raised in a vacuum yelling Eureka.”

I am not talking about these guys! I am talking about highly skilled and creative lower level mostly non-management people in all kinds of enterprises.

I have saying: The PYRAMID has been turned up-side down.

We live in knowledge worker world.

It is lower level (mostly non-management) highly skilled creative workers who come up with innovative designs and innovative processes and act as glue/architects for the team to get stuff done who are the ones I am talking about.

Management’s job these days is to hire the right people, motivate them and adjudicate when issues arise and monitor the budget and milestones. Management is unable to give detailed guidance to knowledge workers on how to produce the desired result. Most managers (at least in IT) only negotiate scope and budget with the team and leave the rest to the team.

The the software industry has tons of senior technical personnel who are making more than people they report to. This is not that uncommon in IT and business process design jobs. This often takes the form of a contractor reporting to the manager. But the contractor is making more money than the manager.

I offer the following story as how far it is possible to go with right knowledge:

Per the Islamic tradition Jesus Christ (actually muslims refer to him as Son of Mary) had so much knowledge that he was able to mold a partridge (a bird) from a fistful of dirt.

Now that is the right metaphor for today’s knowledge worker!

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1841051

Banger
January 20, 2014 at 2:28 pm
All that because technology is used to achieve an ends, i.e., riches for oligarchs. We live to make the rich richer, in short. Our problem is with our collective goals–when we change them to the idea of bettering our lot making society more convivial then we everything will change. We aren’t there yet–people are hypnotized with the cult of wealth–that will be going away in few decades.

Reply ↓
mansoor h. khan

January 20, 2014 at 2:48 pm
Banger Said:
“cult of wealth–that will be going away in few decades.”
I hope and pray for sooner than few decades and before my last day on earth. Inshallah.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Economic Undertow Blog:

http://www.economic-undertow.com/2014/01/13/leftovers/#comment-35755

ellenanderson on January 20, 2014 at 12:23 pm said:
@EE: Well written article – thanks for the link. I would argue that it was the pope’s dispensation allowing the Medici banks to commit the sin of usury (in exchange for financing the decoration of the Sistine chapel ceiling) that kickstarted the ability of Western Civilization to pull off the industrial revolution. (They got lucky finding all of that gold in the new world to be sure.)
That pope was known as The Warrior Pope Julius II (also known as Giulio II and “Il papa terribile.”) He convinced Christians that they could buy their entrance into heaven – a view that persists to the present day.
What Machiavelli is studying is the behavior of humanity when usury is not a sin – ie when expansion not conservation is the main goal of human society. We are much more likely to encounter Savonarola in our future IMHO. We will see whether the merchant class can pull itself together one more time!

Reply ↓

mansoor114
on January 21, 2014 at 7:36 am said:
Ellen Andersen,

I agree with you about the Europe’s “new world’s gold find” which the banking system can then magnified via the magic of fractionalization as a major impetus to creating demand and thus economic growth.

The other major reason into west’s economic success in the past few hundred years is also the “love of the scientific method” (i.e., observe data, generate hypothesis, test hypothesis, rinse and repeat). This is the basis of Europe’s enlightenment. Of course, the scientific method leaves very little room for spirituality/religion as the basis of finding the “truth”.

Also, I think one reason the middle eastern and Indian cultures are unable to industrialize/organize with well managed very large private and government institutions is that these two cultures have a very tough time with extreme hierarchical structures. This probably has to do with a mindset that is more aware of god (a spiritual higher power) and is thus much more questioning of authority.

That is why I think a highly organized “holocaust” which Germany inflicted on Jews would be very, very hard to do in middle eastern and Indian cultures.

Other cultures (non-western and non-middle eastern and non-Indian) also accept extreme hierarchical structures well. Like the Japanese and the Chinese cultures.

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/philip-pilikington-libertarian-paternalism-clearly-oxymoron.html#comment-1842994

mansoor h. khan
January 21, 2014 at 6:09 pm
j gibbs,

Absentee ownership is not the problem. F. Beard is correct due to facism (government support to the banking cartel via lender of last resort and via deposit insurance and via outright bailouts) the interest rate paid by borrowers is extremely subsidized and way too low.

If businesses had to truly borrow at honest interest rates businesses would be much, much, much more willing to give equity to employees as compensation since cash would be too expensive to borrow interest rate wise to fund growth.

Also, Ben Johnson in the above comment said:

“Sure, the bank runs of the 19th Century which resulted in economic contractions in the 20-30% range were just swell for the people starving in the gutters.

Oh, you’re saying they don’t count. Gotcha.”

The ultimate solution is jail sentences for lending money with interest since even without being aided and abetted by government usurers (in biblical sense and Quranic sense) still will do plenty of damage to society and economy via bank blow-ups which will cause massive deflation.

The complete answer is: Punish lending of money with interest.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/philip-pilikington-libertarian-paternalism-clearly-oxymoron.html#comment-1843095

Skippy
January 21, 2014 at 8:24 pm
I view it not as a mathematical or system problem, but, one of more simplistic origin – ownership ratios.

http://elsa.berkeley.edu/~saez/atkinson-piketty-saezJEL10.pdf

skippy… Top 0.1% income earner share of total income is back to 1929 levels in the US per 2013.

Reply ↓
mansoor h. khan
January 22, 2014 at 1:16 am
Skippy,

Those two (artificially cheap money/credit due gov support of creditors and extreme ownership ratios) are highly related. One magnifies the other!

And of course it hurts even the rich when depressions deepen and destabilize society.

Usury is a bad idea all around. That is why the bible and the quran forbid it!

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/philip-pilikington-libertarian-paternalism-clearly-oxymoron.html#comment-1843307

mansoor h. khan
January 22, 2014 at 1:32 am
JohnB said,

“That’s true diptherio, but trying to reason with libertarians is a waste of time.”

Good thing is most Americans or most even non-Americans even subscribe to it. So we don’t have to worry about them too much.

If we are going to have a technologically driven civilization like ours and government issued currency then we cannot have a hands-off extremely small government that libertarians want.

We need to keep polluters in check, monopolies in check, make sure private parties are not counterfeiting the currency, dangerous technologies are not threatening our well being.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/robots-coming-white-collar-jobs.html#comment-1843331

mansoor h. khan
January 22, 2014 at 1:59 am
rps said:

“Strength lies in numbers.”

In order for “numbers” as you say to be effective they also need knowledge/truth of their situation (they need to know what is going) and they need teamwork.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/minimum-wages-effects-employment-labour-force-turnover.html#comment-1844493

mansoor h. khan
January 22, 2014 at 7:38 pm
TedWa said:

“Raising the minimum wage is like the tide coming in that raises all boats.”

A better way to lift all boats is a blanket guaranteed basic income dividend per month of something like $1,000 per month per Social Security Number regardless of income or regardless of whether the recipient is receiving any public assistance arleady

Raising the minimum wage will not raise aggregate demand & spending as much at all as the above recommendation

The above policy is a KISS policy and easy to implement. At the same time we should implement a national sales tax / VAT tax to curb spending by the rich to control inflation.

We should also raise the income tax rate on the rich on upper middle classes & well to do.

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/minimum-wages-effects-employment-labour-force-turnover.html#comment-1844512

mansoor h. khan
January 22, 2014 at 7:50 pm
Avg John,

Even without international labor arbitrage the relentless automation will drive down wages for most people except maybe for the automaters (computer specialists of all kinds who do the automating).

We need a better way to “return” the goodness created by humanity’s accumulated knowledge capital back to the common people. Say’s law even if was true (which it is not) will not do it.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/germans-stop-mowing-lawn.html#comment-1844546

mansoor h. khan
January 22, 2014 at 8:22 pm
MyLessThanPrimeBeef,

Yes. What is god?

As Islam Says: There is no God but God.

Islam essentially says that you have to be a little bit of an atheist first before you can find the one true god:

a. no it is not your genes or your race or your country or your empire or yourself or ancestors
b. no it is not your thoughts, ideas or culture or your know how
c. and of course it is not any physical thing you can see or observe with a scientific instrument

hmmm, seems kind a tough…yet he is suppose to be everywhere!

Sounds like Koan to me.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/philip-pilkington-behavioral-economics-victorian-moralising.html#comment-1846454

mansoor h. khan
January 23, 2014 at 11:12 pm
Banger said:

“Beauty (which can only come from love), truth is all we need to know.”

Banger you sound like an eastern philosopher. Many times I have used the word truth in my travels (in a ultimate truth sense) I get “strange” looks from people. Our civilization is doing less and less right brain thinking as time goes on. That is why as you have observed so confused.

But we forget that left brain always executes on what the right brain believes/pictures as truth and the proper goal. Three things are required to execute on the “goal” as decided upon by the right brain. These three things are left brain directed:

1) Rationality (in the narrow non-philosophical sense)

2) Categorization/taxonomy (things in the natural world have to be categorized so they can be managed — things to be measured)

3) Measurement (as in spreadsheets as you discussed)

Therefore there is nothing wrong with the behavior/desire to classify/categorize and measure everything and increase efficiency in order to reach the right brain decided goal.

I explain this idea to my friends and co-worker this way:

We should create a highly efficient and automated economy but “gift” its output to the people!

In order to “break out” of the current paradigm (worldview or way of thinking) we must depend on the right brain and ask “big picture” why questions and think in terms of beauty, balance, grace peace, tranquility, justice and truth.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on the Economic Undertow blog:

http://www.economic-undertow.com/2014/01/13/leftovers/#comment-35760

mansoor114
on January 21, 2014 at 3:09 pm said:
Caste system (which I certainly don’t approve of) is not like a large government with a strict hierarchy with strong arms to follow orders strictly. It is a loose system with thousands of sub-castes and loose rules which everybody interprets differently much like how rules in religions are interpreted and applied with lots and lots of people opting out it or at least following those rules with some mercy and balance.

Very small percentage of population of India works for large businesses and government is mostly ineffective in most parts of India. Most people lead a simple rural/agragrian/small time trader lives by far.

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/myth-maximizing-shareholder-value.html#comment-1847671

mansoor h. khan
January 25, 2014 at 7:51 am
SirFlatulus said:

“I actually think maximizing shareholder value is the goal and that it is a good goal.”

Fine. But what are the rules of the game? Stay legal? Do what you can get away with?

Management can stay legal but still be extremely short term oriented or do downright immoral and unethical things with respect to employees, customers, suppliers, community, competitors and even shareholders.

The problem is one of culture. Most people have to want to be just and fair and balanced for any civilization to work out. Rules and laws are only a supplement to keep people who are mostly good and honest to not be tempted too easily and for the small fraction that is bad to be punished appropriately.

The great depression and world war II was a consequence of bad behavior (extreme usury/debt and nationalism gone nuts). There will be consequences to our recent bad behavior as well. The universe has been constructed to punish bad behavior and reward good behavior.

Mansoor H. Khan

Danielle Hagmann said...

I have put a little theory together below. My inspiration was "Samay"(2003 film) because of Iraq...

Q: what is the difference between IMF vs World Bank?
A: none, the IMF is for ‘sovereigns’, and the World Bank is for ‘nonsovereigns’…

This is yet another distraction from the reality of top-down systematic control model’s breakdown
(call it neo-liberalism, Laissez-faire capitalism, Capitalism/Communism, Soviet communism/Chinese dictator capitalism, socialism, French socialism, fascism, isms…EU, UN, NATO, IMF or whatever)

After over a century wasting TIME & OIL/resources & SPIRIT perfecting proxy wars and crushing over anything in its way, Successful Capitalism itself ends up… cannibalized by itself (ironic)

Economy IS
Debt (automobiles, pollution, landfills, slums, droughts, deserts, smog, radiation, loan defaults, Detroit, failed states) (the 99%)
= Wealth (instant… large balance sheets, fancy cars, jets, expensive real estate, celebrities) (.01%)
= zero net. (no real success)(but TINA, class war)

The GAME of musical chair capital-ism or X-ism is not attainable without destroying all nations and all resources in the shortest of TIME – most Efficiently for the .000000001% TOP. The scores: the top ten whatever.

Top-down management/command-ism alone is caught in its own thermodynamics (diminished benefits) as well. It wants to manage its own image, its impotence, its own death… It is sustained by an army of the “best (costly)” minds, lawyers, scientists, CEOs, professional PR artists… and cynicism/envy… but so futile against its own weight (systematic corruption, entropy).

ILLUSION crashed only by REALITY (gasp).

We should look at ourselves first, the ones who fell for them for too long…

The poisons: Greed, Anger/Envy and Foolishness. I myself learned the hard way too.

Please remember that there is a truly beautify sky and living planet that we can conserve/husband as others have done for thousands of years.

It’s about time to not buy/tune in the tv (the loathing/envy), dump the cars (sloth) and especially the fear.

Get rid of the poisons, first. Bring in the sunlight in you and others.


The game: the "Masters of the Uni." wants to steal/enjoy and crush/remade everything in their own hands (money, time, spirit/soul, our imaginations... or anything that the people can come up with). Equivalent (delusional) substitutes for being a god?

In Switz., we had a referendum to pay everyone a certain amount of CHF/month but it didn't anywhere... But this is only the beginning. You have excellent/refreshing ideas, pls hold on to the light.

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/01/philip-pilkington-abstraction-language-modelling-economics.html#comment-1852280

Calgacus
January 31, 2014 at 8:20 pm
Modern economists fail or refuse to take into account this social component. This is a fatal flaw in their theories. Leaving out the social purposes of the economy allows for any level of inequality and concentration of wealth.

Basically all work in any field aims at being primarily descriptive – always “fails” – but what is closer to success than failure? Good economists, MMT don’t “leave out social purpose”. (Base) money is an accounting of (social) debt toward a member of society, awarded for advancement of social purpose. Same for private monies (“credit”) and private purpose. This in mind, we can see that we are not merely “allow[ing] ..for any level of inequality and concentration of wealth.” Inequality and concentration of wealth are our primary social purpose. High time for that to change, methinks, and noticing this really existing, really active social purpose is a most important step.

Reply ↓
mansoor h. khan
February 1, 2014 at 2:29 am
Calgacus said:

“Same for private monies (“credit”) and private purpose”

The lure of interest income from usury is so powerful that the elite love our money system. It places money and the power that it confers at the center of life and turns this tool called “money” into a a god.

I agree with F. Beard. Our money system concentrates wealth far more than it would be if money was government issued rather than privately issued.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/will-big-business-figure-education-industrial-complex-eating-lunch.html#comment-2003187

mansoor h. khan
April 18, 2014 at 2:46 am
Banger,

All this softee stuff is good but the main issue in life is how to fight injustice, bad people and evil. That is why the western civilization is so confused. Westerners don’t recognize evil and don’t fight it.

As per our economic system the main evil is usury. Usury which turns money into a god rather than a tool to help people.

more at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/will-big-business-figure-education-industrial-complex-eating-lunch.html#comment-2002346

Banger
April 17, 2014 at 10:21 pm
Indeed, education is about, ultimately about being–I, however, got there differently mainly through esoteric philosophies of the East–but it comes to the same thing. In the Bible when Moses asked the Burning Bush what to call Him, God answered “I am that I am.” Strangely, most people of the Book don’t get it–mystics got it but some of them were killed for that. Al-Hallaj said “I am the truth” by which he meant pure being and was executed for it over a thousand years ago

Reply ↓
mansoor h. khan
April 18, 2014 at 2:46 am
Banger,

All this softee stuff is good but the main issue in life is how to fight injustice, bad people and evil. That is why the western civilization is so confused. Westerners don’t recognize evil and don’t fight it.

As per our economic system the main evil is usury. Usury which turns money into a god rather than a tool to help people.

more at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Reply ↓
Banger
April 18, 2014 at 8:49 am
Mansoor, without a grounding in what is good you cannot fully recognize evil. For me evil is that which move towards separation and evil is the force that moves us apart. Without a full understanding of that we face clashing values, customs, religious texts and so on which, ultimately lead to more separation.

I don’t know if usury is fully evil but, at this time, its influence is as bad as you imply and we need, from a practical POV a debt moratorium and an alternate way of funding our political economy. Loretta Napoleoni has been an articulate supporter of Islamic finance–what I know about it I know from her.

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/joe-firestone-using-generational-warfare-divert-attention-oligarchy-corporatism.html#comment-2012346


masterslave
April 19, 2014 at 11:22 pm
“” Westerners don’t recognize evil and don’t fight it.”"

The Christian Science delusion is –
see no evil , hear no evil , speak no evil ….. so then there is no evil .

Christian Science is the only religion ever recognized by an act of the U.S. Congress around the year 1878 . No wonder the world is so messed up .

Reply ↓
psychohistorian
April 20, 2014 at 1:56 am
I think that unfettered inheritance is a core evil where usury just reflects the greed of credit.

Neutering inheritance would do more to tame the god of mammon than usury because then public commons become the backing for sovereign banking instead of the now semi private banking system that would be subsumed into the public commons. Actuaries, instead of the invisible hand/plutocrats of capitalism would set loan rates and contribution changes into programs like the original Social Security Insurance program……instead of bought politicians.

Reply ↓
mansoor h. khan
April 20, 2014 at 6:17 am
psychohistorian,

Property is used produce income when combined with labor (i.e., goods and services). Why worry about “property” if most “return” from property is fairly (evenly) distributed via “social credit” (gift) schemes anyway as proposed by Clifford H. Douglas in 1924 and many other economists in the first half of the last century and even earlier in history.

The owner of the property wants “cash” (currency) which the government can give him/her in return for real output for the people. Capitalism does work superbly. Usury does not work and causes the economic imbalance we see all around.

we need a different model for distribution of goods and services produced by an automated economy.

Clifford H. Douglas and others have come up with essentially a “gift” economy idea. Sometimes known as social credit in relationship to our current banking system which would simply deposit money in a citizen’s bank account on a regular basis.

Just like god has gifted the natural world to humanity the super productive humans would have to be convinced that the right way to distribute the fruits of an automated economy they disproportionately help to create using automation as leverage should be “gifted/shared” with the rest of humanity.

Another other setup is disaster anyway as we can see all around us.

Also, automation and business process/business management knowledge is based on accumulated human knowledge and experience.

We cannot have both a hyper-automated economy and current debt-based credit & salary based economic distribution model. This became clear to many thinkers like Clifford H. Douglas way back in the twenties.

Keynesian government spending model to “fix” a slowing economy is trying to do same thing (social credit) a different way.

The current spending on Social Security, Welfare and food stamps is really “social credit” by another name. We simply have to formalize this idea and have a “dignified basic guaranteed income” for all citizens. This is very possible in industrialized countries of the world.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/joe-firestone-using-generational-warfare-divert-attention-oligarchy-corporatism.html#comment-2012346

masterslave
April 19, 2014 at 11:22 pm
“” Westerners don’t recognize evil and don’t fight it.”"

The Christian Science delusion is –
see no evil , hear no evil , speak no evil ….. so then there is no evil .

Christian Science is the only religion ever recognized by an act of the U.S. Congress around the year 1878 . No wonder the world is so messed up .

Reply ↓
psychohistorian
April 20, 2014 at 1:56 am
I think that unfettered inheritance is a core evil where usury just reflects the greed of credit.

Neutering inheritance would do more to tame the god of mammon than usury because then public commons become the backing for sovereign banking instead of the now semi private banking system that would be subsumed into the public commons. Actuaries, instead of the invisible hand/plutocrats of capitalism would set loan rates and contribution changes into programs like the original Social Security Insurance program……instead of bought politicians.

Reply ↓
mansoor h. khan
April 20, 2014 at 6:17 am
psychohistorian,

Property is used produce income when combined with labor (i.e., goods and services). Why worry about “property” if most “return” from property is fairly (evenly) distributed via “social credit” (gift) schemes anyway as proposed by Clifford H. Douglas in 1924 and many other economists in the first half of the last century and even earlier in history.

The owner of the property wants “cash” (currency) which the government can give him/her in return for real output for the people. Capitalism does work superbly. Usury does not work and causes the economic imbalance we see all around.

we need a different model for distribution of goods and services produced by an automated economy.

Clifford H. Douglas and others have come up with essentially a “gift” economy idea. Sometimes known as social credit in relationship to our current banking system which would simply deposit money in a citizen’s bank account on a regular basis.

Just like god has gifted the natural world to humanity the super productive humans would have to be convinced that the right way to distribute the fruits of an automated economy they disproportionately help to create using automation as leverage should be “gifted/shared” with the rest of humanity.

Another other setup is disaster anyway as we can see all around us.

Also, automation and business process/business management knowledge is based on accumulated human knowledge and experience.

We cannot have both a hyper-automated economy and current debt-based credit & salary based economic distribution model. This became clear to many thinkers like Clifford H. Douglas way back in the twenties.

Keynesian government spending model to “fix” a slowing economy is trying to do same thing (social credit) a different way.

The current spending on Social Security, Welfare and food stamps is really “social credit” by another name. We simply have to formalize this idea and have a “dignified basic guaranteed income” for all citizens. This is very possible in industrialized countries of the world.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2013720

mansoor h. khan
April 20, 2014 at 6:41 am
Ignacio,

You can’t blame Microsoft for being successful. Humanity’s IP is constantly being exploited by all individuals and businesses and even entire civilizations all the time. The Greeks took knowledge from the Egyptians and others and advanced it.

The Romans took knowledge from the Greeks and others and advanced it.

The Muslims (in the middle) ages took knowledge from the Romans, the Persians, the Hindus and others and advanced it.

The west (during the Enlightenment) took knowledge from the Muslims and others and advanced it.

MS must not be charging too much for its products since there are plenty of alternatives out there (various Linuxes and Open versions of Office, open versions of almost anything MS sells).

Yes, we need to reign in obvious monopolies which don’t compete (like our banking system) and remove all gov support for them (lender of last resort, deposit insurance and bailouts) and let them starve to death and replace them with “public” institutions.

There is too much emphasis on who owns property in this post and in our thinking in general.

The main issue with our economic system is not “ownership of the means of production” but distribution of its fruits which usury has distorted so much.

Property is used produce income when combined with labor (i.e., goods and services). Why worry about “property” if most “return” from property is fairly (evenly) distributed via “social credit” (gift) schemes anyway as proposed by Clifford H. Douglas in 1924 and many other economists in the first half of the last century and even earlier in history.

The owner of the property wants “cash” (currency) which the government can give him/her in return for real output for the people. Capitalism does work superbly. Usury does not work and causes the economic imbalance we see all around.

we need a different model for distribution of goods and services produced by an automated economy.

Clifford H. Douglas and others have come up with essentially a “gift” economy idea. Sometimes known as social credit in relationship to our current banking system which would simply deposit money in a citizen’s bank account on a regular basis.

Just like god has gifted the natural world to humanity the super productive humans would have to be convinced that the right way to distribute the fruits of an automated economy they disproportionately help to create using automation as leverage should be “gifted/shared” with the rest of humanity.

Any other economic setup is disaster anyway as we can see all around us.

Also, automation and business process/business management knowledge is based on accumulated human knowledge and experience.

We cannot have both a hyper-automated economy and current debt-based credit & salary based economic distribution model. This became clear to many thinkers like Clifford H. Douglas way back in the twenties.

Keynesian government spending model to “fix” a slowing economy is trying to do same thing (social credit) a different way.

The current spending on Social Security, Welfare and food stamps is really “social credit” by another name. We simply have to formalize this idea and have a “dignified basic guaranteed income” for all citizens. This is very possible in industrialized countries of the world.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2014205

Banger
April 20, 2014 at 9:19 am
Indeed, I agree with you. The problem is not that there are “bad guys” and “good guys” as most Americans like to believe but that evil and good exists in all of us. The issue here is that the system we live under at this time tends to reward evil more than good (I define evil as a force that tends towards separation and good as tending towards connection). When we set up a system where evil thrives (Stanford Prison Experiment) even good people who tend towards the good can perform evil things. We need to understand the nature of this system–I think that’s our main task here and elsewhere we interact.

Reply ↓
mansoor h. khan
April 20, 2014 at 9:30 am
Banger,

I believe we (humanity) is being “punished/incentivized” by Allah (the creator of the universe) to question our systems. And most especially our economic system which poison’s every other system and all human relations and even our relationship to our environment and even our relationship to god.

The root of the mis-use of our great economic gains over the last 300 years can be traced to debt based currency (money issuance) and otherwise known historically and biblically/quranically known as usury.

Also, one thing we absolutely must give-up is the no-holes barred racism that is rampant on the planet. Nationalism is evil that turns humanity into a dog-fight and cock-fight (as in the two world wars and other modern wars).

Liberalism has not solved the problem of rampant racism on earth. Islam will not completely solve this problem either (I suspect) but it will greatly diminish it. This is because Islam teaches equality of souls before the creator. Only good character and good deeds will distinguish souls in heaven.

more at:

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2014453

Banger
April 20, 2014 at 10:57 am
In order to give up racism, nationalism and other forms of tribalism we have to change how we view identity. Most people identify with their family, communities, tribe, country and so on–to transcend those boundaries requires moral development outlined in Kohlberg’s stages of moral development. This cannot happen by fiat–people must buy into it. This requires, for example, outreach by organized religions to lift up the higher level of morality above the tribal.

Reply ↓
mansoor h. khan
April 20, 2014 at 11:19 am
Banger Said:

“This cannot happen by fiat–people must buy into it.”

I disagree it does kind of happen by fiat. The universe has been built this way by the creator. Throughout history people have been punished by god to re-examine their thinking and systems. Bad thinking and bad systems lead ultimately to a bad result and conversely good thinking and good systems lead to a better result (although not heaven, not before death anyway). For example, the corrupted late Roman empire or the corrupted medieval Church either collapsed or were re-formed.

I believe much more punishment is in store for us all (humanity) due to the our extremely bad behavior lately (usury / greed / atheism / hedonism, etc.).

Fasten your seat belt and pray!

Mansoor H. Khan

Reply ↓
TheCatSaid
April 20, 2014 at 10:27 am
Yes, yes, yes.

And explore the things we can do that are most unambiguously feeding a “good” system.

BTW one of the most important aspects of “money”, broadly defined, which I don’t see discussed much if at all–it provides a means of energizing our values and activities.

Reply ↓
mansoor h. khan
April 20, 2014 at 11:07 am
TheCatSaid,

Our current economic system is very good at instilling discipline in people and putting their energies (greed and desire to shine) to work for the masses. Money can be printed by the government debt free and given to “producers” in exchange for their output. The problem is that the bankers and usurer’s (the creditor class) of the world have high-jacked the “output/fruits” of the system.

We simply need to re-direct the output away from monopolizers and bankers and usurers and to people.

We should not tax income but tax consumption by the rich and upper classes. Income (money) accumulation is a “score” which puts peoples energies to work and motivates them (rightly so) just as “score” keeping does in sports!

It is good to get the accounting right! Super producers get the score/recognition (money) but people get the “real stuff” the goods and services.

Mansoor H. Khan

Reply ↓
susan the other
April 20, 2014 at 11:08 am
Imagine the harmonies we could achieve if everyone were gifted an income.

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2014483

susan the other
April 20, 2014 at 11:08 am
Imagine the harmonies we could achieve if everyone were gifted an income.

Reply ↓
mansoor h. khan
April 20, 2014 at 12:26 pm
susan,

Huge damage and a huge crime has been committed by global bankers and usurers (the creditor classes) against the rest of humanity.

Money should be printed by the government debt free and given to “producers” in exchange for their output. The problem is that the bankers and usurer’s (the creditor class) of the world have high-jacked the “output/fruits” of the system by “stealing” the money issuance system of the globe.

Not only we need to stop usury NOW but we also need to apply remedy and restitution to the harmed. We need massive global debt forgiveness worldwide and much re-distribution of wealth to restore balance to our economic lives.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2014464

susan the other
April 20, 2014 at 11:02 am
Thanks Mansoor. We argue the details of a system that cannot work. I’m wondering if there is even any such thing as a new patentable application of all our recycled ideas at this point. We do need a different distribution model. “We cannot have both a hyper automated economy and debt-based credit & salary based economic distribution model.” This sounds like the “productivity” paradox.

Reply ↓
mansoor h. khan
April 20, 2014 at 12:43 pm
susan the other,

Our job (people like us who think about this stuff deeply) is to educate and evangelize to all of humanity. At least for me, this is part of my ticket to heaven as explained in the Quran.

I hope we don’t have total chaos. That is too big of a test for me. I don’t think I can (mentally) keep it together if the banking system completely collapses overnight and checks stop clearing and I have to eat “grass” to survive.

At least I hope the global elites will keep adjusting the system si at least we will have time to educate each other. It may take several generations to get these ideas across globally.

Allah says in the Quran just do your best (try to do what I have asked) leave the rest to Allah.

It also says whatever Allah has done, is doing and will do is part of infinite mercy and there is infinite wisdom behind it. Here, we just need to do our best so we can enter heaven on the day of judgement.

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2014464

susan the other
April 20, 2014 at 11:02 am
Thanks Mansoor. We argue the details of a system that cannot work. I’m wondering if there is even any such thing as a new patentable application of all our recycled ideas at this point. We do need a different distribution model. “We cannot have both a hyper automated economy and debt-based credit & salary based economic distribution model.” This sounds like the “productivity” paradox.

Reply ↓
mansoor h. khan
April 20, 2014 at 12:43 pm
susan the other,

Our job (people like us who think about this stuff deeply) is to educate and evangelize to all of humanity. At least for me, this is part of my ticket to heaven as explained in the Quran.

I hope we don’t have total chaos. That is too big of a test for me. I don’t think I can (mentally) keep it together if the banking system completely collapses overnight and checks stop clearing and I have to eat “grass” to survive.

At least I hope the global elites will keep adjusting the system si at least we will have time to educate each other. It may take several generations to get these ideas across globally.

Allah says in the Quran just do your best (try to do what I have asked) leave the rest to Allah.

It also says whatever Allah has done, is doing and will do is part of infinite mercy and there is infinite wisdom behind it. Here, we just need to do our best so we can enter heaven on the day of judgement.

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khan

Mansoor H. Khan said...

My profile on Google:

I am a Pakistani American immigrant to the U.S. I have been a U.S. Citizen since 1978.

I am an Electrical Engineer by training (Bachelor of Engineering from Stevens Institute of Technology -- Degree with Honor).

I also have a Masters of Business Administration degree (MBA) from the University of Virginia - I was in Top 20% of the Graduating Class.

I am an ERP consultant. I work as a an IT Functional and Technical Analyst.

My top 10 favorite historical personalities are:

1. Prophet Mohammad (Peace be upon him). He is the human which Allah (God/Truth) loves the most. Also, he is the human being who loves the truth (Allah/God) the most.
-
-
-
-
-
-
-
2. Umar ibn Al-Khattāb
3. Isaac Newton
4. Clifford H. Douglas
5. James Clerk Maxwell
6. Franklin D. Roosevelt (FDR)
7. Albert Einstein
8. Abu Bakr as-Ṣiddīq
9. Alī ibn Abī Ṭālib
10. Henry Ford

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/joe-firestone-using-generational-warfare-divert-attention-oligarchy-corporatism.html#comment-2012567

JTFaraday
April 20, 2014 at 12:26 am
“I’m sure the oligarchs will be much relieved when the last of the boomers are gone… people who can recall a time of greater opportunity and equality”

I don’t know. I’m not a boomer, but I’m not 22 either. On one hand, I take a very dim view of the present, and so I can see where one might find oneself nostalgic for the glory days of true enlightenment before the fall, in the land of freely flowing milk and honey.

On the other hand, I’m also old enough to have personally experienced some nostalgia, have even been gifted with some artfully crafted reinterpretations of the past, and therefore understand something of the charms of Nietzsche’s “truth and lying in an extramoral sense,” something of its effects on that which one recalls, and of its psychological pull.

I don’t know how I ever manage to resist this.

http://en.wikipedia.org/wiki/On_Truth_and_Lies_in_a_Nonmoral_Sense

Reply ↓
mansoor h. khan
April 20, 2014 at 3:26 pm
JTFarady,

Does not look like Nietzsche suffered any adversity (violence, hunger, serious disease, etc.). If he did he certainly would have known the truth enough. Even if one does not believe in god there is always pain, hunger, bullshit, injustice, meanness, etc to contend with.

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/joe-firestone-using-generational-warfare-divert-attention-oligarchy-corporatism.html#comment-2012567

JTFaraday
April 20, 2014 at 12:26 am
“I’m sure the oligarchs will be much relieved when the last of the boomers are gone… people who can recall a time of greater opportunity and equality”

I don’t know. I’m not a boomer, but I’m not 22 either. On one hand, I take a very dim view of the present, and so I can see where one might find oneself nostalgic for the glory days of true enlightenment before the fall, in the land of freely flowing milk and honey.

On the other hand, I’m also old enough to have personally experienced some nostalgia, have even been gifted with some artfully crafted reinterpretations of the past, and therefore understand something of the charms of Nietzsche’s “truth and lying in an extramoral sense,” something of its effects on that which one recalls, and of its psychological pull.

I don’t know how I ever manage to resist this.

http://en.wikipedia.org/wiki/On_Truth_and_Lies_in_a_Nonmoral_Sense

Reply ↓
mansoor h. khan
April 20, 2014 at 3:26 pm
JTFarady,

Does not look like Nietzsche suffered any adversity (violence, hunger, serious disease, etc.). If he did he certainly would have known the truth enough. Even if one does not believe in god there is always pain, hunger, bullshit, injustice, meanness, etc to contend with.

Mansoor H. Khan
April 20, 2014 at 3:27 PM

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/joe-firestone-using-generational-warfare-divert-attention-oligarchy-corporatism.html#comment-2015377

Oregoncharles
April 20, 2014 at 3:43 pm
Nietzsche was essentially alone much of his life, went insane, and died of syphilis.
Considerable adversity.

Reply ↓
mansoor h. khan
April 20, 2014 at 4:26 pm
Oregoncharles,

Ok. Maybe he never had date.

I remember my first kiss was “electric”. Since then I wanted to work very hard (education, job etc) so I can marry a pretty girl.

In Indian culture (at least in the early nineties) even an ugly guy like me could be arranged to a (poor) pretty girl if one had decent job. I think it is even possible today.

I guess the the indian culture can be advantageous to ugly/nerdy guys like me when trying to find a mate.

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/paul-krugman-discusses-pikettys-capital-rise-inherited-wealth-bill-moyers.html#comment-2015708


AltoBerto
April 20, 2014 at 6:19 pm
“The main issue with our economic system is not “ownership of the means of production” but distribution of its fruits which usury has distorted so much.”

And how exactly are those two not incestuously related?

Reply ↓
mansoor h. khan
April 20, 2014 at 6:44 pm
Related but the same thing.

We can let a small percentage of people manage/own (as it is now) if that is the most efficient method.

And yes we can recognize them by giving them government issued money. That is good accounting and a good motivational tool.

And yes we have to make sure they don’t spend too much of it so it can be “gifted” to the rest of us.

And yes, we have to monitor resource use / environmental damage so they (and we) are discouraged from over-consumption via consumption taxes (not income taxes).

Justification for this is:

– While the wealth comes through the leadership skills/managerial skills/entrepreneurial skills of a small percentage of super producer humans they use;

A) they use common natural resources do it, humanity’s natural resources

B) they use humanity’s accumulated knowledge capital to do it

C) they use the common people do it, therefore somehow the well being of the common people (education, healthcare, police services, pensions, etc) must be taken care of

D) All of this is mainly consistent with the current economic paradigm of free market/entrepreneurship/risk taking, the part that is not working is that distribution of the output is based on debt based lending/credit. Also, monopolies need to dealt with so these guys (the managerial class) contribute/give more than they take.

E) debt based system usury is forbidden by the creator of universe (Allah, the god of Abraham)

F) Other systems have failed (communism) and the current system is becoming un-workable fast

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/ilargi-ukraine-part-united-states-desperate-solutions-sinking-alone.html#comment-2017421

Yves Smith
April 21, 2014 at 5:14 am
If the best you can muster as an MMT critic is the likes of Max Keiser, frankly you don’t have much of a case.

Reply ↓
mansoor h. khan
April 21, 2014 at 5:58 am
Yves,

I believe MMT is the correct description of reality. The part of MMT that I think is troublesome (in my not so humble opinion) is the part where we still accept bank credit (i.e., lending money with interest as being ok) as being part of the MIX that is OK to keep and do in the future.

I believe all money (currency) should be government issued debt and interest free. Furthermore, in order to stop the shadow banking system from pyramiding over the gov issued fiat and essentially creating liquidity/cheating (currency) we need to outlaw lending money with interest. PERIOD.

My justification for this (in my not so humble opinion) is world history but most importantly it is Allah per his commandments in the Torah, Bible and the Quran.

Our trade deficit is big but still it is only about 3% of our GDP. This means that if foreigners stopped accumulating our currency our standard of living will fall by only 3%.

America is still able to “earn” most of what it imports by exporting (contrary to popular belief)

The more important worry for me is will there be as much importable oil for America if fracking and renewables don’t pan out. Fracking I believe is a investment bubble like the dot com bubble and renewables are a dud too dependent on subsidies.

Oil/Gasoline price right now is much too how to allow economic growth. However, as I have discussed here at NC many times we can better (more fairly) share/distribute our stupendously whopping $16.8 Trillion GDP (alhumdolillah) via a “dignified guaranteed income program” to keep socially stable and avoid social chaos like it exists in third world countries. We can set a good example for them too to share “scarce” resources/production/output more.

If humanity does not find a source of “cheap abundant energy” with high net energy (EREOI) soon than we should become familiar with the words “economic contraction”. (opposite of economic growth slow economic contraction in the decades to come.

More at:

http://aquinums-razor.blogspot.com/2013/02/the-banking-system-and-economic-growth.html

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

Another comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/ilargi-ukraine-part-united-states-desperate-solutions-sinking-alone.html#comment-2017622

skippy
April 21, 2014 at 6:10 am
Hay…. the fact they can’t say gold out loud any more is a huge tell, resorting to resource-backed currency (perishables) instead. Yet at the end of the day its all arbitrary values floating about.

They don’t call it the sweat of the gawds for nothing Gordon…. crazy as the gawds, as good as the gawds during collapse, no fiatists in a foxhole thingy.

skippy… the Gods must be Crazy movie covered this cognitive terrain well methinks.

Reply ↓
mansoor h. khan
April 21, 2014 at 6:21 am
skippy said:

“Yet at the end of the day its all arbitrary values floating about.”

No it is all about being able to buy groceries and attract a mate. Dollars and most fiat currencies still work.

Don’t be too cynical. There is practical value to this stuff!

Yes, it may not last (given cheap energy depletion) then we will have something else “to buy groceries and attract a mate”.

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/ilargi-ukraine-part-united-states-desperate-solutions-sinking-alone.html#comment-2017846

financial matters
April 21, 2014 at 7:05 am
I think more to the point of MMT, Keynes and Post-Keynesian thinking is that if the resources and labor are available money (from the sovereign standpoint) shouldn’t be the stumbling block. An example for the US, EU and China would be that if cement is available and labor is available we shouldn’t be saying we don’t have the money to improve our infrastructure. Assuming this infrastructure is actually being used for public purpose and business activity. Unoccupied cities don’t count. And the infrastructure doesn’t need to be sold into private rent-extracting hands.

Reply ↓
mansoor h. khan
April 21, 2014 at 7:23 am
financial matters,

I agree with but in the real world (as shown by world history to date) the following will happen unless we manage it:

1) Bankers and usurers (the creditor class) love to be leeches off the rest of us. And usually end-up cornering the money (currency) issuance systems of nations. The lure of usury (easy money) is too strong to resist for too many people. As part of the cornering process they spread lies about about how the currency is issued and also lie about how an economy works so the gov won’t do deficit spending so they can issue more as bank credit.

2) Even if Bankers and usurers (the creditor class) don’t actually “corner” official currency issuance via the regular banking system of a nation they will still try to do it via the shadow banking system by pyramiding/fractionalizing the gov issued currency. This of course means the gov won’t issue as much since the productive capacity of the economy limits liquidity/currency creation and speding. And of course this is cheating by the shadow banking operators which always eventually collapses anyway causing massive deflation and need for bailout of these morons eventually.

C) Therefore it is best to follow the lord’s wisdom and outlaw lending money with interest. PERIOD.

Mansoor H. KHan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/ilargi-ukraine-part-united-states-desperate-solutions-sinking-alone.html#comment-2017989

financial matters
April 21, 2014 at 7:43 am
Thanks mansoor, good points. If we also had things like job guarantee, single payer health insurance, reliable social security programs backed by a productive workforce we would also have less need for such destructive high interest products like payday loans and less need to carry credit card balances.

Reply ↓
mansoor h. khan
April 21, 2014 at 7:56 am
financial matters,

Yes. baby steps. The lord wants us to solve our issues and show us how much knowledge and intelligence and wisdom he has given us but he won’t let this place become a heaven (not even close) because then we would have no incentive to seek him. Which better for us!

Mansoor H. Khan

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/still-working-hard.html#comment-2026069

mansoor h. khan
April 23, 2014 at 7:09 am
Banger,

By pointing to and showing a working example is how you convince people.

We need to make the rest of the world aware of how Scandinavian countries think and the “social” thinking they have. These guys are on the right path. These countries know Reaganism and Thatchrism is cluelessness. They know that without taking care of all members of a community the community is doomed. These countries have “shared” the fruits of industrial civilization much more within their community,

These countries even though industrialized have kept much of the pre-industrial “take care of everybody in the village” mentality.

Even though atheism is very strong in these countries intellectual honesty (and the Quran) compels to give credit where it is due. I dislike atheism.

We should not give up so easily. We need to study these cultures and figure out why they think so different from us.

Mansoor H. Khan

Mansoor H. Khan said...

Another Comment on Naked capitalism:

http://www.nakedcapitalism.com/2014/04/effective-remedies-inequality.html#comment-2026418

mansoor h. khan
April 23, 2014 at 8:37 am
Dan Kervick said:

“Aggressive progressive taxation will not only immediately address existing inequalities. It also restructures the system of incentives and helps prevent new inequalities from emerging.”

And we have a working example of the above even now in the western world itself:

The Scandinavian countries

By pointing to and showing a working example is how you convince people. Real examples is what convinces most people especially when they are screwed and open to new ideas.

We need to make the rest of the world aware of how Scandinavian countries think and the “social” thinking they have. These guys have been and are on the right path. These countries know Reaganomics and Thatcher-ism is tantamount to cluelessness. They know that without taking care of all members of a community the community is doomed.

These countries have “shared” the fruits of industrial civilization much more within their community.

These countries even though industrialized have kept much of the pre-industrial “take care of everybody in the village” mentality.

Even though atheism is very strong in these countries intellectual honesty (and the Quran) compels me to give credit where it is due. I dislike atheism.

We should not give up so easily. We need to study these cultures and emulate the useful/good features/thinking from them.

Even Japan is more “social” thinking than the Anglo Countries. But Scandinavian countries are much better at it. They have the right balance of individualism and “community spirit”.

Mansoor H. Khan

Reply ↓
amateur socialist
April 23, 2014 at 11:20 am
There may be a more recent and pertinent example: The reunification of Germany. It involved significant expenditure and financial stress (and the associated political turmoil) to reconcile inequality between East and Western German workers. It caused quite significant short term economic turmoil, at one point I think unemployment in Berlin approached 20% during the transitional period.

Seems to have worked out pretty well for them after the fact.

Reply ↓
NotTimothyGeithner
April 23, 2014 at 11:38 am
I think the Berlin unemployment involved a major influx from east germany, much like FDR’s policy against share cropping led to short term unemployment in certain urban areas as people moved on. The Berlin unemployment headline number was skewed because much of the unemployment was about people leaving their jobs and east Germany ventures retooling. How many steel mills does Germany need? When there two Germanies, at least two.

Mansoor H. Khan said...

Another Comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/effective-remedies-inequality.html#comment-2027630

amateur socialist
April 23, 2014 at 2:05 pm
Okay but whatever the mechanism, whether eastern workers moved west or stayed put and found better paying jobs the net result was the same. Lots of eastern german workers made more and became more affluent over a relatively short period.

This cost western german workers a little bit in raises and taxes, and the corporations a little bit in profits etc. but it happened. The country decided as a matter of policy to devote significant resources towards reconciling the inequality bred of 50 years of soviet privation. Maybe the US can find the political will to address the inequality bred of 40 years of corrupt business and developer friendly policies. Anything’s possible.

Reply ↓
susan the other
April 23, 2014 at 11:39 am
Northern Germany is virtually Scandinavian. Southern Germany is a bit more willing to be neoliberal. It’s the cold weather in the north that makes people come together mentally. Betcha. I know northern Germans really look down their nose at those “gemutlich” Oktoberfest displays of beer and vomit. Followed by more beer.

Reply ↓
allcoppedout
April 23, 2014 at 3:32 pm
I find myself wondering what life is about. I don’t do religion, finding it grimly trivial. Science tells us our planet is doomed. In shorter term we look like a bacteria colony poisoning its own environment. Longer term the sun dies and so do we unless we can find a way to travel to other worlds. Even then the universe flies to ‘heat death’ and we’ll (whatever we then are) need another one. So what are we to have faith in?

Why should we bother. The Gnostics hold we should not. Creation is a mistake and we should return peacefully to nothingness. Even this isn’t enough, as evolution tells us something else will rise after our demise.

Economics doesn’t help much with faith or why we should bother. Somehow, everything will be fine, yet we go to war, burn and poison the planet as we bow to this religion, doing jawbz we don’t like as cogs in the groaf engine. This is life disabled of faith in rationality. We can’t address poverty directly, or global warming by not burning fossil fuels. We scream silently watching the few monkeys with all the grapes.

Faith is peculiar Most of us surely know so little of economics we can’t have knowledge-based faith. I’ve found it very like religion in that familiarity with text breeds contempt. Anthropology and history tell us people will have faith in the weirdest stuff. One wonders why we can’t have faith in egalitarian systems and transparency. But then, faith also has opaque mystery.

Reply ↓
mansoor h. khan
April 23, 2014 at 4:36 pm
allcoppedout,

Well. I used to think like this in my teens. Then Buddhism taught me “Life is Suffering” (in my early twenties). I started (kinda) of believing in buddhism because all the bad stuff I saw on TV and all around me. I actually took a college course in buddhism to learn more about it. However, after marriage and kids and having a decent job I realized life is not completely suffering.

Then I really learned Islam (even though I was born in a Muslim family) I did not really get it until the late twenties. Islam teaches that life is a test and suffering is an incentive to search for the infinite perfect truth.

I have written about how I interpret Islam. You can read it here. I wrote it from a western mind’s perspective (atheist’s perspective):

http://mansoorkhan114.blogspot.com/2013/03/why-islam-last-update-31-2013-this.html

Mansoor H. Khna

Mansoor H. Khan said...

A comment Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/effective-remedies-inequality.html#comment-2027500

Reply ↓
mansoor h. khan
April 23, 2014 at 2:44 pm
Paul,

“unless they start educating themselves with history and the social sciences integrated into policy development.”

Thank you for a detailed reply. I agree with much of what you have said.

I believe the real “fix” is people to understand connected-ness of things (as Banger would put it). I have hope . Europeans are much further along in this process. Maybe, the World Wars is what has changed their thinking.

People in Scandinavian countries (including Germany) already practice a ton of what we have said we want in our live here in America. So I know it is possible here. I pray to Allah everyday that he guide us to act more sanely and responsibly toward our neighbors and toward the larger community.

Survival of the fittest is about principles, values, behaviors which bring the best out of a community. It is not about raw power or the size of bank account only. Even power can be properly used by an enlightened leadership. There is nothing wrong with power or money. These are just tools to build a more satisfying life for oneself and for other humans.

I have more hope we can change/reform our thinking and systems to be more like what northern Europeans have before it falls apart into a mad max dog fight.

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked Capitalism:

http://www.nakedcapitalism.com/2014/04/earth-day-can-grow-enough-food-avoid-human-planetary-dieback.html#comment-2032029

Banger
April 24, 2014 at 1:09 pm
Advances in robotics, materials science, and AI will make producing food far easier as we go on. These technologies, however need funding and nurturing by collectives of one kind or another. We have to remember that it is not to the advantage of the oligarchs to install new methods. Instead of using technology for toys let’s put it to work meeting real needs.

Reply ↓
mansoor h. khan
April 24, 2014 at 7:37 pm
Banger,

I agree with you. The problem is not ideas/creativity or physical resources. The problem is proper understanding of our situation, and teamwork and a proper goal and proper leadership.

Consider the following:

As an immigrant from Pakistan and having spent a couple of summers in India in my youth I have observed the following:

These countries have much, much more corruption than USA at all levels, governments are nothing more than leeches. They also have much, much more income inequality (yes more than the current USA). And very little/almost no governmental public assistance for the poor.

Also, these countries have much, much, much lower carbon footprint per capita than USA and there are 1,270 million people in India, and 180 million in Pakistan and 154 million in Bangladesh (a very large number people).

Therefore my conclusion is:

It IS possible to survive with much, much less in terms of resources per capita (water, arable land, fossil fuels, etc) than what we consume in USA . People in these countries do it somehow.

Also, with better leadership/management and better distribution of resource/income they can even live much better lives than they do now (without more natural resource input to the system).

Therefore, I think it is more a matter of WILL, CREATIVITY and TEAMWORK than anything else. We in the USA (alhumdolillah) have so much more natural resources per capita even if we stop receiving resources from over seas (like oil or whatever).

Mansoor H. Khan

Reply ↓

Mansoor H. Khan said...

A comment on Naked capitalism:

http://www.nakedcapitalism.com/2014/05/links-5314.html#comment-2079829

Banger
May 3, 2014 at 11:46 am
I don’t know about that. I think recorded history gives a misleading view of what life was like. The labels we use today may not match up very well with the existential lives of the people involved. How people actually lived is hard to measure–things like meaning and a convivial life are hard to measure from the POV of a society that demeans meaning and conviviality or, in fact, anything that can’t be reduced to “data.”

Reply ↓
allcoppedout
May 3, 2014 at 12:23 pm
There’s a lot to agree there Banger. How, say, could you, me and Craazy even imagine a life in which we went looking for lions at breakfast to slice off a hunk of their last kill for us? Quality or what! I’m on my third set of teeth now and know I’ve lived too long. The affluence in privacy if you’re lucky stuff completely puts me off.

Yet social history is generally worse than we know and is dominated by upper class gloss. We have the wrong enchantment now and I think part of that is we ever had it good in the past, at least after the time when we negotiated breakfast with the lions and women scurried about for the red currant sauce.

Reply ↓
mansoor h. khan
May 4, 2014 at 8:01 am
Banger,

A guy named Dr Jim Sheedy has studied this aspect of life which (meaning and conviviality) and non-materialistic thinking. The following article discusses his thoughts:

http://www.drsheedy.com/todays-world/can-the-left-brain-lead-human-destiny-.php

mansoor h. khan

Mansoor H. Khan said...

5 /5/2014
This is a thought documentation entry. These entries are thoughts to be later incorporated into a book about religion and Islam.
Soon after the first world trade center bombing in 1991. Time or Newsweek (I forget exactly which one) published their magazine with one of the issues with cover sub-title of “Oh No, not again” and the cover picture showed two medieval fighters (warriors) fighting. One of the warriors was crusader looking and the other was Arab Muslim “looking”.
I read the article inside and it discussed the long 1400 year-long rivalry and conflict between Christianity and Islam. The “Oh No, not again” title was a reference to the world trade center bombing in 1991 and re-start of this conflict getting “hot” again (maybe!).
But what caught my attention is not the main article but there was a sub-article with an inset box within the main article on right side of one the pags which discussed a Christian nun’s thoughts and views per Islam and its contact with Christianity.
The Christian nun discussed Islam contribution to Christendom and she said that Christianity had become too “other worldly” in the middle ages. Other worldly means shunning involvement in this world in favor of focusing on the next world (heaven, worship, etc).
The nun implied that it was Islam with its way of balancing of doing things in this world (running a business or running an empire or doing scientific inquiry) yet still focusing on the next world and working toward heaven inspired Christendom to become more this worldly as well (Classical thoughts came back, scientific inquiry came back, etc.).
But then (according to her) Christendom has become far too much this worldly and has become much to engrossed in materialism and hedonism and shuns faith and spirituality as not being scientific.
And she suggested that in “irony of all ironies” it will be Islam’s example (again) which will bring Christendom to back to a balance so its people (Christians) will become more spiritual.
Of course from a Muslim point of view this was a beautiful conception/interpretation of history this nun had and one would wonder why she had not converted to Islam (but that is another question and not my main point).
Relating to above is my interpretation of flow of knowledge in the Middle East and Europe and Far East:
The Greeks took knowledge from the Egyptians and others and advanced it.

The Romans took knowledge from the Greeks and others and advanced it.

The Muslims (in the middle) ages took knowledge from the Romans, the Persians, the Hindus and others and advanced it.

The west (during the Enlightenment) took knowledge from the Muslims and others and advanced it.


Angela Navejas said...

Nizza Info ! Ci sono molte aziende nel mercato azionario in cui le persone usano per fare offerte per ottenere il massimo profitto.

QUANTI SOLDI SONO ABBASTANZA | LA DISOCCUPAZIONE FA IMPENNARE LA BORSA | PORTAFOGLIO UP DATE