Friday, 30 September 2011

The #OccupyWallSt movement, and their single grain of truth [updated]

Phoebe Fletcher, Tumeke’s little-seen token feminist, Martin Bradbury, the grown-up child known to other children as “Bomber”, is upset that too few are too disinterested in “the #OccupyWallSt movement... The protests have had little coverage in their initial days by mainstream media,” she whines, “and are only know beginning to be discussed.”

Well, let’s then.  I doubt the overgrown children protesting outside Wall Street even know why they’re so angry at the bankers and financiers.  They’re angry that the bankers are getting rich while all around them are growing poor? Well, isn’t it their own big-government heroes who’ve been shovelling out the money in the bankers’ direction? They’re angry that bankers have been shovelled trillions while all around them there are people struggling to make ends meet. Well, isn’t it their own economic theories (if so they can be called) that call for those trillions to be shovelled that way?

Don’t you think they might pause to contemplate that for a moment?

But if they only knew it, or were prepared to sit still for a minute to learn something [something the grown-up children are congenitally unable to do, for which I for one blame their (mis)education] there is a very good reason to be very angry indeed at the bankers. It comes down to the way money is created in our fiat money fractional-reserve system, and who gets to start spending it first…

As George Reisman explains in his comprehensive book Capitalism [online here], their anger should not be directed at capitalism but instead at the system that caused the collapse, and those who benefit from it:

Their anger should be directed only at that which makes it more and more difficult to [buy the necessaries]. What they should be angry about is not the existence of a market economy and the way the market economy works [or would work, if it had been allowed to] but at the presence in the market of a vast gang of dishonest bidders and dishonest buyers, a gang that bids and spends dollars created out of thin air in competition with their earned dollars…  The source of those dollars created out of thin air is none other than the government. And the dishonest gang consists of it and everyone else who demands and received such fiat money.
    In other words, it is [ artificial credit expansion ] and the pressure-group demands for it that the victims should denounce, not the market economy …  It is the entry of newly created money into the economy that they should seek to stop…  Instead of, in effect, calling for the closing of the market, they should simply call for an end to the government’s inflation of the money supply, and thus for an establishment of a fully free market. [pg. 205, emphasis in the original]

That’s where their wrath should be directed. Instead, to the extent their protests were to be successful, they would succeed only in giving even more power to those who have presided over the present system.

Such is the result of a lack of real learning.

UPDATE:  “#OccupyWallStreet Is a Church of Dissent, Not a Protest,” says Matt Stoller at the Naked Capitalism blog. [Hat tip Vodka Pundit]


  1. PC that blog post from Bomber is from his co-blogger Phoebe Fletcher, who's doing a PhD at Auckland University in Toilet Cleaning and Rubbish Collection. It is fucking unbelievable that University is running a dumbfuck and useless Department to waste taxpayer dollar on dumbfuck like Phoebe Fletcher. I suggest that Phoebe Fletcher will be better work as a hooker in K'Rd at night time than wasting taxpayer dollar studying useless subjects from a Department that's not supposed to be at a University level.

    It is amazing how uneducated dumbfucks are enrolling at the Auck University Department of Film/Media Study. One just have to browse around the site of that Department and see what I mean. They're full of dumbfucks studying nothing but useless toilet cleaning topics. This PhD leftist candidate is doing her PhD thesis on Queer Timing: The emergence of lesbian representation in early cinema. Fucking waste of taxpayer $ for no return at all to the taxpayers.

    This Department should be chopped as it is useless and not deserve a University status. It should be in the polytech. According to Prof. John Butcher (a world renowned & distinguish mathematicians), who has retired from the Mathematics Department (also established the Computer Science Department) that University has expanded into other areas (since he's been there from the 1960s) into other areas that's not regarded as academic or University level material and he pointed out most Departments in the Arts Faculties.

    He told me that University was slim in those days where they concentrated mainly on science, engineering & technology. However these days, new Departments have sprung up with new coarses ranging from useless Pacific Studies, Gender Studies, Film/Media Studies which drain funding from core areas as science, engineering & technology.

    Prof. Butcher is correct, that University should go on a diet to slim down and start chopping most or all of those useless Departments and return University to concentrating on science, engineering & technology, rather than opening of new Departments for purpose of putting bums on seats. Its damaging to the University long term.

  2. Now I’ve learnt that there is a domain of study called Orgasmology and there is a Professor in that Department of Film/Media who specializes in that area.

    Her research topics include:

    - Counterfeit Pleasures: Fake Orgasm and Queer Agency

    - Critical Extasy’: Orgasm and Sensibility in Memoirs of a Woman of Pleasure

    Again, it is a waste of taxpayer $ to fund these useless fuckwits who's got nothing meaningful to study about. Besides, they don't need to spend huge amount of money studying Orgasmology. All they do is give Falafulu a call and I'll go over to their Department and show them what Orgasmology really is. All they need to do is to get me drunk first (perhaps with a bottle of whiskey). The whiskey cost nothing compared to hundreds of thousands of dollars that they spend on Orgasmology survey study.

  3. Sounds like you may have had a whiskey or two already!

  4. Falafulu, stop trying to be an elitist academic wanker. Whether you like the film and media studies or not, it does help the economy with many graduates coming out to find work in the movie industry both here locally and overseas.


  5. They’re angry that bankers have been shovelled trillions while all around them there are people struggling to make ends meet. Well, isn’t it their own economic theories (if so they can be called) that call for those trillions to be shovelled that way?

    The assumption that the protestors are all big government supporters is unwarranted.

    Earlier today I was reading reporting on interviews with them which reflected a wide range of opinions.

    One was a man who feels he was cheated out of millions when his business was destroyed by Wall Street shenanigans (some ill defined shorting scheme the reporter didn't detail) and his anger is at rules he thinks favours entrenched interests against the entrepreneur.

    An opinion I would think this blog shared.

  6. "...many graduates coming out to find work in the movie industry..."

    There would be precious few of these morons who would learn anything useful to the film industry in these courses. As usual, the real innovators in any practical field (ie not theoretical science) don't learn their craft at university.

    And FF, you could probably justify a few classical arts courses, as long as the rest of us aren't forced to pay for them.

  7. walking here with a smile. take care.. have a nice day ~ =D

    Regards, (A Growing Teenager Diary) ..

  8. Hal Incandenza30 Sep 2011, 22:23:00

    Dumb fuck toilet cleaner dumbfucks uneducated rubbish collector dumbfucks useless dumbfucks hooker toilet dumbfucks! Did I say dumbfucks? Toilets.

    That's why I come here. The unarguable logic of the objectivist!

  9. Peter Schiff before congress on Jobs,

    13th Sept.

  10. That Congressman Mr Cummings is one of those dumbfucks. Peter Schiff is trying to educate the dumb Congressman but he kept coming up with idiotic questions.

  11. Falafulu, I'm not sponsored by the Government. I work to do my thesis and have worked seven days a week to do so for the last four years. Get your facts straight. The other point is this is 1400 cities now worldwide, so the reason I was complaining is because I watch social networking closely and I could see this coming.

  12. PS considering you think our Department is useless without actually knowing anything about it, you might think that the fact I could tell you that this would grow means that people who have expertise in media are going to be quite useful in terms of geopolitical strategy in the coming future with 17 Arab nations having protests, to give just one example.

  13. PS Falafulu if you could remove some of your defamatory and simply untrue comments that would give your argument some credibility. I gather you have some issues with women that are inappropriate to take out on me.


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