Archive for category The Politics Of Catastrophe
The Federal Reserve Set to Expand Quantitative Djenting
Posted by Maximus Frank in The Politics Of Catastrophe on March 31, 2014
The Federal Reserve plans to scale up its Quantitative Djenting program in the second quarter of 2014, Chairwoman Janet Yellen announced at an appearance before the House Financial Services Committee Monday. “We still predict slack in the economy going into the Summer, so we will continue with the program to try and cut it off at the pass,” said Ms. Yellen.
“Quantitative Djenting”, or “QD,” is a subsidiary initiative of the Fed’s controversial Quantitative Easing program. Since the beginning of the financial crisis in 2008, the Fed has been injecting money into the financial bloodstream to purchase things like treasuries, securities, and mortgage-backed securities. Although meant to stimulate job growth and economic recovery, the program has come under intense scrutiny by critics who claim that the program could lead to inflation, while providing cheap money to Wall Street firms.
Included in the program, but buried in a subsection of dense legalese, was a plan for Quantitative Djenting. “QD” is a rather convoluted financial process whereby the central bank bankrolls recording contracts, studio fees, publicity, merchandising, and tour support for the structured investment vehicle known as “Djent.” As the output of these “bands” tends towards “0000” sub-prime Guitar Riff Derivatives, the Fed was able to achieve synergy with the program by lowering interest rates to near-zero.
“QD was really a response to a financially-strapped metal landscape, following the collapse of the Neo-Thrash and New-Nu-Metal bubbles,” claims Trafferson Foster, of the statistical research firm, Foster & Fosterson Global Markets. “The Fed pretty much caved to pressure from Major and independent labels alike to do something in the wake of the crash.”
Although former chairman Ben Bernanke claimed that QD was never intended to expand beyond its initial investments – which included Wall Street-owned companies like Animals as Leaders, Periphery, Tesseract, and Textures – the subsidiary program has expanded each year since its inception. This has led Wall Street analysts to speak affectionately of “QD-infinity,” which speculates that like a Djent Guitar Riff Derivative product, QD has become so enmeshed in the U.S. financial system that it could seemingly go on forever.
Several prominent economists have become particularly concerned with the evolution of the products that Djent companies are selling. Like credit default swaps and collateralized debt obligations, these firms have begun throwing together Guitar Riff Derivatives in baskets, and then selling that packaged basket.
“In practical economic terms, there really isn’t a difference between these Guitar Riff Derivatives and the Collateralized Debt Obligations that brought down the financial system in 2008,” argues Simon Carufsky, president of Fairer Markets, a non-partisan regulatory reform non-profit. “These companies are selling sub-prime 0000 guitar riffs within sub-prime 0000 guitar riffs, within sub-prime 0000 guitar riffs, and then calling that package a AAA-rated security.”
The apportioning of cash to Djent companies works kind of like a bartender pouring a pitcher of beer into five mugs lined up on a bar. The beer in the pitcher is the cash generated from royalty payments that companies like Emmure receive each month, while the mugs represent the different pools of Guitar Riff Derivatives. The bartender fills the highest-rated mug first, then the second highest, and so on down the line until either all five mugs are full or the pitcher runs out of beer. If there are enough defaults on royalty payments, the fifth, fourth, third, or even second mug might go dry – and if writers’ block happens in the studio, even the first mug might not get filled. If the mugs become too dependent on being filled by the pitcher, says Carufsky, then the progression of heavy metal could be brought to a sharp standstill.
“The whole thing is like a financial Inception. It’s absolute insanity, even before you factor in the Fed’s allotment of easy cash to companies like Animals as Leaders.”
Exclusive: The Secret CIA Plot To Break Up Slayer
Posted by Keith Spillett in Pointyheaded Highbrow Stuff, The Politics Of Catastrophe on March 6, 2013
The note under my door said “Meet at 3 AM in the parking garage behind the Waffle House.” I’d received notes like this before and, usually, they either led to great information or some guy in nothing but a trenchcoat asking me if I wanted to hold hands and whisper Carpenters lyrics into each other’s ears. Typically, these messages came from my high level contact in the CIA, a man who will only let me refer to him in public as Deep Thrombosis. He’s worked in The Company for many years and has put me onto some of the bigger stories Tyranny of Tradition has broken. He was the guy who tipped me off to Obama’s drumming on the first Overkill album and Nixon’s plot to assassinate the members of Black Sabbath.
I knew that a night meeting with Deep Thrombosis could be the thing that gets me that Pulitzer Prize I’ve been coveting all these years or even a date with The Great Kat. However, I was not prepared for the monumental significance of what he was about to tell me.
“Tonight, we are going to pull back the curtain,” whispered Deep Thrombosis while his shifty, beady eyes darted from side to side. “The information I’m about to give you could bring down the whole circus. If you print it, be warned, there is a good chance you will end up having a ‘boating accident’ or accidently hanging yourself while trying to install a garage door opener. And for godsakes, if you print this, you need to promise not to mention you got it from a source in the CIA! They’ll be able to track it back to me.”
“I will absolutely not mention how I got this information,” I told my CIA source. “I swear it!”
He proceeded to tell me the most outlandish story I had ever heard. A story of violence, intrigue and a CIA so out of control that it would go so far as to break up one of the great thrash metal groups of our time.
“The Company had heard some rumors that the next Slayer album was going to be all about drone strikes on Al-Queda bases. The thing was going to be called “South of Reason”. Typical longhaired hippie liberal propaganda. We’d have let Limbaugh handle them except they were going to reveal potential bombing coordinates, out some of our higher level agents, and really turn the metalhead public against the whole ‘secret murder of civilians who have had no trial’ thing. We couldn’t let it happen. So we took action.”
“The first part of the plan was to kidnap Kerry King and replace him with an actor who resembled Kerry King. We have a guy who has done some jobs with us in the past who was a dead ringer for King, a sort of grubby, misshapen fellow who slightly resembled a poorly shaven yeti. We scooped up the real Kerry and threw him into Guantanamo and told the guards he was actually Osama Bin Laden’s masseuse and to ‘not torture him’ until he gave us any information on the whereabouts of the secret terrorist training camps in Iceland.”
“The guy we are using as Kerry almost gave the thing away during the first show. He played three or four really great solos, which confused the audience. Luckily, one of our agents got ahold of him and told him to haphazardly move his whammy bar around really fast when it was his turn to solo and no one would know the difference. Things went fine after that.”
“We slipped a mind-altering substance into one of Araya’s drinks and, through the power of suggestion, convinced him to start listening to Asking Alexandria. We figured this would jam up any creativity that was flowing through his head. Then, we gave a copy of the band’s financial information to Lombardo. The rest is history.”
“It was our best work since we got rid of Mossedegh in Iran in ’53. Or Arbenz in Guatemala in ’54. Or Allende in Chile in ’73. Or….well, you get the point.”
“The thing is, I’ve begun to realize that this sort of thing is dangerous. After all, if the CIA can destroy Slayer or overthrow the government of a foreign country or randomly kill civilians who happened to be in the same vicinity as people we believe to be terrorists without the consent of the American people, then what is the point of even calling our country a democracy.”
“I started thinking of what a soulless, unaccountable beast like the CIA could do if it really put its mind to it. Forcing Exodus to do a ska album? Getting Testament to hire Michael Bolton as their lead singer? Letting Janick Gers write all the songs on the next Maiden record? The possibilities were too horrible to consider.”
“So, I have chosen you to help put a stop to this. Publish this article tomorrow and remind America that in a democracy, the government needs to be accountable to the people or else they have ceased being a democracy. That transparency is the only thing that can keep us from becoming a nation capable of any atrocity in the name of opening new markets and exploiting new sources of human capital. That America should stand for something greater than the principal of bending other, weaker nations to our will. And that Slayer should start writing stuff that sounds more like it did before Divine Intervention, because honestly, the new stuff hasn’t been all that impressive. Except for God Hates Us All. That was pretty cool.”
I heard the sound of a car door slam in the corner of the garage and turned to look at it. When I looked back, Deep Thrombosis was gone.
Everything Is Dumb
Posted by Keith Spillett in Articles I Probably Shouldn't Have Bothered Writing, The Politics Of Catastrophe on August 11, 2011
“It is not a case of choosing those [faces] that, to the best of one’s judgment, are really the prettiest, nor even those that average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth and higher degrees.”
–John Maynard Keynes discussing Beauty Contests in the General Theory of Employment Interest and Money, 1936
Do you believe in big government? Then you must be a communist who looks to manipulate lazy poor people into voting for you by offering them the opportunity to spend the rest of their lives as indolent pikers. Dumb. Do you believe in small government? Then you must be an evil spirited misanthrope who doesn’t care one bit about anyone but yourself. Dumb. Are you pro-choice? Then you must be a maniacal baby killer who seeks to undermine basic human values. Dumb. Are you pro-life? Then you must be one of those religious psychopaths who want to force women back into the June Cleaver model of complete helplessness and social inferiority. Dumb. Do you like Obama? Then you are clearly in favor of the destruction of the American Way of Life. Dumb. Do you hate Obama? Then you are clearly a closeted racist unable to cope with the forces of progress. Dumb. Dumb. Dumb.
It’s all so insanely dumb. CNN had a question on their Facebook site last night asking all of their likers the question of what should be done about the economy. Everybody responded with some inane pet theory running the gamut from the flat tax to value added taxes to the repeal of all taxes to forcing the Chinese to send their entire work force to Africa to the Fair Tax to more sin taxes, etc. 2,658 comments in 15 hours. People inevitably started arguing and quoting dumb things they heard other people say. People called each other names. Blah, blah, blah, blah, blah. Everybody’s an expert. Each man a king, each woman a queen. Dumb.
I am not exempt from this sort of asinine posturing. I have moments where I forget that I am part of the mob. Wishful thinking does occasionally overtake my brain. The wicked, awful truth is by contributing to the blogosphere, I have merely exchanged my pitchfork and torch for a MacBook. I get worked up over the horrors of military spending or the Ponzi scheme-like quality of modern finance or the disgusting, venal nature of American politics from time to time and write about it. Dumb.
The truth of the whole thing is far worse than a person can contemplate without a complete psychic meltdown. It’s not just that we are dumb, that idea by itself is tolerable, even somewhat amusing. It’s that the product of all modern discourse seems to be dumb. Let’s assume for a moment that some of us want to use reason as an antidote to the basic dumbness of our world. Fine. Good luck. The non-dumb folks among us are welcome to use subtle, intelligent arguments to understand the world. It’s a free country, as they say.
Now, let’s say one of the non-dumb want to step outside of the perimeters of their mental world and, say, lessen the suffering of others or effect social change on any level. Well, those folks will present their ideas to a population that, for the most part, is uncomfortable and even threatened by anything that resembles reason. Let’s say you are making a reasoned argument for the truth of global warming. How on earth could you possibly explain the nuances of a concept like that to a person who believes that science is completely untrustworthy and dinosaurs weren’t real? Every time it snows they will thumb their nose at you and scream out “SEE!” Let’s say you are a bright and articulate religious person and you want to make a reasoned argument for what you believe? You will be met with every anti-religious cliché in the book and lumped together with sycophants from Jimmy Swaggart to Ayman Al-Zawahiri. You can’t win.
Eventually, the pure force of dumbness will overpower any even moderately intelligent argument. Seeing this, a person making reasonable arguments might well begin to lose trust in their audience. In order to enact any sort of change in our world, one must not just have a great idea, one must have an idea that the mob can be talked into. When the realities of the situation begin to occur to someone with an idea, they naturally begin to tailor their ideas to the wild eccentricities of the mob.
Most people might not understand the nuances of the idea of a welfare state, but they can certainly be convinced that its not right that someone who has a private jet pay the same taxes as they do. Now, the argument has moved out of the realm of thought and into the realm of pure, visceral dumbness. Pretty soon, an intelligent point about general inequity has become a shouting match between “the defenders of those with private jets” and “those who hate America.”
The upshot of all this weirdness is that extremely intelligent people are forced into becoming absurd polemicists. The merits of the idea take a backseat to the constant push and pull of public opinion. This idea is perfectly captured in the earlier quote by Keynes. The whole thing becomes a Faustian Beauty Contest fought not on the merits of what is beautiful, but rather, on the merits of what the mob might find the most beautiful.
Finding a point of view that makes sense becomes a lot like defensive driving. You are not driving based solely on the rules of the road, rather you drive based on what the idiot in the Camaro doing 100 miles per hour with a Pabst Blue Ribbon in his lap might think the rules of the road are. Even if you drive well, the moron next to you can still kill you. So, you adjust to the stupidity of the whole venture. In that adjustment, ideas that are logical are often jettisoned for more acceptable generalizations that can be absorbed by a mass of angry people. And those generalizations are met with counter generalizations, which are met with counter generalizations. The whole thing gets pushed out to the n-th degree. Suddenly, we are excitedly screaming at each other over what Joe The Plumber thinks. After a few hundred rounds of this everyone’s an idiot and no one can tell the difference. Over and over and back and forth. Dumb.
I offer no solution to this problem. This may well be how democracy works when you get it out of the textbooks; I’m not sure. I do wonder what the outcome of this insanity will be. I feel like I’m chained to 300 million lunatics going over Niagara Falls in a barrel. Everyone is paddling in different directions. Everyone thinks that they know how to escape and are just as convinced that the morons next to them are messing things up. We argue over how we got in the barrel, we argue over how to best get out of the barrel, we argue over whether The Falls are even real, we argue over how big the barrel is, we argue over who should get out of the barrel first, we argue over whether we should work together or separately. The result of all this strain and turmoil is no different then if we did nothing at all. We move towards The Falls with no clear explanation of what is happening and no possibility of ever getting out of our predicament. Dumb.
Watching The Defective
Posted by Keith Spillett in Existential Rambings, Pointyheaded Highbrow Stuff, The Politics Of Catastrophe on August 1, 2011
The following conversation took place recently in a mental hospital on the planet Klorg located in the Rumach Galaxy 20,000,000 west of Arcturus. The patient, Wsghk Z Weryhi, was locked in a padded cell and sedated for his own safety approximately one week ago. His family brought him in claiming that he disappeared for a day and reemerged exhibiting signs of severe dementia. We now join an interview between himself and the esteemed Doctor zZefgh W KorgabS already in progress.
(Editors note: The conversation was conducted in KlorgeanRW, a dialect common in the Southern Provinces of Klorg. The language and concepts have been adapted so that it can be understood by the primarily English speaking audience of The Tyranny of Tradition)
Dr. KorgabS: So, I want to go back to what you were saying earlier, about this America you claimed to have visited…
Weryhi: Doctor, I am sure that I was there. I snuck into the interstellar dock at the community center and set it for random coordinates. It took me to America.
Dr. KorgabS: Okay, so, let’s talk about this America. I want to make sure I understand what you are telling me. Please describe this whole, what did they call it, (consulting his notes)…ah yes, this “free market” idea that many of these Americans believe.
Weryhi: Sure….some of them believe that this system of economics that they have, they call it capitalism, is essentially perfect. They think that if they all do as they wish and accumulate as many resources as they can, everything will work out for the best for those that make what they like to call “good decisions”. Basically, some of them actually believe that selfishness is a good quality that is the best thing for the community.
Dr. KorgabS: (with a perplexed look on his face) Okay….now Wsghk, you can understand why I’d think this sounds a bit odd, right?
Weryhi: Believe me, I had the same response. One of them told me about this fellow named Adam Smith who said an “invisible hand” runs things and allows people acting only in their best interest to be protected. The invisible hand makes everything work out. Or, that’s what the fellow in the bowtie told me.
Dr. KorgabS: An…invisible hand???
Weryhi: Yes.
Dr. KorgabS looks down at his information tablets trying not to look concerned and moves on to the next subject
Dr. KorgabS: And….this democracy idea that most of them talk about.
Weryhi: Yes! It was a fascinating thing. From time to time they actually pick the people who make the most important decisions. It sounds like a great idea, but what they do with it is bizarre. Once they’ve picked these “politicians”, many of these people turn around and blame them for everything that goes wrong in their lives. Even though they were the ones who picked them in the first place! Then, if the politicians do what they want them to, they pick them again and start blaming them the minute these folks are elected. It’s amazing! They seem to take no responsibility for the choices they make!
Dr. KorgabS: Yes, you seem to talk a lot about how they blame each other.
Weryhi: One of the most amazing things I’ve ever seen. One very small section of the population controls most of the resources. Most of them struggle while a few of them have more than they need. Yet, many of the Americans blame those who have very little of the resources for making “bad decisions” and ruining things for the group. Every once in a while, a few of the people with a lot of resources blame other people with a lot of resources, but they don’t really try to change anything.
Dr. KorgabS: Do these Americans blame any one else?
Weryhi: They blame EVERYONE! That’s all they do. They blame people who don’t live in America. They blame people who come to America. They blame people who have new ideas. They blame people who don’t do what they want them to. They have entire television channels dedicated to blame.
Dr. KorgabS: Fascinating. Is anyone ever above blame?
Weryhi: Well, they like to make up stories about these people they call The Founding Fathers. Apparently, they understood everything and rarely had bad ideas. The funny part is they use these made up stories to justify all sorts of bizarre actions. These people seem to have almost limitless imaginations!
Dr. KorgabS: This is truly amazing.
Weryhi: Isn’t it. Some of them believe that this invisible all powerful being, that they have a bunch of different names for, controls everything and tells them what to do.
Dr. KorgabS: (incredulous) An invisible, all-powerful being that…tells them what to do? Sounds like that invisible hand thing.
Weryhi: Yes!!!! This invisible being idea is so strange. If things go well for them, they say he did it. When things are going badly, many of them don’t change anything about their lives, they just close their eyes and pretend to talk to this being. Apparently, they think this invisible being has some great plan that they are all a part of. If they disobey the voice in their head, they fear that after they die they will be set on fire for the rest of time.
Dr. KorgabS: Simply amazing. And many of them believe all of this?
Weryhi: Here’s the weirdest part….not only do they believe it, they are proud of it. Incredibly proud of all of these strange ideas. They wave flags and have parades to celebrate them. Without a trace of irony, these people act as if they have found the greatest set of ideas ever created. They are so impressed with these ideas they are willing to go to war and commit querby so that people will act more like them. (editors note: there is no English equivalent to the word querby. It means something like killing or harming based entirely on a delusion. It is the worst possible act in Klorgian society. No one there has committed querby in the past 20 years)
Dr. KorgabS: They commit QUERBY and are proud of it!!!! I simply cannot believe that.
Weryhi: If I hadn’t been there, I wouldn’t either.
Dr. KorgabS: (standing up and leaving the room) You understand that this sounds pretty far fetched?
Weryhi: I know, I know. But I saw it with my own three eyes.
Dr. KorgabS: We will be in to check on you and talk more later. Until then, try not to think about that place.
Weryhi: I’ll try, Doctor. Thanks for listening.
20 minutes later in Doctor KorgabS office. KorgabS sits at a desk discussing the interview with his colleague and friend Doctor QwB
Dr. KorgabS: He seemed so convinced. The details are incredible. I have never worked with a patient with such detailed delusions.
Dr. QwB: It all sounds so crazy. I mean, the part about the interstellar space travel is quite possible, but this America he described sounds ridiculous. Does he know it can’t possibly be real?
Dr. KorgabS: No, I don’t think he does. It’s so sad. I’ve never met a sicker being in my entire life.