The Wheels on the Bust….or SPEED or Peanut Butter Pancakes or Do Ya Feel Lucky?

speed r scorpio-and-the-chubby-kid‘The wheels on the bus go

round and round

round and round

round and round

The wheels on the bus go

round and round

All day long…’


Well, it looked for a moment back there as if the wheels might finally be coming off; but somewhow the Great Western Credit Crunch bus is still on the road and rolling on; true, it’s swerving wildly and threatening at any moment to tip on its passengers onto the road; but it’s still truckin’ !


‘The people on the bus go:


All day long..’


EBOLA, China slowdown, European stagnation that even cripples the German economy and American retail numbers; all heart stopping bumps in the road. The economy is motoring at top speed in the pitch black night- if you hear a bang, don’t get out and see what (who), you hit- you really don’t want to know.

Remember the thriller ‘Speed’ where a public bus is hijacked by a loony with a remote bomb? Well it’s like that, except instead of Sandra Bullock we have Janet Yellen keeping the QE needle above 50 mph or else…

On the bus itself, there is an ongoing game of musical chairs with certain ammendments apres Rosa Parks. No matter who is actually ‘out’ when the music stops, certain citizens will be required to give up their seats for the benefit of other, more entitled players. So the designated losers move further and further to the back of the bus.

And since all they are paying is peanuts:


‘When civil rights activist Rosa Parks died in 2005, this recipe for ‘feather-light’ pancakes was found among her papers, on the back of an envelope.

 Makes 16 small pancakes

Sift 150g plain flour, two tablespoons of baking powder, a quarter-teaspoon of salt (or less, if the peanut butter is salty) and two tablespoons of sugar. In a separate bowl, whisk one egg, 300ml milk and 100g smooth peanut butter. Add the wet ingredients to the dry, whisk smooth and leave to stand for 10 minutes.

Put a frying pan on a medium heat and add a knob of butter. When the butter is foaming, add a dessertspoon of batter and spread out slightly – the pancakes should be quite thick and fluffy. Cook until golden on the bottom, then flip and cook on the other side. Repeat with fresh butter, cooking three or so at a time and keeping the cooked pancakes warm. Serve with maple syrup, or melted butter and jam.’


As I noted previously, we have settled into the tried and tested Hollywood script system of one scare every fifteen minutes or so: Surprise! falling retail, Surprise! trade deficit etc etc. Stocks and Shares and Shocks and Scares are interchangeable now. It is very hard not to form the impression that the public is being conciously and systematically pounded by ‘information’ as in ‘Shock and Awe’; as in ‘Shock Doctrine’.


The driver on the bus says: ‘Screw you buddy!’

All day long


The amount of money in circulation is falling. This is readily observably in the fact that the velocity of money moving through the economy is falling. Employment is going up, but prices and wages are falling.

To put it another way the money bus route is shrinking rapidly. The bus just does not stop in all the places it used to stop. And when it does stop that’s all it does. You jump on the bus and it just sits there, engine idling. Or else it motors on past your stop without even giving you a chance to jump on…

And it’s all because there are three bus companies where there used to be only one.

You are constantly told by monetarists and their fellow travellers that money is being printed hand over fist. This is true but it is not state money that is being printed and distributed. There are now three quite distinct money networks operating in the globalised money system:


State money. This is the standard old fashioned money you and I use day to day.

Privately issued (Democratised), money. This is derivatives issued by financial institutions.

State money issued on a private basis. (including credit). This is the QE money that although issued by Central banks, this only circulates in a sealed system innaccesible to ordinary people.

When you add up the amount of Democratised and QE money and compare it to the amount of state issued money you realise that PROPORTIONALY the amount of state money circulating in the economy has fallen by a MASSIVE amount. This is the deflation that you are experiencing.


Scorpio Rising

Milton FEDman often repeated that:

‘Inflation is always and everywhere a monetary phenomenon’.

This is not as some believe, a theoretical observation. It is a political statement of intent, that is to say a description of how Monetarists are going to regard inflation from now on. As in:

If you don’t say anything when I take over your home and use it as a brothel I am going to take that as implied consent.’

As in:

‘If the city does not give me 5 million dollars in used notes I will shoot random passers by, hijack a school bus etc.’

In other words; these are the rules I am going to act under.


The Cylinder on the Gun Goes Round and Round..


Just like Dennis Hopper in ‘Speed’ and Scorpio in ‘Dirty Harry’ our Monetarist hi-jackers have laid down the terms under which they will operate. And you either comply or face the consequences. Now instead of all the myriad and complex risks they faced under the previous system they face only one: That you might not go along with their demands, that you might say:

‘OK Callaghan, it’s highly unorthodox but I’m going to let you go after these sons of bitches with everything you’ve got!’

All throughout ‘Dirty Harry’, Scorpio uses the inherent weaknesses within the system as a means of getting what he wants. He even goes so far as to get himself beaten up to deflect attention elsewhere (see above)- More QE anyone?


In fact he nearly outfoxes Dirty Harry until Harry realises that the way to beat Scorpio is to take advantage of his weakness- that he is a psycho and will always take the risk no matter what the danger. Because he can’t help himself.


So he offers Scorpio the roulette with the Magnum 45.


And that is how we will take down the Monetarists, by going after them and forcing them to take one chance too many.


Or you can just sit around and hope you won’t be one of the unfortunates actually taken hostage by the Monetarist psychopaths.


Do you feel lucky?




Do Ya?

2 thoughts on “The Wheels on the Bust….or SPEED or Peanut Butter Pancakes or Do Ya Feel Lucky?

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