In The Long Run

Ναί

 

 

Yes

 

In the Long Run

We Are All Dead.

J.M.Keynes

.

How Did Economists Get It So Wrong? 

.

EUROSCLEROSIS

@ Boliqueime

Brussels

or

Frankfurt

 The Old Toothless Aunt

is

No longer  able to drink Tea

with

Scones...

Europe

is not

a

credible

Bridge 

player

.

Europe Union

.

MARKET FUNDAMENTALISM

It is not from the benevolence of the butcher, 

the brewer or the baker, 

that we expect our dinner, 

but from their regard to their own self interest. 

We address ourselves, 

not to their humanity but to their self-love, 

and never talk to them of our own necessities but of their advantages.

 .

Adam Smith

 .

Fundamentalists believe that markets tend towards equilibrium 

and the common interest 

is best served by allowing participants to pursue their self-interest. 

It is an obvious misconception, 

because it was the intervention of the authorities 

that prevented financial markets from breaking down, 

not the markets themselves. 

Nevertheless, 

market fundamentalism emerged as the dominant ideology in the 1980s, 

when financial markets started to become globalized

and the US started to run a current account deficit.

 .

George Soros

. 

The great enemies of capitalist stability 

have always been 

war
and 

depression.
.

 Paul Krugman

.

NeoKeynesian

Getty Image

.

dying is fine)but Death

dying is fine)but Death

?o
baby
i

wouldn't like

Death if Death
were
good:for

when(instead of stopping to think)you

begin to feel of it,dying
's miraculous
why?be

cause dying is

perfectly natural;perfectly
putting
it mildly lively(but

Death

is strictly
scientific
& artificial &

evil & legal)

we thank thee
god
almighty for dying
(forgive us,o life!the sin of Death

e.e.cummings 

.

Em Memória de Maria José Nogueira Pinto

.

JUNK

Σκουπίδια

And Finally

Portugal

Became

Garbage

Junk

@

EUROZONE

(or)

The

FALL

Off

THE

EMPIRE

{Part 1}

.

photo by APress
In the Mood...

.

 

Απεχθές Χρέος

ODIOUS DEBT

We have involved ourselves in a colossal muddle, 

having blundered in the control of a delicate machine, 

the working of which we do not understand. 

The result is that our possibilities of wealth may run to waste for a time 

— perhaps for a long time-.

John Maynard Keynes

.

Odious Debt

J. M. Keynes

Paul Krugman

Behavioral Finance
Debtocracy ΧΡΕΟΚΡΑΤΙΑ

.

ILLUSION OF CONTROL

Homo Politicus

Homo Economicus

Homo Peregrinus

-People are Myopic

And 

Live In a Cognitive Illusion - said HPo.

-ZIRP - said HEc.

-Oh My Dear Prime Minister

I do Not Agree @ all.

They See Very Well 

and as Much as I Know

They Are Watching Us

Very Attentively.
And it seems more
Liquidity Trap than ZIRP dear Viktor! - HPe.

.

Τρεις Χάριτες

.

DELETED

RIP

Requiescat in pace

.

Φράουλες με Ζάχαρη

.

19th Nervous Breakdown

You better stop, 

look around
Here it comes, 

here it comes, 

here it comes, 

here it comes,
Here comes your nineteenth nervous breakdown.

 

 19th Portuguese Government

 

.

Do We Really Need Europe? 

.

CREATIVE DESTRUCTION

CREATIVE

DESTRUCTION

The fundamental impulse that sets and keeps the capitalist engine in motion 

comes from the new consumers’ goods, 

the new methods of production or transportation, 

the new markets, 

the new forms of industrial organization that capitalist enterprise creates.

 

Joseph Schumpeter

 .

 

Μοναξιά

SOLITUDE

There is a solitude of space
A solitude of sea
A solitude of death, but these
Society shall be
Compared with that profounder site
That polar privacy
A soul admitted to itself --
Finite infinity.

Emily Dickinson
 .

Why, sister?

.

Clara Ferreira Alves

Bilderberg 2011

St. Moritz

.