Let Them Eat Pictures Of Drawings Of Cake

WARNING: Not Happy Time Writing Follows
What Atrios Said


Eat Up; Courtesy Of Your Elders And Betters (Photo By Machine)

I'm not in the habit of reposting another individual's writing in full. It's an Intertubes tradition not to do so, as it betrays a lack of original thinking or insight or some Thing.

I am reposting this, however, for obvious reasons -- among which, I am just very, very upset about many Things in this Great Land Of Ours ©, and suspect that what Black writes about here is just more of what's to come.

Thursday, May 31, 2012
What Do You Expect Will Happen When People Have No Jobs And No Money

I knew we had a wee housing bubble because I knew that not enough people possibly had enough money to really afford that many houses at bubble prices. Similarly, I know the economy is going to continue to recover slowly, if it all, because people don't have jobs and money. I also know that if you deliberately enact policies with the obvious consequences of making large numbers of your population jobless, such as firing large numbers of public sector workers, then newly unemployed and broke people aren't going to spend any money because they don't have any.

The people who rule the world have jobs and money. They don't know what it's like to go from living paycheck to paycheck to living with no paycheck. They support the policies that they do because they cannot comprehend the obvious consequences of this.

Probably they're evil, too, but we'll never fully resolve that question...

by Atrios at 10:15

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Noch Einmal, Mit Schwein: Well, this makes me feel so much better.

May 30 (REUTERS) - Nationalised Spanish lender Bankia is offering a Spiderman towel to young investors as part of a drive to hold onto deposits after being taken over by the state in the biggest bank rescue in Spain's history.

The bank, which holds around 10 percent of Spanish deposits, is offering the prize to youngsters if they manage to save 300 euros ($380) by the end of the month...

Spain's fourth largest bank is in line for a 23.5 billion euro state rescue after it became clear the lender could not handle losses stemming from a property crash and compounded by a recession.

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Chicken Little And The Eurozone

Whither Europa?

The Baseline Scenario (a financial blog you should be aware of) recently posted an article (The End of The Euro: A Survivor's Guide) by Peter Boone and Simon Johnson, describing as inevitable the implosion of the Euro.

The ... European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) has proved unable to restore the prospect of recovery in Greece, and any new lending program would run into the same difficulties....

... the Greek failure mostly demonstrates how wrong a single currency is for Europe. The Greek backlash reflects the enormous pain and difficulty that comes with trying to arrange “internal devaluations” (a euphemism for big wage and spending cuts) in order to restore competitiveness and repay an excessive debt level.

This is the result of the principle of Austerity, of forcing huge budget cuts on 'profligate' EU member nations through their governments, as a precondition to qualify for loans to (first) prop up their banks, and then, their governments' sovereign debt.

Through it all, the 'Greek Problem' was advertised as Europe's worst. Europe and the rest of the world watched as one Greek financial crisis was temporarily stemmed by band-aids made from hastily-patched-together ECB- and IMF-brokered loans. But no matter what was done, there was always another crisis, another loan, and even more draconian demands by the Austerians to cut more civil service workers and sell even more national assets to the Oligarch class of investors.

And, Austerity was the inviolable principle upon which the future of the European Union (through the Euro) rested. There would be balanced budgets and, after a period of 'pain' suffered by its citizens, Europe would find a sustainable prosperity while the US and Asia continued generating deficits and increasing national debts.

The Greeks were stunned by how much of their quality of life at least two Greek coalition governments were prepared to negotiate away. Eventually, state-owned monopoly businesses were being sold off to Oligarchs; it was suggested even the nation's ancient cultural artifacts might be sold. Ultimately, we were treated to the spectacle of Greeks rioting in the streets of Athens -- several times -- while elections (under immense pressure from outside the country) voted in new Greek parliaments whose representatives who would vote to accept the ECB-IMF terms -- the Austerity cuts -- to receive bailout loans, which would reduce the quality of life for Greek citizens even further.

And this scenario has played out twice in the past five years. It's about to occur again. But now, after years of financial reporting since the 2008 Crash, it has become clear that Austerity is a failure, a plague which kills economic growth. And finally over the past few weeks, the Greeks and the French spoke loudly at the ballot box: Enough.

EU leaders and financiers have begun to try and make Greece's leaving the Eurozone sound like it's an inevitability with a silver lining. The Greeks simply will not bring their spending under control, even after all the assistance good, frugal Europeans have given them -- so, let them go! It's for the best; and after that the EU can go about the business of rebuilding itself... under the banner of Austerity, or course.

Faced with five years of recession, more than 20 percent unemployment, further cuts to come, and a stream of failed promises from politicians inside and outside the country, a political backlash seems only natural. With IMF leaders, EC officials, and financial journalists floating the idea of a “Greek exit” from the euro, who can now invest in or sign long-term contracts in Greece? Greece’s economy can only get worse.

Some European politicians are now telling us that an orderly exit for Greece is feasible under current conditions, and Greece will be the only nation that leaves. They are wrong. Greece’s exit is simply another step in a chain of events that leads towards a chaotic dissolution of the euro zone.

The European Central Bank has claimed that the financial deals it has created to support the problems of Greece, Spain, Italy, Portugal and Ireland, are sound. But according to Boone and Johnson,

...the euro system claims on troubled periphery countries are now approximately 1.1 trillion euros (this is our estimate based on available official data). This amounts to over 200 percent of the ... capital of the euro system. No responsible bank would claim these sums are minor risks to its capital or to taxpayers.

These claims also amount to 43 percent of German Gross Domestic Product, which is now around 2.57 trillion euros. With Greece proving that all this financing is deeply risky, the euro system will appear far more fragile and dangerous to taxpayers and investors...

We agree: Once it dawns on people that the ECB already has a large amount of credit risk on its books, it seems very unlikely that the ECB would start providing limitless funds to all other governments...

The financial crisis in the Eurozone for the past five years has followed this pattern: An economy in crisis in the Republic of [Fill In The Blank], followed by their promises to "adhere to the principles of Austerity", followed by loans organized by the EU. Then, an identical crisis somewhere else or in the same place, and more promises of austerity followed by another loan.

But while it's interesting to understand some of the nuances in the labyrinth of international finance, let me skip the boring details and go right for the meat, as Dogs tend to do:

• This pattern of crisis isn't sustainable. At some point, through a combination of human error, regime change at the ballot box (a la France and Greece), malice or Acts Of God, the ECB and IMF will not be able to arrange financing necessary to keep the Eurozone whole.


• Given enough time, the international banking and investment structure would like to "unwind" all the debt that was created before (and after) the Fall of 2008. Unfortunately, their method -- there, as over here -- is to slowly and carefully shift that debt burden from private corporations to The People. Only, there isn't enough time; there is far too much debt to be hidden or passed along.

Too many Europeans understand that they are paying for the greed and sin of the Banksters, and they will at some point say Basta!! This is almost an inevitability -- and what, exactly, it will do to the world economy depends on how willing European politicians and Banksters are to deal with the reality that the Euro's days are numbered.

If human nature is constant (and sadly, it is), you can see the coming months as a large number of EU politicos, American and international corporate financiers all fight a long, bloody rearguard action to stave off the collapse of the Euro system salvage as long as possible. It doesn't have to be this way -- but blindness and bloody-mindedness seem to be the order of the day.

For the last three years Europe’s politicians have promised to “do whatever it takes” to save the euro. It is now clear that this promise is beyond their capacity to keep – because it requires steps that are unacceptable to their electorates. No one knows for sure how long they can delay the complete collapse of the euro, perhaps months or even several more years, but we are moving steadily to an ugly end.

Whenever nations fail in a crisis, the blame game starts. Some in Europe and the IMF’s leadership are already covering their tracks, implying that corruption and those “Greeks not paying taxes” caused it all to fail. This is wrong... We cannot blame corrupt Greek politicians for all that.

It is time for European and IMF officials, with support from the US and others, to work on how to dismantle the euro area. While no dissolution will be truly orderly, there are means to reduce the chaos... Most importantly, Europe needs to salvage its great achievements, including free trade and labor mobility across the continent, while extricating itself from this colossal error of a single currency.

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MEHR: ... So, don't believe a Dog when he tells you the Eurozone is goin' down! How about the chief executive of the EU's version of the Fed, the European Central Bank?

FRANKFURT — The president of the European Central Bank, Mario Draghi, warned Thursday that the structure of the euro currency union had become “unsustainable” and criticized political leaders who he said had been slow to respond to a regional debt crisis now well into its third year...

Greece, progenitor of the debt debacle, is in political turmoil once again, and this time it is in danger of dropping out of the euro zone altogether. Spain, with one of the region’s largest economies, is in the grip of a banking crisis, and there is a growing sense that the danger to Spanish banks is of an entirely different order of magnitude from that in suffering but small Greece.

The clearest danger signal may be the euro currency itself. It is at a two-year low against the dollar, as investors who can do so are pulling money out of the euro region.

U.S. officials are also displaying increasing concern. President Barack Obama spoke with European leaders by video conference this week and the U.S. Treasury Department dispatched a senior official, the under secretary for international affairs, Lael Brainard, to Berlin and other European capitals to get the message across.

Any questions?

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Greco-Spanish Wrestling

Random Barking

The news is chock-a-block with stuff as a bad Exmass fruitcake, but it isn't even June yet. I'd prefer we not get too far ahead of ourselves.

The Greeks continue to come to a boil, which threatens stability of the Eurozone and the Euro. Depositors have transferred some of their money out of Greek banks -- not a full-fledged bank run, but a potential warm-up. Their current government is definitely Left, but whether they tell the EU ministers and the ECB to suck Adam Smith's underwear take their Austerity plans and go away is anyone's guess.

Meanwhile, Die Eisen Kanzellerin continues to say that Austerity is the only overarcing policy for the EU she will accept. She's had to claim this week that there are no contingency plans for Greece to exit the Euro and the Eurozone, but there was some minor embarrassment when it was revealed that yes, Angela, such plans have been made and are being updated. Not sure why this was such a flap; contingency planning is another form of prudence.

However[I'm sorry; have to use the phrase] the Greek Chorus of sensible financial analysts, all demanding that growth through deficit spending by individual European governments, continues to grow louder with each report showing GDP shrinking in Britain, Italy, Spain, (certainly Greece) France, and even Germany.

If The EU 'stays the course' on Austerity and refuses to pull back from Stalingrad compromise, then Germany's current government may be responsible for pushing the continent further into the current Depression off the fiscal cliff into another Recession.

Which will, of course, kick the United States economy in the balls to the curb, as we move into a Presidential election race between an empty-headed, rich Suit Talking-Head, desperate to be elected; and a Chicago political Suit whose core values seem to be not pissing off rich people, and whom is desperate to get re-elected.

The first will just fuck The People (without dinner, I add) and, when We try to get his attention later in a crowd, will push a copy of the Big Book O' Mormon at us, flash a smile and say, "Hi; great to see you", then disappear into an exclusive elites-only gathering behind a phalanx of bodyguards.

The Re-electable Other will allow The People to be gangbanged by the Tee Partei and then have all manner of ready explanations as to why he couldn't prevent this from happening. Then, he'll flash a smile and disappear into an exclusive elites-only gathering behind a phalanx of bodyguards.

It's all quite upsetting. And which of these two wins may be decided, in part, on how quickly the EU and its central bankers can run round-the-clock, pump-and-shore parties below decks on the good ship Austero.

Many observers in the U.S. believe that the EU / Eurozone stuttering into collapse, or a larger implosion of global financial markets resulting from a crisis in an individual European country on the brink, would not be good for The Re-Electable Other, and allow the Rich Suit to claim it was all Obama's fault.


Obligatory Cute Small Animal Photo In Middle Of Blog Rant

Ah, but what's this? Now, Spain begins to deteriorate financially, prompting another set of depositors to transfer billions of Euros out of their banks. Ratings agencies downgrade the perceived quality of those banks, which force even more depositors to transfer funds to other banks, perceived as being safer bets.

Franco crawled from his grave, took one look at a recent (Rightist) newspaper and promptly crawled back in. Bankia, Spain's largest financial institution, announced on Thursday that it needs $19 Billion Euros in 'assistance' from -- well, somewhere -- just in order to keep from declaring bankruptcy and setting off a world-wide financial Armageddon.

It's curious, isn't it? The world's major banking and investment firms can each declare that their own individual problem is enough to ignite a global financial collapse, if they don't get a bailout. And over time another, and another, noch einmal; usw., usw.

The amount of debt created during just the last ten years -- a great deal bound up with Real Estate -- has been sitting in the middle of the global economy like a partially-defused Thousand-Pound bomb. Since 2008, the combined efforts of the world's central bankers (and friends) has managed to stop the bomb's timer (allowing those with wealth to figure out methods of saving as much as they can -- even while millions of Us become unemployed), but that's all. It gave them time, so it was said, to find a solution, to "unwind" the debt and somehow pull the fuse out of the Thousand-Pounder before it went up and brought the whole edifice down.

But, the Europeans (and the Amerikanischer Tee Partei) demanded that the only solution was Austerity -- proof that as government spending decreased and national debts were brought under control, The Magic Market Confidence Fairy would coax investments in equities, and push banks into loaning money to develop businesses and hire all those peasants unemployed people. The banks said Oh; fuck you, by the way. They wanted more free bailout money, even as they made more profits. Unemployment grew. And Austerity as a plan was proven incorrect, as it turned out.

And, while all this has been going on, investment banks have continued trading in Derivatives, or Credit-Default Swaps -- and the amounts of those which would need to be paid in the event of a financial collapse is in the hundreds of trillions. This is why the situation in Greece, and Spain (Italy and/or Portugal will be next) is worth watching.

It's like being a spectator at a slow-motion automobile accident between two cars driven by rich crack addicts, playing Chicken by driving head-on at each other: They knew exactly how they got into this situation; they knew what getting addicted could do to them; but they did it anyway.

We enabled them, too. We could have demanded a little more finance regulation, listened a little less to Little Rupert's propaganda factory. We believed everything the Whorehouse and Casino of the Free Market showed us. Now, we're living through history, a thing we somehow believed we were immune from, helpless to do anything about the impending crash -- even move out of the way. Because, however it happens, we're going to get struck by debris as a result.

But, I'm only a Dog, and no one listens to me. Tonight, I'm going out with friends, a couple and their children, to (no joke) a Greek restaurant owned by two brothers. I've been going there occasionally since they opened in the early 80's, and am treated like a relation (non-Greek; but, still), which makes it easy to get a table. The food is great; it's one of a handful of places in The City where you can get Retsina and a dog bowl full of Spanakopita.

It'll be a good time. And moment to moment, that's the best we can expect. I can live with that.

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As We Speak

Annular Eclipse Of The Sun

...is happening, right now. I wasn't aware that it was even happening -- was just settling in to eat a Dog Bowl of Couscous and Garbanzo Beans, and catch up on Season 4 of The Wire, when I noticed an odd cast to the sunlight outside; a phone call from a friend about something completely unconnected to the periodic passages of Sun and Moon clued me in ("Why don't you know about this?").

Eclipses occur every 177 days, 4 hours, observable from somewhere on the Earth, and are all predicted by the slow gravitational-orbital dance of our M-Class star, Sol, and our Moon. Today's free light show has a specific name, too: SE2012May20A, and you can find out whether you missed anything, here. For this eclipse, the greatest region of Totality occurs in a band which runs just north of the San Francisco Bay area.

Years ago, I, uh, ingested psychoactive chemicals (all part of the Yout Scene in those times long ago) and climbed a small mountain in order to be the highest thing in three counties, and watch the sun go down. I have the scars on my corneas to prove it. I won't be reenacting that little slice of stupidity today.

Now, if we were in Darkest Kinjubistan, a hundred years ago, we could fool the natives into believing we were Gods by using the Eclipse as a sign of our power. Or, so Hollywood would have us believe.

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Dog Stuff Dog

Sinful Wages

I, uh, have a life with a job in it. And on occasion I had damn well better pay attention to that fact because I don't do well as a certain kind of statistic. Just sayin'.

So for a brief time, I'll be focused on other things. It doesn't mean that I don't love you all as only a Dog can -- unreservedly, with slobbering and a certain level of low-key Would You Just Let Me Out The Door, Already whining -- but I gotta do That Dog Stuff.

Back soon.

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Gone Where The Wild Things Are

Maurice Sendak, 1928 - 2012

Maurice Sendak passed away at age 83; another Mensch leaves us.

And as I've pointed out, we live in a world with a limited supply of Mensches.

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Austerity Non

Socialist Hollande Wins French Presidency

For only the second time in the history of France's Fifth Republic, a Socialist Party candidate, François Hollande, has won that nation's presidential vote.

Nicolas Sarkozy, the center-Right President of France, is out -- and along with him the most serious ally of Die Eisen Kanzellerin Angela Merkel's insistence on linking the salvation of the European Union with fiscal Austerity.

Sarkozy is the first major European New Austerian to be defenestrated by his country's electorate over the failure of France's economy -- and he may not be the last. Ironic, when you consider that Sarkozy and Merkel had helped to effectively force 'regime change' in Greece, Spain, (England could possibly be counted, too) Portugal, and Italy.

The New York Times reported that Austerity received additional blows in Greek and German elections as well:

Greek voters sent their own message against austerity. They handed the two main parties, both of which had pledged to follow harsh international bailout terms, significant losses as they streamed to parties on the far left and far right that have opposed budget cuts. In the process, voters cast into question the ability of any party to form a government soon, let alone continue with the austerity program.

...The French and Greek elections were closely watched in European capitals and particularly in Berlin, where Ms. Merkel has led the drive to cure the euro zone debt and banking crisis with deep budget cuts and caps on future spending...

... Ms. Merkel herself was embroiled in electoral politics on Sunday, suffering setbacks in elections in the state of Schleswig-Holstein, where her party appeared to be losing its hold on the state Parliament. With another election coming May 13 in North Rhine-Westphalia, Ms. Merkel is not viewed as having much room domestically to compromise on the critical issues of inflation and debt limits.

What Goes Around, Comes Around.

The Big Guy Returns

Chairman Of The Board

The banner at the top shows a view towards the Bay this morning, as The Big Guy made his way carefully under the Golden Gate Bridge and began wading east through San Francisco Bay. As usual, most water traffic was halted until noon, but ferry service should resume shortly.

It's the 101st running of the Bay-To-Breakers here on May 20th, and Godzilla's participation has been a time-honored tradition since 1954.

As an avid jazz aficionado, Godzilla will be appearing at or near Yoshi's, beside the Oakland yacht harbor (there's a celebration of the music of Johnny Otis this evening), and is scheduled to address the graduating classes at UC Berkeley and Stanford while he's in the area. We're not sure how or where else he'll spend his time here, but he will be hard to miss.

The Big Guy is a UCLA graduate, and we understand Stanford has begged for mercy in advance of his appearance.

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Word

You Want To Know Why?

(Originally Posted October 29, 2011)

Via The Great Curmudgeon, very apt analysis -- and why don't we see more writing like this:

There has to be an underlying organizing principle for why they would bail out banksters, and fuck over homeowners, why they would subsidize big Pharma at the expense of their base voters. And I think I've finally gotten some of what's going on.

The president, and the Democrat's Senate leadership, reject movement liberalism. The ideology they follow is grounded in the impact of globalization on world capital and labor markets. They believe the US has to reduce labor costs to be 94 they’re the pros who have risen, through merit and diligence, to their positions.

This rings absolutely true in my own experience. The dominant theme within corporate structures has, for some time now, been about methodologies of organizing. I'm not talking about grunt-level organizing; the GANT charts and ITIL and ISO-9000 or Vann diagrams, RACIs and SIPOC... but a different trend altogether.

I'd argue, based on nothing but gut feelings and common sense, that we're entering a period where the dominant organizing principle of human culture is commerce for its own sake -- above nationalism, partisan politics or ideologies; even religious belief.

Business from a senior management or executive perspective has always been about creating structures to lead and motivate numbers of people to perform tasks which produce value. To them, this is beneficial, desirable, and (for them) the greatest high there is. They create an idea, champion it by negotiating support; build teams and processes; all to reach specific 'outcomes'.

Effectiveness as a manager is measured by how well and how quickly they can move from concept to execution, or go-live, or to market. This has been the case in business for generations.

However, technological development since the early 60's has allowed business to be conducted at light speed. It has opened up new industries (computing, software and and infrastructure, and new modes of commerce) and changes in how established business and markets are conducted.

Because the global, daily flow of money is the engine for corporate business and sovereign finances as well, some of the most profound changes have been in banking and finance. It doesn't mean just faster bank transfer times or quicker reconciliation of journal entries -- it's created entirely new, 'exotic' methods of investment (The past ten years have given us a taste of what that's like: How'd that work out for the world, by the way?).

Briefly put, I don't see the old trinity of business, government and finance as the main arbiters of human society any longer. Governments nearly everywhere have allowed globalization to develop to the point that multinationals now have organized political clout to counter policies by recalcitrant governments: The WTO. They have treaty and trade structures created for their benefit, such as NAFTA.

Consequently, national governments are superfluous to global corporate planning except as potential barriers to competition and acquisition, development, and profit. In this structure, human beings are an afterthought, except as consumers to be influenced by advertising, and 'resources' to be employed or dismissed according to the needs of the corporations.

Above all this is The Great Game of finance and the markets -- and not for individual shareholders and investors. The Great Game is for banking and investment houses, insurance companies, hedge fund and private portfolio managers; all of whom who deal with values in the billions -- and who provide financing for purely business corporations, who are first cousins: Banking and finance has been corporatized now, too.

Governments don't figure into their equations, either, except as something to influence with tiny infusions of campaign cash or free golf trips; paltry gifts for such massive return -- and that form of corruption has become institutionalized between government to a high degree. Politics is business, conducted by other means.

Human beings don't figure into the equations of finance managers, either. Like corporate business managers fascinated with business organization, financiers are lost inside a house of numbers.

Both corporate types believe in abstraction as the key to a terrible illusion controlling the world -- not some bizarre conspiracy theory, but the desire to believe in an illusion of control through labeling and definitions; through what they believe to be true about systems and people -- who exist, ultimately, to be 'motivated' and controlled to provide outcomes measured by other abstractions, like profit and return on investment.

The fundamental difference between corporate managers and, say, the #OccupyWallStreet protestors, isn't about competing systems of organization or goals, or even values. It's a difference between levels of consciousness, about how one perceives the world and approaches the mystery of what all this stuff is.

The corporate mind literally cannot conceive of, or understand, a mindset that believes in ideals which are allegedly the foundations of the human spirit. The concepts enshrined in the Constitution find lip service with corporations who want to market themselves in America.

In business, everything is negotiable, and so there are no firm principles or ideas -- except loyalty to the Brand and a willingness to execute the plans created by your senior leaders.

They might claim to understand how collective action works -- but where corporate organization has consensus-building, it's performed within a hierarchical, top-down structures, which rely on paradigms of direction coming from an acknowledged leader, success/fail or punishment/reward, instead of reaching shared goals through cooperation without penalties or blame.

It really is a collision of worlds: The value and belief structure of the corporate manager and financier, of many business school professors, do not perceive reality in the same terms as the rest of us. We all want to make sense of the world we inhabit -- but not all of us would agree that to build organizations where competition and profit are the highest expression of the human spirit, or what human culture should strive for, now, in the 21st century.

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's A Fair Cop

No One Could Have Foreseen

Little Rupert, Allegedly Off To Club Baby Seals (Photo: AP; Alteration, Mongo)

Apparently, A British Parliamentary Commission has concluded (in a 6-4 vote split between a pack of inbred Tory Toffs and Honest Labor) that Little Rupert Murdoch is an Oligarch who wanted more power and money and injections with 'extract of monkey glands'; that his son, Jimmy The Fish, in a desperate bid to obtain his father's love (and succeed him as Big Leader of News Corp, and inherit the lion's share of Daddy's estate), tried to be as ruthless and Schlau as his Ol' Digger Daddy and failed; and that Rupert's business model would have put a smile on the face of the charred corpse of Little Joey Goebbels, Rupert's role model.

Alan Cowell And John F. Burns / New York Times / LONDON — "In a damning report after months of investigation into the hacking scandal at Rupert Murdoch’s newspapers, a British parliamentary panel concluded on Tuesday that Mr. Murdoch was “not a fit person” to run a huge international company."

On the basis of the facts and evidence before the committee, we conclude that, if at all relevant times Rupert Murdoch did not take steps to become fully informed about phone hacking, he turned a blind eye and exhibited willful blindness to what was going on in his companies and publications...

This culture, we consider, permeated from the top throughout the organization and speaks volumes about the lack of effective corporate governance at News Corporation and News International...

We conclude, therefore, that Rupert Murdoch is not a fit person to exercise the stewardship of a major international company.

The NYT noted, "In a statement from its New York headquarters, News Corporation said it was 'carefully reviewing the select committee’s report and will respond shortly' ", possibly by invading Poland, or giving Little Glenn Beck his job back -- because giving the world more lies and manipulation is a business model that has worked so well for Little Rupert. Until now, maybe.

Think of it this way: Little Rupert Murdoch is an essentially stupid man, who has pumped nothing but sewage into the eyes and ears of people around the world simply to make a profit -- in that, he's no different than a pimp who puts girls on the street he knows are HIV-positive because there's money in it for him.

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