stepping stones

photograph and print by griffith lighton (1976)

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from spring to sprung

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Antecedents of Intention

The harm done from the 08-09 financial crisis is described as being unintended. This means that what derived from it — consolidation of net worth, resulting in the record income inequality we have now — was also unintended.

(Do you really believe that?)

You may recall that the policy program, now being advocated by Trump’s new economic adviser, was supposed to provide the income to pay the debt.

Capitalists know very well that the program intends to raise rents against falling median income. The debt accumulated into 08-09, for example, was securitized — bundled to sell a bill of goods, intending a massive fraud, which is a crime!

Like Senator Sanders kept saying during the last presidential campaign: “Fraud is not a legitimate business model!” Since “crazy Bernie” was dubbed by both parties as a scary communist, however, here we are with a president whose chief economic adviser advocates a program we all know does not intend to work for most people. Instead it forces people into unpayable debt by means of intentionally applied, risk-management devices. These devices are really nothing but racketeering schemes argued to be derived from an “oops, that’s just the way it is” natural identity, which forms the fundamental premise (the derivative argument) of Objectivist philosophy.

(If you think philosophy doesn’t matter, think again!)

Let’s keep in mind that aggregate debt is much higher now, worldwide, than before the credit crisis in 08-09. The demand derives from falling median income and has made TBTF banks more profitable than ever before, operating within the regulatory regime of Dodd-Frank.

Also remember that accumulation of monetary assets, referred to as wealth, results in banking it. Banks form to manage it, and not necessarily to lend it but to apply the risk that naturally derives from having to lend it (i.e., yielding to its naturally distributive value on demand).

It “just happens to be” that there is massive demand for debt. The need for income (which is being distributed in the form of debt) accounts for the accumulation of wealth and (like I said at the start of this section on derivative devices) it is all about maintaining who buys the debt, and who actually pays it, on demand, which means it has the legitimate attribute of existing with the antecedents of intention.

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Bear Bailout

Ten years ago Bear Sterns was bailed out to prevent collapse of the financial system.

Bear Sterns was using a derivative device called “securitizing the debt.” Financial analysts typically refer to the use of these devices as risk strategy, which means the fully assumed quantity of risk that naturally exists is fashioned and applied for a purpose.

Despite having a purpose, none of the perpetrators were criminally prosecuted for deliberately doing harm on a massive scale. The argument derived is that the liability is naturally limited. Hedging the risk is standard business practice and the crisis dimension that results just happens; naturally derived, in the aggregate, on demand.

Something that is naturally derivative is expected to happen again. Dodd-Frank was created to govern the expectation of the risk value (what derives from it in the form of profits and losses) since hedging the risk is standard business practice (to determine the distribution of profits and loses — “winners and losers” naturally derived in the realm of “objective reality” no matter what).

(See other articles by griffithlighton on risk value, the use of Risk-Transfer Vehicles, and the natural-identity model that derives the legitimacy of what emerges from strategic management of the risk with a limited liability.)

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Deriving the Problem

According to the Trump administration, trade deficits are bad for the US. It appears that trade deficits are the problem when, actually, they are derivative.

The administration is advancing trade barriers to counter the problem.

Beginning with aluminum and steel, the barriers expand over time to form the problem to be solved instead of what actually derives trade deficits.

The result is an accumulation of errors, derived from the argument, to form what objective reality actually is. Yielding to the objective, the solution is anchored to the problem as it exists at current value. This is a racketeering scheme, not politics, and pathological.

(See other articles by griffithlighton on the attributive value and the organized psychopathy.)

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Making the Derivative Argument

According to Larry Kudlow, a long-time advocate of Reaganomics and now President Trump’s chief economic adviser, the US needs to cut the corporate tax rate even more and strengthen the dollar.

It is not readily apparent but a strong dollar results in big trade deficits, like the US has now, which President Trump says needs to be reduced. Trump’s commerce advisory says, however, that the trade imbalance has a lot to do with currency devaluation. In other words, the department of commerce is saying that a strong dollar derives from devaluation, and that causes the trade deficit.

The derivative argument being made here is intended to transact an interpretation of what reality actually is (and what “the makers” naturally do is color and shape just exactly what it is, but with limited liability, naturally derived, of course). According to Mr. Kudlow, cut taxes for the corporate body, “like Reagan and Kennedy did,” and the US will have the growth (the added supply) to raise interest rates and strengthen the dollar at the same time.

Since the problem to be solved is not the trade deficit but what derives it, commerce officials talk about unfair trade practices. What derived from the balance of trade is record income inequality and equity valuations supported by falling median income, all of which derives from free-trade agreements the president says he opposes. His new adviser, however, supports free-trade agreements that render competitive labor prices and add supply without competitive-price pressure. The difference is due mostly to corporate consolidation, which Mr. Kudlow advocates should pay no taxes because it causes (derives) slow growth.

Since slow growth is what we have now, derived from record, corporate tax cuts of the GW Bush era, and resulting in the Great Recession, Mr. Kudlow’s derivative argument is good, isn’t it? The president should heed his advice since people like Larry Kudlow know that objective reality just is what it is. It just derives (objectively) no matter what, and if we all just yield to it, and don’t fight it (like Ayn Rand argued), we will all be better off, won’t we?

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waning winter color scheme

In videography, and in nature, color changes with temperature. This videographic image re-presents a naturally occurring change in color temperature, digitally brushed.

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