web analytics

A Smidgen of Truth Escapes the msm

Written By: - Date published: 1:19 pm, September 29th, 2011 - 15 comments
Categories: capitalism, class war, debt / deficit, economy, Economy - Tags: , , ,

It’s not often that ‘bald truths’ escape the filtration of the msm. The video below is an example of one of those rare moments.

hat tip Hilary and CV

The follow up in the msm has been rather peculiar and revealing. Rather than focussing on the content or veracity of what Alessio Rastani had to say, there has been an effort to focus on speculation as to whether he was one of the ‘Yes Men’ perpetuating a hoax.

Here’s the thing. Rastani isn’t really saying anything that many of us didn’t already know. But to hear it  ‘straight from the horse’s mouth’?  Well, that’s unusual…and not a little refreshing.

Where Rastani is wrong is in his prescription for surviving the imminent  ‘crash’. He is advocating a ‘if you can’t beat them, join them’ mentality. He is saying that anyone can be a trader and survive or even prosper, by making money from a tumbling market. That’s true in one sense. But also ridiculous in another.

It’s akin to a stewardess standing up on a plane that is plummeting to terra firma with dead pilots on board and asserting that ‘anyone’ can fly a plane  and asking who wants to go into the draw for realising their child-hood fantasy of being an airline pilot.

So besides a trader advocating we should all be traders if we want to avoid immiseration, we have a msm that just sticks it’s fingers in it’s ears to avoid hearing what could well  be a reasonable, if uncomfortable prognosis of the world’s current economic situation.

Meaning it’s a safe bet to assume that we are not going to be hearing any suggestion, that rather than being passive observors to a concentration of private wealth into fewer and fewer hands as financial institutions claim the wealth of the productive economy in lieu of debt owed it in the financial economy, that we could – or maybe even should and with urgency –  bend our will to reclaiming the commons.

p.s. Seems this guy kind of epitomises an honest John Key (if such a thing is imaginable!)  The kind of John Key that nobody in their right mind would vote for. An honest john Key who would have us believe that no matter how parlous the productive economy,  in his honest opinion, everything is just fine.  Aw shit…that’s probably the one heart felt and honest line that John Key trundles out… Happy election guys!

 

15 comments on “A Smidgen of Truth Escapes the msm ”

  1. John Dalley 1

    arrr smiling Jonkey, Building a Better Future. yeah righ, the man is a Muppet. Sorry for offending Muppet fans.

    • J Mex 1.1

      Do you think this post will be updated with the facts that Alessio is a hobby trader?

      http://www.telegraph.co.uk/finance/economics/8792829/BBC-financial-expert-Alessio-Rastani-Im-an-attention-seeker-not-a-trader.html

      Kinda makes a mockery of the whole interview and this post. Straight from the horses mouth? Straight from the mouth of a guy no more qualified to talk about the markets that you or I…

      “He is a business owner, a 99pc shareholder in public speaking venture Santoro Projects. Its most recent accounts show cash in the bank of £985. After four years trading net assets are £10,048 – in the red”.

      “They approached me,” he told The Telegraph. “I’m an attention seeker. That is the main reason I speak. That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking.”

  2. Craig Glen Eden 2

    In muppet land he is second only to George WWWWW I reckon. not only is he a muupet he is wet.

  3. Luxated 3

    I think I just threw up in my mouth a little.

  4. Draco T Bastard 4

    It’s akin to a stewardess standing up on a plane that is plummeting to terra firma with dead pilots on board and asserting that ‘anyone’ can fly a plane and asking who wants to go into the draw for realising their child-hood fantasy of being an airline pilot.

    Bad metaphor. If the plane’s in workable condition then anyone can fly the plane (landing is a little more problematical). Basically, anyone going forward and trying is better than leaving the dead pilots to it.

    The wings have fallen off and the zombie pilots* are saying that everything is fine and just to come forward when your name is called is a far more accurate description of what’s actually happening to the global economy.

    * John Key and his clique

    • DS 4.1

      Zombie pilots? That is possibly the most terrifying fictional imagining ever.

      (Excluding the obvious metaphor).

  5. eurozone 5

    No-one can figure out why he did it – he doesn’t even have a fund – so where is the upside? we think he just had a momentary lapse of judgement and told the truth!!!!

    • Colonial Viper 5.1

      The upside is that he is shorting the world. So he can make a tonne of money as the markets crash.

      Of course, there won’t be a real economy left to buy things from with all his new money, but no plan is perfect.

  6. Afewknowthetruth 7

    I believe the Titanic is a better analogy.

    People who were awake in the early 2000s could see that the ‘Titanic’ was headed straight for the iceberg and attempted to get the course altered and the engines put into reverse -to no avail because captain and officers were determiend to maintian course and speed.

    Now this trader is saying there is money to be made selling life jackets and places on lifeboats.

    Meanwhile, the orchestra plays on, meals are still being served in the restaurant, and most people (especially in NZ) still haven’t noticed the ship is taking in water.

    Schopenhauer pointed out that all truth passes through three stages:

    First it is ridiculed/ignored

    Second it is vigorously opposed.

    Third it is accepted as being self-evident.

    The NZ populace will wake up when enough people have ‘drowned’. Not before, it seems.

    • Draco T Bastard 7.1

      …to no avail because captain and officers were determiend to maintian course and speed.

      Well, actually, they wanted speed up and still do even though we’re now hitting the iceberg.

  7. Richard 8

    quite please i linked this a few days ago 😉

  8. Maynard J 9

    Of course this trader has an interest in promoting this view, as he states – a recession is good. And the more people that think there’s going to be a recession, the greater the chances of there being a recession!

    What a system.

    This is what’s wrong with it: (and I’m going to shout it very loud, apologies):

    THERE ARE INCENTIVES FOR NEGATIVE OUTCOMES. IF YOU LEAVE IT UP TO THE MARKET, IT WILL LOGICALLY AND RATIONALLY DO BAD THINGS.

    • Colonial Viper 9.1

      Well bad for most of us, but good for the few who are the market makers and market movers and shakers.

  9. JS 10

    The Yes Men congratulate his honesty but he is not one of their pranks.
    http://www.guardian.co.uk/commentisfree/2011/sep/29/alessio-rastani-no-prank

Recent Comments

Recent Posts

  • Building back better
    It’s a three-week recess in Parliament – so, no bills are going through the House and no select committees are meeting. But the hard work of our ministers continues, and many of our MPs are back in their electorates, taking the opportunity to meet with local communities and businesses about ...
    1 day ago
  • Greens call for a Warrant of Fitness for rental homes
    The Green Party is launching a petition today calling on the Government’s Healthy Homes Standards to be backed up with a proper Warrant of Fitness (WoF) for rental homes. ...
    4 days ago
  • Securing our recovery: By the numbers
    Our plan to secure New Zealand’s recovery from COVID-19 is working, with the past three months seeing the second-highest number of people moved off a main benefit into work since records began. ...
    1 week ago
  • More Kiwis in work through recovery plan
    The latest statistics show the Government’s focus on jobs is working. The net number of people on a main benefit dropped by around 11,190 people during the past three months, with around 31,240 people moving off a benefit into work. ...
    1 week ago
  • Green Party appoints new Chief of Staff
    The Green Party has appointed a new Parliamentary Chief of Staff, Robin Campbell. ...
    2 weeks ago
  • We’re turning 105!
    It’s our birthday! Today, 105 years ago, the New Zealand Labour Party was founded. And we haven’t stopped moving since: fighting for workers’ rights, expanding protections to boost equality, and upholding democratic socialist ideals. We’re now the oldest political party in New Zealand and, as we celebrate our 105 years, ...
    2 weeks ago
  • Principles for guiding the Emissions Reduction Plan Speech
    Tēnā koutou, tēnā koutou, tēnā koutou katoa. ...
    2 weeks ago

  • New station a platform for AirportLink to take off
    Every Aucklander with access to the rail network will now have a quick and convenient trip to the airport, Transport Minister Michael Wood and Auckland Mayor Phil Goff said during the official opening of the new Puhinui Interchange today. The new interchange links the rail platform with a new bus ...
    BeehiveBy beehive.govt.nz
    7 hours ago
  • 10 days sick leave for employees delivered
    Legislation doubling employees’ minimum sick leave entitlement to 10 days comes into effect today, bringing benefits to both businesses and employees, Workplace Relations and Safety Minister Michael Wood announced today. “Our Government is delivering on a key manifesto commitment to help Kiwis and workplaces stay healthy,” Michael Wood said. “COVID-19 ...
    BeehiveBy beehive.govt.nz
    10 hours ago
  • Prime Minister congratulates Fiame Naomi Mata’afa on Election Win
    Prime Minister Jacinda Ardern tonight congratulated Prime Minister-elect Fiame Naomi Mata’afa on her victory in the Samoa’s general election. “New Zealand has a special relationship with Samoa, anchored in the Treaty of Friendship. We look forward to working with Samoa’s new government in the spirit of partnership that characterises this ...
    BeehiveBy beehive.govt.nz
    20 hours ago
  • Quarantine Free Travel with Australia suspended
    Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today. From 11.59pm today Australians will no longer be able to enter New Zealand quarantine-free. This will be ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Growing conservation efforts in Gisborne
    A big injection of Jobs for Nature funding will create much-needed jobs and financial security for families in TeTairāwhiti, and has exciting prospects for conservation in the region, Conservation Minister Kiri Allan says. “The projects target local communities most affected by the economic consequences of COVID 19 and are designed ...
    BeehiveBy beehive.govt.nz
    1 day ago
  • Flood recovery given further assistance
    The Government is contributing a further $1 million to help the flood battered Buller community, Acting Emergency Management Minister Kris Faafoi announced today. “Buller is a small community which has found itself suddenly facing significant and ongoing welfare costs. While many emergency welfare costs are reimbursed by Government, this money ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Funding for five projects to reduce food waste
    The Government is funding five projects to help address the growing problem of food waste, Environment Minister David Parker announced today. “New Zealand households throw away nearly 300,000 tonnes of food every year, half of which could still be eaten. By supporting these initiatives, we’re taking steps to reduce this ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Temporary Accommodation Service activated for West Coast flooding event
    The Temporary Accommodation Service (TAS) has been activated today - meaning residents on the West Coast of the South Island and in the Marlborough region hit by flooding over the weekend can now access help finding temporary accommodation, announced Associate Minister of Housing (Public Housing) Poto Williams in Westport today. ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • Pause to Quarantine Free Travel from South Australia to New Zealand
    Quarantine Free Travel from South Australia to New Zealand will be paused from 11.59am (NZT) tonight, COVID-19 Response Minister Chris Hipkins has announced. However, people currently in the state who ordinarily live in New Zealand will be able to return on “managed return” flights starting with the next available flight, ...
    BeehiveBy beehive.govt.nz
    4 days ago
  • New Zealand condemns malicious cyber activity by Chinese state-sponsored actors
    New Zealand has established links between Chinese state-sponsored actors known as Advanced Persistent Threat 40 (APT40) and malicious cyber activity in New Zealand. “The GCSB has worked through a robust technical attribution process in relation to this activity. New Zealand is today joining other countries in strongly condemning this malicious ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Remarks to Diplomatic Corps
    It is a pleasure to be with you all this evening. Some of you may have been surprised when you received an invitation from the Minister of Disarmament and Arms Control, and I would forgive you if you were. New Zealand is unique in having established a Ministerial portfolio ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Early Pfizer shipment boosts vaccine schedule
    The largest shipment of the Pfizer vaccine to date has arrived into New Zealand two days ahead of schedule, and doses are already being delivered to vaccination centres around the country, COVID-19 Response Minister Chris Hipkins says. “The shipment of more than 370,000 doses reached New Zealand yesterday, following a ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Backing for Bay of Islands predator free effort
    The Government is throwing its support behind an ambitious project to restore native biodiversity and build long-term conservation careers, Conservation Minister Kiri Allan says. Predator Free Bay of Islands aims to eradicate predators from the three main peninsulas in the region, and significantly reduce their impact throughout the wider 80,000-plus ...
    BeehiveBy beehive.govt.nz
    5 days ago
  • Government commits $600,000 to flood recovery
    The Government is contributing $600,000 to help residents affected by the weekend’s violent weather with recovery efforts. Acting Minister for Emergency Management Kris Faafoi and Agriculture Minister Damien O’Connor have been in the Buller district this afternoon to assess flood damage and support the local response effort. They have announced ...
    BeehiveBy beehive.govt.nz
    6 days ago
  • Government assisting local responses to heavy rainfall and high wind
    Acting Minister of Emergency Management Kris Faafoi says Central Government is monitoring the severe weather across the country, and is ready to provide further support to those affected if necessary. “My thoughts are with everyone who has been affected by this latest event, particularly communities on the West Coast and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PM Ardern chairs APEC Leaders’ meeting on COVID-19
    New Zealand Prime Minister Jacinda Ardern has chaired a meeting of Leaders representing the 21 APEC economies overnight. “For the first time in APEC’s history Leaders have come together for an extraordinary meeting focused exclusively on COVID-19, and how our region can navigate out of the worst health and economic ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Health Minister welcomes progress on nurses’ pay
    The New Zealand Nurses Organisation’s decision to take the Government’s improved pay offer to members and to lift strike notices is a positive move towards settling district health board nurses’ pay claims, Health Minister Andrew Little said. “It’s encouraging that the discussions between NZNO and DHBs over the nurses’ employment ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Boost for Pacific regional business
    Pacific businesses will get a much-needed financial boost as they recover from the effects of the COVID-19 pandemic thanks to the new Pacific Aotearoa Regional Enterprise Fund, said Minister for Pacific Peoples Aupito William Sio.  The new $2 million fund will co-invest in Pacific business projects and initiatives to create ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • PM Ardern call with President Biden
    Prime Minister Jacinda Ardern spoke with US President Biden this morning, ahead of the APEC Informal Leaders’ Retreat on COVID-19. “President Biden and I discussed the forthcoming APEC leaders meeting and the critical importance of working together as a region to navigate out of the COVID-19 pandemic”, Jacinda Ardern said. ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Renewed partnership creates jobs for New Zealand youth
    The Government has signed a new memorandum of understanding (MoU) with the Mayors Taskforce for Jobs, strengthening the partnership to get more young people into work.  The Mayors Taskforce for Jobs (MTFJ) is a nationwide network of all Mayors in New Zealand, who are committed to making sure all young ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • South Island areas prioritised in tourism fund
    Five South Island areas are prioritised in the latest round of decisions from a tourism fund that is supporting infrastructure projects from Cape Reinga to Stewart Island and the Chathams. Tourism Minister Stuart Nash has announced details of 57 nationwide projects to receive support from the Tourism Infrastructure Fund (TIF). ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • New code sets clear expectations for learner safety and wellbeing in tertiary education
    A new code of practice for the pastoral care of domestic tertiary and international students will be in place from January next year, Education Minister Chris Hipkins announced today The code, which makes clear that creating an environment that supports learning and wellbeing is a shared responsibility between tertiary providers, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • First TAB New Zealand Board appointments announced
    The members of the first TAB NZ Board come with experience in racing and sport administration, business and governance, the betting industry, broadcasting and gambling harm minimisation. “This Board will progress from the excellent work done by the interim board, put in place in August 2020,” Grant Robertson said. “The ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Northland Maori Pathways initiative introduced
    The Government has today launched Māori Pathways at Northland Region Corrections Facility, a ground-breaking series of initiatives designed in partnership with Māori to reduce re-offending and improve outcomes for whānau. A key part of the Hōkai Rangi strategy, Māori Pathways looks to achieve long-term change and involves a number of ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Extended Essential Skills visas being rolled out
    Two year Essential Skills visa to provide certainty to at least 18,000 visa holders Streamlined application process to benefit at least 57,000 visa holders The Government is increasing the duration of some Essential Skills visas and streamlining the application process to provide more certainty to employers and visa holders while ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Pause to Quarantine Free Travel from Victoria to New Zealand
    Quarantine Free Travel from Victoria to New Zealand will be paused from 1.59am (NZT) Friday, COVID-19 Response Minister Chris Hipkins has announced. The decision follows updated public health advice from New Zealand officials and a growing number of cases and locations of interest. The pause will run for at least ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Hydrogen arrangement signed with Singapore
    The signing of an Arrangement of Cooperation on low-carbon hydrogen with Singapore heralds the start of greater collaboration between it and New Zealand as both countries transition towards low carbon economies, says Energy and Resources Minister Megan Woods. The cooperation arrangement between New Zealand’s Ministry of Business, Innovation and Employment ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Hydrogen agreement signed with Singapore
    The signing of a Memorandum of Cooperation on low-carbon hydrogen with Singapore signals the start of greater collaboration between the two countries as they transition towards low carbon economies, says Energy and Resources Minister Dr Megan Woods. The cooperation agreement between New Zealand’s Ministry of Business, Innovation and Employment and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Speech to LGNZ Conference
    Kia ora koutou katoa and thank-you for the invitation to speak to you all today. I would like to acknowledge Local Government New Zealand President Stuart Crosby, and Chief Executive, Susan Freeman-Greene, Te Maruata Chair, Bonita Bigham, and our host, Mayor John Leggett. I also acknowledge all the elected members ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government to provide support for water reforms, jobs and growth
    The Government today announced a $2.5 billion package to support local government transition through the reforms to New Zealand’s drinking water, wastewater and stormwater services. The package will also stimulate local economies while creating jobs and unlocking infrastructure for housing. “New Zealand’s water systems are facing a significant crisis and ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government Initiatives Contribute to Fall in Benefit Numbers
    Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit. “This Government’s plan to increase work focused support for Jobseekers is paying off,” Carmel Sepuloni said. “All up Benefit numbers ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Tourism support package continues rollout
    Mental wellbeing support is being rolled out to five South Island communities most affected by the absence of international tourists. Tourism Minister Stuart Nash today announced details of how tourism operators and communities can access the help announced in May as part of the government’s $200 million Tourism Communities: Support, ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • NZ-PNG Sign Statement of Partnership
    New Zealand’s Prime Minister Jacinda Ardern and Papua New Guinea’s Prime Minister James Marape signed the first ever New Zealand - Papua New Guinea Statement of Partnership today. “This new Statement of Partnership reflects the importance we place on the close economic, cultural and people-to-people links our two countries have ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Further advice being sought on new cases in Victoria
    Further advice is being sought from public health officials following seven new positive cases of COVID-19 in Victoria today, COVID-19 Response Minister Chris Hipkins says. “There are also a growing number of locations of interest that are of concern, including a sports stadium on Saturday and several pubs,” Chris Hipkins ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Christchurch Learning Community Hubs supporting ethnic families
    As part of the Government’s ongoing commitment to working with the victims and those affected by the March 15 terror attacks, today Associate Minister of Education Hon Jan Tinetti released the report ‘Voices from the Ōtautahi’ on the Christchurch Learning Community Hubs. “It’s so important we continue to support the ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Hundreds more hands funded to work for nature
    Supporting biodiversity protection through community-led projects and on private property will create at least 500 more jobs under the Mahi mō te Taiao/Jobs for Nature programme, Minister of Conservation Kiritapu Allan announced today. “The work we are funding includes everything from pest control and restoration planting to plant propagation, skill ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Saliva testing expansion for frontline border workers
    All frontline border workers who are required to be regularly tested for COVID-19 will soon be able to choose regular saliva testing as a full replacement for nasopharyngeal testing, COVID-19 Response Minister Chris Hipkins has announced. Saliva testing will be expanded as an option for all those on a regular ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Government consults on freshwater farm plan
    The Government is inviting farmers and growers to provide their practical ideas to help develop high-quality and workable freshwater farm plans, in line with its freshwater goals said Agriculture Minister Damien O’Connor and Environment Minister David Parker. The ministers today released the consultation documents for freshwater farm plans and stock exclusion low slope maps. Comment is being sought on a new, more ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Increased support for midwives
    New measures to help bolster the midwifery workforce as they care for the next generation of New Zealanders, have been announced today by Associate Minister of Health Dr Ayesha Verrall. “New Zealand’s midwives are committed to the wellbeing of women and whānau, but they’re facing significant challenges. The DHB midwifery ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister's Speech to NZIIA Annual Conference
    Ladies and gentlemen, distinguished guests, ata mārie, tēnā koutou katoa. It’s a great pleasure to attend an event on such an important topic as New Zealand’s future in the Indo-Pacific region. Thank you to the New Zealand Institute of International Affairs for bringing this hui together. I am encouraged to ...
    BeehiveBy beehive.govt.nz
    1 week ago