Book Reviews | Gordon Campbell | News Flashes | Scoop Features | Scoop Video | Strange & Bizarre | Search

 


Guest Opinion: Do you feel fine?

The End of the World as We Know It
Do you feel fine?


By Nipperty Slim


When the rubble is finally 'dozered, the bodies buried, and network television reluctantly returns to normal ad-packed programming, the American economy will count the cost - as a plus! This mortician logic is firmly rooted in the measurement of the national accounts, which treats all expenditure as equal - be they bills for 10k bodybags, multi-million dollar cruise missiles, or spanking new hospitals.

While the physical destruction is staggering, insurance costs alone are estimated at $NZ35 billion, rescue packages and the influx of said insurance money into New York and Washington is likely to fuel a construction boom. After the 1995 Kobe earthquake economic activity actually was higher in the city than it would have been had the 'quake not struck at all. Increased defense spending, and nationwide security upgrades is also likely to act as an immense fiscal stimulus on the US economy. As is always the case, crisis, disaster and war is good for the economy, if only in the short term. I call it the warped dividend.

The physical infrastructure may be rebuilt, but the economy is far greater than the sum of its tangible parts. The importance of confidence to markets, confidence that the future will bring continued conditions for prosperity, cannot be understated. The American stock exchange closed the Tuesday morning of the attack, and up until printing was planning to stay closed until Friday - the longest closure since World War One. Even Pearl Harbour didn't create this much panic. International markets, so dependent on American money and corporations, immediately panicked - dropping between four and twelve percent. While stabilising somewhat last Wednesday, most were closed, waiting for some sort of sign from Dow.

Consumer confidence is rattled. Shopping and borrowing money on credit cards (despite seven continuous quarters of interest rate drops) is likely to be the last thing on American minds. Furthermore, high-risk stocks, such as the high-tech NASDAQ index, are likely to face hemorrhaging, especially at the NASDAQ headquarters was one of the building to sustain significant collateral damage from the World Trade Center Destruction. With unemployment on the rise, and a public more concerned with stockpiling and saving than consuming, the overall effect on the economy, even including the warped dividend, is unclear.

So to sum up all of this mayhem, and show how an Arts degree can allow you to make money on the stock market, here's a new index of stocks that should prosper. American military action will spur increased defense demands, and Middle East oil will become rare, fuelling exploration efforts. Even in times of crisis, where most will lose money, pessimism can make it. Next week will bring an update on how this panned out. As printing, markets were still closed. Remember, investing in these stocks is not only hoping for war, but fueling it. Increased defense spending can only increase the pressure to put its outputs into action. Having said that, don't forget that value-free speculation is part of the Western way...

NIPPERTY SLIM PESSIMISM INDEX
Defense:
BOEING CO : 43.46
GENERAL DYNAMICS : 75.97
LOCKHEED MARTIN CORP : 38.32
RAYTHEON COMPANY 24.85
NORTHROP GRUMMAN CORP : 81.94
BAE SYSTEMS PLC : 317
Despite Boeing losing four planes last week, and a generally slack period for domestic aviation, these companies are likely to be the vanguard of as possible American economic recovery as their products fulfil a public demand for security and justice cum vengeance.

Oil:
BRITISH PETROLEUM : 49.52
EXXON MOBIL CORPORATION : 41.24
ROYAL DUTCH PETROLEUM CO. : 53.87
TEXACO INC. : 70.43
Oil is messy, non-renewable and tends to cause all sorts of international disputes. However in times of crisis oil is, like gold, a tangible asset. And with the Middle East about to explode, these companies may control most of the remaining oil reserves, and will redouble efforts to drill more holes into the earth to allow automobile use to continue unimpeded.

Misc:
ARMOUR HOLDINGS INC. : 14.30
COMMAND SECURITY CORPORATION : 0.61
GUARDIAN INTERNATIONAL : 0.88
VICON INDUSTRIES INC. : 2.02
These companies supply police and private security weapons and uniforms, along with surveillance and security systems. Most of these companies are based in NYC. If paranoia is bankable, investment in these babies should be as safe as with the Central.


ENDS

Interview with Joe Bubulia, ex-New Yorker

This morning I woke up, looked out into the harbour, the birds were singing, and looking at this scene of natural beauty, I had a call from one of my friends saying: "America is being attacked! The twin towers have been destroyed, passenger plane have been hijacked, the president and members of congress are in hiding, the Pentagon has been bombed", and to put that image together with the one I was looking at... it just created a deep sense of the unreal.

I was shocked - my brother works on Wall Street. He wasn't in the area at the time, but I had a number of friends who work in the financial district. Nothing about this surprised me, though. I was shock at the exact way this had happened, but there had been terrorist groups who had declared war on the US for decades, and after the Gulf War we really pissed off a lot of people and since then they've been out to get us. I'd always thought it was going to be some sort of mass chemical attack, or maybe even a nuclear attack, I never thought it'd be a hijacking-suicide attack on the World Trade Centre, nobody did.

There are all sorts of clichés of lost innocence that people are bouncing around right now, and unlike most clichés there are some truth to these. People feel a great deal less secure in New York right now, and I think in America as a whole. Friends I've talked to are expressing a great deal of shock as you can imagine, seeing these two symbols of New York crash to the ground in front of them was devastating and not knowing what will happen next will cause more fear.

In spite of my love for my country, I don't have full confidence in its leaders to react in an appropriate way. The anger frightens me, as much as the events themselves. I think it will be a vendetta, I think that the United States will respond with overwhelming force to this terrorist attack which was perpetrated, I think we'll see, largely by a few fringe rogue elements and a maybe few crucial Middle Eastern states. But I suspect that the counterattack will be nothing compared to what we've seen this week.

The early indications are that there is some Middle Eastern component in this attack, and I think that this can only be bad for peaceful Middle Easterners living in America. We've seen this before in the 1940s when Japanese Americans were rounded up and placed in camps after Pearl Harbour.

I think that this is the end of an era of relative peace and relative absence of terrorism on American soil... Because of the gravity of the situation, the people responsible for this crime should be punished. But it shouldn't be a wild lashing out.

ENDS

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

Werewolf: Living With Rio’s Olympic Ruins

Mariana Cavalcanti Critics of the Olympic project can point a discernible pattern in the delivery of Olympics-related urban interventions: the belated but rushed inaugurations of faulty and/or unfinished infrastructures... More>>

Live Blog On Now: Open Source//Open Society Conference

The second annual Open Source Open Society Conference is a 2 day event taking place on 22-23 August 2016 at Michael Fowler Centre in Wellington… Scoop is hosting a live blog summarising the key points of this exciting conference. More>>

ALSO:

Buildup:

Gordon Campbell: On The Politicising Of The War On Drugs In Sport

It hasn’t been much fun at all to see how “war on drugs in sport” has become a proxy version of the Cold War, fixated on Russia. This weekend’s banning of the Russian long jumper Darya Klishina took that fixation to fresh extremes. More>>

ALSO:

Binoy Kampmark: Kevin Rudd’s Failed UN Secretary General Bid

Few sights are sadder in international diplomacy than seeing an aging figure desperate for honours. In a desperate effort to net them, he scurries around, cultivating, prodding, wishing to be noted. Finally, such an honour is netted, in all likelihood just to shut that overly keen individual up. More>>

Open Source / Open Society: The Scoop Foundation - An Open Model For NZ Media

Access to accurate, relevant and timely information is a crucial aspect of an open and transparent society. However, in our digital society information is in a state of flux with every aspect of its creation, delivery and consumption undergoing profound redefinition... More>>

Keeping Out The Vote: Gordon Campbell On The US Elections

I’ll focus here on just two ways that dis-enfranchisement is currently occurring in the US: (a) by the rigging of the boundary lines for voter districts and (b) by demanding elaborate photo IDs before people are allowed to cast their vote. More>>

Ramzy Baroud: Being Black Palestinian - Solidarity As A Welcome Pathology

It should come as no surprise that the loudest international solidarity that accompanied the continued spate of the killing of Black Americans comes from Palestine; that books have already been written and published by Palestinians about the plight of their Black brethren. In fact, that solidarity is mutual. More>>

ALSO:


Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news