ze (and as a symbol – the consolation of the weeping Kamila Valieva in the arms of Olga, not one of the coaches). But here we can start a discussion about the transformation of all Russian TV into a branch of the OQR press service and the need to support Russian athletes at international starts. The text turns out to be gigantic anyway – leave it to the residents of the hot branches about the figurine on Sports.ru.
For Match TV, the 2022 Olympics failed – probably because “Match” showed live only 10 of the 32 medals of the Russian national team. At the Olympics, spectators are still following our victories over ours, this has been repeatedly proven not only at the Olympics, but also in other sports broadcasts. The same text of “Kommersant” says that only 19% of all viewers of the 2022 Games watched the broadcasts of the “Match” (81% stuck only to the figure, skiing, biathlon and hockey on the two main buttons).
What I liked: the work of Stanislav Minin and Andrei Kolganov on ski jumping, the dedication and enthusiasm of Anna Makarova in sledding.
What I didn’t like: the sleepy Igor Shvetsov (who raised his voice once or twice in 12 days in Beijing, and surprised even Sergei Mikulik), too powerful for the Olympics Andrei Golovanov on the same sleigh and constantly looking for a plot in the short track Olga Bogoslovskaya.
Here are all the impressions of the “Match”, which seems to prohibit experts from working on other channels during the Olympics (otherwise you will not see broadcasts next season), but which still does not grow fresh color commentators and do not progress available. The only exception is the same Kolganov on the springboard.
Creator of Television-Sport.com Ilya Firsov (subscribe to the best telegram channel about sports tv!) predicts the emergence of Okko among the Olympic broadcasters in 2024 – TeleSport’s connection with the “Gathering” will only become stronger, and therefore the coverage of the Games will only become more interesting. At least the next Olympics showed the dedication of the First Channel, the skill of Dmitry Guberniev from the Second and the lack of boredom that reigned on “Match TV”.
Good to hear from you, Vincent - always good to talk to another Bonzo Dog fan and archivist (and I'm guessing a Beatle archivist as well). Viv did so much amazing work in his later days that hasn't gotten a lot of play, and does need some sort of organization to push it out in front of people. I di...
Yours seems to be a different show. My recording has no Swanee, no Canyons and no Cool Britannia. The date must be quite accurate because the TV show was aired in Januari and the presenter refers to the recording as being "made last month". I also believe the recording is either the full s...
There's a rather nice 11-CD set of Bonzo Dog (Doo Dah) Band material now up at a Bay of Pirates. Not my work; I'm downloading it now. Hello Garrett, When searching for Bonzo video's I came across your wonderful site. You have really great stuff here! The Talking Pictures upgrades look nice. Let me...What will the end of current financial system look like?
- By Bill Bonner
Cafayate, ArgentinaCafayate, Argentina
Yesterday, we gave a speech to a group here in Cafayate. What we said, more or less, follows:
Today, I'm going to tell you about the end of the world.
Not really the end of the world, of course. But the end of the financial system that was set up in 1971. And I think it may feel like the end of the world, because of the social chaos it will provoke.
Money is more than money. It is condensed life. It can represent a lifetime's work and saving. Or the status of a person who has earned an important position and now earns a salary to match. Or, the cleverness of a trader.
When the money turns out to be fraud, everything else can look like a fraud too. The hard work and self-discipline, the honest business and energetic enterprise, the education or skill accumulated over the years - all the things it took to get the money look like a waste of time. When the money is phony, it calls into question the values and virtues of the whole system.
And let me begin with a disclaimer that is so obvious that it shouldn't be necessary,
But I don't want anyone coming up to me a few years down the road and telling me that I was wrong. I've been wrong about a great number of things...and for a very long time. I don't need any reminders.
And if you think I've got this all figured out...you've got me mixed up with someone else.
Of course I'm going to be wrong. It is not given to man to know his fate. There are so many possible futures, the odds that I have chosen the right one are slim. So, I will probably be wrong. And I hope I am.
But the mark of a good economist is that he can make bad forecasts, one after another, without losing his conviction.
And if I am only partly right - which is most likely - you might want to keep this in mind and maybe even prepare for it.
Of course, I've been predicting the end of the world - at least, the end of the post-1971 monetary world - for a long time. Sooner or later I'll be right about it. But I'm beginning to feel I'm doing you a disservice by continuing to warn about it. I'm a little like the surgeon who has just botched an operation. He sees the patient, stiff on the table, and wonders if he should go back to the textbooks. Maybe the ankle bone is not connected to the leg bone after all.
But the textbooks are largely hopeless. They're written by modern economists who think an economy is mechanistic, not humanistic. They have fixes for every problem and wrenches in both hands.
They run the central banks. And they think they know what is going on...and what they're going to do about it. So they give you "forward guidance." But it is worthless. Worse than worthless, it suggests knowledge and foresight, neither of which the authorities actually have.
Do you remember the Fed giving us 'forward guidance' before the crisis of '08? I don't. In fact, Ben Bernanke and Janet Yellen had no idea what was happening. They couldn't give any forward guidance about that crisis and can't give any about the next one.
They just react to events. They neither see them coming nor control them. And they have only one major reaction - more credit. But you can't solve a debt problem with more debt. Debt is all the Fed has. And that is what it and the ECB and the BOJ are offering...more credit, and its flip side, more debt. They are committed to this policy of providing more and more credit to a world that is already drowning in it.
I should stop here and say a few words about how this economy actually works.
These clumsy mechanics at the Fed ECB and JOB think they can turn knobs, adjust levers And so forth. But an economy is an organic thing, with intricate feedback loops and delicate adjustment systems. It responds to the ham-fisted grease monkeys at the Fed, but not necessarily the way the feds want. It is far more complex than they can ever understand, let alone control.
Right now, they are getting away with staggeringly, jaw-dropping policies. The markets are not yet punishing them. In fact, they seem to be rewarding this kind of innovation. And our US Fed is hardly the biggest innovator or the most world's most aggressive central bank.
In Europe, for example, what is an Italian 10-year bond yielding 1.1% if not an invitation to trouble. How about a Spanish bond at the same yield? Or how about a super safe German bond with a yield of 0.2%?
It's impossible to know what will happen - exactly - but that someone is going to lose money as a result of these ultra-low bond yields. They're unnatural. Ghastly. And dangerous.
In Europe, as in America, consumer prices have been rising sharply for the last 40 years. Maybe that trend has come to an end. If so, the central banks are keeping quiet about it. Their forward guidance tells us to expect 2% per year. And if that is so investors in all these European sovereign bonds will lose investors' money.
But the risk is not just that consumer prices will rise faster than the yield will pay interest, it is also that the payer won't pay. Europe's governments are deeply in debt. It is not likely that they will ever be able to repay so much debt. And the ECB is making it easier to go further into debt. In its latest initiative, the ECB is buying 4x the new debt issues in the Eurozone.
Europe already has the lowest bond yields in 150 years. One third of the total now trades at negative yields. What sense does it make to drive yields lower still...by bidding up further the price of bonds?
None at all...except that the ECB is cynically taking a lot of bad debt off the hands of its member banks - at a profit to them.
And try to imagine the European government that will reject an increase in health care spending, or infrastructure spending, or any kind of spending,