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AGelbert

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Re: Money
« Reply #480 on: December 05, 2018, 05:56:41 pm »
This altruistic tenet is sine qua non to Socialism. That means that the closest thing to actual socialism that has ever been tried is what, imperfectly, but it was close, controlled distribution of labor and goods for the common good during the Early Christian Church.

Don't forget the Potlach societies of the Pacific Northwest, which at its peak shared goods between more than 15 tribes and 200,000 people and lasted into the 19th century when it was made illegal by Capitalists.


RE

Well said, RE. Excellent point! It underscores the fact that, in human relations throughout history, altruism has always been at the core of really successful societies.

But there is more the Social Darwinists refuse to acknowledge, as Ashvin, with his continual defense of "justified" seeking of privilege under Capitalism, evidences. The ideology, a direct result of the Evolutionary Theory  corollary that predators can "do whatever they want" because they are "apex" is itself the basis of the flawed world view that it's, not just "a-okay". but "desirable", for the smartest humans to lord it over other humans. That flawed world view claims to be "supported by science". Well, the whole deal with Evolutionary Theory is a process that Darwin claimed continually selects the fittest individual within a species, and also provided the basis for perpetuating the fittest species in competition with other species for resources.

Here's the giant biosphere species "elephant" in the "apex predators are it" room.

Darwin, to his credit, did say that altruism was important in human affairs. Of course he meant certain humans, not the ones that were, uh, "backward" or "unintelligent" "sub-species" (wrong color, kinky hair, etc.). We know now that he was wrong there, but that isn't the real problem with Social Darwinist assumptions.

Assuming that evolution is the cause of every species that "succeeded", through natural selection, to populate the biopshere in the year 2018, it is logical to ask how long these obviously successful species have been around. It is also pertinent to ask how large is the biomass of species to learn which ones are the most successful of all.

Darwin did not know the answer to either of those questions. We know the answer now.

Embarrassingly for the Capitalists, who base their ideology on Social Darwinism, is the fact that the social insects are the most successful species in the biosphere by both species longevity and biomass. If these Social Darwinsts had an ounce of integrity, they would realize (and admit) that species that are not part of the various social insect species on this planet are all newcomers and, compared with the ants and termites (to name just two, both of which have several species among them) are newcomer experiments. The fossil record is full of predators that died off. Ants have not changed for, according to modern science, hundreds of millions of years. They apparently haven't "evolved further" because they are so successful, in their social insect colony way, at perpetuating their species.

Darwin missed that in his zeal to put white Europeans at the top of "apex" predator Evolutionary "fittest" peak. Science knows bettter now. Science knows that apex predators are the first to die off when natural disasters strike. Science knows apex predators are the most fragile of species in the trophic pyramid. Wall Street, and all the Capitalist crooks that curse our society today, missed that memo.

As I said earlier, we are not ever going to be able to function as a social insect colony. But, that is analogous to the completely altruistic Socialist Society we must strive for, if we wish to be as successful as the ants. Anyone that claims that humans are a "more successful species" than ants is into wishful thinking.



I see Ashvin is doing a bit of Scriptural cherry picking. ::) Ashvin is trying to derail the central issue here, which is the merits of altruism over privilege seeking behavior in human society. Here's what Christ said about the motive behind every act of service that the leadership in His Church had to live by when his privilege seeking disciples asked Him about who is the greatest:

Quote
Luke 22:24-27

24 And there was also a strife among them, which of them should be accounted the greatest.

25 So Jesus declared, “The kings of the Gentiles lord it over them, and those in authority over them call themselves benefactors.

26 But you shall not be like them. Instead, the greatest among you should be like the youngest, and the one who leads like the one who serves.

27 For who is greater, the one who reclines at the table or the one who serves? Is it not the one who reclines? But I am among you as the One who serves.

Christ was, of course, keenly aware of the "might is right" world view shared by most people at that time, just like it is today. He deliberately flipped on its head the greed based status quo motive for doing whatever from obtaining privilege to the daily practice of altruism. Christ was not playing with words.

If what Christ ordered his disciples to do back then is not a perfect example of the altruism inherent in true Christianity, I don't know what is. Also, if that is not a perfect example of Christian Socialism in action, I don't know what is.
« Last Edit: December 05, 2018, 06:59:10 pm by AGelbert »
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AGelbert

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Re: Money
« Reply #481 on: December 05, 2018, 07:54:13 pm »
Marine Traffic Collapse Meter

Agelbert NOTE: The following is a screenshot of today's global marine traffic. This relatively normal activity for today is a valuable reference for all of us. Why? Because we can compare it with activity in the future.

In this, the "Money" topic thread, World Maritime activity can be checked here 👀 to see when an imminent collapse situation is in progress. IMHO, Capitalist economies will first evidence imminent collapse by the absence of marine traffic. 

I call this the Marine Traffic Collapse Meter. I will post a screenshot now and then, but anybody else is welcome to do so. I will also post marine related stuff here that I find of interest.
 
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Re: Money
« Reply #482 on: December 06, 2018, 12:47:27 pm »
Bernie Sanders: Concentrated Wealth is Concentrated Power

December 6, 2018

Sen. Sanders joins Paul Jay who asks if breaking up the big banks is enough to weaken the power of Wall St.


Story Transcript

PAUL JAY: Welcome back to The Real News Network. I’m Paul Jay. We’re in Burlington, Vermont at the Sanders Institute Gathering. And once again, we’re joined by Senator Bernie Sanders. Thanks for joining us.

BERNIE SANDERS: My pleasure.

PAUL JAY: In one of the panels yesterday you said it’s not just about concentration of wealth and how the inequality, how unfair that is, the suffering it causes. But concentration of wealth means concentration of power. How do you challenge that power?

BERNIE SANDERS: This is not easy stuff. But we are certainly not going to deal with it if we don’t discuss it. And one of the crises that we face right now is that you’ve got a media that will not talk about this issue. And you’ve got, essentially, two parties that don’t talk about it very much. And I think one of the things that I wanted to do in my presidential campaign is kind of bust this whole thing open. Let’s talk about the real issues. You know, whether CBS likes it or not.

So what you have here is, first of all, massive income and wealth inequality. And as a nation we have got to think from a moral perspective and an economic perspective whether we think it is appropriate that three people, one, two, three, own more wealth than the bottom half of the American society. You know, that’s really quite outrageous, and it’s appropriate that we take a hard look at that. But it is not just that the one tenth of 1 percent owns more wealth than the bottom 90 percent. They don’t put their wealth underneath their mattresses, right. They use that wealth to perpetrate, perpetuate their power. And they do that politically. So you have the Koch brothers 🦕🦖 and a handful of billionaires 😈👹💵🎩 who pour hundreds of millions of dollars into elections, because their Supreme Court
 
gutted the campaign finance laws that were in existence, and now allow billionaires quite openly to buy elections.
 

So wealth equals power, politically. Wealth means that if I own a company in the United States, I own a GE plant, where there may be hundreds or thousands of workers, and that plant may be making money, but not as much money as it could make if I took it to China or to Mexico, I have the power to do that. Because politicians are not going to stop me. Because we have disastrous trade laws. If I am a billionaire, it is likely that I will have control over media, as well. So you have a handful of media conglomerates owned by some of the wealthiest people in this country and in the world determining what the news is; what is appropriate for the American people to discuss and not to discuss.

Now what–my wife Jane, she put this thing together, I’m a guest here. But what she understood is that when we deal with climate change, when we deal with the economy, when we deal with housing, when we deal with criminal justice or immigration issues, we have got to deal with those in a holistic way, and understand why all of that is happening. Not see them as separate issues. And a lot of that has to do that we live in a nation owned and controlled by a small number of multi-billionaires whose greed, incredible greed, insatiable greed, is having an unbelievably negative impact on the fabric of our entire country.

PAUL JAY: The process of financialization that’s taken place over the whole 20th century, especially since World War II, where finance, Wall Street is so dominant in the economy. And this concentration of ownership and concentration of power is, nowhere is that more important than in the financial sector, because it permeates everything.

BERNIE SANDERS: Yes.

PAUL JAY: But every attempt to regulate finance has been without much success at best, and currently whatever there was is being dismantled. Doesn’t there needs to also be a building up of the public sector, starting with banking? Some kind of public banking? Because you can’t really reform these guys, because they all-

BERNIE SANDERS: I don’t know that you can’t reform them. And I think your point is, though, very well taken. What we need–look, let’s be clear. You have … I will never forget, Lloyd Blankfein, the head of Goldman Sachs, came to Congress a few years ago. And this is after the taxpayers of this country bailed them out because of their greed and their illegal behavior. This is chutzpah. These guys, after being bailed out by the middle class and working families of this country, after causing incalculable harm, which–the Wall Street crash cost us millions of jobs, people lost their homes, they lost their life savings. These guys, after getting bailed out, they come to Congress. They say, you know, what we think Congress should do is you gotta cut Social Security, and Medicare, and Medicaid. And by the way, lower corporate tax rates and give more tax breaks to the wealthy. That’s power. That’s chutzpah. We have it all, we can do whatever we want to do. And I think the power of Wall Street.–you’ve got a half a dozen banks that own over 50 percent, equivalent to 50 percent of the assets in our GDP. And we have got to stand up to them.

Now, your point is, OK, while we try to do that, are there other alternative models? And right here in the state of Vermont I am a strong advocate of a state bank, for example, where we can use the tax revenue that comes in for the public good, to help us create jobs, deal with agriculture, deal with the environment and climate change, and so forth.

PAUL JAY: Because the blackmail that happened in ’07-’08, too big to fail, and too big to go to jail. And-

BERNIE SANDERS: That’s right. And we have–but I don’t want to give up that fight. We have legislation in that is so–commonsense legislation, that when you have a handful of banks that have such incredible control over our economy that when they agreed destroys the economy they have to be bailed out because they’re too big to fail. But it also gives them unbelievable political power. You gotta break them up. And we have legislation in there that would break up the largest banks and financial institutions in this country. And that’s what we should do.

PAUL JAY: But aren’t you concerned that, like when the telecoms were broken up, they reassemble. The capital behind the big banks are still there. And I’m not suggesting breaking up the big banks isn’t a good thing. But don’t you need a public bank at a scale that next time there’s, there’s this blackmail, you can say, you know, go speculate. If you go down, you go down.

BERNIE SANDERS: I’m not arguing with you, I agree with you. And I think right here in Vermont right now there are a number of people in our legislature, and I support this effort, that want to see a public bank. Ironically enough, you know what the oldest state public bank in the country is?

PAUL JAY: North Dakota.

BERNIE SANDERS: North Dakota. They’ve had it, I think, since the ’20s. And it’s worked pretty well for them. You know, we’re trying to strengthen credit unions, as well. And since the Wall Street crash, by the way, I think credit unions have seen a lot more capital coming in and a lot more growth.

PAUL JAY: Just finally–I know you have to run. The primary in 2016 got quite bitter. We know that whoever, whoever released these emails, and all the rest–we know the DNC was manipulating things in favor of Hillary Clinton and against you. This fight heading into 2020, whether you’re the candidate or there is a candidate that’s on the Sanders-esque kind of platform … This fight in the Democratic Party is not, in my opinion, just a difference of opinion how to get to the same place, which is sometimes framed that way. There’s a real struggle of interest here. The fight against the oligarchy–well, there’s an oligarchy in the Democratic Party. And there’s a fight there. How do you see this campaign unfolding?

BERNIE SANDERS: I’m proud that out of our campaign, I think, we have seen a significant increase–not just out of our campaign–but a great deal of grassroots activism all across this country. This new incoming freshman class in the Congress is not only going to be the most progressive freshman class in a very long time, but the most diverse. More women, more people of color, et cetera. Also, I think what is happening in this country is that to a significant degree we are winning the ideological struggle. Three years ago, as you recall, Medicare for All was seen to be a radical, fringe idea. Last polls that I saw, 70 percent of the American people support Medicare for All. And more and more Democrats are coming on board. Raising the minimum wage, 15 bucks an hour. Radical idea a few years ago; kind of mainstream today. Rebuilding our crumbling infrastructure, making public colleges and universities tuition-free, dealing with student debt, dealing in an aggressive way with the unbelievably dangerous challenge of climate change. I think more and more people understand that. Criminal justice reform. Immigration reform.

So many of the ideas that we campaigned on have now gotten broad support throughout the country and within the Democratic Party. But as, I think, your point makes, look. There is an establishment within the Democratic Party. There are Wall Street contributors in the Democratic Party, corporate contributors in the Democratic Party. And they have a very different and more conservative vision for the future of the Democratic Party than I do. My vision is pretty simple. My vision is that we have got to have the guts to take on Wall Street, take on the pharmaceutical industry, take on the insurance industry, take on the 1 percent, create an economy that works for all. And while we do that, we bring our people, and that is black, and white, and Latino, and Native American, and Asian American together. I think that’s the way you do it. And we’re beginning, beginning, beginning to see that. We’re seeing great young candidates who didn’t wait on line for 20 years to get permission to run, but kind of jumped in and beat some long-term incumbents. They’re saying, hey, I come from the community. I know what’s going on in this community, and I’m going to fight for working people, and I’m not afraid to take on big money. We’re seeing that. We got to see more of that.

So a two-part approach. Number one, we need to fight for our agenda. We need to elect candidates from the grassroots who are going to, are going to implement that agenda.

PAUL JAY: All right, thanks very much for joining us.

BERNIE SANDERS: Thank you very much.

PAUL JAY: And thank you for joining us on The Real News Network.

https://therealnews.com/stories/bernie-sanders-concentrated-wealth-is-concentrated-power
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AGelbert

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Re: Money
« Reply #483 on: December 06, 2018, 07:29:10 pm »
THIS was two days ago (the markets were closed yesterday).


THIS is the  way it is going, so far, TODAY:




The (PROTECT THE CAPITALIST ELITE CROOKS) Plunge Protection Team springs in to save the "free" market from REALITY.


Ain't Dat CAPITALISM just wonerful?  ;)
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AGelbert

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Re: Money
« Reply #484 on: December 07, 2018, 07:17:36 pm »
   


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AGelbert

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AGelbert

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Re: Money
« Reply #486 on: December 10, 2018, 12:29:57 pm »
by Tyler Durden Mon, 12/10/2018

Nasdaq Plunges Into Red For 2018 - Worst Year In A Decade

  Truth filled comments:

LawsofPhysics
LOL! Talking about "prices" in the absence of a mechanism for true price discovery is a fool's errand.

Everyone has been admitting for 10+ years now that the world's "markets" are being managed by central banks and the financier/ownership class!!!!

there is no "market" for ****'s sake, stop pretending there is.

Place you damn bets, but stop being such disingenuous ***** and talking your books/bets.

nonutn
DJ was down over 500 and recovered some. PPT to the rescue.

CashMcCall
Trump : "The stock market loves my trade economic policies"

2018 Worst performing stock markets in a decade.  ;D


Rapunzal
It’s all planned by the ruling class, our banking elites. They will use the FED and Trumps “Trade Wars” as an excuse. As expected. All a show until it isn’t.

NoDebt
You mean to tell me that an index loaded to the brim with negative-profit, negative-cashflow companies trading at div/0 PE levels based on a slick story about future billions in profits, a strategy that failed spectacularly in 2001, would suffer larger declines when the **** hits the fan than other indexes?

Get the **** outta here.  No way.

     Buzzsaw99

     ...and completely dependent upon chinese slave labor which is now becoming wildly unpopular on all fronts in the
     usa.


Bokenrijder
Quote
Who could have seen that coming?

I can see the PPT & a Powell-Put standing by to save the day/year.

     Cash is King
     With Pres. Trump 🦀 breaking Powell’s balls publicly I can imagine he might be a bit slow to take the call.

     The day PT  took credit for this market (after calling it a huge bubble while running) I knew that was going to be the end of his run.

           Swmnguy
            Yep.

            Candidate Trump, the early version, I found interesting other than the pandering to racists.  He actually said
            something that needed to be said and are verboten in official US politics.

            Late-campaign Candidate Trump, and all of President Trump, has been utterly worthless.  It's been the
            intellectual bankruptcy of the very dumbest or most-cynical Republicans, tied to the moral bankruptcy and
            utter lack of mental discipline of Donald Trump.

            Even by modern US standards, that's a fetid concoction.

Agelbert NOTE: If you do not know what the abbreviation, "PPT", stands for, you do not understand how the stock markets in the USA have been RIGGED since 1987. Here's a brief summary:

Quote
Plunge Protection Team - PPT

REVIEWED BY INVESTOPEDIA STAFF   Updated Mar 11, 2018

DEFINITION of Plunge Protection Team - PPT

The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. The PPT was originally created to provide financial and economic recommendations in the wake of turbulent market times. Members of the team are the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve, the Chairman of the Securities and Exchange Commission and the Chairman of the Commodity Futures Trading Commission.


BREAKING DOWN Plunge Protection Team - PPT

The name PPT was coined by The Washington Post in 1997. Although the team had a viable purpose when initially created, conspiracy theorists suspected that the team was created to shore up, or even manipulate, the markets. Some suspected that the team could executing trades on several exchanges and manipulate the markets when they were heading downward. The team was believed to collaborate only with big banks such as Goldman Sachs and Morgan Stanley, to report only to the President, and to keep no records of trades.


The Creation of the Plunge Protection Team

In 1989, the then President, Ronald Reagan, created the President’s Working Group on Financial Markets after two stressful events, the stock market crash in 1987 and the near-crash in 1989. The group acted as an advisory group on the markets for the president and regulators. However, others suspected the group to be capable of more nefarious activity and possibly capable of rigging the stock market in turbulent times. This theory was further strengthened when Robert Heller, a former governor of the Federal Reserve, gave a speech confirming suspicions surrounding the working group.

The Plunge Protection Team at Work?

On Monday February 5, 2018, the Dow Jones experienced a drop that was twice as large as its biggest point decline in history. However, arbitrary and aggressive buying cut the decline in half in one day. On the Tuesday and Wednesday of that week, stocks opened lower, and each time aggressive buying buoyed the markets. Heller suggested that the Federal Reserve purchased stock index futures contracts to stop a market collapse. He also believes that because the Fed already rigs the bond market through securities purchases, the stock market is easy to control.


Similar activity was noted during the financial crisis of 2007 and 2008 when telephone calls between then-Treasury Secretary Hank Paulson and Wall Street actors were recorded on days when the stock market was tanking and a downward spiral required reversal.

Since the financial crisis of 2007 and 2008, many countries overtly rig their stock markets including Japan and China. This type of activity can be effective in the short term,
but if equities markets are artificially inflated, the bubble will eventually burst.

https://www.investopedia.com/terms/p/plunge-protection-team.asp


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