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Author Topic: Money  (Read 4154 times)

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AGelbert

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Re: Money
« Reply #330 on: March 11, 2018, 03:51:41 pm »


Even as Congress drops the ball on crucial issues like gun control and DACA, lawmakers 🐉🦕😈🦖🦀 plan to move forward this week with something virtually no one is demanding: bank deregulation. Republicans are …

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AGelbert

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Re: Money
« Reply #331 on: March 11, 2018, 03:59:36 pm »

Somewhat unintuitively, American corporations   today enjoy many of the same rights as American citizens. Both, for instance, are entitled to the freedom of speech and the freedom of religion. How exac…
« Last Edit: March 11, 2018, 05:25:37 pm by AGelbert »
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AGelbert

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Re: Money
« Reply #332 on: March 12, 2018, 05:58:16 pm »
You can understand why William is not a favorite of the MSM and is considered on the fringe. If these kinds of thoughts and opinions are not ones you can even ponder, then reading further would be a waste of your valuable time.                                                         

Gold Oil Dollars Russia and China
By F. William Engdahl


http://www.williamengdahl.com/englishNEO13Sep2017.php  :icon_study: :icon_study: :icon_study:


I do believe that I have posted up articles by FWE before, and if RE says he has, I believe him. I know his name is known in this pissoir.

As you might imagine, I am real light on the Larouche nonsense and disagree as regards AGW. On the other hand, if his premise in the quote you posted is that the elites will use any crisis, including environmental, to enrich themselves and immiserate others, then I agree. Naomi Klein calls this, "disaster capitalism," as most recently seen in Puerto Rico.

IN terms of the subject of this article, the premise FWE lays out is a familiar one, and in this regard he sounds much like Pepe Escobar and his "New Silk Road" articles. RE disagrees, and thinks the Chinese are "toast," as seen in his recurrent meme. I think that China v. the West is the old story of the hare and the turtle. We measure results by the month and quarter; the Chinese are playing a long game, and making a series of smart moves from trade deals to construction to the above-mentioned oil bourse.

Meaning TPTB in the FSA will get their hats handed to them. That's the good news; the bad news is that you and I will be the ones to pay the bills via a reduced standard of living. If you consider that inevitable, then the logic of gold becomes a lot more apparent.

Unless you believe that the USG could declare gold ownership illegal, and come and take it. Naw, that couldn't happen here.

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AGelbert

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Re: Money
« Reply #333 on: March 15, 2018, 12:40:28 pm »


March 15, 2018

Trump's 🦀 Tariff Travesty Will Not Re-Industrialize the US

Trump's steel and aluminum tariffs will only make it more difficult for US producers that depend on these resources, while also initiating trade retaliation from trade partners says Michael Hudson


Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. He is the author of many books, including The Bubble and Beyond, and Finance Capitalism and its Discontents, Killing the Host- How Financial Parasites and Debt Destroy the Global Economy, and most recently J is for Junk Economics: A Survivor's Guide to Economic Vocabulary in an Age of Deception.

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=21353

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AGelbert

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Re: Money
« Reply #334 on: March 16, 2018, 05:27:07 pm »


Economic Update: Capitalism   Breeds Inequality

Friday, March 16, 2018

By Richard D. Wolff, Truthout | 📢 Audio Segment

This week's episode discusses how globalization has worsened inequality and injustice, how Quebec's doctors are rejecting pay increases, the significance of the YMCA workers' strike in Chicago, and the growing Japanese co-op movement. This episode also includes an interview with single-payer activist Tim Faust on medical care and insurance in the US today.

http://www.truth-out.org/news/item/43859-economic-update-capitalism-breeds-inequality
« Last Edit: March 16, 2018, 07:12:36 pm by AGelbert »
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AGelbert

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Re: Money
« Reply #335 on: March 16, 2018, 09:36:23 pm »


March 15, 2018

Senate 😈 Expands 'Lobbyist Bill' 👹 to Deregulate Real Estate

New measures added to the financial deregulation bill include the deregulation of commercial real estate, which threatens to re-create the conditions that led to the 2008 financial crisis, says Bill Black


http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=21354
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AGelbert

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Re: Money
« Reply #336 on: March 16, 2018, 09:47:49 pm »


  March 15, 2018

Economic Benefits of Tax Cuts Should Have Arrived - Where Are They? 

Businesses have had plenty of time to take Trump's corporate tax cuts into account for their investment plans. However, as CEPR's Dean Baker reports, this has not happened. Instead, they 😈 spent their tax windfall on stock buybacks


http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=21368

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AGelbert

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Re: Money
« Reply #337 on: March 21, 2018, 06:51:57 pm »

Dean Baker - How Globalization Was Rigged For The Rich


Washington Watch


Published on Jan 17, 2018

Economist Dean Baker talked about his book Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer, in which he argues that government policies, not globalization or the natural workings of the free market, have led to the upward redistribution of wealth seen around the world over the past four decades.
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AGelbert

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Re: Money
« Reply #338 on: March 22, 2018, 04:34:07 pm »


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AGelbert

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Re: Money
« Reply #339 on: March 22, 2018, 06:10:31 pm »


My sentiment has changed. I think Trump's little trade war might be the droids you've been looking for....

I admire a man who is willing to change his position based on objective observation. Good for you! 


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AGelbert

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Re: Money
« Reply #340 on: March 24, 2018, 09:20:36 pm »
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AGelbert

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Re: Money
« Reply #341 on: March 30, 2018, 02:56:31 pm »


March 28, 2018

Economic Update - Capitalism Breeds Inequality


Since 1980, the income of the top .001 percent went up by six hundred percent, but the bottom fifty percent saw no income increase at all, says economist Richard D. Wolff

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=21458%27%20style=%27color:#000;
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AGelbert

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Re: Money
« Reply #342 on: April 02, 2018, 05:46:01 pm »
APR 01, 2018TD ORIGINALS

The Oligarchs’ 😈 ‘Guaranteed Basic Income’ Scam

By Chris Hedges

A number of the reigning oligarchs—among them Mark Zuckerberg (net worth $64.1 billion), Elon Musk (net worth $20.8 billion), Richard Branson (net worth $5.1 billion) and Stewart Butterfield (net worth $1.6 billion)—are calling for a guaranteed basic income. It looks progressive. They couch their proposals in the moral language of caring for the destitute and the less fortunate. But behind this is the stark awareness, especially in Silicon Valley, that the world these oligarchs have helped create is so lopsided that future consumers, plagued by job insecurity, substandard wages, automation and crippling debt peonage, will be unable to pay for the products and services offered by the big corporations.

The oligarchs do not propose structural change. They do not want businesses and the marketplace regulated. They do not support labor unions. They will not pay a living wage to their bonded labor in the developing world or the American workers in their warehouses and shipping centers or driving their delivery vehicles. They have no intention of establishing free college education, universal government health or adequate pensions. They seek, rather, a mechanism to continue to exploit desperate workers earning subsistence wages and whom they can hire and fire at will. The hellish factories and sweatshops in China and the developing world where workers earn less than a dollar an hour will continue to churn out the oligarchs’ products and swell their obscene wealth. America will continue to be transformed into a deindustrialized wasteland. The architects of our neofeudalism call on the government to pay a guaranteed basic income so they can continue to feed upon us like swarms of longnose lancetfish, which devour others in their own species.

“Increasing the minimum wage or creating a basic income will amount to naught if hedge funds buy up foreclosed houses and pharmaceutical patents and raise prices (in some cases astronomically) to line their own pockets out of the increased effective demand exercised by the population,” David Harvey writes in “Marx, Capital, and the Madness of Economic Reason.” “Increasing college tuitions, usurious interest rates on credit cards, all sorts of hidden charges on telephone bills and medical insurance could steal away the benefits. A population might be better served by strict regulatory intervention to control these living expenses, to limit the vast amount of wealth appropriation occurring at the point of realisation. It is not surprising to find there is strong sentiment among the venture capitalists of Silicon Valley to also support basic minimum income proposals. They know their technologies are putting people out of work by the millions and that those millions will not form a market for their products if they have no income.”

The call for a guaranteed basic income is a classic example of Karl Marx and Antonio Gramsci’s understanding that when capitalists have surplus capital and labor they use mass culture and ideology, in this case neoliberalism, to reconfigure the habits of a society to absorb the surpluses.


In the wake of World War II, for example, the capitalists’ problem was solved by heavy investments in the military and war industry, ideologically justified by Red baiting and the Cold War, and by massive infrastructure projects, including the building of highways, bridges and houses, to move people out of cities into suburbs, where consumption rose. The social engineering projects were done in the name of national security and progress. And they made the oligarchs of that day richer.

“The development of a whole new suburban lifestyle (acclaimed in popular TV sitcoms like The Brady Bunch and I love Lucy which celebrated a certain kind of ‘daily life of peoples’) along with all sorts of propaganda for the ‘American Dream’ of individualized homeownership stood at the centre of a huge campaign to construct new wants, needs and desires, a totally new lifestyle, in the population at large,” Harvey says in his book. “Well-paid jobs were required to support the effective demand. Labour and capital came to an uneasy compromise at the urging of the state apparatus in which a white working class made economic gains, even as minorities were left out.”

This phase of capitalism ended once industry moved overseas and wages stagnated or declined. The well-paying unionized jobs disappeared. Jobs became menial and inadequately compensated. Poverty expanded. The oligarchs began to mine government social services, including education, health care, the military, intelligence gathering, prisons and utilities such as electricity and water, for profit. As a publication of the San Francisco Federal Reserve reportedly noted, the country—and by extension the oligarchs—could no longer get out of crises “by building houses and filling them with things.” The United States shifted in the 1970s from what the historian Charles Maier called an “empire of production” to “an empire of consumption.” In short, we began to borrow to maintain a lifestyle and an empire we could no longer afford.

Profit in the “empire of consumption” is extracted not by producing products but by privatizing and pushing up the costs of the basic services we need to survive and allowing banks and hedge funds to impose punishing debt peonage on the public and **** on tech, student debt and housing bubbles. The old ideology of the New Deal, of government orchestrating huge social engineering projects under the Public Works Administration or in the War on Poverty, was replaced by a new ideology to justify another form of predatory capitalism.

In Harvey’s book “A Brief History of Neoliberalism” he defines neoliberalism as “a project to achieve the restoration of class power” in the wake of the economic crisis of the 1970s and what the political scientist Samuel Huntington said was America’s “excess of democracy” in the 1960s and the 1970s. It achieved its aim.

Neoliberalism, Harvey wrote, is “a theory of political economic practices that proposes that human well-being can best be advanced by liberating individual entrepreneurial freedoms and skills within an institutional framework characterized by strong private property rights, free markets, and free trade.”

American oligarchs discredited the populist movements of the 1960s and 1970s that had played a vital role in forcing government to carry out programs for the common good and restricting corporate pillage. They demonized government, which as John Ralston Saul writes, “is the only organized mechanism that makes possible that level of shared disinterest known as the public good.” Suddenly—as Margaret Thatcher and Ronald Reagan, two of the principal political proponents of neoliberalism, insisted—government was the problem. The neoliberal propaganda campaign successfully indoctrinated large segments of the population to call for their own enslavement.

The ideology of neoliberalism never made sense. It was a con. No society can effectively govern itself by basing its decisions and policies on the dictates of the marketplace. The marketplace became God. Everything and everyone was sacrificed on its altar in the name of progress. Social inequality soared. Amid the destruction, the proponents of neoliberalism preached the arrival of a new Eden once we got through the pain and disruption. The ideology of neoliberalism was utopian, if we use the word “utopia” as Thomas More intended—the Greek words for “no” and “place.” “To live within ideology, with utopian expectations, is to live in no place, to live in limbo,” Saul writes in “The Unconscious Civilization.” “To live nowhere. To live in a void where the illusion of reality is usually created by highly sophisticated rational constructs.”

Corporations used their wealth and power to make this ideology the reigning doctrine. They established well-funded centers of propaganda such as The Heritage Foundation, took over university economic departments and amplified the voices of their courtiers in the media. Those who questioned the doctrine were cast out like medieval heretics, their careers blocked and their voices muted or silenced. The contradictions, lies and destruction within neoliberal ideology were ignored by those who dominated the national discourse, leading to mounting frustration and rage among a populace that had been abandoned and betrayed.

The propagandists for neoliberalism blamed the other—Muslims, undocumented workers, African-Americans, gays, feminists, liberals, intellectuals and, of course, government—for the downward spiral. Politicians who served the interests of the corporate oligarchs told dispossessed white workers their suffering was caused by the ascendancy of these marginalized groups and a cultural assault on their national identity and values, not corporate pillage. It was only a matter of time before this lie spawned the xenophobic, racist hate speech that dominates American political life and led to the rise of imbecilic and dangerous demagogues such as Donald Trump.

“Each of Globalization’s strengths has somehow turned out to have an opposing meaning,” Saul writes in “The Collapse of Globalization and the Reinvention of the World.” “The lowering of national residency requirements for corporations has morphed into a tool for massive tax evasion. The idea of a global economic system mysteriously made local poverty seem unreal, even normal. The decline of the middle class—the very basis of democracy—seemed to be just one of those things that happen, unfortunate but inevitable. That the working class and lower middle class, even parts of the middle class, could only survive with more than one job per person seemed to be the expected punishment for not keeping up. The contrast between unprecedented bonuses for mere managers at the top and the four-job family below them seemed inevitable in a globalized world. For two decades an elite consensus insisted that unsustainable third-world debts could not be put aside in a sort of bad debt reserve without betraying Globalism’s essential principles and moral obligations, which included unwavering respect for the sanctity of international contracts. It took the same people about two weeks to abandon sanctity and propose bad debt banks for their own far larger debts in 2009.”

The oligarchs mask their cruelty and greed with an empty moralism. They claim to champion women’s rights, diversity and inclusivity, as long as women and people of color serve the corporate neoliberal project. An example of this moralism occurred last Tuesday when NPR’s Ari Shapiro interviewed Lyft co-founder and President John Zimmer and former Obama administration official Valerie Jarrett, a member of the company’s board, about diversity and gender equality in the workplace. Shapiro asked about Lyft offering free rides to those marching against gun violence and donating to the ACLU.

“We serve our drivers, we serve our passengers, and we serve the employees that work for us,” Zimmer said in the interview. “And when it comes to [resisting gun] violence, when it comes to equality, those are things that we’re going to stand up for.”

America’s “gig economy,” as I wrote last week in my column, is a new form of serfdom. Corporations such as Lyft use lobbyists and campaign donations to free themselves from regulatory control. They force poorly paid temporary workers, who lack benefits, to work 16 hours a day in a race to the bottom. This neoliberal economic model destroys regulated taxi and livery services, forcing drivers who were once able to make a decent income into poverty, bankruptcy, foreclosures, evictions and occasionally suicide. By fighting gender, sexual and racial inequality in the workplace rather than economic inequality, by denouncing mass shootings rather than out-of-control police violence and mass incarceration, these corporations hide their complicity in societal disintegration. Their empty moralism and faux compassion is an updated version of the publicity stunt that John D. Rockefeller, whose personal fortune was $900 million in 1913, or $189.6 billion in today’s terms, used when he handed out shiny new dimes to strangers.

Neoliberalism heralds a return to the worst days of unregulated capitalism, after the Industrial Revolution when workers were denied a living wage and decent, safe working conditions. Oligarchs have not changed. They are out for themselves. They do not see government as an institution to defend and promote the rights and needs of citizens. They see it as an impediment to unrestricted exploitation and profit. Human beings, to oligarchs, are commodities. They are used to increase wealth and then discarded. Oligarchs don’t propose programs such as a guaranteed basic income unless they intend to profit from it. This is how they are wired. Don’t be fooled by the grins and oily promises of these human versions of the Cheshire Cat. The object is to spread confusion while they increase levels of exploitation.

“Alice asked the Cheshire Cat, who was sitting in a tree, ‘What road do I take?’ ” Lewis Carroll wrote. “The cat asked, ‘Where do you want to go?’ ‘I don’t know,’ Alice answered. ‘Then,’ said the cat, ‘it really doesn’t matter, does it?’ ”

The longer the elites keep us in darkness with their ideological tricks and empty moralism, the longer we refuse to mobilize to break their grip on power, the worse it will get.

https://www.truthdig.com/articles/the-oligarchs-guaranteed-basic-income-scam/

Agelbert NOTE: I would add a graphic warning to the following accurate statements about oligarchs by Chris Hedges :

Quote
"Human beings, to oligarchs, are commodities. They are used to increase wealth and then discarded."


OLIGARCHS 😈 👹 💵 🎩, THIS MEANS YOU!
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AGelbert

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Re: Money
« Reply #343 on: April 02, 2018, 07:35:20 pm »
On Contact: The Coming Collapse of the American Economic System with Richard Wolff

71,867 views


RT America

Published on Apr 1, 2018

Economist Richard Wolff discusses the coming economic collapse of the United States of America.
« Last Edit: April 03, 2018, 01:35:02 pm by AGelbert »
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AGelbert

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Re: Money
« Reply #344 on: April 03, 2018, 02:00:39 pm »
Crisis Struck 10 Years Ago: What's Changed?

by Mike Mish Shedlock
April 1, 2018 -edited

The financial crisis and the massive federal response reshaped the world we live in. Or did it?

The Wall Street Journal has an interesting infographic series of 25 charts entitled 10 Years After the Crisis.

Here's eight of the 25.

Median Income Barely Up


Forget averages. The median is what counts most.

Real median wages fell in 7 out of the last 11 years! For details, please see Imaginary Wage-Inflation Conundrum.

My discussion pertains to "wages". The WSJ referred to "household income".

Public Debt Triples


The MMT crowd says "We owe it to ourselves".

Credit Rating Agencies


The guys 🙉 🙊 that rated everything AAA in 2007 are still 🐒 in charge of things.

Fannie Mae


They promised to unwind Fannie Mae. What happened?

More Ways To Invest


More ways to invest in fewer companies. Who can possibly find fault with that? The casino is open!

Revolving Doors Still Functioning


The revolving door concept still works.

Gotcha! 😇😉


Batting one out of a thousand is arguably better than expected.

Wealth Distribution Trends


Who couldda possibly thunk that might happen when you bail out the banks 😈, lower interest rates to zero 😈, foreclose on millions of homes 😈, send no one to jail 😈, and promote inflation 😈?

No one could possibly have predicted this result. 😇  ::)


Mike "Mish" Shedlock​ 


https://www.themaven.net/mishtalk/economics/crisis-struck-10-years-ago-what-s-changed-GnSnjE1BaESFwTFLZlgwkQ/
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