So you think it is Hot What to do - Page 9

 

In article


Of the two economic systems Capitalism and Socialism, Socialism will be
the survivor. What if in the future, ten percent of the worlds
population can provide for 100 percent of all goods and services through
free trade and automation, What kind of economic system will one have
where 90 percent of the population has no job? The good times are over
with.

The world is becoming more productive each and every year. Capitalism is
a dying economic system. I am not saying the future will be a good
future. Rationing on all levels will occur. Distribution of wealth is
the only answer. Like it or not.

--
Enjoy Life... Dan

Garden in Zone 5 South East Michigan.

 



Snip: (David being cute)

A tad OFF TOPIC, but from where I stand, there are no capitalist, but
there may be Socialism in Bolivia.

What we've had is kleptocratic authority pretending to be capitalists in
one place, and socialists (communists) in another. Americans, Russians,
Chinese, everybody has consulted with Milton Friedman on how to put the
best face on greed, and maintaining the elite class. All the power
brokers want neo-liberalism, because you don't have to think for it to
operate. The markets correct themselves. Even Schwarzenegger can
understand the beauty of no need to regulate, the markets correct
themselves. Which we found out, isn't true.

In the "Commodities Futures Modernization Act", which in the 11th hour
was inserted into an omnibus spending bill by then Senator Phil Gramm in
2000, the trading of mortagage credit default swaps was suddenly legal
again. They were not legal since 1934 since the passing of the
Glass-Steagal Act.

After Gramm's little sleight of hand, the investment banks could
suddenly sell "insurance" against a mortgage default. That's not a
problem, but they were allowed to do so WITHOUT COLLATERAL. They didn't
have to show that they had assets in reserve to back up the mortage
defaults in the event that they did fail.

It was almost like a license to print money. The higher ups in those
companies made huge bonuses by selling the credit default swaps in a
positive housing market because none of the loans were defaulting. It
was pure profit. The problem came when the housing market declined, the
policies came due and there were no assets to back up the policies. The
banks were so big that the financial system would grind to a halt if
they failed, so the government was forced to step in and bail them out.
In the meantime, the people who sold those deriviatives got to keep
their bonuses.

The system is incentivized in such a way that it's bound to happen again
if it's not regulated.

When the markets aren't regulated, it's the invisible hand of the elite
that drives shares up, or down.

Dust off that old Michael Douglas DVD "Wallstreet", and see again, how
the game is played.

http://www.nytimes.com/2010/04/28/opinion/28wed1.html

And now there is no money to bail out the victims, i.e. the taxpayers.
Productivity has gone up since 1987, income hasn't for the worker.
Bush gave the rich tax breaks.
There are more billionaires than ever before.
And now they cut support to the disabled, old, and the sick.
Libraries are cutting back.
The Post Office wants to cut back.
The parks of Detroit are closed.
There are potholes in the street.

And it costs Toronto $2 billion to have the rich come and plan for a
week? Two billion dollars of taxpayer dollars? Who calls the shots?

We all know where the money went. But our congesspeople won't let us tax
the one class that has benefitted from the last quarter century
neo-liberal greed.

I just hope we can make as much noise as the Greeks are doing.


- Billy
"Fascism should more properly be called corporatism because it is the
merger of state and corporate power." - Benito Mussolini.
http://www.democracynow.org/2010/7/2/maude
http://www.democracynow.org/2010/6/28/naomi_klein_the_real_crime_scene

 

In article


 Is that a pink tie you are wearing ?  I had one 50 years ago and I'd
love to find it again.  Pinko!

Dan L  and " I feel fine" sort of misses the irony issue. 22 years ago
some folks thought slash and burn ( Carbon freeing) was not good and
gave us a heads up. Warnings can only go so far as most seem to need to
feel the heat before they withdraw the hand.  Trouble is like the frog
in cold water he will not jump out with the boil.  
 Most now look at long term as next week, some Dec 25 but longer that is
not their problem. Gross assumption.
 Gardeners however have too look at the longer picture and sometimes
they may look much further.  Why? I don't know but love of life may be
in the top 5 modus  operants.

--
Bill  S. Jersey USA zone 5 shade garden
     What use one more wake up call?  
 

 

Dan L. wrote:

I am not sure what the replacement system will be but laissez faire
capitalism isn't going to be the winner.  The simple reason is that nobody
knows how to make it run without constant growth.  The resources of the
world are limited and so growth WILL come to an end.  The question is, will
we be vaguely in control and managing the situation or will it be a crash
landing?

David

 



The near future economic system could be: ANARCHISM :)

--
Enjoy Life... Dan

Garden in Zone 5 South East Michigan.