HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » I'm Not Sure How To Ask T... » Reply #96

Response to WillyT (Original post)

Wed Dec 14, 2011, 03:49 PM

96. Yes, I am

The current course which our leaders (the 1%) have plotted for the future is unsustainable. The nation will break down under the strain of inequality and tyranny brought about by deregulated capitalism, made even worse by the fact the economy is now based in finance capital rather than in manufacturing capital.

Equality of outcomes was never America's strong suit or even desirable. However, as long as the middle class was doing nicely, there was little about which to complain. That's changed.

There are several reasons for why this has changed with the effect being prosperity transforming into crisis.

First of all, finance capital is unproductive. Today's apologists for the status quo may call themselves "economic fundamentalists," but denoting themselves as such rings hollow as long as they support the primacy of finance capital. Adam Smith, who is the standard of real economic fundamentalism, would tell these morons that money is not wealth. It is nothing more than a convenient medium of exchange. It's funny how the economic gurus touted Adam Smith in the eighties and have forgotten all about him thirty years later. Money is worthless if there is nothing to buy with it.

Wealth is goods and services. Goods are manufactured, mined or grown, not printed on government presses. A society (for the benefit of followers of Ayn Rand, society is a real thing) gets richer when it produces more goods and services, not when it simply produces more money. If the government or the central bank prints more money without a corresponding rise in productivity, nobody gets richer; but, prices will rise accordingly. This means that all of this extra money that the Fed is creating out of thin air and giving interest-free to the banks in order to cover their debts is doing more harm than good. We accuse the bank of sitting on it; the best thing for them to do would be to burn it. When it gets into circulation, it will cause inflation the likes of which hasn't been seen since the days of the Weimar Republic.

Sooner or later later, this structure will collapse. The floor will fall out from underneath the upper classes and -- it always works out this way -- the ceiling will fall on top of the rest of us who reside on the lower stories of the structure. After that, the only way to keep the upper classes on top is a police state. This is simply history repeating itself. The prosperity of the 1920s, which was built on funny money gimmicks, gave way to the Great Depression of the thirties, characterized by police states in Germany, Italy, the Soviet Union and Japan, and finally by World War II and the Cold War.

Does anybody want to live through the twentieth century again? I don't.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 175 replies Author Time Post
WillyT Dec 2011 OP
Whisp Dec 2011 #1
WillyT Dec 2011 #4
limpyhobbler Dec 2011 #6
Auntie Bush Dec 2011 #128
sasha031 Dec 2011 #145
dixiegrrrrl Dec 2011 #8
joshcryer Dec 2011 #18
dixiegrrrrl Dec 2011 #39
glinda Dec 2011 #54
librechik Dec 2011 #88
Angry Dragon Dec 2011 #13
leftyohiolib Dec 2011 #47
Angry Dragon Dec 2011 #104
leftyohiolib Dec 2011 #146
Angry Dragon Dec 2011 #152
chervilant Dec 2011 #126
Cal33 Dec 2011 #169
Angry Dragon Dec 2011 #170
UnrepentantLiberal Dec 2011 #25
eilen Dec 2011 #37
dixiegrrrrl Dec 2011 #40
Maraya1969 Dec 2011 #56
Jackpine Radical Dec 2011 #75
loudsue Dec 2011 #76
Turbineguy Dec 2011 #107
BlueToTheBone Dec 2011 #44
BlancheSplanchnik Dec 2011 #61
Octafish Dec 2011 #62
Auntie Bush Dec 2011 #130
Octafish Dec 2011 #141
ZombieHorde Dec 2011 #73
kenfrequed Dec 2011 #95
ZombieHorde Dec 2011 #113
Auntie Bush Dec 2011 #132
kenfrequed Dec 2011 #156
Cal33 Dec 2011 #171
Fair Witness Dec 2011 #103
GoddessOfGuinness Dec 2011 #108
Cal33 Dec 2011 #173
DirkGently Dec 2011 #2
lpbk2713 Dec 2011 #3
Capitalocracy Dec 2011 #24
spanone Dec 2011 #5
Mojorabbit Dec 2011 #7
txlibdem Dec 2011 #9
Fire Walk With Me Dec 2011 #10
truedelphi Dec 2011 #119
hatrack Dec 2011 #139
truedelphi Dec 2011 #167
nadinbrzezinski Dec 2011 #11
WillyT Dec 2011 #16
nadinbrzezinski Dec 2011 #20
NRaleighLiberal Dec 2011 #12
pscot Dec 2011 #79
Maccagirl Dec 2011 #138
Dover Dec 2011 #14
quinnox Dec 2011 #15
yurbud Dec 2011 #99
Johnny Noshoes Dec 2011 #116
joshcryer Dec 2011 #17
Aaria Dec 2011 #53
aquart Dec 2011 #91
truedelphi Dec 2011 #115
Auntie Bush Dec 2011 #136
joshcryer Dec 2011 #135
mojowork_n Dec 2011 #19
Aaria Dec 2011 #50
mojowork_n Dec 2011 #114
truedelphi Dec 2011 #117
mojowork_n Dec 2011 #121
Remember Me Dec 2011 #64
aquart Dec 2011 #93
brooklynite Dec 2011 #21
a simple pattern Dec 2011 #29
BeHereNow Dec 2011 #49
Aaria Dec 2011 #51
freefall Dec 2011 #58
smirkymonkey Dec 2011 #84
EC Dec 2011 #22
MannyGoldstein Dec 2011 #23
Jakes Progress Dec 2011 #147
Stargleamer Dec 2011 #26
WillyT Dec 2011 #30
treestar Dec 2011 #27
BeHereNow Dec 2011 #52
Remember Me Dec 2011 #65
pscot Dec 2011 #82
AlbertCat Dec 2011 #86
burrowowl Dec 2011 #28
Lugnut Dec 2011 #31
Kablooie Dec 2011 #32
Pachamama Dec 2011 #34
Kablooie Dec 2011 #69
dixiegrrrrl Dec 2011 #41
hootinholler Dec 2011 #33
harmonicon Dec 2011 #35
Marrah_G Dec 2011 #36
deacon_sephiroth Dec 2011 #38
AlbertCat Dec 2011 #87
BlueIris Dec 2011 #42
BlueToTheBone Dec 2011 #43
judesedit Dec 2011 #45
Quantess Dec 2011 #46
SpankMe Dec 2011 #48
freefall Dec 2011 #60
LongTomH Dec 2011 #55
MoonRiver Dec 2011 #57
Little Star Dec 2011 #66
MadrasT Dec 2011 #68
chervilant Dec 2011 #127
frazzled Dec 2011 #59
MadrasT Dec 2011 #70
mmonk Dec 2011 #63
mistertrickster Dec 2011 #67
RobinA Dec 2011 #71
Hotler Dec 2011 #72
AZ Progressive Dec 2011 #174
DCBob Dec 2011 #74
L0oniX Dec 2011 #77
Kaleko Dec 2011 #118
BeHereNow Dec 2011 #78
Roy Rolling Dec 2011 #80
glarius Dec 2011 #81
AlbertCat Dec 2011 #83
RueVoltaire Dec 2011 #85
BeHereNow Dec 2011 #92
RueVoltaire Dec 2011 #112
Doctor_J Dec 2011 #89
nobodyspecial Dec 2011 #124
Doctor_J Dec 2011 #149
BeHereNow Dec 2011 #90
Texas Lawyer Dec 2011 #94
truedelphi Dec 2011 #166
LineReply Yes, I am
Jack Rabbit Dec 2011 #96
yurbud Dec 2011 #97
ProSense Dec 2011 #98
Beavker Dec 2011 #102
Warren Stupidity Dec 2011 #134
JitterbugPerfume Dec 2011 #100
Beavker Dec 2011 #101
Swede Dec 2011 #105
Jakes Progress Dec 2011 #106
UrbScotty Dec 2011 #109
UrbScotty Dec 2011 #110
Jakes Progress Dec 2011 #143
Doctor_J Dec 2011 #148
whathappened Dec 2011 #111
nineteen50 Dec 2011 #120
valerief Dec 2011 #122
FarCenter Dec 2011 #123
TNLib Dec 2011 #125
SteveW Dec 2011 #168
proud patriot Dec 2011 #129
NNN0LHI Dec 2011 #131
Warren Stupidity Dec 2011 #133
Mimosa Dec 2011 #137
jimlup Dec 2011 #140
Vanje Dec 2011 #142
RKP5637 Dec 2011 #144
Bonobo Dec 2011 #150
RKP5637 Dec 2011 #153
RKP5637 Dec 2011 #154
Bonobo Dec 2011 #158
truedelphi Dec 2011 #161
RKP5637 Dec 2011 #165
ananda Dec 2011 #151
RKP5637 Dec 2011 #155
Jamastiene Dec 2011 #157
Edweird Dec 2011 #159
Post removed Dec 2011 #160
WillyT Dec 2011 #162
Dewey Finn Dec 2011 #163
WillyT Dec 2011 #164
libtodeath Dec 2011 #172
Liberal_in_LA Dec 2011 #175
Please login to view edit histories.