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Paul Farrell On The 10 "Doomsday Trends" Set To Destroy America
Feeling like the daily dose of objective "truth" from Tim Geithner's latest media circuit has got you down? Fear not: here is MarketWatch's Paul Farrell summarizing the 10 ways in which the very system is destroying America, to lift your spirits up. To wit: "Doomsday Capitalism? Capitalism is killing America? Yes, that’s the message in my tenth book. “Doomsday Capitalism, 10 Self-Destructive Trends.” But you’ll never see it in print. No one, even book publishers want to read this truth: Capitalism is destroying America. Why? Super-Rich Capitalists get rich off these macro trends. They want happy talk. Back in 2007 Vanguard founder Jack Bogle called my warnings “prescient.” But that didn’t stop the meltdown. Next time financial historians warn of a bigger meltdown; a total collapse has been the destiny of every nation for eight centuries. This time, capitalism is the saboteur." Cheerful stuff.
10 Doomsday trends America can’t survive
Capitalism has become a religion for the Super Rich, with many such
“saviors.” Heresies must be denied, such as this one: Doomsday
Capitalism is destroying America from within. Here are highlights, with
links to a few of the earlier hundred columns on topic. Ten macro trends
building to a perfect storm, a critical mass, a flash point:
1. Doomsday Capitalism: Death of the American dream, spirit, soul
After our bankrupt Wall Street was resurrected in 2008 — thanks to their
Trojan Horse, an ex-Goldman CEO inside the Treasury conning trillions
from a clueless Congress — it became obvious that
capitalism is killing America’s soul.
Nobody trusts government. And no matter who’s elected, wealth, Wall
Street and the Super Rich rule America; total collapse is coming.
Why? Sen. Bernie Sanders, the independent from Vermont, said it best:
“There is a war going on in this country … the war waged by the
wealthiest people in America on the disappearing and shrinking middle
class of our country. The nation’s billionaires are on the warpath. They
want more, more, more. Their greed has no end and they are apparently
unconcerned for the future of this country if it gets in the way of
their accumulation of power and wealth.”
2. Doomsday Democracy: ‘Mutant Capitalism’ killing ‘We the People’
Stop kidding yourself, democracy is dead: “All men are created equal” is
a quaint political fiction. The public has no real say in a nation
where wealth buys votes, a naive public is easily manipulated and
elected officials have a price.
In “The Battle for Soul of Capitalism,” Bogle warned us the “Invisible
Hand” no longer serves “We the People” nor the public welfare. Today,
Wall Street and the
insatiable Super Rich 1% rule America.
And they are obsessed with restoring the same unregulated free-market
Reaganomics that loves gambling in the same speculative $580 trillion
derivatives casino that triggered the 2008 meltdown.
3. Doomsday Conspiracy: Wall Street takeover, the new ‘Invisible Hand’
The Super Rich have always had some hand in America’s destiny, operating
from the shadows. Today, this conspiracy of Wall Street, Corporate
CEOs, politicians and Forbes 400 billionaires operates openly, with
absolute power and an arrogance that is corrupting the nation’s soul,
their souls, your soul.
This conspiracy has no moral compass
, yet ironically, is legal.
Why? Wealth can easily buy favorable laws, making even the most
unethical, selfish, corrupt behavior legal by fiat. And their
high-priced lobbyists all over Washington, Congress, government
regulatory agencies and the Fed all have the power to grab the rewards
of capitalism for the Super Rich, while transferring the liabilities to
the other, clueless 99% of America’s taxpayers
4. Doomsday Politics: Monopoly of Super-Rich Anarchists rules America
Forget buzzwords like oligopoly, plutocracy, socialism. Today Washington is a
pure anarchy, a game
played by tens of thousands of high-priced lobbyists squeezing the best
deals out of America’s budget, solely for their clients’ interests,
never the general public. Our economy is a monopoly of Super-Rich
Anarchists. They know the only votes that count are in Congress. And
they’re for sale.
Lobbyists are “brokers.” Today there are 261,000 lobbyists brokering
special interests, all fighting for the maximum possible slice of a $1.5
trillion federal budget pie — special regulations, exemptions, loans,
tax loopholes, earmarks, access, agency appointments, defense contracts,
you name it — endless gambits that further consolidate the power and
wealth at the top for Super-Rich Donors
5. Doomsday Economics: Growth is a numbers game for politicians
The principle of grow or die, once a given in economics and politics, is being challenged by new
“growth and die”
research, while a bizarre
numbers racket
is used by economists as propaganda to hide the truth, manipulating investors, consumers, voters, the public.
All economists tend to be biased, work for banks, politicians, corporate
CEOs, think tanks and the Fed, all with political agendas. They’re more
speech writers, supporting partisan slogans like “drill baby drill,”
ignoring long-term consequences. For example, global population will
increase 50% by 2050, yet old-school economists keep pretending natural
resources are infinite.
6. Doomsday Psychology: The broken promises of behavioral science
Back in 2002 behavioral science offered investors hope: Psychologist
Daniel Kahneman won the 2002 Nobel Prize in Economics, exposing Wall
Street’s myth of the “rational investor.” Their promise: We’ll help you
understand your brain, make better decisions. You’ll be “less
irrational,” control your brain, be a successful investor.
Wrong. That will never happen. Why? Because
your brain will always be irrational.
Worse, Wall Street quants are always light-years ahead of our
home-school brain rewiring; they know you’re vulnerable, easy to
manipulate. They also hire the top neuroscientists for their casinos. No
wonder the house always wins.
7. Doomsday Technology: Innovation, derivative casinos, the singularity
Sophisticated new technologies, mathematical algorithms and neuroscience
all guarantee Wall Street insiders huge margins
gambling in their derivative casinos,
leveraging deposits from Main Street’s “dumb money.” Today Wall Street
is even more obsessed, grabbing for high-risk profits in a tough “new
normal” of high volatility, increasing risks, lower returns.
Average investors are no match for Wall Street’s high-frequency traders
who easily win by huge margins on this rigged playing field. Still,
naive Main Street investors keep betting despite warnings that the more
you trade the less you earn.
8. Doomsday Warfare: Pentagon math: population + commodities = wars
The Pentagon predicts that by 2020
“warfare will define human life”
as global population explodes 50% to 10 billion in 2050. Powerful
commercial, political and ideological forces drive globalization.
Emerging nations compete for scarce resources. This is “the mother of
all national security issues,” warns the Pentagon.
“Unrest would then create massive droughts, turning farmland into dust
bowls and forests to ashes. Rather than causing gradual,
centuries-spanning change, they may be pushing the climate to a tipping
point. By 2020 there is little doubt that something drastic is
happening. As the planet’s carrying capacity shrinks an ancient pattern
reemerges: the eruption of desperate, all-out wars over food, water and
energy supplies and warfare defining human life.”
9. Doomsday History: This time really is different — the final meltdown
Bubble/bust cycles have been well documented for eight centuries. But
the lessons of history are never learned. Euphoria blinds us in boom
times. We deny risk. Bubbles blow. Meltdowns happen. We will always
recover.
Wrong. Many now challenge that naive assumption. Financial historian Niall Ferguson comments in his
“Rise and Fall of the American Empire:”
“Collapse may come much more suddenly than many historians imagine.
Fiscal deficits and military overstretch suggests that the United States
may be the next empire on the precipice. Many nations in history, at
the very peak of their power, affluence and glory, see leaders arise,
run amok with imperial visions and sabotage themselves, their people and
their nation.”
10. Doomsday Investing: Survival strategies in the post-capitalism era
Former Morgan Stanley guru and hedge fund manager Barton Biggs, offers
his Super-Rich Investors a doomsday strategy in his “Wealth, War and
Wisdom.” He warns of “the possibility of a breakdown of the civilized
infrastructure.” No hippie radical, he says “think Swiss Family
Robinson, your safe haven must be self-sufficient, capable of growing
food, well-stocked with seed, fertilizer, canned food, wine, medicine,
clothes. And be ready to fire a few rounds over the approaching
brigands’ heads, to persuade them there are easier farms to pillage.”
But will that work for Main Street investors in the next meltdown/depression? Read our
12 tips
and
six worst-case scenario rules
for average investors preparing for the doomsday scenario.
Farrell's conclusion: eat the rich... more or less
Has America passed the point of no return?
Can’t we deflect the trajectory? Yes, but America would need a
fundamental shift in how our leaders think, says Jared Diamond in
“Collapse: How Societies Choose to Fail or Succeed.” We need leaders
with “the courage to practice long-term thinking and make bold,
courageous, anticipatory decisions at a time when problems have become
perceptible [like in 2011] but before they reach crisis proportions.”
Bottom line: Underneath America’s endless political drama lie deep
wounds that are widening the gap between the Super Rich and the other
99% of America, wider today than before the 1929 Crash. And now as then,
we know the Super Rich don’t really care about the needs of the rest of
America — witness their agenda in states like Wisconsin and Michigan,
and the GOP’s new “Path to Prosperity” budget, a rush to restore failed
Reaganomics policies.
»
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I'm one of the few idiots here that would like to think the system might be saved by political action. I am in favor of cleaning house. Regularly.
But you persist in applying a word which only properly describes the clean object when that object has become so dirty as to be almost unrecognizable, and perhaps deserving of a different label.
Clean up the current political mess, and then I'll be happy to revisit the debate.
Well, Kickaha, that's the crux of the problem. You have the Democrat-statists saying the solution is more government, less freedom and higher taxes. The Republican-libertarian side says the solution is wayyyy less government and more freedom which results in lower taxes.
Both sides claim they will clean it up. You will have to take a side when you vote. Or you can sit it out and let others decide and hope the winning side it right. History should be a good guide if you are undecided.
+10
Farcism.
tmosley +1
This article demonstrates how successfully the mind of The Public has been programmed with concept inversions and religious abstractions.
rigged markets = capitalism
lobbyists = anarchists
We The People = actual people
And I'm only to point four. I'll hazard a guess that the solution he'll propose to right his various grievances owing ultimately to state subservience involves yet more or different state "protection".
He might have saved himself all that effort and posted a cute image of Keanu on a bench with the caption: Sad prole is sad.
The Pentagon predicts that by 2020 “warfare will define human life” as global population explodes 50% to 10 billion in 2050.
Gee, ya think they might just be talking their book here?
Population alarmism doesn't exactly have a great track record either.
Besides, it will eventually be some other culture's problem, not ours. Look at worldwide birth rates and do the math...
A reqmt of 2000 calories/day and eroding oil supply does not care what religion you are.
But the historical record indicates that it might "care" what culture you are.
Someone else's problem nonetheless...
You may not be interested in war, but war is interested in you.
Carl von Clausewitz
True enough but my point is that Western Civ. is essentially extinguishing itself just fine right now, mostly independent of war.
Yes. Adaptation would take years, decades. Look up "behavioral change".
And America doesn't have years to start fixing it's mess.
Famous last words when driving of a cliff: LOOK MY CAR CAN FLY! THIS IS SO COOL!!!
isn't our current state of affairs here called fascism ?
Corporatism, perhaps, yes.
Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.
Read more: http://www.brainyquote.com/quotes/authors/b/benito_mussolini.html#ixzz1JylrzM1V Same difference.Benito Mussolini
no. fascisme is a propaganda word from the 50's/60's.
Every entry involves government force. In fact every entry is about controlling government force for the benefit of the controller. Same as it ever was. What this has to do with free market capitalism is never even considered.
Apparently, government is a good god being perverted by "wealth" concentrated in hands by "capitalism" that uses the "good" in evil ways. Why an entity of force, coercion and murder is considered "good" is ignored.
Geez, another "it's the end story". Don't these people know the world ended already after Y2K !!!!!!!!!!! The only thing killing me are these doom and gloom articles.
I totally understand the fatigue. For the sake of you and your loved ones, I recommend you rationalize it and keep your eyes open.
America is a kleptocracy ... the apparatus is a hybrid of socialism and crony-capitalism.
The USSA is toast, comrades.
ROTFL
LOL
LMFAO
DL
That, sir, is some funny stuff. I gotta take a break.
Damn it is due time for the Great Reset, aka Jubilee.
I thought it was supposed to happen every 49 years? And one year off for everyone every 7 years?!
Sure would make the world a happier place. And of course the seven years could all be staggered. During this Holy Week, something to think about.
Do you buy dental gold?
nada
Duly noted, comrade.
The Jubilee economic model makes sense.
I believe my grandfather had a few bags filled with those in the attic...
he died in WOII....
fell asleep in a watch tower and fell down...
horrible...
I fear that US Citizens will endure hardship and salvery under the very premise of the psudo thing called Freedom not realizing that it is infact Fascism. Dumb down of America has been going on for quite sometime. Enjoy the reading, more to come
Obama and Senate Rewriting Article II
http://www.thenewamerican.com/usnews/constitution/7129-obama-and-senate-...
Too many freakin guns in this country. No slavery one... never will be attacked on land. Wars will be nuclear.
The best form of slavery ever invented. The slaves actually think they are free, insures highest productivity and least resistance.
I can't help but have a cynical viewpoint when it comes to these yale people. This capitalistic keynesian system is taught and has been taught for decades and decades, now some are coming out saying its a dead end road? C'mon now, it is quite obvious this system was needed to be in place with a self destruct ending in order for the NWO to replace this current destructive system. FDR and the other cronies put the end goal on the back of the dollar bill, which oddly enough was the main engine that was going to not only drive us into the ground but straight to the "New Order". The other part of the plan is what is called a culling. It's going to happen for they have all the control now, it would not surprise me if they start coming out in droves now telling us of the inevitable because in some sick sociopathic way I'm pretty sure some of them get off on it. Fuck 'em!
Capitalism is the best system men have devised for getting the natural resources developed into usable form. It will not be the best system in a world beset by resource scarcity.
Capitalism, in it's pure form, is like the law of the jungle. The most fit survive.
Not a good quality of life for most when the going gets tough....
I suppose we are all engaged in a philosophical debate: To each according to his skill level, or the bestest for the mostest....
gh
Hmmm. Unfortunately, you're thinking is exactly backwards.
Capitalism is the best system ever devised for allocating scarce resources in the most efficient manner possible.
Socialism, on the other hand, is only workable when resources are plentiful and cheap. That's why the Soviet Union was able to function until the 70s, and why China (with its gigantic pool of exploitable cheap labor) is able to function so well, at least until the labor gets tired of being exploited. It's also why a socialist mess like Canada can actually thrive.
Exactly... There is nothing wrong with capitalism. The problem is with the current batch of Baby Boomers that are perverting it, and being allowed to do it...
What people always forget is that there are basically unlimited resources. Meaning, if the price is right capitalism provides a clear path for going after comets (or even the moon) for whatever resources we want. A little government foresight would be nice, but absent that the system will still move forward.
Capitalism is too easily corruptable. All it takes is the slightest of subversion methods and you get what we got. Non stop runaway train that is destined to end soon. Being of the cynical mentality I firmly believe they devised this whole scheme a very long time ago for a specific purpose which we will see soon.
Capitalism is not corruptable any more than physics is corruptible. Governments are highly corruptable and then they torture, confine or abuse capitalism for their own good. Then, like the fine horse that is beaten, starved and overworked claim that it was flawed when it apparently fails.
This is why there is usually a strong impulse to steal other people's horses to replace the ones they kill.
Farrell at his gloomy best, which is not so much substance as it is gloom.
Keep in mind he is a spokesperson of a declining/dieing generation. Every generation wants to believe that they are the last, and the Baby Boomers are no exception to this rule. I have bad news for Mr. Farrell, however. The world will live on (even better) long after he (and his generation) is dead and gone...
One thing I disagree with - that the Earth will have 10 billion people in 2050. Ain't gonna happen. There is no way to feed and water that many people, particularly since the carrying capacity of the Earth will start to degrade with increasing population due to soil degradation, over fishing, deforestation, and so on.
"One thing I disagree with - that the Earth will have 10 billion people in 2050. Ain't gonna happen."
Exactly right, they are going to cull this current species of human to make way for either a cloned version and/or slightly different "human" with greater capabilities that is coming here soon....saw that last night on the "EvEnt". Great show by the way. I think I fall in the category of sentinal. Fuck aliens
I've read articles that say with good resource utilization the world can support about 15 billion. The point is though that people adapt and change as conditions change. The West's birth rate has plummetted over time without any government policy to do so. Generally speaking, greater prosperity results in lower birth rates.
Add this to your list:
FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields
http://www.marketskeptics.com/2011/04/federal-reserve-is-selling-default...
How it works:-
A small rich minority own large chunks of the US (land, stocks, bonds).
They collect the associated rent, dividends and coupons as income.
They are under-taxed so they get to keep much of their income.
When another middle class family folds, the rich buy up their land, stocks and bonds, and collect even more rent, dividends, coupons.
The rich get gradually richer. The middle class slowly turn into rent payers.
Guys like Farrell must be kicking themselves for missing out on some of the greatest money making opportunities in a generation.
Wonder how he feels when he looks at "Doomsday" stocks for short sellers such as these:
You wish. He bought gold when it was about $35.
my chart of JPM is talking to me. it says below 44 for a day or two and next stop 42.
THERE IT IS!!!
Oh, the CREAMY yellow! The BOLD black! The little squiggly lines reaching up, up UP!
Nice chart.
Got a cigarette?
AHHHHHHhhhhhhh!
Robotrader spotted!
turns out his luck is bad all around
http://youtu.be/ubpwmCai93g
there will always be rich people, poor people and in between. it's the law of averages. this diatribe is like getting pissed off at michael jordan for being such a great basketball player and you're not, pure petty jealousy. the super rich are not trying to screw your life over. they are living self indulgent excessive lifestyles and are not in some grand conspiracy to keep you down. you were born into a country where the most of the richest people came from upper middle class families, not some order of the knighthood and landed gentry. these proclamations are idiotic and a waste of time and effort. go out and get your piece of the pie it's there because of the flawed system we have set up if you're willing to work for it and take risks.
And there will always be peasants with pitchforks.
Have a nice day.
As bad as we are on the fiscal side, from the Dems hell bent on social spending and the Repubs hell bent on war spending, and the Fed hell bent on destroying the dollar with the silent ratification of this administration (which punishes the people in order to make bankers rich), maybe the single most troubling aspect is the main stream media's lies, telling us that everything is great, and buying into all of the above as a marketing tool against the middle class. The media of this period will go down in history as the Goebel's of this age.
The problems have less to do with capitalism, and more to do with an ignorant, apathetic electorate that is more interested in voting for their own goodies, than voting for what's best for the entire country.
Rasputin has a message for the "Doomsday Crowd". Especially the gold-clutching armchair anarchists:
........................................
Has Ras ever mentioned that nothing's changed? (With updated stocks-versus-PMs comparison)
Rasputin - Tue, Apr 19, 2011 - 09:05 AM
Nothing, absolutely nothing, has changed regarding our Ponzi monetary
system in the ensuing three years since Bear Stearns imploded--touching
off the worldwide:
"Great Disintegration"
...that Ras was sure was going to scroom us all.
However, as reported here:
http://www.zerohedge.com/article/goldman-reports-better-expected-earnings-average-employee-comp-591299-plunging-equity-var
...the same Alpha Thugs remain in charge, the same Pigmen continue
to rack up record profits, and the same proles remain as clueless as
ever.
In this case, Godman Cossacks has not only again rung up a killer
quarterly profit ( on revenues of nearly TWELVE BILLION FIATSCOS, hardly
"Great Depression" type numbers), the average pay to their employees
has grown as well.
This is the same group of goons that had to go begging for TARP
money and Uncle Warren Buffet's cash just to survive in the Fall of
2008.
(Ras Conclusion): Face it bears and GHSers/SHSers, it's
"Game Over". The Thugs and Pigs have won, the stock shorters and
perma-screechers have lost. There has been ZERO reform of the system, NO
gold and silver standard implemented and NO "Great Depression II".
In fact, Ras just heard a report this morning that McDonalds is
hiring FIFTY-THOUSAND WORKERS nationwide because business is
booming--far from having to shut down thousands of their restaurants
because the lambs are lining up at soup kitchens.
Sure, there is a bubble in gold and silver right now. But this
little party going on in the paper-based, bit-flipping, F12-punching
casinos has NOTHING to do with a reversion to a prudent monetary system,
but rather reflects the animal spirits that have infected ALL markets
and asset classes.
Furthermore, regarding whips and spoons, Ras has been attacked by a
few GHSers/SHSers for supposedly "cherry picking" AAPL stock and
comparing it to PMs in terms of investment returns (in which case AAPL
has BLOWN AWAY both gold and silver).
Well, here's a slightly broader comparison for you:
Between the Crash of 1987, when the stock indices bottomed at:
1. DJIA: 1725
2. S&P 500: 248
3. NASDAQ: 328
...and today's numbers of:
1. DJIA: 12,200
2. S&P 500: 1300
3. NASDAQ: 2305
...the ENTIRE SPECTRUM of stocks has TOTALLY BLOWN AWAY the returns on gold and silver, which were trading at:
1. Gold: 400 fiatscos (average)
2. silver: 7 fiatscos (average)
...in 1987.
So, in the ensuing twenty-four years since the supposed "economic
collapse" of 1987, stocks, on average, across ALL indices, have
increased an average of:
SIX-HUNDRED PERCENT
...while whips and spoons--during that same time-frame--have increased an average of:
Five-hundred percent
...and DON'T forget to subtract that 28% taxation on the gains on
your whips and spoons, further decimating the profits that you thought
you had made on your end-of-the-world investments.
(Ras Conclusion): Nothing's changed. Not since 2008, not
even since 1987. Furthermore, as Ras has now conclusively proven--over
nearly TWENTY-FIVE YEARS and across ALL STOCK INDICES--common, boring,
stocks have totally blown away PM in terms of net returns. And stock
holders might also have gotten a few dividends along the way and would
have had NO fear of confiscation by Uncle Thug.
So, once again Rasputin presents cold, hard, long-term facts. Will
the whip and spoon hoarders--currently swinging from the
chandeliers--pay heed to a Mad Monk's research and admit the truth?
Sounds like a bunch of lame excuses from a couple of butthurt traders who are mad that they have been getting their asses handed to them by inert lumps of metal for the last ten years.
lol, and now you want to use returns from a quarter century ago as justification for not owning gold and silver now that they are in a bull market, while stocks are in a bear market. I thought you were a trader? You seem awfully stuck on one asset class. True sign of a loser.
Silver just broke $44/oz, and the DOW is where it was in November of 2006. Silver was $11/oz in Nov of 2006. Pick your periods to better reflect trends.
Poor Robo been getting his balls punted daily by chunks of soft metal.
Actually, I see this in almost everyone around me, especially in the so-called "middle class."
Greed appears to be classless.
Wealthy Parents To Kids: Drop Dead
http://blogs.forbes.com/ashleaebeling/2011/04/19/wealthy-parents-to-kids...
greed is classless and so is a sense of entitlement.
I find the article rather funny.... We saw this "population crisis" argument back in the 60's and 70's as well, but as always if a problem is anticipated long enough in advance, technology will always find a solution. Not enough physical resources?? Well, at some price mining comets will start to become profitable... Meaning, there are no ends... Just shortterm hardships and new opportunities... However, to a dieing Baby Boomer I wouldnt expect them to see it any other way. It is just the nature of how self centered their generation has been defined by...
In short... The sun will keep rising long after the current generation of Baby Boomers are gone (Good Riddens to them I say). Yes, times will be difficult just as they were in the last round (WWII), but at the end of the day sacrificies will be made, people will still live, and the world will do its best to move forward into the next century presenting new technologies to solve the latest issues just as it always has...
It is human nature to question the most basic principals when the times are tough. Happens approximately once or twice every century (War for Independence, Civil War, Great Depression, Cold War(kind of), and now Great Recession), and yet capitalism is clearly the only path to success. Every other country that tried either socialism or communism has miserably failed (China, Russia, Central and Eastern Europe, Latin America, etc), and not for the lack of trying. Like all other economic winters this too shall pass one day and all will be well. We just need to learn from our mistakes and try to make different onces in the future.
Just a touch of historical perspective on the progressive nature of the U.S. I'm sure some readers realize this stuff and want to go back. Most don't though.
-During WWI there was a "sedition" law that specifically prohibited criticizing the war.
-In the late 1880-1910's when corporate fascism was arguably at it's peak, police joined paid thugs to beat and terrorize striking workers as young as 12 to go back to factories.
-In the early 1900's armed mobs routinely carried out vigilante justice, religious and racial persecution.
Very true. The second Amendment was penned specifically to minimize these abuses.
Capitalism is not the problem, nepotism is.
I agree That the electorate is ignorant, but I am seeing a greater attempt to educate them than ever before. If we can get our fiscal house in order, voting for goodies won't have as great of an impact. I praise Tyler Durden and this site for educating a lot of people who must go out and educate other. If you are active on any Internet forums, link those people to some of the great articles on this site. Make it your duty to educate fellow Americans. It is a travesty that millions of educated Americans believe everything they hear from the msm. That is changing, and changing quickly.
Farrell is extremely confused. Capitalism and bailouts have NOTHING to do with one another.
Capitalism, preys on the weaker poorer segment of society and abuses it's power and position. It's not about money ultimately, it is power. Most people don't want that much just a happy life, these lot in charge of the world want as much power as they can get their hands on, using capitalism as the vehicle to achieve that.
It's no longer the invisible hand, it's the invisible tentacle.
Capitalism is evil. Capitalism, by definition demands INCREASED profits (ie, Growth). Free Enterprise allows for profit making in order to perpetuate the activities which brings value to buyer and seller.
I'm thinking the current Mexican drug wars are an example of pure Capitalism.
You are exactly and precisely wrong.
The current Mexican drug wars are a pure product of government interference. The violence and corruption wouldn't exist if drugs hadn't been outlawed in the first place.
Whatever you think about drugs, it is a matter of fact and not opinion that the violence of the drug trade is caused by government efforts to outlaw it.
Violence disappeared from the liquor trade the moment Prohibition was overturned in this country. It will be exactly the same if drugs laws are ever overturned.
Of course, that will never happen, because there are powerful political interests in the US that benefit from the illegal drug trade.
I stand corrected.
Buckaroo, you are spot on. It is through these observations and reasoning processes over time that I have come to libertarianism. The improper application of force always results in even greater evil.
Buckaroo, you are spot on. It is through these observations and reasoning processes over time that I have come to libertarianism. The improper application of force always results in even greater evil.
Buckaroo, you are spot on. It is through these observations and reasoning processes over time that I have come to libertarianism. The improper application of force always results in even greater evil.
you need to lead this country. Tyler in 2012
The most important issue is not capitalism, the most important issues are freedom and by inference limited government. Capitalism is the result of the belief that we are all free, it is the imperfect economic system (like most human ideas and institutions) sought by freedom lovers.
The plutocracy wants government as this is the vehicle to assure and increase their wealth and power. We need enough government to insure the protection of our freedoms and the amount of government needed is clearly defined by the constitution. Of course this is just fantasy today.
The other thing freedom implies is morality of the people who participate. Freedom cannot survive a predator class acting in grossly immoral ways. There is no government that can dictate morality, but they can enforce the moral requirements of the people to some extent. Again, Christianity is the basis of this morality, but does not require that you be Christian to understand and abide.
We are so far from these basic ideas that it is difficult to see how we can recover. The basic nature of man who is of this world will see to America's decline.
Its is all quite predictable ... and very sad.
sschu
More like "Radical Authoritarians" than "super-rich anarchists" who rule our nation. There is a certain amount of anarchism in their actions and strategies, but submitting to authority looms very large on their agenda. One has to behave or where does one wind up - in the burgeoning growth industry - prisons! If you didn't already know - this isn't capitalism anymore and it hasn't been since the advent of Clinton. It is, literally, barbarians at the gate, although they've long since crashed the gates and are now currently running loose within our society wreaking havoc and impoverishing, destroying and pissing on our collective futures. For future reference - Many of their leaders live out in the Hamptons.
"Cornelius: [reading from the sacred scrolls of the apes] Beware the beast Man, for he is the Devil's pawn. Alone among God's primates, he kills for sport or lust or greed. Yea, he will murder his brother to possess his brother's land. Let him not breed in great numbers, for he will make a desert of his home and yours. Shun him; drive him back into his jungle lair, for he is the harbinger of death." ~Planet of the Apes (1968)~
Farrell is a partisan shill, using neutral language while citing only examples from one side of the political whorehouse. I wonder if he realizes that if the time comes to "eat the rich" that he, and probably most of his friends and family will be among them.
Farrell was taught what I was taught in US high school and college: Capitalism naturally and rightfully "evolves" into socialism.
Farrell: A useful idiot.
vs
Founders Keeper: Preparing for the outcome.
...except it's evolving into fascism.
Socialism is where the working class rise up and take control of the government in a revolution. The difference being that the working class are the majority and fascism is run by the wealthy minority.
A small by very important difference.
Do you have this glowing, romantic vision of socialist masses, from all walks of life, clambering over the barricades, banners whipping in a stiff, smoke filled breeze, taking control of county courthouses across the land?
What shit. But by all means run with it if you like the mileage estimates.
Whoever kills the most and best gets to run the table next. When any system goes out of balance it topples. It's pure physics, mathematically provable. Some systems are inherent in their stability to a greater extent than others, yet all will fail under a pre-determinable set of inputs. Our current system is headed there.
And from an earlier post of yours... greed is as inherent in babies as respiration, because without struggle life is extinguised. That makes violence a necessary skill. Too much can kill you though... which makes, wait for it! Makes the use of violence yet another struggle. Struggles within struggles, like nesting dolls.
A great reset is upon us. Prepare as you see fit, place your markers on the table and best of luck.
"Do you have this glowing, romantic vision of socialist masses, from all walks of life, clambering over the barricades, banners whipping in a stiff, smoke filled breeze, taking control of county courthouses across the land?"
Oh you mean like this?
http://www.bbc.co.uk/news/uk-england-merseyside-12668444
Nah - it could never happen.
"When any system goes out of balance it topples. It's pure physics, mathematically provable."
Humanity cannot be predicted with a formula - that's why the market predictors are so often wrong.
"And from an earlier post of yours... greed is as inherent in babies as respiration, because without struggle life is extinguised. That makes violence a necessary skill."
A baby cannot survive without air - but a baby does not need to be greedy in order to survive. Did you ever hear of Ghandi?
Tried to arrest a judge. Tried and failed. Why is that? Was their belief in socialism not pure enough? Incredible, hygienically challenged, cannabis fueled skate punks block a few doors and their fanboys cheer it as the storming of the Bastille. You people are going to lose you know. Quite Badly.
A baby is completely self serving. It yells until it is fed. If it wants the fascinating, flickering candle flame as it toddles around, it will reach for it. Until the flame burns it. Thus, it is taught consequence by an application of violence, resulting in pain and memory.
Now, if we would only starve the low end leeches by stopping their free cheese shipments, they would learn a valuable lesson. Also, when this vote garden of cheese eaters withered, the upper end leeches would lose their protected perch and learn this same valuable lesson. True gratification comes from production, production from work. Measured in watts, joules or horse power. Mathematically provable. You can't argue with studies that have foundations in numbers. Nothing is for free, (check your physics cliff notes) it all requires work.
voodoo science, such as psychiatry, women's studies and your blessed socialism are not based upon math and therfore fail.
Great journies start with small steps.
Don't forget - it's not in the interests of Government to allow the rule of law to be undermined or ignored. You will find this with your own constitution.
If you look carefully we are only governed 'by consent' - it's a freedom our forefathers fought for. If we remove this consent the system collapses.
Why would anyone consent to be ruled by people intent on our enslavement? It seems to me that people just need to be made aware of this.
You however are already consigned to defeat - you complain all day about the unfairness - by you still allow your consent to be governed.
...now what were you saying about freedom and liberty?
Did you ever read or see "Lord of the Flies"?
Brilliant posts and arguments, LM. Thanks.
The two greatest threats to America today are: (1) the dead church; and, (2) the "financialization" of the American economy. The discussion of anything else is just noise.
Regarding (2).... Do yourself a favor and read, "The Death of Capital."
I would say the peak oil and net energy make all talking points moot.
There are some, in a position to know, that understand that Oil Interests have been sitting on gigantic reserves for decades, leveraging control of these reserves for political and financial gain.
Google "Lindsey Williams" if you want to know more.
"Lindsey Williams, who has been an ordained Baptist minister for 28 years, went to Alaska in 1971 as a missionary."
Ah yes,evolution is "just a theory" and peak oil is not real. Good source. I guess the devil makes up all the FACTUAL EVIDENCE regarding peak oil.
http://inteldaily.com/2011/01/a-dramatic-shift-in-the-peak-oil-discussion-you-dont-have-to-take-my-word-for-it/
Huh?? Yes he is a Baptist minister but that has nothing to do with what he has to say about the oil industry. You might want to listen to what the man has to say, he actually was employed in the oil industry for many years and made friends in very high places.
But all the peak oil proponents that have and do work in the industry have no idea what they are talking about,right? You've decided its all a big conspiracy and found someone who agrees with you,so ignore the fact that hes a young earth creationist and buy into his argument. Well,he is a pastor I guess that's what hes good at,selling snake oil. Conformation bias?
If my M.D. told me the earth was 6,000 years old and evolution was just a theory,he would be promptly fired.
"A quick web search shows that Lindsay Williams' book was published in 1980 by Master Books, a publishing company started by Henry Morris, one of the founders of the modern anti-evolution/young-earth creationism movement. If you took Master's entire catalog and shook it up, you wouldn't find enough real science to light a match."
http://en.wikipedia.org/wiki/Henry_M._Morris
Surely a reliable source when looking for the truth about the future of our species. A baptisit ,young earth creationist. Up next,the pope and his outlook on gold and silver!
Socializing losses and privatizing gains for the Fed cartel and its friends is not capitalism. It is financial piracy on a grand scale.
The Federal Reserve was conceived as a strategy by wealthy international bankers - the Morgan group and the Rockefeller group in America and the Rothschild group and the Warburg group in Europe - to protect its members from competition, i.e., captialism. The cartel only had to convince the Congress and the public that it was an agency of the United States government.
Is Paul Farrell so blinded by the cartel’s smoke and mirrors he cannot see that America has always been the target of this crowd whose global government design is socialism? Can he not see that the American economy is being deliberately exhausted through foreign giveaways and domestic boondoggles?
G. Edward Griffin asks: “When once-proud and independent Americans are standing in soup lines, will they be ready to accept the carefully arranged ‘rescue’ by the world bank?" If so, the IMF with its world currency, the SDR, is ready and waiting.
In 1913, Americans not only lost the body of laws that ruled and bound them together as Americans, as Rothschild said they would, they lost their economic system and freedom.
It’s time for those who realize capitalism has been dead in America for many years to take back this once great economic system from the socialists who are advocating the overthrow of our Founders' “decadent capitalist system" to enthrone socialism in its wake.
The actions of a government taken over, managed, controlled and directed by a private cartel is a “visible hand” playing a shell game. It has led to economic despair.
Is Paul Farrell so blinded by the cartel’s smoke and mirrors he cannot see that America has always been the target of this crowd whose global government design is socialism?
Yes he is. Lenin called this type "useful idiots." It all comes down to man's insatiable desire to control other men. As Tolkien said, "above all else, men desire power"
Good post.
sschu
Tmosley,
You might do better by asking him what he is planning to replace evil capitalism with, since he seems to have something in mind, and people like him always have something in mind.
Afraid to ask yourself?
Well it's not my job to come up with ideas now is it? This is capitalism remember and nobody is paying me to hand you the solution and pathway to utopia - so why would I divulge it?
What I do know is that Capitalism is going to fail - the argument about this being fascism is a direct consequence of capitalism.
Read the pattern.
Capitalism - a system where participants are driven by making profit with the aim to accumulate capital and therefore make more profit (stop me if you disagree)
The idea being that the successful will become wealthy and society will benefit from 'the promotion of the best to the top"
Banks are very good at capital accumulation - they accumulated so much they are bigger than most countries and hold more capital - in real terms this means they can buy all the natural resources of nations and leave them with nothing.
Banks are also risky, they are not dealing in natural resources (whcih might warrant some care) but paper money - allowing them to gamble it without any concerns.
...then things go bad and the nations are faced with 'economic chaos' by letting the banks fail or 'bailout'. This is of course TARP.
Naturally those who still believe in the free market are quick to point out that letting the banks fail should have been the solution - alas they are talking shop as they would not have to face the angry public who just lost all their savings.
The bailout was an inevitable consequence of capitalism and those who are 'best at it' becoming TBFT.
Maybe you could 'break the banks up ' uuuuuuur wrong answer - that is interference - i.e. 'socialism'
This is like the same situation the US is in - it's a no-win situation. It's called a contradiction and it's what happens when systems are built upon contradictions.
...but don't let me put you off - you stick with your beliefs that capitalism can be made to work - however I know the contradictions within the system - which means it will never work. You blame socialism - when actually it was capitalism that 'provided it's own grave digger'.
If you stand to the sidelines while someone detonates a house, in my book you are still culpable. Step up and provide solutions. Standing to the side and saying "this doesn't work, I tell ye" is something anyone can do. You're just wasting your time.
You are advocating the destruction of capitalism (at least as you see it), so you're halfway to something. Fine -- there is a lot to dislike about how it works in our nation -- and I join others in saying it isn't capitalism.
But if you are going to advocate a different system, at least pick a different system to advocate, or at least come up with something new to advocate.
Let me clarify. There are two fundamental movements amongst crowds of lawless people: riots, and rebellions.
A riot moves through a city, destroying everything, unsure of its objective, and unwilling or unable to claim one. It lacks any passion beyond temporary anger, and any driver beyond the raw panic of the moment, the fight-or-flight instinct to do something -- anything. Their aims are seen in destroyed shop windows, and flaming vehicles.
A rebellion has an objective, a set of grievances, and moves to see the end to those means. The people in it are people, not just an angry mob.
You avoided the question of what you would suggest as a solution. You're just rioting. And a rioter is a potential pawn.
Come up with a potential solution. Then you'll have a cause, not just complaints.
*Forward History is in no way advocating the overthrow of the government.
http://en.wikipedia.org/wiki/Anarchism
This theory fails on the fact that the super-rich aren't that smart. It is presuming that these people actually know what they're doing. They don't - they are just afraid to lose out on what they have and so they are fighting a desperate, rear-guard action to defend the status quo. Also engaged on the side of the status quo are those who do best out of it - government employees, unions (especially public sector unions) and big corporations. If we start thinking of this as a fight between rich and poor - rather than between privleged elites and the rest of us - then we'll lose.
Also, the population claim is bogus. At most, we'll peak at 9 billion people in 2050 (and probably a lot less than that) and then the world will fall in to rapid and devastating population decline...which has already started in a lot of the most developed world plus China (really, population continues to grow on the backs of only a few nations...and those nations have rapidly diminishing birth rates). Our problem in the second half of the 21st century won't be what to do with the people, but how to maintain a semblance of prosperity when we have ever fewer people.
This article reads like Mein Kampf
Do you think it will sell that good, if published? Invest now, in 50 years there will be an entire television channel dedicated to it.
The author needs to learn definitions of the words he uses to generalize/describe complex topics.
He calls the current system "capitalism," which is true. However, it is only as true as this statement: "hitler's hollacaust targeted humans." The capitalist system in place is a specific subset of capitalism (better described as state-monopolized capitalism, crony capitalism, neo-capitalism), just as hitler's hollocaust targeted a specific subset of humans.
He calls the capitalist system under the control of the rich "anarchy." Anarchy is the absense of a state, not the absense of oversight for people running the state. By this statement, the author implies that anarchy is equivalent to the rule of law not being upheld, which is very untrue. Anarchy advocates voluntary governance in place of monopolized territorialized governance. Anarchy has nothing to do with IF rules/laws are enforced, but HOW they are enforced.
"Voluntary governance"??
Isn't that what the big banks were doing?
Voluntary governance, isn't that called democracy?
gh
You can opt out of a democracy, stop paying them, and choose a different governance provider? Since when?
The big banks have taken control of the monopolized system of governance, often refered to as statism.
While Farrell points out many of the ill effects of our current system, calling out "Capitalism" as the cause is misguided. All of the largest and most powerful companies have lobbyists who pay millions of dollars to our corrupt politicians in order for "special treatment" which results in an unfair advantage over competitors (especially small businesses) including pricing competition, access to certain markets and tax evasion. This has allowed these monopolies to become TBTF resulting in "privatizing profits while socializing losses". Thus, corrupt politicians, incompetent regulators along with a system which gives unfair advantage to big business over small business has destroyed the system. Call it cronyism, corporatism or crookism, but don't call it capitalism.
You are right Aerial. People are mistaking capitalism with our present system which is Crony Fascism.
God has his economies as does man (within God's) and each one we either have or will have broken after all is said and done. There was the Edenic, Adamic (when Eve blew it), the Noahic, which we're still in the process of screwing up by polluting the earth and not putting to death the guilty, the Mosaic (to the Jews only which they couldn't keep, ended by Christ's Xction) and the New, to the jews also but gentiles get in on the coattails of the jews (which the church is currently ruining and has been devasted by apostasy in the last hundred years) You can probably graph the rise in apostasy around 1890 with the fall of capitalism. It is not looking good ladies and getlemen.
I don't want to argue about nomenclature, or dialectics, or ideology. None of us would be here if we didn't agree that there is a slow motion shitstorm of epic proportions taking place on our planet, nor do we disagree for the most part as to what are the causes of this shitstorm.
It seems that we humans have never found a system that places 'life' at the center of its rationale. Our systems place capital, or the state, or any number of personalities and principles at the center - but never simply 'life'. I could go on at great length as to what mean by 'life', but I suspect you know in your hearts what I mean, so I won't.
I am not naive or young. I'm old and tired of this shit.
I don't have a fucking clue what the answer to this mess might be, but I think that our most fundamental problem has always been that our systems elevate everything but the principle of life itself.
All I want in the world is for us to live and live well. I want this for all life, not just one species.
+1
we need life development rather than this addiction to "growth". Well said Mr. Black
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.
How have we fucked this up so badly?
Well said. I think you should check out this video if you haven't:
http://www.youtube.com/watch?v=sLCEXtpTNYU
Our modern method of social problem solving is centered around using coercion/violence to "solve" problems. This method of problem solving has never been successful, as evidenced by the eventual failure of every state for thousands of years.
Wonderful. Thank you. I had not seen that.
Stalin, Marx, so back to college. What about Hegel?
I lift things up and put them down.
Where’s the rotating pill? Time for a nap.
Mr Farrell is Mr Pancake. Aka flip-flopper. These media type who carefully craft their perceptions of reality. MW is home of the Unicorn, and rainbows. This guy could sell used toiletpaper.
Everything is backwards. Everything is upside-down. Doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the major media destroy information, and religion destroys spirituality. ~ Dr Michael Elver
Capitalism is not a form of government.
Capitalism is a financial arrangement that incentivizes people to work for a profit.
The purpose of government should be to represent the long term best interests of the country and ALL of the people of a country.
The rich have been the benficiaries of all of the money and credit that has been allowed to be created over the last several decades. The money passes through the hands of the poor and the middle class and ends up in the bank accounts of the rich. Who then lend it at interest.
In my opinion, taxes on the rich are one way to recycle some of the profit they have snared. And a steep inheritance tax retards the tendency for money to become "old money", and the tendency for inheritors of "old money" to be unproductive citizens. There is nothing wrong with a progressive tax system. There will always be hungry new entrepreuners to take up the burden of production and profit, who will work harder and for less. Just as big business asks the poor and the middleclass to do: work harder for less!
And term limits for elected officials would go a long way to stopping the graft in politics. As would a taxpayer funded elections campaign system. I think political commercials should be banned from television, the same way that pharmaceutical commercials were banned at one time, before drugs got too expensive. Television is a medium that is too prone to be used to play to the emotions of the viewers.
Call me a socialist and I'll call you an anti-social anarchist.
The reality is that most people are not professional politicians and are thus manipulated by professional politicians the same way that most people are not doctors, and are just as easily manipulated by drug salesmen.
gh
People work for a living, they invest for a profit.
Stop right there, there really is no purpose to government beyond the social and economic needs of the people who sanction that government.
Credit is an egalitarian extension of money. The rich profit from the credit which is provided to the consumer class.
The definition of an entrepreuner is someone who takes on a new business, or a new approach to an old business. The problem is regulatory. A man who grows pot is punished. The CEO whose company makes Prozac is rewarded. Corporatism is the enemy of entrepreunership. Bill Gates created a business which bought and destroyed untold technological innovations because it ran contrary to his product, and his business model.
This statement is truly laughable. Term limits limit your obligation to answer the voters on you record. The incumbency is a product of media control by corporate interests. That agreement could be ended with one single act, nationalize the air waves, or a part of them.
Professional politicians are just whores. They would whore for you if you gave them money. Americans receive two dollars in service for each dollar they pay in taxes. Hey, want a freebie? No joke the hookers on the street corner are laughing at you. They are the people being manipulated. Obama is a puppet, but whose puppet is he? He's not ours, we didn't pay for him. The only reason these paid prostitutes have anything to do with us, is that every so often we run them out of town, and we clean up the streets. Every now and then the public gets a case of righteous indignation. So the whores stay off the main streets, and try to work behind the scenes. Prostitution is a difficult occupation. It makes you gray and worried looking, in a business where looks are everything.
Looks like silver is going to be worth 44 fiat notes right now. About $43.80
Geat article but we need more analysis.
Nothing wrong with capitalism but main problem is „democracy“ which is completely hijacked, manipulated and completely corrupted.
As consequence, good old competing capitalism turned to strange bastard beast eating its growth substance for benefit of very very few … Few which are completely insane.
Best case scenario (for people) is that those greedy sick few find new growing assets somewhere else (out of USA, hope for Moon) before completely ruining once great country.
Questions are : how much of the World is enough for them? How much more can people take?
Author is a philosophical Forrest Gump
Of course the idea of a 'free' market is utopia, if not bullsh!t.
There is no 'free' market, as any market will have rules and regulations, created by people to favor some people.
also, it's never only about business, it's always about people.
We have to decide if we want to go on pretending that markets operate based on 'universal' laws, or we change the laws to reward ideas and effort, getting rid of speculation and wealth extraction
We don't need to "change the laws to reward ideas," that's what a free market does naturally in the absence of government interference.
You claim that free markets are "bullshit", yet you clearly don't understand the first thing about them-- or, you don't want to.
You look like another garden-variety statist. Yawn.
Fine .. no government (which I did not mention).
Anyway, who writes the rules of your 'free' market? Or do you believe that God or the laws of the universe are at work?
Yawn my ass!
Do you need to consult a rulebook when you buy lunch at McDonald's? Do you need a rulebook to find a job? Do you need a rulebook to produce a product or deliver a service?
A few hundred years ago, you could probably fit all the written laws into a few big books. They seemed to get along just fine that way. Now, you walk into a law firm and they have rooms and rooms filled wall-to-wall with laws. If rules and laws were so great, why are we so much worse off today, with budget deficits beyond comprehension, taxes on everything, and bureaucracy everywhere?
... usual rant without logic ...
Who seemed to get along just fine ... where? when?
there were less laws ... rules nonetheless ... as i said there is no 'free' market and there never will be, even though there are a lot of people that believe in a mythical market governed by universal laws ... well we ight as well believe in Santa ..
once we realize that human created rules govern the 'free' market, we'll be able to take ownership for the rules and avoid 'free kunches' for the oligarchy that manipulates the rules ...
easy ... but thinking, and not blind faith, is required!
Wrong again. The free market is "free" because it is perfectly capable of governing itself, in the absence of outside interference. We have 10,000 years of history proving that it works great (where it is allowed to work, of course). Socialism, Statism, and Communism have all failed, generally rather quickly I might add.
It doesn't take "blind faith" to believe in something that is clearly visible everywhere, to people who bother to look for it-- or who aren't encumbered with socialist brainwashing. Even when grotesquely encumbered (as it is today in the glorious Socialist States of Amerika), it performs miracles of efficient resource allocation.
There is no free market when the government sticks it's nose in regardless of how small it is. But like pinocchio's nose which keeps growing with lies so does government interference in the free market.
Why is this so hard to understand? The bankers fucked up and the people have to pay for it.
Capitalism is amoral.....
Correct. Amoral is exactly right. NOT immoral. People have morals, and can exercise them as they see fit under capitalism.
This whole thing is hogwash. There are less than 500 billionaires in the US. Around 1200 on planet earth.
It's easy to always blame a cabal of puppetmasters moving the invisible strings of our destiny when in fact the truth is much scarier and unnapealling:
We have become fat, stupid, and lazy as a society.
wow .. great insight, right there!
no puppetmasters?!?! .... of course
I have very deep skepticism of Paul Farrell. He relentlessly promotes his doomsday scenario, but never offers an alternative. He also creates a permanent straw man scenario that is warped and twisted for populist skullduggery, but he never tells us what he thinks we should do. I now dismiss him as a crackpot!
He's not about solutions, just doom!
I know we're in deep trouble, but does ANYONE know what he stands for?
Of Paul Farrell’s recent articles, this epistle finally descends into the rhetoric of Karl Marx. In every detail, like the skillful Marx, he identifies all of the ills of an economic system being subjugated by the rich. It would be Paradise, he says, if only the rich could be knocked down to the level of the common man.
Yes, the details of Farrell’s assessment ring true with the bought Congress, the multitude of lobbyists bending the rules for their clients and the arrogance of wealthy corporatists parading before an adoring media.
But the picture is a false one.
Farrell omits the single most important aspect of our dilemma – the operating center, the hands on the lever at the core that make all of these travesties, not only possible but insuring, a doomsday future. It is the private central bank, with the ownership of the medium of exchange, that made the control of any official from local game warden to the president of the United States possible. No wealthy, cheating, conniving CEO could have achieved this on his own; no Blankfein and his fellows could have achieved control of both political parties and their primaries, of the selection of political candidates, of the bureaucracies that run the country and, yes, even the courts, without the sponsorship of the owners of the New York Federal Reserve Bank.
Only the controllers, and I do mean controllers, of the government could have sealed this accomplishment. With this omission, Farrell does a huge disservice to all of those who would read his words. And it answers the question: Does he do this intentionally?
Yes.
Yeah, Farrell's a douchebag all right.
I completely agree about the role of central banks. However we must understand that the people running central banks are the same who run the shadow system, the same who make up the oligarchy. They share the same belief in the 'universal' laws who favor them, the chosen ones, and condemn the populace, the disgraced ... the citizens.
there is no free market ... only free lunches, especially in the era of algos.
Capitalism!
Here's a better word, Paul: FREE ENTERPRISE! There is NO freedom without free enterprise!Free enterprise exists because free people willingly buy and exchange value between themselves because both sides of the transaction see personal benefit. It is the heart of freedom itself. If people prosper because they create a good or service that many people want, then so be it!
Capitalism is NOT what we have now. We have state capitalism, also known as fascism! It is NOT free, and it is destructive. But Farrell wants us all to believe that fascism is capitalism. That leaves me wonder what is his TRUE agenda! It is NOT freedom!
Paul Farrell is a doomsday NUT!
Last year, he was promoting population control by forced abortions, requiring licenses to have a baby, and a planet-wide one-child policy! His agenda is dark and nefarious, and he promotes it through his end-of-the-world rantings. Hey Paul, why don't YOU lower the population by falling on the sword first!?
He's a NUT! Ignore him!
Ok ... nut ... got it!
Anything else you feel like contibuting ... besides hurting your feelings, did he go wrong anywhere?
You dont need any of these scenarios. if nothing changes and we stay on this course we already are currently walking on, the end game will happen. have a nice melt up day.
CSI an immigration Think Tank has documented that immigration and even the third generation afterwards of people from Third World are net users of government services. So we have the majority populace about to become people who TAKE more from .gov, i.e. OUR TAXPAYER $$$, than they pay in, in fact 50% of "Americans" do NOT pay ANY taxes, and no I don't mean just GM.
There are consequences for allowing your home to become a new breeding ground for strangers.
Give me your tired, your huddled masses,
Yearning to breathe free.
The wretched refuse of your teeming shore.
— Emma Lazarus
I could never understand how it was that so many thoughtful and intelligent people bought the CAPITALISM bill of goods, nobody has said it better:
The key words are usury and speculation.
Nothing wrong with a system that rewads idea and investment in worthy effort.
What we have now has nothing to do with that... we have a bunch of people (and now algos) playing trends, regardless of ideas and worthy efforts,.... it is only wealth extraction... Monopoly game with the world as its board ...
Banks borrowing at 0% and re-investing in TBonds or commodities causing destructive inflation, this has nothing to do with freedom and effort... unfortunately, it has everything to do with greed and speculation ...
Although many hope hat at some point the system will change, I do not see the oligarchy allowing it. Even though 90% of the people complain about the situation, you still have a good half that , in the name of a mythical 'free market', professes the same values of the oligrchy and fights against self-interest and in favor of the status-quo, even though they do not realize it .....
Pain will need to get a lot higher before the people will unite for a good dose of ass-kicking ... for now, enjoy Dancing ith the Stars ... or even the 'royal' wedding .....
The article is pure propaganda and utter BS.
ok ... here is another one ... malek => BS
Thanks!
writingsonthewall is right - tbmosley is wrong;
capitalism is worship of money - and self;
anyone who puts money before God and people -
is satanist/materialist scum;
"YOU CANNOT SERVE TWO MASTERS - GOD AND MONEY"
lol, you don't even realize that every society that adopted those "others first" types of philosophy wound up murdering all of the religious folk.
?
Paul, you've mistaken free market capitalism for crony socialism masquarading as capitalism.
Capitalism is what me and my neighbors do at the local farmers market.
What they are doing on Wall Street is far removed from all that. The Wall Street-Politician-Federal Reserve Unholy Trinity of the Church of Satanic Central Planners is the antithesis of capitalism.
And, by the way, Sen. Bernie Sanders is a committed socialist who is part of the problem. Socialists are working with the banksters to fund their socialism through all of their deficit spending. Reagan had a second half to his Reaganomics, which was to radically reduce the size and cost of government, but the sociaist-democrats always controlled his congresses and he could never get it passed.
Free market capitalism is just fine, it's marxism-socialism that is collapsing. The banks should have been made to fail for their bad bets instead of getting bailed out and throwing the country under the bus.
Paragraph 4 has a typo. Its a $3.5 trillion budget- not $1.5. Paragraph 8 "pushing climate to a tipping point" is la la la.