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Flash Boys Has Been Dethroned At The Top Of The Amazon Bestseller List By This Book

Tyler Durden's picture




 

From a critique of pure capitalist algorithmic frontrunning (which was at the top Amazon bestseller spot until a few days ago)...

 

... we go to a critique of pure capitalism.

 

Which of course, is merely a rehash of a critique of all capitalism as expounded some 150 years ago by this book.

 

 

 

And to think all it took was 147 years of 'capitalism' for the circle to be complete from Das Kapital's labor-vs-capital Marxist manifesto to Thomas Piketty's Capital "exposing capitalism's fatal flaw" topping the Amazon book charts. One wonders who finds the time to read the 696 page tome whose core thesis is  well-known for socialists the world over: under capitalism the rich, or hoarders of capital, get steadily richer in relation to everyone else; inequality gets worse and worse and it's all unavoidable, between #Selfies, The Voice semi-finals, and Dance Moms finales.

One thing is certain: the financial asset tax we warned about back in 2011 is coming with a bang.

So, communism's heyday is coming again, right? Maybe. One thing is certain: liberals couldn't be more delighted about mandatory equality. But as we discussed yesterday, there is one thing that no one seems to want to discuss about Piketty's findings... gold...

Well, feature the chart that Professor Piketty publishes showing inequality in America. This appears in the book at figure 9.8; a similar version, shown alongside here, is offered on his Web site. It’s an illuminating chart. It shows the share of national income of the top decile of the population. It started the century at a bit above 40% and edged above 45% in the Roaring Twenties. It plunged during the Great Depression and edged down in World War II, and then steadied out, until we get to the 1970s. Something happened then that caused income inequality to start soaring. The top decile's share of income went from something like 33% in 1971 to above 47% by 2010.

Hmmm. What could account for that? Could it be the last broadcast of the “Lawrence Welk Show?” Or the blast off of the Apollo 14 mission to the Moon? Or could it have something to do with the mysterious D.B. Cooper, who bailed out of the plane he hijacked, never to be seen again? A timeline of 1971 offers so many possibilities. But, say, what about the possibility that it was in the middle of 1971, in August, that America closed the gold window at which it was supposed to redeem in specie dollars presented by foreign central banks. That was the default that ended the era of the Bretton Woods monetary system.

That’s the default that opened the age of fiat money. Or the era that President Nixon supposedly summed up in with Milton Friedman’s immortal words, “We’re all Keynesians now.” This is an age that has seen a sharp change in unemployment patterns. Before this date, unemployment was, by today’s standards, low. This was a pattern that held in Europe (these columns wrote about it in “George Soros’ Two Cents”) and in America (“Yellen’s Missing Jobs”). From 1947 to 1971, unemployment in America ran at the average rate of 4.7%; since 1971 the average unemployment rate has averaged 6.4%. Could this have been a factor in the soaring income inequality that also emerged in the age of fiat money?

This is the question the liberals don’t want to discuss, even acknowledge.

h/t @Not_Jim_Cramer

 

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Wed, 04/23/2014 - 15:34 | 4687629 Devotional
Devotional's picture

you guys are lucky, I wake up every day to communist posters, communist street slogans, communist street graffiti and every day socialism on TV. It's depressing trust me ... shit thing is, these assholes want more of it!!!!

o_O

Wed, 04/23/2014 - 15:36 | 4687637 Grande Tetons
Grande Tetons's picture

Hey, how is the weather in Chicago? 

Wed, 04/23/2014 - 15:42 | 4687663 AlaricBalth
AlaricBalth's picture

I think Devotional is Jay Carney having a moment of clarity.

Wed, 04/23/2014 - 15:44 | 4687683 Devotional
Devotional's picture

for real man, I live in a town in Portugal that is fucking COMMUNIST man!!!! It's fucking Mao, Lenin all the way. These people orgasm to Das Kapital and the communist manifesto!!!

I am having a hissy fit, I know!!!!

o_O

Wed, 04/23/2014 - 15:53 | 4687721 cougar_w
cougar_w's picture

Lenin is one thing, but Maoists will murder your entire family just because.

Wed, 04/23/2014 - 15:56 | 4687724 The Juggernaut
The Juggernaut's picture

The beauty about Capitalism is that wealth is indeed concentrated BUT always moves freely, not controlled like communism.  Entrepreneurism is Capitalism and it acknowledges the Individual.  Everyone can own something.  But when gov't represent large cap. Co.'s then wealth is concentrated AND controlled like fascism and communism. I'm writing a book on how to debunk Communism in 4 sentences.

Wed, 04/23/2014 - 16:00 | 4687742 macholatte
macholatte's picture

 

 

From each according to his abilities, to each according to his needs.

Karl Marx

 

Yes……. But who decides?  Certainly not you.

 

We learned about honesty and integrity - that the truth matters... that you don't take shortcuts or play by your own set of rules... and success doesn't count unless you earn it fair and square. The truth is, in order to get things like universal health care and a revamped education system, then someone is going to have to give up a piece of their pie so that someone else can have more.

Michelle Obama

 

 

Argonne researchers 'hack' Diebold e-voting system

http://www.computerworld.com/s/article/9220356/Argonne_researchers_hack_Diebold_e_voting_system_

 

 

Wed, 04/23/2014 - 16:22 | 4687797 The Juggernaut
The Juggernaut's picture

Communism proclaims it has a "classless" society but that's fucking stupid because Communism needs a permanent class of people to steal wealth to redistribute.  They're meglo-fucking-maniacs.

 

Communism is a way for people to skim off the top (if not skim everything) of what they steal (tax).  Communism is for the Weak and Weak Nots.  The Weak get their shit stolen and the Weak Nots do the stealing under the guise of charity.  Its the biggest con of humanity and I'll wake up Karl to tell him then throw his ass back in the dirt.

Wed, 04/23/2014 - 16:24 | 4687845 Oh regional Indian
Oh regional Indian's picture

I thought it was going to be 918 Shades of Grey or some such.

Also, Animal Farm splains Communism best....

Reality on two legs good...

ori

Wed, 04/23/2014 - 16:38 | 4687898 jbvtme
jbvtme's picture

paul, sanders, krugman...they're malcontents reading a script. collectivism is what's for dinner

Wed, 04/23/2014 - 17:03 | 4688001 DoChenRollingBearing
DoChenRollingBearing's picture

AlaricBalth

Please see below re Lima restaurants.

Wed, 04/23/2014 - 19:24 | 4688444 Abi Normal
Abi Normal's picture

Fuck all Communists, repeat, fuck all communists!

Wed, 04/23/2014 - 21:57 | 4688947 old naughty
old naughty's picture

"This is the question the liberals don’t want to discuss, even acknowledge."

Um, I wonder why? As if cap2com and backNforth are any different?

Wed, 04/23/2014 - 22:17 | 4689029 Polonius
Polonius's picture

Seems like we should give capitalism a try because I think it will probably work.  Anyone seen any capitalism around here lately?

Wed, 04/23/2014 - 23:02 | 4689142 tbone654
tbone654's picture

I once said, "We will bury you," and I got into trouble with it. Of course we will not bury you with a shovel. Your own working class will bury you.
Nikita Khrushchev

The press is our chief ideological weapon.
Nikita Khrushchev

Politicians are the same all over. They promise to build bridges even when there are no rivers.
Nikita Khrushchev

Wed, 04/23/2014 - 23:04 | 4689150 tbone654
tbone654's picture

10/28/11
Amusing

Here are two quotes from Nikita Krushchev that should send chills down any true blooded American’s spine.

“I can prophecy that your grandchildren in America will live under socialism…Our firm conviction is that sooner or later Capitalism will give way to Socialism. Whether you like it or not, history is on our side. We will bury you.” – Nikita Krushchev, July 1957

“The United States will eventually fly the Communist red flag…The American people will hoist it themselves.” – Nikita Krushchev, July 19, 1962

Was Krushchev right?

The new Obama mentality: “Ask not what I can do for America, ask what America can do for ME” may mean yes.

Thu, 04/24/2014 - 01:48 | 4689400 old naughty
old naughty's picture

Are we still hanging-over all these -ism thingies?

 

Wed, 04/23/2014 - 16:25 | 4687855 Son of Loki
Son of Loki's picture

Das what !?

Russian makes my head spin. Besides, I haven't finished "My Life Gigging the Frogs," a book [on sale for $1.28 at jcp when you combine 18 coupons and get cash back/rewards] by one of them Duck Dynasty TV peeple.

[BTW, that sweet $1.28 is available only if you use your jcp card]

Wed, 04/23/2014 - 16:35 | 4687888 Otto Zitte
Wed, 04/23/2014 - 22:00 | 4688957 old naughty
old naughty's picture

Hey, you might get your wish...

now that the movie right is likely sold (Brad or not), no need to continue pumping.

The only thing I can't see happening is for O to hand it out free.

Wed, 04/23/2014 - 23:46 | 4689231 boogerbently
boogerbently's picture

Every year, since the printing press was invented, the NUMBER 1 BEST SELLER....has been the Bible.

That New York Times list, is always #2-11.

Thu, 04/24/2014 - 02:33 | 4689428 ebear
ebear's picture

Lots of motels in America.

Wed, 04/23/2014 - 17:41 | 4688149 cocoablini
cocoablini's picture

Communism as implemented in China and Warsaw pact nations is just another oligarchical set up-or totalitarianism. No need to bash "communism" because of bad implementation. The problem with communism is its impossible to implement because human nature sucks and it games every state. So, hence why communism begat socialism which begat euro social democracy which is what Michelle and Barack adhere to. European social democracy is rife with clubby public sector unions, slimey political class, some super corporate class and then the rest of us overpaying in taxes so the lazy can inherit the earth. 

Wed, 04/23/2014 - 17:50 | 4688182 dogbreath
dogbreath's picture

Oprah reccomends Karl Marx???

Wed, 04/23/2014 - 19:09 | 4688403 nmewn
nmewn's picture

They all do, in their occasional spasms of guilt and deflecting, resulting in a brand new foundation for the blind or the starving or the always popular educating/indoctrination of the yutes (foundations to hide their wealth in, natch) or promoting some charity or gala for the homeless, starving, disenfranchised etc. (to write off on their taxes).

The idiot proles eat that shit up, "They really care!!!"...lol.

The socialist oligarchs (now relieved of some perfunctory duty to themselves) of course, go shopping.

Thu, 04/24/2014 - 04:55 | 4689532 tonyw
tonyw's picture

All ruling systems are  "oligarchical set up-or totalitarianism"

They all have their clique of rulers and the remainder who are kept distracted by bread and circuses.

Always has been and always will be.

Wed, 04/23/2014 - 18:04 | 4688215 Raging Debate
Raging Debate's picture

Even simpler - Communism is what happens after corporation and governments merge to rob you call Fascism. Communism is what happens when those Fascists force those of the tiny remaining money to pay for the other guy to build you a road without bumps so the rulers get a smooth ride either way while you, the guy trying to innovate and add value eat shit and be called a criminal for protesting. "Doth thou protest too much"? Then go break rocks instead of continued funding the robbery... Oh yeah, 1/3 of the useless eater government gets cut in communism because there isn't enough graft left to go around. Who gets cut depends on how much dick you sucked above you. Have a nice day :)

Wed, 04/23/2014 - 17:59 | 4688216 Raging Debate
Raging Debate's picture

dupe

Wed, 04/23/2014 - 18:46 | 4688339 falconflight
falconflight's picture

Yeah, the DemPervs and Repubics simply believe their respective parties can more effectively implement socialism.  Their only value is as cattle feed.

Thu, 04/24/2014 - 04:16 | 4689513 nixy
nixy's picture

Nothing wrong with the lazy...... just as they (we) don't expect someone else to pay.

In fact .....IMHO...... that's half the trouble with the world.....not enough lazy paople. No-one should work (for money) for more than 10 hours a week.

Wed, 04/23/2014 - 22:41 | 4689098 Zombie_Economics
Zombie_Economics's picture

Das Kapital was written by a German.  So many think Karl Marx was Russian, he certainly was not.  Karl Marx was German.  Not that this should make much difference since his ideas of communism proved to be an utter failure either way.  Just thought I'd drop the correction there since you'll be reading German, not Russian.

 

As for the current trend of communism making a comeback, this time around I am quite certain that it will fail before fully implemented.  When they play the socialist game, they tend to make small, incremental moves toward their collectivist utopian nightmare of the walking deadbeats with great success. This is because the retarded public rarely spots the move made like a subtle hand-job unter dem tische from your bosses wife while formally dining at his home.  Once they go full commie, you can rest assured they will be met with great resistance and violence like when the boss catches you boning his wife in the walk-in closet and his .45 is within reach.

 

One last note I remember from an old lecture I read more than a decade ago.  "A communist is nothing more than a socialist with a gun, and in a hurry.  A socialist is a communist that knows what he's doing."  So you see, once they play the commie card, the war starts.  This time, especially in America, we won't just lay down and let it happen.  You'll know when the time comes to chose your course of action.  Don't be a fucking coward on that day.

Wed, 04/23/2014 - 23:03 | 4689145 sleigher
sleigher's picture

My good man, that day has arrived and is staring all of us in the face.

Thu, 04/24/2014 - 05:07 | 4689536 tonyw
tonyw's picture

Don't be distracted by the old communist vs fascism, democrat vs republicans, us vs them foreigners ... propoganda crap.

I have widely travelled the globe and most people are very similar, they want a reasonable living and better chances for their family.

They don't want wars but can be swayed by constant one sided reporting in the MSM.

If that better chance is offered by being on welfare some people will take that option.

All ruling systems are  "oligarchical set up-or totalitarianism".

They all have their clique of rulers and the remainder of the people who are kept distracted by bread and circuses.

In the US the MIC funds politicians and provides a revolving door for future jobs so they effectively write the laws which of course benefit them and prevent competition.

For example, big ag makes it difficult for small farmers to sell direct.

In some places it is illegal to collect your own rainwater ......

 

Wed, 04/23/2014 - 17:02 | 4687991 Chuck Walla
Chuck Walla's picture

It only stands to reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master.

 

~ Ayn Rand

FORWARD SOVIET!
Wed, 04/23/2014 - 17:29 | 4688095 AnAnonymous
AnAnonymous's picture

Communism needs a permanent class of people to steal wealth to redistribute.

________________________________________________

It shared that point with 'americanism', even though 'americanism' predated communism by nearly some decades.

On the flipside, communism is no longer, 'americanism' still is and is the dominant global system by far.

Problem is that indians are gotten scarce these days and nobody seems eager of volunteering to fill the part.

Wed, 04/23/2014 - 19:51 | 4688531 falconflight
falconflight's picture

Communism no longer out there?  I bet to differ.  Venezuela is rapidly transitioning, Cuba is still more than not, North Korea, oh China w/ a dash of free enterprise absolutely controlled by the state.  There are others....

 

Wed, 04/23/2014 - 21:53 | 4688935 centerline
centerline's picture

Don't feed the one trick pony.  He is just reading from script.

Wed, 04/23/2014 - 22:31 | 4689069 Joenobody12
Joenobody12's picture

Communism in China ? Where the fxxk have you been ? Try facism. Try mafia state. 

Thu, 04/24/2014 - 07:40 | 4689795 AnAnonymous
AnAnonymous's picture

'Americans' playing the last resort card...

Apart from China, that is not communist by the way, who else is able to be a game changer?

'Americans' are ready to hide behind anything: it would be enough that one day, the only person on Earth to claim to be a communism is a that guy who is about to die in one second.

'Americans' will come and state that communism still is.

Wed, 04/23/2014 - 20:11 | 4688592 Matt
Matt's picture

You may be on the right track. You know what else happened around 1971, besides going off the gold standard? Take a look at American oil production:

http://img186.imageshack.us/img186/6025/mcrfpus2a.jpg

and oil imports:

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMUS1&f=M

Without slaves, coal or oil to do all the hard work, someone has to do it.

Wed, 04/23/2014 - 19:07 | 4688394 prains
prains's picture

Juggs

 

all the "isms" are just a letter j away from being a stain. They're all just words and ideas, the real practice of ism is Oligarchism. Millenia of practice in method, means they don't even have to bother with any of the other isms... they're all totally useless in the face of well practiced Oligarchism

Wed, 04/23/2014 - 17:09 | 4688016 PT
PT's picture

I think communists are pretty "good" at extracting from each according to their abilities.  It is bit about distribution "to each according to his needs" that gets fucked up.

The problem with capitalism is that, for the lucky few, there comes a point where there is no longer any competition to keep them honest.  "Doesn't matter, because then they'll get over-priced, fat and lazy and a lean, mean competitor will replace them."  Well, I guess that is more peaceful than a revolution, but it seems to be taking its time.

Wed, 04/23/2014 - 18:44 | 4688333 falconflight
falconflight's picture

The free enterprise system created the most fruitful, invention booming era in human history.  Liberty means some will opt or not opt to be at the first rung of the ladder their whole life.  Nothing is perfect.

Fri, 04/25/2014 - 05:18 | 4694206 PT
PT's picture

and for some reason it could not sustain itself.

Wed, 04/23/2014 - 16:05 | 4687775 AchtungAffen
AchtungAffen's picture

Start by learning what communism really is mate.

Wed, 04/23/2014 - 16:54 | 4687938 hobopants
hobopants's picture

Marx was a man who never stepped foot in a factory, never held a job, never paid his debts to Engels or his family (and then had a hissy fit when they wouldn't lend anymore to him). He was also grotesquely fat, abandoned an illegitamate child, and put his bad habits before the well being of his family. In short, the man was a repuslive loser.

If you want to understand communism look no further than the character of the man who developed it. I wouldn't purchase a diet book written by a fat guy, and I sure as hell wouldn't buy into any economic theory written by this clown.

Oh and even he realized that a capatalist free market was a necessary "evil" within the grander "Marxist" dialectic. 

Wed, 04/23/2014 - 17:06 | 4688008 Chuck Walla
Chuck Walla's picture

Nonetheless, the Theory of Surplus Value is the explanation of Capitalism. For that,he should be commended, for the rest, some totalitarian somewhere would have hit on the formula to take control of the lives of others with a pretty sounding theory and a bloody and violent reality.

 

FORWARD SOVIET!

Wed, 04/23/2014 - 18:10 | 4688227 hobopants
hobopants's picture

I never got the big deal about that either...Surplus value is expressed as the value created by the productivity of the worker in excess of his wage right? That is the economic equivalent of saying the sky is blue. You could have asked any factory owner at the time and they could have told you the same thing.

Wed, 04/23/2014 - 21:30 | 4688864 disabledvet
disabledvet's picture

sounds simple enough doesn't it?

yet ironically in this "growth recession" what no one can explain (save Karl Marx) is "where is the huge rise in inventories?" as this is a growth driver.

Karl Marx...who "veered" in a lot of directions...would in my view notice this immediately as a problem and diagnose this problem with the solution of "inventory promotion."

Ronald Reagan was one of the greatest masters of this "trade" ("get Government off the backs of the people") and business went about the business of creating massive amounts of surplus production.

This did result in the Savings and Loan debacle...but that pales in comparison to 2008...when there was little to ZERO surplus production going on...and which is still true today..."until now."

And this in my view is Marx's genius...his analysis of how Great Britain dealt with this problem in a vastly superior way to Continental Europe is absolutely critical to understanding not just economics...but its intersection with polity and "empire."

The Scottish invented the theories that surrounded the introduction of technology to a society. This caused total social mayhem on the Continent...but not Great Britain.

Karl Marx is your starting point for the study of said reasons. In effect however one would have to study the history of the British Empire however to truly begin to understand the complexities of "surplus production" and its malcontents.

Wed, 04/23/2014 - 21:40 | 4688894 NidStyles
NidStyles's picture

You are an economic neanderthal, and I do believe I have schooled you before. I wouldn't take economic thought from you just like I would not take dieting advice from Marx. ;-)

Thu, 04/24/2014 - 00:42 | 4689317 SAT 800
SAT 800's picture

Hobopants is right. It's the Theory of obviousness; the Theory of simple common sense; which leaves your hero, Marx where he belongs; in the trash can.

Wed, 04/23/2014 - 17:56 | 4688205 jimmytorpedo
jimmytorpedo's picture

Hobopants, 

  You speak truthily.

  You should include a link to Stefan Molyneux's stuff when you quote him.

http://www.youtube.com/watch?v=yA2lCBJu2Gg

Wed, 04/23/2014 - 18:36 | 4688261 hobopants
hobopants's picture

You sound like one of my professors! I just kinda figured the video was common knowledge around this place, but you're probably right I shouldn't assume. Credit where Credit is do and all that.

Wed, 04/23/2014 - 18:35 | 4688317 AchtungAffen
AchtungAffen's picture

One thing is the man, another the ideas. And not just that one idea but its progress in time too.

Wed, 04/23/2014 - 18:39 | 4688319 hobopants
hobopants's picture

The two are not mutually exclusive. Your experience and character inform your ideas.

Thu, 04/24/2014 - 09:18 | 4690169 AchtungAffen
AchtungAffen's picture

Kinda. "Hate the sin, no thte sinner" one would have to say.How many great ideas and inventions were the product of despicable individuals?

Fri, 04/25/2014 - 00:04 | 4693881 hobopants
hobopants's picture

I'm not sure, I usually like to look at things on a case by case basis. Sloganism is dangerous because it paints with too broad of a brush. Each situation is unique and should be approached as such. If you attempt to look at a problem through the lens of "evil minds, great ideas" and "hate the sin, not the sinner" you are creating bias and narrowing your perspective from the start. It's hard not to let certain sayings become axiomatic, but if you train yourself to break the habit it will remove many limits on your understanding.

 

 

Wed, 04/23/2014 - 20:15 | 4688599 Raging Debate
Raging Debate's picture

Achtung - Your writing seems more and more like gibberish every time I see it.

Thu, 04/24/2014 - 09:17 | 4690157 AchtungAffen
AchtungAffen's picture

Are there any reasons or arguments behind that affirmation? Or just empty attacks?

Wed, 04/23/2014 - 22:36 | 4689085 Joenobody12
Joenobody12's picture

The fxxker did not invent communism. That was the thought of the day in his era. He merely verbalize the collective thought of his time louder than others.

Thu, 04/24/2014 - 00:46 | 4689324 SAT 800
SAT 800's picture

Somebody had to say it; you saved me the trouble. This is the same reason I'm not interested in Descarte's "Philosophy".

Wed, 04/23/2014 - 19:03 | 4688386 Dr. Destructo
Dr. Destructo's picture

I think we know what socialism and communism truly is "mate": It's something that stands against everything you have ever loved and believed in, and it will do everything humanly possible (if communists can truly be regarded as human) to sap and impurify your precious bodily fluids.

 

Thu, 04/24/2014 - 09:20 | 4690181 AchtungAffen
AchtungAffen's picture

Nah, that's just a lifelong of propaganda speaking. To truly know what they really are you have to leave behind those "childhood things", or prejudices, and start from the basics.

Thu, 04/24/2014 - 11:47 | 4690844 midtowng
midtowng's picture

Learning what words like "communism" mean is one thing that these libertarians will never do. They are interesting in bashing things that they can't correctly define.

Wed, 04/23/2014 - 16:14 | 4687818 Icewater Enema
Icewater Enema's picture

Not to dissuade you, Juggernaut, but you just did a pretty good job right there. The problem isn't really income inequality but wealth inequality. Distributed wealth is uncontrolled/uncontrollable wealth, which is to say that the owners can do what they want with their assets. So many more bets are made by investors and new ventures are funded and produce that whole creative distruction thing. The oposite, I suppose, is feudalism, where only a handful hoard everything of value (and that includes corporations as well as individuals). Or some socialist workers paradise where five guys in a room try to set the price for everything. Either way there is no payoff for risk or effort so everyone just sits in the park and drinks vodka all day.

Wed, 04/23/2014 - 20:09 | 4688585 Matt
Matt's picture

Fuedalism is political anti-fragility in action. Someone is always going to try to kill you and take what you have. It is the perpetual revolution. The pay-off for risk is that you might make it into the nobility.

Also, you could live in a town and be a burgher, but even then people formed cartels to control price and supply of goods and services. 

Wed, 04/23/2014 - 17:30 | 4688097 hot sauce technician
hot sauce technician's picture

I love mises.org.

Wed, 04/23/2014 - 17:47 | 4688174 PT
PT's picture

Have they worked out how to use a supply / demand curve yet?  Do they understand enough maths to realize that a percent increase in a fraction ends up in a lower percent increase of the whole?  Go there as much as you like.  Read as much as you  like.  But sooner or later, preferably sooner, please back off, use your own brain, and question how things work in the real world.

Wed, 04/23/2014 - 18:13 | 4688260 BigJim
BigJim's picture

Well, I'm all ears! Please do tell us how things 'work' in the 'real world'.

Wed, 04/23/2014 - 20:26 | 4688619 hobopants
hobopants's picture

The problem lies not in the math but in the premise. You can be a brilliant mathematician, but if you are too stupid to realize that your models are crap what good does it do? Modern economic theory is the perfect example of this.

Wed, 04/23/2014 - 23:14 | 4689181 sleigher
sleigher's picture

Just reading that link and had a thought.  I am no economic guy that's for sure.  But, why is economic theory left to those who theorize?  Or the intellectuals as it states.

Is there truth in the whole those who can do, those who can't teach?  Why aren't those who can theorizing on the solutions?  Maybe they are and no one listens.  I am just asking.  No really.  Don't laugh.

Thu, 04/24/2014 - 02:54 | 4689445 Cthonic
Cthonic's picture

It's a very good question.  (Macro) economics unfortunately is closer to a practice of propaganda than it is to an empirical science.  Who hires 'economists'?  Who can afford them? Governments, central banks, international banks, and other statist institutions.  The agenda of the [state] economist is to voice the intellectual trappings that rationalize and or legitimize the systematic repression or even pillage of a people (or class/caste thereof) by its own establishment.  Ancient slavery and thraldom slowly gave way to serfdom and corvée labor by the middle ages which evolved into indentured servitude and other forms of unfree labor, such as our 'income' tax.  As labor becomes increasingly specialized, in times of economic duress, it is easier for leaders to play one sector off upon another as a distraction from underlying systemic issues.  Economists provide the statesmen with the crooked statistics they wave in everyone's faces as 'proof' their policies are good, just, or at least tolerable.

Wed, 04/23/2014 - 17:00 | 4687978 Notsobadwlad
Notsobadwlad's picture

In OUR form of modern day capitalism wealth does NOT move freely at all. Entrepeneurism is punished by those who create and distribute money. The little guys are squeezed out by the banks and big guys and are forced to close or sell out to the larger freely capitlized big guys.

The big guys create monoplies by purchasing laws, regulations, favors that eliminate free market dynamics.

It is not government, per se. The government only does what they are paid to do by those who create and distribute money.

Wed, 04/23/2014 - 17:49 | 4688179 PT
PT's picture

The top capitalists bought the government.

Wed, 04/23/2014 - 18:40 | 4688324 falconflight
falconflight's picture

Well maybe it was the politician who sought ill gotten enrichment.

Wed, 04/23/2014 - 19:46 | 4688519 Oldwood
Oldwood's picture

Whom to blame,

the hooker or

the john.

Business is in business to win, to make money. Some may not like it or think it evil, but it is what it has always been.

Politicians, those who we elect to represent us, are supposed to do exactly that. When they become corrupted for money or power they have broken their trust, their contract, their oath of office with us. We must hold them to a higher standard than private business people or anyone else, or no government, no public trust organization of any kind has a chance in hell of surviving. They cannot be excused for the evil they do simply because they were tempted. They sought the position of responsibility, they were not drafted. They are lying sacks of shit and should be dealt with as such.

Wed, 04/23/2014 - 20:23 | 4688622 Raging Debate
Raging Debate's picture

Oldwood - One of the best comments I have seen in awhile and there have been some great ones. Also, I have seen others say Fascism and Communism are the two side of the same coin. I only posit that after the big looting and there is little left the politicians and bankers will still force (for awhile anyway) one with almost no wealth left from the looting to pave roads that don't have bumps to drive on. As for that little guy, after
communism he can't afford to drive on that road.

Wed, 04/23/2014 - 21:41 | 4688901 disabledvet
disabledvet's picture

I would argue if your "bought and paid for politician" decides "let's go to war with Russia" he has not been properly incentivized.

It does clear out the detritus however.

Plus you get Generals dreaming of their ten million acre spread.

Ahhhhhh..."Old America."

http://en.wikipedia.org/wiki/James_K._Polk
"least known consequential President."

Only George H.W. Bush ranks as high while having served only one term.

In fact George H. W. Bush is probably the most consequential single term President in history. "Not for lack of trying for a second term" however.

Maybe the next Presidential candidate can promise to only serve one term. That might help voter turnout. They certainly voted back then....ironically even though many were denied the vote. "Now everyone can vote but no one does." Hmmm. Wonder why that is.

Wed, 04/23/2014 - 18:12 | 4688255 artless
artless's picture

"In OUR form of modern day capitalism..."

That's because we do not have nor have not had a cpitalist system in the modern era. Ever.

The word is fascism. If there is a specific ecomomic term then something like coporatism works but it is all sematics.

The United States is, has beem, amd most likely will be in the foreseeable future a fascist police state, imperialist empire, that masquerades as some beacon of free men and free markets when in truth it is nothing of the sort. If through the false god of democracy 50.000000000001% of just the VOTING population can mahe it legal to infirnge on the individual's natural law rights to liberty and property, then the term captialism ceases to apply. It's kinda like being pregnant. You either are or you aren't.

Until all the fucking idiots who talk aboit "how the real world works" and such get it through the thick fucking skulls exactly what capitalism is and is not, then we are merely pissing in the wind.

Your analyzation is correct except for the part about is being government, "per se" or not. It actually IS the government. It is real live human beings that without the vehicle of goevernment would just be a bun ch os psychopath, parasites commiting pettiy crime instead of the large scale socially damaging acts of "the crimial gang writ large"

These people are you friends, neighbors, former classmates, and strangers you pass in the streets. Utils the are whole sale SHUNNED from society, stripped of all their wealth and power and forced to actually earn a living of their own labor, NOTHING WILL CHANGE.

And that goes for ANY person who receives a check from .gov. You are nothing more than part of the problem and nothing more than a fucking parasite.

Capitalism does not allow for ANY of that.

Wed, 04/23/2014 - 17:01 | 4687989 lasvegaspersona
lasvegaspersona's picture

Jugg

Fofoa debunked Marx 4 years ago, haven't seen a better debunking since I fell out of a top one as a kid.

http://fofoa.blogspot.com/2010/07/debtors-and-savers.html

Wed, 04/23/2014 - 17:04 | 4688002 DoChenRollingBearing
DoChenRollingBearing's picture

+ $55,000

Or is that $100,000 now?

Wed, 04/23/2014 - 23:20 | 4689194 Tegrat
Tegrat's picture

Debtors war on Savers according to fofoa was more like the French Revolution. Marie Antoinette coined the term "Let them eat cake" before they beheaded her. 1789 was a good year. Debtors killed the savors and look at France today. A commie, earth worshipping, diverisity demising country. Mitterand would be proud.

 

Wed, 04/23/2014 - 17:12 | 4688027 warish
warish's picture

One sentance, We are more equal than you.

 

Wed, 04/23/2014 - 21:46 | 4688910 disabledvet
disabledvet's picture

"screw you Great Game. We want Russia itself!"

http://www.youtube.com/watch?v=8QJiAK-s5a0

"I don't want a piece of you. I WANT THE WHOLE THING!"

Thu, 04/24/2014 - 04:46 | 4689528 Wahooo
Wahooo's picture

Of course, government and financiers - betrothed in hell fires in 1971 - needed fiat to rob the rest of the world. As long as there is fiat, you can truly own nothing.

Wed, 04/23/2014 - 17:17 | 4688047 hangemhigh77
hangemhigh77's picture

Soon they'll be writing books about O'Bammy and his reign of terror.

Wed, 04/23/2014 - 18:37 | 4688320 falconflight
falconflight's picture

And you think that the Red Russians behaved differently than Mao?

Wed, 04/23/2014 - 19:42 | 4688502 Lord Koos
Lord Koos's picture

So will the CIA and American cops.

Wed, 04/23/2014 - 16:24 | 4687745 barliman
barliman's picture

 

Don't worry ... things will get MUCH worse before they get better.

AFTER the global economic collapse, MERS, regional warfare and the Middle East Preemptive Nuclear War ...

... it will be a mere 150 years TOPS before your part of the world moves into a stable, feudal-based equilibrium.

Feudal lords have a very practical manner of containing communism - KILL EVERYBODY who promotes it or hears about it.

It worked for over a 1,500 years the first time around ...

Thu, 04/24/2014 - 11:34 | 4690783 Cursive
Cursive's picture

@Devotional

You think it's just Portugal?  It's the same the world over.  I live in a backwater in Louisiana and the local government has proposed a property tax increase to fund "recreational" and "quality of life" programs.  Is recreation or quality of life really any concern of the state?  Nevermind that the tax and our local government's ineptitude will not improve either recreation or quality of life, but my cost of "owning" my home was just increased.

Wed, 04/23/2014 - 17:02 | 4687996 DoChenRollingBearing
DoChenRollingBearing's picture

 

 

AlaricBalth

Restaurants for you in Lima (in case you missed my reply the other day):

-- La Rosa Nautica (seafood, nice view of the Pacific)

-- Astrid y Gaston (Creole, "Peruvian food")

-- Brujas de Cachiche (Creole, "Peruvian food")

All three are in a nice part of the city, and are somewhat expensive.

Wed, 04/23/2014 - 19:27 | 4688451 AlaricBalth
AlaricBalth's picture

Thank you DoChen. I look forward to trying at least one of those.
All the best amigo.

Wed, 04/23/2014 - 15:43 | 4687681 Soul Glow
Soul Glow's picture

The weather is great in California where prices are high and taxes are higher!

Wed, 04/23/2014 - 15:50 | 4687711 mbutler101
mbutler101's picture

I think they call it 'Chiraq' now...

Wed, 04/23/2014 - 21:04 | 4688764 williambanzai7
williambanzai7's picture

Actually he works for the Bureau of Labor Statistics

Wed, 04/23/2014 - 15:38 | 4687644 sushi
sushi's picture

Where in Brooklyn do you live?

 

 

Wed, 04/23/2014 - 15:40 | 4687659 maskone909
maskone909's picture

lol  ^^ +12312314

Wed, 04/23/2014 - 15:41 | 4687665 Devotional
Devotional's picture

Portugal, south of Lisbon. Seriously, check this out:

https://www.google.pt/search?q=comunismo+em+setubal&source=lnms&tbm=isch...

I see this every fucking single day all over town!!!!!!!!!!!!!

Wed, 04/23/2014 - 15:42 | 4687674 centerline
centerline's picture

But the people in that painting look so happy and care free!

Wed, 04/23/2014 - 16:06 | 4687783 Leaping Lizard
Leaping Lizard's picture

Just like the people in the Denver Airport Murals.

http://thechive.com/2012/03/08/something-is-rotten-in-the-denver-airport...

 

Thu, 04/24/2014 - 02:36 | 4689435 matrix2012
matrix2012's picture

Here are more refs about the Denver International Airport

 

"Twenty years and beyond not a single American could have comprehended that in the middle of the heartland where the Great Plains meet the Rocky Mountains, the Pale Horse of Death awaits your arrival. Even today, a large majority of Americans refuse to allow their thinking abilities to ascertain, and question, why a diabolical looking horse with vines and red glowing eyes greets all visitors at The Denver International Airport?"

 

The DENVER INTERNATIONAL AIRPORT (DIA), THE USA'S LARGEST AIRPORT had caught my attention in the past because it's absolutely diabolical and dreadful... they're so confident, quite obvious it's an open display!!!

Denver International Airport (DIA) is the home to a large DUMB (Deep Underground Military Base).

 

Denver New World Airport 32 Foot Statue of the Horse of the Apocalypse

http://rabbithole2.com/presentation/denver_airport/denver_airport_horse_...

 

Sinister Sites - The Denver International Airport

http://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_denver05.htm

 

Something is rotten in the Denver airport (13 Photos) « Black Bag Conspiracy

http://blackbagconspiracy.wordpress.com/2012/03/09/something-is-rotten-i...

 

Denver Airport | AlternativeReality.org

http://www.alternativereality.org/denver-airport

 

Denver International Airport | New World Order | The Pale Horse Revelation

http://adventofdeception.com/denver-international-airport-new-world-order

 

Denver Airport Conspiracy Theory: A Documentary (part 1)

http://www.youtube.com/watch?v=JjjIy1DO0gs&feature=related

 

Denver Airport Conspiracy Theory: A Documentary (part 2)

http://www.youtube.com/watch?v=3ov6l4JX5GI&feature=related

 

Secret Alex Christopher photos from beneath Denver International Airport | The DIA Conspiracy Files

http://diaconspiracyfiles.com/2009/10/30/secret-alex-christopher-photos-...

Thu, 04/24/2014 - 02:48 | 4689441 matrix2012
matrix2012's picture

WHILE on this topic, miss not the decades earlier monument in Elbert County, Georgia, famously known as the Georgia Guidestones.

 

GEORGIA GUIDESTONES

 

Coordinates: 34.231984°N 82.894506°W

Location: Elbert County, Georgia, USA

Height: 19' 3" (5.87 m)

Opening date: March 1980

 

The Georgia Guidestones is a granite monument in Elbert County, Georgia, USA. A message clearly conveying a set of ten guidelines is inscribed on the structure in eight modern languages, and a shorter message is inscribed at the top of the structure in four ancient languages' scripts: Babylonian, Classical Greek, Sanskrit and Egyptian hieroglyphs.

The structure is sometimes referred to as an "American Stonehenge."[1] The monument is 19 feet 3 inches (5.87 m) tall, made from six granite slabs weighing 237,746 pounds (107,840 kg) in all.[2] One slab stands in the center, with four arranged around it. A capstone lies on top of the five slabs, which are astronomically aligned. An additional stone tablet, which is set in the ground a short distance to the west of the structure, provides some notes on the history and purpose of the Guidestones.

In June 1979, an unknown person or persons under the pseudonym R. C. Christian hired Elberton Granite Finishing Company to build the structure.

A message consisting of a set of ten guidelines or principles is engraved on the Georgia Guidestones in eight different languages, one language on each face of the four large upright stones (see photograph of the face with the English version right). Moving clockwise around the structure from due north, these languages are: English, Spanish, Swahili, Hindi, Hebrew, Arabic, Chinese and Russian.

 

* Maintain humanity under 500,000,000 in perpetual balance with nature.

* Guide reproduction wisely — improving fitness and diversity.

* Unite humanity with a living new language.

* Rule passion — faith — tradition — and all things with tempered reason.

* Protect people and nations with fair laws and just courts.

* Let all nations rule internally resolving external disputes in a world court.

* Avoid petty laws and useless officials.

* Balance personal rights with social duties.

* Prize truth — beauty — love — seeking harmony with the infinite.

* Be not a cancer on the earth — Leave room for nature — Leave room for nature.

Read more at "Carved in Stone: “Maintain Humanity Under 500,000,000?..." And here and here too.
Wed, 04/23/2014 - 15:55 | 4687736 Pickleton
Pickleton's picture

I would so graffiti that bull shit every damned night.

Wed, 04/23/2014 - 16:09 | 4687796 gafgroocK
gafgroocK's picture

 

 

I'd chip in on helping you with the spray paint costs

Wed, 04/23/2014 - 17:27 | 4688085 Pickleton
Pickleton's picture

lol.  Anyone wanna spring for a plane ticket?  I'll fly over (and I HATE flying) and totally tag that shit with "ZERO HEDGE WAS HERE!!"

 

 

Wed, 04/23/2014 - 17:12 | 4688023 Chuck Walla
Chuck Walla's picture

The commies never understand they will kill the host as parasites usually do. Lenin did as did Stalin, Mao, Fidel, Ho and Hugo. The host withered and the people suffered as they could not support the continued wholesale looting by the elite. Now, the Progressives think this is their moment.

 

FORWARD SOVIET!

Wed, 04/23/2014 - 17:33 | 4688111 hot sauce technician
hot sauce technician's picture

What's up with the locals there? Is there like zero production there? No economic activity?

Wed, 04/23/2014 - 17:26 | 4688082 drendebe10
drendebe10's picture

An economics professor at Texas Tech said he had never failed a single student before but had, once, failed an entire class. The class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer. The professor then said ok, we will have an experiment in this class on socialism.

All grades would be averaged and everyone would receive the same grade so no one would fail and no one would receive an A.  After the first test the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy.  But, as the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too; so they studied little..  The second Test average was a D!  No one was happy.  When the 3rd test rolled around the average was an F.

The scores never increased as bickering, blame, name calling all resulted in hard feelings and no one would study for anyone else.  All failed to their great surprise and the professor told them that socialism would ultimately fail because the harder to succeed the greater the reward but when a government takes all the reward away; no one will try or succeed.

Wed, 04/23/2014 - 17:55 | 4688196 Canuckistan Al
Canuckistan Al's picture

we dumb humans seem to love our chains don't we?

Thu, 04/24/2014 - 04:26 | 4689519 45Condor
45Condor's picture

 

Yuck… the pain and horror of wading through Marx and Engels whilst in school brings back painful memories.

The long nights of sifting through demanding tome in order to find that one sentence that the teacher alluded to. The realization that Manchester hasn’t changed that much since Engels and Marx first noted what a shithole it is in certain places. The extra mark to be found in stating that the working-class will never rebel - now that Orwell’s fear of the control that television has over the minions has come to pass.

Hey, Tyler, when are you going to give us plebeians the opportunity to plug our own Amazon-available works on ZH? (In the name of individual free enterprise and equal access to public exposure... or similar such crap.)

Yours,

Damon Cockcroft (Author of For Pip’s Sake!)

 

Wed, 04/23/2014 - 15:36 | 4687635 Joe A
Joe A's picture

Didn't Marx say that capitalism should run its full course and that after that it will collapse and communism will rule the world?

Wed, 04/23/2014 - 15:39 | 4687649 Devotional
Devotional's picture

Karl Marx did not work a day in his life. Seriosuly, this dude did NOT work, EVER. Also, this SOB let 4 of his 7 children die of starvation as he REFUSED to work. This is fact, fact!!! These commies still follow this sick SOB!!!!

Seriously???

o_O

I wake up to commies every day!!!! Every day FFS!!!!!!!!

Wed, 04/23/2014 - 15:41 | 4687667 McMolotov
McMolotov's picture

The guy did have a wicked beard, though.

Wed, 04/23/2014 - 15:43 | 4687677 centerline
centerline's picture

And duck dynasty is cool.  So....

Wed, 04/23/2014 - 15:47 | 4687699 McMolotov
McMolotov's picture

Those are capitalist running dog beards.

Wed, 04/23/2014 - 20:39 | 4688680 drendebe10
drendebe10's picture

Is that his picture on a box of cough drops?

Wed, 04/23/2014 - 15:45 | 4687688 THX 1178
THX 1178's picture

Well, he did produce a great many analyses. Does that not count? Would it be better if he had gotten a job on wall Street? Hate for Marx is severely misguided... he described the situation as it was, not as it should be...and a bunch of dictators abused his ideas... and we still have yet to see if this fully-automated mode of production emerges... which it looks certain to.

Wed, 04/23/2014 - 15:54 | 4687716 NotApplicable
NotApplicable's picture

Marx was every bit as incoherent as ALL of the Keynesians who followed in his footsteps.

Incoherence which was clearly displayed all the way back in 1896 by Eugen von Bohm Bawerk.

https://mises.org/document/996/Karl-Marx-and-the-Close-of-His-System

Marx was so incoherent, he couldn't write his promised "final book" bringing all of the parts into a whole, because his theory of value was contradictory.

When one makes analyses using flawed premises, there is simply no greatness to be had.

Wed, 04/23/2014 - 16:20 | 4687840 THX 1178
THX 1178's picture

Yes the austrians, I'm very familiar with them... but they have nothing to say about technological unemployment and the coming fully automated mode of production. The MArxists have nothing to say about value subjectivity. Neither The Marxists or the Austrians have the whole picture. Not Even Von Mises. Marx is definitely not incoherent. The keynesians are not incoherent, but the idea that money can and should be printed and pumped into the economy is ethically questionable to the austrians. The whole x vs. y thing aside, incomprehensible is not the right word to use.

Wed, 04/23/2014 - 16:26 | 4687858 Zerozen
Zerozen's picture

The printing and pumping of money into the economy is ethically questionable to anyone with 2 brain cells to rub together and/or a basic working knowledge of the history of money and inflation.

Wed, 04/23/2014 - 16:49 | 4687936 McMolotov
McMolotov's picture

And don't forget basic working knowledge of human nature. When money is printed and pumped into the economy, "pumped into the economy" more often than not means "handed directly to a bunch of well-connected assholes."

Wed, 04/23/2014 - 18:44 | 4688335 Herd Redirectio...
Herd Redirection Committee's picture

It reminds me of the Kings, Chieftans, Khans, and Pharoahs of yesteryear who were buried with tremendous hoards of gold, silver, precious items.  Why did their compatriots bury all that wealth???  Well, in a local economy the result would be DEFLATIONARY.  Rather than trying to figure out how to 'split it equally', deflation does the trick basically on its own. 

But we could never have something that rewarded SAVING in our MODERN society...

Wed, 04/23/2014 - 20:49 | 4688717 Big Corked Boots
Big Corked Boots's picture

Of course, it's also possible that the wealth was buried because, if any of it got out to the taxpaying citizens, they would see what was going on. Then, the king's son, who was next in line to get the goodies, would have a whole lot of 'spainin to do...

Wed, 04/23/2014 - 21:17 | 4688822 Matt
Matt's picture

So you're saying, instead of stimulus or QE or subsidies, we should just bury a bunch of money in a pit?

http://www.theonion.com/video/in-the-know-should-the-government-stop-dum...

Wed, 04/23/2014 - 16:39 | 4687900 NotApplicable
NotApplicable's picture

Well, technological unemployment has NOTHING to do with capitalism, as capitalism is NOTHING more than an individual saving more than they consume and using this savings to invest into productive enterprise.

 

Wed, 04/23/2014 - 17:01 | 4687990 THX 1178
THX 1178's picture

I didnt say capitalism i said austrianism.

Wed, 04/23/2014 - 20:30 | 4688647 Oldwood
Oldwood's picture

I don't understand how technology can create chronic unemployment if those unemployed cannot purchase the product of this technology. Long term unemployment can only happen if people are prevented from working due to minimum wage laws. Our system is subsidizing unemployment and therefor contributing to it. Technology should make things cost less allowing people to live on less money. The only way this can go wrong is for corrupt centrally controlled economy to MAKE it go wrong.

Wed, 04/23/2014 - 21:19 | 4688828 Matt
Matt's picture

Well, they won't be unemployed, they will be subsistence farmers or raiders. 

Wed, 04/23/2014 - 15:55 | 4687733 Keyser
Keyser's picture

Do a bit of research on who Marx's mentors were and it will become clear.... 

Wed, 04/23/2014 - 16:00 | 4687754 NotApplicable
NotApplicable's picture

Even clearer when I add the fact that Piketty's outlook is being promoted by at least one "historical economist" (i.e. "worthless professor") talking just yesterday at a Rotary Club luncheon.

The basis of the entire talk was the "fact" that it is capitalism that has produced all of this income equality.

You got to love it though when a professor from the History Dept. starts talking smack about economics.

Wed, 04/23/2014 - 21:31 | 4688870 Matt
Matt's picture

He's right, you know. If no one saved and invested, we'd all be equally rich.

Wed, 04/23/2014 - 15:51 | 4687713 Joe A
Joe A's picture

He is one of the most influential persons of recent history for sure. Whether you agree with him or not. I can't say that I do but I can imagine the circumstances of his time which led him to develop his philosophies.

Wed, 04/23/2014 - 16:00 | 4687756 Stoploss
Stoploss's picture

He was a lazy bastard who didn't want to work.

Great mystery solved.......

Wed, 04/23/2014 - 16:13 | 4687812 Grande Tetons
Grande Tetons's picture

Now, that was fucking funny. 

 

Wed, 04/23/2014 - 22:14 | 4689007 IridiumRebel
IridiumRebel's picture

I studied his dumbass. Here is an idea! HUMAN FUCKING NATURE GIVES US THIS SHIT CALLED DESIRE. Fucking dumbass does not take into the basic human longing for growth, acquisition, betterment....BECAUSE HE GOT WHATEVER THE FUCK HE WANTED. Fuck that douchebag. You know how many fucking people died from his "theory"? Jeebus Christmas, China alone was like 50-100 million. People were eating their own children to survive from his " theory". I hope he rots in Hell for eternity. 

Wed, 04/23/2014 - 17:52 | 4688185 robertocarlos
robertocarlos's picture

Dude, trhe Mother is responsible for making meals.

Wed, 04/23/2014 - 22:07 | 4688978 IridiumRebel
IridiumRebel's picture

"Born into a wealthy middle-class family in Trier in the Prussian Rhineland, Marx studied at the University of Bonn and the University of Berlin, where he became interested in the philosophical ideas of the Young Hegelians."

Yes! A rich fucking silver spoon, never worked a fucking day in his life eCONomist has it nailed down. Let's listen to a fuckin' dude who never worked about....WORK. 

You cannot make this shit up. Thanks for posting this. Nobody ever posts about how this POS never fucking worked a real job. What a fucking schmuck.

Wed, 04/23/2014 - 15:40 | 4687657 THX 1178
THX 1178's picture

Pretty much, he was not a communist himself, just an analyst/economist/philosopher... its the Lenins and Trotskys and Maos and Stalisn and so on that are the problem.

Wed, 04/23/2014 - 15:55 | 4687735 Joe A
Joe A's picture

The problem with communism (one of) is that it facilitates power hungry people to get full power. There is no room for desent or alternative opinions. At first during the revolution in Russia there were democratic committees everywhere, from factories to villages but Lenin did not want to have any of that so he centralized power. Some say with good intent but the demon was out of the box then.

 

Wed, 04/23/2014 - 17:45 | 4688165 AnAnonymous
AnAnonymous's picture

The problem with communism (one of) is that it facilitates power hungry people to get full power. There is no room for desent or alternative opinions.
------------------------------

And 'americanism' does not?

'Americanism' is what every power hungry person craves for.

No power hunger person wants communism these days, it is dead, it no longer exists. All want and desire 'americanism'.

'Americans' living in fantasies.

Thu, 04/24/2014 - 02:28 | 4689425 Ralph Spoilsport
Ralph Spoilsport's picture

Yes and China is a worker's paradise LOL ..... Now iron my shirt bitch!

Thu, 04/24/2014 - 07:58 | 4689859 AnAnonymous
AnAnonymous's picture

China is definitively a paradise for many 'americans' as it's helped 'americans' in increasing their consumption.

The workshop of the world, as wished by 'americans' in this 'american' world.

Should write down any comment that showed how explicitly fantastical the claim that racial slurring was a small tendency on this site.

Wed, 04/23/2014 - 15:41 | 4687666 cougar_w
cougar_w's picture

There's still time.

Wed, 04/23/2014 - 15:36 | 4687636 blabam
blabam's picture

Guy attacks capitalism while charging fucking $26.61 for a fucking "Kindle Edition"

Wed, 04/23/2014 - 15:45 | 4687691 agstacks
agstacks's picture

+1, great point..

Wed, 04/23/2014 - 15:49 | 4687709 khakuda
khakuda's picture

Time for one of us to upload it to a sharing site so all can have it for free.  It's only fair ;)

Wed, 04/23/2014 - 16:19 | 4687835 CuttingEdge
CuttingEdge's picture

Its already there - enjoy.

Wed, 04/23/2014 - 16:21 | 4687842 B.J. Worthy
B.J. Worthy's picture

The #1 rule of Leftism is that policies only apply to Someone Else.

See also: the travel habits of those who preach climate change.

Wed, 04/23/2014 - 16:14 | 4687813 Leaping Lizard
Leaping Lizard's picture

BLS is to include electrons in the consumer price index.

Do NOT follow this link or you will be banned from the site!