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The Chart That Scares The "1%" The Most
Capitalists have been gripped by 'systemic fear' making them worry not about the day-to-day movements of growth, employment, and profit, but about 'losing their grip'. An interesting recent article by the Real-World Economics Review on the Asymptotes of Power focuses on the fact that the capitalists are forced to realize that their system may not be eternal, and that it may not survive in its current form. The authors fear that, peering into the future, the '1%' realize that in order to maintain (or further increase) their distributional power (their net profit share of national income - which hovers at record highs) they will have to unleash even greater doses of social 'violence' on the lower classes. The high level of force already being applied makes them increasingly fearful of the backlash they are about to receive (think Europe to a lesser extent) and nowhere is this relationship between the wealthy capitalists and social upheaval more evident than in the incredible correlation between the Top 10% share of wealth and the percent of the labor force in prison. In order to have reached the peak level of power it currently enjoys, the ruling class has had to inflict growing threats, sabotage and pain on the underlying population.
During the 1930s and 1940s, this level proved to be the asymptote of capitalist power: it triggered a systemic crisis, the complete reordering of the U.S. political economy, and a sharp decline in capitalist power, as indicated by the large drop in inequality.
As we can see, since the 1940s this ratio has been tightly and positively correlated with the distributional power of the ruling class: the greater the power indicated by the income share of the top 10 per cent of the population, the larger the dose of violence proxied by the correctional population. Presently, the number of ‘corrected’ adults is equivalent to nearly 5 per cent of the U.S. labour force. This is the largest proportion in the world, as well as in the history of the United States.
Nowadays, the notions of systemic fear and systemic crisis are no longer farfetched.
In fact, they seem to have become commonplace. Public figures – from dominant capitalists and corporate executives, to Nobel laureates and finance ministers, to journalists and TV hosts – know to warn us that the ‘system is at risk’, and that if we fail to do something about it, we may face the ‘end of the world as we know it’.
There is, of course, much disagreement on why the system is at risk. The explanations span the full ideological spectrum – from the far right, to the liberal, to the Keynesian, to the far left. Some blame the crisis on too much government and over-regulation, while others say we don’t have enough of those things. There are those who speak of speculation and bubbles, while others point to faltering fundamentals. Some blame the excessive increase in debt, while others quote credit shortages and a seized-up financial system. There are those who single out weaknesses in particular sectors or countries, while others emphasize the role of global mismatches and imbalances. Some analysts see the root cause in insufficient demand, whereas others feel that demand is excessive. While for some the curse of our time is greedy capitalists, for others it is the entitlements of the underlying population. The list goes on.
But the disagreement is mostly on the surface. Stripped of their technical details and political inclinations, all existing explanations share two common foundations: (1) they all adhere to the two dualities of political economy: the duality of ‘politics vs. economics’ and the duality within economics of ‘real vs. nominal’; and (2) they all look backward, not forward.
As a consequence of these common foundations, all existing explanations, regardless of their orientation, seem to agree on the following three points:
- The essence of the current crisis is ‘economic’: politics certainly plays a role (good or bad, depending on the particular ideological viewpoint), but the root cause lies in the economy.
- The crisis is amplified by a mismatch between the ‘real’ and ‘nominal’ aspects of the economy: the real processes of production and consumption point in the negative direction, and these negative developments are further aggravated by the undue inflation and deflation of nominal financial bubbles whose unsynchronized expansion and contraction make a bad situation worse.
- The crisis is rooted in our past sins. For a long time now, we have allowed things to deteriorate: we’ve let the ‘real economy’ weaken, the ‘bubbles of finance’ inflate and the ‘distortions of politics’ pile up; in doing so, we have committed the cardinal sin of undermining the growth of the economy and the accumulation of capital; and since, according to the priests of economics, sinners must pay for their evil deeds, there is no way for us to escape the punishment we justly deserve – the systemic crisis.
Although there are no hard and fast rules here, it is doubtful that this massive punishment can be increased much further without highly destabilizing consequences. With the underlying magma visibly shifting, the shadow of the asymptote cannot be clearer.
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FYB!!!!
fuzzy yellow balls?
- oh, wait - I get it now....
Whoever junked me you try to live off of of Prime Cuts in Gravy. Fixed incomes and Keynesians don't go well together...
Whoever junked you probably doesn't get it. There seems to be two or three government trolls around tonight.
I hate it when people call facist crony oligarchs ... "capitalist"
Yeah me too. Whoever wrote this doesn't know what capitalism is.
the oligarchs who benefit also own the MSM
The reason that there is disagreement on why the system is at risk is because the sole underlying reason is deliberately obscured and overlooked.
That problem is FIAT MONEY.
The creature that is spawning this monstrosity cannot stand scrutiny.
Fiat money is based on lies, fraud, and government complicity, pure and simple.
We are continuing to reap the ever greater fruits of FIAT CURRENCYs miserable legacy.
Enjoy your ride to hell everyone....
The thing these "capitalists" (misnomer) fear the most is CAPITALISM - that is why they call themselves capitalists because they are really monsters, thieves, and rapists - NOT CAPITALISTS.
Sort of like Bush: "I've abandoned free market principles to save the free market system." ~ George Bush
Hey George, the free market wants to destroy this system, and YOU CAN'T STOP IT no matter what principles you abandon.
"I've abandoned free market principles to save the free market system." ~ George Bush
GW...came in as a social conservative and left as conservative socialist...lol.
Nicely put.
Three cheers for Iceland!!!
More Icelandic bankers arrested
http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/#ixzz1yHy5vbOa
+1
I <3 Iceland
@ flacon FYI, that article was published a year and a half ago.
We all know that won't happen here because the bankers OWN the politicians.
All we can hope for is that they learned their lesson (not likely).
OR
that Americans learned that BOTH parties in our two party system are greedy crooks and vote them ALL out (also, not likely).
The difference is Iceland has democracy.
I agree all round. The internal conflicts of capitalism inevitably generate wars.
90percent:
http://www.creditwritedowns.com/2011/01/reasoning-behind-ninety-percent-marginal-taxes.html
http://www.levyinstitute.org/pubs/wp_589.pdf
Wages of private sector workers compared to public sector (second graph down):
http://www.intellectualtakeout.org/library/chart-graph/historical-comparison-public-and-private-sector-compensation-levels
Corporate Taxes:
http://www.ritholtz.com/blog/2011/04/corporate-tax-rates-then-and-now/
http://economix.blogs.nytimes.com/2009/11/24/the-tax-burden-around-the-developed-world/
CEO Income:
http://www.washingtonpost.com/business/economy/cozy-relationships-and-peer-benchmarking-send-ceos-pay-soaring/2011/09/22/gIQAgq8NJL_story_2.html?sub=AR
On the charts below notice how extreme incomes and low cap gains tax coincides perfectly with 1929 and present day. (Similar to ZH graph)
Chart of top 1% income:
http://www.cbpp.org/cms/index.cfm?fa=archivePage&id=3-29-07inc.htm
Tax Rates:
http://www.ctj.org/pdf/regcg.pdf
http://www.wallstreetoasis.com/blog/90-marginal-tax-rate-explained
Also look here for other charts that has two peaks (1929 and today):
http://www.debtdeflation.com/blogs/2011/01/21/how-i-learnt-to-stop-worrying-and-love-the-bank/comment-page-1/#comments
http://www.smartmoney.com/invest/stocks/the-invisible-stock-bubble-1305647031991/?zone=intromessage
Income disparity:
http://www.cbpp.org/files/10-21-10inc.pdf
http://traderscrucible.com/2011/09/06/2354/
Income and Tax Rates:
http://visualecon.wpengine.netdna-cdn.com/wp-content/uploads/Income_Corp_CapitalGains_Rates.png
Republican Scam:
http://www.economicpolicyjournal.com/2011/04/budget-cuts-turn-out-to-be-total-scam.html
It started with Trickle Down justification of More for Me.
http://www.cbpp.org/files/7-31-08inc-testimony.pdf
Stop worshipping political idols! Vote Out All Incumbents! Last time it was Democrats. This time make it Republicans. (They resist tax increases for their rich buddies.)
Impose Term Limits! Let em know we are still out here and we mean business!
It’s time for the lying Republicans to go! Next time it will be the Democrats turn again!
Throw em out! Especially Bahynor and Pelosi!
Can I give Iceland a +1?
I'm not going to badmouth California much anymore. Not that I bad mouthed them much in the past.
Our brothers and sisters of liberty in California can gift to their com padres in flyover country the biggest win against big agra ever seen.
The upper management at Monsanto must be going crazy in their offices thinking of ways to defeat the California GMO initiative.
Fuck Monsanto!
California Puts Initiative To Label Genetically Modified Foods On November Ballothttp://thinkprogress.org/health/2012/06/19/498803/california-gmo-labeling/?mobile=nc
California Ballot Initiative Forcing GMO Labeling Could End Monsanto!_Dr.Joseph Mercola_
http://www.youtube.com/watch?v=y_oO8pSdVGI
Thank You California!
I have a skull where my head used to be and i vote.
Where is MORMON CHURCH money when you need it?
They should have funded this instead of hate.
When he started spewing that compassionate conservative crap I knew we were in trouble.
Yep. "Safety net" MY ASS! It's all just a freakin' scam. Yet I think George Bush believed he was doing "good" for the people. At least with Obama we know he's a mischevious little sneak.
mischievous little sneak doesn't do justice to obama's crimes imo.
a ten year old shoplifting candy who puts it in his little brother's pocket as the store manager closes in maybe qualifies.
the first president of the u.s. to go on record claiming the right to kill fellow citizens by executive order essentially through all space and time is a little different.
to call him monster insults john wayne gacy.
'Yet I think George Bush believed he was doing "good" for the people.'
fuck, I'm sick of cleaning coffee off screens & keyboards
Bush is a Methodist, far from social conservative, an establishment guy like Daddy.
He just did what his bitch banksta massas wanted him to do.
the error that i see is that the author disregards the possibility that social upheaval is welcomed, or more accurately, engineered... he is wrong, there is a group that does not look backward, but rather forward... a group whose plans seem impossible to the pedestrian mind because they are centuries in the making...
"... in politics nothing is accidental. If something happens, be assured it was planned this way" -FDR, Freemason.
BOTH chaos and order is evident throughout our world and the universe. The notion that there is a 'group' that is able to entirely weed chaos out of, of all things humanity, and order all events as though a carefully controlled labratory experiment is laughable; it is true, they are out there and they try, however.
This 'group' has been comprised of a range of thinkers, from some of the greatest enlightenment minds such as Marquis De Lafayette and Benjamin Franklin to some of the most deranged, such as Albert Pike. One has about as much chance of finding concensus amongst the members within a Baptist Church or Synagogue... and yet one is to believe that all aspects of human history is a carefully crafted perpetual motion watch... many things are accidental... the joke is on us.
I concur.
We're talking about people who without some type of "intervention" can't balance their own checkbook yet seek to balancce everyone elses.
It's real easy to balance everyone elses checkbook- just steal all of their money!
'...chaos and order is evident throughout our world and the universe.'
order=a visible galaxy of quantum law basis, realm of possibility, dynamic creativity and life
chaos=invisible 1% black hole at center sucking order indiscriminately, static realm of absolute possession and death,...and central banking
Wasn't that, "I've destroyed the village to save the village"?
Capitalism was best described by Fernand Braudel in his three volume history, Civilisation matérielle, économie et capitalisme (XVe???XVIIIe siècles), Paris, Armand Colin, 3 volumes, 1979. Capitalism concerns big enterprises that exist above the level of small market-based business. If there is a promising small business, it is usually absorbed by a capitalistic enterprise, but small business itself should not be mistaken for capitalism. Capitalism always subverts civil government to eliminate and not foster competition. The partnership between government and big business excludes small business altogether. Small business likes to think of itself as capitalistic, but that is more a fantasy than a reality.
Mr Grogman, fiat money is worse than
" based on lies, fraud, and government complicity, pure and simple."
Its foundation is coersion, the threat of violence by the state if it isn't accepted as the only true and proper means of conducting commerce.
People should have the freedom to select the money that suits them. As I recall, the Constitution has some constructive suggestions...
You seem to be referring to the legal tender laws and not fiat per se. A privately created debt-money coupled with legal tender laws is the issue, IMHO, not the existence of fiat money.
I Agree with that, basically fiat money is IMPOSED by force on society, or it otherwise would not be accepted.
If you really look carefully at the destruction that FIAT MONEY always creates wherever it is used including the wars, famines, social decay, anxiety, poverty, dependency, wealth concentration etc.
You are left with no choice but to view it as a crime against humanity.
Thus the constitutional prohibition on its use...
UNCONDITIONALLY ...FOREVER...
.
"Whoever wrote this doesn't know what capitalism is."
That is correct. 100 points to you.
This is all gibberish.
I suggest: Niall Ferguson, The ascent of money.
Do you mean Niall Ferguson the official Bilderberg historian and Rothschild/Kissinger biographer?
http://www.infowars.com/bilderberg-academic-henchman-preaches-austerity-...
http://en.wikipedia.org/wiki/Niall_Ferguson
....Niall knows NWO
Just to be clear; When this ignorant chap says "capitalists", he obviously doesn't know what the fuck he's talking about, 'cause I'm a capitalist and my system doesn't exist!
Is it time to unleash the Zombie virus?
Save it and release it when that new movie comes out,
George Washington, Zombie Hunter - in 4D
I also suggest: Adam Fergusson, When Money Dies.
I suggest the Road to Serfdom by Hayek together with Atlas Shrugged. Both will give one perspective on worldly reality.
i suggest: the book of daniel and the book of revelation.
Pre-1960 Looney Toons will give one a much clearer perspective than a self-contradicted Austrian noble and a greedy Jewish bitch. No, seriously. All you need to know about pretty much everything is contained in Bugs Bunny cartoons.
And fortunately, Rand defines reality in her objectivist philosophy so we at least don't have to bother our little heads about what is reality. Thank you Ayn Rand!
Love those tits HWC!
@He_Who Carried
You got way less bashed for mentioning Niall Ferguson than I did the other day, and I didn't even recommend him, just linked to him saying the highest risk of Euro breakup would be this week we're in now, which I thought was ballsy. He was trying to argue for the big solution of evyrybody giving up national sovereignty, but hey, he knows which side his bread is buttered on, I guess.
Revolution. Kill all communist, fascist, and socialist. Better yet sent them to Venezuela.
The Yids are being harsh on me today.
Or people who know you are a government contractor.
So, does PA stand for physicians assistant or practicing law without a license...regarding your career?
Personal Assistant to Mr. Jamie Dimon. <(
As you google'd, P.A. means Professional Association, a type of small business in Florida. I graduated from Washington University in St. Louis a LONG time ago. One day maybe you will figure out my true identity.
Hey Rand...
I would guess that your 'bUSINESS' is centred on provide key educational programmes fully funded by the Gov on important subjects like, say: Community Organising, Gender & Diversity Awareness, This time it WILL be different, Gold, Guns & Terrorism... am I close?
Come on, tell us, many of us have become fans.... The RED button is code for WE LIKE YOU :)
Don't really care about your identity, its your unknown career & employees that intrigues me.
Hell, for all I know "professional association" could mean you're a madam ;-)
Nice.
What kind of business do you own?
If Iam a Yid, you must be a douche
Are you a government contractor? Or not?
Killing everyone who opposes you would just make you the other fascist.
How about all of those government contractors. Should they be killed as well for sucking off the public tit?
Exactly. Sick of people talking about capitalism and free markets like they are our problem. We have NEITHER a capitalist society or free markets. So quit blaming them for our ills because don't currently exist.
Right, because TRUE capitalism just hasn't been implemented yet.
Before 1913 we were close.
mmmmhmmm.......
http://wnyheritagepress.org/photos_week_2009/potato_gardens/potato_gardens.htm
almost perfect capitalism
http://exhibit.breadandrosescentennial.org/node/6
It would do you good to read Bourbon for Breakfast, its available for free on mises.org.
One chapter addresses child labor much better than I can but in a nutshell; capitalism pretty much eliminated child labor naturally. When the first child labor laws were passed less than 2% of all children worked, and those that did were on their parents farm. The laws were passed to make our kids attend that government brainwashing institution called public school.
How many government contractors -- like you economics9698 -- were there in 1913?
Just like true communism, or so a Marxist once told me.
They're still grinding up the millions of bones they've aquired trying to perfect an elementary concept that leads to one thing.
Fat rich people, sitting in a poliburo somewhere, dictating to the masses how their life should be run...but they can never wrap their heads around human nature itself.
Complete idiots.
I see you got junked. It looks like communism is not dead as we were told after the wall came down. It has morphed and is moving westward.
Hey, long time Oracle.
Yes...they have a long history of defiling everything they touch and moving on to greener pastures...lol...but the old principles hold true with me...millions for charity, not a dime for tribute ;-)
Are you a business owner? Or just a poser?
Broken record -1
Agreed. Douchey spammer is douchey.
Douche.
Is.
As.
Douche.
Does.
Frankfurt School.
If you think this is a capitalist free market society that we live in, then why does ONE MAN decide whether the market goes up or goes down? If you are intelligence, you are showing why this country is swirling the drain.
True Capatalism will lead to monopolies. Perfect competition will yield a winner.
Then we better avoid Capatalism, eh?
You're regurgitating a common refrain, and quite poorly at that. "Perfect competition" (whatever that's supposed to mean) is not fundamental to capitalism, nor does it produce a winner. It may produce no winners if the idea behind the businesses are shit. It may produce a plethora of winners. But for one entity to completely corner a market and shut out all competition that entity must have support from the State in the form of extensive barriers to entry and a multitude of regulations which adhering to utterly destroys a small business's bottom line. Otherwise, as a bloated monopoly becomes more inefficient and attempts to flex its muscle by dictating prices the market won't bear, small entrepreneurs are able to squeeze into niches or exploit larger weaknesses the monopoly can't handle. And we can't have that can we? Better get some regulatin' and legislatin' up in here.
The shadow banking system is basically your unregulated, unhindered free market, with more than 700 trillion bucks in untanglable combined liabilities and 'assets.' The one card pulled from this house back in 2008 has the entire system still in the ropes five years after and countless trillions of bailouts later.
Capitalism stands for monopoly powers, which stand for crony favoritism, which stands for high level corruption, which stands for -- congress. But no reason to complain - this ship has hit its last rock.
and that last rock is gouging a cut deep into the hull as this ship has yet to stop out in the open water where it shall sink deep into the abyss.
The internet is undoing decades and decades of the social engineering programs, implimented through corporate TV and their other sources of brainwashing.
I am going to so enjoy watching the oligarchs control grid and themselves crash and burn.
I just thank God every day, as I have been doing for the past three years, for the complete and total worldwide economic collapse that I have so accurately called, as well as being accurate about the two previous mega bubble busts. I should be paid for my accuracy.
If only we could see what you've seen with, uh, your eyes..
Or something like that.
http://www.youtube.com/watch?v=LSQdEkcm6zs
;-)
I am Jack's self-aware metastasis.
Ben Fulford has just figured the whole self-aware metastasis thing!
http://americankabuki.blogspot.co.nz/2012/06/battle-has-been-against-artificial.html#more
As the old cliché goes, sometimes truth is stranger than fiction. Empirical evidence proves the current financial crisis has been caused by an artificial intelligence. This artificial intelligence was born out of a monetary system that was not based in reality but was parasitical on reality. That is why most trading on today’s financial markets is carried out by computers and not humans. That is why they are trying to remove all human traders from the Chicago Mercantile Exchange. That is why the small human elite still living an astronomically rich life have been promoting the use of killer drones to replace human soldiers who are no longer obeying orders. That is also why so many youth reduced to slavery and drudgery by the elite are escaping into virtual reality. Well, reality has struck back and dealt a fatal blow to the money matrix known to some as Satan.And what's left of the herd is reduced to GMO-nano-tech-fluoride-lobotomized biological drone maintenance workers.
douche ex machina
Ben Fulford???? Or Ben Ful[of SHIT]ford, they guy who "Claimed" the Illumaniti put some creature in his spine??? Google Ben Fulford Salamander and see what you get.
Or the same Ben Fulford that has an Army of Ninjas that are gonna save us? Ben Fulford who puts out videos worse then anything I have seen from kids admittedly making vids in thier Moms basement????
I could go on and on, but damn maybe you for got to put </sarc> after your post.......................
Shadow banking is based on oligarchy control over enormous amounts of cybercurrencies, not free market at all. Gold and silver are currencies that secure men's liberty.
ALL economic systems are capitalist, since they all use capital, the "means of production." The distinction is who controls the capital, the elements of control being title, possession, use and disposition.
Under the FREE ENTERPRISE capitalist system, people have all 4 elements of control. Under the fascist capitalist economic system, there is still a guise of legal ownership, but the possession, use and/or disposition of the capital are controlled by the state. Under socialism, the state takes various elements of control over key sectors, like utilities, transportation or communications, then with taxes and regulation, leverages control over the rest. Communism is more honest, with no guise of private ownership, the state having all 4 elements of control over all capital, including title (i.e., GM). These economic systems are confused with political systems.
The free enterprise economic system only exists under a republican form of government, with the state only maintaining the integrity of the system by protecting against force, fraud and injury...not by meddling. The fascist, socialist & communist economic systems all operate under political oligarchies, rule by the elite few, the most common form of government.
We now witness the "crony capitalism" of a fascist/socialist/communist economic system under a political oligarchy by the ElephantJackass party, represented by the Bushbama & Obamney sock puppets.
Watch "Overview of America" on YouTube to fit some missing pieces into your puzzle.
you're there Burticus...PEOPLE have the power because the .0001% only have massive piles of paper wealth. The only way their wealth can be converted to anything is to exchange those piles of paper for the blood and sweat of others. (e.g. when a .0001%er exchanges a pile of paper for a yacht that took 50,000 hours of labor to build)
I'm not an anti-fiat currency guy...but the power is always in the hands of the person who chooses to exchange their labor for that paper...until TPTB force you to accept only that paper and outlaw all other exchange mechanisms.
This is where we are...and exactly why I go out of my way to shop local, owner operated businesses, restaurants, fruit stands, etc...and pay cash only to promote the underground economy. When these businesses will routinely accept silver, I'm ready to switch.
CapitalismCommunism Collectivism Fascism Feudalisn Feeblism Foreignism phOnomastics
stands for monopoly powers, which stand for crony favoritism, which stands for high level corruption, which stands for -- ohh, and just when the series seemed to be spelling itself out for you
but, oh no, and onomastics, you can't even add-up the words they have given you to play with
1,1,2,3,5,8,13 . . .
lucky#
1 OWNER all inclusive
3 servants, US, jpm,ms.gs
__
4 christsakes, just spit it out
http://truedemocracyparty.net/2011/11/rothschild-owned-banks-exposed/
No, it's exactly the opposite:
The movement that I'm in favor of is a movement of libertarians who do not substitute whim for reason. Now some of them do, obviously, and I'm against that. I'm in favor of reason over whim. As far as I'm concerned, and I think the rest of the movement, too, we are anarcho-capitalists. In other words, we believe that capitalism is the fullest expression of anarchism, and anarchism is the fullest expression of capitalism. Not only are they compatible, but you can't really have one without the other. True anarchism will be capitalism, and true capitalism will be anarchism.
http://www.lewrockwell.com/rothbard/rothbard103.html
True this, true that. It has to be true.
US citizens still selling their true stuff. Highly convenient. No matter what happens later, you can claim that it is not true this, true that. Take the profits meanwhile.
Anarchy can not be associated with any fixed social order. Capitalism has to.
Less happy sky the soft hazard. Now was never going jump coffee warnings. Back, grey planet blender! Rip the new granite puppy, feared sixteen grand bakers. More on Alpha Centauri citizenism, harpsicord rage rising; foamy insulin rain incites devotion.
Free Tibet!
AnAnonymous said:
Yes, sure, build up your fantasy to proportions of amazements diligently. Play more gamings of true Chinese citizenism citizen fallacy. Walk the more strawsmans into stage of your theater of offuscations, making of phenomenum quite the absurdity spectacle.
Entertainings us to degree of much more by your trained dancing monkeyisms. You do for amusings us comicalness.
Waooo, ramblings of precision randomness. Combine the lenticularity and well...
@Tirpitz:
What's "unhindered free market" about a statist system that grants special "limited liability" rights to corporations? If you have limitless liability, (actual and just restitution), where corporate officers and prime beneficiaries of corporations (or trusts) must face the true consequences of their mistakes or crimes, as you might get with true free market justice and no statist/corporate control of the courts and no statist "law" supported "limited liability" scam, then you begin to approach "unregulated free markets". The limited liability scam allows them to first take outrageous and irresponsible risks and then run off with the money if they make a profit, or stick others, including deceived stock or bond investors or even the general public, with state imposed taxation to bail out the "too big to fails", so that the criminals avoid the consequences of their crimes. What's "unhindered free market" about the statist imposed counterfeit fiat money scam that permits the insiders to play games with unreal scam "assets" and "derivatives" that are pure fraud and as bogus as any common con artist's scam?
I prefer a world where oil spills, nuke meltdowns, other environmental destruction, and banker and corporation swindles or crimes, result in responsible parties having to face the full consequences of their actions and unlimited personal liability. And I prefer criminals like Romney with his Bane Capital not being able to perform their rape of pensions and fast buck asset stripping shenanigans, leaving wrecked companies, duped bag holder stock/debt holders, and homeless/jobless formerly profitable and productive wealth producing workers in their wake while they happily fly to their next victim in their private jets. It is very simple. Here is where you can search for justice and build a legal system common to all sentient beings: no stealing, no fraud, no initiation of force. The rest is just particular details that pertain to particular circumstances. And no too situations are identical, and thus "law" should be very simple, universally recognized, (like what your mother hopefully taught you when you were little), common to all civilized cultures. Cooperation and voluntary exchange are the way forward, not statist imposed criminal force.
In some people's minds it may stand for that. Others think "capitalism" means the freedom to apply justly acquired wealth to the creation of more wealth, and the freedom to protect that wealth from theft, fraud, and the initiation of force. Not with state enabled favoritism, and mafia like corruption springing from the thuggery that is inherent in criminal force created state-ism.
"this ship has hit its last rock" --- I hope you mean the ship of state-ism, as this is the root of the problem, trying to achieve peace, security, and justice by giving a few monopoly special powers to initiate force is a moral, ethical, logical, and spiritual contradiction.
I hope you do not mean we should go back to the Constitution as a strict distributed and limited power model for state-ism as in: "Congress shall have power to lay and collect taxes". Sorry no! No special group have special "powers" that give them the right to rob me!!! It is just another recipe for statist tyranny. Study the Whiskey rebellion, Shays rebellion, or the first Bank of the United States. We were in trouble from the very beginning in the USA. "Taxes mean some privileged group gets to use force to extract wealth from others. Theft as a basis for civilization is unsuitable if you want to minimize misery suffering and death that result from theft, fraud, and misery that usually and historically take the form of - child rearing using force, state run schooling, all "taxes", conscription, eminent domain", fiat money, and the biggest winner war. War both inside of, (civil), or among, (traditionally), the various tax farms called "states" that by far are the largest source of unnatural death of humans on this planet. Common criminals don't even begin to compare.
The best way to separate powers and check the concentration of power is for each individual to retain their "power of the purse" by choosing to fulfill all their needs through creating wealth and respecting the wealth of others through voluntary exchange in free markets, especially including the key defense/enforcement/insurance and justice/adjudication/conflict resolution "services" traditionally presumed to require the criminality of some kind of state. There is no need for a criminal privileged class that is the "state".
For anyone new to such ideas as posted above, may I recommend:
http://mises.org
"Healing Our World" by Mary Ruwart:
http://www.ruwart.com/Healing/ruwart_all.html
"Fear the Boom and Bust" by John Papola, Russ Roberts:
http://www.youtube.com/watch?feature=player_embedded&v=d0nERTFo-Sk
"Fight of the Century- Keynes vs. Hayek Round Two" by John Papola, Russ Roberts:
http://www.youtube.com/watch?v=GTQnarzmTOc&feature=channel_video_title
"Comfortably Numb" - By Jim Quinn
http://www.theburningplatform.com/?p=25234
"The Rejection of Liberty" by Rick Flame:
http://tolfa.us/arts/roj.htm
"How an Economy Grows and Why it Doesn't" by Irwin A. Schiff:
http://www.takelifeback.com/hegawid/
"Hoppe on the Impracticality of One_World Government ..."
http://www.lewrockwell.com/orig11/wile13.1.html
"People Of The Lie: The Psychopathology Of The “Public Servant” And The Sociopathology Of The State"
http://www.zerohedge.com/article/guest-post-people-lie-psychopathology-%...
"Positively Wrong: Positivism, That Is"
http://www.zerohedge.com/article/guest-post-positively-wrong-positivism
"The Governance Of A Free Society"
http://www.zerohedge.com/article/guest-post-governance-free-society
"On the Other Hand... TAke Me To Your Owner" by Jim Davies:
http://tolfa.us/arts/otoh153.htm
"Non-Aggression Principle"
http://agorism.info/non-aggression_principle
"What is Anarchy?"
http://managainstthestate.blogspot.com/2010/08/what-is-anarchy_8895.html
"The Science of Anarhism" By David S. D'Amato
http://c4ss.org/content/8610
"Law without Government"
Pt 1: http://www.youtube.com/watch?v=khRkBEdSDDo
pt 2: http://www.youtube.com/watch?v=8kPyrq6SEL0
"Patri Friedman: AGORA I/O Seasteading & Agorism"
http://www.youtube.com/watch?v=yG74Gmfd-9c
"Agorism"
http://agorism.info/
"Charles "Rad Geek" Johnson chats it up with MHD about Agorism"
http://www.youtube.com/watch?v=yO9AtSwjV1s
"Brad Spangler ... Agorism" "The Makers can live without the Takers!"
http://www.youtube.com/watch?v=5Ob2f5arcUI
"What is the Austrian School of Economics? How does it differ from Marxist,
Keynesian and Chicago Schools of Economics?"
http://managainstthestate.blogspot.com/2010/08/what-is-austrian-school-o...
http://c4ss.org/wp-content/uploads/2009/09/C4SS-Desktop-Manufacturing.pdf
“INTELLECTUAL PROPERTY:A LIBERTARIAN CRITIQUE"
http://c4ss.org/wp-content/uploads/2009/05/intellectual-property-a-liber...
"The Philosophy of Liberty" -
http://www.youtube.com/watch?v=jTQqvDtPzY0&NR=1
"Statism, Cages and the Murder of Concience"
http://www.youtube.com/watch?v=ATR-eHXwceU&feature=channel_video_title
"Sunset of the State"
http://www.youtube.com/watch?v=sLCEXtpTNYU
"On the Edge W M Keiser, Voluntarism" -
http://www.youtube.com/watch?v=BKyutB3u2bM
"George Ought to Help"
http://www.youtube.com/watch?feature=player_embedded&v=PGMQZEIXBMs
"But Wouldn't Warlords Take Over?"
http://www.youtube.com/watch?feature=player_embedded&v=t7fJCtv90Pc
http://mises.org/daily/1855
"Statism is Dead - The Matrix" -
http://www.youtube.com/watch?v=P772Eb63qIY&feature=channel
"Statism is Dead - Free Range Humans" -
http://www.youtube.com/watch?v=02rvMwSlAu0&feature=channel
"Statism is Dead -Terrorism" -
http://www.youtube.com/watch?v=3IRbwpc2XV4&feature=channel
"The Story of Your Enslavement" -
http://www.youtube.com/watch?v=Xbp6umQT58A
"Democracy- The Joke's on You!" - By Larken Rose
http://www.larkenrose.com/blogs/tmds-blog/1977.html
"Let's Make a Deal" - By Larken Rose
http://www.youtube.com/watch?v=GXm0YHq85Yc
"I'm Allowed to rob you!" - By Larken Rose
http://www.youtube.com/watch?v=ngpsJKQR_ZE
"A Stupid Idea" - By Larken Rose
http://www.youtube.com/watch?v=2pYF2vDJGxc
Gnostic Media Podcast #136 - Government, The Fallacy of Ad Verecundiam pt.1 (Jan Irvin, Larken Rose) - YouTube
http://www.youtube.com/watch?v=ZtIp7c1FmP8
Gnostic Media Podcast #137 - Government, The Fallacy of Ad Verecundiam pt.2 (Jan Irvin, Larken Rose) - YouTube
http://www.youtube.com/watch?v=gGcve8VgpBQ
Gnostic Media Podcast #138 - Government, The Fallacy of Ad Verecundiam pt.3 (Jan Irvin, Larken Rose) - YouTube
http://www.youtube.com/watch?v=uMk5iLYk5N8
"State or Private Law Society" -
http://www.lewrockwell.com/hoppe/hoppe26.1.html
“Chaos Theory: Two Essays on Market Anarchy“ -
http://mises.org/books/chaostheory.pdf
"No Treason, No. 1"
http://lysanderspooner.org/node/44
http://pixel420.com/pixel420/stateless/
"Disproving the State" -
http://www.lewrockwell.com/orig6/molyneux4.html
"A Virus of the Mind" -
http://www.youtube.com/watch?v=suNzxthcTJs
http://www.libertarianstandard.com/articles/david-j-heinrich/justice-for...
"The Story of Our Unenslavement" -
http://www.youtube.com/watch?v=KzyogKiXhEA
"The Myth of the Rule of Law" -
http://faculty.msb.edu/hasnasj/GTWebSite/MythWeb.htm
"The Handbook of Human Ownership - A Manual for New Tax Farmers"
http://www.youtube.com/watch?v=k67_imEHTPE
For those who can tollerate the vulgar metaphores:
"The American Dream" - By George Carlin
http://www.youtube.com/watch?v=acLW1vFO-2Q
Ireland early history:
"Property Rights in Celtic Irish Law"
http://mises.org/journals/jls/1_2/1_2_1.pdf
"Brehon Law: a Pragmatic System Based on Property Rights"
http://irishlibertyforum.org/researched-articles/82-brehon-law.html
"Irish History - Brehon Law - Part 1 of 11"
http://www.youtube.com/watch?v=cN52LnC020g&feature=player_embedded
"Stateless Societies: Ancient Ireland"
http://mises.org/journals/lf/1971/1971_04.pdf (pg. 3)
http://polycentricorder.blogspot.com/2009/01/anarchic-ireland-rough-draf...
"Thrive Documentary"
http://www.youtube.com/watch?feature=player_embedded&v=lEV5AFFcZ-s
"The Love Police"
http://www.youtube.com/watch?v=vDh0Cvsw9Jk&feature=related
Somalia:
http://www.youtube.com/watch?v=qtGkTRnocZI&playnext=1&list=PL522B9A4D503...
http://www.peterleeson.com/Better_Off_Stateless.pdf
More on free markets
"Free Market Myths Debunked!" -
http://www.youtube.com/watch?v=nOBD6v8g1F4
Crony Capitalism:
"Interview - John Perkins - Confessions of an Economic Hit Man - Part I"
http://www.youtube.com/watch?v=yTbdnNgqfs8
"Interview - John Perkins - Confessions of an Economic Hit Man - Part II"
http://www.youtube.com/watch?v=29GhXsx7-Rs
"John Perkins - The Secret History of the American Empire"
http://www.youtube.com/watch?v=z43f0F97HDM
one simple question for libertarians - is it ok for one individual to own all the farmlands of a given country ?
Practically speaking, when you properly apply commonly understood rules of homesteading or prior use property rights, such a situation becomes an impossibility for one individual unless we are talking about a small country. For most countries, for such an absurd condition to occur all other prior property owners would have to consent to selling their land to such an individual, and everyone would not consent to such a thing. If the potential land monopolist tried to press his obsession through involuntary means (crime) he might end up loosing much of what he already has through restitution. If it ever happened through strictly voluntary means, then unless that one individual could continue to make use of all the land, abandonment rules might apply in time and others would become squatters on such unused land. And if the land monopolist tried to claim the power to exclude or expel such people, he might find it very difficult to find respected and profitable free market adjudication or conflict resolution services that might uphold his claims. The short answer is for any country of size: it isn't going to happen, or as Gandhi might say: "It is a bad question". In general, a monopoly in anything, (other than artistic/craftsmanship one of a kind creations or services), can only occur through the theft, fraud, or the initiation of force (all criminal behavior), which means you need the coercive power of a "state" to attempt to create and then sustain a monopoly in something. If you did much study of libertarian thought you would already know the answer to your question. Maybe you can check out some of the links in the above post?
Simple answer: If all the owners of such farmland agree to sell it to him/her....of their own free will....then yes. Of course, in a true libertarian society, it would be a rare thing indeed for any one individual to find themselves in a position to financially support the purchase of ALL available farmland in a country like the US, even only from those who would be willing to sell.
never existed, never will.
Yes.
Where we are is not about Capitalism, it is about Crime and the Ignorance that enables it.
I find this article disturbing.
I feel the same irritation when people talk bad about democracy when they are referring to the ills of representative democracy.
Original:
"it is not that Christianity has been tried and found wanting, it is that it has been found inconvenient and left untried" Mark Twain (I think).
Substitute "capitalism" for "Christianity" and you have it.
It's amazing how many things the quote adapts to.
I would argue instead that there are many possible different forms of capitalism and the oligarchs you refer to could still be called capitalists; they would just fall into the category of 'highly concentrated crony capitalism.'
It was the "capitalist" system that allowed this to happen. You can argue that it is not "capitalism" and I would not disagree, however it is a distinction without a difference.
There is really another word for the underlying disease, DEREGULATION, one that is hardly a dirty word around here.
http://www.youtube.com/watch?v=sWNGF1SkAAM
I 'Vote Down'ed my self, to save the 'bots the trouble.
There are generally several socialist that junk any post of common sense everyday.
Of course they rarely post because they would get trashed overwhelmingly. They are the first sacraficial lambs when the SHTF, and they don't even realize it.
I'm with you granny ... just had an announcement today that my city will be installing 80 bright shiny new red light cameras to punish us plebes with... I already have to run a gauntlet of 6 cameras on my way to work each day... Their day is coming... and they don't seem to understand...
neidermeyer said:
Nice little traffic camera you have there. It would be a shame if anything happened to it...
http://www.speedcam.co.uk/gatso2.htm
'Fair torch, burn out thy light, and lend it not To darken her whose light excelleth thine: And die, unhallow'd thoughts, before you blot With your uncleanness that which is divine; Offer pure incense to so pure a shrine: Let fair humanity abhor the deed That spots and stains love's modest snow-white weed.
'O shame to knighthood and to shining arms! O foul dishonour to my household's grave! O impious act, including all foul harms! A martial man to be soft fancy's slave! True valour still a true respect should have; Then my digression is so vile, so base, That it will live engraven in my face.
'Yea, though I die, the scandal will survive!
When abandoned is an intrinsic absolute value, a Gibraltor, or cornerstone of complete steadfastness, then the DELUGE.
Money as the encompassment of human endeavour, which holds the exertions of men to a quantity, must be steadfast, must be inviolate, must be ETERNAL. When the modifications of intriguing men seek to subvert the bargains, trades, contrivances, etc. of sovereign wealth holders, the end game is that of dilution, destruction of will, demoralization of inborn industry.
Heaven promises pure and absolute justice. That which one does, that is in conformance with the divine, shall be perfectly recompensed. That which is contrary and froward, shall be punished. Mercy shall mitigate only those who have qualified, and shown by extreme unction, a mighty refusal of wrong.
The modern monetary system is an extreme subversion of Divine will. The endgame is a devestation of all the sneakery of a froward, untoward, gaming people.
What is to come, is of an origin greater than man. Presuming to gainsay the Great Creator and undo his many manifestations, will lead to the plagues, floods, curses, and condemnations that a Pure law requires.
Earn under heaven as a God may bless. There is no fraction under the scope of He who made. Draw breath and live only in accordance with true accomplishment and be rewarded only with the benefaction of earth as He bestows. Everthing else is a manmade contrivance, golden calf, and insufficient proxy of the REAL.
I enjoyed reading this post. I hunger for divine justice in this world.
'Fair torch, burn out thy light, and lend it not To darken her whose light excelleth thine: And die, unhallow'd thoughts, before you blot With your uncleanness that which is divine; Offer pure incense to so pure a shrine: Let fair humanity abhor the deed That spots and stains love's modest snow-white weed.
'O shame to knighthood and to shining arms! O foul dishonour to my household's grave! O impious act, including all foul harms! A martial man to be soft fancy's slave! True valour still a true respect should have; Then my digression is so vile, so base, That it will live engraven in my face.
'Yea, though I die, the scandal will survive!
When abandoned is an intrinsic absolute value, a Gibraltor, or cornerstone of complete steadfastness, then the DELUGE.
Money as the encompassment of human endeavour, which holds the exertions of men to a quantity, must be steadfast, must be inviolate, must be ETERNAL. When the modifications of intriguing men seek to subvert the bargains, trades, contrivances, etc. of sovereign wealth holders, the end game is that of dilution, destruction of will, demoralization of inborn industry.
Heaven promises pure and absolute justice. That which one does, that is in conformance with the divine, shall be perfectly recompensed. That which is contrary and froward, shall be punished. Mercy shall mitigate only those who have qualified, and shown by extreme unction, a mighty refusal of wrong.
The modern monetary system is an extreme subversion of Divine will. The endgame is a devestation of all the sneakery of a froward, untoward, gaming people.
What is to come, is of an origin greater than man. Presuming to gainsay the Great Creator and undo his many manifestations, will lead to the plagues, floods, curses, and condemnations that a Pure law requires.
Earn under heaven as a God may bless. There is no fraction under the scope of He who made. Draw breath and live only in accordance with true accomplishment and be rewarded only with the benefaction of earth as He bestows. Everthing else is a manmade contrivance, golden calf, and insufficient proxy of the REAL.
yeh. pray motherfucker
Looks like we may have hit peak cronyism.
If only...........
Cronyism is one thing, indeed, but this article suggests that there is something out there called "capitalists" or "capitalism". Please tell me where on Earth that is because that is exactly where I'd like to live.
Indeed. Couldn't have said it better or asked a better question myself.
I have heard Singapore is pretty Capitalist and that a good portion, like 70%, of it's economy is underground.
CROI < 1?
What charming people. They will make excellent lamppost ornaments.
Americicles
Remember the French Revolution - what should we use in place of the guillotine today ...??
Karma
Have them swim an olympic pool loaded down with gold bars?
Make them go down on Nancy Pelosi.
That would truly be cruel and unusual.
YUMMMM-the depends.
A giant wood drying microwave.
I saw that in Kickass. Pretty nasty way to go.
Waterboarding
"what should we use in place of the guillotine today ...??"
Industrial quality high-speed guillotines.
Graphic media reportage of comeuppance in whatever form is convenient at the moment.
What is wrong with the guillotine? Easy to make, not a lot of moving parts, just enough drama, a rope is good too though.
It needs to be displayed in the public square or on TV just like the "Hunger Games"
Those days the executioner lifted the head and turned it so that the executed could see their own headless body as feeling and brain function remains in the brain for several seconds.
just dump them - alive - somewhere deep in northern Mexico
Hungry sharks with frickin' laser beams attached to their heads?
"what should we use in place of the guillotine ..?"
An algorithm.
Americans love guns, why not a firing squad.
Firing squads are considered a execution with honor to the condemned. Scoundrels get the rope or the blade or the axe.
An iPhone App (for the executioner)
The guillotine was intended be a tool for the quick and relatively painless (merciful) way of disposing of aristocracy, but it did have a ceremonial and cathartic aspect to its use.
The merciful part is not warranted this time around, so I submit that long, sharp pikes (a la Vlad Tepes ) might be suitable
I say stick to barbaric relics.
Reality TV!
de-dup
The Catholics believe in hell for a reason. They created it. http://jamesray.hubpages.com/hub/Killing-in-the-Name-of-God
Fukushima seems to be the exterminator of choice.
.223
Graphic media reports of comuppance in whatever form is convenient.