Posts Tagged ‘Economic Development’

Capitalism hasn’t stopped, its not on the high street but it’s alive and well online and in the home (where the state now resides – we home school our kids via the state, we work from home, under authority of the state and we are still consuming from home..)

I don’t know what’s to come and find it futile and almost arrogant to pretend I have more insight than anyone else… so I will state a few facts and leave you to form an opinion from these…

1) Separate capitalism from the monetary system…capitalism has taken a knock (sort of) but still goes on…many businesses are still legally doing reasonably well and are pivoting to take advantage of any future developments

2) The monetary system is alive and well….it hasn’t been knocked over in the slightest….yet, but money is as unsound (meaning ever more debased and fictitious) as it has ever been

3) The key which one should focus on is CONFIDENCE…after the crash of 2008, governments and central banks have dished out even more of the same medicine and if the last dose left us with 10 years of ‘emergency conditions’ it’s not guess work to understand the economic future will bear similar structural issues for those that pull the strings

4) The response by central banks and governments has been greater magic tricks (money trees) but this time there doesn’t seem to be many limits….what ever it takes…we’ll pay your wages, give you loans, forgive your tax, not charge you rates, keep public services going…they really mean whatever it takes….unless it destroys confidence, then that’s possibly the game changer…?

5) The monetary system has for the past 50 years been forecast to implode….that is the nature of fiat money, and so perhaps this incarnations time has come….but that doesn’t mean the house falls down….the landlord is still in power….he’ll just move us into one of his other properties…it’s a new build, but with less space

6) Unless the masses start to believe the game is up? Will they vote him out of power and bring in an outsider? Will they get used to doing things themselves so they don’t need the state as much as they thought…and unless they see through the curtain, up the skirt, and abandon the need to play along, become detached and go it alone…it may not be their choice to make if these other options are just co opted decisions which will move them from one world to the next construct…meaning this is simply refinement nothing more

7) Our generation has never experienced a war which engulfed the nation we live in…in a manner of speaking this is the closest we’ve got thus far….using the past as a guide (if we can do this, which we may not be able to….) then the capitalist monster was just paused, only for a long readjustment phase to begin throughout the 40s/50s until the 60s/70s we starting believing we had come through the worst and we’re happy to start smoking the shit being dished out to pacify us before ramping things up from the 80s

8) I find it fascinating that whilst the retailers and the airlines and people are calling for bail outs….the banks seem fairly calm….not that they won’t lay off staff, they will but no ones lining up to withdraw their money (yet) there’s no bank run…that doesn’t look like an existential economic crises to me….yet

Any discourse on the nature of progress cannot be exercised in a limited manner, it must consider broader perspectives than just a narrow reading of economics and statistics….

What if we are unable to value those elements most crucial to our survival? What is the benefit in resource allocation via capitalism then?

Image result for 23 things they don't tell you about capitalism

23_Things_They_Don_t_Tell_You_about

Please make use of my copy of this text, my highlights are included in this version

In order to counter the prevailing narrative all too often forced upon us, Joon Chang does a valid job of presenting his research and evidencing his take on the alternative consequences of this form of ‘neo liberal’ capitalism. This form of market based trade varies from those of historical applications, and as the author shows, these do not transport well across borders.

The key points that I would like to make note of are as follows;

  • The prevalence of limited liability which ties into what I have read of other commentators, who raise legitimate concerns around the level of risk taking that this encourages and the fact that it is the shareholders who stand to loose their entire investment. The historical structure was one of full exposure to the risk of the venture ensuring that incentives of management match that of the investor

• I would like to draw attention to the assertion that ‘there is no such thing as a free market’ and that ‘economics is not a science but a political excercise’. This further raises the question as to why it is taught so prevalently in high schools ?

• Free market for labour? No, the biggest control in place here is immigration!

• The developed world benefits greatly from historical legacies and development which has taken place over centuries – this points directly to colonialism in my view – no observer should discount the impact the modern world structure has had on wealth and continued productivity

  • Change (economic development) and Value must be put into perspective, who is giving it value and is it of value to everyone?

• The way in which nations are assessed in terms of quality of life or economic indicators leaves a lot to be desired, if qualitative factors such as prison populations, income inequality, not too mention debt levels were factored in to this argument, the perspective would change quite significantly

• Perhaps most importantly for me; the impact of colonialism has not been deeply considered when trying to understand ‘modern world’ problems. After all, a number of Eurocentric commentators like to applaud Europe’s ‘contribution’ to the making of this contemporary world, how it was shaped (literally, with a blood soaked sword) by the West, but in this process of this construction why are we failing to appreciate the ongoing impact of over 400 years of systematic, comprehensive oppression, population upheaval and geographical reconstruction. Why?

 

“None are more hopelessly enslaved than those who falsely believe they are free.” – Johann Wolfgang von Goethe A cliché, and yet so pertinent. So many people think that the struggle against the New World Order is about preventing becoming their slaves. But we ARE their slaves! The essence of Slavery is that someone else […]

via From Chattel Slavery To Capitalism — Real Currencies

 

This is a piece from 2017, by TruthOut.org. Putting aside the kind of doomsday/beware: the robots are coming type scenario, I would like to direct readers to the impact and consequences discussed for wealth inequality, productivity and earnings in this new era, which in turn has significant consequences for debt;

http://www.truth-out.org/news/item/40495-the-robot-economy-ready-or-not-here-it-comes

 

Note the historical parallel to contemporary Chinese and Middle Eastern dominance of US assets and currencies and their recycling of dollars back into the US dominated global economy….

An excellent history of the workings of global central banking, seen through the economic history of Japan. The Asian financial crisis, Long Term Capital Management and the recent Euro debt crises are also explored and together brought into contemplation….highly recommended