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Capitalism Is the Disease
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The federal reserve recently announced a $1.5 trillion dollar coronavirus “stimulus” package, $500 billion of which will go to incentivize banks to keep lending.

Another maneuver, cutting Federal Reserve interest rates from an already low amount to effectively 0%, means big banks will be handed the equivalent of interest-free cash under the assumption that they will keep America’s heavily in-debted corporations afloat.

But where is the evidence that bank bailouts do that? It took a decade for the 2008 bank bailouts to finally “work” – as in put sufficient numbers of people back to work. A more pressing question is why do ordinary people need to pay interest fixed at whatever rate middleman shareholders at private financiers want in order to produce/consume?

Last November, analysts found that US corporations are highly leveraged with $10 trillion dollars in debt. The dirty secret of liberal capitalism is that economic expansion (jobs, not just stock market numbers) is highly dependent on the privately owned apparatus of the federal reserve and the state to invent credit bubbles for private interests to have incentives to risk capital in a productive endeavor. If consumer activity falls, these corporations will be unable to pay owed interest to their creditors, since all of the above are expected to put shareholders above maintaining employment. Banks like stimulus beneficiary Goldman Sachs will increase the usury rate on credit loans if the market switches into bear mode, which is bad news for all the heavily indebted companies it loans to.

Already, multiple major companies like AT&T, GM and CVS are barely above junk bond rating These companies are as guilty and irresponsible as the banks, since they have used the cheap credit largely to engage in behavior like useless mergers, which provide quick profits to shareholders but not much else. The outcome of having their bonds down rated any further will be exposure to the highly speculative vultures in the junk bond market, which in the end will cause a spike in the unemployment rate.

Credit is already dirt cheap. The problem is that both the banks and the multi-nationals are highly corrupt, inefficient and are run by people who do not have America’s interest in mind. The oligarch’s strategy to keep Wall Street afloat does not take into account globalized supply chain issues either. If the coronavirus epidemic spreads and grinds international commerce to a halt, how will handing banks more cheap money solve this?

The US government’s lack of direct control over the nation’s central bank and the plutocratic nature of our weak state means that common sense solutions are off the table. Why doesn’t the state buy up majority shares in large corporations (or outright nationalize them, as happened with the short successful experiment with General Motors in 2009) and use the $1.5 trillion at low interest to develop American industrial independence?

The best thing Trump and Congress have to offer when it comes to relieving the pandemic burden on average citizens is a “tax-cut” that suspends Medicare and Social Security payments by employers and workers for a year. It will cost $1 trillion dollars. Previous suggestions, like offering federally funded paid sick leave, were shot down by the Republicans in Congress. The current plan does nothing to serve people who will be hit hardest either financially or health-wise: those that get laid off, the unemployed, students, people with jobs that don’t provide sick leave and the elderly – who have a coronavirus mortality rate of 22%. For the self-employed who get sick or have no business coming in, they won’t have taxes to pay because they will be going bankrupt. If the government is willing to get in that much debt for another “tax-cut,” why not just hand every American citizen money and small/medium scale business’ money to tide everyone over?

The Chinese government’s pandemic recovery plan demonstrates why they have gone from a developing nation to economic peer of America in such a short period of time. Their command economy is unstoppable and makes the pencil necked Jew economists that invented neoliberalism look like fools. The People’s Bank of China, which is run by the state, is giving underlings $79 billion in stimulus money at a higher interest rate than the fed, but on the condition that they loan it to small and medium enterprises and forgive their late payments so that economic damage is reversed and production can recover quickly. Federal reserve stimulus money, in contrast, has no strings attached, and in 2009 banks used their money to compensate CEOs and shareholders who helped create the economic crisis while they retrenched on loaning to firms struggling to get by. There are numerous problems on all sides in this equation, but the fed could at least try and fight abuses by recipient banks who burn through their capital by paying shareholders more than they earnings justify through a countercycle capital buffer. It won’t.

Next week, the Chinese state will be unveiling a thorough relief plan that will likely include sending households no strings attached money and a boost in subsidies to save small businesses, which will reboot consumption and production.

This strategy, along with a massive infrastructure program, was deployed during their 2008 global financial crisis, which China recovered from much more quickly than liberal capitalist nations. China’s swift recovery restored their extremely high growth rates and helped raise other nations around the world from sinking even deeper into economic malaise.

Neoliberal economists criticized the 2008 Chinese state’s effort by claiming the program would incur debt. This is true, China’s debt to GDP ratio is currently 47%, but the US is in a much worse situation, where debt is over 100% of our GDP. In America, where 10% of the population owns 80% of all stocks, the growth spurred by money injections benefits fewer people .

In a country where 25% of the population is afraid to see a doctor due to the cost and the government is unwilling to implement a total travel and immigration ban, it’s clear that our system is a house of cards waiting to get coughed on. Wall Street and Goldman Sachs are the disease, not the cure.

(Republished from National Justice by permission of author or representative)
 
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  1. I’m sorry, the fed manipulating financial markets is part of a free-market economy how exactly?

  2. I would suggest it’s ‘crony-capitalism’ that is the disease. And the guy in the picture, from Goldman Sachs and now in the govt but probably heading back to Goldman after, is just more evidence.

  3. You should say FINANCE CAPITALISM is the disease.

    • Agree: Malcolm X-Lax
  4. MBlanc46 says:
    @Sherlockohms

    What other kind is there?

    • Agree: Dutch Boy
    • Replies: @Dutch Boy
  5. fnn says:
    @Platonometrics

    Where does he say anything about the “free-market”?

    • Replies: @Wally
  6. The wheels started to come off around the turn of the century as EROI of energy sources collapsed. Capitalism vs. Socialism is totally irrelevant in this context. Striker’s five year plan Commisars would be corrupt and flailing around all the same. Sometimes there are no solutions.

    • Replies: @Culpepper
  7. anarchyst says:

    Wall street sees “labor” as being a necessary evil, its true value to be minimized at all cost while valuing the CEOs and “stockholders” above and beyond their true worth.

    This even applies to CEOs, that run their corporations into the ground while still receiving massive “rewards” for their “expertise”.

    Let’s not forget the corporate vultures (a la Mitt Romney) that specialize in parting out viable businesses in order to maximize their “profits”

    Henry Ford “got it right” when he CREATED a market for his cars by making them inexpensive while paying his workforce a decent wage. He realized that a well-paid workforce would be able to buy his products, among other things. It could be safely argued that Ford, CREATED the middle class. Automobiles, once “playthings for the rich” were made affordable for the “ordinary common man”.

    Henry Ford KNEW who the banksters and vulture capitalists were and made no bones about calling them out and naming them, Father Charles Coughlin did the same thing and was ostracized by the Catholic Church for pointing out the TRUTH about our vulture capitalist society.

    “Vulture capitalism” can be defined as the owners of businesses and industries that collude with each other, also in collusion with the “money types” (banksters) depressing wages solely to increase their stockholder “profits” at the top while impoverishing those who actually WORK, producing their products.

    All one has to do is look at today’s CEOs, even in failing companies, being paid exorbitant salaries, along with stock options and other “perks” while pleading poverty, pushing down wages for their employees.

    Today’s capitalist “mantra” is that labor costs must be as cheap as possible while the “value” (profit) to the stockholder must be as great as possible. Sacrificing labor on the altar of “maximum profits” NEVER works in the long term.

    Of course, in the short term, with cheap Chinese goods flooding the market, the economy looks, good, but without CONSUMERS who hold jobs that pay reasonably well, all bets are off. There needs to be a balance between profits and labor.

    Presently, labor is looked upon as a “necessary evil” to be minimized at all costs. The problem arises-without labor there are no consumers. As I previously stated, a “balance” must be maintained. Labor is not evil, but a necessary component of capitalism.

    Pre-WW2 Germany’s economic successes and the rapid rise of the German economy was predicated on labor being assigned “value”and monetized-something that is (and has been) missing in capitalist societies today.

    If labor costs need to be trimmed to assure “profit” at the top, something is seriously wrong. In fact, in the well-paid American automobile industry, labor costs account only for approximately 10% of total costs.

    Offshoring production results in consumers (customers) being “lost”.

    As to “tariffs”, the American country ran on tariffs from its inception until 1913, when the “income tax” and “federal reserve” was established.

    The American economy is being propped up by the “social safety net” which obscures the TRUE economic situation in the U S .

  8. As to “tariffs”, the American country ran on tariffs from its inception until 1913…

    No, the federal government was run on tariff revenue, not “the American country”, whatever that may be. And much to the chagrin of Dixie.

    …when the “income tax” and “federal reserve” was established.

    To the cheers of Dixie.

    • Agree: anarchyst
  9. anon[296] • Disclaimer says:

    Fed buys gov securities from bank ,hedge fund ,and from corporations. They sell same stuff . Expanding and contracting money supply. But what happens to these securities values?

  10. Eric Striker Is pathetically ignorant about economics. the current system means that governments have basically subcontracted running of the economy out to the banking system, The current system is nothing to do with the free market or capitalism it is central planning by government central banks. Government creates legal tender abolishing the gold standard which is free-market money, government then creates central banks to oversee the banking system and gives them immunity from the criminal law governing counterfeiting. The government central bank controlled banks then control the entire economy through creating money out of thin air, affecting all price relations i.e. the relation between workers wages and asset prices like housing for example and determining the investment structure of the economy which becomes dependent on the flows of newly created money from the government controlled central bank controlled banking system. There’s no free-market capitalism in there I’m afraid. Government then creates a free public education system which results in people like Eric Striker. ridiculous

  11. Uncle Sam says:

    Capitalism is usury. It means making money from money thru interest and dividends, primarily compound interest. It is a ripoff.

    It was Karl Marx who conflated capitalism with a market economy. You can have a market economy without capitalism. The Hanseatic League which existed for 300 years before the rise of capitalism is a good example of such an economy. In fact, market economies go back to the ancient Sumerians of 4,000 BC.

  12. Wally says:
    @fnn

    If it’s not a free-market then it’s not “capitalism”.

    Stiker blundered in describing it as “capitalism”.

    capitalism:
    An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market.

    • Replies: @Realist
  13. @Platonometrics

    Markets need price discovery, which can only exist in the absence of moral hazard, such as the Fed’s distortions.

  14. @Uncle Sam

    Markets were invented by the first woman whose baby daddy failed to return from the hunt with dinner for the kids, effectively pre-dating Sumer, most likely.

  15. @Sherlockohms

    Capitalism is not your father’s shoe store. It’s not your wife or girlfriend selling LuLu Lemon leggings. It’s not yourself going to the flea market and finding things to sell on Ebay. Those are all examples of small commerce, free trade, not capitalism.

    Capitalism is things like stocks, and someone having no idea what they’re invested in, so you have CalPers, the retirement agency taking care of the retirements of thousands of janitors and real-life Mrs. Grundy’s and Mr. Weatherbee’s, and investing it is all kinds of unethical shit. It’s your grandmother keeping her money in Bank Of America because it must be good, it has “America” in the name, and B of A investing in snuff films. Capitalism is someone pushing a button and they make money, and people on the other side of the world die.

    • Thanks: obwandiyag
    • Replies: @Stonehands
  16. President Trump just did something progressive. He suspended interest on student loans.

    https://www.foxnews.com/politics/trump-waives-interest-on-federally-held-student-loans-until-further-notice

    He should limit usury. Banks borrow from the Feds at 0% and charge an average of 22% on credit card debt. Maybe limit it to 18% that was law before the 1980s, or even lower?

  17. Biff says:
    @Platonometrics

    FYI, the Fed is privately owned.

    • Replies: @Realist
  18. TKK says:

    Steal a car- go to prison.
    Steal a few million pension funds- get a White House Cabinet position.

  19. gotmituns says:

    We need another Andy Jackson again?

    • Replies: @Kim
    , @Just Passing Through
  20. Cyrano says:

    The capitalist ideology (if socialism and communism can be “ideologies”, I don’t see why capitalism can’t be an ideology too) is actually very simple and basic. The capitalist ideology can best be summed up as: How to creatively separate someone from the money that belongs to them and which they’ve rightfully earned.

    • Replies: @Kim
    , @Spanky
  21. slorter says:
    @Platonometrics

    Free Market !!!! What planet do you live on!

  22. slorter says:
    @Sherlockohms

    There is mum’s a dads capitalism ! Then there is the casino corporate predatory capitalism which infests our society!

  23. slorter says:

    Good article ! Neoliberalism needs to be put in the bin and tightly sealed so it never rises again!

  24. @alex in San Jose AKA Digital Detroit

    IOW, jew finance- making money from money. Did you see the last 15 minutes today? The DOW crack addicts mainlined more FED billions to the tune of a 1000 points after Trump guaranteed perpetual loans. (QE infinitum)

    • Replies: @Dumbo
  25. Kim says:
    @gotmituns

    We need another Andy Jackson again?

    At the very least to deal with those pesky Injuns again.

    • Replies: @gotmituns
  26. Fatidicus says:

    The “free market” is fake and based on liberal assumptions about power. An economy can be controlled either by a governmental mafia, which hopefully is on your side, or by a private mafia driven by their self-interest.

  27. Kim says:
    @Cyrano

    The capitalist ideology (if socialism and communism can be “ideologies”, I don’t see why capitalism can’t be an ideology too) is actually very simple and basic. The capitalist ideology can best be summed up as: How to creatively separate someone from the money that belongs to them and which they’ve rightfully earned.

    Wrong “ism”. You’re thinking of judaism.

  28. Striker’s articles always bring out the “well actually” crowd here at UNZ who take the opportunity to ignore the larger concern raised in the article and opt instead to “set us straight” on the real meaning of “anarchism” or “capitalism.”

    “Striker isn’t talking about blank, blank hasn’t actually been tried!”

    It’s got to be discouraging for the guy.

    • Agree: bluedog
    • Replies: @utu
  29. jay says:

    Our usury laden fractional reserve banking. And privately owned federal reserve established in 1913 isn’t exactly capitalism or at least capitalist as it should have worked.

  30. All the experiments with Communism / Socialism and the various sub-versions of it have also failed.
    No system is perfect but the one which comes closest to serving all societies is Free Capitalism.
    Today’s version is somewhat tainted by the diseased part of Capitalist system =(Cultural Marxists) = a Social cancer on any system

    • Replies: @Curmudgeon
  31. Spanky says:

    …the fed could at least try and fight abuses by recipient banks… — Eric Striker

    Not to put too fine a point on it, but you’ve got the relationship reversed. The “recipient banks”, for the most part, own “The Fed”. Management does not dictate terms to the owners. Ditto for politicians.

  32. Spanky says:
    @Cyrano

    Having read The Wealth of Nations, once, long ago, have a small quibble with your definition:

    Financial capitalism can best be summed up as: How to creatively separate someone from the money that belongs to them and which they’ve rightfully earned.

    Which is proof that any good thing can be corrupted over time and turned to shit for everyone, except a chosen few.

  33. horace says:

    Central banks manipulating interest rates and bailing out companies has nothing to do with free-market capitalism. Neither does their constant demand-side stimulus (favored by left-wing economists), which fuels debt and depletes savings. China’s 2008 stimulus package (also favored by left-wing commentators like this one) created a debt problem which they didn’t have before.

    There are plenty of capitalist systems around, but they are mostly in Asia, not the social democracies of the West. Take Singapore for example. Their central bank does not manipulate interest rates, they have high saving and investment rates, low debt, no minimum wage or other pro-labor policies. The government has high reserves and small debt, low spending, low taxation.

    • Replies: @Spanky
  34. @Carlton Meyer

    Totally agree, re usury.
    I’d suggest a cost + contingency + % limited profit type of funding. That is, every loan has a real cost to the lender (usually its cost to acquire the money plus any admin fees etc). Then each loan has a (for want of a better expression) a danger of loss component: ie loans with differing types of collateral, no collateral, statistical possibility of non payment etc etc. Plus, then a very limited profit component (say, 2%).
    There would still be room for competition ie via efficiency differences etc.
    Its ok to keep dogs, but they need to be trained & to respect their real owners — the public, the nation etc.

  35. Culpepper says:
    @bobbybobbob

    what is an EROI?
    I have used Google but can find no definition that fits

    • Replies: @another fred
  36. Parfois1 says:

    Steal a car – go to prison. Steal a few million pension funds- get a White House Cabinet position.

    Your quote above illustrates what Capitalism does – it converts the commons (labour and resources as the social forces of production) into private property; hence my short definition of it: a racket to convert the commons into private profit.

    Of course, the capital-less capitalists are out in force to defend Capitalism using the usual trick: true Capitalism has been distorted because imperial capitalism, financial capitalism, global capitalism, vulture capitalism, predatory capitalism, zombie capitalism, fascist capitalism, democratic capitalism, progressive capitalism, neo-liberal capitalism, anarcho-capitalism, laissez-faire capitalism, free-market capitalism, cutthroat capitalism, monopoly capitalism, hyper-capitalism, comprador capitalism, Mafia capitalism, Jewish capitalism, Ponzi capitalism, Bolshevik capitalism, crony capitalism, corporate capitalism, managerial capitalism, state capitalism, radical capitalism, welfare capitalism, natural capitalism, slavery capitalism… (have I missed any?) are not REAL Capitalism, which has not yet had a chance to thrive !

  37. Chinaman says:

    Let’s get something straight.

    Almost every single dollar that exist originated as someone debt. No debt, no money. This vitriol against the Fed and Goldman demonstrates a fundamental misunderstanding of the monetary regime. It is totally irrational and unhelpful to be angry about monetary system..especially when you are not offering an alternative.

    The problem now is that the money is not trickling down to the proles.

    The solution is inflation.

    We will get later in this decade as the China becomes more expensive and US disengages from China.

    Automation and the introduction of a 1 billion high IQ and much more productive Chinese in the global economy is causing the relative decline in the 2 digit IQ portion of the population,

    Simple as that.

    Inflation will address the symptoms of income stagnation but it will not fix relative decline in the US.

    How can a population that consists of 60% browns and blacks beat China ???

    • Disagree: Spanky
    • Replies: @Just Passing Through
  38. @Carlton Meyer

    Being back the old usury laws! No more than 10% is sustainable.

    He’ll be COVID19’d by his bankster friends if he does that though.

  39. @Platonometrics

    Do you think that because it’s named “Federal Reserve” that the gov’t runs it? You might want to look into that before you make reflexive responses based on the ideological dogma you’ve imbibed. From the horses mouth “In addition, though the Congress sets the goals for monetary policy, decisions of the Board—and the Fed’s monetary policy-setting body, the Federal Open Market Committee—about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government”

    In simple terms for those lazy or dumb, it’s run by banksters. It’s a mostly autonomous entity run top down by uber wealthy elites. Just like most things in this country. Were I a betting man I would wager $10,000 some were also “aquainted” with Epstein et. al. the “free market” is an illusion. It never was and never will be. An indivual might be tenacious and ingenious enough to grab yourselves some scraps, but we plebs are always playing a rigged game.

    • Agree: Thomasina
  40. Hegar says:

    It’s hilarious how “Eric Stricker” conveniently ignores every single Social Democrat party in the West pushing for anti-White policies, mass immigration, outsourcing to give the Third World jobs, and every other policy. Every socialist teacher in Western Europe and the U.S., every socialist professor, push for this.

    Note he never uses the word cuckservative. That is the word we have used for fake conservatives, those who push leftist policies like mass immigration. He doesn’t want you to think of that. He pretends those are the real conservatives, while “socialism” is actually pro-White. (I grew up with Social Democrats all around me – you know, actual socialists. Their hatred of the White race is immense.)

    “Eric Striker” (not his real name) claims on Twitter that the Soviet Union would have worked if it had been Germans instead of Slavs. Apparently he has never heard of East Germany.

    “Eric Striker” says you should look to Jewish communist Bernard Sanders because he said he was against immigration once. (When everyone said it. Why no mention of Hillary supporting “some form of barrier” on the border, Obama saying illegals have to go back, and Biden opposing illegal immigration?) He wants you to be exposed to the communism he loves, but tries to twist it for you by claiming it’s ACKSHUALLY pro-White. No mention of communists being criminals who have never been pro-White.

    Eric knows how to adapt his communist dreams to his audience. If his audience (when using this name, instead of posting in RevLeft and other forums) is anti-Israel, he says that a failed private rocket launch in Israel proves that private production can’t deliver but the government can. Apparently talking about the U.S. space travels – full of cooperation with private businesses. But he hopes kids don’t know that.

    Eric praises the Left for buying votes with welfare parasitism. He laments that “we” (the Right he talks to, but doesn’t belong to) didn’t “invent it first”. This is simply an excuse for his own situation.

    Eric says that living on welfare is great: “The blacks do it and they seem to be happy.” This is again an excuse for his own situation. He simply wants to build an audience out of those who don’t want to study in school or work thereafter.

    Eric calls himself a Bolshevik. But he adds “Naz” before it, using the “Nazbol” oxymoron to make it more palatable. Apparently he dreams of the mass murder and mass rape that he missed out on.

    Eric hilariously claims that the Southern Confederacy was actually leftist, because it was the Democrat Party! Therefore you should be a leftist! (As anyone can see, the parties basically switched places since then. But he hopes teenagers don’t know that.)

    • Agree: Old and Grumpy
    • Troll: utu
    • Replies: @Curmudgeon
  41. Capitalism is just another word for book keeping.
    The disease must be something else. 😉

    Striker seems to agree, it becomes ‘liberal capitalism’ fast.

  42. Hegar says:

    Funny how “Eric Striker” picks a picture of Steve Mnuchin, knowing it will rattle this particular audience he is trying to reach now. He will never show the communists that ran the Soviet Union. Or mention the fact that Karl Marx, who he got the “capitalist” slur from, was a Jew.

    He claims that Jews “stole” communism which is apparently otherwise perfectly normal and actually “White.” A system where a few steal everything for themselves and keep everyone else as slaves. This is what he wants, saying the Soviet Union would have worked if it was Germans instead of Slavs. Apparently he is dreaming of being a commissar instead of being in his current situation.

    Just like Trotsky popularized “racism”, so did Marx before him popularize “capitalism” with the same intent. Take the part that is easiest to attack in nationalism, or the part the barely literate workers of the time would dislike the most – that investment could give returns to the investors – and make that the name for the whole thing.

    That we have private production, private selling and buying and ownership, private investment, is not “capitalism,” it’s something perfectly normal throughout history. The Indian tribes that don’t allow it are still small and starving in the jungle.

    Still waiting for when “Eric” will mention the little detail about his beloved communism being invented by Jews as a way to take control. Maybe he praises that – when writing under another name in certain other forums.

    We know he praises the DSA for everything except that pesky mass immigration and, you know, every cultural leftist policy ever. Which Eric claims are ACKSHUALLY invented by the Right, because LOOK AT THE KOCH BROTHERS! Don’t look away. Don’t look at the Social Democrat parties all over the West. Or at the teachers, the professors, or Hollywood. Look at the Koch brothers, people.

    Oh, and pretend that the leftist Jewish Hollywood bosses are ACKSHUALLY motivated by CAPITALISM because they work in private companies, instead of for the government. It’s his usual tactic – whatever leftists do that isn’t done within the government, can be blamed on “capitalism”. Never mind the cooperation with the government they praise and support, never mind tax money going to leftist NGOs. If it’s not a government department, it’s actually all motivated by capitalism!

    There will always be some kids who allow themselves to be fooled. And “Eric” only needs a small pond to be a big fish in. Hey, send some donations to the TRS podcasts that Eric takes part in, please! But THAT isn’t “capitalism,” you see. Now send the money.

    • Replies: @Amerimutt Golems
  43. Realist says:
    @Biff

    FYI, the Fed is privately owned.

    The FED is controlled by the POTUS.

    • Replies: @Eugene Norman
  44. wildbeard says:

    The federal reserve and the investment bankers are all of the same tribe which is neoliberal, globalist, Jews. They are just enriching themselves with this stimulus money. It has now become clear that we need to get our economy back from these people by doing away with the Fed and creating a new central based on some other structure.

    • Replies: @AZAZEL
  45. Realist says:
    @Wally

    capitalism:
    An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits gained in a free market.

    capitalism:
    An economic system in which the means of production and distribution are privately or corporately owned and development occurs through the accumulation and reinvestment of profits.

    FIFY

    • Replies: @Wally
  46. Realist says:
    @anarchyst

    Today’s capitalist “mantra” is that labor costs must be as cheap as possible while the “value” (profit) to the stockholder must be as great as possible. Sacrificing labor on the altar of “maximum profits” NEVER works in the long term.

    Of course, in the short term, with cheap Chinese goods flooding the market, the economy looks, good, but without CONSUMERS who hold jobs that pay reasonably well, all bets are off. There needs to be a balance between profits and labor.

    The American economy is being propped up by the “social safety net” which obscures the TRUE economic situation in the U S .

    Excellent points.

  47. onebornfree says: • Website

    “Capitalism Is the Disease”

    No, you frickin’ government brainwashed, commie moron, Striker, GOVERNMENT IS THE DISEASE!

    “Government  is a disease masquerading as its own cure”  Robert LeFevere

    “Because they are all ultimately funded via both direct and indirect theft [taxes], and counterfeiting [central bank monopolies], all governments are essentially, at their very cores, 100% corrupt  criminal scams which cannot be “reformed”or “improved”,simply because of their innate criminal nature.”   onebornfree

    “Taking the State wherever found, striking into its history at any point, one sees no way to differentiate the activities of its founders, administrators and beneficiaries from those of a professional-criminal class.”      Albert J. Nock

    No Regards, onebornfree

    • Agree: Agent76
    • Troll: Futurethirdworlder
    • Replies: @Futurethirdworlder
  48. gotmituns says:
    @Kim

    No, to deal with the lousy FED – he knew what to do.

  49. @Chinaman

    How can a population that consists of 60% browns and blacks beat China ???

    By excluding Chinese from all Western research gatherings and expelling all Chinese from position in sensitive industries?

    If the West falls, China will merely be able to sustain the level of innovation which the White Man brought to the world, they might get a few breakthroughs here and there but they are simply not capable of being creative.

    China is just a collection of well-organised mediocre people, their ‘high IQ’ really means nothing as 97% of the scientific innovations were brought about by those of European stock (and to be even more specific, those of Nordic blood). IQ is somewhat important but a 5 point difference doesn’t mean much, all it means is Chinese are *slightly* better at filling in the missing square that Whites, it does not mean they are capable of putting a man on the Moon, inventing new technologies and revolutionising the world, almost ll of China’s big companies only exist because of State protectionism, they copied Western tech and sold them to a captive market, because they knew their stuff was inferior.

    This is why China is still sending millions of students to the West, why are they coming to the universities of low-IQ Western countries when they could be studying at the universities of high-IQ China?

    It was just the White Man’s bad luck that the most parasitical race of people, the Jews, happened to look like them, allowing them to infiltrate into our societies and destroy it.

    • Replies: @Anonymous
    , @Barr
  50. @Giraffehead

    The fed is private. Not public. And you did little else to defeat Striker’s argument except to say that if only the fed were not controlled by government, which it isn’t, then we would have a free market economy ignoring the fact that even if the fed were government owned it would allow the rest of the country to be free market.

    But it isn’t a government bank. It’s a bankers bank run by bankers. Striker gave an example of the opposite: the government owned Chinese central banks mandating where the money should be lent to – in their case small businesses. A private bankers’ banker, like the fed, isn’t going to do that. Yes it was set up by congress but it isn’t government controlled. If it were then it could act like China.

    Then there’s the fetish about the gold standard, and the idea that this is in fact somehow more “free market”. In fact the gold standard was clearly a statist agreement between governments that restricted banks from the uncontrolled lending they would wish to do, and did eventually do when unrestricted. It was part of the post war Breton Woods agreement, along with Keynesian economics, that made the west powerful and rich. The subsequent neoliberalism has made us poorer and weak. That agreement included border controls, capital controls and most countries had extremely high taxes on income. The free marketers worked to tear it down.

    I don’t buy the distinction between financial capitalism and the “free market”; at this stage in America’s economic history the banks are a major part of the market and if left to their own devices (like running the fed) they will saturate the economy with massive credit to benefit their corporate friends and their stock buybacks. As for the corporations, also a product of the free market, they outsource because it makes sense to them to do so for their own profit. That’s also the free market, one of the first things taught in econ 101 is the benefit of trade and comparative advantage. Except of course, it doesn’t work for workers in already rich countries who are undercut in wages.

    Uncontrolled immigration is also a free market ideology. The standard economic model demands that capital moves where it wants, and labour moves where it wants. Only then,they say, can we realise a proper balanced market equilibrium which makes us all richer.

    All free market ideologies opposes tarifs, so if you want to stop Chinese goods and you want American goods or industry to prosper behind a wall of tarifs (as in the 19C) then you are not a free marketer. And when you realise that the US funded itself with tariffs in its first 100 or so years, you should realise that the 19C US wasn’t a free market either.

    You do have a point about the public education system in the US though, more showing than telling though

    • Agree: mark green
  51. @Culpepper

    what is an EROI?

    “Energy Return On Investment”, more often written as “Energy Return On Energy Invested”.

    • Replies: @Culpepper
  52. The problem is human crowding.

    Socialism (really tyranny by oligarchy) will provide the social controls to allow for more crowding, but will not persist due to the immiseration of the population.

    What are civil rights laws, hate crimes, and the rest of the work of Leviathan, but attempts to get people to accept neighbors they don’t want?

    Human crowding will decrease, either by the demographic transition, whereby people voluntarily have fewer offspring, or by the action of the usual – war, starvation, and disease.

  53. Spanky says:
    @horace

    Could it be that actual capitalism (note the small “c”) is a pro-labor policy?

  54. @anarchyst

    The American economy is being propped up by the “social safety net” which obscures the TRUE economic situation in the U S .

    And the economy, in its turn, is propped up by “growth” born of expanding credit.

    I must admit that I never thought they could keep the economy “growing” this long, but “growth” is definitely showing signs of finally ending.

    We live in interesting times.

    • Agree: Spanky
  55. The average Jew, a nebbishy noodge, has nothing to do with the Federal Reserve and would want to be rid off those bloodsuckers who are too willing to bring misery to the masses and infamy to the real McCoy!

  56. Surtr says:

    I am thinking Ken Galbraith was on to something when he spoke of countervailing power.

    “I react pragmatically. Where the market works, I’m for that. Where the government is necessary, I’m for that. I’m deeply suspicious of somebody who says, ‘I’m in favor of privatization,’ or, ‘I’m deeply in favor of public ownership.’ I’m in favor of whatever works in the particular case.”
    ~Ken Galbraith

    Immanuel Kant wrote the Religion within the Bounds of Bare Reason. Maybe the next book that needs to be written is Capitalism within the Bounds of Bare Reason.

    ~Surtr

    • Agree: utu, Futurethirdworlder
  57. Capitalism, national socialism, communism, fascism, and generic socialism are all gussied up ways to say bankers rule. The rest of the ‘ism is just a con on the little man.

    It is a darn shame free markets are being attached to capitalism. In a free market you are selling something you actually own to someone who wants to own it. Borrowing and loans are the capitalist way. Debt is and always be slavery. Hence you ain’t owning it.

    Another shame has been the corruption of stocks. Stocks were initially a clever way to get around the usury. Then the capitalists enter the game. Now it is a Ponzi scheme run by the central bankers.

    • Agree: Curmudgeon
  58. Anonymous[323] • Disclaimer says:
    @Giraffehead

    As they say, going back a few thousand years, Sutor, ne ultra crepidam. To paraphrase Alexander Pope, At first for critic passed, turned economist and proved plain fool at last. Well, that’s too harsh for Eric, but he should have had his article reviewed before venturing into finance and economics.

    If I understood his conclusion from skimming it, the idea of modeling the US on China in any respect shows a frivolous lack of understanding. Twenty years ago or so, as I recall, Bill Gertz reported that the Chinese army’s chief of staff stated for the English language press that China was planning on war with the US in around 2020, at which time internal collapse of morale in America due to its irreversible moral corruption, coupled with China’s accelerated weapons development, would tilt the battle field in China’s favor.

    This is no time for playing down the China threat and very much time for exterminating the moral threat to our existence given free rein by the MSM (=DNC) within our own borders. The kosher-owned left within America has already beaten China to the punch in making war on America and will be a much harder occupation task master under scum like Sanders than under Chinese mandarins ruling from Beijing. Unless we first eliminate this internal enemy from the pages of history and do it soon, the Chinese will roll over us like a tsunami.

  59. Eric Striker strikes again! Keep ’em coming, brother.

    The Chinese government’s pandemic recovery plan demonstrates why they have gone from a developing nation to economic peer of America in such a short period of time. Their command economy is unstoppable and makes the pencil necked Jew economists that invented neoliberalism look like fools.

    So true. Although I’m sure you’re aware that those pencil-necked Jews have done alright for themselves just the same.

    Next week, the Chinese state will be unveiling a thorough relief plan that will likely include sending households no strings attached money and a boost in subsidies to save small businesses, which will reboot consumption and production.

    You can do this kind of thing without a Fed, people. It’s called Modern Monetary Theory.

    This is true, China’s debt to GDP ratio is currently 47% …

    Well, it’s a half-truth. China also happens to be–simultaneously–the world’s largest creditor. In fact, the only entity on earth that holds more US T-bills than the Chinese government is the Fed itself. Moreover, unlike the US, virtually all of China’s debt is sovereign–that is, NOT held by a foreign counter-party. Indeed, the bulk of China’s debt consists of money lent by state-owned banks to state-owned corporations. So it’s just like me moving a ten-dollar bill from my right pocket to my left pocket, claiming that I now ‘owe’ myself ten dollars!

    BOTTOM LINE: Modern China has found out how to use Jewish money tricks to benefit their own, rather the Jews. And the Jews are pissed! So remember that the next time you read some specious article in the WSJ talking about how China’s growth is all a ‘mirage’ sustained by debt alone (they somehow always forget to mention China’s immense trade surplus!). That’s just the envious–and invidious–Jew talking.

    • Agree: mark green, Parfois1
    • Replies: @Just Passing Through
  60. Readers may notice how banksters like Mnuchin, Dimon, Blankein and Gary Cohn who destroyed the economy always express deep patriotic love for the Pentagram. Military spending means vast profits for the rich. The biggest Ponzi scheme/Potemkin village in history, sold to Patriots with zero analytical abilities.

    The mafia class is using the pandemic to destroy social security and “evil” education instead of cutting military spending by 80%.

  61. Spanky says:
    @Parfois1

    The problem is greed… one of the seven deadly sins.

    Private property, and its accumulation, is the heart of capitalism. And private property spans the length and breadth of human existence — we shouldn’t forget that even now some humans are considered property (slavery by another name). So, like many things, the limits of property ownership is a community determination. It’s Job #1 in fact.

    Woe to any community if Job #1 is ever handed over to the most ruthless and relentless accumulators among them. It’s not possible to change human nature — greed will always be with us — but it is necessary to limit its reach to protect all else the community holds dear.

    Steal a car — go to prison.
    Steal a few million pension funds — get a White House Cabinet position.
    — TKK

    [The] quote above illustrates what Capitalism does – it converts the commons (labour and resources as the social forces of production) into private property; hence my short definition of it: a racket to convert the commons into private profit. — Parfois1

    I fail to see any conversion of the commons to private property in TKK’s quote (both are simply theft), and do not consider that my labor, in particular, is part of the commons. Why? If my labor is a community asset then who, exactly, gets to enjoy its fruits?

    If anyone else can claim my labor for themselves, be it a person or the entire community, then I am nothing more than their slave.

  62. utu says:
    @Futurethirdworlder

    Striker’s articles always bring out the “well actually” crowd

    Mostly they are lolbertarians who by definition of libertinism are primitive ideologues thus they can’t see reality from semantics and signs that are used to describe it. They are ready to die defending the word ‘capitalism’ itself or the phrase ‘free market’ itself.

    • Thanks: bluedog
    • Replies: @Jim
  63. DaveE says:
    @Priss Factor

    This comment nails it, thank you. Industrial capitalism is competition of ideas, innovation and maybe who owns the best machines to produce the best products. Finance capitalism is nothing but competition of the most ruthless mobsters to steal the fruits of labor’s enterprise.

    Equating “capitalism” with predatory finance swindling and gambling with other people’s capital is dangerous and leads to naive idiots spouting the “virtues” of communism / socialism, which is even worse.

    • Agree: Mefobills, Malcolm X-Lax
  64. utu says:
    @Parfois1

    “Of course, the capital-less capitalists are out in force to defend Capitalism using the usual trick”

    Lolbertarians the useful idiots of oligarchy.

  65. I believe it was Mussolini who observed that when the State is in cahoots with Capitalists you get Fascism. We are presently experiencing an engineered Coronavirus pandemic designed and executed by Globalists, there is no point in blaming the US, China ,Iran or any other particular country for the outbreak ,it is a distraction,in the long run it benefits the authoritarian/fascist regimes in place in most of Western Europe and Asia . The agenda behind the pandemic has been revealed to us and the citizenry ,scared by the hysteria generated by the massmedia[owned by global corporations and the 8-12 families who control and own the vast majority of the World’s assets) ,will willingly go along with the items on the agenda.

  66. Agent76 says:

    The fiat global central Banking system is not Capitalism.

    Nov 22, 2013 Thomas DiLorenzo – The Revolution Of 1913

    From the Tom Woods show Loyola economics professor Thomas DiLorenzo discusses three events from 1913 that greatly escalated the transmogrification of America from the founder’s vision (limited government) to its current state (unlimited government).

    May 1, 2019 Bank on the People Instead of Wall Street Parasites

    The U.S. federal debt has more than doubled since the 2008 financial crisis, shooting up from $9.4 trillion in mid-2008 to over $21 trillion in mid-2018 and in excess of $22 trillion in April 2019. This debt is never paid off. The government just keeps paying the interest on it, and interest rates are rising.

    https://truthout.org/articles/bank-on-the-people-instead-of-wall-street-parasites/

    May 21, 2013 Why the whole banking system is a scam

    Godfrey Bloom MEP • European Parliament, Strasbourg, 21 May 2013 • Speaker: Godfrey Bloom MEP, UKIP (Yorkshire & Lincolnshire)

  67. AZAZEL says:
    @wildbeard

    It appears that this tribe has some kind of inheritable trait that makes them fit for dealing (and unavoidably stealing) with money! The are attracted to gold like flies sitting on manure ………

  68. Dumbo says:
    @Stonehands

    But why is the stock market so important that we need to subsidize it ad infinitum? Granted, even someone as poor as I has some exposure to the stock market these days, but, wouldn’t it be better to just let Wall Street crash and burn, and use federal money, I don’t know, to improve hospitals or buy some corona-detecting kits, things like that? Even just paying people to stay at home would be more useful than to throw it at the Wall Street sharks.

    • Replies: @Digital Samizdat
  69. @Parfois1

    Agree. Didn’t Marx write somewhere that capitalism had within it the seeds of its own destruction? Maybe it’s already destroyed but nobody noticed. It’s amazing to see how many support a system which hardly benefits them except the very few at the top getting richer at the expense of everyone else. Their solution seems to be to go and slave some more for the greedy corrupt bosses and that you’re a “loser” if you don’t. Or to go bankrupt while wasting your time setting up some small business to try and compete with the big boys who’ve got it all sewn up and have rigged the system in their own favour – only their own, no outsiders wanted, welcomed, or allowed. The bosses must be grinning to see how many supporters they have on UR regurgitating their mantra, and to them this whole lot are “losers” anyway. SMDH.

    Don’t let the detractors dissuade you Eric. They complain that Eric hasn’t got a solution but what is theirs? More of the same means fewer richer at the top and more poorer below as time goes by. And the vast majority will be going down not up.

    • Agree: RadicalCenter
  70. @Realist

    The POTUS does not control interest rates. In fact trump has clearly criticised the Fed a few times last year. The position is appointed but the president can’t remove the governor. The fed is not government owned.

    The private fed is pretty much controlled by the banking class; there’s a clear nexus between the executives of the big banks, hedge fund owners, and the board of governors. Occasionally you get an academic but mostly it’s bankers. It is their bank.

    What’s going on here is an inability to accept that the free market post Keynesian economic system is failing. The argument then becomes more of a logical fallacy akin to no true Scotsman – the free market is failing because it isn’t really the free market. This despite the fact that all of the pathologies of the present system are clearly a product of the neo liberalism that replaced the Breton woods agreement, and it was free market ideologues who wanted rid of the gold standard. Facts don’t matter though.

    ( Nor do most of the pro free marketers understand how money is created either, it’s the retail and commercialbanks not the government or the Fed who create most of the broad money in the economy).

    So let’s say we “privatised” the fed. Even more than now. Some need for a central bank would exist as the banks need a store for their reserves and a lender of last resort etc. How would that totally privatised fed act? Exactly the same.

    • Replies: @Realist
    , @flashlight joe
  71. The Chinese system in the hands of our hostile elites would still be a disaster. The elites are the problem, and no system would work under their control.

  72. @Digital Samizdat

    Please explain why Clinton’s Jew saturated administration sent all the manufacturing jobs to China, and why this process was kick started even before that with Nixon and Jew Kissinger?

  73. On this planet, there’s only hybrid or mixed economies left: public + private spending, in EU typically 50% – 50%.

    So since USSR-China failure in communism/socialism, state central planning economies is obsolete.

    It’s mixed. Typical markets:

    neccesity goods&services = Gov regulated/enforced maximum prices. Like Medicare4all.

    Luxury goods&services = free international, private enterprises set prices, which deflate over time, due to technogical advance.

  74. Capitalism Is the Disease

    There is no capitalism in America anymore; it took off for the moon after the Second World War
    and Nixon going off the gold standard in 1971.

    What we got here is central banker shysterism. You can’t have any type of thing called this so-called “capitalism” with a debt-based fiat currency system. Maybe you can have so-called “capitalism” with a partial gold standard — which is what we had before Ohio Boy by way of California Tricky Dick Nixon told the French Frogs to phuck off when they demanded gold for dollars. I think the cheeky French Frogs sent a French destroyer to pick up their gold. Nixon said screw you, Frenchy. The Germans told the French to piss off by printing up loot to pay war reparations from WWI and Nixon told the French to piss off about exchanging the French dollar reserves for beautiful GOLD.

    Vote For Marine Le Pen And National Rally!

    God Bless The French!

    Especially God Bless all you beautiful French ladies in New England and Quebec and in France.

    The White Core America Party — the new political party that will destroy the first-past-the-post two-party tyranny of the USA — has called for all Americans born after 1965 to secede from all government debt. This sovereign debt secessionism shall save hundreds of trillions of dollars for Americans born after 1965. All private debt shall be immediately extinguished and all student loan debt shall be immediately extinguished. All student loan debt ever repaid shall be payed back to the borrower plus 6 percent a year in lost opportunity costs. If you paid your student loans you’ll get all that loot back plus 6 percent a year. That might calm the bitterness over outstanding student loan debt extinguishment.

    White Core America will also use the Pewitt Conjured Loot Portion(PCLP) to fork over ten thousand dollars a month — tax free — to all American citizens with all four grandparents born in colonial America or born in the USA before 1924.

    The Pewitt Conjured Loot Portion(PCLP) shall use the Federal Reserve Bank to benefit the ancestral core of the historic American nation.

    It is vitally important to box out and forcibly deport all bankers and the Pewitt Conjured Loot Portion will immediately terminate the ability of nasty and evil and immoral bankers from clam raking the Hell out of the workings of the debt-based fiat currency system.

    All bankers shall be forcibly exiled to concentration centers in sub-Saharan Africa. Of course the bankers will be financially liquidated before their one way trip to sub-Saharan Africa, and all proceeds from said liquidations shall go to voting members of White Core America.

    What would William the Conqueror do? That must be the guiding inspiration of the new political party called WHITE CORE AMERICA.

    Back to blood would look around at some of our old stocker Blacks and admit that plenty of them have Norman and Saxon and Celtic ancestry and how they got it is best left unsaid. But the old stocker Blacks in the USA get the ten thousand dollars a month — tax free — from the Pewitt Conjured Loot Portion(PCLP) and Barack Obama and Kamala Harris ain’t no ways eligible for the PCLP so those mugs ain’t getting it!

    White Core America Immigration Policy Pledge:

    IMMIGRATION MORATORIUM NOW

    DEPORT ALL ILLEGAL ALIEN INVADERS NOW

    FORCIBLY REMOVE ALL FOREIGNERS

    FINANCIALLY LIQUIDATE AND THEN FORCIBLY EXILE ALL BILLIONAIRES AND UPPER MIDDLE CLASS WHITE GLOBALIZERS

    WHITE CORE AMERICA RISING!

    • Thanks: Agent76
  75. @9/11 Inside job

    FASCISM : TIME magazine – “China’s draconian lockdown is credited for slowing Coronavirus . Would it work anywhere else ?” Well the draconian lockdown is being rolled out in the US and elsewhere and soon governments will praise it for preventing many infections and deaths , citizens will breathe a sigh of relief and gratefully will agree to and accept more surveillance , more censorship, mandatory vaccinations, globalization, a cashless society(after all cash can spread viruses, less freedom of movement and assembly .

  76. @Parfois1

    The one that you missed is mercantilism; the government managed system of privilege for a certain actor or group of actors. The British model so loved by Hamilton et al, included such actors as The East India Company.

    Mercantilist policy ultimately results in the creation of central banking entities such as the BoE and the FRS.

    • Replies: @Mefobills
  77. jsigur says:

    Corporate Capitalism invented around 1600 is a Jewish construct. Imagining capitalism without Jews at the top really makes it something else

    • Replies: @Mefobills
  78. Realist says:
    @Eugene Norman

    The POTUS does not control interest rates. In fact trump has clearly criticised the Fed a few times last year.

    And the FED lowered the interest rates…not a coincidence.

    The position is appointed but the president can’t remove the governor.

    But he sure as hell can humiliate him until he quits.

    This despite the fact that all of the pathologies of the present system are clearly a product of the neo liberalism that replaced the Breton woods agreement, and it was free market ideologues who wanted rid of the gold standard.

    Yes, a terrible mistake for the country…but a boon to those who love fiat money…the rich and powerful. In other words those who control the FED.

    So let’s say we “privatised” the fed. Even more than now. Some need for a central bank would exist as the banks need a store for their reserves and a lender of last resort etc. How would that totally privatised fed act? Exactly the same.

    So let’s say we eliminate the fed.

    • Replies: @Eugene Norman
  79. @9/11 Inside job

    Authoritarian regimes in Western Europe? Where I live i never see a cop and wouldn’t depend on them to do much if I did need em; but even if they did arrest somebody the judiciary wouldn’t convict. But then it’s safe.

    The US has something like 10 times the prisoners per capita than the Western European country where I live, not all that surprising as it has the highest incarceration rate in the world. Followed not too closely by Russia. China has 7 times fewer per capita.

    Play with those stats how you will but the US is clearly more authoritarian than pretty much anywhere else. It’s the world’s largest police state. The world’s largest prison camp.

    This shows another problem with libertarian “thought” – it looks at Europe and sees state mandated social welfare or government healthcare and with some vague half remembered or second handing reading of Hayek it sees this as a “road to tyranny”, meanwhile the world’s exemplar state of neoliberal low taxation and financialsed capitalism gets a free pass for jailing more people than the rest of the major democracies combined.

    • Agree: Parfois1
  80. Mefobills says:
    @Carlton Meyer

    He should limit usury. Banks borrow from the Feds at 0% and charge an average of 22% on credit card debt. Maybe limit it to 18% that was law before the 1980s, or even lower?

    Usury is more than just high interest.

    Usury is a power relation, typically where a creditor abuses a debtor. Usury can come in many forms.

    For example, during the gold era, holders of gold coins would retreat and hide during depressions. The makers of goods, especially perishable goods, would desperately sell their perishing items at below cost. Why? Because the holder of gold had something that was shiny and didn’t rust, while the maker of goods had items that rusted and degraded.

    The mismatch between gold holder and goods seller created a power relation, where creditor (the gold holder) would exploit the weaker party.

    Another example is a debtor going to a bank, to then sign a new debt instrument, to then have new bank credit created. The bank then creates various forms of insurance in the form of derivatives, to then make even more money on your debt instrument. This scheme involves shifting risk onto the general public in the event of an inevitable crash.

    The hypothecation event described above has several layers of usury, where a power relation is formed by the creditor, and risk is attached to the debtor.

    Think of it as a heads I win, tails you lose scenario, where the playing field is tilted. The tilting is done by an in-group hatching schemes in dark smoke filled room.

    This hatching of usurious schemes in China still happens, but less-so than in the West. Why? Because China owns their own state banks. Striker mentions loans from the state banks that channel in such a way to put purchasing power into the hands of regular Chinese, to then given them immediate purchasing power.

    Finance Capitalism is basically usurious, where participants in the game, try to make money with money. Money in fact is sterile, it doesn’t reproduce itself. Finance Capitalism is deeply Jewish in thought and construction. Striker refers to them as pencil necked neo-liberals. He is not far off of the mark.

    China operates a INDUSTRIAL CAPITALIST system, which they learned from America. America lost its American System of Economy after 1913.

    Industrial Capitalism channels state credit into the commons and industry. This is a PRODUCTION SYSTEM, where money matches the production of goods and services. Also, China channels new credit into INDUSTRY, where it then improves said industry. China also CHANNELS, new state credit into the commons, thus improving the lot for all Chinese, improving their labor value.

    Vulture capitalism is a subset of Finance Capitalism. People like the Jew Paul Singer, of Elliot Management, would be a vulture. He practices usury by buying up Sovereign Bonds for cheap, then extorts the sovereign country to pay face value of said bond. The power relation is Singer using his Jew buddies in the legal system, to then apply injunctions against the target country. Then the U.S. military is used as a threat to force payment.

    Most of the Hedge funds are usurers. Hedgers buy up companies using borrowed credit from their bankster buddies. They then part out a target company, selling off parts and pocketing the “profits.” Oftentimes, the companies pension funds are grabbed, and older workers are booted out onto the streets, denied their retirement.

    So, USURY is not just the taking of high interest, it is a power relation. Rents, unearned income, and sordid gain are subsets of usury.

    Finance Capitalism is a usury system. Usury as a term has been normed out of our language, on PURPOSE, and by the (((usual))) suspects – who are agents of mammon.

    Usury is a fire in the mind, where people want to get something for nothing, and they insist that money can be made from money, when money is actually sterile. Generally, people that hold this world view cannot be dissuaded from it, because money has become their god.

    It isn’t money that makes money, it is the production system that makes wealth, and money is only a marker for wealth.

    China’s production system is already very efficient, as they operate the former American System of Industrial Economy.

  81. @Just Passing Through

    This websites racialization of the “hostile elites” makes little or no sense. The capitalist class and previously the feudalist classes in western, particularly Anglo, society have always been hostile elites. They didn’t need to import any.

    And again we get the utter nonsense about removing the gold standard being anti free market when it was people like Milton Friedman who pushed for it, and it is his world we live in.

    • Replies: @OilcanFloyd
  82. TRUMP IS A FAT ASS BABY BOOMER GLOBALIZER SOCIALIST !

    President Trump does not believe in this phantom concept that some boneheads refer to as so-called “capitalism.”

    Trump has played around with Playboy Bunnies and Debt his whole damn baby boomer life. I like the one with the Scottish name who posed on the beach naked — although she posed very, very demure like and all interesting bits were well-covered. I like that one and the miss Arkansas one that Bill Clinton was banging. She somehow got a TV show from the Hollywood crowd. Miracles!

    Trump is using his power as president to buy up oil to bail out the banker wankers. Banker bastards got loot from the debt-based fiat currency system of the privately-controlled Federal Reserve Bank and they dumped piles of that cash on the oil and gas guys. Now the oil and gas guys got their tits in a wringer because of the oversupply of energy and the subsequent price drop and they’re going belly the Hell up.

    Here comes GLOBALIZER SOCIALIST Trumpy to bail out the evil and immoral and money-grubbing banker bastards by bailing out the oil and gas guys so the oil and gas guys can pay back the loot they owe to the bankers.

    The oil and gas and shale and blasting sudsy sand grain guys went all out because the greedy bankers were dumping truck loads of cash all over the place and the oil and gas guys drilled like bastards and spent like sonsofbitches. Hey, sounds like the prior savings and loan real estate scam cleaned up by the government with the Resolution Trust Corporation. If you’re one of the guys who came out of the oil and gas bubble clean and financially solid and solvent, good for you.

    TRUMP IS A BABY BOOMER FAT ASS GLOBALIZER SOCIALIST SONOFABITCH!

    DAMMIT!

    Bail out American International Group(AIG) so AIG can repay those rancid money-grubbing scumbags who infest Goldman Sachs.

    Bail out those oil and gas guys so the oil and gas guys can bail out the bankers.

    TRUMP IS A BABY BOOMER BOLSHEVIK bastard who is screaming about flooding the USA with mass legal immigration “in the largest numbers ever.”

    Trump refuses to deport the upwards of 30 million illegal alien invaders in the USA.

    Trump is flooding the USA with guest worker foreigners and visa foreigners and H-1B visa foreigners and H-2A visa foreigners and foreigners on student visas and H-2B visa foreigners and every other kind of foreigner that Trump can grab and drag back to the USA. Many of Trump’s foreigners will have BAT SOUP FEVER and other infectious diseases.

    Trump is an evil and immoral politician whore for globalizer Jew billionaire Shelly Adelson.

    Trump is completely and totally controlled by JOG — Jews Organized Globally.

    Trump is a backstabbing Bolshevik bastard.

    Trump is not only a baby boomer fat ass socialist, but Trump is a GLOBALIZER BOLSHEVIK.

    On and on…in that manner… for quite some time…ranting and raving for fun!

    Tweet from 2014:

    • LOL: Mefobills
  83. Anonymous[263] • Disclaimer says:
    @Just Passing Through

    So… the way to compete with China when you’re 60% black and brown isn’t to get rid of the black and brown people, it’s keeping the Chinese out because that way they’ll never come up with anything on their own? I don’t think it’s possible to fix people as deep in the weeds as you. Judging by your righteous desire to keep niggerization right where it is, neither do you.

    • LOL: Jim Bob Lassiter
    • Replies: @Just Passing Through
  84. @anarchyst

    Brilliant comment, anarchyst.

    Kudos.

  85. @Realist

    Let’s say we actually nationalise the central banks, rather than “eliminate” the fed.

    The level of debate is so low here I don’t know what exactly you even mean. Banks can’t really operate in a modern economy without some clearing house, some bank to house the reserves of the commercial and retail banks, or to lend money as a last resort etc

    If you eliminated the fed as the partially government entity it now is, the banks would just create one again. That would be where we are now, as the fed does what the banks want, except libertarians would have intellectual cover left.

    As for the gold standard that’s clearly a government limit on lending, not the opposite. It has to be legislated for (or against).

    What banks in the free market want is the unlimited right to issue fiat money as they wish for short term profits. The reduction of controls over how banks lend – which is what removing the gold standard was – is the free market position and argued for by neoliberals and libertarians in the 70s, yet somehow government gets blamed and the banks and free market intellectuals excused when they get what they want.

    • Replies: @Mefobills
    , @Realist
  86. @Eugene Norman

    Play with those stats how you will but the US is clearly more authoritarian than pretty much anywhere else. It’s the world’s largest police state. The world’s largest prison camp.

    The prison stats vary wildly by race and it’s a myth that Blacks are locked up for smoking weed or driving without a taillight.
    https://www.politifact.com/factchecks/2019/feb/22/tony-evers/evers-claims-drug-crimes-prison-inmates/

    What are we supposed to do when Blacks shoot each other? Give them a ticket?

    Outsiders look at the stats and assume racism when the vast majority of Whites would love it if Black violence would end.

    To suggest that our prison stats are the result of an authoritarian state is absurd. What do you expect us to do? Legalize crime? In Black areas they have already lowered sentencing to where attempted murder is treated as assault.

    This shows another problem with libertarian “thought”

    Speaking of libertarian BS it’s the same Randian cult that pushes the myth that Blacks are locked up because of the drug war. In reality the problem is that Black men are shooting each other over stupid squabbles, domestic violence, drug robberies and running feuds. Watch First 48 to have an idea of what is going on.

    • Replies: @Mefobills
  87. @Eugene Norman

    This websites racialization of the “hostile elites” makes little or no sense.

    That may be the case where you live, but the elites in the U.S. are a different breed. They aren’t the old elites, and they are worse.

  88. Mefobills says:
    @Twodees Partain

    The one that you missed is mercantilism; the government managed system of privilege for a certain actor or group of actors.

    Mercantilism is the exporting of more goods than importation.

    There is an iron rule in economics, and that is that goods flow is to balance between nations.

    (Economics may be a dismal science, but there are iron rules – rules that are ignored.)

    China does operate the former American System of Industrial Economy, but they are also mercantile.

    During gold era of fractional reserve, bank credit rode on top of gold reserves in a 10:1 ratio. The ratio was actually higher… sometimes much higher, because banksters then and now, are liars.

    A mercantile nation would drain gold from trade deficit nation. Why? Trade deficit nation had to sell off their gold to pay for the imbalance in goods flow. Trade deficit nation lost their gold, rather than “producing” goods.” Trade still balanced, only it was mismatched as the mercantile nation grabbed gold from deficit nation. Imbalance in goods flow is made up by money flows.

    Meanwhile in the deficit nation, the 10:1 to 100:1 towering pile of unstable bank credit was undermined. Think of it as an inverted pyramid, where the bottom tenth is gold reserves, and the remaining 90% is bank credit. The pyramid is teetering on its point, ready to be knocked over.

    Loss of gold to mercantile country caused a levering effect where the lever ratio was at least 10:1. Many of the depressions of the past were caused by mercantilism, and the malformed inverted pyramid money system.

    Today’s malformed money system allows U.S. finance sector to fund mercantile countries like China and Germany, who want and need dollars as reserves, to then protect their own currency.

    This is why U.S. is a debtor nation and TRADE DEFICIT country. The finance sector of finance capitalism, exports dollars at debt to Industrial Capitalist countries like Germany and China.

    The end result is that the finance sector in the U.S. acts as a parasite, and hollows out the production economy of American main-street, extracting usury from the mouth of labor.

    Meanwhile, mercantile countries, can maneuver to grab any new technology or industry that is created in finance capitalist system of america, thus short circuiting american labor from any gains. (Power relation again!) Any new technology or gains financed into being, are soon lost as the new industry forms off-shore, usually in low-wage Asia.

    In the case of China and Germany being mercantile, our (I’m American) privateer finance capital sector wants this and encourages it, hence the perpetual trade deficit.

    The way out is to convert the money system in the West and America to become Sovereign, as the founders intended.

    https://sovereignmoney.site/

    As an aside, Striker is correct in that neo-liberal finance capitalism is not up to the task of dealing with any sort pandemic or shocks to the system, because the money power is held by privateers who are taking usury.

  89. @Eugene Norman

    Which European countries are truly democratic ? I agree that the US is clearly more authoritarian than anywhere else , I see a police presence everywhere I go ,unlike in Italy where I traveled over 700 miles last October and saw few gendarmes . Fortunately, unlike some European countries , the US has yet to jail anyone for “Holocaust denial”, although it’s in the works. I look across the Atlantic and see plutocracies and an undemocratic European Parliament. The bottom line is that European governments are going to use the engineered Coronavirus pandemic (a psyop) to usher in more draconian laws .

    • Replies: @9/11 Inside job
  90. Barr says:
    @Just Passing Through

    IQ is fluid .It depends on direction and available resources . Ship building medicines textiles and spice were the preserve of I India when Britain came and looked exactly for those . They soon succumbed the Indian business, ship building textile industries and agriculture deception war, by hook and crook While these infrastracture and sources of economies moved to Britain ,it stagnated then disappeared in India. India could not dedicate the economy to science and innovation It was also hampered by severe so coal dislocation .
    Britain then developed on the economy and industries that it had shifted to England . But England did not sit on it like the Arab or Brazil but built on it .

  91. @9/11 Inside job

    correction : I should have written” carbinieri and polizia “instead of “gendarmes”.

  92. Mefobills says:
    @Fatidicus

    The “free market” is fake and based on liberal assumptions about power. An economy can be controlled either by a governmental mafia, which hopefully is on your side, or by a private mafia driven by their self-interest

    There is always hierarchy.

    The universe has hierarchy, your body has hierarchy, and economies have hierarchy.

    Liberals and libertarians are mostly dupes and soft headed naive individuals, who have been fed bed time stories and they believe them.

    Ism thought constructs like liberalism, communism, and libertarian-ism are funded into being by usury flows.

    For example, Bolshevism (which becomes communism) was funded into being by wall street finance capital. Liberalism encourages you to go to the gay disco rather than agitating for fair value labor. Libertarianism worships on the alter of free markets, when there is no such thing.

    Pretty soon, people are going to come to the realization that National Socialist Germany had an economy that was worthy of emulation.

    But, it is a long journey to realize that Hitler was often right.

  93. @Platonometrics

    But … but … true capitalism has never been tried!

    The entire purpose of the Federal Reserve is to insulate the market from the government and democracy, because if people could vote for monetary policy, they would just vote themselves more money causing massive inflation.

    Instead, the banks regulate themselves through the Federal Reserve, owned by member banks. And we can see, all the hard-headed, responsible bankers have kept inflation down and never vote for easy money policies to line their own pockets.

  94. Wally says:
    @Realist

    Your Communist comrade savaged here:

    Bernie Sanders is the Wussiest “Revolutionary” Ever
    https://www.lewrockwell.com/lrc-blog/tucker-carlson-bernie-sanders-is-the-wussiest-revolutionary-ever/

    • Replies: @Realist
  95. Mefobills says:
    @John Johnson

    Speaking of libertarian BS it’s the same Randian cult that pushes the myth that Blacks are locked up because of the drug war. In reality the problem is that Black men are shooting each other over stupid squabbles, domestic violence, drug robberies and running feuds.

    The color of crime (see link below) compiles data on race related violence. Our European friends don’t have a large negro presence, and hence are naive in the extreme. Don’t import Africans or other people of color, who are divergent from the white European norm, it is stupidity of the highest order.

    European leaders who want to immigrate Muslims and Africans into Europe actually believe that “all people are equal and interchangeable work units.” This sort of malformed thought is funded into being by usury flows out of finance capitalism. Politicians are sock puppets for their financiers.

    https://www.amren.com/the-color-of-crime/

    The only time blacks were civilized in America, is when they were forced by external pressures. For example, in the deep south, blacks were in “fear” of external pressure, so they behaved themselves.

    It is only white people and north east Asians who evolved during the fourth ice-ages, for high trust relations. And even then, many north-east Asians require external shaming techniques to become high trust. Japanese are probably the highest north-east Asians, and Chinese are lower down on the hierarchy.

    Unfortunately, a external method of control for blacks would be to pay them a universal basic income. Take the gold or the lead. If you cannot control yourself, you get the lead to the head, and/or lose your basic income. (Or get ejected back to Africa.)

  96. @Mefobills

    For example, during the gold era, holders of gold coins would retreat and hide during depressions. The makers of goods, especially perishable goods, would desperately sell their perishing items at below cost. Why? Because the holder of gold had something that was shiny and didn’t rust, while the maker of goods had items that rusted and degraded.

    So producers of produce and other foodstuff, the perishables necessary for sustaining life, are at the mercy of parasites whose power is in shiny trinkets which have no value other than as being permanently shiny.

    This shows why MEFOBILLS (https://www.unz.com/comments/all/?commenterfilter=Mefobills) is the most necessary economic mind solely capable of charting humanity’s path to freedom from our enslavement at the hands of the the economic parasitism of Jew usury.

    • Replies: @onebornfree
  97. Why do people worship war criminals like Henry Ford? Henry Ford’s claim to fame was creating a massive army of criminals to run his manufacturing operations but the propaganda potrays this greedy master as some kind of socialist who paid workers enough to believe they were fairly compensated. That kind of mindless obedience goes far beyond the criminal muscle that Ford used to build his empire. The world of media and information is where the real war is fought – something Ford and Roosevelt knew. Years later Ralph Nader routinely took money from the Ford Foundation to spread ideas and train Americans on how they should view their country and themselves.

    • Replies: @anarchyst
  98. @Anonymous

    I never actually mentioned anything to do with Black and Brown people, I am saying that even if we were to get rid of them, whole simultaneously exporting our industries to China and letting their people get close to our critical R&D apparatus, the only thing that will happen is that crime will go down, we will still be behind China because we live in a liberal democracy where things happen slowly, and that the Chinaman will suck off the hard work of the White Man.

    Chinese are more efficient than us because of their uncreative and docile people, who are low-T and their authoritarian system which I believe we should have. If the good guys had won in WW2, O can guarantee you that China would still be a shithole country that would eternally be boasting about how it invented gunpowder and paper.

    Do you know that China has only just managed to produce more scientific papers annually than America? A country that is 4 times the size! And this isn’t even talking about the quality. All the Chinese scientific journals have very low impact factors and the best of the Chinese publish their research in Western journals because that is where they will be noticed by the vast majority of people on the cutting edge of science.

    They have only just managed to reverse engineer a Russian het fighter engine and they have only just managed to build an ICBM that can match the range of an ICBM America built half a century ago.

    • Replies: @Anonymous
    , @nsa
    , @Chinaman
  99. @BannedHipster

    ‘The creature from Jekyll Island: A second look at the Federal Reserve” By G.Edwatd Griffin , amazonbooks.com :
    “It tells the real story of how bankers have lured politicians with EASY money and have ended up in control of most of the World.”
    The 12 central commercial banks which own and control the private Federal Reserve make billions off the backs of American taxpayers and they in turn may be owned by just eight families; “The Federal Reserve Cartel: The eight families ” By Dean Henderson , globalresearch.ca

  100. Mefobills says:
    @Eugene Norman

    What banks in the free market want is the unlimited right to issue fiat money as they wish for short term profits. The reduction of controls over how banks lend – which is what removing the gold standard was – is the free market position and argued for by neoliberals and libertarians in the 70s, yet somehow government gets blamed and the banks and free market intellectuals excused when they get what they want

    If you go back and read the arguments for Aldrich Bill, and subsequent Federal Reserve, it hid this notion of “short term profits.”

    Wright Pattman sniffed out the FED, which was taking profits on TBills it held, to then fund banks within its system with a guaranteed profit of 6 %. In other words, it was a usury/rent scheme to take unearned income. The taxpayer was paying interest on their loans, and paying bankers again via public debt.

    But, even worse, is the manipulations of credit that always redound to pay the top of finance.

    The answer is to have ONE HEADWATER for money creation. Banks, including central banks, are to be stripped of hypothecation power.

    A monetary authority becomes the legal authority to issue debt free money and loans. See my earlier link with sovereign money, which is the most advanced money system.

    China has a mix of Sate banks and private banks. The State banks are the main headwater for money creation, and they also house debt instruments that can be jubileed. This gives China a large measure of sovereign money power.

    Lower down in the Chinese system is private banks. These private banks can hypothecate, but they are controlled by the State Bank System.

    China’s sovereign (quasi sovereign) system is very similar to the sovereign money system that Canada ran from 1938 to 1974 to good effect.

    China’s industrial economy is similar to the American System of Henry Clay (1868 to 1912), where sovereign credit issued from Treasury, and Treasury has some control over private banks via reserves.

    America industrialized and got rich with the American System of Economy.

    The U.S. is now a finance capitalist economy on the model of London, which in turn came into existence in 1694 with usury mechanics. And yes, our (((friends))) are always involved when it comes to rents, usury, and the taking of unearned income via sophisticated schemes.

    The U.S. became finance capitalist after the takeover in 1912. WW1 and WW2 were bitter harvests of the money men desire for usury and control. Part of this control is to assume “I am god, or I am doing my gods bidding, where the god is Talmudic Moloch.”

  101. @Fatidicus

    Nice explanation of real power. “Free market”, “capitalism”, “socialism”, etc. are ideas which have different definitions to different people. So naturally as the discussion progresses everyone becomes more confused. But you nailed it.

  102. anarchyst says:
    @R J Canndles

    Henry Ford KNEW who the destroyers of western civilization were and called them out publicly. From his publications, the Dearborn Independent to The International Jew, Ford KNEW where the problems originated.

    As to the “Ford Foundation” and others, the founders of these institutions are spinning in their graves because of the leftward communistic “tilt” that almost all foundations espouse.

    These foundations were founded by men of good repute, but slowly metastasized into the present-day left-wing organizations, being the supporters and promoters of jewish left-wing communist causes.

    You can’t blame the founders for the direction that these foundations have taken.

    Solution? Tax the hell out of the foundations. Presently, they operate tax-free.

    • Replies: @Mefobills
  103. Anonymous[263] • Disclaimer says:
    @Just Passing Through

    Just reads like a lot of nigged up cope to me. All problems in the “West” are internal and likely aren’t fixable anymore. Wall to wall niggers, just like Apefrica. Probably couldn’t even run the country without the slopes at this point.

    • Replies: @Just Passing Through
  104. Agent76 says:

    Aug 30, 2011 CORPORATE FASCISM: The Destruction of America’s Middle Class

    With the emergence of ever-larger multinational corporations — due to consolidation facilitated by the Federal Reserve’s endless FIAT money — the corporatocracy has been in a position to literally purchase the U.S. Congress.

  105. @Uncle Sam

    Capitalism is usury.

    Yes, but it is more than that. It is the obverse of communism. Both systems seek to concentrate wealth in the hands of the few. Defining the commune is the chore. From where I sit, it has always seemed to be competitors from the same tribe.

  106. Dutch Boy says:
    @MBlanc46

    Capitalism cannot exist without usury. Eventually, the usury cure makes the illness worse and you get a crash like 2008.

  107. @Eugene Norman

    “As for the corporations, also a product of the free market, they outsource because it makes sense to them to do so for their own profit.”

    Corporations are a government created/licensed entity with special government granted privileges.

    “That’s also the free market, one of the first things taught in econ 101 is the benefit of trade and comparative advantage. Except of course, it doesn’t work for workers in already rich countries who are undercut in wages.”

    The comparative advantage of U.S. labor is severely downgraded by U.S. Government taxes on wages, salaries, and tips.

    • Replies: @Dutch Boy
  108. @Mefobills

    Unfortunately, a external method of control for blacks would be to pay them a universal basic income.

    That doesn’t work.

    Cash based welfare in the 60s and 70s was a disaster that liberals like to pretend never happened.

    The original welfare program gave them cash and housing. Sounds good in theory but they just sat around having more kids.

    The dirty secret is that it worked for the Italians. Some of the larger housing projects that Blacks destroyed were well kept by Italians. It helped a lot of them get out of poverty. But this can’t be discussed in the social sciences because of the implications.

    That reality also questions the libertarian/conservative claim that the government itself is the problem and welfare never works. Well it worked just fine for the Italians.

    Of course the assumption by liberals that all programs work equally well with all people is BS as well. We have two sides and neither is telling the truth.

    I would actually like to help Black areas but we can’t do that when everyone is lying and even worse trying to censor people that want to study this openly. Work focused programs with strict requirements make more sense for them.

    • Replies: @Mefobills
  109. @Tibor Braun

    All the experiments with Communism / Socialism and the various sub-versions of it have also failed.

    Oh really? China is failing? Finland, Sweden, Norway and Denmark, before they drank the diversity is strength Flavor Aid were failures? NS Germany was a failure?
    The Soviets, as imperfect as the system was, decided that it could no longer invest in the arms race. Reagan plotted to crash their currency.
    http://v33wh3nda132a5e8u1ky1ouh-wpengine.netdna-ssl.com/wp-content/uploads/2013/07/Leo-Wanta.pdf
    The banksters moved in to “advise” Yeltsin, and the results were worse than anything under Communism. Since the collapse of the USSR, the “average” industrial wage in the (((West))) has stagnated and standards of living decreased, while in China they have been rising.
    All wars are economic wars. Finance capitalism will never allow competition. The M-I-C and forever wars are part of the package. People are too occupied with mindless jingoistic chants to see what is really going on.

  110. @Hegar

    This is pure speculation but the author sounds like Michael Hudson who does identify himself as a Marxist economist.

    Partisan politics aside some points raised are valid.

    • Replies: @Mefobills
  111. Mefobills says:
    @anarchyst

    You can’t blame the founders for the direction that these foundations have taken.
    Solution? Tax the hell out of the foundations. Presently, they operate tax-free.

    Man is a rent-seeker. Our (((friends))) are specialists at the usury mechanism, as they have honed it as evolutionary method over thousands of years. The infection has since spread to the minds of men, to where most people are hypnotized with false constructs about reality.

    Economies like that of National Socialism restricted rent-seeking and reduced usury to a low level.

    If you want to trace the usurpation of Ford foundation, all you have to do is follow the Jew. The Jew is the lead agent, or the advance guard for usury. Sorry, I wish it wasn’t so, but it is.

    Here is an excerpt from the wiki on Select Committee:

    The committee was originally created by House Resolution 561 during the 82nd Congress. The committee investigated the use of funds by tax-exempt organizations (non-profit organizations) to see if they were being used to support communism.[2][3] The committee was alternatively known as the Cox Committee and the Reece Committee after its two chairmen, Edward E. Cox and B. Carroll Reece.

    Reece especially dug into Ford foundation, which had been usurped by our (((friends))).

    Of course they usurped Ford, their main enemy. It is cabala mystery religion magick to overcome your enemies… to insert yourself as a parasite and take over the brain.

    To those of you out there who have the energy, google Reece and Select Committee, to find out how the tax exempt foundations are used as collection points and wedges for finance capitalist flows of usury.

    Globo-homo didn’t just happened, it is an evolutionary construct.

    Even today’s arguments are reduced to shit-tier drivel like Communism vs Capitalism. The actual reality is that there are different forms of Capitalism and different forms of Communism. Most mixed economies have socialism mixed in.

    The one standard you should always look to, is to figure out who has their invisible hands in your pockets and is trying to steal your life energy.

  112. @Priss Factor

    Are there any examples of capitalist economies that don’t eventually become finance capitalist economies without a strong state to curtail such actions?

    I would described Japan, South Korea, and China as varying degrees of state/national capitalist economies. Their economies are essentially capitalist, but the state has a strong hand in ensuring that business serve national interest, rather than the opposite as has occurred in so much of the West (more so in the US than in Europe)

  113. @Mefobills

    People like the Jew Paul Singer, of Elliot Management, would be a vulture….The power relation is Singer using his Jew buddies in the legal system to then apply injunctions against the target country. Then the U.S. military is used as a threat to force payment.

    And it gets far uglier than that on Main Street, USA.

    My seven years of full double time sweat equity investment in an innovative sole venture doing performance enhancement and career management generated $15 million of personal income into the local black community of which my take was to be a humble 4% which would have netted me a much-needed $600,000 paid out over years 8 to 12 (my firstborn’s ages 7-11) considering the unfathomable uncertainty of a never-before attempted let alone accomplished feat competing against an omni-powerful monopoly.

    But I and mine ended up empty handed as the poaching Jew Leech Kauffman easily bumped the gullible light-skin’s head, Leech’s Jew buddy Kike Klempner, legal expert who was supposed to be industry police against poaching turned up as lying star witness against me swearing Santa’s suite was green, and then a couple of local buddies of the Jew Jeffrey David Sachs who disguised in Harvard Crimson swiped the Russian economy from the Russians in the 90s, Jewess Gleicher and the disgusting Jew Markman, waived their arms under their black robes signaling their shabby goyim peers to do nothing after that locally notorious chabby goy thief below ignored the law, express relevant regulation, and my rights.

    Then the old Bolshevik (Solzhenitsyn said the Russians called it “The Jewish Terror”) law trick voiding marriage brought to USA as “No-Fault” converted the marital equity interest into a reverse convertible debenture imprisoning me in disabling debt gulag while dissolving the sanctity of the child’s home.

    Any of the above named lowlife Jews of position who see this can easily identify me and then screech like only Jews do about me.

    Eric, you know people in NYC, you can easily identify the crooked cop in this.

    p.s. the Jew Leech got his, but equally capable local young black guys who have come along subsequently can’t benefit like Leech’s dupe did because I’m no longer on the scene to provide the needed unique guidance.

    • Replies: @Mefobills
  114. Dutch Boy says:
    @flashlight joe

    Paul Craig Roberts has effectively exploded the comparative advantage argument used by neo-liberal economists to justify outsourcing. What is actually happening is labor arbitrage (sending production to low-wage countries). The countries are typically authoritarian and repress labor demands to keep wages low. The ultimate victim of this policy in America has been the American working class, which has seen its bargaining power disappear along with the well-paid jobs it once had.

    • Agree: John Regan
  115. @Eugene Norman

    “Some need for a central bank would exist as the banks need a store for their reserves and a lender of last resort etc.”

    There are no “reserves”, only corrupt accounting tricks. And the lender of last resort function is a cause of the problems we are experiencing.

  116. @Hegar

    It’s hilarious how “Eric Stricker” conveniently ignores every single Social Democrat party in the West pushing for anti-White policies, mass immigration, outsourcing to give the Third World jobs, and every other policy. Every socialist teacher in Western Europe and the U.S., every socialist professor, push for this.

    Those, whom you identify, are neither Social Democrats nor socialists. The real Social Democrats, whether in Germany or Scandinavia, were opposed to immigration and insisted on integration. That is why Germany had many Turkish “guest workers” who were denied citizenship, along with their children born in Germany. That is why immigration rates to Scandinavia were minuscule, until the “old guard” retired.
    In the UK, the real socialist trade unionists backed Enoch Powell, not Harold Wilson.
    Most of those posing as Social Democrats or socialists today are frauds, and are really globalist shills. The few real ones understand social cohesion is necessary for a society to function properly, and that “diversity” and “multiculturalism” are the antithesis of that. A socialist understands that immigration is the reserve army of capital, used to lower wages and working conditions, while increasing profits.
    What is hilarious, is that so many fail to see that the so-called “conservatives” aren’t actually conserving anything. They are globalist shills as much as the frauds to which you refer.

  117. nsa says:
    @Just Passing Through

    Chinese are…uncreative and docile people who are low-T….”
    If they are so “low-T”, why are there 1.4 billion of them?

  118. @Anonymous

    Probably couldn’t even run the country without the slopes at this point.

    This part makes your ethnic background all the more obvious.

    Chinese do not really conduct much novel research, they kind of just hang around the lab and take notes, and then go back home to share their newfound knowledge.

    I will give it to them that they have become very efficient builders, they can build Japanese invented high-speed rail very quickly now. But then again, Korean ladies can clean very well using the detergent and machines invented by White men…

    It is not enough to extricate ourselves from Blacks, we must also remove the Chinese and Jewish parasites.

  119. Astonishingly ignorant in just about every possible way. ES is usually solid on the JQ and promoting white interests.

    He doesn’t NEED to understand the first thing about business, investing, finance, economics, retirement planning, interest rates, equity premiums, exchange rates, emerging market development, mergers and acquisitions… or any of the dozens of other concepts he garbles and stumbles over like a C- liberal arts undergrad who skipped a semester of macro econ 101 and is trying to BS it through the final exam.

    It’s embarrassing and discrediting for the dissident right when we promote this amateur hour bullshit as if it is legitimate informed commentary. Stay in your lane and talk about what you actually understand. You have a lot of insight in important areas that most people know nothing about.

    We’ve got folks like Peter Brimelow, an incredibly important dissident voice who was ALSO a professional financial writer in top publications. We have people who actually know about this stuff… STOP EMBARRASSING US. STOP EMBARRASSING YOURSELF.

    • Replies: @Mefobills
  120. @Mefobills

    “and money is only a marker for wealth.”

    True, stated more completely:

    Money is a token of value in a recognized accounting system which tracks the exchange of promises for goods and services.

    • Agree: Mefobills
  121. @Platonometrics

    Exactly. What an embarrassing article. It’s Godfrey Roberts level of crap, that’s quite an accomplishment

  122. Realist says:
    @Wally

    Your Communist comrade savaged here:

    When you disagree with me you call me a communist or a Jew…or both. I am neither. I voted for Trump…a mistake I won’t make again..

    You really should change your approach…and cut the ad hominem attacks…and try some facts.

  123. Mefobills says:
    @jsigur

    Corporate Capitalism invented around 1600 is a Jewish construct. Imagining capitalism without Jews at the top really makes it something else

    Good job.

    The first corporation, the Dutch East India company was formed with Dutch stock market capital.

    700 unlicensed Sephardic Jews were behind this. In those days, stock market traders had to be licensed to only Dutch people, and in fact, only one Jew was licensed. The rest were operating illegally, but had managed to worm their way in.

    Our Sephardic friends, after being ejected from Spain for operating the Usury mechanism, found their way to Holland as it was part of Spanish Netherlands.

    Corporation root word is corporeal, or “men at arms.” Corporations originally were chartered, and if they went beyond their charter, they were legally collapsed.

    So, today’s construct of finance capitalism got its beginnings in Amsterdam, and then jumped to London, and finally the parasite system has jumped to most of the world.

    The construct is bank credit at debt and usury to emit “bank credit as money.” This money then puts a population in debt, and the debt instruments are on-sold into markets. Markets the are tied to corporations. If you delve into corporate ownership, it is finance that owns most, as finance grabs control using debt mechanics including deflation and bankruptcy.

    In this way, a power relation is formed, and people lose their patents, business and wealth over time. Land is also put into debts and then become corporate farms. Or, during inevitable rent schemes, land title transfers to the bank creditor.

    The big bang event of usury finance capitalism can be traced to the Bank of England formation in 1694. Since then finance capitalist usury system has been exported world wide behind mercantilism and colonialism.

    It is amazing that Thomas Jefferson, Benjamin Franklin, and Thomas Payne sniffed out the defects before the revolutionary war. Very little time had transpired for them to come to understanding. This is why the American Constitution has some advanced concepts encoded.

    Compared to genius of Jefferson, Franklin, and Payne modern man has no excuse. He has had 100’s of years to figure it out, suffered world wars, and brown people invasion, and is still confused.

    Instead the “mind fire” of usury has overtaken modern man and he is hoaxed with propaganda about the nature of reality. He has to be hoaxed in order for his pockets to be picked.

    • Replies: @Just Passing Through
  124. In one word – USURY – defines it all!
    The consequences will eventually catch up and sink us all – https://crushlimbraw.blogspot.com/search?q=Usury&updated-max=2019-10-02T20:32:00-07:00&max-results=20&by-date=false&m=0 – a collection of articles archived in DaLimbraw Library which are an education in itself – will take days to read – but that is the downside of learning, eh?

  125. @Curmudgeon

    Finland, Sweden, Norway and Denmark, have slowly but steadily been moving away from that which was viewed as Socialism in ignorant academic western circles.
    Denmark has changed it’s immigration policy radically.

    My golden rules : (1) Don’t comment on things about which you are clueless.

    (2) That which Germany embraces is bad for mankind : They, the psychotic Krauts, worship BO as a deity. and their 30 year debt forgivness system marks them as hard-core, ruthless capitalists.

    SJM “Mensa” qualified since 1973, airborne trained US Army vet, and pro jazz artist.

  126. Mefobills says:
    @Amerimutt Golems

    Michael Hudson who does identify himself as a Marxist economist.

    Hudson identifies himself as a Classical Economist. Classical economist were experts at sniffing out usury, rents, and unearned income as being “excrescences” or parasitical to the production system.

    Marx could be defined as a classical economist, who felt that finance capitalism would collapse from internal contradictions, and communism would take its place. Of course, I disagree with Marx’s final conclusion, but his analysis in capital, should be required reading.

    Hitler and his advisers were also classical economists, as they sought to bring capital and labor into balance.

    So, which is it? Hudson is both a Communist and a National Socialist.

    In reality, Hudson’s parents (his dad mostly) were Trotyskyites, and this led Hudson on a life journey of discovery. He has since almost single- handedly resurrected Classical Economy, which is the only type of method that can properly analyze today’s world.

    Classical economy includes the study of Marx, and Proudhon, and other economic thinkers who focused on “excrescences” not necessary to production.

    It is important to define what is cancer, and what is bone, and what is sinew and muscle. Finance capitalism and its construct of neo-liberal economics conflates and lies in order to give finance oligarchy cover.

    GDP is a good example of neo-liberal hypnosis. During the housing bubble, houses were transferred back and forth, as if it was economic activity. In reality, physical housing stock did not appreciate in real terms, but GDP and new housing debt instruments signaled that there was good activity, when most people now know it was negative activity.

    • Thanks: mark green
  127. Realist says:
    @Eugene Norman

    What banks in the free market want is the unlimited right to issue fiat money as they wish for short term profits.

    That idea is a bastardisation of the free market concept.

    The reduction of controls over how banks lend – which is what removing the gold standard was – is the free market position and argued for by neoliberals and libertarians in the 70s, yet somehow government gets blamed and the banks and free market intellectuals excused when they get what they want.

    I agree the removal of the gold standard was one of the biggest mistakes…among many…Nixon made.
    The government (Nixon) did remove the gold standard, which paved the way to fiat money and an oligarchy for the US.

  128. bluedog says:
    @anarchyst

    Sorry but your wrong your spreading that ole line that the country run on tariffs when the truth is it run on taxes,what do you think Shays rebellion was all about which almost caused another revolution,but TAXES on the land owners,then you had the Whiskey rebellion which was caused by TAXATION on the whiskey makers.In truth this country has always been run by taxes and always will,taxes paid mostly by the middle class,working poor ather than the wealthy.!!!

  129. Mefobills says:
    @Anonymousse

    It’s embarrassing and discrediting for the dissident right when we promote this amateur hour bullshit as if it is legitimate informed commentary. Stay in your lane and talk about what you actually understand. You have a lot of insight in important areas that most people know nothing about.

    Striker is actually pretty close to the mark. Go back and read some of my comments.

    Nobody alive can accuse me of being ill-informed on money and monetary history. Striker evidently is still learning, so cut him some slack.

    OK…so he didn’t use the term “finance capitalism” and just called it capitalism. Cut some slack, everybody is at a different level in their journey.

    The money system has been obscured on purpose, so most people do not know down from up. How could they, when they have been lied to most of their lives?

    • Troll: Beefcake the Mighty
  130. @Dumbo

    Using public money for the public instead of the Big Banks? What are you? Some kinda comuniss? 😀

  131. Herald says:
    @Platonometrics

    The banality of your question is well rivalled only by the act of the misguided soul who chose to agree with it.

  132. @Mefobills

    Cecil Rhodes was worse, completely bankrolled by the Rothschilds.

  133. @Just Passing Through

    Please explain why Clinton’s Jew saturated administration sent all the manufacturing jobs to China …

    Why? I think the standard theory is that labor is vastly cheaper in China, ergo greater return on investment for shareholders.

    … and why this process was kick started even before that with Nixon and Jew Kissinger?

    Nixon going to China in 1972 had nothing to do with economics. No ‘free’ trade treaties of any kind resulted from his visit. No sir: it was all about geopolitics, all about triangulating against the Soviets. ‘Free’ trade with China didn’t really begin until the early 90s when Poppy Bush urged that they be accorded ‘most favored nation’ trade privileges with the US, putting them on par with, for example, NATO allies. Unlike most of our NATO allies, however, their labor force was about a thousand times cheaper!

    Does that answer your question?

    • Replies: @antibeast
  134. @Mefobills

    Our European friends don’t have a large negro presence, and hence are naive in the extreme. ….European leaders who want to immigrate Muslims and Africans into Europe actually believe that “all people are equal and interchangeable work units.”

    Do you really think so? They have all these intelligence agencies who work in the field, and many of their top business executives and diplomats who have experience of working in different countries with different peoples and keep tabs on data, statistics, cultural and national idiosyncrasies and characteristics, etc. I find it hard to believe that they are not giving appropriate advice to the politicians. They really can’t all be that ignorant or stupid. There’s something else going on.

    • Replies: @Mefobills
  135. Miro23 says:
    @Fatidicus

    The “free market” is fake and based on liberal assumptions about power. An economy can be controlled either by a governmental mafia, which hopefully is on your side, or by a private mafia driven by their self-interest.

    An economy can be relatively free (for example the West post WW2) or relatively un-free ( Soviet planned economies post WW2). At the time, individuals could make freer economic decisions in the West, protected as they were by laws of private contract.

    Now that the US economy (and EU) has been captured by special interests, and financialized/indebted in every way, and that the Soviet Union is long gone, I agree that the focus is back on government.

    IMO a government is more likely to be on your side if government leaders are ethnically and socially closer to their public (i.e. they’re the same people). China and Russia’s leadership pass this test but the West’s increasingly don’t. Multiculturalist/ Globalist dogma produces rather detached and disloyal Western elites (also corporate/media/academic etc.).

  136. Wantoknow says:

    The entire political system in the US is illegitimate. It serves the interest of a very self serving and destructive plutocracy. You have outlined the nature of the problem above. But what will be done about it? I suspect nothing short of a major collapse will move people to act and even then the confusion generated may well allow the plutocracy to save itself for another go round later.

    A partial solution was put in place with the New Deal. But in the subsequent decades, particularly after 1980 the plutocracy has been able to reassert itself. We are now living in a new Gilded Age. Perhaps this new Gilded Age will in its turn fall but that it exists is a major criticism on the sensibility of the US population and concepts of democratic rule.

    It is hardly enough to point out the major failures and faults of the current arrangements. Many can do that. What is needed is a basis for action and the ability to organize people to carry the action out. Unfortunately, I see no effort to do other than whine about the current reality.

  137. Cyrano says:

    Capitalism is like an operating system of a society. If capitalism is Microsoft, then socialism has to be Linux – an open source code operating system where everybody is contributing, but nobody makes any money. And yet, some say, Linux is better than the windows crap. Microsoft makes few people very rich and the rest of the peasants compliantly use it – perfect comparison to capitalism.

  138. @onebornfree

    This is why libertarianism appeals to simple minds. You can spam the same comment, the one simple solution for every problem.

    Forget that you have no idea if your solution will ever work as you have no evidence of it’s functionality throughout all of human history.

  139. @Futurethirdworlder

    Ideological libertarians are hardly different than ideological communists; both ignore reality when it contradicts their ideology. It’s the same mindset that drives religious fanatics and bible-thumpers.

    OneBornFree thinks every human problem can be boiled down to a simple catch-phrase or quote from some other ideologue.

    You can’t have any meaningful discussion with such people because facts and reality don’t matter to them, only words. They believe that words are magic and saying something makes it real. The late, great Bob Whitaker called these people “wordists.”

    • Agree: utu
    • Replies: @Wally
    , @onebornfree
  140. JamesinNM says:
    @Priss Factor

    Debt based economy. Read economist Michael Hudson. I love a real America and hate everything about the private Luciferian NWO United States Federal Government and its prodigy. Pray for Christ’s return and the destruction of all evil.

  141. Mefobills says:
    @Commentator Mike

    Do you really think so? They have all these intelligence agencies who work in the field, and many of their top business executives and diplomats who have experience of working in different countries with different peoples and keep tabs on data, statistics, cultural and national idiosyncrasies and characteristics, etc.

    There are plenty of sock puppet European leaders who bleet about how they need immigrants to pay the pensions. They also state how they need labor to man the factories.

    The bullies in Brussels actively promote third world immigration. Fortunately, a populist right is arising to thwart the immigration nonsense. At the root of immigration is false economy, whereby false economic notions are passed as common wisdom.

    This false notion is that men, women, and all the races are equal, and also equal work units.

    New debtors pay off old debtors. New work units pay existing bond holders and pension funds.

    The reality of course is different, where most of the immigrants are indigestible, and are COSTING money through transfers of wealth, deracinating the population, and causing social friction and crime.

    So, I think there are plenty of people in Europe who agree with what I am saying, and I also think there are paid for puppets of globo-homo oligarchy, who have been installed into government positions.

    Fortunately, the populist right is rising in Europe, and they are not putting up with the BS. Even the yellow vests in France continue their pressure.

  142. “As virus’s grip[in China] weakens , focus shifts to the economy” asiatimes.com.It has been reported that 90% of Starbuck’s cafes in China have reopened and they expect 95% to have re-opened by the end of the 2nd. quarter . So we should expect the fake pandemic to be coming to an end in the US and Europe in the next couple of weeks or when Tom Hanks pronounces himself better!

  143. Jim says:
    @utu

    It is difficult to tell what Striker’s proposed solution is: although it seems to be assumption of total control of the economy by a wise government. I certainly agree that the US governing system is a complete and utter disaster, whatever you call it.

    My definition of that system is crony socialism. Meaning that vast lobbies own the state and direct its actions to their benefit. Chief among them are foreign policy, war (defense), bankers and the federal reserve (finance), sickness protection (healthcare), propaganda (government schools) and a myriad of other lesser lobbies frequently allied with one or more of the big six. In addition, the state must pay citizens off enough to keep us fairly dumb, fat and happy.

    This might be a uniquely horrible form of socialism, neither communism, democratic socialism nor national socialism, but similar in creating an overclass of rulers and their lackeys with a vast underclass to serve them. Oh wait! This is exactly the South American model, or said another way, third worldism.

    Crony socialism is a completely natural and human system. Each of us as individuals is always working to protect our individual security and prosperity without thought of (or really the ability to control) the effect upon others. The system responds to this pressure by giving those with the most influence the largest benefits, which must be taken from those with lesser influence.

    So if I am correct, this natural system cannot be reformed because it has developed through human action (spontaneous order). If a better system is to be created it must be from intellectual roots, thinking through the options demonstrated by history. What do you think the chances of that happening are?

  144. onebornfree says: • Website
    @Futurethirdworlder

    “When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.”- Frédéric Bastiat,

    “Dreams, that governments will make you free,
    Dreams, that they ain’t just war and slavery,
    Dreams, of your god democracy,
    You keep dreamin’, of more enforced equality,
    Yes you’re dreamin’, dreamin’ you are free
    In your dreams”

    “In your dream, Donald Trump is not a fraud,
    In your dream, Sanders is not a fraud,
    In your dream, Obama is not a fraud,
    In your dream, Reagan was not a fraud,
    In your dream, all the rest were not frauds,

    In your dream, the constitution was not a scam,
    In your dream, the Supreme court is not a scam,
    In your dream, the CIA is not a scam,
    In your dream the FBI is not a scam,
    In your dream the Pentagon is not a scam,
    In your dream, 9/11 was not a scam…….”

    Dreams [ Matrix Blues] :

    “Regards” onebornfree

  145. onebornfree says: • Website
    @Farrakhan.DDuke.AliceWalker.AllAgree

    “This shows why MEFOBILLS (https://www.unz.com/comments/all/?commenterfilter=Mefobills) is the most necessary economic mind solely capable of charting humanity’s path to freedom from our enslavement at the hands of the the economic parasitism of Jew usury.”

    No, all “it” it shows is that you, like many here, are an out and out sucker for pseudo-intellectual , pro-state, commie drivel.

    “On most people the strain of being an independent adult weights heavily. The State provides a way of eliminating “the psychic burden of adulthood.”— Randolph Bourne,

    And so it goes…

    No regards, onebornfree

    • Replies: @Mefobills
  146. Mefobills says:
    @Farrakhan.DDuke.AliceWalker.AllAgree

    But I and mine ended up empty handed as the poaching Jew Leech Kauffman easily bumped the gullible light-skin’s head

    I hope everybody who reads the above, gets it. Jews operate a Kritarchy system, which uses lawfare to back up their usury schemes. Kritarchy Jews around the world are now maneuvering for Nohaide laws, where the Jew is gatekeeper for international law. And of course, the law is always conditional, and not based on natural law (white man’s law). Noahide law will be adjusted as necessary, with the “is it good for the Jew” being the only real thing that matters.

    Do you think I am kidding, and what I am saying is some sort of Conspiracy theory?

    This is how they maneuver to take control. Usury and in-group methods, along with an ideology that states one is god-like, and therefore can do no wrong. This unleashes predatory behavior.

    The latest gambit is Singer trying to maneuver to control Twitter. They will use kritarchy, or compromat, or whatever dark arts they can conjure in order to do their Tikkun Olam.

    Once twitter is in the hands of the tribe, then narrative controls can be put into place.

    There are honorable Jews, and these people need to be commended, because they are seriously going up stream and against the tide, putting themselves in danger. We must always protect the honorable Jew because he is one of us.

    In general though, don’t ever do business with a Jew and find some way to navigate in this treacherous world. Be very careful. Turn that Jewdar up to full gain, and realize that the usury system has now spread to the goyim, creating a fire in their minds. Women have been weaponized along with negroes, muslims and various identity groups.

    I too tried to guide one of the biggest tech companies in the world, which was filled with soft-headed christian leadership, who did not have the mental acumen or knowledge background to navigate this world properly.

    • Replies: @MrFoSquare
  147. The Dark Pool Derivatives Universe undergirds a global Ponzi scheme that Goldman Sachs engineered with their Giant Vampire Squid networked connectivity. Any sort of deflation of the asset volume will collapse the entire architecture of the Western Empire. The Law of Diminishing Returns & the Second Law of Thermodynamics guarantees the system wide implosion which will resemble World Trade Center #1 & #2 plus Building #7 imploding into a controlled demolition much like it actually did implode on that fateful 911 day in the historiography.

    To assert that the current administrators of Finance should have anything to do with Macroeconomics or Finance in the future is to not know what is truly manifesting in the world of macroeconomics as the entire edifice is collapsing before our very eyes everyday with increasing rapidity.

    Asset inflation replaced economies as Greenspan’s principle driver of wealth transfer to the investment class on Wall Street. Once the world was eating out of Greenspan’s hands he decided to repeal the only Depression era law that stood in his way to building an asset driven world that no longer was or is capable of surviving without continuing the very system that can no longer be maintained due to the Law of Diminishing Returns & the Second Law of Thermodynamics.

    The unfortunate realization that the world must come to grips with is obvious in so far as asset inflation is no longer a realistic or pragmatic driver of civilization due to the Law of Diminishing Returns & the Second Law of Thermodynamics.

    Entropy is a bitch, eh.

    RW

  148. Wally says:
    @BannedHipster

    But you have not shown us how libertarians & One Born Free are wrong.

    You merely say they are.

    Talk is cheap.

  149. Mefobills says:
    @onebornfree

    No, all “it” it shows is that you, like many here, are an out and out sucker for pseudo-intellectual , pro-state, commie drivel.

    One born free-dumb was answered earlier by other commentators.

    Libertarianism is part of the usury dialectic, where “free markets” are god. In reality, free markets are manipulated to take rents from Muppets, as ((goldman sachs would say)).

    • Troll: Beefcake the Mighty
  150. @Curmudgeon

    So why is the USA still No1 economy in the world?

  151. @Mefobills

    Moses gave you the Law, I give you the Truth.

  152. Is capitalism a disease? Yes and no.

    If we can liken human civilization to an organism, subject to evolution in response to a changing environment, then capitalism is a stage in the evolution of the human organism. It is a stage with a nervous system and internal metabolism conducive to its survival and propagation in a certain and temporary period.

    As with any organism, it ages, the environment changes, and the organism must adapt. It must be born anew with a physiology suitable to a different epoch. When the organism fails to adapt, it becomes sick, it develops mysterious syndromes, and its own immune system begins to attack itself, in an attempt to force the necessary changes.

    This is the stage of capitalism that we are in.

    I think too often we think of capitalism as an ideology, or view it through the textbook definition, rather than understanding that it is a label given to an ad hoc set of arrangements that human societies fell into. We never sat down, wrote a capitalist blue print, and designed our society in accordance with a plan.

    Whatever we think about him, Rabbi Marx did a good job explaining the coming into being of capitalism or bourgeois society in his 1848 pamphlet. Others have expanded on his description since his passing.

    This post is a summary of their insights through my own lens. (Warning: long post)

    [MORE]

    What we call the capitalist system began its infancy in the mercantile city states of Europe: Venice, Amsterdam, etc. The trading networks of Europe brought an actual disease to Europe in the form of the plague and much of Europe was shaken to its core. Amidst the death, the illusions of feudal Europe also met their match, and an era of rebirth emerged that we call the Renaissance.

    The open-mindedness, the questioning, etc, led to developments in shipping that led to the great explorations, the discovery of the “new world.”

    Trading with the new world, the expanded need for mercantile credit, led to the merchant and financier classes becoming more socially relevant in comparison to the landed aristocracies controlling the hereditary monarchs. The rising demand for ever greater shipping capacity spurred the pursuit of greater methods of production and thus the industrial revolution.

    Soon the merchants, financiers, and emerging industrialists pushed aside the aristocracies in the enlightenment revolutions. Political and philosophical doctrines conducive to competitive capitalism replaced the old forms of consciousness.

    Initially capitalism was brave, free and heroic. Its demands for freedom of commerce translated into demands for freedom of thought, speech, press and a form of government, republics, that could represent the interests of the relevant capitalist classes.

    This describes capitalism from conception, through birth, infancy and into adolescence, say 1300-1850.

    Capitalism: The Adult Years, 1850-1913.

    The class foundation of young capitalism was the merchant and the small manufacturer. But a system oriented towards individual gain, in which all non-monetary social relations take a back seat, cares about efficiency, low cost, and mass production, i.e. it wants economies of scale.

    What those who have studies economics know, is that truly competitive markets where producers and consumers are both “price takers,” are not compatible with economies of scale. That is, you cannot have markets with large numbers of producers when fixed costs dominate and production becomes more efficient the larger amount of output per business unit.

    In short, mature capitalism is oligopoly capitalism, and as capitalism matures an ever greater number of small capitalists succumb to competition and enter the ranks of the working classes.

    At this stage, the supply side of the economy is beyond what any previous generation could imagine in its power, efficiency and levels of output. But problems are emerging on the demand side.

    As wealth and ownership of means of production concentrates, the ability to produce becomes ever greater, but the ability to realize profits via sales is compromised due to the polarization of income.

    As the national income becomes concentrated in a smaller and smaller capitalist elite, who have satisfied all conceivable desires for consumption, a greater and greater mass of income is saved.

    In order for the saved income to not produce a deflationary gap in the economy and a subsequent downturn, the savings must be used for investment. Thus, mature capitalism comes to rely less and less on consumption for its cyclical stability and more on volatile investment, i.e. on animal spirits, bouts of extreme and irrational exuberance.

    The booms, the busts, exacerbated by speculative bouts of unsustainable lending and borrowing, begin to become more and more violent. The lives of the working class masses are pushed this way and that by forces no one in society is controlling. Class struggles, resentment, and anger become more and more pronounced and radical movements, social democracy and communism emerge promoting alternatives.

    The crises, together with the concentration of ownership in industrial and banking cartels, lead the capitalist elites to decide that the capitalist system needs a central nervous system that will help maintain the capitalist body, and central banks emerge as lenders of last resort to quell panics.

    Meanwhile, the powerful states of the capitalist world have become beholden to new financial and industrial cartels. The competition between the various capitalist centers spurs imperialist activities: colonies to provide exclusive access to raw materials and new homes for surplus working class populations.

    Capitalism: Mid-life Crisis, 1914-1945.

    The inter-imperialist rivalries, possibly sharpened by ever more powerful (((financial interests))), explode on the battle fields of Europe. The developed world is plunged into four years of carnage, and oligarchic capitalism becomes state monopoly capitalism.

    The chaos, the overthrow of all values and all humanity, result in the emergence of the first officially Socialist State in quasi-feudal Russia and imminent threats to actual capitalist societies in Europe like Germany and Italy.

    Following a decade of Bolshevik chaos, Russia turns to National Bolshevism, i.e. a form of State Capitalism in which the Soviet state becomes the Russian Capitalist pursuing rapid industrialization via a command system.

    Meanwhile, all the negative symptoms of mature oligopoly capitalism build up once again in the roaring ‘20s, a global depression emerges and the capitalist classes of certain European countries decide to convert their own nations into State Capitalist, so-called Fascist, orders with a thirst for revenge. Once again the world is plunged into war and devastation.

    But this time, when the dust settles, a different capitalist world emerges.

    Capitalism: New Life/New Wife and Geriatric Death Spasms, 1946-Present

    The post-depression, post-WWII, order in the West combined all the elements of mature oligopoly capitalism but now with a variety of elements borrowed from the social democratic and fascist movements. The large capitalist combines and cartels were now linked to the state via the defense departments and regulatory agencies; the unions were domesticated and brought out of the streets and into the board rooms of the Fordist corporations. States institutionalized large scale taxation, became responsible for large public infrastructure investments to complement the actions of corporate industry, and engaged in routine fiscal stimulus activities to ward off bouts of recession. Some nations instituted aggressive programs to de-comodify certain services such as medicine and healthcare. Mass advertising promoted consumption needs foreign to all previous generations. Meanwhile, the destruction of Europe provided an extended period of abundant economic opportunities for business. Thus major crises were avoided and for a while there was large-scale social harmony.

    In its prior epochs, the capitalist order was subject to deflationary crises. Fordist capitalist, on the other hand, was subject to inflationary pressures. These were exacerbated as the Cold War strategy of Washington provoked the end of the Bretton Woods system and the US was taken of the gold standard. As inflationary and fuel crises hit during the 1970s, western unions became more aggressive in their wage demands and the previous decades of relative industrial harmony gave way to confrontation.

    The response of the state capitalist oligarchies was to remove the industries and replace wage driven demand with debt-driven demand. The financial regulations put in place during the depression were removed. Despite the promises of Reagan and others, government’s role continued to grow and grow, but now with the demand by the capitalist class that it not pay taxes; thus government debts ballooned.

    The continued growth of the warfare state, combined with rapacious banking practices, and the loss of any organized working class, all led to an establishment consisting solely of detached cosmopolitans beholden the merchants of death and the financial aristocracy.

    Simultaneously, the labor arbitrage off shoring activities of the corporations, began to build up future economic and military rivals to the West. The relatively stable Pax Americana of the Cold War gave way to the imperialist rivalries of the previous eras.

    The leading capitalist nations of the west are no longer innovators or even producers of life-sustaining products. The West is a geriatric on life support. The only thing keeping the heart beating is the ability of the US to force the rest of the world to use the dollar and continue to indulge its debt addiction by virtue of holding the military gun to everyone’s head.

    In short, 21st century capitalism is simply a system in which an elite of bribed and blackmailed cronies assist a criminal syndicate in cannibalizing their societies now that genuine profit opportunities have vanished.

    All the insanity that Mr. Striker and others document on this site and elsewhere is essentially the end result of a society ruled by parasitic oligarchs who are no longer willing or able to engage in any productive contributions to their societies. Everything they do consists of schemes for rent extraction, and for dumbing down, confusing, brainwashing and dividing the masses to prevent a revolt. In short, their actions are geared towards arresting the immune system of the society. We are now ruled by a crop that would make Nero and Caligula ashamed.

    Summary and Alternative

    What I want those reading this comment to understand is that isn’t about “capitalism” versus “socialism.” The natural tendencies of the capitalist system lead to concentration, centralization and economic/social crises. In response, elements of what we consider to be “socialism” get attached to the system.

    But as long as the class of oligarchs remains at the head of the system they will simply use the “socialistic” expansion packs for their own rapacious pursuits.

    Whatever the solution, I think it needs to take into account the following:

    1) Modern life requires large-scale industry and economies of scale.

    2) Economies of Scale lead to oligopoly and oligarchies.

    3) A system in which oligarchies are held in check by an organized working class can be relatively harmonious, but eventually the oligarchies attempt to wreck those organizations as profit opportunities become difficult to find.

    4) What we need is an economic system where economies of scale remain, but where an oligarchy does not emerge.

    Many years ago I read a book called A Future for Socialism. The system the author recommends is basically capitalism, but with all equity ownership replaced with a coupon system of diffused ownership. The idea is that citizens can use their coupons to trade claims on the profit streams of the various corporations, just like in a stock market, and receive dividend income from the corporations, but are not allowed to sell their coupons for money. Thus, large scale production continues, but a class of corporate oligarchs does not emerge, and the political process can be more responsive to needs/desires of the citizenry. The corporations must rely on internal funds or debt for financing (like they do now for the most part), but he recommends that the banks and corporations be organized along lines of the Japanese Keiretsu system.

    I think a system like the one described above, but with unions represented in the Keiretsu system (industrial democracy), combined with mild social democracy on health and education, and public banking along the lines of the Bank of North Dakota, might be a good alternative model.

    • Thanks: Nonny Mouse
  153. onebornfree says: • Website
    @BannedHipster

    “OneBornFree thinks every human problem can be boiled down to a simple catch-phrase “

    Nah, that’s you and your ilk. The catch phrase for all y’all state-worshiping dimbulbs is [basically] :

    “Government can solve the problem, because government always knows best”

    …..when, in the real world, the fact of the matter is that government is always the problem, _never_ the solution. It/they never know best.More government always makes things worse, not better.

    “If one rejects laissez faire on account of mans fallibility and moral weakness, one must for the same reason also reject every kind of government action.”. Ludwig von Mises

    “Socialism is not in the least what it pretends to be. It is not the pioneer of a better and finer world, but the spoiler of what thousands of years of civilization have created. It does not build, it destroys. For destruction is the essence of it. It produces nothing, it only consumes what the social order based on private ownership in the means of production has created.” Ludwig von Mises

    “Every socialist is a disguised dictator.”Ludwig von Mises

    “Human progress, at least recently, has been largely a shift from brute force to brute fraud.Fake money is used to rob people of trillions of dollars. Fake news robs them of what little brain power they had. Fake democracy, the Deep State, and runaway regulations rob them of their liberty.And the longest war in U.S. history robs them of their children and their money.” Bill Bonner

    “Regards” onebornfree

    • Replies: @John Johnson
  154. The Chinese government’s pandemic recovery plan demonstrates why they have gone from a developing nation to economic peer of America in such a short period of time. Their command economy is unstoppable and makes the pencil necked Jew economists that invented neoliberalism look like fools. The People’s Bank of China, which is run by the state, is giving underlings $79 billion in stimulus money at a higher interest rate than the fed, but on the condition that they loan it to small and medium enterprises and forgive their late payments so that economic damage is reversed and production can recover quickly

    .

    Are you trying out for comedy hour. This is hilarious. China tells its people to jump and how high. Look at their pollution, and the condition of their labour force. They have no unions or controls for air quality and land distribution which help to clog up a bureaucracy. So comparing the Chineese command of an unstoppable economy to our free market system is like comparing an ant hill to a a lion roaming the Serengeti. Not exactly apples to apples.

    Capitalism sucks, like every other system in the world from dictators to socialism. Humanity is corrupt and greedy and power hungry.

    Despite everything all the conditions that make up an economic system and bureaucracy. Capitalism run by a voting republic has brought and continues to bring more people along to wealth and prosperity then any known system in history. It has many problems and inequalities but it is the best we have. The human condition in America is as good as it gets.

    • Replies: @Mefobills
    , @Chinaman
  155. Ace says:

    Capitalism is a healthy engine that harnesses self interest to create wealth and opportunity for large numbers of people. It is a political duty to enforce contracts, punish fraud, prevent monopoly. and other ensure a level playing field. If there is no level playing field then that is a failure of the political leadership not capitalism. Successful buinesses have the potential to influence political systems, hence the phenomenon of crony capitalism which still isn’t plain vanilla capitalsim, to emphasize that point.

    I have no idea what neoliberalism is and neither do 99% of the people who use are encounter that term. It seems to mean deregulation ad astra but the goal of that is not a healthy capitalism with non-rapacious, political oversight but some kind of a wild west, free for all “capitalism” which long since faded from the scene and is advocated by no one. The push for deregulation in Reagan’s time was not to achieve no political oversight but to roll back decades of stupid intervention in the economy that had been effected to achieve even more stupid political and social goals.

    Capitalism can be distorted and people who achieve success in a capitalist system can stupid and malicious in gaming “the system” and otherwise sickening a healthy engine.

    Deal with the distortions and criminal manipulations of capitalism not some fairy tale version of “capitalism,” liberal or otherwise.

  156. @Wally

    They haven’t shown how they are right. It’s all just “no true Scotsman” complaints – just like the socialists – real capitalism has never been tried!

    Talk is cheap.

    It certainly is.

  157. @Wally

    “Talk is cheap”

    Must be why freemarket libertarians are so fond of talk, does talk become cheaper if one repeats the same thing over and over?

    In this case the evidence that a stateless society doesn’t work is a lack of evidence. No stateless society has ever existed at least not for very long. What does that tell you?

  158. Mefobills says:
    @John Johnson

    Cash based welfare in the 60s and 70s was a disaster that liberals like to pretend never happened.

    The original welfare program gave them cash and housing. Sounds good in theory but they just sat around having more kids.

    ___________________

    The welfare was given to black women… not the men, creating welfare queens. Queens then kicked out the men, who became baby daddies, instead of fathers. This broke the black family, creating even more black dysfunction.

    Since welfare money was predicated on having kids, then having more kids was incentivised. Black Mama’s started screwing around even more and popping out more future welfare queens.

    Experiments have been done with black men, who when getting out of jail, are paid to not do crime. It actually has worked, as the negro thinks a bit before doing violence, and how he will lose his income. Paying the man, rather than the women, puts the proper patriarchal hierarchy back in place. Women are to be beneath men in a proper hierarchy, and that includes the white race hierarchy as well.

    People may grind their teeth at the thought of wealth transfers to a section of the negro population, but it is actually cheaper than funding jail time, which can be $50k to $100K per year per inmate.

    Why do you think private jails popped into being… there is money to be made… uh er transferred from the public taxpayer.

    • Replies: @obwandiyag
    , @John Johnson
  159. Mefobills says:
    @Fran Taubman

    Capitalism sucks, like every other system in the world from dictators to socialism. Humanity is corrupt and greedy and power hungry.

    Hungary had a constitutional kingdom that lasted for nearly 1000 years.

    During that time, the elected kings, were able to keep a lid on privateer excesses of human greed and hunger for power.

    Hungary also kept out the Jew – or at least limit Jew depredations, and was able to resist Muslim incursions.

    Somehow they were able to thwart home grown oligarchy.

    • Replies: @Fran Taubman
  160. Uncle Sam says:
    @Uncle Sam

    What makes capitalism capitalism is the private creation and issuance of money. In all capitalist countries money is created by the commercial banking system when it makes loans. Take that away by having the government create and issue money and you no longer have capitalism.

    As for this “free market” concept and practice, people who advocate it seem to think that it is run with little or no human intervention. In reality, there is no such thing as a free market because it can be manipulated and run in such a way as to screw the consumer. The “free market” gives shysters the opportunity to do just that.

  161. @Platonometrics

    Because all capitalism is is graft. It’s all crooked. And cannot be anything else. Your pie-in-the-sky libertarian “free market,” and the latest bugsword, “price discovery” (what a load), does not, and cannot, ever exist, and if it did, it wouldn’t work the way you say it does anyway.

  162. @BannedHipster

    I like how, when something goes right, it’s “market forces,” but when something goes wrong, it’s “capitalism has never been tried.” You people are so transparent and unselfaware.

    • Replies: @BannedHipster
  163. @Mefobills

    Exactly right. And proof that giving people free money (which is a good thing, I think, because rich people get lots and lots of free money all the time and nobody moans about that–because the free money they get by some magical thinking or other comes from the “free market”) works better than the “free market,” which isn’t “free” or a “market.”

    An equivalent example is that it is cheaper for municipalities to just give the homeless apartments than it is to let them stay on the street. Dumbass stinktankers strive mightily to refute this fact but it just keep coming back again and again, truer and truer with every instance.

  164. @Mefobills

    That was a long time ago, and Hungary has the same blueprint as other countries struggling.
    The corruption has to do more with nobleman and aristocracies then the Jews.

  165. antibeast says:
    @Digital Samizdat

    Nixon going to China in 1972 had nothing to do with economics. No ‘free’ trade treaties of any kind resulted from his visit. No sir: it was all about geopolitics, all about triangulating against the Soviets. ‘Free’ trade with China didn’t really begin until the early 90s when Poppy Bush urged that they be accorded ‘most favored nation’ trade privileges with the US, putting them on par with, for example, NATO allies.

    That was Clinton who granted MFN status on China in 2000.

    • Replies: @Digital Samizdat
  166. @Mefobills

    The welfare was given to black women… not the men, creating welfare queens.

    No argument here and that’s why I have said before that the great mistake was not investing in jobs programs for the men.

    People may grind their teeth at the thought of wealth transfers to a section of the negro population, but it is actually cheaper than funding jail time

    The problem here is that you end up rewarding criminals over poor workers. The better solution is to cut crime in the first place. 99% of Black shootings are over totally stupid stuff and yet Democrats still try to blame the gun supply. Well Black areas also have totally stupid stabbings and beatings so we need to move beyond blaming the tools which is really just a diversion from an uncomfortable subject.

    Why do you think private jails popped into being… there is money to be made… uh er transferred from the public taxpayer.

    There is money to be made because so many governments put their heads in the sand when it comes to crime. In a well designed society we shouldn’t be paying people to not commit crime nor should we be paying some private company to imprison them.

    Most of our crime problems wouldn’t exist if not for the Great Society programs. The Black crime rate actually increased after the 60s even though more was being spent on Blacks. That was the opposite of what Democrats had predicted. But Democrats today are unable to think critically about how they can help Blacks. They all signed up for a simplistic leftist explanation that just blames Whitey.

    Not that Republicans are any better. Too many of them have a simplistic view of crime where it’s all just a matter of morality. The libertarian view is the absolute worst as it calls for legalizing hard drugs even though most of the shootings are not over drugs.

  167. @onebornfree

    So he calls Libertarianism simplistic and you respond with a bunch of feely good quotes from libertarians?

    That is what Marxists do. You point out the flaws of their system and they dig up some quote from Engels and then depict you as on the side of them. But that isn’t addressing the flaws of the system. It’s avoidance.

    Isn’t it rather peculiar that Africa doesn’t have a single modernized state despite having numerous countries with far less government than the US? If your response is “well that’s Africa” then why do you have so much confidence in Ludwig and Rand? Especially when Rand denied that race can affect anything and it’s collectivist to think otherwise? If you accept Rand was wrong then how can you have confidence in Ludwig?

    I’m not trying to pick on race at random, it’s one of the easier ways to show how the libertarian ideology is built with deceit and that Rand was a nasty woman that had no interest in the truth.

    • Replies: @onebornfree
  168. @Eugene Norman

    Hi Eugene,
    I’d like to respond to your comment and point out where I disagree.
    “The fed is private. Not public.”
    Yes I know the Fed is private, but that’s basically irrelevant. What is relevant is that you have a government created central bank, like the ECB, the Bank of England, Bank of Japan, reserve Bank of Australia, People’s Bank of China, you name it, because what that does is it gives the central bank controlled banking system unlimited ability to create more and more credit out of thin air without real savings. The central bank coordinates the credit expansion.
    “if only the fed were not controlled by government, which it isn’t, then we would have a free market economy”
    That is not what I said. I want no central bank, all central banks are bad and were in fact advocated by Karl Marx. The reason why central banks were created was to give the banks control of the economy. The technical distinction about the US Fed being privately owned makes no difference.
    It is the central bank controlled system that has led to the uncontrolled inflation-monetary inflation- which has caused all the problems and which gives that central bank controlled banking system power to shape the entire investment structure, the capital structure, of the nation’s economy.

    “Chinese central banks mandating where the money should be lent to”
    China has ridiculous amounts of debt because of this central banking system. You can’t create money out of nothing without taking something from someone else. The value of someone else’s wages will go down relative to something else (like housing) or the value of someone else’s savings will go down relatively, or companies that get the new money will take economic resources from those who don’t. It’s a mirage. And it leads to bubbles and instability. China’s central bank is also a failure.

    “Then there’s the fetish about the gold standard, and the idea that this is in fact somehow more “free market”. In fact the gold standard was clearly a statist agreement between governments …”
    Gold is free-market money because it was chosen by people for thousands of years, in all civilizations that I am aware of, long before Breton Woods, to be used as money. It’s not a fetish. The fact that Breton Woods made it the basis of that system does not change the previous several millennia of gold being chosen freely by people to be used as money. The reason it is used as money is because it is precious, incorruptible, transportable, fungible and beautiful. In terms of its legal role in the modern world, the nations went off the gold standard at the outset of World War I because they needed access to unlimited sums of toilet paper money in order to achieve their military objectives of lining up several million young men in the trenches to kill each other.

    “I don’t buy the distinction between financial capitalism and the “free market””
    financial capitalism is nothing but a government organized counterfeiting racket. Take away the government mandated central bank and the privilege to create money out of thin air, given by the government, and it would no longer exist. It’s government leaf, root and branch.

    “As for the corporations, also a product of the free market”
    no they are not the product of the free market. They are the product of massive credit expansion at artificial interest rates courtesy of the government created banking system. That is why you have Amazon for example, grew for years with no profits just by borrowing more and more of this created out of thin air style money.

    “they outsource because it makes sense to them to do so for their own profit”
    America was able to run trade deficits for so long because of the central bank controlled banking system. Under the gold standard the whole thing would’ve stopped years ago. Why? Because when you run trade deficits the gold flows out of your economy then you don’t have any more money to pay. Simple as that. Self-correcting.

    “Uncontrolled immigration is also a free market ideology”
    I don’t think it is. I think the all-powerful bankers push it. But personally, I don’t see anything wrong with people protecting their national identities. I think a lot of the uncontrolled immigration comes from the loony left actually and the Marxist movement. Ever heard of “internationalism”? World government? Very much Karl Marx.

    “All free market ideologies opposes tarifs, so if you want to stop Chinese goods and you want American goods or industry to prosper behind a wall of tarifs (as in the 19C) then you are not a free marketer.”
    But without the central bank controlled toilet paper money system you couldn’t have run those never-ending trade deficits in the first place.

  169. jay says:

    If one wants to actually see capitalism in action. One will have to look before 1913.

    Otherwise its just a ponzi scheme.

  170. @Giraffehead

    “You shall not crucify mankind on a cross of gold!” said populist presidential candidate William Jennings Bryant in 1896. The gold standard benefits the holders of gold – state central banks. Regular as clockwork, every twenty years or so, the US economy experienced collapses`. Then the gold standard was abandoned, and we have not had a depression with anything like the severity of those in the gold money era. I don’t like it either, I enjoy the heft and feel of a few nice gold eagles in my hand, but as national financial policy, gold is a disaster.

    Some say the “free market” is in itself an illusion. The so-called free market operates the way it does because of government regulation, in our case the refusal of government to regulate and tax appropriately those who own and control our economy – which is hardly surprising, because it was on their behalf that the present regime was imposed on the American people way back in 1789.

  171. Chinaman says:
    @Just Passing Through

    Chinaman will suck off the hard work of the White Man.

    Look around your household and how many things are actually made in China, they are all the hard work of Chinaman. What have the white man done in this case? The white man have always been the parasite and sucking off the hard work of other societies when he sees the opportunity. That’s what colonialism was about.

  172. Chinaman says:
    @Fran Taubman

    I didn’t believe it and was as critical as everyone else but China have stumbled upon a solution which marries capitalism and socialism in harmony by keeping banking and other traditional sectors of the state owned and the growth sector of the economy capitalist.

    You won’t understand it since you just parrot everything you read or hear about China without doing your own investigation. It is people like you that ensures America will never be great again. Flexing your muscles and bashing China does not increase productivity.

    • Replies: @Fran Taubman
  173. @obwandiyag

    The Federal Reserve *is* the “free market.” Its entire function is to let the banking system “regulate itself” and protect it from democracy and “government interference.” The Federal Reserve is owned by the banks, not the government. It’s the opposite of socialism.

    The government only appoints the Board of Governors, but has no power to manage them. So, it’s privately owned and privately managed.

    This is exactly the “free market” you wanted. Why the complaints?

    Also, the Fed does not mandate interest rates in the markets. You are free to loan or borrow money and whatever rates you want, the only regulation being some limits mandated by state governments – NOT the Fed. The Fed’s interest rates only apply to the Fed itself and the member banks – NOT between banks nor between banks and consumers.

    That’s the free market. You should be happy.

    • Replies: @obwandiyag
  174. @BannedHipster

    Didn’t even read or comprehend what I said. And what you said doesn’t even make sense. What on earth are you babbling about.

    • LOL: BannedHipster
  175. Capitalism is just Epicurianism, “unlimited wants, limited resources”.
    Socialism is “limited needs, limited resources”.

    I want a gold toilet, but I need 2,800 calories per day. I don’t want 20,000. Needs and wants do not much overlap – I need a first house, I want a second house (I may need it for work etc, but you get the point).

    Capitalism, or a free market lightly regulated away from force (eg monopoly) and deceit, is the optimal way to deal with individual wants.

    Socialism, or a universal provision of needs, is the optimal way to deal with individual needs.

    The capitalist side of the economic problem is, by definition, unsatisfiable.. Really, anyone facing that quandary honestly should turn their eye to Dhamma, Stoicism, or some other faith – in order to take control of your wants, and not have to run the materialistic race.

    The socialist side, becomes more important with technological progress, and the systemic inequality division of labour brings. An agrarian society can’t provide everyone’s needs – it spends most of its time getting food on the table for most, most of the time. An advanced economy, for which food, housing, education, health, and defence, take up 30, 40% of GDP, as our OECD economies were until seignorage started destroying them completely in 2008, would not find it difficult.

    The problem is neither capitalism, nor socialism: it is socialist policies pushed onto the part of the economy that deals with wants, and should remain free market (especially subject to a universal provision of needs), as well as free market policies pushed onto the part of the economy that deals with needs (means tested welfare encourages competition to the bottom).

    The two sides of the economic problem are complementary, not competitive.

  176. Pretty amazing that we still have people arguing for “free market” and “minimal government” when these forces aren’t even able to meet current medical supply demand let alone handle the testing required for this outbreak. Would Libertarians really want to turn all medical supply sources to the free market and have hospitals near outbreaks bid against paranoid people in the middle of Montana? This is madness.

    It’s “big government” that has been successful in China and South Korea at containing the outbreak. Same for Germany.

    Should we dig up Libertarian quotes that call for the end to Federal agencies like the CDC? How about their opposition to Federal control of the borders? This is the same group that wants to legalize crack but keep the borders open.

    The kooky Libertarian cult needs to end. All remaining followers should move to Liberia and show the world how “minimal government” can solve everything. Rand said race doesn’t exist and is “collectivist” so you should have no problem turning Liberia into a first world country with some type of private CDC funded by magical fairies and pixie dust.

    • Troll: Beefcake the Mighty
  177. @Chinaman

    All the stuff I see around my house was invented by Europeans, Chinese merely had the privilege of making the stuff. Otherwise China would still be a Third World country, as they cannot invent anything new in great quantities, most things have been invented in the West and the things currently being researched are being researched in the West, where parasitical Chinese come to copy it.

    • Replies: @Commentator Mike
  178. eah says:

    The problem is that both the banks and the multi-nationals are highly corrupt, inefficient and are run by people who do not have America’s interest in mind.

    It doesn’t seem reasonable to claim or suggest that corruption (or inefficiency) is inherent to capitalism — so perhaps it is people who are “corrupt”; people who have forsaken Christian (or some kind of higher) morality — and this is why (or one reason) they no longer have the interests of their fellow citizens “in mind”.

  179. @Chinaman

    They have dictators and cannot vote for their representatives.
    Big huge problem. You can marry socialism with capitalism without the state running the banks.
    We do it all the time, with interest free loans etc.
    The Chinese people do not have much freedom when it comes to education and career choices. The government pretty much decides who does what.
    If mainland China is so great why is Hong Kong and Taiwan so adamant about staying out of their spheres.
    I know architects from mainland China who could not wait to get out of there.

    • Replies: @Chinaman
  180. onebornfree says: • Website
    @John Johnson

    Blah, blah, blah, yadda, yadda, yadda.

    Translation: “Mo’ gubmint, mo’ gubmint, mo’ gubmint! ” [i.e. the eternal, unceasing whine of rabid statists everywhere].

    “On most people the strain of being an independent adult weights heavily.” The State provides a way of eliminating “the psychic burden of adulthood.”— Randolph Bourne.

    So I suggest that you and the rest of the commie/government- worshiping dunderheads here either grow up fast, or move to China or N. Korea, where big daddy gubmint will look after you all , cradle to grave ,[because thats what they promise, and they “know best” how to run all y’alls lives for you , after all]. 🤣

    Y’all make me want to puke🤮

    No regards, onebornfree

    • Troll: Futurethirdworlder
    • Replies: @John Johnson
  181. @Chinaman

    This guy probably lives in Menlo Park and works at Google.

  182. @Just Passing Through

    The fault rests squarely on the shoulders of Western capitalists, it is they who transferred industries to China in their search for greater profits and ruined their own economies, sacked their own workforce, and opened their own borders to immigrant hordes to come and do any crappy jobs left over for less than they are willing to pay their own people. What has China got to do with any of that? They took what they were given and tried to turn it to best serve their own country and people. Why blame the Chinese for the faults of others? And the Western citizens are also at fault for allowing their capitalist bosses to do what they did, and for not seeking their revenge and stringing up the capitalist bastards and their politician enablers now that they have seen what they have done but still going along with whatever bullshit they feed them through their lying media and education and still turning up to vote as if that will change anything. The problem is not the Chinese. You can kick them all out but how are you going to bring back all the industries and production lines, create jobs so we can have full employment at a decent wage for a fair day’s work, seal the borders, and do whatever else so people can live fulfilling, healthy, meaningful and relatively prosperous lives in security, peace and harmony and with a sense of community? How? Maybe it’s too late and you can’t, and the capitalist bastards and the politicians will just keep on destroying your societies until there is nothing left worth calling a viable “society”. It was the West that brought down the bamboo curtain, not China. Or maybe globalism is truly the future and will bring prosperity to everybody as some keep telling me. Yeah, the whole world will get rich, just trust the globalist politicians – they have a plan.

    • Agree: Miro23
  183. @onebornfree

    I’m actually for cutting huge sections of government while increasing others.

    I’m not tied to Marxism or Libertarianism. I don’t have to serve some man (or woman) made ideology that claims there is some minimum or maximum amount of government that I must proselytize at all cost to reason. It’s called being an independent and though it is a lot more difficult I don’t have to carry this burden of having to defend some fixed ideology that someone clearly didn’t think through.

    I’ve debated both groups and they use the same strategies. They walk around thinking they are intelligent and have the answers but turn hostile and defensive to simple questions about why their plans haven’t worked.

    We know that Rand was wrong about human genetics and libertarians like yourself completely avoid the subject because it calls into claim the foundation of her entire ideology. If genetics matter then you can’t just swap any third worlder with a German or Brit and get the same results. That also means her theories regarding genius are flawed along with her demand for open borders. Well those assertions were the basis of her economic theories which means there is nothing left.

    Rand and Marx should be thrown in the trash. They encourage blind fanaticism and the rejection of reason. We analyze market problems on their own and not through some openly biased ideology.

  184. Chinaman says:
    @Fran Taubman

    I am so glad the average Chinaman can’t vote or we will get a demagogue like trump.

    It is interesting that no members is allowed to vote in almost every other organisation that is invented by mankind. schools, military and churches are inherently totalitarian and run by supreme leader.

    Can you imagine what happens if we get 6 year olds to vote on their curriculum. frontline Soldiers to vote on whether to charge the beaches on Normandy?

    People take it as a given that democracy is a good thing and dictatorship is bad but it is totalitarianism that brought us order, efficiency and the modern world.

    • Replies: @Fran Taubman
    , @Miro23
  185. @Chinaman

    Go back to China, a good place for someone who does not have two sticks to rub together in their brain to create an original idea.

  186. Corrupt says:
    @anarchyst

    ““Vulture capitalism” can be defined as the owners of businesses and industries that collude with each other, also in collusion with the “money types” (banksters) depressing wages solely to increase their stockholder “profits” at the top while impoverishing those who actually WORK, producing their products.”

    Labor is a commodity like any other. Are you willing to pay twice as much for a product (say oranges, or a car) to overpay labor? Using the most inexpensive means to achieve a goal or make a product is called efficiency. It is a good thing. Try it sometime.

    • Replies: @anarchyst
    , @John Johnson
    , @Ace
  187. anarchyst says:
    @Corrupt

    How does one “overpay” for labor? When labor is reduced to a commodity with little worth, planned by “those at the top”, you have the situation that we have now. Efficiency produced by utilization of “human capital” has intrinsic worth.
    If you had your way, employees would be paid a bare minimum while “those at the top” would reap all of the rewards.
    Read my post again. Henry Ford DID have the right idea.

    • Replies: @Corrupt
  188. BAP says:

    Ideologies aren’t capable of doing anything. Psychopaths, sociopaths, cluster Bs and idiots are.
    It worked the same way under feudalism, mercantilism, communism, socialism, liberalism, neoliberalism, … Everything is an exact loop of psychotic parasites leeching societies dry while having the support of masses of complete morons.

  189. Leftist says:

    Consume, consume, consume, consume, consume, consume. The problem with capitalism is, sooner or later, you run out of planet.

  190. Miro23 says:
    @Chinaman

    People take it as a given that democracy is a good thing and dictatorship is bad but it is totalitarianism that brought us order, efficiency and the modern world.

    Totalitarianism can bring order and efficiency but it comes at great risk.

    It is absolute power held by one person or a small group of people who may be interested in the wellbeing of their subjects (Julius Caesar, Peter I of Russia) or not (Bolshevik Jews, Pol Pot or a whole line of African despots).

    For their safety, the public have to hold power themselves and directly:

    Switzerland is a rare example of a country with instruments of direct democracy (at the levels of the municipalities, cantons, and federal state). … Between January 1995 and June 2005, Swiss citizens voted 31 times, on 103 federal questions besides many more cantonal and municipal questions.
    Wikipedia – “Swiss Democracy”

    The Swiss have the world’s longest running Democracy (since 1291). Their Democracy is cumbersome and expensive and requires a serious commitment by every citizen (required by law) but it works. Switzerland is an orderly and efficient modern society without totalitarianism.

  191. @Leftist

    Those hooked on growth are like junkies on heroin – they always need more. Steady-state economics could be the answer, but nobody is listening.

  192. @Leftist

    The problem with leftists is they ran out of brains and still can’t keep their stupid mouths shut.

    AJM

    • Replies: @Dannyboy
  193. @Corrupt

    Labor is a commodity like any other.

    No it is not like a commodity of any other.

    It involves the livelihoods of your fellow citizens and depressing their wages through immigration can ruin the country.

    If you let in every immigrant as Rand demanded the “free market” would be ruined because the country would be in chaos.

    Not everything can be simply reduced to supply and demand. There is also something called culture and it is becoming all the more apparent (to the chagrin of liberals and libertarians) that it has a genetic component. Genes have already been identified as linked to self-control but Rand said that isn’t possible. Randian thinking didn’t make sense in the 60s (why wouldn’t humans have genetic character traits?) and really doesn’t make sense now that we are unraveling the genome and showing that blank slate is wishful thinking.

    Without blank slate Randian thinking has huge problems. It would only work with egalitarian gene distribution which simply doesn’t exist.

    It is looking like Liberia will probably never meet 1980s GDR living standards despite having a free market for over 200 years.

    Rand was wrong, get over it. I did.

    • Thanks: anarchyst
    • Replies: @OilcanFloyd
  194. Corrupt says:
    @anarchyst

    If I’m selling widgets at $1 apiece and my employee can make ten per hour (assuming zero material and capital costs for simplicity sake), I would be overpaying the employee if the employee made more than a maximum of $8 (mandated overhead such as payroll taxes, unemployment, DI etc. cost a minimum of 25% of wages). If I actually consider profit, it would be foolish to make less than my overhead costs, leaving the employee overpaid at $6. Pretty simple.

  195. Corrupt says:

    “No it is not like a commodity of any other.

    It involves the livelihoods of your fellow citizens and depressing their wages through immigration can ruin the country.”

    Actually, your argument provides proof it is a commodity like any other, subject to supply and demand, since as you point out, immigration (especially the illegal variety which encourages off the book work) increases the supply of labor, reducing demand and wages.

    BTW, I do agree with you that immigration (especially illegal) should be suppressed to increase the wages of citizens and legal immigrants.

    • Replies: @Beefcake the Mighty
  196. @John Johnson

    I can’t believe that any adult takes Rand seriously.

    Of course different peoples have different genetic traits, which also influence the cultures that they create! Different dog breeds have different traits. Even different types of dogs, regardless of breed, have different traits. The same is true throughout the animal kingdom, so why should humans be different? Forcing different peoples to live together against their will is a recipe for trouble.

    I don’t understand why so many people have a problem seeing the troubles with capitalism, especially when it is accompanied by massive corruption. I think many are confusing capitalism with free enterprise. Whatever the case, no system would work well in a situation where the elites are thoroughly corrupt, unaccountable, hostile, and divorced from the masses.

  197. @Corrupt

    Yes. The issue of the (free) market for labor as such has nothing to do with (violent) interventions like open borders immigration, anti-discrimination law, etc.

  198. Dannyboy says:
    @Chinaman

    Wooo! Wooo!

    Angry Chinaman!

    Western man towers over the rest of the world in ways so large as to be almost inexpressible. It’s Western exploration, science, and conquest that have revealed the world to itself.
    Other races feel like subjects of Western power long after colonialism, imperialism, and slavery have disappeared.
    The charge of racism puzzles whites who feel not hostility, but only baffled good will, because they don’t grasp what it really means: humiliation.
    The white man presents an image of superiority even when he isn’t conscious of it.
    And, superiority excites envy.
    Destroying white civilization is the inmost desire of the league of designated victims we call minorities.”

    That’s the facts, Jack.

    • Agree: Sick of Orcs
  199. Dannyboy says:
    @Leftist

    Consume, consume, consume, consume, consume, consume. The problem with capitalism is, sooner or later, you run out of planet.

    Yes, of course. It not like the Chinese consume anything. They use that Chi to stay alive.

    • Replies: @Beefcake the Mighty
  200. @Dannyboy

    Exactly. The Chicaps make the Wall St banksters look like choir boys. It really is embarrassing what the left has convinced themselves of. Just like the right emasculated themselves after 9-11, Corona will cause the left to similarly self-castrate.

    • Agree: Dannyboy
  201. Have government take big stakes in corporations? Yep, no predictable unintended negative consequences from that. Bernie-lite to the rescue!

  202. @Mefobills

    This is why U.S. is a debtor nation and TRADE DEFICIT country. The finance sector of finance capitalism, exports dollars at debt to Industrial Capitalist countries like Germany and China.

    The great intellect in defense of the West “Andrew Joyce” in his latest piece which is currently headlining here at UNZ REVIEW

    https://www.unz.com/article/how-covid-19-will-test-the-west/

    appears like so many of us here to have benefited from your concepts distinguishing “finance capitalism” and “industrial capitalism” as evidenced by his proper use twice therein of the former as you have with unique insight defined it for us:

    Life under liberal finance capitalism is largely one of illusion, in which the prospect of real death is pushed far into the distance, both psychologically and culturally.

    In both cases, and throughout the West, moderately “conservative” populism based on the celebration of finance capitalism and token gestures on borders will be tested to the limit by increasing strains on all aspects of social, political, and economic life. Trump, in particular, has managed to squeeze a lot of political mileage out of the performance of the stock market.

    Your leadership is necessary in order for us to overcome the the death grip the devil’s children (John 8:44) currently have on us.

  203. Ace says:
    @anarchyst

    American labor had plenty of “value” until open borders flooded our country with parasitic foreigners who, when they work, take American jobs and drive down wage levels to something less than first-world standards. Then came off-shoring factory jobs that left millions of our workers with no wages at all or wages more attractive than those earned by baristas and dog walkers.

    Neither our workers or any of the rest of the patriotic majority could in their wildest dreams foresee the absolute malevolence that has driven our national political and economic life since 1965. Wall Street and Goldman have been enthusiastic parties to this gangrenous development but it isn’t and they aren’t “capitalism.” Capitalism, any more than the First Amendment, is not meant to be a suicide pact. A pact that is presently in the process of being fulfilled.

  204. Ace says:
    @Dannyboy

    David Hum is amazing. Thanks.

  205. Ace says:
    @Corrupt

    The Chinese aphorism is instructive. “Cheap isn’t cheap and expensive isn’t expensive.”

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