When high rates of interest--usury--became legal the working class became entangled in a new iteration of the company store, a continuation of slavery and feudalism whereby an elite siphons off the wealth labor creates.
The financial services sector is the new company store and because the workers of this country are among the most, if not THE most--productive of the world, there is a huge amount of wealth to rip off.
It simply shows how brainwashed we have become, to accept the greed of our current elite -- as vile as any communist cadre -- as the will of God, or the working of The Invisible Hand.
It's absurd. And when future historians look back on this post-Reagan era, they will shake their heads over our collective gullibility.
Wednesday, November 18, 2009
Wednesday, November 11, 2009
The Obama administration is not going to curb the financial services sector's excesses
The Obama administration is not going to curb the financial services sector's excesses. They front for them.
The Democratic Party mollifies the left while the Republican Party mollifies the right in a Tweedle Dee-Tweedle Dum political dance as a front for the financial services sector. It is the latest and arguably most sophisticated system -- in the continuum of slavery, feudalism, and fascism -- for an elite to siphon away the wealth labor creates.
It should be clear by now that we do not have a political party that represents the interest of labor ... and "labor" is NOT synonymous with "union" as in "labor union" ... IMHO.
History is the story of political/economic structures (and belief systems to support those structures) that siphon off the wealth created by labor by an elite: slavery, feudalism, fascism. As an aside, Hitler's contribution was to convince a whole ehnic group that they were "the elite" and could live off the labor of "lesser peoples."
The current elite -- the financial services sector's gurus -- siphon the wealth through forward-leaning instruments of debt. They use our money to create these instruments at obscene multiples called leverage, thereby tightening the stranglehold on future earnings. If they had to suffer the consequences of their actions in creating an unsustainable debt-hold into the future, they might not do it ... but there is the point that the individual guru (banker) can get his/her money up front in pay and bonuses, no matter what the future to the "bank" ... and then when we, the taxpayer/worker, turn around and bail the bank out for ripping us off ... well, it's absurd on the face of it, don't you think?
The Obama administration is the fox in the hen house ... clearly.
Posted to www.huffingtonpost.com/social/hglindquist
The Democratic Party mollifies the left while the Republican Party mollifies the right in a Tweedle Dee-Tweedle Dum political dance as a front for the financial services sector. It is the latest and arguably most sophisticated system -- in the continuum of slavery, feudalism, and fascism -- for an elite to siphon away the wealth labor creates.
It should be clear by now that we do not have a political party that represents the interest of labor ... and "labor" is NOT synonymous with "union" as in "labor union" ... IMHO.
History is the story of political/economic structures (and belief systems to support those structures) that siphon off the wealth created by labor by an elite: slavery, feudalism, fascism. As an aside, Hitler's contribution was to convince a whole ehnic group that they were "the elite" and could live off the labor of "lesser peoples."
The current elite -- the financial services sector's gurus -- siphon the wealth through forward-leaning instruments of debt. They use our money to create these instruments at obscene multiples called leverage, thereby tightening the stranglehold on future earnings. If they had to suffer the consequences of their actions in creating an unsustainable debt-hold into the future, they might not do it ... but there is the point that the individual guru (banker) can get his/her money up front in pay and bonuses, no matter what the future to the "bank" ... and then when we, the taxpayer/worker, turn around and bail the bank out for ripping us off ... well, it's absurd on the face of it, don't you think?
The Obama administration is the fox in the hen house ... clearly.
Posted to www.huffingtonpost.com/social/hglindquist
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