Capitalism Guarantees Rising Inequality

[gnarlylove]

The majority isn't any more wise, caring, just or principled than the so-called "plutocracy." Democracies are noted for the venality, cruelty, arbitrariness and general idiocy. The lynch mob is democracy in its purest form.

Are we living in the same country? I'm glad you're willing to really say what you believe. It results in such fine eloquence on your part although its completely absurd. Democracy as I mentioned is governed by the people with a civil servant arbitrating between policy and the people. They are not permitted to serve self-interests in this position. While I admit this doesn't necessitate accuracy or wisdom, it does result in people being treated the way they choose--that's called freedom.

 

[dblack]

The majority isn't any more wise, caring, just or principled than the so-called "plutocracy." Democracies are noted for the venality, cruelty, arbitrariness and general idiocy. The lynch mob is democracy in its purest form.

Are we living in the same country? I'm glad you're willing to really say what you believe. It results in such fine eloquence on your part although its completely absurd. Democracy as I mentioned is governed by the people with a civil servant arbitrating between policy and the people. They are not permitted to serve self-interests in this position. While I admit this doesn't necessitate accuracy or wisdom, it does result in people being treated the way they choose--that's called freedom.

That's a weird definition of freedom, don't you think? From where I sit, democracy isn't the same thing as freedom.

 

[georgephillip]

The latest exploits of the Great Vampire Squid:

"…Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals.

So, new topic.... should we allow banks to buy non-banking business?


First, banks have owned commodities for ages. Since the beginning of the country really. It's not a 'new' or change in the law that banks own copper, or oil, or even corn feed. That's what the commodity market is all about. It's nothing new or important.

What is relatively new, is banks owning production of such commodities. This however, is just another illustration of just how much regulation there is of US Banking, over international banking.

Banks in other countries never had this restriction. The largest bank that owns the most non-banking industry, is actually Barclays, which is British. Other massive banks that own hundreds of non-banking business, are AXA which is French, UBS AG which is Swiss, Deutsche Bank AG which is German, Credit Suisse Group which is Switzerland, and lastly Natixis which is also French.

The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet | Politics News | Rolling Stone

"The irony was incredible. After fucking up so badly that the government had to give them federal bank charters and bottomless wells of free cash to save their necks, the feds gave Goldman Sachs and Morgan Stanley hall passes to become cross-species monopolistic powers with almost limitless reach into any sectors of the economy."

Sounds pretty important. Also sounds like we are entering a new era of monopoly control. Not talking about your grandma's AT&T monopoly either!

Apparently there was a small provision of Gramm-Leach-Bliley that virtually no one understood when the legislation passed. This provision allowed commercial banks to delve into any activity that is "complementary to a financial activity and does not pose a substantial risk to the safety or soundness of depository institutions or the financial system generally."

""From the perspective of the banks," says Saule Omarova, a law professor at the University of North Carolina, 'pretty much everything is considered complementary to a financial activity.'

"Fifteen years later, in fact, it now looks like Wall Street and its lawyers took the term to be a synonym for ruthless campaigns of world domination. 'Nobody knew the reach it would have into the real economy,' says Ohio Sen. Sherrod Brown.

"Now a leading voice on the Hill against the hidden provisions, Brown actually voted for Gramm-Leach-Bliley as a congressman, along with all but 72 other House members. 'I bet even some of the people who were the bill's advocates had no idea.'"

The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet | Politics News | Rolling Stone

Obviously that part about posing a substantial risk to the safety or soundness of the financial system got lost in tran$lation, as I'm sure we will all be reminded of very soon.

 

[bripat9643]

The majority isn't any more wise, caring, just or principled than the so-called "plutocracy." Democracies are noted for the venality, cruelty, arbitrariness and general idiocy. The lynch mob is democracy in its purest form.

Are we living in the same country? I'm glad you're willing to really say what you believe. It results in such fine eloquence on your part although its completely absurd. Democracy as I mentioned is governed by the people with a civil servant arbitrating between policy and the people. They are not permitted to serve self-interests in this position. While I admit this doesn't necessitate accuracy or wisdom, it does result in people being treated the way they choose--that's called freedom.

You're talking about some pie-in-the sky delusion. I'm talking about reality. All you have to do is look at the history of real democracies to know that what I say is true.

Just take the Athenian democracy, for example. It attempted to establish hegemony over its neighbors. It engaged in numerous wars. It inflicted cruel and arbitrary punishments on its citizens.

Then consider the French Republic. It spilled more blood than any monarch had ever conceived of in his wildest imagination.

What is there about democracies that should be admired?

 

[bripat9643]

The majority isn't any more wise, caring, just or principled than the so-called "plutocracy." Democracies are noted for the venality, cruelty, arbitrariness and general idiocy. The lynch mob is democracy in its purest form.

Are we living in the same country? I'm glad you're willing to really say what you believe. It results in such fine eloquence on your part although its completely absurd. Democracy as I mentioned is governed by the people with a civil servant arbitrating between policy and the people. They are not permitted to serve self-interests in this position. While I admit this doesn't necessitate accuracy or wisdom, it does result in people being treated the way they choose--that's called freedom.

That's a weird definition of freedom, don't you think? From where I sit, democracy isn't the same thing as freedom.

Libturds like to confuse democracy with freedom so they can swindle the voters into selling themselves into slavery.

 

[bripat9643]

FWIW, I don't think you engage in paranoid thinking on matters like these.
Gramm-Leach-Bililey seems a prime example of how "they", meaning government in service to private wealth, enact laws that work to the economic detriment of most citizens.

"...banks aren't just buying stuff, they're buying whole industrial processes. They're buying oil that's still in the ground, the tankers that move it across the sea, the refineries that turn it into fuel, and the pipelines that bring it to your home.

"Then, just for kicks, they're also betting on the timing and efficiency of these same industrial processes in the financial markets – buying and selling oil stocks on the stock exchange, oil futures on the futures market, swaps on the swaps market, etc.

"Allowing one company to control the supply of crucial physical commodities, and also trade in the financial products that might be related to those markets, is an open invitation to commit mass manipulation.

"It's something akin to letting casino owners who take book on NFL games during the week also coach all the teams on Sundays…"

?The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet,? by Matt Taibbi

Didn't Kissinger draw a comparison between controlling oil and controlling food?

Matt is funny when he gets sand in his vagina.

When a single company controls the supply of crucial physical commodities and trades in complex financial products related to those markets, does that plant happy pennies in your pussy?

What single company controls the supply of oil?

 

[gnarlylove]

That's a weird definition of freedom, don't you think? From where I sit, democracy isn't the same thing as freedom.

"people being treated the way they choose" is an odd way to construe freedom? Freedom is not synonymous with democracy but if practiced in a way that enables the people to decide their own fate, that sounds like increasing freedom.

 

[bripat9643]

That's a weird definition of freedom, don't you think? From where I sit, democracy isn't the same thing as freedom.

"people being treated the way they choose" is an odd way to construe freedom? Freedom is not synonymous with democracy but if practiced in a way that enables the people to decide their own fate, that sounds like increasing freedom.

Wrong. If 900 lemmings vote to jump over the cliff, does that make it "freedom" for the 100 lemmings who voted not to?

 

[gnarlylove]

What is there about democracies that should be admired?

Now here I agree with you, democracy is not necessarily praiseworthy. There is nothing special about theories. What matters is how they are practiced. That leads us to asking how do we actually treat humans and if they should be ranked or stratified how do we determine that, which is where we diverge. I find inherent dignity in every person and you dismiss this for a hierarchy that says people are worth what they get paid.

 

[bripat9643]

What is there about democracies that should be admired?

Now here I agree with you, democracy is not necessarily praiseworthy. There is nothing special about theories. What matters is how they are practiced. That leads us to asking how do we actually treat humans and if they should be ranked or stratified how do we determine that, which is where we diverge. I find inherent dignity in every person and you dismiss this for a hierarchy that says people are worth what they get paid.

How much they get paid only reflects the value of what they produce. However, I don't find much of value in people who don't produce much of anything. Why shouldn't we place a higher value on someone who invents the light bulb or an assembly line that can crank out 20 million automobiles at a reasonable price over the welfare queen who does nothing but pop out mouths for others to feed?

 

[gnarlylove]

http://www.nytimes.com/2014/02/10/u...ge-illustrates-web-of-industry-ties.html?_r=0

"In this case, the policy dispute is over whether increasing the minimum wage by nearly 40 percent to $10.10 an hour within two and a half years would reduce poverty or further it.

"Even if the legislation never passes — and it is unlikely to, given the political divide in Congress — millions of dollars will be spent this year on lobbying firms, nonprofit research organizations and advertising campaigns, as industry groups like the National Restaurant Association and the National Retail Federation try to bury it.

"Liberal groups, in turn, will be spending lots of money as they try to make the debate a political issue for the midterm elections."

http://www.nytimes.com/2014/02/10/us/politics/fight-over-minimum-wage-illustrates-web-of-industry-ties.html?_r=1

This was an excellent exposure of the corruption that surrounds raising minimum wage. Going so far as to bribe academics to produce favorable studies, which is nothing new. The job creators stand to loose profits and so they fight tooth and nail. Why? It's not like they won't be able to send their daughter to Harvard, it just means she won't get that new Porsche in addition to her BMW.

On the other hand, an increase in Min Wage for many in the working class means a noticeable increase in spending power (stimulating the economy) and moderate alleviation of stress brought on by hard times.

If you want profit maximization you will side with "the minimum wage increase is harmful" but if you have common sense, you will see this mild increase stands to benefit the economy across the board.

 

[EconChick]

Where is Democracy to be found in a world where the three richest individuals have assets that exceed the combined GDP of 47 countries?

Who cares.

Besides, inequality has jumped under this President.

 

[gnarlylove]

How much they get paid only reflects the value of what they produce. However, I don't find much of value in people who don't produce much of anything.

Can you tell me what the stock market does for society? What does it produce that is so valuable? I wonder because the richest people in the world center around its "products." They aren't building schools or producing tables or water purifying systems on Wall St. They aren't collecting my trash or providing my electric. They only do these things some of the time as a result of the insane money they made on these financial products. The products themselves seem to have little value but they are the richest people on the planet.

 

[Toddsterpatriot]

FWIW, I don't think you engage in paranoid thinking on matters like these.
Gramm-Leach-Bililey seems a prime example of how "they", meaning government in service to private wealth, enact laws that work to the economic detriment of most citizens.

"...banks aren't just buying stuff, they're buying whole industrial processes. They're buying oil that's still in the ground, the tankers that move it across the sea, the refineries that turn it into fuel, and the pipelines that bring it to your home.

"Then, just for kicks, they're also betting on the timing and efficiency of these same industrial processes in the financial markets – buying and selling oil stocks on the stock exchange, oil futures on the futures market, swaps on the swaps market, etc.

"Allowing one company to control the supply of crucial physical commodities, and also trade in the financial products that might be related to those markets, is an open invitation to commit mass manipulation.

"It's something akin to letting casino owners who take book on NFL games during the week also coach all the teams on Sundays…"

?The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet,? by Matt Taibbi

Didn't Kissinger draw a comparison between controlling oil and controlling food?

Matt is funny when he gets sand in his vagina.

When a single company controls the supply of crucial physical commodities and trades in complex financial products related to those markets, does that plant happy pennies in your pussy?

No single company controls the supply of crucial physical commodities .

and trades in complex financial products related to those markets,

Just because you're too dumb to understand them doesn't made the financial products complex.
Just because financial products are complex doesn't make them bad.

 

[KNB]

Monsanto has a 93% market share of soy production, as well as a patent on most of the corn grown in the US. That's controlling the supply of crucial physical commodities.

Do Republicans think that the Founders envisioned one corporation with a 93% market share on our food production?

 

[thereisnospoon]

http://www.nytimes.com/2014/02/10/u...ge-illustrates-web-of-industry-ties.html?_r=0

"In this case, the policy dispute is over whether increasing the minimum wage by nearly 40 percent to $10.10 an hour within two and a half years would reduce poverty or further it.

"Even if the legislation never passes — and it is unlikely to, given the political divide in Congress — millions of dollars will be spent this year on lobbying firms, nonprofit research organizations and advertising campaigns, as industry groups like the National Restaurant Association and the National Retail Federation try to bury it.

"Liberal groups, in turn, will be spending lots of money as they try to make the debate a political issue for the midterm elections."

http://www.nytimes.com/2014/02/10/us/politics/fight-over-minimum-wage-illustrates-web-of-industry-ties.html?_r=1

This was an excellent exposure of the corruption that surrounds raising minimum wage. Going so far as to bribe academics to produce favorable studies, which is nothing new. The job creators stand to loose profits and so they fight tooth and nail. Why? It's not like they won't be able to send their daughter to Harvard, it just means she won't get that new Porsche in addition to her BMW.

On the other hand, an increase in Min Wage for many in the working class means a noticeable increase in spending power (stimulating the economy) and moderate alleviation of stress brought on by hard times.

If you want profit maximization you will side with "the minimum wage increase is harmful" but if you have common sense, you will see this mild increase stands to benefit the economy across the board.

The issue of the minimum wage is based on a political scheme. The issue does not solve any problems low wage earners face. It does however get their attention in that they may be enticed to vote for those who they believe are their providers.

 

[KNB]

Minimum wage just means that if they could pay us even less, they would.

 

[Indeependent]

Minimum wage just means that if they could pay us even less, they would.

Well, yeah.
And both parties are ready to comply to have such occur.

 

[thereisnospoon]

How much they get paid only reflects the value of what they produce. However, I don't find much of value in people who don't produce much of anything.

Can you tell me what the stock market does for society? What does it produce that is so valuable? I wonder because the richest people in the world center around its "products." They aren't building schools or producing tables or water purifying systems on Wall St. They aren't collecting my trash or providing my electric. They only do these things some of the time as a result of the insane money they made on these financial products. The products themselves seem to have little value but they are the richest people on the planet.

Yer kidding, right?
Those investors pour money into companies which provides capital that is used to keep the doors open which also permits these firms to create jobs.
What you know about investors could not fill a thimble. Isn't that right Mr. OWS?

 

[thereisnospoon]

Monsanto has a 93% market share of soy production, as well as a patent on most of the corn grown in the US. That's controlling the supply of crucial physical commodities.

Do Republicans think that the Founders envisioned one corporation with a 93% market share on our food production?

Are you sure about that?
Let me tell you something.....The reason wjhy corn prices have skyrocketed is because the fucking federal government mandated the 10% ethanol rule. What is the main ingredient in ethanol? Corn.
In fact 40% of the corn grown in the US no longer goes to food products for people and feed for cattle. It's used for ethanol.
The federal government created a de facto subsidy for Monsanto and other corn producers by guaranteeing them a share in the production of automobile fuels.
Go screech that the US Capitol.