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  • Thanks UT. Yes, that's exactly right. The books by Varoufakis too are brilliant at demystifying the workings of finance capital. His "Talking To My Daughter About The Economy" is terrific
  • I see the major problem with capitalism is simply greed. Capitalism is corporatism, which disagrees with what a democracy is. Politicians, meant to represent the people by their vote, are simply paid off by corporations to do their personal bidding- not the will of the people. You see it in Brussels, you definitely see it here in the U.S.- hell, our damn food supply is run by German owned Bayer! (and we all know their criminal history). The citizens have no say in these decisions. Politicians get paid off, so nothing changes. It’s a broke system because of greed. Don’t even get me started on how our tax dollars are used, funds just ‘magically’ disappear- and no one is held to blame!

    Banks simply ‘cook the books’ as they say. A 700 million-dollar yearly loss can be edited into accounting records to spread out over years into the future, by use of derivatives and other finance fraud. No one is held accountable, and if an investigation ensues- the banker in question winds up dead! You see, this is what happens in any deregulated corporate system- there is no oversight. Corporations and Banks just game the system, until they cause a huge financial crash. The government then bails out the failed bank and/or corporation, and it’s citizens are left in a shambles! Fraud and greed lead to Capitalism’s downfall.
    Post edited by Ponygurl at 2020-01-08 16:33:24
    U R I E L
    What is done in the dark will always come to light
  • Ponygurl said:

    I see the major problem with capitalism is simply greed....fraud and greed lead to Capitalism’s downfall.



    Thanks PG. As far as I can see, capitalism is by its nature greedy and rapacious. How did the first owners of capital obtain it? In the UK, by a process of enforced seizure of common lands - the highland Clearances, the Enclosure Acts etc. In the US by the genocide of native peoples and the seizure of land through force and fraud. Modern capitalist enterprises have to be 'greedy'  - to screw workers wages to a minimum and engineer artificial shortages so as to force prices up - or else go out of business. It is by its nature a bloodthirsty system.

    Anyway, the pooint is that living in a society where this is the norm has a deep effect on each of us, our mindset and emotions. It makes us see our neighbours as competitors, rather than supporters. It makes us perpetually anxious about our livelihoods. Our fellow creatures are treated as nothing more than the raw material for making more money. We all end up anxious, insecure, and isolated.
  • @whispered Word.
    U R I E L
    What is done in the dark will always come to light