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Forum Post: Debt Treachery

Posted 3 weeks ago on Oct. 16, 2019, 4:30 p.m. EST by agkaiser (2390) from Fredericksburg, TX
This content is user submitted and not an official statement

Rentiers (those who live off property or investments/interest) are not just living by the work of we the people. Their exploitation makes them traitors and threats to the human race.

Docile debt payers are treacherous and like lender/investors. We're less a threat to the survival of the human race. We at least do some real work to earn our living, unlike the rentiers who own most of the corporate stocks and bonds and grow rich by profiting from our work.

The IMF and World Bank have forced austerity on nations around the world to service debt, as they are forced to do by the neo-liberal master lenders. The more we suffer, the more they profit. Capitalism is a failed system for at least 90% of the human race. Those it serves do not deserve to live, because they live by the work and suffering of the rest of us.

"... The consequences of IMF orthodoxy are often deadly, with the Malawi case as one very painful episode. In 1996, the IMF staff pushed the government of Malawi to privatize its agricultural development and marketing corporation. This body held Malawi’s grain stock, and it regulated the price for the sale of grain in the country. Privatization of the corporation in 1999 left Malawi’s government without a means to protect its population in case of an emergency. Between October 2001 and March 2002, the price of maize shot up by 400 percent. Flooding in 2000-2001 and a year of drought set the food production in the country into distress. People began to die of starvation—as many as 3,000. The IMF did not relent. Malawi had to continue to service its debt.,,,"

https://www.nakedcapitalism.com/2019/10/the-imf-convenes-in-washington-deaf-to-the-suffering-it-causes-across-the-planet.html

5 Comments

5 Comments


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[-] 1 points by ImNotMe (1488) 3 weeks ago

"The IMF's economic stranglehold at the root of Ecuador's indigenous-led protests'' - From ...

Btw both "Jeremy Corbyn (&) Bernie Sanders Back Ecuador Anti-IMF Protests!" Finally from your link:

note .. ''No one within the IMF meeting will raise the question of democracy, both in terms of the IMF’s own functioning and in terms of the IMF’s relationships with sovereign countries - all around the world. Ecuador’s streets rejected the IMF's deal. Argentina’s electorate will do the same in a few weeks. Will there be room to start a conversation now, about the divergence between IMF policy and democracy? The main lesson of these uprisings isn't only that the people want fuel subsidies, or a stable currency; but what they want more than anything is democratic control over their own economy.''

ad iudicium ...

[-] 3 points by agkaiser (2390) from Fredericksburg, TX 3 weeks ago

The economy is how a people maintain life. To the capitalist masters, it's about how they enrich themselves at the expense of everyone else. The first economy is necessary and proper. The second is a parasitic disease of the first. Capitalism is abomination.

[-] 1 points by ImNotMe (1488) 2 weeks ago

So consider "While 'capitalism' is 'unfettered' - it's the rest of us who are in the f-ing chains! Wake up people'' - before it is too late!'' - adapted from a reply by bw from here ...

radix omnium malorum est cupiditas ...

[-] 1 points by beautifulworld (22990) 2 weeks ago

Corporate Tax Avoidance Remains Rampant Under New Tax Law

60 Profitable Fortune 500 Companies Avoided All Federal Income Taxes in 2018

See the list here:

https://itep.org/notadime/

Companies Represent Diverse Economic Sectors

"The companies avoiding income taxes in 2018 represent a range of segments of the U.S. economy:

Computer maker International Business Machines (IBM) earned $500 million in U.S. income and received a federal income tax rebate of $342 million.

The retail giant Amazon reported $11 billion of U.S. income and claimed a federal income tax rebate of $129 million.

The streaming service Netflix paid no federal income tax on $856 million of U.S. income.

Beer maker Molson Coors enjoyed $1.3 billion of U.S. income in 2018 and received a federal income tax rebate of $22.9 million.

Automaker General Motors reported a negative tax rate on $4.3 billion of income.

Yep, socialism for the corporations, exploitative capitalism and austerity for the rest of us.

The moral to this story is only vote for politicians like Bernie Sanders, who will tax the rich and corporations!

[-] 1 points by ImNotMe (1488) 1 week ago

''60 Profitable Fortune 500 Companies Avoided All Federal Income Taxes in 2018'' - see the list:

Far too many Americans, get very animated over the expenses of any social provision for themselves and each other ... BUT REFUSE TO QUESTION USA'S huge military expenditure &/or question TAX CUTS FOR THE ULTRA-RICH and the MASS TAX AVOIDANCE AND EVASION by US Corporations thereby enabling a denuding of The Public while enriching and engorging The Private! Alas "the moral of this story" - is simple self-preservation by trying to act in our own long time collective best interests!

Stockholm Syndrome is so fukt up!