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Forum Post: Feedback please: "Do Stock Markets Make Sustainability Impossible?"

Posted 1 month ago on Feb. 18, 2017, 2:28 p.m. EST by Alternatives2WallSt (15)
This content is user submitted and not an official statement

Feedback needed for: "Do Stock Markets Make Sustainability Impossible?" http://Stocknectar.Org/sustainability

Subheadings:

  1. Unless stocks are deemphasized and bonds emphasized, it is ludicrous to assume that solar energy—or anything else—can create sustainability.
  2. Protesting stock markets is as important as protesting air pollution—but nobody is doing so.
  3. The New York Stock Exchange is not an original or necessary institution for capitalism, democracy, Christianity, America or free enterprise.
  4. There is no magical law that requires stock markets to have happy endings.
  5. Overpopulation is not mandated by religion so much as by stock markets.
  6. No movement is making the essential moves against Wall Street to make sustainability possible.

Anyone please reply here with your agreements, disagreements, comments, questions, suggestions, etc. Thank you. This is needed for this new perspective. Apparently--in spite of much random ire against "Wall Street" and "unsustainable growth-reliance"--the stock market, obvious elephant of growth-reliance, seems never to have been precisely fingered before. And it seems next-to-impossible to get any hearing from major progressive figures, environmental groups and news outlets.

Exerpts which mention OWS:

2. Protesting stock markets is as important as protesting air pollution—but nobody is doing so.

Of course, there has been an "Occupy Wall Street" movement. However, the Wikipedia article on OWS mainly lists protests against some of the inevitable consequences of overemphasis on stock markets: "wealth inequality, political corruption, corporate influence of government." There seems to be no clear suggestion to deemphasize stock market investing.

6. No movement is making the essential moves against Wall Street to make sustainability possible.

  • There is what I call the “High Plains Drifter” initiative. This means firstly, for one reputable economist to write one book arguing that capitalism has a future if and only if stock markets are deemphasized. Secondly, for the leaders of one underdeveloped or “outsider” nation to read said book...

  • Or, a “Newman Age” could be upon us if some new promotional strategy somehow enabled stock market corporations in every sphere to be eclipsed by for-charity corporations à la Newman’s Own—with a similar ferocity as My Space was eclipsed by Facebook...

  • Or, a “Fight Fire With Fire” initiative might mean for some nonprofit foundation to manage “socially responsible” brokerages, autotrading systems, trust funds and mutual funds. If 1/3 of the foundation’s resulting income were used to finance pro-environmental politicians and organizations—while 2/3 were hoarded and reinvested—this eventually might build up a war chest with which to enable environmentalists to cross swords with billionaires and corporations. Currently however, environmentalists must forever act like the Dutch boy with a finger in a dyke.

The Occupy Wall Street movement has been a vital first step. Just as it is often vital for the victims of child abuse to meet in group therapy. Thus to nurture the courage to vocalize violations by people who they were taught to awe and revere.

However, group therapy cannot fully be successful until the abusers are meaningfully confronted. Occupy Wall Street has produced little attempt to blueprint a non-abusive financial system.

Ebay, Google and Facebook all had humble beginnings—and yet, soon eclipsed stock market giants, even before joining the stock market. For the first time in history, it is no longer necessary to own steel mills in order to challenge the likes of Carnegie and Mellon. What is lacking today is only the will, not the capability. Each of the above “non-Wall Street initiatives” obviously could be accomplished within fewer than a dozen years by fewer than a dozen inspired individuals. This is probably a narrow window of opportunity and to which almost nobody is yet responding.

4 Comments

4 Comments


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[-] 1 points by agkaiser (1640) from Fredericksburg, TX 1 month ago

The profits of the FIRE sector are the losses of the rest of the human race. The FIRE sector is technically parasitic. It makes no real product. It adds value to nothing and cost to everything. It extracts wealth from real economic activities of producers and consumers. When the money that represents the wealth appropriated by the banksters, billionaires and the rest of the FIRE that's ravaging the human race and enslaving us with debt becomes too concentrated with the parasites that own everything or hold the paper on it, they loan it back to us at interest that compounds the problem. If the banks run out of money [they've stolen by usury] they create more on their ledgers or the government loans [at near zero interest] or gives it to them out of your tax money. Of course they loan that to us or the [wholly owned and in their pocket] government at more profitable interest that, again, compounds the problem.

Only a moron could believe the pyramid scam that is capitalism can be sustained forever.

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

Wall Street exists only for the benefit of Wall Street! Modern Banks are Institutions that ''Hoover Up'' NOT ''Trickle Down'', anything other than shit!! The World Bank & IMF are organisations set up after WW2 to reconstruct Europe but after inception of Cold war they have become part of the tug of war between Capitalism and Communism and are now part of ... The Global Banksterocracy!!! However, digressing here now,so I'll try to come back to make a more thoughtful reply later.'Til then,consider Automated Algorithmic High Frequency Trading is a massive problem! And I'll append the following:

radix omnium malorum est cupiditas ...

[-] 1 points by DKAtoday (33037) from Coon Rapids, MN 1 month ago

"Do Stock Markets Make Sustainability Impossible?"

In a word = YES

The stock market promotes corruption to get the most out of nothing and shaft the investor that bought into your scam!

The more faces a broker rips off of investors the more millions in bonuses that broker will recieve!

[-] 1 points by beautifulworld (22707) 1 month ago

Richard Wolff, economist, touches on these ideas and the chaos our economic system, focused on profit alone, produces.

https://www.youtube.com/watch?v=qeylp9UPeNk (especially at 40:00 minutes in)

https://www.youtube.com/watch?v=Iz4YLH-bQlo (Markets Schmarkets)

Yanis Varoufakis on the unsustainability of the markets:

http://www.reuters.com/article/us-ecb-qe-varoufakis-idUSKBN0MA0H120150314

Max Keiser on the unsustainability of the markets:

http://www.maxkeiser.com/tag/stock-market-crash/

Gar Alperovitz on the need for a new economic system:

http://www.garalperovitz.com/2015/05/need-new-economic-system/

Gar Alperovitz, "Some Requirements of a Steady-State Economy":

http://www.humansandnature.org/economy-gar-alperovltz

From the Alperovitz link above:

"On Corporate Growth and Corporate Power

So long as large private corporations must meet stock market demands for ever-greater (often quarterly) profit increases, they must “grow or die.” This dynamic is diametrically opposed to the need to slow or halt overall growth and resource use in general. And it also runs directly contrary to the need to control carbon emissions in particular. Additionally, corporate political power commonly acts as a powerful obstacle to progress on other vital ecological issues—as we have seen in the United States with the failed climate change legislation and continued efforts to discredit climate change science."