Posted 11 months ago on Feb. 10, 2021, 5:50 p.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
What kind of enterprises do we need to best support human (and individual, obviously) survival?
How do we convince lenders to support the production of material goods and services instead of the rent seeking parasitizations and the asset stripping and dismantling of industry that has turned Wall St. into a virtual game board for rich investors? Then there are activities like high speed trading that make money but contribute less than nothing to the real economy.
Michael Hudson has a lot to say about public versus private banking and the kind of economic activity that is permitted and/or encouraged by each. "... A public bank is not going to make corporate takeover loans or loans to corporate raiders. It's going to make loans to actually increase the tangible economy, not to take it over and turn public infrastructure - the education system, healthcare, transportation and communications – into rent extraction...." https://www.nakedcapitalism.com/2021/02/michael-hudson-changes-in-super-imperialism.html post-vid 06-Rents-or-Growth-2-10-2021
Not only banking and finance have devolved to dysfunctional rentier parasitisms. Energy, mass transportation and communications, medicine and especially pharmaceuticals seek profit streams by methods not conducive to the missions which they claim to accomplish.
Take Covid vaccines for example. Why are there proprietary vaccines? Why are patent monopolies allowed and production and distribution limited by intellectual property rights? The health and well being of people and our communities should not be placed at risk to secure the profits of Pharma parasites. Their properties will be confiscated and their persons arrested, tried, convicted and imprisoned, if America and the world ever awaken!
Video link https://youtu.be/t9nyWXlvjRw