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Forum Post: It won't end well.

Posted 1 month ago on Sept. 13, 2021, 10:12 a.m. EST by agkaiser (2514) from Fredericksburg, TX
This content is user submitted and not an official statement

All rentiers are a parasitic disease of the real economy. Compound interest or profits on non productive financial activity can only concentrate wealth at an exponentially growing rate. This can't end well.

29 Comments

29 Comments


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[-] 2 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

We must learn to distinguish between productive and non productive economic activity.

[-] 2 points by beautifulworld (23476) 1 month ago

We must reward productive activity, in other words, income earned through work. And, we must tax non-productive economic activity, such as earnings on stocks, rental income and inheritance.

That is how you reduce inequality and make for a happier society like those in Iceland, Norway, and Denmark.

[-] 1 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

And then catch up with Moses and declare debt Jubilees.

[-] 2 points by beautifulworld (23476) 1 month ago

David Graeber, RIP, who came up with the term "We are the 99 Percent" wrote the book on debt and jubilees, "Debt: the First 5000 Years."

https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years

Throughout history governments have shown benevolence to their people when their debts became so high (inevitably this always happens over time) that the regular folks could no longer function and live decent lives, by giving them jubilees, forgiving them of said debt.

They could do this then and could do this now because money is a human creation. It's not something that can't be controlled though we're made to think that is the case.

How money and economic systems are handled is a choice!

I myself, am waiting for Joe Biden to provide the student debt jubilee that he promised in his campaign. I'd like to see it all forgiven but he did promise to forgive at least $10,000 per student. Waiting....

[-] 2 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

Compound interest is, according to Einstein, the most powerful force in the universe. That's because it creates money and concentrates wealth at an exponential rate. Inevitably, debt must grow to the point where it can't be paid. When that ultimate bubble bursts the economy collapses.

[-] 1 points by beautifulworld (23476) 1 month ago

Exactly, and in America, astronomical interest rates are legal!

This is because we live in a society that is rigged for the rich and corporations. As you say, the debt grows so huge that it can't be paid!

The actual definition of usury is when interest rates charged are illegally high but I think 25% compounded interest on credit cards is immorally high. I also think that morals should be above the law and all law should be moral! But not in America!

https://www.investopedia.com/terms/u/usury.asp

[-] 2 points by agkaiser (2514) from Fredericksburg, TX 4 weeks ago

You've got it right. Write On! Usury, when the concept was dealt with in the time of Moses, was any interest or rents. Only in the past few hundred years has it been redefined as first exorbitant and then illegal rates.

Before Nixon liberated the financial class of parasites, 10% interest was often illegal. (in Ohio, where I grew up.)

"As late as the end of the 1970s, 8 to 10 percent usury ceilings were common. Since that time, however, lenders have been successful in getting the ceilings lifted much higher or eliminated altogether in a number of states." -

https://www.washingtonpost.com/archive/business/1980/05/11/usury-isnt-what-it-used-to-be/378a2c48-5d20-469f-aa84-b5aa67ffcafb/

[-] 1 points by beautifulworld (23476) 4 weeks ago

U.S. has 2nd highest household debt in the world. Yes, to all you say. See:

https://www.statista.com/statistics/738695/household-debt-gdp-globally-by-country/

Americans are drowning in their debt and the "usury" interest rates put upon them.

They need debt to go to school, to get healthcare, to pay for their homes, their cars, just about everything.

An indebted and strangled society is an unhappy society. Americans are all walking around with the albatross of debt on their backs. Sad.

High time Biden at least does something about Student Debt which he promised to do in his campaign.

"Student Loan Debt: 2021 Statistics and Outlook. The numbers are staggering—and still on the rise"

https://www.investopedia.com/student-loan-debt-2019-statistics-and-outlook-4772007

[-] 0 points by grapes (5232) 4 weeks ago

Long-term real productivity growth rate is about 1% a year so the long-term interest-rate cap should have its mean set at 1% above the inflation rate. Our persistently low interest rate environment set by the Jews-dominated monetary authorities effectively steals the life savings of our elderly folks to bail out the financial greedy scumbags of Wall Street who work 70+ hours in a week in order to create the next widespread U.S. and thus global financial catastrophe. I generally respect capital but it mustn't become a toxic algal bloom. "Economy" and "ecology" seem more intricately tied than just "eco" derived from Greek "oikos" meaning "house" so we need house rangers who are always in our house watching out for and killing any poachers.

If the usury interest rate cap isn't enforced, we'll build up long-term pressure to precipitate a financial breakdown to unwind the [artificial] excesses in the economy. Financial panics, breakdowns, inefficiencies, recessions, depressions, mass unemployment, murders, rapes, domestic violence, prostitution, larcenies, cheatings, bankruptcies, mayhems, burglaries, riots, regime changes, revolutions, etc. all grow from this scheme of getting something for nothing and selling fish eyeballs as real pearls ( which are being crushed to make politicized chalk dust to demonstrate the power of Mewtwo: it's great for multinational corporate collaboration to help Red China carry out the brilliant, glorious, and revolutionary contribution of Kim Il-sung to World Thought, 주체, in order to achieve true Socialism, as "Red China [and more] is for the [Red] Chinese" ). Historically to these were attached Jewish faces because Jews had been a discriminated minority ethnicity for a very long time due to their smug attitudes ( being the Chosen People ) so doing these tasks became their necessity for livelihood.

For greater happiness of our U.S. populace, we should gradually move towards a 5-hour work day within 25 years with the same [inflation-adjusted] real worker pays { it's best to rig into our system a built-in mechanism for worker revolution }. The Germans have hard-set limit on work day's ending so workers who so desire can hold more than one job ( { thereby diversifying their source of livelihood; employers often don't care about hiring and firing because they have multiple employees to pitch in; in order to even the field, workers having multiple jobs should be put into the position 《with social welfare for retraining and career transitioning as needed, as is practiced in the Nordic "socialist"/happiest countries 》that they can fire their employers without concern about their livelihoods because they have multiple jobs to pitch in } or have that time off as leisure to pursue whatever passion they may have ( sitting in a long traffic jam on a scenic route was cited as a weekend [High] German passion by the teacher of my German language class ). The German model is far superior to the Japanese model in which the workers die of exhaustion on the job and Japanese productivity eventually stalled. Pre-WWII, a number of American chemists went to work for and with German university researchers so apprentice-type shoulder-to-shoulder was great for teaching craftsmanship of which China at the time of my paternal Grandpa also availed of in having the Germans implement intricate Chinese window designs { this might have been a connection to my Dad's becoming an apprentice at a fairly young age in a glass factory }.

The U.S. workers are often over-educated for the jobs they perform because the U.S. educational establishment's solution to social problems was to "send everyone to college." Not everyone is cut out for college, though, especially if they've come from a less-advantaged educational and social background. However, intense coaching may very well help for some heading towards college education and joining the working world with a marketable skill for the others. Here's where my Dad touted "apprenticeship" and the German model for transitioning youngsters to the working world which he had gone through in his prominent family's attempt to get him back on life's track after they had eaten the fat chickens he fed with the frogs and toads he had caught during the school days from the rice paddies. I asked my Dad specifically what he did with his time after he had escaped from schooling [with its scary bodily punishment]. He said [with beaming satisfaction], "Fat and tasty chickens at Chinese New Year time." He said that at my speed of eating a meal, I would starve in an apprenticeship in which all the apprentices in his glass factory ate together sharing the common never-sufficient-for-everyone food. "Devil takes the hindmost."

The slow-eating ones starve { but the ruminating slow-eating Seventh-Day-Adventist "cows" who chew 28 times before swallowing any mouthful of food stay healthy due to the high efficiency of their digestive and nutrient-absorbing process; chewing profusely increases the surface area of the chewed food to allow digestive juices adequate passages to dissociate nutrients from the food; this is a great health-enhancing measure almost everyone with good teeth can adopt easily and attain good health; the Hindus did get their worship of holy cows right in a certain sense although I wouldn't use their urine mixed with milk to cure or ward off CoViD-19 as there doesn't seem to be any proven physical linkage; always remember that the "purpose of life" is to produce great quantity of good-quality poop according to the Bristol scale; we, of course, aren't really aiming at shit but great health instead so poop and urine being readily observables can greatly help our quest for superb health if we get over our childhood-ingrained revulsion for them with our great interest in them; quantum physics says that everything is all about "the observables" so yeah, I practice quantum [high] physics when I stare at my poop and urine in my "people's temple" for health signs, much better than me getting needle-jabbed to draw out daily blood samples; I do often manage to beat the Muslims' five times a day to worship in my own temple.}

Of course, I had never really "starved" although things got lean at times in college during my late-night studying ( I held a job after my last afternoon college classes so late-night studying was my norm ) during which most food sources had been shut down.

I felt that my college education wasn't as enjoyable as what I had envisaged when I was cutting through on balmy days the college crowd ( the walruses, the seals and pups, the terns, the seagulls, the crows, the penguins, the manta ray, the blimp, the large fishes and small fries, the crabs, the shrimp, all lounging and sunning themselves on the rocky outcropping of the "beach"; in all of my college years, I'd never even spent a single afternoon doing that collegiate serotonin-releasing pasttime in the sun; how a place feels depends greatly on one's state of mind as I'd visited my college campus multiple times in different mental states: as a future student longing for becoming a member of the academic mecca and sunning on the "beach"-side resort, as a crunch-time late-night Twinkies(R)-chowing White Rabbit scurrying down the rabbit hole of motivational meltdown, as an alumnus with family members taking photographs as tourists and bumping into my old professor by chance, and escorting as a member of Squadron 62; it was the same old campus but it'd never felt the same due to my different inner mental states ). Money makes a difference in educational quality ( I had only gone to one or two { actually four but very few, for sure } study-group sessions in my entire college education because I had no time for them due to my multiple jobs ). Here's why I think that parents' contributions can help with "the gift of do-as-one-wishes leisure," which is ultimately what most people mean by freedom. My parents' improving incomes made my college education much tougher because I had to work far more in order to make up for their slated-for parental contributions as college financial aid was being withdrawn.

I experienced the private/public school educational difference myself firsthand because my school friend and academic nemesis had come from a private school so I "fell behind" him in sheer reading and comprehension speed, despite my certainly belonging to the academic élite.

Resources definitely help in some areas ( but there are dependencies to observe, such as a low blood sugar level reduces a genius to a ravenous "monster" so abundant corn/maize production in the U.S. helps with the docility of our people and advancement of much else; drinking contaminated water without a sanitary procedure such as my Mom's boiling a kettle of water every morning to make our drinking water will stick one to the chamber pot; without nighttime lighting, forget about studying at night, etc. ): many private schools give their students much heavy-duty assigned reading on a student-professional level of intensity but I as a public school student did more extracurricular reading than just the school assignments on an as-interested amateur level.

U.S. Math Olympiad training secret is: "Instead of sending six people to the IMO, we bring the IMO to 60 people." ( In the Cold War years around Deténte, the U.S.S.R. dominated with "Russian Math" but the U.S. knew how to "import" that and eventually did one better. Without the partly [rather ¡heavy!] stainless steel Mig-25, there might have never been the titanium SR-71 Blackbird.)

[-] 0 points by grapes (5232) 1 month ago

I agree with "all law should be moral" but "moral" according to whom? My Mom certainly considered spanking my Big Brother for his school grade altering shenanigan "moral" but it's considered as "criminal" here in the U.S.

Exceptionally high interest rates are "moral" in the U.S. according to the "Establushment." I recalled that I was wondering decades ago why Chase Manhattan Bank had put their credit card payment center in North Dakota. It's likely due to North Dakota's not having any state law restricting the highest interest rates which credit card companies could charge customers. Other states have usury laws so they don't get the business of Chase Manhattan. North Dakota probably didn't care much about regulating private banks because it is unique in the U.S. for having a state bank.

My Mom would have been held up in Bible-believing areas as a paragon of motherly moral rectitude. Spanking worked on my Big Brother -- there wasn't any more school grade enhancement via grade report alterations. Yes, indeed, spanking was written in the Holy Bible ( in the Old Testament. ) The U.S. doesn't follow the Bible, despite its well proclaimed [by Conservatives] "moral" roots in Christianity. There was no "spanking" of the Wall Street fraudsters who had created the 2007-2013 Great Trust Recession.

I think the key idea which we all need to understand, observe, and take to heart is the idea of jurisdiction. My Mom didn't commit a crime in the U.S. because she wasn't in the U.S. at the time. The confusion of jurisdiction and/or boundaries is the source of most of the conflicts in this world. For example, "Thou shalt not covet" is a commandment still to be learnt by the orthodox "Christians" coveting neighboring Ukraine.

As a U.S. citizen, I adhere to observing and practicing the U.S. Constitution and all laws derived from it. I, for example, wouldn't go into a McDonald's and murder people there for eating beef because my culture didn't eat much beef so it did have a strange taste to me as a child ( well, in the U.S. schools, I wolved down beef stronganoff alright { to "cure" a toothache before a grueling final examination, yeah ! it worked far better than two weeks of yogurt diet; I had never eaten yogurt before then but it hurt my aching tooth much less than other foods; by taking care of oral health assiduously, I've since overcome my childhood tooth problem -- goodies from my Big Brother such as ice-cream cones, chewing gums, strawberry ice-cream set atop Schweppes(R) cream soda, etc. weren't good for tooth health; I don't believe in tooth fairies but I believe in carbohydrates, bacteria, organic acids, fluoride toothpastes, toothbrushes, hydrogen peroxide, and holy, holy, holy, life-sustaining dihydrogen monoxide; one can maintain or improve one's health far better than the non-automobile human bodyshops because of the 24/7 surveillance and interventions possible guided by one's own feelings } so there was only a little bit of residual childhood resistance which vaporized quickly ).

I found that by and large, most U.S. people are tolerant of cultural differences. That's the fundamental reason why the U.S. overall "worked" pretty well, despite pockets of war zones here and there ( the U.S. mainland is continental-scale in size so a mass shooting a thousand miles away usually affects me little { the targeted assaults on Asian ethnicity are more concerning to me so I do want to know and become more circumspect as I had been attacked before in the U.S. hinterland -- as a consequence of that, I became bi-coastal, skipping over "the flyover country" spoken of by Hillary Clinton } ). Be aware of this fact of the U.S. being humongous and sparsely populated when evaluating or traveling in the U.S. You may not even have mobile phone service coverage in some areas or there could be dozens of people shot, injured, and/or killed in a city over a rambunctious night. We still have the "Wild, Wild West" in some places ( it's important to know what these places are.)

One can contribute to peace and stability by avoiding setting foot in these places unless absolutely necessary. Voluntary apartheid is what my Mom would be very proud of me practicing. She used to say in essence, "One cymbal doesn't clang: it takes two." (Cymbals weren't her favorite musical instrument.) (She referred to my Big Brother figuratively being one cymbal, fighting with me being the other cymbal, but our fighting was extremely rare, due to our huge age and strength difference. I learnt the Art of Silence early on as words had power, even the unspoken ones.)

Note that the "Wild, Wild West" wasn't always in the U.S. West or Midwest. During my driving in an eastern state, I experienced a pipe bomb detonating under an expressway overpass near its border with a Red state from which the bomber's vehicle had come. Sometimes, there are spillovers because the U.S. states have largely open borders to the other U.S. states. Distance and physical barriers matter but they aren't impermeable ( in the way that the Sep-11-2001 attacks having been planned from Germany and CoViD-19 being spread by the mass repatriation of tens of thousands of U.S. expats from Europe without quarantine proved that the Atlantic Ocean's 3000 miles girth was inadequate to halt rogue invasions from the Old World, primarily from Europe due to the many U.S. socioeconomic and cultural ties with Europe -- the lack of early CoViD-19 testing and contact tracing and the Trumpery for-Euro-bias did New York in. Taiwan only had 12 deaths in the first year of CoViD-19 despite its proximity to Red China and its many ties. )

It does help to know of the physical barriers, both space, time, and procedural. U.S. states can have disparate laws just across a state border. It's similar to how North Dakota having its own state bank could allow the National Association (N.A.) bank ( i.e. licensed to create money out of thin air and steal purchasing power from any and all U.S. dollar holders and forgive the debtors { the biggest of all was the U.S. Federal Goverment } by their paying back debts with the cheapened U.S. currency; with the systemic incentive favoring the people contracting debts, eventually debts spiral "out of control" from compound interest rates exceeding productivity gains if the debtors don't have access to "funny money" -- hence it's been de facto "funny money" quantitative easing of the constipation of accrued debts ever since 2008 via near-zero and real negative interest rates, especially important because they have funded the extraction of fracked carbonaceous fuels the lack of which has begun to hit Europe in force and North America soon as cold weather arrives which will be much worse for northern Europe should the Gulf Stream stop due to Anthropogenic Climate Chaos melting Greenland's ice cap reducing Gibbs' Free Energy to drive the Gulf Stream to reach northern Europe; Germany can't be self-sufficient with renewable energy and it can't even frack so it must become a Russian colony again or a French one should Germany choose nuclear fission generated electricity from France, Sweden, or Finland instead ) such as JP Morgan Chase to charge interest rates deemed usurious and illicit by other states.

Red China : CoViD-19 = North Dakota : JP Morgan Chase N.A.'s usury's bleedover.

Red China in recent years caught on to the money-printing out-of-thin-air ( i.e. credit creation ) trick and sought to displace the U.S. reserve currency status ( in order to gain the most power to steal as needed -- 2008 Great Recession started Red China on a binge of credit creation so yeah, "the chickens are coming home to roost," now powered by its own idiotic CoViD-19 international flight dispersal of disease policy cratering the world economy. Buddy, here's a hint: it takes far more than just huffing and puffing to lead in semiconductor and vaccine technology. There's a breadth/depth of many industries needed for leadership. In principle, any country could have made extraordinary semiconductors and vaccines but in reality few did, why ? Where was the venture capital spent on developing coronavirus vaccines for SARS-CoV, MERS, etc. in Red China, Iran, or DPRK ? Oh, yeah... the venture capital was spent upon developing nuclear weapons and missiles to deliver them from afar ! I guess "nuking" CoViD-19 in these countries' populations might just work as well as an excellent vaccine might, for halting CoViD-19 spread in these countries. )

Decades ago, my Big Brother ( and me being in tow as usual, my being his "license to roam" ) talked with a young man who had just served his country on the frontline on the Taiwan Strait. He said that the bombardment during his military service there was fierce. My Big Brother then asked him why we hadn't heard of any casualties coming from the decades of bombardment to "liberate Taiwan, counterattack the mainland" ( 解放台湾, 反攻大陸 ). He replied, "We followed a schedule of sheltering ourselves in bomb shelters and the enemies did the same." There was a really fierce hot war going on there for decades already but no one was hurt once the mutual bombardment had settled into a schedule observed by both sides to achieve maintaining the status quo ( 维持现状, 維持現狀 ). Girls, that's "the boys' racket" protecting you from those enemies.

The really fierce hot war with Chinese characteristics of no casualties and no spillover ( we lived in nearby Hong Kong, Euro-part of "two shores, three lands" ( 两岸三地, 兩岸三地 ) so my Big Brother was surprised to learn of the fierce bombardment; it's probably much like my shantytown poor boy's noonday boom which reminded me to come home for lunch from my garbage dump anthropological pursuits -- reliably punctual on schedule ) is far more preferable than what's starting to happen in Afghanistan.

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

"This is a very important article. It is so easy to become dispirited and confused by what is happening in the world. I now have a much clearer Historical Perspective of where we are and why. It will take a lot of re-reading to fully grasp it all, but I would like to thank Dr. Michael Hudson for expressing complex ideas so clearly, and for creating a bit of hope." (Moelwyn Thomas - from comment thread below article via the link below)

This^ article is fundamental to much of what we discuss here & I'm posting it for #S17/10 years of OWS. Fifty years of "Trickle Down" - has turned mere millionaires into Multi-Billionaires and the Working Class are now the "Working Poor" while the "Middle Class" try to pretend that they're somehow NOT Workers! This shit can't go on and "it won't end well", that's for sure!

respice; adspice; prospice et spero meliora ...

[-] 1 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

Thanks. Michael Hudson is ever inspiring. He doesn't just point out the dangerous self destruction; he offers alternatives.

"It does not have to be this way, of course. China is defending itself not only by the productive industrial and agricultural economy its socialist government has sponsored, but by a guiding concept of how economies work. China’s economic managers have the classical concepts of value, price and economic rent, that distinguish earned from unearned income, and productive labor and wealth from unproductive and predatory financial and rentier fortunes."

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

"Understanding the Basics of 21st-Century Democracy, Autocracy, and Capitalism." - by Prof. Richard D. Wolff:

Which ends with ... "If we define capitalism in terms of the employer-employee internal structure of its enterprises - what Marx termed their “social relations of production”, most socialisms to date have not yet accomplished transitions beyond capitalism. To do that .. they would have to change the prevalent internal organization of their enterprises to democratic worker cooperatives.Indeed that's now become the task for 21st-century socialism."

per aspera ad astra ...

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

"America's Fate: Oligarchy or Autocracy?, Prof.R.D.Wolff with Chris Hedges"

Also please note . . . "Global Financial Empire 1" by Professor Michael Hudson:

fiat lux ...

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

"How Did Private Property Start?" by Matt Bruening:

Note: "Libertarians tend to get flummoxed when confronted with this simple question"!

respice; adspice; prospice ...

[-] 3 points by agkaiser (2514) from Fredericksburg, TX 1 week ago

Differentiate between property I live and work on and absentee landlords' or corporations' property. The former is fundamental and natural "territorial imperative." The latter is the violation of the liberty of all to satisfy the greed and tyranny by and for the few ... It is tantamount to the "freedom to enslave:" an oxymoron.

[-] 0 points by grapes (5232) 1 week ago

Knowing how widespread "tragedy of the commons" is, I hold that private property has been a reasonably good way to avoid the environmental degradation of the public domain. There are limits to private property rights for sure, in order to serve the common good.

It takes some historical experience for a people to know when to give up some private property rights for the likes of sewerage easement or pedestrian footpath crossing on private property. Communism fails right from its first principle of abolishing private property. All of the self-styled so-called Communists hoarded their private properties. All attempts to realize Communism have already failed in the Dismal Swamp of Socialism with Fascist characteristics. Of course, in Mao's twisted mind, "Socialism with Fascist characteristics" wasn't the "Revisionism" of Khrushchev much despised by Mao himself.

People generally have better impression of owners-occupied properties than absentee owners'. Many corporations have absentee owners of their properties. The boards of directors were often very incestuous in their financial dealings because the members were often personal friends of the CEOs and they set the compensation packages for the executives. It's no wonder that corporate executive compensations have gone up so quickly. Friends in the boards' compensation committees voted to pay corporate executive friends well who pay them well from the corporations by originally putting them on the election slates for the boards of directors -- I call that "incestuous behavior" of cronyism.

[-] 1 points by beautifulworld (23476) 1 week ago

In the same way that "libertarians" should never hold political office (they hate government, right?), it is the same thing that libertarians should never hold private property (though they love private property.) This is because private property basically violates the liberties of others.

"...the basic issue that property acquisition violates the liberty of others."

As soon as you declare (so when the first person owning a piece of property declares it as his/hers) a piece of property as owned by you, you have removed the rights of others. This is really very anti-libertarian.

Just goes to show you how screwed up libertarian thought really is.

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

Consider that "property acquisition violates the liberty of others" especially when that "property", IS "others" - and then please take your time in digesting this particularly relevant "Long Read" link below ...

Note: "The creation of the modern, interconnected world is generally credited to European pioneers. But Africa was the wellspring for almost everything they achieved ... and African lives were the terrible cost"!

Btw, what's the RW Libertarian take on Property Rights & Slavery? Or "Wage Slavery" / Chattel Labour? Further note that the very word "Libertarian" - was a European LW Anarchist term .. that was specifically selected & hijacked by Murray Rothbard to appeal to The US 99% & con/co-opt them for the Ruling 1%!

respice; adspice; prospice ...

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

"The Wealthiest 1% of Americans . . . dodge $163 billion in taxes every year - Treasury says"!

radix omnium malorum ... est cupiditas!

[-] 1 points by beautifulworld (23476) 1 month ago

Occupy made $ and class consciousness a thing in America again.

"How Occupy Wall Street spawned a decade of protest, politics, and social media. Though brief and messy, the Occupy movement of 2011 helped recast the political story in the U.S. and fostered more-enduring movements to come."

https://www.fastcompany.com/90675586/occupy-wall-street-tenth-anniversary

"Occupy introduced a different kind of protest to the U.S., by creating space and time for anyone who wanted to discuss a plethora of grievances—most of them about money. While covering the movement, I heard talk about campaign finance, banking regulations, tax policy, student loan debt, bank bailouts, and the federal budget. The overriding theme: Regular people were getting screwed while an elite group—roughly the richest 1%—was making a killing.

This created a new political vocabulary by establishing “one percent” as a universal moniker for an elite class that runs the game. And it created a sense of common cause among the 99% who felt left behind. “Occupy [put] inequality in class back in the discussion,” says Doug Singsen, an art history professor and union activist who was on Occupy’s labor outreach committee in New York City. “There had been virtually no discussion of class in mainstream U.S. politics for, really, decades, which was also a time of rapidly increasing inequality.”

And, let's face it, 10 years is nothing in historical perspective. Occupy did quite a lot in this short span of a decade if you are willing to think long term. Patience is a virtue.

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

"More Than Half of US’s 100 Richest People Dodge Estate Taxes Via Special Trusts"! . . . by Jeff Ernsthausen, James Bandler, Justin Elliott and Patricia Callahan:

"Secret IRS records show billionaires use trusts that let them pass fortunes to their heirs without paying estate tax. Will Congress end a tax shelter that has cost the Treasury untold billions?"

And re. your "And, let's face it, 10 years is nothing in historical perspective. Occupy did quite a lot in this short span of a decade if you are willing to think long term. Patience is a virtue." Mfatik Ditto & solidarity!

tempus fugit ergo fiat justitia ...

[-] 1 points by beautifulworld (23476) 1 week ago

Meanwhile, people need to earn $33/hour to pay a market rent in the state of Massachusetts! With minimum wage at $13.50/hour! People are really suffering across this country with housing costs way out of line with wages.

All while these rich creeps avoid taxes. Really infuriating.

https://www.masslive.com/boston/2019/06/on-average-massachusetts-residents-need-to-make-3381-an-hour-to-afford-fair-market-rent-report-says.html

[-] 1 points by agkaiser (2514) from Fredericksburg, TX 2 weeks ago

The only debt the gov must pay is to the Social Security Trust Fund. The interest and principal owed to banks and billionaires should have been taken in taxation in the first place.

[-] 1 points by grapes (5232) 1 month ago

The future is but the past in its shadow ( 未來不過是陰影中的過去 ). All physical laws are time invariant. Information is conserved.

Oligarchs and politicians wanted "hit-the-ground-running" (i.e. making maximal profit by MBA-saving the cost of providing a parachute on a skydiving mission { Warren Buffet's Fruit of the Boom MBAs shaved off a flap of fabric on an underwear to save costs so Boom, my "eggplant" kept on popping out to the delight of the lecherous ones with wandering eyes } ) solutions to major problems such as carbon dioxide emission so we all got "hit-the-ground-dying" environment now and in the foreseeable "Beijing" "future." We'll then adopt Mao's post-"eggplant" fig-leaf solution to his errant and deadliest policy of collectivization in all human history by calling it 三年"自然"灾害 ( the three years of "NATURAL" disaster ). Mao greatly outdid Stalin in mass murders and yet Mao's portrait is still on the Renminbi currency. I wonder whether West Germany, in order to behave sickly, should have printed the phrase "Arbeit Macht Frei" upon every deutsche Mark.

Germany couldn't solve its carbon emission problem so nobody can ( German efficiency is to import French nuclear electricity and Russian natural gas {Nordstream 2}; before this, it was buying carbon emission offset credits from less developed countries; "See those trees; we saved the Earth because we had paid those poor peasants not to cut them down for firewood.") Red China was the smartest to go whole hog to coal and prosper meanwhile -- let the Earthlings be damned. Yeah, it was exactly the same breakthrough attitude that had unleashed COVID-19 and proliferated it onto the entire world. Let the international flights go ahead while banning all domestic flights during the greatest annual human migration for celebrating Chinese New Year. World Bang Development ! What colors are your retirement funds ? Due to my insufficient drinking of holy water, I sat upon my White porcelain throne and exploded my atheistic hemorrhoids but that did pay off -- I got five yellow nuts ( the first one is expectedly much bigger and drier than the other four due to the water-absorbing passage in the colon and rectum ) to decorate the splash of blood. I'm not quite up to the urgent task of slipping out Black Pebbles yet so don't tell, don't ask...

Even the Imperial Japanese Army occupying China had the sense not to scale up and deploy on the whole of China its bioweapons developed by its Unit 731 after experimenting upon the Chinese in Zhejiang province ( as many Japanese and their allied { primarily Korean as Korea was a Japanese colony for 50 years; in fact, many ethnically modern Chinese have some Korean-ancestry genes from the rampant occupying army rapes } soldiers fell ill from their [own] bioweapons.) Bioweapons weren't easily controlled ( with the possible exception of anthrax.) Of course, Red China also sourced fentanyl for profits. It powered the opiod epidemic in the U.S.

The U.S. is in the midst of a severe COVID-19 denier human cleansing. Our COVID-19 number will inexorably exceed the death count of the 1918-1919 influenza pandemic set a century ago, despite having the "Biden-Harris breakthrough vaccine." What a world we live in, with Red China jet-delivered and Indian religious zeal amplifying and mutating the virus en masse ! ( No. 1 and No. 2 most populous countries combined "efforts" to defeat No. 3 most populous country in this COVID-19 insurgency; they will certainly "win" again in the climate chaos arena, effectively rendering the U.S. and every other country as being irrelevant. )

[-] 1 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

I think the CA recall vote map juxtaposed with the current CA Covid infection map tells the whole story of self destructive stupidity that threatens the survival of the human race in the 2020s.

[-] 0 points by grapes (5232) 1 month ago

I was also a bit surprised that suddenly the U.S. map of COVID deaths by states changed colors. Then I discovered that the map had switched to tracking U.S. vaccination rates.

It didn't matter much what "spin" could accomplish on the map. The same boundaries remained. It seems to be truly a test of [political] Faith ! It's sad... ( Following to high grounds the village "fool" who went every morning to check whether our ancestral stone lion had bled blood during the night saved the believers from a devastating foretold-in-a-dream flood; a stone lion could bleed out of its eyes and see red ! For me being a descendant of the remnant, it's actually a matter of the survival of the luckiest ["fools"].)

I was certainly dejected when my Big Brother refused to continue his "never-ending" made-up-fresh epic every evening when we laid to rest to sleep upon the wooden board supported by two yokes set atop sturdy wooden chairs. "Never-ending" tale ended. He also got tired of reading to me a children's magazine later on in our new home. After some first grade's education, I learnt to read the magazine all by myself without his assistance ( it's best to gain the ability to do whatever one wants and just do it to one's heart's content, not at all, or any happy median; when I started having the vision problem of myopia, Mom tried to scare me out of "excessive" reading with the old moms' tale of "monsters" wearing fogged-up eyeglasses entering from a cold outside environment but wearing spectacles was actually a small sacrifice for knowledge; it's really no worse than observing the Jewish custom of requiring their children to read of two books every day -- it's no wonder that Jews as a group have higher IQ than the U.S. average and are amongst/usually the wealthiest/highest-income ethnicities/ethnicity in the U.S.) I also went on to a lot of other reading materials after he'd helped me get my own library card. Enroute to the huge library and on school days to my school, I crossed the largely exclusive White neighborhood. A White boy slapped me on my cheek on the third ( when library reopened; things happened on the third because the first two days of the Chinese New Year were holidays: we also moved into our new home at the former British military fuel and munitions depot on the third day of the Chinese New Year when home-movers returned to work to move us ) day of the 1968 Chinese New Year around the backdrop of the 1967-1968 riots. The White boy, ( likely a pupil attending the King George V school because all of the attackers had come out of the direction of that school, ) ran up to assault me at the traffic circle on Dunbar Road from behind and yelled 恭喜發財 { wishing me to gain wealth by first getting a reddish bag of prosperity "money" stamped onto my cheek }, a traditional Chinese happy new year greeting, as he slapped me on my cheek. I also got pebbles thrown at me while going to Queen Elisabeth School in the early 1970s but I was never hit as those White boys weren't reacting fast enough ( as I walked fast on the straight portion of the road { but not the curved traffic circle with uneven terrain, the walkdown steps from the hill called 鬼仔山, and parked cars so I was caught offguard by that White boy's ambush from behind } orthogonal to their pebbles' trajectories; the 細蚊仔(saimānjáí) { a 白鬼仔(White child or "white 白 ghost 鬼 diminutive 仔" literally, per character); Cantonese [in Hong Kong] Chinese call foreigners 番鬼佬 "ghost 鬼", probably because [only my guess] in traditional Chinese legends, ghosts often had reddish eyes and green hair so some foreigners having red hair and greenish eyes also made the grade of being "ghost 鬼" as in 《伊麗莎白中學有個鬼佬校長。佢嘅仔係個學生喺嗰度讀書。 》} had probably spotted me walking down the long flight of steps down 鬼仔山 hill so that he had enough early warning to catch up with me near where the traffic circle linked to the straight portion of Dunbar Road ). My Big Brother said that he had been the target there before so it was why he could warn me to be wary of all of those little White boys (白鬼仔) in that neighborhood.

The U.S. had a good reason to push for ending European Colonialism, which had culminated in the Great War, to substitute its global commerce postwar order underpinned by having the U.S. Navy fighting piracy worldwide. Both Japan and Germany grew very prosperous and calmed down their ferocious natures quite a bit ( or maybe even a bit too much because both still have powerful traditionally grudge-holding neighbors ) -- and now Mewtwo wants to become Meowone by tearing the postwar prosperity worldwide order apart without substituting a viable better world order. We'll see what happens when trans-Pacific trade grinds to a halt. Red China grew rich on that and is trying to build Mewtwo's techno-city-hub close to Beijing to assert economic independence from the U.S. so we'll all see.

[-] 1 points by agkaiser (2514) from Fredericksburg, TX 1 month ago

The Chinese will still have the factories and infrastructure, "when trans-Pacific trade grinds to a halt." The real failure will occur when Wall St crashes again ... maybe for the last time. Of course capitalist morons will never figure out that money is not wealth!

[-] 0 points by grapes (5232) 1 week ago

In Detroit, the U.S. said of the same thing: the Americans will still have the factories and infrastructure, "when customers don't buy Detroit-made American cars." Where did Detroit end up going ?

It's not just the capitalist morons who haven't figured out that currency isn't wealth, neither is being rich the same as being wealthy. There are still many who cast an envious eye upon the inequality of the riches of the flamboyant rich folk subpoenaed to testify under oath before U.S. Congress or a court of justice.

The U.S. suffers from an overabundance of overly well-paid specialists and the so-called experts who prescribed "take two aspirins and visit me two months later [if I haven't retired to the Cayman Islands' tax haven yet]." By and large, more and more regulations are churned out by these so-called experts. Of course, they know the arcane regulations best. Do you still recall "don't wear masks to prevent getting COVID because it spreads through surface contact, not through airborne droplets" ? I still have a whole gallon of unused bleach left over to disinfect surfaces ! It's more efficacious to be a "Rode Scholar" and neither inhale weed in England nor have sex with that woman of the X-U State In America - Jew Jerk Group ( it IS higher quantum physics to ponder and caress the smooth sensuous curvature of that twice differentiable, continuous, and contiuous-first-derivative, wavefunction which is still virginal and hasn't experienced the collapse of the Carlsberg-beer-induced Copenhagen Interpretation.)

Now we are getting from the experts: if you don't wear masks, you can't come in; if you haven't been vaccinated, you can't work ( i.e. you are fired ! ) The problem wasn't the title of "expert." The problem was the title of "expert" being crowned upon someone who could be so very wrong by willingly becoming the complicit Führer bison carrying between its horns Redfuckgina's oozing hemorrhoidal discharge to lead the herd in a stampede off of the buffalo-kill cliff to the ravine below.

There was a saying about the farter in an elevator who loudly swore at the releaser of the extremely stinky fart while staring in turns at each of the unfortunate passengers in the same elevator: "the farter who tried to dispel suspicions the earliest and hardest was the actual farter." Guess who was doing "the political manipulation" about COVID in Q1 2020, stymied investigation for over a year, and retaliated in trade against Australia which was calling for an independent investigation.

As far as backstabbing is concerned, the U.S. has a system in place but with different people in charge at different times, things can indeed change abruptly with a new administration or a new political appointee. Of course, with competition being a permanent fixture of life in Capitalism, backstabbing is often a well-honed skill for nearly all of the survivors. Cooperation as needed again can usually be reestablished by "paying up." Do first to hog the share ownership and pay up later any court awards, if any, to the plaintives. Pay enough ( mighty $, isn't it what Capitalism is all about ? ) to the ones who can legally collect as blessed by the F.B.I. ( which had blessed suspected seedy Russian money going towards Trump Taj Mahal, long before Trump got into politics; the Saudis and Russians helped get Trump start up in his real estate business; it's why Israeli-Arab-Palestinian peace might have got a chance with Jared Kushner and Saudi Arabia's Crown Prince Mohammed bin Salman who has much oil money at his disposal and is "under the gun" to move Saudi Arabia's economy at least partially away from the oil business because oil ISN'T a renewable resource and anthropogenic climate chaos is already manifest, so much of the reserves of oil, gas, and the especially egregious coal must remain underground or it'll be much much hotter on some days; Saudi Arabia may take advantage of the vast desert temperature difference between daytime and nighttime to make water from nearby sea's moisture for the extremely water-efficient agriculture 2.0; groundwater in the desert is unsustainable at the high rate that it's being used in agriculture 1.0's spraying it into the desert air to irrigate crops due to the very high water-evaporation rate in the dry desert air; restricting somewhat the crop irrigation to the periods when relative humidity is high, usually around 4 a.m. UTC daily, can reduce water evaporation; good measurement of how much water the crops need is important, too, before upgrading to customized drip/fertilize irrigation; the very high resource usage efficiency achieved by the technological upgrades put in before the pandemic hit has allowed some businesses to survive the pandemic's severe blows), apologize ( as the Big Enchiladas such as the young turk the-first-rule-is-to-break-all-rules captains of industry e.g. Elon Musk, Mark Zuckerberg, neolibertarian venture capitalists e.g. Peter Thiel, or Israel, the staunchest ally of the U.S. which attacked U.S.S. Liberty to sink it, did ), and new cooperation can start as things rise up from the dead as surely as the Messiah did. Liquor stores and abortion clinics provided essential services in the pandemic, as did the gunshops. The Taliban can learn a thing or two from these regarding the proper societal role of the He-males: shoot guns, drink the holy blood of the One who had risen from the dead, and fuck off: babies away. Terrorists should avoid Texass which has the new anti-abortion law so the Taliban baby initiators' receptacles looking for a quick solution may be sued by Texass citizens in court. I was once asked how big Texass was. The proper answer should have been: a behind humongous enough to cast a Moon-sized shadow over the entire U.S.A. It's the humongous A.S.S. ( amerikanische Staatssicherheit ) pretending to be the sissy baby-loving freedumb-erozone Tex, with not just monkey wrenches but also monkeys to throw them.

Until the newcomers must be stabbed in their backs for one's own competitive advantages, Americans are friendly to them ( who represent new possibilities for gains: market is the number-one item for Capitalism's insatiable expansion needed to assuage the high compound interest rates of real [i.e. inflation-adjusted] capital; most countries owe mountains of debts so rebalancing must eventually come via the massive destruction of debts; Redfuckgina has already shot through the traditional Chinese but-captive-to-the-state-due-to-CAPITAL-FLOW-CONTROL thrift capital accumulated by the parents and grandparents; once Hitler had taken power, Nazi Germany also had quite an economic boom period funded via massive spending and borrowing to rearm itself until the incurred debts needed to be discharged by the most terrible war.)

Don't end up being left behind in the places where the political control has worsened for the U.S. and allies ( such as in the new earthly paradise of Afghanistan.) Taiwanese investors in Red China regretted having invested there. They made renminbi alright but they couldn't get their investment back out due to capital flow control so yeah, just go to live in Red China to enjoy the great renminbi living there. Bernie MadeOff gave his investors great profits on paper and they eventually became just paper profits, non-convertible forever investments.

On February 11th, 2020 since catching some airborne germ on the 8th and having a cough and sore throat on the 10th, I experienced nausea and nearly vomited. I drank the leftover overnight tea ( mildly antiseptic poison due to tannic acid having formed from the oxidation of the tea's tannin ) with orange rind in it to soothe my sore throat and ate an entire orange including rind ( citric acid of the flesh of the orange blocks blood from clotting and might have caused gastric bleeding leading to a near shock but SARS-CoViD-2 wreaks havoc with its blood clotting ability leading to various symptoms ) to relieve my breathing difficulty. Amid the intense abdominal pain, I drank three cups of water to "flush it all out" and lay down to increase my blood pressure so I wouldn't faint. I had to go to discharge the subsequent diarrhea but it worked well -- all sickness symptoms except for the lingering coughs and shortness of breath on exertion disappeared. Months afterwards, even these lingering symptoms were gone.

Nausea is a presenting symptom of SARS-CoV-2 attacking gastrointestinal tract's epithelial tissue. I suspected that I got CoViD-19.

Red China's medical community did alert the U.S. regarding CoViD-19 but its leadership decided to unleash it as a [de facto] bioweapon on the world after having considered Red China's preparedness to deal with it by having near-monopoly hold on PPEs which export was banned, its early lead in testing, and its authoritarian population control ( welding door shut to social-isolate people and using physical force to restrain & move people to test them ) via facial recognition, identity & social credit tracking, AI? emotions-monitoring system already in place ( to precog via deep learning, Xinjiang terrorists.) Chinese New Year holidays dispersed CoViD-19 to the world via non-halted international flights despite halting all domestic flights. Northern Italy got it early from their design-brandname-items-buying Red Chinese [customers] escaping from the impending lockdown of Wuhan because of easy border entry into Italy for Red Chinese [customers]. CoViD-19 Marco Polo.