Forum Post: Neo-Feudalism Cometh
Posted 4 months ago on July 4, 2024, 8:45 a.m. EST by agkaiser
(2552)
from Fredericksburg, TX
This content is user submitted and not an official statement
It's important to distinguish between industrial and financial capitalism. The latter is purely usurious and an economy destroyer for at least 6000 years. See "fictitious capital:" https://en.wikipedia.org/wiki/Fictitious_capital . Usury, making money from money, results in a fatal concentration of wealth. When the banks and the homeowners were bailed out in 2008 and 9, private equity started buying up (and bidding up prices of) housing. Were moving towards neo-feudalism. I'd support anything that taxed the bankers, corporations, hedge funds and billionaires to death. The FIRE sector services must be done of by and for the people on a non profit basis.
The exponentially [at the rate of compound interest] growing personal debt is ultimately self destructive. This has been known for thousands of years. Thus ancient Debt Jubilees. The destruction may be minimized by public operation of the FIRE sector on a non-profit basis. Then regular "clean slate" Jubilees can facilitate our survival.
The idea that control of non productive/non material services like banking and the rest of the FIRE sector can work for we the people when operated for profit by private business interests is ludicrous. Look what's happened in the past 50 years of Neo-Liberalism. As the % of wealth owned and controlled by the 1% has grown, the % wealth available to the rest of us has shrunk. In the end, everything but debt, which is created out of thin air, is zero sum.
Small businesses can't make it these days because regular people have no money to spend at small businesses that have to keep prices high enough to cover their ever skyrocketing costs. People, with their low wages and huge living expenses, themselves, are forced to go to the cheapest place for their goods, places such as Walmart and Amazon that are able to offer the lowest prices because of the volume that they sell.
The joys of going into a local store are slipping away quickly, maybe to never return.
Several businesses have shuttered. Soon, it will be a ghost town for regular people and be servicing only the very rich. No quality of life for working people.
So, couldn't agree with you more. Our economic system is set up to help only the wealthy and corporations.
Absolutely! The concentration of wealth and exponentially [at the rate of compound interest] growing personal debt is ultimately self destructive. This has been know for thousands of years. Thus ancient Debt Jubilees. The destruction may be minimized by public operation of the FIRE sector on a non-profit basis. Then regular "clean slate" Jubilees can facilitate our survival.