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Forum Post: Parasitic Economic Activity

Posted 1 week ago on Sept. 16, 2020, 11:52 a.m. EST by agkaiser (2460) from Fredericksburg, TX
This content is user submitted and not an official statement

Why are some useful and necessary economic activities systemically parasitic and what can be done about them?

Any activity that concentrates wealth is parasitic. If it grows an enterprise exponentially, like a bankers compound interest does, the business is among the most serious and dangerous economic diseases. Finance, Insurance and Real Estate [The FIRE Sector] present the greatest danger to human survival. Lending at interest that compounds when profits grow the lending capital has been known to be an economy killer for at least 4000 years.

Why are these assertions true? If the obvious parasitism continues, the perpetrators must own everything. Look around you. We grow closer to that every day as we have less and the owners consolidate more and more by extraction, merger and acquisition. You don't have to understand the theory, when the evidence of the practice is plain to see.

What is the cure for the economic disease that threatens our existence? Community ownership and operation, on a non profit (cost only) basis of critical services and production will minimize the damage these "necessary evils" do to our society. That is: What we need in common must be done in common on a non profit basis of, by and for the people.

Who are the most offensive parasites? Any who, like the Wall St. Oligarchs, make money from money and directly produce no material product or service. Banking and investment, buying and selling without material value addition, dissipate economic energy the fastest. Whether goods, services or property of any sort are traded, such FIRE Sector activities are dissipative in their conception.

In the future I will discuss other activities that are dissipative due to price manipulation, monopolistic perpetration or other harmful practices, whether legitimate or not.

Video link https://youtu.be/YepiJPkXil0

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5 Comments


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[-] 2 points by agkaiser (2460) from Fredericksburg, TX 1 week ago

What is the cure for the economic disease that threatens our existence? Community ownership and operation, on a non profit (cost only) basis of critical services and production will minimize the damage these "necessary evils" do to our society. That is: What we need in common must be done in common on a non profit basis of, by and for the people.

https://youtu.be/YepiJPkXil0

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

For #S17, after considering ...

"What is the cure for The Economic Disease that threatens our existence? Community Ownership and operation, on a non profit (cost only) basis of critical services and production will minimize the damage these "necessary evils" do to our society. That is - what we need in common must be done in common on a non profit basis of, by and for the people." now consider the Necro-Economics; Turbo-Crapitalist ideology of our times, that so few can name let alone define ... NEOLIBERALISM:

et fiat lux ...

[-] 1 points by agkaiser (2460) from Fredericksburg, TX 4 days ago

The call for an alternative has not been heeded ... yet. Monbiot wrote the article in 2016. The greatest harm produced by neoliberalism is the financialization of the economy, resulting in rent seeking concentration of wealth rather than production and distribution of real goods and material services. I'll keep hammering on the thick skulls of the true believers that docilely support their own destruction through ignorance and inaction. Sadly, I don't know that anything more substantial than words can be thrown into the struggle at this time.

[-] 1 points by elf3 (4187) 3 days ago

Democrats are focused on showing the poor how things will be good for them - they have failed not only to convince the middle class but to implement those things which will strengthen our middle class. Democrats continue to allow our system to rail the working middle class. The middle class needs relief. How can they trust Democrats in this regard? How is it good for them to have their wages stripped and to have to pay in more and more in local taxes, when they are barely keeping up; when wages have failed to keep up with inflation for twenty years or longer; when their jobs are no longer stable? I hear lots of promises to the poor. When the middle class hears those promises what they KNOW is that means they will have to pay more. Unless Democrats can figure out a way to get Wall Street to pay their fair share or to pay their workers a fair share and to generate more jobs, then I think maybe the middle class is correct to be leery of Democratic leadership, for their own personal wellbeing. What are Democrats doing to stop offshoring? What are Democrats doing to create more jobs? Why aren't Democrats protecting private unions and advocating for more unions and more worker protections? Where have they been while Trump's labor department had their way with the working class during this pandemic? Busy figuring out how to take more money away from the already stripped down working class and give it to the poor. Is this right? Until they make something anything happen in this regard their promises to the poor are hollow. Without a strong working class, there is no funding. The working class is being used and abused and taken advantage of. They are being asked to sacrifice their own well being without first having self care or security for themselves and their families. It's wrong. It's wrong and so they will look for relief (and false hope) in Trump.

Democrats and Republicans are working together to abuse the middle class coffers in order to help themselves in the name of the poor. All subsidies go back to corporations and rich landlords. Those subsidies come from a middle class which is being taken advantage of.

And I come back to move to Amend. Occupy Wallstreet. Wall Street is not the key to jobs. Downsizing Wall Street so others can have a fair playing field and self reliance is. We need the opposite of Wallstreet. We need things to get smaller and more local. We need to break down corporations like Amazon and WalMart which holds a monopoly on our economy and end the trading system which allows hedge funds and derivatives trading to flourish. We need a complete system overhaul.

Don't get me wrong I want safety nets and to have plenty of aid to help the poor. But the failure to focus on the working middle class - is CAUSING more poverty, not less, and ultimately there will be even less available to aid that growing poverty. It's disaster. Trump is a disaster in this regard as well - all he did was grow the corporate swamp. But Democrats in office really didn't bother to stop all that. I think in fact they liked it. Sanders was a threat to the swamp - so we have Biden.

Where are the good jobs (not some BS Gig shit) ? Where is the union advocacy?

Democrats in fact fueled division in this nation as much as Trump. Instead of pulling our party back together to focus on rebuilding our middle class they ran around telling them to give and give often - in fact telling them they don't deserve the things they worked for. It's fairly incredible that this entire time they failed to point out that those who need to give more are the GREED MONGERS on Wall Street. That in fact the middle class are working harder than ever for less than at any other time in history - that their productivity and labor has made Wall Street and investors richer than at any other time in history. They could have pulled us together and fought back. Instead they fought the hard working people of this economy and told them they don't count, that they need to continue to sacrifice more and more to the Wall Street volcano as if that helps the poor somehow. And they told anyone who felt the injustice of this system that now they must obviously be racist to boot. If Trump wins Democrats lost this election. Trump didn't win it. If you take off the top 5 percent - no we on the whole as a nation and people are not all privileged - we are barely hanging on. More than 50 percent of us make less than $30,000 per year.

Do I despise Trump - yes. Do I trust Democrats - no. What have they done for the working class? What will they do for the working class? How do they exactly plan to strengthen this economy and bring back a healthy middle class? Funding the poor I'm sorry to say is not exactly the answer. Where is that funding going to come from? The middle class is not riding around in yachts. In fact they barely have enough savings to cover a month of bills. This new normal and status quo is destroying our country - Democrats don't discuss this, they do not DO private union advocacy. They support public unions but then again the working class pays for them too. I blame Democrats more than Trump for their obvious failure to rebuild our nation and dismantle this greed driven system which has the working class pulling the wagon for everyone but themselves. They do deserve the things they have worked hard for, they do deserve to keep what they have built. They don't deserve to have Wall Street or our government take it all away. This election I predict the working class is going to protect themselves in the ways they think they can. They can't get job creation, they can't get stability, savings, or good paying jobs or Wall Street to pay their fair share - what they can or think they can do is hold on to some of their tax dollars. It's about money. It's always about money - it's about survival. Race or whatever issues get dragged onto the table - the most important thing to the middle class - is how to keep a roof overhead, how to feed their families, how to make ends meet. It's that simple.

[-] 1 points by elf3 (4187) 3 days ago

BUT there is an answer and that is that ALL of us left and right poor and middle class come together to DEMAND an end to the corporate rule of our government. Our goveration has done terrible things for anyone who is not in the top 5 percent. We can change this. We can join on this issue which does effect us all, which is currently destroying our democracy and way of life. We do need to make America great again - and the way we do that is by getting money out of politics and ending the corporate takeover and rule of our society. Neither Republicans or Democrats are going to do this for us - we as a people must come together and change this, whatever happens this next election we must do this together. It is our duty and it is our greatest weapon against the things making our country terrible - our unity is our greatest weapon in the fight against greed. No it is not the middle class who is greedy and asking for too much - it is Wall Street, it is our banks and insurance companies, and corporations who are taking too much from all of us, they have brought down our nation in so many ways - it's time we take it back together.