Posted 1 year ago on Sept. 16, 2020, 11:52 a.m. EST by agkaiser
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