Forum Post: Plutocratic Oligarchy

We live in a plutocratic oligarchy. Our puppet governments are operated with strings attached to Wall St. Oligarchs. The wealth of the ruling elite plutocrats grows at the rate of compound interest. As they acquire more and more money and property, our indebtedness grows. They increase profits with overhead transactions that are not connected to real production and interest on the money they loan us from the excess they accumulate by, among other crimes, paying us to little to maintain a decent life. This can't end well!

"So IMF chief Georgieva said this coming decade will be far from one of milk and honey. She warns that there’s great uncertainty building up and the point she was making is that technology change, the rise of the internet and so on, plus mounting debt ,,, corporate debt, these things are fueling inequality which in turn is fueling populism and fueling political extremism. Now in many respects, this situation mirrors the roaring twenties ..." John Christensen of the Tax Justice Network

“too often we overlook the financial system, which can also have a profound and long lasting, positive or negative effect on inequality." IMF chief Kristalina Georgieva

"Now it’s that 'negative' effect which we identify as the finance curse, when too large a finance sector starts to drain wealth away from the real economy, and it’s good to have the head of the IMF drawing attention to this. We’ve been drawing attention to it for many years, but it’s good that this is now reaching the mainstream." John Christensen of the Tax Justice Network

https://www.nakedcapitalism.com/2020/01/another-great-depression-or-tax-justice-and-transparency-the-tax-justice-network-january-2020-podcast.html