I am the person who will destroy China. (madman101) wrote,
I am the person who will destroy China.

And when labour is gone... There's always need. Hi, need!

Instead of wealth going into small/business growth and invention, it has been amassed and simultaneously whittled away into gambling debacles, war, military covert budgets, global corruption rackets, cheap labour for China's growth, investment into oil monopolies instead of green tech, and now into repressions of the very people who first generated true wealth. The further away capital abstracts from original labour, hidden in an epoch of rampant borrowing and free money for the rich, the more true inflation, and a destructive future, is inevitable. Inflationary depression. Most wealth is abused and frittered away, but is greatly kept numerically in the hands of a profitting few. Capital has become a monument of artifice - A LIE. We are not bonded to contracts based on lies... We are originally a free people - slaves to no one but our will.

I'm wondering if the people who took us off the gold standard in 1971 were aware of a relationship of the standard to the emerging labour glut. The more I think about it, the more I am pretty sure they did, even though most people back then were in no way facing the reality of the latter.

When I think of how the Fed, et al, was stacked since 1913, and how presidents were felled who opposed a US central banks and favoured the TREASURY OF THE PEOPLE actually printing the currency, I see that there were probably insider economists who saw that the only next move to make, to hide the emerging labour glut, was to begin a REIGN OF DEBT., primarilly, (ultimately), of the US gov't, BORROWING from the Fed, to the profit of Fed-connected banksters, and to the gradual erosion of the wealth of taxpayers, and the "little people", (like mortgaged folks), and small businesses ALSO borrowing), along with the value of the DOLLAR, (and the related rise in the value of gold). (It is the rise in the value of gold which they have been trying to manipulate in order to now hide the inherent accelerating weakening of the dollar and of the US economy - i.e., to try to hide emerging inflation).

So, they realised that there must be a policy of Fed interest rate manipulations, (an ethic now contagious in the form of widescale LIBOR manipulation), and of EVER-INCREASING PRINTING OF FREE FUNNY MONEY OUT OF THIN AIR, IN ORDER TO DOLE OUT TO THE GOV'T AND THE PEOPLE VIA THE FALTERING BANKING SYSTEM. What has been another way of hiding the spectre of inflation, arising from so much dumping of new cash? KEEP THE CASH LOCKED UP AT THE TOP, IN THE BANKING SYSTEM - KEEP OTHER INTEREST RATES PROHIBITIVELY HIGH SO THAT CREDIT BECOMES DENIED TO THE GRASSROOTS ECONOMY.

This trend has become more and more pronounced and more and more entrenched in the last decade, as wealth has flowed up to the top 10% - 5% - 2% - 1%...

On the other hand, maybe economists back in 1971 were really only acting out of evolving, awkward theories based on basic concepts derived from textbooks, like inflation vs interest rates. But it is hard to believe that at least some Marxism-familiar economists did not contribute their insight that an emerging labour glut, good for monopolising corporations, would require a switch from a manufacturing to a service, and then to a predominantly CREDIT, economy.

The pro-service folks - whom I am now calling the, "TOFFLER SUPPLY-SIDERS," like Gingrich, were paleo-Randians are still running around in power today, as Neo-Libs and so Neo-Cons, grabbing the US MIDDLE/moderate class by the balls, still preaching that greed is good for everyone and that wealth will somehow therefore magically trickle down to everyone, and they do so by callously getting us into more wars and tax-cuts, all financed by borrowing.

And the goal to BORROW BORROW BOROOW while there is a GOP president, and then BLAME BLAME BLAME the resulting deficits on the Democrats, is a deliberate stragedy that goes back perhaps all the way to 1971, when the Heritage and Cato Institutes, the Koch-related JOHN BIRCH SOCIETY, the antics of Monsanto Rumsfeld and War-Machine Cheney, were all forming.

Monsanto underwrote BAIN, a true BANE upon our economy, which backed ROMNEY and owns CLEARCHANNEL, the latter which recently put PORTLAND PROGRESSIVE TALK STATION KPOJ OUT OF BUSINESS.

Well, these TOFFLER SUPPLY-SIDERS and RANDians like GREENSPAN, believed, and stil believe, that the massive increase of productivity to "beyond-manufacturing" companies, creating massive profits, would trickle down to the wider society, now referred to as, "useless eaters" (Rand, etc.), "muppets" (Goldman Sachs), "the 47%" (Romney), "the little people" (BP), "LIB-erals!" (Limbaugh, et al), "Likely Terrorists"... etc., even though this would gradually erode the US consumer economy.

This abundant profit, (capital), was mainly derived from various and concerted assaults on the power of LABOUR, (and so the corporate savings from relatively falling wages), such as:

1 - Flight of manufacturing/jobs to our overseas TNC corporations;

2 - Introduction of anticipated computers, robots and other job-minimisng technologes;

3 - push of women and Hispanics into the job market;

4 - Continuing immigrations;

5 - The wonderful rise of TOFFLERian TEMP-JOBS and PART-TIME and low-paying SERVICE jobs;

6 - initially cheap availability of credit;

7 - the fall of the real value of the dollar and so in the rise in more NEED from workers;

8 - ultimately, the return of (stag)-flation;

9 - emerging competing markets overseas, now oriented towards buy US bonds and buying up basic, low-skill, US Banana-Republic-type resources;

10 - deliberate, methodical corporate/GOP busting of the unions, the Democratic party base, and of pro-wage/union legislation - as through emergence of "Right-to-Work" states - or the "Citizens United" ruling.

Instead, the great gush of capital, like the so-called, "Peace Dividend," was shunted away to financial and Wall Street gambling and piddling away, at the taxpayers' and borrowers' expense. The pretense of the Protestant Ethic is now being brandished to require these very same VICTIMS to further feed the wealth-extraction, by covering their losses, amounting in $Trillions upon $Trillions, of which we have hardly seen the BEGINNING, so far.

This addictive, urgent need to basically to burn off surfeit capital into the smoke of gambling losses, wars, tax-cuts, hedge-fund wars, black budgets, drug and munitions and sex trafficking, all into the hands of a smaller and smaller group at the top, somehow requires that MORE MONEY BE HANDED OVER TO THEM, (since the Fed prints and loans the money freely, for a fee, in the first place).

In this way, inflation, but more importantly DEPRESSION, is averted by keeping as much wealth locked up as possible. And this conspiracy is so grand, I can only see it as a major, common human flaw, brought out by the wonders of badly regulated Capitalism. But, again, what about those complicit Marxists who had some inkling of this coming? (Progressives HAVE to look at this idea, just as the far-right does, although to extreme).

The urgent need to burn away as much surfeit capital as possible is inseparable from the unseen need to destroy the wealth of smaller competitors and of the people in general, as through lowering wages, feeding corporate campaign contributors and then slashing services and pensions/unions, or through privatising the commons for profit.

Too many people, fewer and fewer jobs, equals falling wages. This translate into a boon for capital, which abstracts and abstracts until capital becomes little more than CREDIT-BASED.

It is a logical consequence of the declining general wealth of the commons towards the hands of an incompetent or greedy few, who, as decision makers, have little wisdom or effect in reinvesting on the public behalf.

Falling wages inevitably, in time, translates into rising cost inflation, (and dollar devaluation), AFTER it is hidden in the great smoke-screen of rampant borrowing.

As labour is superior to capital, being the genesis of capital, (ultimately not through the things and savings made, i.e., dollars offered up, but through the actions and velocity of vast democratic-type valuations, including those related to morality), then capital taken from, "artificial labour", is nothing but theft - it is bane capital - insane capital.

It cannot be hidden behind pointless wars; a military/oil-backed fiat currency; BORROWING-to-give-to-the-rich, AUSTERITY for the poor; money that grows on trees for idle hyperspace gamblers; THE RECRUITMENT OF EXCESS LABOURERS TO DIE IN POINTLESS WARS, along with most of the capital; or currency and commodity manipulations; or corruption, or forceful police state tactics, for long, until the human and humane forces BEHIND labour once again reclaim the origin of what is true wealth in this world. Gold, or such, can be reset as the standard, but only when, hopefully, this transformation occurs.

Wealth, first and foremost, emanates from within.

For more info, see firedoglake, truthout, wikipedia, under, "labor shortage," and also http://rdwolff.org. Some solutions: tax the profligate rich, regulate and tax Wall Street, JUBILEE, nationalisation of the Fed and other monopolies, internalisation of wealth from TNCs and trade, non-debt-based currency printing via the TREASURY, extensive campaign finance reform, grassroots and infrastructure Keynesian investment, as in JOBS bills...

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