Tag Archives: economics

GLOBAL CAPITALISM’S FATAL FLAWS! Earth Demands An Alternative Economic System To Replace This Scam, Which Fails Every 10-Years, Bribes & Dominates All Politics To Benefit The Few, Creates Unconscionable Disparity Of Wealth, Produces Vast Poverty On A Planet Of Great Prosperity & Swallows Up Even Large Corporations To Gorge The Strongest Behemoths! Capitalism Makes People Yearn For The Days Of Dynasties & Monarchs Before Democracy & Its Twin Vulture, Capitalism, Reared Their Double-Headed Anathema. Democracy Is Worthless If The Populace Is Denied Adequate Education As In America. Capitalism & Democracy Cannot Be Amended, Patched, Modified Or Revamped; No Corrective Alterations Are Sustainable Because We’ve Had Them, And Elitists Removed Them One-By-One! None Of These Abominations Are Accidental! Machiavellian Planning Is There For All To See! The Election Of Bernie Sanders Would Signal The End Of Capitalism As We Know It!

CAPITALISM’S FLAWS
I –Great Concentration Of Wealth In Hands Of The Few
II –Entitlements Are Never Considered Unless They Contain Inherent Elements For Capitalistic Profits
III-Perceived Intrinsic Item Value Is Actually A Subjective Concept, Not Objective
IV-Money Has Only ‘Proxy’ Value, Not Naturally Intrinsic
V-Capitalism Considers First: Productivity, Growth, Prosperity, Second: Individual Freedom & Third: People. This Hierarchy Should Be Reversed, And Computers Must Not Rule People
VI-U.S. Politicians Have Removed Laws, Which Prevented Themselves From Accepting Corporate Bribes; Lobbying Now Makes Political Bribery Legal
VII-Vast Majority Of Investments Made In Speculation, Not Production
VIII-Global Neo-Capitalism Induces Consumers, Businesses & Governments To Buy On Credit By Borrowing, Placing Consumers & Nations in Debilitating Death Traps Continue reading

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Tabacco’s All-Time No. 30 Hit @Blog-City: 15,637 Hits – GPI (GENUINE PROGRESS INDICATOR) Vs. All Other Economic Indicators: Only GPI, Not GDP, Tells The Whole Truth! That’s Why GOP & Dems Won’t Use It! GDP Treats Crime, Pollution, Medical Expenses, Home Repair Bills As GDP Pluses – GPI1 of 2 – RI10

Economists, policymakers, reporters, and the public rely on the GDP as a shorthand indicator of progress; but the GDP is merely a sum of national spending with no distinctions between transactions that add to well-being and those that diminish it.

“A rising tide does not necessarily lift all boats—not if the gap between the very rich and everyone else increases. Both economic theory and common sense tell us that the poor benefit more from a given increase in their income than do the rich. Accordingly, the GPI rises when the poor receive a larger percentage of national income, and falls when their share decreases.”

Tabacco: People, who cannot afford to buy Stocks & Bonds, generally do NOT follow the Markets. If you cannot sign your name to a personal check which will clear – greater than or equal to $1-million – all that Growth indicated by the GDP is NOT YOURS! None of that “Growth” affects you in any way. If it belongs to Trump, Bush and the Koch brothers, not in your bank account or pocket, it does you no good. This Process has 3 names, which have become dirty words: “TRICKLE DOWN”, “CLASS WARFARE” & “REDISTRIBUTION OF WEALTH” – you’d better relearn those terms and verbalize all three early and often! Continue reading

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AMERICAN CAPITALISM SERIES, Part II: CIO, SOCIALISTS, COMMUNISTS & FDR’s NEW DEAL! Political Solutions Without The Greedy Rich, The Mainstream Media, Democrats, Republicans Or The Supreme Court! That In Itself Is A New Concept! Richard Wolff Offers Viable, Innovative, Unconventional Solutions To Correct Capitalism’s Selfishness, Unfairness & Excesses. Politicians Either Can’t Or Won’t Solve Problems. And He Gives A History Lesson On FDR’s NEW DEAL And Why Corporations And Rich Financed It To Prevent Socialism And Communism From Replacing American Capitalism. New Thinking And New Approaches Are Needed To Achieve Results For Currently Insoluble Dilemmas & Future Crises Just As FDR Used During Great Depression. There Have Been 13 Depressions Or Recessions Since 1929. Every President Has Had At Least 1. Each Promises, “My Policies Will (1) End Current Crisis And (2) Ensure We Never Have A Crisis Like This Again!” Has Any President Succeeded In Keeping His Promise To Date? You Tell Me!

THE INDUSTRY GAME OF MONOPOLY, PLAYED WITH REAL MONEY:

NARRATOR: John D. Rockefeller’s oil makes up nearly 40% of the cargo shipped on the rails. But, when Vanderbilt teams with his (own) biggest rival (Tom Scott, Pennsylvania RR) to push for a Rate Increase, Rockefeller takes it as a Declaration of War! He builds a Pipeline in response and begins to pull his shipments (from the railroads). And since the railroads have been drastically overbuilt, losing cargo means losing money.

Stocks plummet as Investors run scared! By the time the PANIC of 1873 is through, 1/3 of the country’s 360 Railroad Companies have gone bankrupt!

JOHN D. ROCKEFELLER – TOM SCOTT CONVERSATION:
(NARRATOR: No one has capitalized more on the growth of the oil industry than John D. Rockefeller, who now controls 90% of the U.S. oil market. With the death of Cornelius Vanderbilt, only one man stands in the way of Rockefeller’s complete control of oil – Tom Scott!)
ROCKEFELLER: I’ve tried to be friendly to the Pennsylvania. I’ve given you plenty of business, have I not?
SCOTT: (Nods affirmatively)
ROCKEFELLER: And now I find that you’re invading my field, and that, my friend, is piracy!
SCOTT: (rising from his chair) We’ll take your feelings into account, Mr. Rockefeller.
ROCKEFELLER: (rising to shake hands) Two-thirds of the oil you carry comes from me. If you don’t retreat, I’ll take it to the other railroads.
SCOTT: As far as I’m aware, there isn’t another railroad that runs from Pittsburgh to New York. (He then walks out of the room, followed by his protégé, Andrew Carnegie)
———————————————————————
ROCKEFELLER: I don’t want one drop of our oil traveling on the Pennsylvania!
ASSISTANT: But what about the Pittsburgh Refineries?
ROCKEFELLER: Shut them down!
(NARRATOR: Shutting down his refineries will cost Standard Oil a fortune in lost revenue! But for Rockefeller, crushing his Competition matters more than anything else!

Without Rockefeller’s oil, Scott loses nearly half of his business, forcing him to layoff tens of thousands of workers and drastically cut wages. Those workers take to the streets in protest. And, as darkness falls on Pittsburgh, they turn violent. A fire is set in Tom Scott’s train yards. Before the night is over, more than 39 buildings and over 1,200 train cars are destroyed. Tom Scott’s Company lays in ruin!

H. W. BRANDS, Historian: This is how Capitalism works!
(Transcribed by Tabacco from ‘All New – The Men Who Built America: More 2 Version’, Episode: A New War Begins) Continue reading

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AMERICAN CAPITALISM SERIES, Part I: THE CAPITALISM MYSTIQUE! Political Solutions Without Reliance On The Greedy Rich, Corporations, The Mainstream Media, Democrats, Republicans Or The Supreme Court! That In Itself Is A New Concept! Richard Wolff Offers Viable, Innovative, Unconventional Solutions To Correct Capitalism’s Selfishness, Unfairness & Excesses. Politicians Either Can’t Or Won’t Solve Problems. New Thinking And New Approaches Are Needed To Achieve Results For Currently Insoluble Dilemmas & Future Crises Just As FDR Used During The Great Depression. There Have Been 13 Depressions Or Recessions Since 1929. Every President Has Had At Least 1. Each Promises, “My Policies Will (1) End Current Crisis And (2) Ensure We Never Have A Crisis Like This Again!” Has Any President Succeeded In Keeping His Promise To Date? You Tell Me!

TABACCO: The “OCCUPY MOVEMENTS” are futile, unsuccessful attempts by REAL Grass Roots to achieve Economic Change. They could not succeed because at its heart it requires the Individual Rich, the Corporatists, the MSM and the Politicos to feel so embarrassed, so ashamed that they would capitulate and DO THE RIGHT THING! You can never embarrass those guys enough to achieve your own Goals of FAIRNESS! Nor will they respond favorably to entreaty and pleading!

“Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found the exact measure of injustice and wrong, which will be imposed upon them, and these will continue till they are resisted with either words or blows, or both. The limits of tyrants are prescribed by the endurance of those whom they oppress.” – Frederick Douglass

Without a doubt, this Series is the most important and universal subject I have tackled since I began blogging in 2005. Continue reading

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