Debt Rattle February 28 2016
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Harris&Ewing US Weather Bureau kiosque, Pennsylvania Avenue, Washington, DC 1921 • Markets At Risk As G20 Proves Investor Hopes Were “Pure Fantasy” (Z
[See the full post at: Debt Rattle February 28 2016]I would like to second the motion to read the following …
(There were other social/economic system that used to operate before our CAPITALIST systems.
Hints are to be found in …)How land barons, industrialists and bankers corrupted economics
and
Progress and Poverty
https://mises.org/sites/default/files/Progress%20and%20Poverty_3.pdf
The wealthy and influential just couldn’t let the dangerous ideas spread.
… a system that funnels power and wealth to a parasitic minority.
– Henry George, “Progress and Poverty”Whatever happens, no future economy should have the flaws we have now.
jal – from your first link:
“Tragically only a handful of economists predicted the Global Financial Crisis of 2007-8…..If any other profession (e.g medicine) was so wrong in something that affected millions they would be sued. The universities who train economists should hang their heads in shame.”
Oh, but it IS done elsewhere, especially in the field of medicine. Doctors are taught to treat the “effects”, not the causes, with prescriptions, lots and lots of them, keeping the pharmaceutical industry very happy. University research is steered toward this end. “Don’t give us cures. Give us something that makes us billions today, and each and every year going forward.” Dieticians and nutritionists are taught the very things that profit the processed food industry. New information that happens to leak out is quickly discredited, or it never sees the light of day.
I believe millions upon millions of people have unnecessarily lost their lives because information was held back in order to placate big money. Physical destruction. Of course, we already know and talk daily about the economic destruction that occurs from the banking cartel, resulting in the riff-raff ending up with the short end of the stick always while leaving the financial elite whole. All of the above slowly, but surely ends up causing psychological destruction among the common population.
Destruction right down the line, and all so a very few world elite can profit. Sickening.
Even the so-called heroes we love to honor are in many cases constructed out of a bunch of made-up bull.
“As Churchill himself boasted, he “created Jordan with a stroke of a pen one Sunday afternoon,” thereby placing many Jordanians under the brutal thumb of a throneless Hashemite prince, Abdullah. Historian Michael R. Burch recalls how the huge zigzag in Jordan’s eastern border with Saudi Arabia has been called “Winston’s Hiccup” or “Churchill’s Sneeze” because Churchill carelessly drew the expansive boundary after a generous lunch.
Churchill also invented Iraq. After giving Jordan to Prince Abdullah, Churchill, the great believer in democracy that he was, gave Prince Abdullah’s brother Faisal an arbitrary patch of desert that became Iraq. Faisal and Abdullah were war buddies of Churchill’s friend T. E. Lawrence, the famous “Lawrence of Arabia”.
Much like the clumsy actions in Iraq of today’s great Empire, Churchill’s imperial foreign policy caused decades of instability in Iraq by arbitrarily locking together three warring ethnic groups that have been bleeding heavily ever since. In Iraq, Churchill bundled together the three Ottoman vilayets of Basra that was predominantly Shiite, Baghdad that was Sunni, and Mosul that was mainly Kurd.
Ask almost anyone outside of Iraq who is responsible for the unstable mess that Iraq is in today and they are likely to say one word, either “Bush” or “America”. However, if you asked anyone within Iraq who is mainly responsible for Iraq’s problems over the last half century and they are likely to simply say “Churchill”.
Winston Churchill convened the 1912 Conference in Cairo to determine the boundaries of the British Middle Eastern mandate and T.E. Lawrence was the most influential delegate. Churchill did not invite a single Arab to the conference, which is shocking but hardly surprising since in his memoirs Churchill said that he never consulted the Arabs about his plans for them.
The arbitrary lines drawn in Middle Eastern sand by Churchillian imperialism were never going to withstand the test of time. To this day, Churchill’s actions have denied Jordanians, Iraqis, Kurds and Palestinians anything resembling true democracy and national stability.
The intractable Israeli-Palestinian conflict can also be traced directly back to Churchill’s door at number 10 Downing Street and his decision to hand over the “Promised Land” to both Arabs and Jews. Churchill gave practical effect to the Balfour declaration of 1917, which expressed Britain’s support for the creation of a Jewish homeland, resulting in the biggest single error of British foreign policy in the Middle East. […]
Churchill was also one of the greatest advocates of Britain’s disastrous divide-and-rule foreign policy.
Churchill’s administration deliberately created and exacerbated sectarian fissures within India’s independence movement, between Indian Hindus and Muslims that have had devastating effects on the region ever since.”
What type of a guy does all this, all in one lifetime?
Great selection of articles today, Raul.
Raleigh,
Don’t forget what the university of experts has done in agriculture. Problems in agricultural production are “solved” with more synthetic rescue chemisties (synthetic pesticides), limited analysis fertilizers, and “ingenious” shuffling of genes (aka GMO’s). This greatly profits the large industries that bring such inputs to farmers. Too little is done to promote soil building–nutrient balancing, organic matter increase, and microbiologic diversity. We know that sick soils equal sick crops, equal sick livestock, equal sick people. The good news is that there is a counter culture of farmers and consumers that are bucking that trend and bringing clean, nutrient dense food to the marketplace.
The story of Henry George reminds me a lot of the story of Carl Wilken. Wilken, an Iowa farmer, in researching the causes of the Great Depression, discovered the relationship of raw material prices, and the corresponding raw material income, with national income. He was the force in getting Congress to pass the bills that made a parity economy possible during World War II, and the two years after the war. When the legislation was due to expire, he and others tried their hardest to make the legislation permanent. But, just like with George, the powers that be, brought in every bureaucrat, economist, university expert, and hired gun and hack to discredit the thing. Long story short, the legislation was replaced, watered down, and plainly ignored, which then caused the shortage of national income we still live with today.
Why was the parity economy opposed? Simply, it was because it was a fair trade balanced economy. Sadly, many people today profit from speculation/gambling, unfair trade across borders, war, and, as Trivium points out endlessly here, the debt fiat money that requires large amounts of rent for its use.
I always enjoyed what Benjamin Franklin said concerning this issue. He said there were three ways for a nation to become wealthy. First was by war, and taking away the wealth of another by force. Second was by trade, which to make a profit requires something cheap (cheating someone of their money). The third was by agriculture, whereby planting a seed you create new wealth as if by a miracle.
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