Wealth is Not the Same as Money.
The Reagan Revolution to Romney-Ryan: it’s all about the rechanneling of wealth.
One of the elements that’s missing for them is new technology. RayGun had video stores, fast food, stock brokers and war spending. A watershed of dollar$ seeking high rates of return from bonds to stocks. Clinton had the internet, personal computers, fibre optics. So where’s the element of New Growth? Where’s the new growth sector?
Hello, Mittney, are you there?
As I’ve shown in past blog entries, recessions are a traditional USA happening, they occur and have occurred, quite frequently and even in those periods with which the GOPstapo seem to be most enamored, the Roaring 20s.
To make the distinction as succint as possible, under the GOPstapo, money makes money, “but you’d better hurry cause it’s going fast”, there’s a recession right around the corner.
It’s kind of like a County Fair: the Moneyed Class gets to go 1st, they get set, the gates are open, quick, catch your prize !! So the Monied Class get tortoises which they trade in like casino chips for ece(s) [electronic credit entries] and then when that game is over, it’s everyone else’s turn, they get a greased piglet. By the 50s, they called it, “The Rat Race”.
Eugene Robinson nailed it on the Special Edition of “Hardball: with Chris Matthews”, Saturday August 11, 2012 on MSNBC:
“Individualism vs. Community”
The individuals, Party together, while everyone else, struggles together.
And the question, here, for our immediate purposes is twofold: where do the party supply(s) come from and how do they use it.
In the history of capitalism, beginning with the Charter of the Bank of England, supply came from the government corporation, the Bank of England, the government Treasury and the mint; and this was the way the Federalists had it set up too but USA Conservatives don’t like that arrangement so they went ahead and made their own supply - the banking debacle we’re still going through is the result of that, along with their unpaid for wars; and this latter factor segues into the second element, which is, how shall this supply be used. What sort of party are we going to have - a pleasant practical ongoing one, where we can stop by for subsistence and other simple pleasures like enjoying the flowers or something else. The immediate inference is that when the supply originates from it’s long established source then government has greater control over the manner in which it’s used, so whether the policy is laissez faire or something else remains a prerogative of government or with greater technical precision, delegated authority within the bounds of the law of the land; but when supply originates from some other source, classic examples are various forms of counterfeiting and those things proscribed by US Const Art 1, section 10, then that control and Order, is lost, or more accurately stated irresponsibly relinquished, which is incontrovertibly what happened. Corroboration? US Senators asking private banks “who is in charge”. Hmm. Well this is the way the GOPstapo and their White Southern Democratic brethren like to do things and now Romney-Ryan, after making it more difficult to vote, are asking the remainder of you to give them permission to do it again. This is the choice in November and it’s truly regrettable that it doesn’t go deeper than it does, because it has to. Let me try to help you with some of the details
Counterfeiting (see US Const Art. 1, sec 8, clause 6) is pretty easy to understand. In it’s most common representation a person(s) makes phony currency notes, buys something with it and then gets real money as change, or more precisely, real money and a tangible good for worthless paper; and yet a free market philosopher of today would surely argue that it must be worth something because someone else gave the bearer tangible goods and real money in exchange for it, just like when you bid up the price for gold or silver and then eat it, drink it, fashion a dildo out of it or else exchange it for the stuff the market makers are bitching about, which is almost always, US dollar$.
Keep this is mind as we proceed. And now getting back to our story …
There is the radical individual, sipping a mint julip on the veranda, the proletariat is picking cotton in the field below while the Bourgeoisie play Blues Music for Mastah. But this is the way it has to be, because everyone except me, adamantly insists, that there shall be no communism. Note the words, community, communism … and no sooner do you mention this remarkable similarity in words than the Democratics are already patting their foreheads with their white handkerchiefs, no no no we’re not communists we’re, we’re not Socialists, we, we, we stand for the national Anthem and pledge our Allegiance to free market capitalism !! huh? wait a minute, are you Republicans then? because that’s pretty much what they’re saying too; and in the meantime the Nazi Fascist GOPstapo have their clear cut message - cut taxes, cut spending and let freedom ring - and then the Democratics are like welllllllll, yes but ah, we want to make it fair. Yeah yeah that’s the ticket. Fairness. We want to make it fair. We want everyone to have “a fair shot”.
Ok, then, let the monied class have the piglet, collect any surplus tortoises and give us back the ece(s) they’re not using.
And then the GOPstapo is like no, no, no, you can’t do that !!
Because the GOPstapo actually believe that surplus money that the monied class, have, but aren’t using, is wealth. So the private sector decided to make it’s own supply, what the Gold Bugs in the Republican Party used to refer to as “funny money” and now through Romney-Ryan-McConnell transubstantiation it’s suddenly the life blood of freedom, the Holy Grail of Jefferson runneth over. Indeed. Well it’s the bankers that ought to have their Hermes out over that one, because like it or not it’s the moneyed class along with Mittney himself duped into thinking that all of this funny money has either augmented their wealth or else made them wealthy (or how many rooms or homes can you live in, or how many vehicles can you drive, at the same time); and yet this funny money was used to successfully secure real tangible assets, so it must be worth something. Ok, so why doesn’t the Nation become wealthy then if we take all of this surplus money and use it for things that the monied class aren’t using it for?
None Dare, ask that question … and look, the Democratics already have their handkerchiefs out !!
This election is the Democratics’ to lose.
And one of the things they have to do, is cure their habitual diffidence, and the way to do that is to make a clear unequivocal distinction - are they going to be the party of Tip O’Neil - all politics are local, State Rights; it’s such a nice day, I think I’ll call Ronnie and see if he wants to play golf; or are they going to be a serious National Party; and if they’re going to be a serious National Party then they have to take a step beyond war, as the only thing which they consider National and start thinking about The Wealth of Our Nation.
Because that is what the clear choice really ought to be about; the clear choice ought to at least go that deep:
The Wealth of Our Nation vs Individual Opulence.
And if it’s not going to go that deep? Then it’s going to be who can collect the most ece(s) the quickest and then stand around saying “you don’t want to punish success do you”? While they count their money and turn government over to the Democratics, again.
The point is, how many ece(s) [electronic credit entries] an individual or a comglomerate can amass - whether they do it with real money or something else - does not resolve into the Wealth of a Nation except maybe the Wealth of the Nation “B” that buys all the raw resources they need from Nation USA, with the ece(s), that some USA individual(s) spent in nation “B”.
The inherent distinction is easy to see
Romney-Ryan are radical individualists - do what thou wilt shall be the whole of the law - and the only National vision they have is that the USA is a massive chunk of raw resources to be sold by the government and from there, the new private individual owners will sell these chunks to the fittest of businessmen, to do what thou wilt, with as little government regulation or intervention, as Congress can bear.
Simply put, the entire Republican Party, particularly in the US House of Representatives, just don’t want to be bothered with government at all and for all intents and purposes they are at war against it; and if they can wrest control of the actual money making functions of Our government, which is the heart soul and flesh of capitalism, and as it is thus used to Move the Wealth of Our Nation, then they also come into control of the Wealth of Our Nation too and then can do whatever they want with it for whatever they want. This is the freedom they’re talking about, this is their “pursuit of happiness” and because they are a monopoly against you, the proletariat, it’s the only pursuit that shall be allowed, hence the last vestige of government under them shall be used to control you.
Even if you think you’ve got what it takes to play their game, it’s like trying to get into a high stakes poker match with $10.00. There’s no “fair shot” and even if there was, it’s still a gamble; and when the whole things fails again and then when they come crying to the tax payer, where do you think your place will be in that line?
Many of these people want to export raw resources for their own individual gain.
And from what I’ve seen the only people that actually see and understand this, in Congress, are Ed Markey and Alcee Hastings and If I have to look for them or anyone else hip to this then that means we’re not getting across to the general public and thus there is no perceptible opposition to the selling of the Public and the selling or giving away of Our National Wealth in exchange for ece(s). What are you going to buy with them? What are you going to do with them? What are you going to use them for? “You Can’t Take it With You”
That’s why Romney-Ryan are everything that this Nation, and you, do not need.
And the Main Stream Media is so superficial, and they so fritter away the incredible amount of time and power that is available to them. So, please, let me fill you in on the finer details and niceties.
What is “trickle down economics”
As a preliminary, there is an argument to be made, which I have done in my previous blog entries: that when credit is extended on the basis of “real tangible asset reserves”, such as monetized gold, then that “paper money” is what brings gold into circulation, otherwise it just lays there and does nothing; but when that “paper money” brings into being another tangible asset then that paper money is “as good as gold”.
And this is what the function of a responsible commercial bank is
For example, I’m a businessman and I need to spend and thus borrow x amt of dollar$ in order to get this particular commodity to market. The bank extends to me the necessary credit and then the transaction and adventure are completed. That resulting money, which the bank made, represented for this short transitional period an actual tangible asset that was soon brought into being, was put to use and then that credit extension was balanced by my repayment of the short term loan from the proceeds of that sale.
The profit I made by these aforesaid actions represents the use of the commodity which comes from the proceeds of some other sale. So as long as the monetary credit keeps circulating as such, then everything’s hunky dory
But if the asset on which the loan is based, has no inherent value, other than some other person’s view to profit by reselling it, and if no one buys it, then the loan goes bad, in which case rather than the money being as good as gold, it isn’t worth the paper, the promise is written on
Gresham’s Law - bad money chases out the good.
This is what irresponsible commercial banks do.
They make bad loans and use that transitional money as security for further loans and thus there is an overextension of credit based on risky assumptions of growth; and this overextension is what always fuels the GOPstapo hurry up it’s Party time and the punch is going fast.
The supply function has to be coordinated, between the Central Bank and the Federal Treasury, for responsible commercial use. The “Conservatives” have led you to believe that doing so is evil, communistic all that is bad in life; and that the decentralization and dis-coordination of this supply function is what is good, White, Christian and free and then when you vote for them and give them their “mandate” to decentralize, dis-coordinate and get big government off their backs …
This is where the monied class make their mad dash for the great multitude of tortoises; and then with the bourgeoisie wanting to “profit” too and become part of the monied class, they start obsequiously buying up the tortoises until no one has any money to buy them from the bourgeoisie: because the monied class is off to the Riveria, with the loot, and there goes the Fed with the punch bowl, running away in tails; leaving the bourgeoisie on the croquette lawn holding a shitload of tortoises in hand; who look hither and yon, then laying the tortoises on their back, hurry off to the study to draw up new schemes to soak the proletariat, led by that clever young lad Ryan whom they cry to there’s no growth - no one wants to buy the tortoises !! and then the Democratics eventually get (re)elected as the patsy to receive the passed on blame.
This is why Romney-Ryan want to abolish Dodd-Frank and other banking regulations. The economic castastophe that results is to them just another US recession, time to relax, energize. The Party happens between their election and when the bourgeoisie buy up all the tortoises on margins they can’t cover.
Generally speaking the monied class merely play the game and follow the rules (cf. part 2), if they had a party it would be called “the know nothings”, Ahahaha Let them eat cake. But aren’t you concerned about these Bourgeoisie businessmen soaking you for all of these miscellaneous services, gems, jewelry and couture blue jeans. Huh?
The Taxation Thing.
The abolish taxation element of “trickle down economics” facilitates the bourgeoisie’s ability to essentially rob the monied class of surplus money, that is, money they don’t need or even realize they have and thus will never miss; rather than allowing the government to collect it, in order to spend it on the general welfare or for that matter anything else including servicing the National Debt.
So instead of it being a matter of a limited amount of money, because of a gold standard, reserve requirements, a responsible banking system, with the bourgeoise wanting as much of the money as possible, instead of allowing the government to collect it in the form of taxation, thence using it for whatever purpose the greater number decides; it’s now a matter of, we don’t want to allow progressive taxation because it decreases the margins on the worthless shit that we want to sell to DaddyWarbucks as chic, the post Great Depression monied class.
So trickle down in trickle down economics is the money that the bourgeoisie finagle out or just outright steal from the monied class: in overcharges, tax avoidance schemes or whatever other form of free market entrepreneurial services they can dream up; because the bourgeoisie’s sole aspiration is to become one of the monied class and this is what the GOPstapo and the people they represent are, wannabe(s).
Me, myself and probably anyone else ever reading this are proletariat scum, we’re like ants, we have no individual worth or value we’re just lied to cheated and abused as a whole, as a community, while the bourgeoisie do the same to the monied class but on an individual - here let me warmly butter your cock - basis, which is referred to as “business”
Did they give you the business? UmHmmm ;;)
In terms of the Wealth of the Nation there is no need on earth to force the proletariat to live a life of indentured servitude and debt; and get hip to this - we don’t do it for the monied class, we do it for the bourgeoisie. So if you want to play the Rat Race and think this will make you a millionaire then your clear choice and Manifest Destiny is to join the GOPstapo and vote for Romney-Ryan. Get insider info, know when the tortoise squall is going to start, have the cash on hand to “invest” (get it by selling drugs, slaves, guns, yourself for sex, rob steal, con people whatever) and then get out when the bourgeoise idiots start buying the tortoises, just don’t forget, you’re one of them too and it’s a race, remember? You must claw, scratch, gouge, compete; but if you wait too long to finish? You lose and if you lose, you’re ruined. But to them, it’s just another run.
That’s the totality of the Romney-Ryan vision and for that matter the vision of anyone in the GOP. They’re the last thing this Nation needs and you don’t need them either. They’re social parasites.
Now getting back to the aforesaid balancing of credit function, discussed above: the short term loan, getting A to market at point B, the sale is completed, the loan is repaid, and you take your profit. Well most people don’t realize that this balancing element is lost when the resource is exported.
Picture a small self sufficient economy with a healthy division of labor, everything you need is there and either you have something someone else needs or vice versa. In this situation very little money is actually needed because everyone will eventually enter into some mutually beneficial arrangement to satisfy their subsistence needs; but as the community gets larger, the supply and demand for practical reasons, can’t be immediately satisfied, so people accept credit, in lieu of the actual good or commodity, which is exactly the same function fulfilled by the responsible commercial bank described above. And because this is credit, rather than actual monetized gold, there will always be a sufficient amount of money to cover every necessary transaction and then any surplus amount is kept in individual accounts at a local bank. So the larger the area of commerce a particular amount of money will always be in circulation in the form of credit but of a short term nature - that is - it is only in circulation to fulfill a necessary transaction; and of course these varying transaction periods are overlapping as to appear continuous.
The Federalist plan (not to be confused or confounded with the Federalist Society and similar associations) was to establish this sort of system, nationally, which the Jeffersonians opposed and the anti-federalists (which today go by the name, the Federalist Society) were against altogether thinking that the size of the original colonies itself was too large; and much of this anti-federalist idiocy regrettably persists with the D-r(s) of today, most notably in the various States Rights movements.
Someone might remind these persons that we’ve had supercomputers for quite some time now and that they didn’t exist back then.
So it would seem self evident once you think about these things, with modern computing or not, that this balancing of payments doesn’t work out the same way when resources are exported - viz., the money may or may not return but the resource most likely won’t unless it is in a new form, which is a form of manufacture, foregone, by the nation of origin - e.g., the price of the finished product will always be greater than the price of the resources and materials used to manufacture or produce it.
Which goes far in explaining our massive trade losses, year after year and decade after decade since “The Reagan Revolution”
But the attitude of Romney-Ryan and for that matter the entire Republican Party is - so what - why should the middleman, the businessman, the pursuit of happiness free market entrepreneur be concerned or bothered with this? - because just like Mittney, he did whatever the law required, he paid back his loan, he paid his taxes, and now he’s off to enjoy his profit. Whoopee !! Big Government get off my back. This is the freedom and Liberty which Mittney and Ryan speak of. It brings tears to their eyes, smiles to successful faces, goose bumps to their flesh. It’s the American Dream !!
And what it essentially amounts to is “the freedom from responsibility”, and most especially the freedom from National Responsibility. But it’s so Rebel, it’s Rock n Roll, it’s Kid Rock. It’s Home Alone time and that means time to parrrrteeee !! “ask not what your country can do for you but what you can do for your country”, raspberries …
Yep, to these guys, it’s time to Party, knowing full well the result. But they keep doing the same binge over and over again, going on 100 years !! And now alas here is your opportunity (although it won’t be a fair one) to “just say no” to the GOPstapo and vote them out of government.
They will be of no benefit to you and their actions through government will only result in them carrying away more of the National Wealth to party away with; and there’s is an exclusive, crash proof, high security affair and you are not on the guest list.
So while they’re off partying with Kid Rock …
Consider this, there is no free market mechanism even alleged to exist that indicates or even directs that any commodity shall be used domestically - viz., where it’s needed by the General Population; as opposed to where it can be sold, by the private business individual, for the best price available internationally. So this “freedom” and “pursuit of [individual] happiness” bids up the price of all necessities to the people of this nation. The monied class don’t care and to a large extent neither do the bourgeoisie as long as their “economy” is booming and they can service their own private debt by robbing the monied class with business scams instead of responsible taxation; but you the filthy proletariat cog widget you either pay a higher price to business or else the commodity shall not be used for the benefit of the General Welfare. And again, the free market has no mechanism to cause the commdity to be used domestically rather than for the sole benefit of the business that exports it.
Only government can ensure that determination. The Greater Good for the Greater number, but if you don’t allow it to, then it shall all be rechannelled to the monied class so that the bourgeoisie can rat race for the trickle down.
Economics is the best use of limited resources, which in terms of US law, is for the benefit of the General Welfare. The National Community. Note the similarity in words, economics, the economy, what Romney-Ryan want you to allow them to do is not economics.
Paradoxically, these periods, which the GOPstapo longs and yearns for, haven’t much to do with anything economic either, what they have to do with is technological innovation. Note the pix in the following, particularly processed food
And the romanticism of these eras as imposed upon US also impose a post hoc ergo propter hoc fallacy, wherein the distinction between wealth and money was lost. And this loss of National Wealth Consciousness, has been multiplied and rendered worse from the time of the George Wallace Youth Alliance as assimilated into the GOPstapo via Nixon’s Southern Strategy. Consequently, any vestige of interest or even conception of Nation, was lost. Nation and Centralization are equated with Communism, Fascism and Satan. Even persons fancying themselves as revolutionaries are brainwashed with these ideas. So all that the GOPstapo cabal knows now, is that when they get their Mitt(s) on the reins of government and start selling Public assets the wealth of the nation is converted into ece(s) that they in turn spend on Luxury, opulence and parties, until the overextended credit, facilitated by deregulation and lack of enforcement, disintegrates, which we know as a recession and then they turn government over to the Democratics, again.
So in this case it was perfect for them, hand it over to the Nigra !! give Kennedy something to die happy on and then we kin really give that Nigra a good old fashion beating really”kick him around” (Revenge for Richard M. Nixon). Like it or not this is precisely what happened, following the two questionable elections of George Bush, plundering the Wealth of Our Nation with do it yourself “credit” and then the incredible shoe in election of Barack Obama after it all fell apart. There ya go boy give it your Nigra Know How.
O yeah, I forgot, it was The Revolution started on Facebook 8-|
So their standard operating procedure is to promise you all sorts of things you’ll never have unless you see it in the electronic media with some propagandist telling you how wonderful and free it is and then you feel fine just sitting there watching, largely because there is no more high pitched whining from the GOPstapo. And you’d feel just as fine right now if you turned off the propaganda and weren’t forced to rely on these social parasites for your own subsistence that’s the only thing that makes you nervous, how are you going to live; and all the while they’d be selling your assets and then? Off to Paris for Champagne, whores and other Romantic intrigue leaving you with the recession. You don’t want to tax success do you?
And it always ends the same way - a financial catastrophe that you end up paying for.
Because finance is the creation of money in the form of credit and responsible finance used to be based on real tangible assets; but beginning with the Reagan Revolution these assets were exported in the form of raw materials: clear cut the national forests, you’ll never see them, so you’ll never miss them, or just sell them for ece(s), instead of using them for the needs of the Nation. Those things exported could no longer be used as any sort of reserve asset, they could no longer be put to use in the process of National manufacturing. Creating a situation the same as if credit was based on a reserve of gold and you transferred the gold to a foreign nation. But “Americans” - largely unaware of this new arrangement - and being programmed to think of themselves as wealthy and to measure wealth or what they imagine as wealth in quantities of dollar$ …. so the tangible assets were replaced with junk - remember junk bonds? And from there? Do it yourself credit, based on junk. The private banks might as well had their own printing presses - and thus political demand causes credit to become overextended.
But tommy isn’t credit extension good? I can get a credit card and buy all kinds of shit, dress like Rolling Stone celebrities, rent Rolls Royces for my wedding, buy bling and Ho(s) !!
Ist, it becomes a battle of whom is entitled to this overextended credit, business or the proletariat.
And it is this tension which allows it to persist. The Democratics and the republicans juggle it back and forth between each other keeping it all magically suspended.
For the GOPstapo, it’s be a millionaire, you’re young, white, have a cock, just be like us, surely you’ll be a smashing success !! (the formula has been provided above) and for the Democratics it’s, own your own home, job security, health benefits; and then people eventually realize that the electronic credit entries, which their leverage is based on, cannot be converted into real wealth; and eventually OMGoddess where do I get all of this money to pay off this debt !! so 1st it’s party time, shopping, don’t worry be happy, just like the Reagan Revolution and then later on down the line, ut O. Where do i get more? If you’re business it’s the Fed or let banks make their own supply, if it’s not then get a job it’s the panacea for all of your problems and you need a raise. I need more benefits !! Fuck food I need a cell phone !!
Now if you’re poor like me you can buy stocks; but this won’t amount to anything unless you have at least $200k to play with. Are you going to borrow that much to gamble with? On what assets?
So then it is argued, use the overextended credit to give them more money to spend !!
But Mittney’s people already have that kinda loot, ece. And simply because they have it and others don’t gives it “some value”. This is the source of the argument the Democratics try to make regarding capital gains tax rates as opposed to the rate at which labor is taxed, labor, without which, business could not be built or maintained.
More edges cropped off the MSM (mainstream media) picture.
And then they, the Bourgeoisie will be bidding up prices, too, with “other peoples money” and then higher and higher levels of false representations of “value” shall be achieved, bu this is morning in America, the media is breathless, encouraging them on and on rah fucking rah; and then the wiseguys start selling things that have no real basis in value and others obsequiously buy them because it’s chic; don’t forget it’s peace and prosperity, the longest peacetime expansion in US history, it’s morning in America, play some Gershwin and buy buy buy, that is, until no one else wants to buy back from you and then there’s the “liquidity problem”, more money, more money, it’s the Gotdam Fed !! prices fall and their imagined wealth is gone.
That was the way the great stock market crash happened. Everyone bought on leverage because stock prices kept going higher and higher; but eventually a price level was reached where there were no buyers so those that were long (holding stock they promised to pay for later) couldn’t sell to cover their margins - the amount they borrowed from irresponsible commercial bankers, to buy stock, with the expectation on the part of the bankers that the borrower could easily sell the stock at a higher price than it cost when the money was lent and thus easily pay back the bank. After all, there’s no end to American capitalism, peace and prosperity, the magic of the free market, it’s like Buffalo and natural gas, just let us hydrofrack in your cellar, it’s safe. But the traders realized that the price level was unsustainable, so stock prices collapsed in the attempt to restore “liquidity” and at those lower levels, there wasn’t enough proceeds from the sales to pay back - and thus balance - the accounts. So they lost everything; but in the meantime, so did the banks which used that “market value” and “economic growth” measured in stock prices as the basis for making loans.
Nowadays they do the same thing but with other “instruments” generally unknown to the public or so archaic as to amount to the same thing.
Freedom from behind closed doors, while the mob protests against privacy. Ok we’ll ban abortion and read your email.
Towards the end of the Bill Clinton bull market, the story was, when your mailman starts asking you for stock tips, it’s time to liquidate and even then it might be too late
So Deep Down in the Trenches, where we can’t even see their feet
When we use overextended credit, we never have any buyers, except on Craig’s list or ebay.
So if you’re a worthless cog widget proletariat scum, like me, and a member of the established underclass having no stake in D-r society, you’ll notice that if you borrow money to buy some durable good, like a refrigerator or stove, and then want to sell it soon after, you’ll be lucky to get 25% of what you paid for it. We have no market way down here Deep in the Trenches, all we have is “consumer credit”, we just need things and someone names the price, which they can do, as long as there are so many abject people in “the richest nation on earth”, credit is extended to us and we pay the price.
And then if you argue “well Mister, if you can let me make installment payments to you, I can give you a price closer to what you’re asking” then the clever businessman will tell you, there you see these are the sorts of gambles we have to take !! sure, ok mr. businessman, I’ll go out and hire my own police force too or take my chances pro se in a small claims court before one of your judges. In short another high stakes poker match you got $10.00 or another one of those even less than chic affairs and you still ain’t on the guest list.
Nothing is even intended to trickle down this far, if it did, it would be a mistake like a faulty ATM machine. We’re just another forgotten generation of proletariat scum.
Just bundle us altogether as, the poor; or as in The Gilded Age, we can keep a candle burning in the wood furnace and pretend we’re warm.
So there is always an immediate conflict at the outset of every overextension of credit, which everyone ignores - that is - if a person’s purported asset is electronic it’s much easier to sell, in the well established highly liquid electronic market, than the very house you live in for shelter. This ability is referred to as liquidity. And by ignoring this very simple distinction, the concept of wealth commensurate with money is obfuscated even more.
This conflict is the sole result of government classifying everything as business and everything else as filthy rich or dirt poor. It follows the same class designations - Bourgeoisie is business, the filthy rich is “the 1%” and everything else is poor. But it’s not because we can’t buy their attention it’s because they’re Bourgeois and that’s what they believe in.
I live in my house and will most likely die in it so what difference does it make to me whether it’s valued one day at $2million or the next day at $13,500.00 either way I’ll be holding on to it until death do us part. At most, the valuation only determines how much credit a bank is willing to extend to me based on their ability to resell it, if I fail to make my payments; or how much local government is going to charge me for owning it, so they can buy a new football stadium for kids I don’t have.
This is why mortgages are bad business. In the 1st place, they shouldn’t be business at all. For one thing, they aren’t things you can play with and manipulate in the electronic market because the asset is what you live in !! and yet their values are subject to wide fluctuations. So Congress gets wise and says ok fellas no more buying stocks on margin so what do they do instead? They buy a $13,500.00 home for a $2million mortgage extended to them based on their portfolio, the bubble bursts and they owe $2million on a $13,500.00 house. Remember the adage “you can’t draw blood from a stone”?
So if credit is based on something they can’t sell, then they have to hold it, just like it was their house; and if everyone wants their money on deposit - a bank run - then those sort of assets aren’t going to help them “liquidate”. The only difference is, they can’t live in it, and no one else can either. But what about Playboy and the $2 mil he owes on his $13,500.00 house, you gonna make him a Homeless Person? We’ll market it to the moneyed class. Call it Quaint Chic, it’s retro.
The trick is to raise taxes before this happens, not on the filthy proletariat scum like me, but on those doing this mischief with other peoples’ money.
That’s what the Democratics are really getting their handkerchiefs out on, the Republicans, as usual, just don’t care. All of the bullshit they flood the media with about why taxation is a dirty communist conspiracy amounts to one thing comprised of two parts: (1) they want the government to “cut spending” on everything except war so that the moneyed class shall be fat and ripe to plunder - that is - don’t raise taxes, we want 1st dibs; and (2) the surplus money makes worthless shit marketed as chic, uber expensive, along with other things that the proletariat scum would otherwise be able to afford, but now are overpriced and relegated to the bourgeoisie and the carrion they feed on. And to them wealth is money, remember,
Wealth is production property and the ability to deliver and convert resources into useful finished products needed by National society at large; and it’s also your shelter your ability to subsist and your health. The same is true for a Nation. It’s where all of US live, Our ability to subsist and Our health as a Nation. So “ask not what your country can do for you ask what you can do for your country” that applies to the monied class and the bourgeoisie that wants to feed off them while being free from taxation and any National responsibility.
States Rights, States Rights !!
But if you really want to speak the truth regarding the Wealth of a Nation, then Nationalize all of the production property, otherwise, those things merely remain the wealth of individuals and the only National significance they have for US is whether we can afford the prices of the private sector monopoly that “owns” them or how much they’re willing to be taxed and even then how much they’re willing to allow Our government to spend on US.
Selling Public Assets to them, is like selling your furniture to live in an empty apartment.
And if you’re one of those people, here’s your chance to let me have pity for you, because as it stands, I have none.
The Proletariat side of the equation - that is - those of us that do not own production property, shall never have the means to do so because communism is proscribed, so unless it’s some crummy company stock that we have to bet our subsistence on and spend all of the rest of our free time watching and trading, well, it’s kind of like wearing costume jewelry and fancying yourself as opulent. So as long as communism is proscribed by these D-r lunatics, melting the solar icecaps with plutonium lasting thousands of years to Kill a Commie for Their Mommie - wtf were these people thinking !! but that’s what you get when you allow these assholes to run Our government and as long as such idiotic arrangments persist then we have no other choice than to rely on the powers we have vested to Our Federal government to ensure a wise and economic use of these resources for the general welfare as opposed to the surfeit of particular individuals.
That will never happen under Romney-Ryan.
Romney-Ryan have also made this big drama/issue regarding “if you build a business you built that business” and that fits nicely into their White Supremacist outlook on life and humanity - e.g., slaves didn’t build the south, the planatation owners did.
So maybe that mentality could be brought into existence by an appropriate photo op for you Mittney. You and Pauli can go down South maybe to Old McConnell ville Kentucky, and Mitchy can show you around and you and Pauli can explain to the Public at large about how those planatation owners built up their business and their slave population.
And when you think about this for a while, you begin to realize that this actually is their genuine view and most especially how they look at labor. You’re not being honest about this Mittney.
Kisses and caresses.