“The Capitalistic Culture Making Crony Capitalism Worse”,
Of the most misinformations that the public possess is the lack of knowledge or the will to learn, such examples are “Democracy versus Communism” “Capitalism versus Socialism” “Heroes versus Villains” a society so consumed with consumption, willing to accept propaganda as ways and means of life, a society so deeply rooted with an ancient European colonial social and political theology, NOT willing to see beyond a day’s moment.
Michael Hudson’s book only scratches the surface of how the “Wild Wild West” has come to believe and accept this modern day lifestyle, a society so attuned to refusal to consider anything, abdicating to faith that somehow voluntary cooperation will solve every problem, falsely assuming that the duty to think is an exercise in central planning. Or one must have a master to manage a living standard, that somehow the masters would fulfill every wishlist so that they may continue their wishful thinking ways.
A society consumed with self indulgence and the lack of will to see no further then a Christmas sale madness and that true love comes once a year, wrapped in a box of candy and red flowers on “Saint Valentine day”, and when all fails the wishful thinkers presume as if the band of marauders who seek to pillage others under the fiction of society will step right to the plate and fix it all.
“Capitalism”, was adopted as part of a consistent program to instructionalize private property, is not a “value-free” social arrangement. Adoption of a such program would immediately signify the elimination of public goods, which alone would create a radically culture unlike anything that has come before it. Before it’s adoption, proponents of this new society are obligated to describe what’s in store, “You’d Think”.
Culture is defined as shared values. Therefore, using this definition we can speak with validity about any culture, right? Like the “Democratic Culture”, “Periclean Athens”, “The Romans”, If all of them had some set of shared values, probably would be the set defined by the idea of frontier. For each person claiming his culture in some sense, has the values represented by the idea of frontier would represent a wider or smaller circle of influence upon his other values.
The destruction of the moral pretenses of the state is irreducible first step toward the realization of capitalistic culture. The comic and satirist will find the state is provider of lifelong support in a way that it did not intend. The next step, aleardy in progress is to legitimize the peaceful secessionist movement.
So in brief “Clarifying some of the simplest propagated misunderstandings and terms quoted in “Killing the Host” overlooked or not understood by the general public”.
1), The utmost manipulation method to reduce savings and create debt is, to deny investment gratuity or “investment interest” as is called, in other words when public savings deposits do not yield a profitable return, the investors (depositors) look to other sources to profit from their investments., real estate, etc. or inflatable items as Currency exchange (Paper Money), Gold and Stock Markets, all high risk and manipulated.
2), The misconception of Gold investments is; Gold investment is not in actual gold and rather in paper, as it is illegal to actually obtain “Gold Bullion” or Gold Bricks. Refined “Gold Jewelry” is not considered a trading investment, rather a personal property possession (collection) such as art, diamond, etc. therefor Gold is considered one of the riskiest trades.
3), In the Western capitalistic Hemisphere “middle class” is mostly accompanied by an income ratio and dollar amount figure, where as in most other societies, a middle class figure is recognized and measured by ones cultural values, societal contributions and with one’s intellectual values, and in one’s living years, a perspective unfamiliar to the present day American middle class.
4), In today financial universe “Paper Money” (a promissory note) with a zero evaluation is constantly devalued to control and manipulate or maintain the economic markets, Banks and Government trade transactions are all based on one’s credit ratings, highly controlled and manipulated by the same entities.
5), “Junk-Bonds” are low investment promissory notes or below the market value investment notes” mostly traded among Governments and larger financial institutions.
“United Airlines” financial crisis caused a in-volunteer employee takeover to avoid bankruptcy, which in reality meant the “few and proud” major shareholders forced the small investor shareholders to finance the airline’s finances by using their company stocks and shares as collateral to avoid bankruptcy, thus giving up all their personal investments (company promissory notes, dividends, pensions, and 401k), And within 18 months the majority of the original top brass few took over their original management positions with lavish bonuses, a theft by any means.
6), “Debt leveraging” is borrowing when real debt is greater then loan value, however the borrower uses speculated future value to leverage the borrowed amount (like gross net versus net worth) in other words, borrowing on future probabilities, such was the Bush era real estate lending method, borrowing even when one owed more then their collateral, or based on “evaluative speculation”.
Example; A property valued at $100k and a $100k loan amount may borrow a projected X amount of additional money if the borrower can show his property will appreciate enough to offset the additional loan amount risk, say in 10 years?
7), Subsidize or “social services” or financial welfare program is to help ease and maintain cost of living and to offset higher cost of living for the under privileged, similar to that of Socialistic Government subsidies.
8), “Minimum Wage” when originally established was to make businesses render for labor service no less than a set minimum, however, since its institution it has been modified and no longer serves to the best interest of the labor force, because it does not factor in “cost of living ratio versus income earned”. Furthering the argument, it generally holds back income progression advances.
9), Rentier rent (tax) also known as Economic Rent is a form of business and occupation tax where it derives from items such as land property (rent value) or equipment such as furniture, etc. which is considered to assist with a business’s operation, though, depreciable but non perishable, Example; Pierce County has 0.3/4 of 1 percent surcharge tax of all business equipment, furniture, computer, etc.
The United States landmass is approximately 2.27 billion acres and the US Government “OWNS” 247.3 million acres or 28% of all the US public landmass and also manages (BLM) an additional 700 million acres including recreational land. “Public Domain” a law implemented mainly during Harry S. Truman’s presidency (1947), thus, the Gov. became the largest land owner in the US with rights to sell.
10), The “IMF” when lending money to sovereign nations requires promissory guarantees of either ones natural resources or land grab &/or actual Gold/Silver bullion deposits, furthermore the public domain laws come to effect in case of default. Greece, used 3 of its islands as collateral. Though, Palestine is an occupied territory, Israel uses the public domain law to annex Palestinian lands, and taxing its people.
11), “Usury” an unreasonable method of high interest lending, similar to that of payday loan. Though an illegal act of lending, is a method used in short term loan called “hard money” (a lending practice used in both manufacturing and agriculture).
12), In the US the average heiress is taxed about 51% as capital gains, unless otherwise one can show proof of actual investment in the heiress for at least 7 years prior to inheritance. Furthermore, though a royalty gratuity (dividend) is required for the real estate “mineral interest” (conveyance or reservation law), however, land owners are responsible for mineral developments. And any mineral stakes claimer has 1st development rights to all below surface minerals, a geological mineral law, or “the property rights of resource” as is called.
Russia’s Mikhail Gorbachev was granted $40 billion dollars in cash loans through IMF during Ronald Regan’s presidency which was guaranteed by “The Flight Capital” lending rules. Contrary to the US financial sanctions, unlike Russia Iran passed a law requiring its nation’s oligarchs to deposit 90% of all their earnings in Iranian banks and invest a minimum of 70% of all earnings at home, furthermore, the Government uses bartering (goods for goods) to offset US imposed sanctions and cash shortage.
And why am I not surprised of the New York Times free “Twinkies” giveaway article, perhaps Donald Trump said it best, repeatedly boasting how he legally skipped paying nearly a billion dollar in income tax, therefore there should be no surprise either that at the end, Mikhail Gorbachev was rewarded a $5 million dollar townhouse in Upper Manhattan New York, plus an annual retirement allotment so he may reside among his masters, as the article did say, “the rich get richer”.
Today the magnitude of wealth is not due to investment skills but to the enormous growth of credit and money printing that the world has experienced since the creation of the Fed “1913”. This has caused a global explosion in asset values of unparalleled proportions. As New York Times defiantly describes the “Private Equity” (loosely affiliated investment strategies) how corporations are allowed to lavishly “Twinkle” all the way to the bank.
And finally, “Exactions”, an American real estate law that allows the Government to enforce development of a parcel of land as deemed, which requires another’s land for its projects, such as energy sector, minerals and geophysics (natural science) or civility (railroad, road and highways), improvements. “See North Dakota”.
Furthermore, during the discussion there were remarks floating regarding the author’s writing skills and errors as well as grammar editing and the accusations referring to a presumptive and confused society, which is another example how we all wish to fix the world’s problems while continue with our own contribution to the demise.
Overall Michael Hudson’s attempt was to stimulate our passionate thinking with some ration, however, the system that operates the world today has no true “an independent leader”, thus it may not be as repairable as one may presume.
I believe that we are the “stagehands” and the subservient of the state, and the only way to revert the wrong is by “non participation”, which we won’t, in other reality words, will a society of fiction that stampedes to rush those department store holiday SKU’s have the will to abstain from the madness? I didn’t think so”.