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  • Science and technology has made a WORLD of plenty in harmony a reality, however the dominant minority interest has created the MARKET MECHANISM OF ARTIFICIAL SCARCITY and THE WAGE SLAVERY of the working men and women for the abstract process of capital accumulation and concentration. If you can not comprehend these few words then your life journey is utter waste and distortion. A democratic majority political movement to transcend the dehumanising power structrues.

  • The financial serfdom of the working class in the employment system of wage slavery is the historic evolution of private property relationship of exploitation,alienation and suffering of our common humanity. World capitalism is destructive,dehumanising and the tyrannical rule of the pathologically sick tendencies of the reptilian elite. A majority democratic movement to transcend MONETARISM for a world of cooperation for our common needs and well being.

  • Fear is the energetic vibration of humanity shackled in wage slavery for the private gain of a few. This politically manipulated market mechanism, this web of monetary control is the historic evolution of the private property relationship a of alienation. Capitalism is the template of the reptillian brain cold,hostile,competative­,egot­­­­istical. For humanity to evolve and transend this horrors of dehumanisation we need to Share the Earth in cooperation for our common needs and well being

  • Oh dear, I don't speak cantonese. No subtitles?

  • @suddenlyitsobvious He's Korean, so good job there. He isn't that hard to understand.

  • @jethromoney36

    Yes, of course, silly of me; I forgot how similar Korean and Cantonese are.你識唔識講廣東話呀?

  • I love Dr. Chang's work. But he would benefit immensely from an accent reduction program.

  • I don't know why but I love his accent.

  • Joon is the guy to own Milton Friedman's ass

  • He's criticizing Fascism & Corporatism... not Capitalism

  • He sounds like an asian Marc Faber

  • He says in the same phrase that neoliberals like both central banks and free-market (ca. 2:45 - 3:05 )

  • first off I offer no solution im pointing out the issue of laissez faire in a global economy you have yet to tell me how free trade is the solution to our huge trade deficit with present day conditions you are simply saying government make way for globalism and wth do u mean solving trade barrier with regulation they are essentially the same thing

  • you go back to 1920s cept we had an actual manufacturing base back then we no longer have that so in fact we cant be competitive cause these free trade agreements managed to destroy our manufacturing base and like I said before its not free trade when china is manipulating their currency to such a great extent and $6.00 is still over 6 times that of china

  • can anyone actually understand this fucking mexican?

  • @ILIKESFLAN

    You ****ing ignorant arrogant ***hole, this guy is a Korean-born economist (so what if he was Mexican but you must be a super-idiot to think he's a Mexican) and he is more knowledgeable than you will ever be.

  • @optimistsRUS I don't give a shit which part of mexico he is from

    if he's so smart, he should learn english.

  • Telling foreign central banks what to set their interest rates at, and how to run their budget has NOTHING to do with free markets.

    This guy is mixing up a whole heap of problems, putting a blanket over them and then saying: "there you go, this shows free markets don't work".

    This is a very poor argument.

  • @LibertyDownUnder Free market capitalism doesn't work when it comes to globalism free market would dictate that americans will buys good made in china using slave labor as opposed to good in america free market would dictate shipping jobs offshore to philipines and india cause its cheaper fact is you cant really have free market capitalism in a global scale cause its not Fair the only way it we would be able to compete is if we drive down the labor cost in the us to that of a 3rd world country

  • @Ventorez, I disagree. John Stossel explains it in this 6 min video:

    /watch?v=0VaHmgoB10E

    What do you think about it?

  • @LibertyDownUnder obviously u have completely missed my point I dont care how much we exploit those outside of the US it could be blood shops for all i care the issue is competition how do our manufacturers compete against sweatshops

  • @Ventorez, if a business moves overseas because it cannot find workers that can compete with the Chinese, that's fine. It means that employment % is high and people don't need low paying jobs.

    But if they're moving becuase labour unions and government departments force them to raise wages and provide more benefits, making them uncompetitive - then you get unemployment.

    With benefits, union GM workers in detroit cost $50 - $70 / hour (NY Times). You can't compete with Toyota like that.

  • @LibertyDownUnder cept you are missing one important factor currency manipulation the labor cost difference is not only due to our high standards compared to other countries but arguably the artificially low chinese currency which plays into central bank policies

  • @Ventorez, I agree, the Chinese central bank does play a role here.

    But for the US to try and combat this with more protectionism will cause even more damage.

    By keeping the Yuan low, the Chines are keeping their citizens artificially poorer and therefore willing to work for less.

    If the US tried the same, which is called 'competitive devaluation', it will benefit exporters but hurt pensioners and others who depend on their savings.

    In the long term, it's a "lose-lose situation" for everyone.

  • @LibertyDownUnder

    Did you just honestly try and discredit methods of protectionism?

    Did you know that America was the worlds premier protectionist country from its inception until the modern age? Did you also know that is what made the U.S. a very very wealthy and independent state?

    You honestly think that not imposing tariffs on goods imported at completely impossible-to-match prices is bad for our economy?

  • @voidborn, yes, the US has protectionism but that isn't proof that this contributes to economic growth or to a higher standard of living.

    If I taxed your groceries at 50% I'm sure you'll work harder, maybe even grow your own food, and be less likely to be unemployed, but this won't mean you're better off.

    The idea behind free trade is focusing on what you do best.

    E.g. Brazil grows lots of coffee beans, US makes lot of wheat, they can trade freely.

    Imposing tarrifs will hurt both sides.

  • @LibertyDownUnder

    If I taxed your groceries at 50% I'm sure you'll work harder, maybe even grow your own food, and be less likely to be unemployed, but this won't mean you're better off.

    wtf does this even mean

    PLEASE get someone to proofread before you post.

    You act like there's going to be a proportionate response outright. You must also not even give a shit that America imports much more than it exports.

  • @voidborn, I'll clarify.

    You "import" your groceries from the supermarket when you shop there.

    The US imports food & other products.

    Making your shopping more expensive will make you work harder or maybe grow your own food, but won't mean you are better off.

    Protectionism does actually attract proportionate retalliation from trading partners. This happened in the great depression on a global scale.

  • @LibertyDownUnder

    You don't import goods from the supermarket. The suppliers of the supermarkets import from extrajudicial areas that can not be directly taxed for their work, as a method to actually be able to tax the goods; creating a fair market value for that price based on supply and demand of goods currently produced within the country.

    I assume you simplify the situation so that you brain can understand it, ultimately diluting the meaning of what actually occurs.

  • How do you keep churning out this retardation?

    America was a production based economy around the time in question. This fact alone simply renders what you have applied to the situation MOOT.

    America is a SERVICE ECONOMY. Drink that shit in cause here's where it gets complicated. WE IMPORT MORE THAN WE EXPORT. Our money is made via services. Services can NOT BE TAXED REALISTICALLY. Therefore protectionism is in our BEST INTERESTS at the current moment.

  • @voidborn, not reading your insults anymore.

  • @LibertyDownUnder

    Don't be angry over your simplistic view of American economics. Shit's advanced.

  • @LibertyDownUnder

    I'll simplify what I meant by services not realistically being taxed so you can understand. Services can not be quantified and therefore can not be truly measured. This gives us, believe it or not, a complete and utter edge over producing nations if we flex our protectionism.

  • @LibertyDownUnder

    Or that free trade doesn't hurt the American producer? Do you think that NAFTA is just a stepping stone to a greater tomorrow?

    I bet you'll try and tout the merits of trickle down economics while you're at it.

    I really want you to walk up to some Norwegian economist and tell them that protectionism doesn't benefit a state, just so they can laugh right in your face.

    The one thing in life that I find deeply infuriating is stupidity, a trait you have IN SPADES.

  • @voidborn, these rules may benefit the US producers but at what cost?

    If other countries retaliate, then other US producers who could have exported meat, cars, industrial equipment etc will be hurt.

    Overall the economy is worse off this way.

    Norway has huge oil reserves and it's hard to compare it to the US. You could argue Saudi Arabia's system is a good one too based on how much money they've got.

    Protectionism MAY benefit some people, but the overall cost is usually greater than the benefit

  • @LibertyDownUnder you talk of rules cept china isnt playing by the rules japan was willing to reevaluate their currency back in the 90s ofc that caused their economy to be stagnant for 20 years fact is there are plenty of other countries we can trade with those who arent trying to undermine us with open economic warfare

  • @Ventorez, I answered you earlier about China.

    Japan is another example of Government interventionism gone wrong. They bailed out their banks, lowered interest rates and tried to regulate their economy.

    Sound familiar?

  • @LibertyDownUnder no its the plaza accord that caused japans economy to stop growing after the plaza accord within 2 years the exchange rate value of the dollar verse the yen dropped 50% causing massive deflation in japan what japan did was simply a reaction the plaza accord trying to control the damage

  • @Ventorez, so big Governments mess up Japan's economy with the Plaza accord, and the Japanese Government actions make it worse for 20 years straight, with no recovery in sight.

    Is this a case for free markets or against it?

  • @LibertyDownUnder lol once again this is a response to japans currency manipulation fact is you cant have laissez faire because people dont play by laissez faire so the notion that you will play fairly against someone whose cheating is just stupidity and has no grounds in a global economy

  • @Ventorez, Governments created the problem, and then made it worse when they tried to solve it. How is this an argument AGAINST laissez faire?

    You are right that other countries' monetary problems can create local problems, but why do you assume Governments can fix these problems with more regulation?

    I believe these issues should be dealth with through education and diplomacy, not through tarriffs and restrictions.

  • @LibertyDownUnder cause u cant expect all economies to play fairly hell america has never played fairly this is why we have regulations in the first place cause we dont play fair in any instance hell if everyone had open free trade without any kinda manipulation that would be great but thats the thinking of an ideologue which is exactly what hes talking you cant have free trade unless you have fair trade and how would education be the solution and you forget diplomacy is done by the government

  • @Ventorez, I agree with your analysis of the problem but not with your solution.

    Chile's problems were solved with education and diplomacy, mostly by Milton Friedman. To some degree Argentina was helped with this too, Rwanda, Botswana, New Zealand, Australia, China and many more. None of these are perfect examples obviously, but free trade via diplomacy helped them.

    Can you give me an example when trade barrier issues were solved with regulation?

  • @LibertyDownUnder

    Ok, so you're from Australia and you're trying to tell two Americans what's good for them, right?

    Who do you even think you are? You think you're an expert in American history and that you can dictate what's best for America in the global marketplace? You should stick to Australian economics and give horrible advice in regards to limited government rather than trying to interject into the business of a country you don't even belong to.

  • @LibertyDownUnder

    Let me be the one to school you on American history, something I am adept in due to my AMERICAN schooling. I encourage you to share this information with your criminal friends.

    Go to wikipedia and search for protectionism, then navigate down a short distance and read "Protectionism in the United States".

    Read it and weep.

    I suppose that amassing 10 times the GDP of the south was the wrong thing for the north to do, wasn't it? PROTECTIONISM MADE US RICH AS HELL.

  • @LibertyDownUnder , Answers THE YES Men.

  • @LibertyDownUnder so you dont advocate inflation nor do you advocate protectionism so then what? bring wages down to $0.90 an hour? let all manufacturing jobs to go to china? whats the solution here in your mind

  • @Ventorez, my solution is to remove excessive regulations, trade barriers and tarriffs, cut Government spending and taxes, then let the free market compete.

    Obviously American companies won't get workers for 90c an hour but they may get them for $6. Might sound unfair in the short term, but I'd rather that than to be unemployed.

    If you have a bit of time, Tom Woods explains how this was done in 1920:

    /watch?v=czcUmnsprQI

    Not so much about tarriffs but about Government spending & taxes.

  • Neo-liberalism is a false doctrine with its free-trade, globalism, offshoring, and outsourcing.

  • she's hot

  • Thanks for uploading. very interesting book

  • Ohhhhh shut the fuck up.

  • I own his book and it is eye opening. He explains it very well in print and people should give it a read. The book sheds light on globalization and the hypocrisy of the policies of the WTO, IMF, etc.

  • @TheBigHo111 A moneyless,classless,stateless communities of humanity expressing our freedom in creative harmonious cooperation for a world that is so POTENTIALLY AND ACTUALLY nourishing. Capitalism in any form, Statist or Corporatist is the denial of our common humanity in a politically manipulated, tyrannical , armed MARKET SYSYTEM OF ARTIFICIAL SARCITY and distortions that is designed to perpetuate the enslavement of the working class for material interest of the criminal ruling elite.

  • Capitalism and Communism focus on the same thing self interest.

    The difference is that when the poor ask for their share and have their self interest at heart it is called communism and the greed of the poor, whilst the rich horde 95% of the wealth.

    I am no communist but I will be looking after my self and my family and nations interest so call that what ever you will!

  • Why is Amy Goodman a disgrace, this is the first I've heard of her so forgive my ignorance, I am English.

  • Instead of asking people to forgive your ignorance, why didn't you do a search on her name? That's what the internet is for!

  • @infokemp She is not a disgrace. Her newshow "DemocracyNow!" is a great news program. Its everyday mon-fri.

  • @Ermal8711 Thanks for the info - I now regularly watch Democracy now, good show.

    All the best

    David

  • Thank you for uploading this.

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