Obama takes on Wall Street? Pt.3

Paul Jay and Gerald Epstein discuss solutions to existing disconnect between capital and real economy.

Category:

News & Politics

Tags:

• Obama
• Wall street
• economy
• economy solution

[Rolandzebub]

One of the major problems we need to recognize is that the economy is not broken, it is working as it was designed to. The bubble economy is designed to transfer wealth to a new permanent class of rentier plutocrats. It is designed to to drive Labor value to zero. It is designed to enslave almost everyone in debt peonage. That is why there is no talk of raising wages of living standards, nor will there be. I agree that trying to appeal with reason to such a dumbed-down populace is futile.

[kmarinas86]

@battim

Democracy is simply a euphemism for a government run by lobbyists. As soon as you can pay to advertise your position and pay your politician to favor them, democracy becomes little more than a fanciful illusion. If you can enforce a rule that say this can't happen even if the majority supports this, that's not democracy either. People cannot and will not restrain themselves from spending their unequal time (money) from influencing the policy makers.

[TristanPEJ]

there's a bit of audio issues in this one, might want to play with your compressor settings

[bbburton]

It always amazes me when someone with an apparent lack of education comments on what I've said. Take you for instance. What other economic systems around the world do you refer to? Here's the rub. If the elites manage the economy, don't you think that they would also control the gov? By your reckoning, a gov economy is nothing more than an elite economy. A free market, on the other hand, doesn't rely on elites or a gov to function. Rubes like you just don't get it.

[sinekonata]

No man I didn't say these euro zone countries have a public central bank I did say they all have state owned banks i.e. controlled by govs, allocating priority funds to regional institutional dev and guaranteeing safe investments. Even when the economy isn't that good, as in Russia, Serbia, Algeria or India, those public banks still serve their purposes as development tools and are probably not the cause for having bad shaped econ.

And dude gov banks profit long term dev and in general: people.

[Rolandzebub]

For more check out Gerald Celente, Max Keiser, and Daniel Estulin. Executive Intelligence Review is also useful, if you can tolerate the Larouche rhetoric. That should get you started.

[battim]

Ireland france sweden portugal all use the eurp. The currency is controlled by central bank of eu. Iceland russia and serbia are economic wastelands. If that's what you think is the model to go with........lol. my question was rheotrical places that have them are a worse mess that ones that do not

[sinekonata]

Man, they didn't ban mosques (that would be very very fussy), they just banned building new minarets on them (idiots arguing it's a Muslim dominance sign).

Also, this was a constitutional amendment, it wouldn't normally be allowed to make such decisions in countries with stronger constitution.

And I don't like it either but that's how democracy works, power to people/majority...

Plus that problem can be solved with better education as it was a campaign led by the fascist wing of the country.

[sinekonata]

I'm not talking about the EU (as it leans towards an US economic system) I'm talking about european countries public banks.

Belgium (my country), France, Ireland, Sweden, Portugal, Switzerland, Iceland, Serbia, Russia all have nationalized banks. Japan, China, India, Algeria and New Zealand too have Public Banks. It looks like Venezuela and Cuba are the only Americans in the case though : (...

Btw when you say it is true in Venezuela you've pretty much answered your own question: "where?"

[NicosNicosNicosNicos]

Yes, the majority there voted against the Muslim minority's right to have places of worship. for example...

[sinekonata]

I can't believe that someone from the US would say that, I'm pretty happy about it.

Here in Belgium the anti-economic-growth movement is growing faster due to global warming and recession.

[sinekonata]

an easy way to establish true democracy would be a referendum system.

The problem that people often don't vote in their best interest (as they're lied to everyday by medias) would remain but still it would be a progress...

I believe they have a lot of referendums in Switzerland.