The US empire is evil and the news media are lying to you and China is not your enemy and neither is Russia and nuclear brinkmanship is insane and sanctions are murder and we're slaughtering kids in Yemen and capitalism is killing us and enlightenment is real and peace is possible.
Actually, That Was America: Notes From The Edge Of The Narrative Matrix - Caitlin’s Newsletter (substack.com) – May 6, 2020
I think the conversation has to go much deeper into causes and effects. Yes, it is evident the US empire is based on military possibilities arising from the industrial recovery of WW2, from the great depression, into a colonial world that had destroyed itself, in that war. Rather than real economic expansion, that drive prior empires. Yet I think the mechanism of capitalism has to be considered.
People are linear, goal oriented creatures in a cyclical, circular, feedback driven reality, so while markets need money to circulate, people see it as the signal to extract and store.
Given money functions as a contract, where the asset is backed by a debt, storing the asset requires generating similar amounts of debt. Other than the entire economy evolving to create debt and thus the illusion of wealth, the debtor of last resort has become the government. Wall Street could not function, without the government siphoning up trillions in surplus investment money. The military and subsequent wars really are just burn pit, to make it go way, so more can be borrowed. Which would explain why those responsible for such ineptitude and waste are not court marshaled, but are rewarded.
The Federal deficit began with the New Deal, so not only was Roosevelt putting unemployed labor back to work, but unemployed capital, as well.
Paul Volcker didn't cure stagflation with higher interest rates, as that squeezed funds to those willing to borrow and potentially grow the economy and the need for money. It was Reaganomics, borrowing out surpluses of excess money and spending them in ways which didn't compete with private sector investment, such as a bloated military, while giving the private sector more to invest in.
Econ 101 says money is both medium of exchange and store of value, yet a medium is dynamic, while a store is static. For example, blood is a medium, fat is a store. The functionality of money is its fungibility. We own it like we own the section of road we are using, or the fluids passing through our bodies. It is a quintessential public utility, like roads, and needs to be treated as such.
There simply isn't the investment potential for everyone to save the amounts necessary, but we do save for many of the same reasons, so the concept of the public commons will eventually have to be resurrected. After the current system well and truly crashes.
This isn't socialism, in the sense the state owns everything. Like a house has family and personal spaces, society needs both public and private properties.
There was a time when government, as the executive and regulatory function, aka, the nervous system of society, was private, but as monarchs lost sight of their purpose, they were usurped. Now banking, as the equivalent of blood and the circulation system, is having its own, "Let them eat cake." moment.
Which is not to say banking should be a direct function of government. Like the head and heart, they are different organs, seeing different functions. Politicians live and die on the hope they inspire and people experience money as quantified hope, there is a strong tendency to go for the sugar rush of excess money and leave the hangover for someone else to clean up.
Store value in strong communities and healthy environments, not a metastatic financial system.
Beautiful; prescient and timely piece of Wordcraft. The way Things are, it shall Fall on deaf ears.We're All -"along for the Ride".The Congressional Tweeds are complacently living in another "world". American Military families will be the first to feel the sting of a betrayal of (unfounded) Trust, moral bankruptcy of the 'Inside Enemy' that Cicero spoke of and'The Unseen Hand'.
Repeat:
The US empire is evil and the news media are lying to you and China is not your enemy and neither is Russia and nuclear brinkmanship is insane and sanctions are murder and we're slaughtering kids in Yemen and capitalism is killing us and enlightenment is real and peace is possible.
Actually, That Was America: Notes From The Edge Of The Narrative Matrix - Caitlin’s Newsletter (substack.com) – May 6, 2020
Greatly appreciate your comment. Caitlin is certainly a force of nature.
I think the conversation has to go much deeper into causes and effects. Yes, it is evident the US empire is based on military possibilities arising from the industrial recovery of WW2, from the great depression, into a colonial world that had destroyed itself, in that war. Rather than real economic expansion, that drive prior empires. Yet I think the mechanism of capitalism has to be considered.
People are linear, goal oriented creatures in a cyclical, circular, feedback driven reality, so while markets need money to circulate, people see it as the signal to extract and store.
Given money functions as a contract, where the asset is backed by a debt, storing the asset requires generating similar amounts of debt. Other than the entire economy evolving to create debt and thus the illusion of wealth, the debtor of last resort has become the government. Wall Street could not function, without the government siphoning up trillions in surplus investment money. The military and subsequent wars really are just burn pit, to make it go way, so more can be borrowed. Which would explain why those responsible for such ineptitude and waste are not court marshaled, but are rewarded.
The Federal deficit began with the New Deal, so not only was Roosevelt putting unemployed labor back to work, but unemployed capital, as well.
Paul Volcker didn't cure stagflation with higher interest rates, as that squeezed funds to those willing to borrow and potentially grow the economy and the need for money. It was Reaganomics, borrowing out surpluses of excess money and spending them in ways which didn't compete with private sector investment, such as a bloated military, while giving the private sector more to invest in.
Econ 101 says money is both medium of exchange and store of value, yet a medium is dynamic, while a store is static. For example, blood is a medium, fat is a store. The functionality of money is its fungibility. We own it like we own the section of road we are using, or the fluids passing through our bodies. It is a quintessential public utility, like roads, and needs to be treated as such.
There simply isn't the investment potential for everyone to save the amounts necessary, but we do save for many of the same reasons, so the concept of the public commons will eventually have to be resurrected. After the current system well and truly crashes.
This isn't socialism, in the sense the state owns everything. Like a house has family and personal spaces, society needs both public and private properties.
There was a time when government, as the executive and regulatory function, aka, the nervous system of society, was private, but as monarchs lost sight of their purpose, they were usurped. Now banking, as the equivalent of blood and the circulation system, is having its own, "Let them eat cake." moment.
Which is not to say banking should be a direct function of government. Like the head and heart, they are different organs, seeing different functions. Politicians live and die on the hope they inspire and people experience money as quantified hope, there is a strong tendency to go for the sugar rush of excess money and leave the hangover for someone else to clean up.
Store value in strong communities and healthy environments, not a metastatic financial system.
Beautiful; prescient and timely piece of Wordcraft. The way Things are, it shall Fall on deaf ears.We're All -"along for the Ride".The Congressional Tweeds are complacently living in another "world". American Military families will be the first to feel the sting of a betrayal of (unfounded) Trust, moral bankruptcy of the 'Inside Enemy' that Cicero spoke of and'The Unseen Hand'.
You see, Patrick, I'm not the only one. Otherwise, excellent job gentlemen. My only comment, congratulations.
Thank you, Tony! Comments deleted as requested. Cheers.
Cari MariAnna, Thanks. It is a truly important and excellently written article. Tony Kevin.