Fiddling while the global economy burns

Distraction therapy often works; when a child falls and grazes their knee, distraction will often make them forget the pain and move on. However, pain is often a useful indicator of a much deeper malaise and ignoring pain can have fatal consequences - the development of a tumour for example. The cancer analogy when discussing economics is apt because we have at least one economa eating away at the political economy; it corrupts, distorts and will soon collapse our economy.

The Collapse Of The Western Fiat Monetary System May Have Begun by Peter Koenig
It is no secret, the western dollar-led fiat monetary system is on its last leg – as eventually any Ponzi scheme will be. What does ‘fiat’ mean? It is money created out of thin air. It has no backing whatsoever; not gold, not even the economic output generated by the country or countries issuing the money, i.e. the United States of America and Europe. It is simply declared “legal tender’’ by Government decree.
No pyramid scheme is sustainable in the long run and eventually will collapse. It was invented and is used by a small invisible upper crest of elite making insane amounts of profit on the back of the 99% of us. Since these elitists are in control of the media with their lie propaganda, as well as the warmongering killing machine, US armed forces, NATO, combined with the international security and spy apparatus, CIA, MI6, Mossad, DGSE, the German Federal Intelligence Service (BND) and more, we are powerless – but powerless only as long as we ignore what’s really going on behind the curtain.

Meanwhile, false prophets and charlatans create the illusion of competence and probity among central bankers and policy makers, not least by using contrived complexity to obscure what's really going on: theft and fraud - migrating yet more wealth and power to the Structural Elite who foster and promote this pseudo-science while alchemists of double entry book keeping hide the deceit.

The new astrology by Alan Jay Levinovitz
By fetishising mathematical models, economists turned economics into a highly paid pseudoscience

While the dark art of money is the biggest obstacle to change, there is a deeper flaw related to the denial of access to land and the commons, and consequently the means to life. Henry George revealed in Progress and Poverty the corrosive nature of land capture for private gain and yet we've failed to learn over successive booms and busts how property speculation causes so much pain and hardship.

How land barons, industrialists and bankers corrupted economics
The so-called discipline of economics has been systematically corrupted in two major ways: first to get rid of the word ‘land’ from the very language of economics and second to downplay, omit or misrepresent any discussion of the words ‘credit’, ‘banking’ and ‘money’. They shamelessly describe banks as intermediaries when they know this is a minor function and that bank’s major function is money creation.

This critique of economics wouldn't be complete without reference to citizens dividend. If we insist on the means to life being conditional on paid employment, and labour priced according to supply and demand, then growing numbers will become destitute. No-one is immune from having their job or profession automated and as the jobs disappear, competition for the means to life will only become more acute. We must disconnect the means to life from paid employment.


0 #3 Janos Abel 2016-04-25 21:45
"...providing breathing space to build a better political economy, ie. dealing with the other elements..."

John Courtneidge has a good outline in "co-operative socialism" as a first iteration model of what could replace capitalism fairly rapidly--- using the leverage provided by the achieved Citizen's Dividend reform.
0 #2 Clive Menzies 2016-04-25 17:23
Agreed. Although the Gaffney, Harrison book seems to have missed this vital element.

The beauty/irony of Citizens Dividend is that it would help stave off collapse for a while longer (through the creation of demand) thereby providing breathing space to build a better political economy, ie. dealing with the other elements.

it would free up thought and resources to apply to the task.
0 #1 Janos Abel 2016-04-25 17:09
A vital question is, "which battle to choose?"

The one for Citizen's Dividend, mention in the last paragraph gets my vote (see also a comment at ).
Without winning this we can only fight with our hands tied.
Here is a semantic or conceptual problem , though: how do we untie our hands when our hands are tied? What is the solution to this Zen-like puzzle?

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