Tapsearch Com EditorFinancialization and oil money standard running on empty
June 24th 2008 20:44
Bizarre Politics Reports:
Financialism and oil money standard
By Ray Tapajna, editor and artist at Tapart News and Art that Talks
As we noted in our last post, money is the product of a dysfunctional global economy. It is like a transformer toy that is running out of functions to convert values.
We were going to review Kevin Phillips 's book Bad Money which is an excellent analysis of the financial world we now live in. However, like so many other good books the priority of labor and work is still ignored. We tell about this at our The Rationale site coining the phrase
work and labor the stepchildren of philosophy and religion - link.
Also as we have noted before, Globalists and Free Traders use Adam Smith to defend their dysfunctional global economy but ignore the fact that Adam Smith held labor and work as something sacred and the core of society - the very essence of any economy.
Ben Stein of TV humor and politics, describes more about the dysfunctional global economy.
He says, we borrow money from China, use the loan to give Americans economic stimulus money which they use to buy Chinese products. We call it a global economy but the trade deficit proves the money only travels one way with the elite funneling profits outside of any real economy. The holes in our economy are like swiss cheese. Some of sages of old tell us to pity a nation which does not make the things they use for soon they will be under the power of the ones who do. This is the reality of so called Free Trade that moved U.S. production and factories outside the USA.
Kevin Phillips goes into this deeply citing the financialization of our economy which can survive on "funny money". Without making our own products, financial tools with oil as the money standard runs the show. The Globalists are trying to just make money on money with debt being one of the products. Oil has replaced the gold standard but oil money is based on speculation and manipulation and does not stand a chance of providing any real money standard.
Instead we have ruptured local value added economies with no power to recyle itself. We once enjoyed local value added economies that added real values from raw product to the retail leven in about 5 stages up and down. This has never happened before in U.S. history. Now after twenty years, there is a vast new working poor class that is finding it even difficult to buy the cheaper imports. Many of retail workers who make up a large part of the economy need government assistance to survive economically.
Kevin Phillips's book is a good resource for all who want to digest the financialization process of our economy but still there is no one who speaks for the workers who are the core of any economy. Instead, we get the educated language of economic statistics without any real meaning. One of the first leaders of our time who came up from the working class was Lech Walesa from the Solidarity movement in Poland. He says he is just a consumer and knows very little about economics and business but he does know that something is very wrong when 10 percent of the populations controls 100 percent of the wealth. In the USA, our government is led by people like Bill Clinton and George Bush. They never made a living as workers. Bill Clinton was always a product of government and George Bush use government in making his fortunate in baseball. The stage is set for the same thing in 2009 with two presidental candidates who were never really workers.
Our economy can be called Financialism with a oil money standard that is running on empty. Our transfomer money toy economy does not have enough functions to survive. The action figure of other economies do and are knocking us out of the picture. The other countries have a vast labor market of cheap labor down to levels of wage slaves and even child labor.
Let's call what we got by its real name. It is Financialism where production, manufacturing and good wages functions in our Transformer Money Toy economy are missing with a the focus on speculation, debt products and profits. Who will tell our grandchildren why we let this happen. Is money a product all its own. Money should it only be something that transfers values in transactions and not and end itself.
As we noted in our last post, money is the product of a dysfunctional global economy. It is like a transformer toy that is running out of functions to convert values.
We were going to review Kevin Phillips 's book Bad Money which is an excellent analysis of the financial world we now live in. However, like so many other good books the priority of labor and work is still ignored. We tell about this at our The Rationale site coining the phrase
work and labor the stepchildren of philosophy and religion - link.
Also as we have noted before, Globalists and Free Traders use Adam Smith to defend their dysfunctional global economy but ignore the fact that Adam Smith held labor and work as something sacred and the core of society - the very essence of any economy.
Ben Stein of TV humor and politics, describes more about the dysfunctional global economy.
He says, we borrow money from China, use the loan to give Americans economic stimulus money which they use to buy Chinese products. We call it a global economy but the trade deficit proves the money only travels one way with the elite funneling profits outside of any real economy. The holes in our economy are like swiss cheese. Some of sages of old tell us to pity a nation which does not make the things they use for soon they will be under the power of the ones who do. This is the reality of so called Free Trade that moved U.S. production and factories outside the USA.
Kevin Phillips goes into this deeply citing the financialization of our economy which can survive on "funny money". Without making our own products, financial tools with oil as the money standard runs the show. The Globalists are trying to just make money on money with debt being one of the products. Oil has replaced the gold standard but oil money is based on speculation and manipulation and does not stand a chance of providing any real money standard.
Instead we have ruptured local value added economies with no power to recyle itself. We once enjoyed local value added economies that added real values from raw product to the retail leven in about 5 stages up and down. This has never happened before in U.S. history. Now after twenty years, there is a vast new working poor class that is finding it even difficult to buy the cheaper imports. Many of retail workers who make up a large part of the economy need government assistance to survive economically.
Kevin Phillips's book is a good resource for all who want to digest the financialization process of our economy but still there is no one who speaks for the workers who are the core of any economy. Instead, we get the educated language of economic statistics without any real meaning. One of the first leaders of our time who came up from the working class was Lech Walesa from the Solidarity movement in Poland. He says he is just a consumer and knows very little about economics and business but he does know that something is very wrong when 10 percent of the populations controls 100 percent of the wealth. In the USA, our government is led by people like Bill Clinton and George Bush. They never made a living as workers. Bill Clinton was always a product of government and George Bush use government in making his fortunate in baseball. The stage is set for the same thing in 2009 with two presidental candidates who were never really workers.
Our economy can be called Financialism with a oil money standard that is running on empty. Our transfomer money toy economy does not have enough functions to survive. The action figure of other economies do and are knocking us out of the picture. The other countries have a vast labor market of cheap labor down to levels of wage slaves and even child labor.
Let's call what we got by its real name. It is Financialism where production, manufacturing and good wages functions in our Transformer Money Toy economy are missing with a the focus on speculation, debt products and profits. Who will tell our grandchildren why we let this happen. Is money a product all its own. Money should it only be something that transfers values in transactions and not and end itself.
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