Wednesday, June 03, 2009

Greed is never a victimless crime

Whenever someone enabled by their wealth to do such things, buys more of the limited and exhaustible necessities than they need, be it land, water, food, fuel or whatever, they bid the price of those resources out of reach of someone else who was on the verge of not affording the bare minimum.  That power to diminish well being is not the advertised face of wealth.   Less altruistic behavior is a common reaction to a net scarcity of resources but we make it worse with an economics that artificially worsens the scarcity by enabling some of us to hoard.

When the rich pay for more than they need, 
the poor pay more for what they need.


The merit of having a plan for more sustained or broadly beneficial use of a resource is effectively nil under the reward schemes of our economy.  We put the good faces of Lincoln, Washington, Hamilton and Franklin on our money.  That almost seems like lying to me.  Money is a sweetener to hide the real flavor of the inhumane nature of our transactions.  Lucifer, Beelzebub, Mephistopheles, Gordon Gekko, Phil Gramm and Ronald Reagan's faces are the ones we should see each time we trade.

5 comments:

Anonymous said...

We are not getting out of this depression anytime soon. Its going to get a lot worse for most of us. It didn't have to be this way. Greed ruins everything. If you don't believe it, then ask any professor of economics.

"As mass production has to be accompanied by mass consumption; mass consumption, in turn, implies a distribution of wealth -- not of existing wealth, but of wealth as it is currently produced -- to provide men with buying power equal to the amount of goods and services offered by the nation's economic machinery. Instead of achieving that kind of distribution, a giant suction pump had by 1929-30 drawn into a few hands an increasing portion of currently produced wealth. This served them as capital accumulations. But by taking purchasing power out of the hands of mass consumers, the savers denied to themselves the kind of effective demand for their products that would justify a reinvestment of their capital accumulations in new plants. In consequence, as in a poker game where the chips were concentrated in fewer and fewer hands, the other fellows could stay in the game only by borrowing. When their credit ran out, the game stopped."

Marriner Eccles, FDR's Chairman of the Federal Reserve Bank - 1959

In other words, the first Great Depression was caused by greed. The rich couldn't settle for reasonable pay. They had to have more and more and more. That caused a giant shift in buying power from the majority to the rich. When the majority lost their buying power, they lost their ability to support the economy. Einstein said basically the same thing in 1949.

Its even worse now. Ordinary people havn't only lost their relative buying power. They have also lost their savings, home values, pensions, and benefits. This didn't happen overnight. Its been happening gradually for the last 30 years. Meanwhile, the rich have become super incredibly rich. The richest 500 Americans are worth about two trillion dollars. More than the bottom 40% of American housholds combined. The richest 1 percent are worth about 15 trillion dollars. More than the bottom 98% of American households combined. Thats just insane. I don't care how much work for humanity the rich claim to do. Its nothing but a cover for their own greed. We don't need anymore rich people to create jobs or make donations for charity. We need them to get reasonable about how much money and assets they keep for themselves.

Don't believe their excuse about paying more income taxes. They don't pay enough. For every tax they pay, they get an obscene profit, bailout, or kickback from our government to cover it. We had a progressive tax system that worked for over 40 years. It prevented too much wealth from accumulating at the top. In 1976, the middle 80% owned about 2/3 of America's total wealth. Reagan lowered taxes for the rich. Bush lowered them again. Now, the richest 5% own about 2/3 of America's total wealth. The lower 95% own about 1/3. America's wealth has been transfered from poor to rich again. Now, we have another depression.

Don't believe it when the rich claim to be getting poorer. Property values have gone down for everyone. Thats because of the concentration of wealth and income. When the economy slows down, property values tank. So when rich people complain about lower net worth, its a trick. They still have the same buying power on average.

Everything that is happening with the economy is happening because too much wealth has been taken away from the majority and concentrated into the private vaults of rich people. The same ones on TV telling us how much they want to help the world. Its a big lie. Just another way to promote their own business and get more of our money. Rich people don't want to help the world. They want to own it.

Now, the economy is ruined. Obama can't fix it because the rich won't let him. There will be no bailout for the people because the ones with all the money won't settle for less. They want more. Its going to get a lot worse. Say goodbye to the American dream and hello to the American nightmare.

GreenSmile said...

Anon. I am pretty much with you as far as how screwed we are. I add a few other faults...its not just the rich. Its any body who wants to be rich. Its people who will ignore consequences just so they can live as if they are rich.
But yes, the rich have a vast power to forestall needed changes, and their insecurity about sharing or giving up any of that power will make them fiercely resistant right to the bitter end. But the same psychology has the bible thumpers hanging tough with their irrational condemnations of all modernity.

And its not just money and who controls it. this time around, we have probably run out of some crucial crutches that made our soulless capitalism seem to work: oil.

Mumon said...

Sad thing, is there's still folks making gobs of money hand over fist.

Anonymous said...

好秘书 我爱皮肤 中国公文网their irrational condemnations of all modernity.

uwanna said...

ghd glätteisen

christian louboutin shoes

ghd Straightener

christian louboutin

Copper clad aluminum busbar
Copper clad stell
Copper clad aluminum

fitness shoe
fitness shoes
mbt shoes
fitness shoe
fitness shoes
mbt shoes

timberland boot
timberland shoes
timberland boots
timberland

timberland boot
timberland shoes
timberland boots
timberland

ghd hair straighteners
hair straighteners
straighteners hair
ghd straighteners
straightener hair
ghd hair

ghd hair straighteners
hair straighteners
straighteners hair
ghd straighteners
straightener hair
ghd hair

ray ban sunglasses
sunglasses oakley
oakley sunglasses
sunglass

ray ban sunglasses
sunglasses oakley
oakley sunglasses
sunglass