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hardnox
Advisor

Hudson with Hedges pt. 2

http://michael-hudson.com/2016/03/traumatized-worker-syndrome/

 

"HUDSON: You had the great Roman historians, Livy and Plutarch – they blamed the decline of the Roman empire on the creditor class being predatory, and the latifundia. The creditors took all money, and would just buy more and more land, displacing the other people. The result in Rome was a Dark Age, and that can last a very long time. The Dark Age is what happens when the rentiers take over."

8 Replies
hardnox
Advisor

Re: Hudson with Hedges pt. 2

BTW, some harsh and deserved criticism of Obama here. And the implication of what you get with Clinton II who just wants to keep the bottom 90% in the game so that it continues in favor of the toip 10%.

 

All the Republicans, to varying degrees, want to punish them for being lazy and feckless.

ihtractortherap
Senior Contributor

Re: Hudson with Hedges pt. 2

So what is your solution Nox??
BA Deere
Honored Advisor

Re: Hudson with Hedges pt. 2

This election (2016) is the first one where the socialist option has become mainstream (Bernie Sanders).  We are at a fork in the road, I think many people have "woken up" however what they do with this new epiphany is what we`ll find out in November.  If Hillary is chosen, it will mean Bandaids will be put on the patches, but the slope is definitely tilted socialist going forward.  Trump has the solution (like it or not) however as global dependent and slave labor dependent we`ve become, I don`t know as the cure may have the same result as the disease.  We got half or more of the country that might know what`s wrong, it`s just it isn`t in their self interest to cooperate and heal.

 

Here are a couple stories from the mainstream that suggests some are at least seeing the problem.

 

http://www.msn.com/en-us/money/markets/the-89percent-pay-cut-that-brought-trump-mania-to-americas-he...

 

 

http://www.msn.com/en-us/money/markets/what-americans-really-think-about-free-trade/ar-BBqV87j?ocid=...

ihtractortherap
Senior Contributor

Re: Hudson with Hedges pt. 2

Read the article in its entirety. Makes one angry. Wonder how this bodes for high priced farmland. I suppose it depends on who owns it.
hardnox
Advisor

Re: Hudson with Hedges pt. 2

The process of destruction began to come together in the 70s but really took off after 1980. So it isn't easy to reverse.

 

But first thing is to stop digging the hole- the only immediate tool is more sharply progressive taxation, including inheritance.

 

A stronger safety net is necessary- particularly cost capped* universal healthcare so as to reduce that form of taxation on the lower 90%.

 

But then it is mostly about jobs so that most don't require the safety net- or are fully paying for the healthcare component via payroll taxes. The only way to do that is with spending and there is a vast decaying infrastructure to be rebuilt and modernized for 21st century realities.  A $trillion a year in spending, half funded by taxes, half by borrowing (the "market' is giving money away) would push the economy to full employment and possibly beyond- resulting in considerable wage growth (and a $15 min wage isn't a problem under those circumstances). And BTW, tax revenues would rise quite a lot, particularly SS and Medicare (or a universal plan paid for by payroll taxes).

 

One problem is that the 40 years of neoliberalism might actually sabotage that a bit- "markets" may actually prefer stagnant growth, low interest rates and financialized profits to real profits from a strong economy and flush consumers. But one direction is certain death, the other holds some promise.

 

* A cost capped system will engender some death panels on things like, say, the lung cancer drug that gives an extra 3 months of life on average, several for a few and costs $100,000 (and is now advertised on TV). We can't pay for that and if you or a loved one needs it and you're not a .5%er who can pay cash, you're out of luck, at least as far as that extra 3 months goes.

hardnox
Advisor

Re: Hudson with Hedges pt. 2

At heart Trump is just a Trojan Horse for the biggest wealth transfer in history as $trillions in untaxed CGs will flow through the system untaxed.

 

Guns, abortion, trade are just typical diversionary tactics to keep suckers looking the other way while the robbers exit the bank..

 

BTW, El Donaldo is now officially toast, either at the convenetion or in the general. Hard telling if he just finally made a critical mistake in his off the cuff bantering or if he's actually having second thoughts.

BA Deere
Honored Advisor

Re: Hudson with Hedges pt. 2

I have said from day 1 that Trump first got traction that he was "too good to be true" and it was only a matter of time as to how and when the nomination if not the election would be stolen from him.  I don`t think you can call him a "trojan horse" because for too many he isn`t an enticing gift to roll into their city.   The whiteshoe boys don`t like him because he would unset their apple cart, importwise, cheap laborwise and taxwise.  The phony left wring their hands that he would somehow bring back America`s sovereignty...that is somehow seen as "unAmerican"?

 

Trump isn`t about "untaxed capital gains" he just doesn`t want the whiteshoe hedge fund boys paying the 20% rate as opposed to the 39% rate.

 

I`ll stick this David Stockman article in here about how Trump is right on not being the world`s policeman, we`re flushing $1.5 Trillion each year by not sending out a bill for our military services.

 

http://davidstockmanscontracorner.com/trump-is-right-dump-nato-now/

hardnox
Advisor

Re: Hudson with Hedges pt. 2

Actually BA, I don't know how the rest of the larnin' was in your one room schoolhouse in Ioway but by far the most socialist serious prez candidate, was one of your own- Henry Wallace, a perfessor at what was later reformed into the Iowa State Evangelical Lutheran Academy and Institute of Neoliberal Corporate Republicanism.

 

Bernie's a bit more like FDR, or Truman, who Wallace was dumped in favor of.

 

Or Eisenhower on domestic matters, although we can holpe that Bernie wouldn't involve us in so many geopolitical intrigues.