[jeffkrol]

–Watch this space to follow the Recession Predictor. Monetary Sovereignty – Mitchell

and a very interesting side note.. One that of course I have mentioned before.........

What is Debt? ? An Interview with Economic Anthropologist David Graeber naked capitalism

DG........(snip)............When thousands of people begin assembling in squares in Greece and Spain calling for real democracy what they are effectively saying is: “Look, in 2008 you let the cat out of the bag. If money really is just a social construct now, a promise, a set of IOUs and even trillions of debts can be made to vanish if sufficiently powerful players demand it then, if democracy is to mean anything, it means that everyone gets to weigh in on the process of how these promises are made and renegotiated.” I find this extraordinarily hopeful.

PP: Broadly speaking how do you see the present debt/financial crisis unravelling? Without asking you to peer into the proverbial crystal-ball – because that’s a silly thing to ask of anyone – how do you see the future unfolding; in the sense of how do you take your bearings right now?

DG: For the long-term future, I’m pretty optimistic. We might have been doing things backwards for the last 40 years, but in terms of 500-year cycles, well, 40 years is nothing. Eventually there will have to be recognition that in a phase of virtual money, safeguards have to be put in place – and not just ones to protect creditors. How many disasters it will take to get there? I can’t say.

But in the meantime there is another question to be asked: once we do these reforms, will the results be something that could even be called ‘capitalism’?

doesn't belong here but a good read.............

http://www.nakedcapitalism.com/2011/08/the-wages-of-destroying-labor-bargain...f-capital.html

The Wages of Destroying Labor Bargaining Power: Nearly 30% of Job Losses Due to Management Cutting Pie in Favor of Capital

Ohhh snap...............

Yes. Permanently high DISemployment is an elite policy goal, shared by both legacy parties, and successfully achieved by Obama (“Only Nixon can go to China.”) Permanently high DISemployment keeps wages low, and productivity high, by putting workers in fear. And corporate profits are higher than ever, so Obama’s owners are happy.

Permanently high DISemployment also will have the happy effect of shortening life expectancy, a la the former Soviet Union, through stress, loss of housing, loss of insurance and health care, and so forth. This has various actuarial benefits that our feral elite has no doubt taken into account

You are leaving out the elephant in the room: health insurance costs. Just about every wage gain that J6P SHOULD have gotten went into skyrocketing health insurance premiums. Unless we get health care costs under control, there won’t be any fixing of our wage issues.

Let's chant.. Medicare for all..............

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Last edited by jeffkrol; 08-28-2011 at 08:26 AM.