Sunday 12 May 2024

The Rich Have You Brainwashed: Capitalism Is a Zero-sum Game, They Win, You Lose

Apr 25, 2024 | The elites - especially the rich - want you to believe that capitalism is not a zero sum game. This is the false hope that fuels the American dream. The fact is that social mobility is lower in the USA than it is in socialist industrialized countries such as Scandinavia, France, and Germany.

Most wealth in the West is not made - but is inherited (Piketty). Ironically, new fortunes are generated in quasi-capitalistic places like China, Russia, and Vietnam or India. Economy not zero-sum game (growth pie all around, for consumers and producers), but capitalism is.

Marx was right about this (and only this). Like Communism, Fascism, or Socialism, Capitalism is a method to allocate resources, means of production, and surplus. Capitalism uses the price signal in a free market (as opposed to central planning).

Proof that is zero-sum: taking from the rich to give to the poor (taxation as progressive distributive justice) and taking from the poor to give back to the rich (regressive inflation, taxation, and asset bubbles). But why, in an environment of growth is the game zero sum? Because of scarcity. The rich cannot reinvest all their income and so it is taken out of circulation to the poor (though it is still available to the businesses of the rich via the banking system). Another reason: depletion of natural resources. These shortages are camouflaged by fiat money, debt, and the symbolic economy. But these are Ponzi schemes and they crumble periodically in cycles of boom and bust.

Saturday 11 May 2024

Britain Can’t Afford to Keep Brexit, It’s a Costly Misadventure Which Only Benefits a Few!

May 10, 2024 | Britain continues on with delivering Brexit self sanctioning measures which impoverishes more people every day. Brexit is working to destroy our #foodsecurity leaving Britain weak and poor and reliant on world markets for food. Adam Posen, former Bank of England policy maker, has been proved absolutely right as have all the people who warned against doing Brexit.

Tuesday 2 April 2024

We Need to Talk about Brexit | FT Film

Apr 2, 2024 | The UK's 2016 vote to leave the EU was the most dramatic political and economic decision for generations. But as the country prepares for a general election, it is no longer on the political agenda. This film examines why no political party wants to talk about it, why Brexit remains the elephant in the room for British business and how it could actually work better

Brexit has been a disaster. It was obvious that it was going to be a disaster from the very start. Moreover, there is only one way to fix Brexit and that is to rejoin the EU. Furthermore, we need to rejoin without opt-outs. We should embrace the euro, too. – © Mark Alexander

Wednesday 20 March 2024

Crypto = Internet Points? Why It WON'T Make You Rich

Feb 27, 2022 | Gary takes us on a walk from a bookshop to a bookies while he discusses the massive transfer of wealth that is occurring right now due to cryptocurrencies. He explains why all is not as it seems in the world of crypto & NFT and urges caution to the ordinary person on investing.

Tuesday 12 March 2024

Why Is Switzerland Home to So Many Billionaires?

Feb 5, 2024 | Switzerland is populated with billionaires — there's one for every 80,000 people. As of 2022, the country was home to an estimated 110 billionaires with a combined wealth of $338 billion, outranking other super-rich hotspots such as Saudi Arabia, Singapore and the United Arab Emirates. Swiss residents are also among the richest in the world, with a mean net worth of almost $700,000, ahead of U.S. and Hong Kong. So, what makes Switzerland such an attractive place for the uber wealthy, and how does that extreme wealth affect the rest of Swiss society? Watch the video to find out.

Sunday 3 March 2024

Monday 19 February 2024

Kaffee ist jetzt ein Luxusgut für Reiche


FRANKFURTER ALLGEMEINE ZEITUNG: Der neue argentinische Präsident Javier Milei hat versprochen, die Inflation zu stoppen. Derzeit liegt sie bei mehr als 250 Prozent. Wie hält ein Land diese Geldentwertung aus? Eindrücke aus einer Stadt zwischen Hoffnung und Verzweiflung.

Für Träumereien ist sie zu alt, fürs Aufgeben zu jung. Also hält sie die Stellung in einem Kiosk am Bahnhof Once in Buenos Aires, sitzt stolz auf einem Hocker und wartet darauf, dass jemand stehenbleibt und eine Kleinigkeit kauft. Aber die Menschen hasten auf dem Weg zur Arbeit an ihr vorbei. Nur selten kramt jemand ein Bündel Geldscheine aus der Tasche wie ein Oligarch. Scheine, die lächerlich wenig wert sind.

Argentiniens Gesellschaft taumelt. Die jährliche Inflationsrate liegt bei 254 Prozent, und sie stieg zuletzt in einem Tempo wie bei der Hyperinflation Anfang der Neunzigerjahre. Allein im Januar betrug die Teuerungsrate zwanzig Prozent. Dieser Wert stürzt die Hüterin des Kiosks und zahllose Argentinier in die Verzweiflung. „Alles wird ständig teurer“, klagt Paula. Lebensmittel, Kleidung, Kosmetikartikel, Medikamente. Kaffee, der importiert werden muss, ist inzwischen ein Luxusgut. Die Preise für ein Busticket haben sich verdreifacht. Wenn Paula morgens aufwacht, ist sie wieder ärmer geworden.

Dabei arbeitet Paula, Ende vierzig, täglich zwölf Stunden, nur sonntags hat sie frei. Sie lebt in Moreno, eine gute Stunde mit dem Zug von Buenos Aires entfernt, wo alles günstiger ist als in der Hauptstadt – aber was bedeutet in diesen Zeiten schon günstig? Sie sei traurig, sagt sie, traurig aber auch sehr wütend. Paula geht nicht mehr zum Friseur, sie verzichtet auf Zumba, jede Tüte Milch ist eine Frage der Abwägung. » | Von Melanie Mühl, Buenos Aires | Montag, 19. Februar 2024

Friday 16 February 2024

Dr. Richard D. Wolff’s View: Global Capitalism: Europe 2024: Disunity, Decline, Despair | February 2024

Premiered Feb 15, 2024 |

The Guardian View on the UK Recession: No Growth and No Ideas Either

THE GUARDIAN – EDITORIAL: The Conservatives have presided over a shrunken British economy, and Rishi Sunak does not have a clue how to make it grow again

“We’re on the up!” claimed the Daily Express about the British economy on Thursday . Sorry, loyal Conservative cheerleaders, but exactly the reverse is true. Instead of being on the up, we’re on the slide. On Thursday, the Office for National Statistics announced that the UK is in fact in recession, with a 0.3% drop in gross domestic product for the last quarter of 2023 to follow a 0.1% drop in the third quarter. The economy is therefore getting smaller. This is a recession. It is a huge national blow, both economically and politically.

It is true that the slide into recession has been a gentle one. Few economists believe that the announcement portends a downward lurch to compare with the recession of 1980 or the one after the financial crisis in 2009, when GDP fell by more than 4%. Do not, though, be misled by talk of a “technical” recession. An economy is either growing or it is not. Ours is not growing. It is shrinking. » | Editorial | Thursday, February 15, 2024