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The only job creator is demand.
The only hard worker are the laborers.
The only job-killing drain on the economy is CEO pay.
The only true innovators are independent of shareholders.
And if money is free speech, then poverty is oppression.

You can only stand on the shoulders of unfortunate people and claim your success if the fault of their losing. Who would take that forever?

The wealthy in this world had better shape up before they get a mix of French revolt on a globalized scale -- I seriously do NOT want a revolt; we'll all lose something deeply necessary if that happens.
jambe Featured By Owner Feb 23, 2014
This is excellent.

With all the cutting and "austerity" measures in Europe right now I'm a bit fearful. Which was the only party in 30s Germany arguing against austerity?

... started with an N...

Unemployment causing shortsighted governments to consume themselves (and their citizens in the process) leads to really nasty politics...
pseudo-manitou Featured By Owner Feb 23, 2014  Professional General Artist
And yet, the alternative is so distasteful to the Ukraine, it burns itself to avoid it.

As for Germany and the Nazis -- very different situation, with Germany being forced to make reparations for WW1...
But it does show how easily idealistic extremes can take over when the current majority is clearly corrupt. A better example might be Somalia, and current strife in Nigeria.
jambe Featured By Owner Feb 23, 2014
I think the people making wrongheaded decisions are not a majority but rather a super-moneyed and/or elected minority out of touch with the common situation. I'm not familiar enough with Somalia or Nigeria to make comparisons.

Of course there are innumerable differences between 20s-40s and contemporary Europe, but austerity policies are my main concern and they're disconcertingly similar. Now instead of seeing Nazism we're seeing nationalism and separatism and (warranted) popular outrage in the outermost Eurozone nations.

After Nazism congealed from Weimar paramilitarism, it manifested politically as an anti-conglomerate, anti-capitalist "commoner-centered" movement meant to exist as a bulwark against Communism on the one hand and the West's increasingly-internationalized "Jewish" capitalism on the other (they folded Slavic racism into Commie-hate and Jewish racism in Capitalism-hate). The biggest supporters of the Nazis (both at its genesis and throughout the war) were lower-middle class Protestants – that is to say, those most affected by the 20s inflation and by later government austerity measures.

That is your similarity: the way Bruning handled Germany's budget after American capital dried up in 1929 (i.e. he hacked away at state spending) is the same as what's going on now (again at German behest) in the Eurozone's periphery, and back then it contributed to the rise of Nazism (via the increasingly-disaffected voting base). In the present day, Greece, Portugal, Ireland, et al. are getting butchered to prevent the Euro breaking up. Ireland is asking its own unemployed citizens to leave the country. Greece lost 30% of GDP over four years, and as economist Mark Blyth noted, the German Army didn't manage that between 41 and 45 (despite the deaths of over a quarter-million Greek civilians). Circumstances do not bode well.

The question remains whether Germany's Ordoliberal banking mentality can be generalized across the heterogenous Eurozone economy, with permanent unemployment essentially paying for universal budget surpluses. So far there's just been a bunch of liquidity-pumping, which is nothing more than passing debt on to the youths of Europe... which I'm sure will engender a grateful new generation (alongside the aforementioned unemployment).

But back in my home (American) territory: I wonder how long our state will tolerate e.g. the Cayman Islands and Ireland functioning as shelters for twenty-odd trillion dollars worth of untaxed wealth. I also wonder how long bank executives will be immune to criminal prosecution due to the requirement that all investors must remove capital from criminally-liable institutions (see HBSC getting off with nothing but a $1.9 billion fine for doing terrorism funding for Libyan and Sudanese militants and for laundering money for Central American drug cartels).

I'm pretty strongly with Blyth and other justice-oriented Keynesians who think we should've just let most of these shoddy groups fail (Bear Stearns, Lehman Brothers, Goldman Sachs, etc) and let new, less-centralized entities pick up whatever massively-deleveraged assets remained. As it stands, our banks are even more more consolidated – even too bigger to fail, to modify the soundbite. After we shut down every damn tax haven there is, I think we ought to work out our investment regulations such that we can imprison the turds who were criminal with money and we should fine the piss out of the managers and executives who dreamt up subprime loans, predatory credit extension, obscurantist debt vehicles, etc.

It's highly unlikely we'll do any of those things since bankers are essentially also governors here, but they strike me as the just course of action. As-is, all those shitty private debt instruments cooked up by our banks are now on the public balance sheet, i.e. we "little people" are bailing out our rich creditors for gaming the system, and will be for the next half-century (and we might actually see the conservative tide cut into the welfare state, which I'm sure will make the average American all kinds of thrilled). I guess that is the real "American Way" – tell yourself lies about independence and individualism whilst "benefiting" from an explicitly-aristocratic partnership between state and corporation.

blah de blah...

Just had a bit of time to kill with this rant. Again, I really like this piece of yours; it's provocative.
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