World Markets continue their plunge

Taras

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http://finance.yahoo.com/intlindices?e=asia

http://finance.yahoo.com/intlindices?e=europe

Look at the red. This is huge volatility and it reflects fundamental problems with the "Global Economy" where the absolute wealthiest people looked around at each other and said "You know what?" "Screw the working class of our respective countries, there's money to be made". So they proceeded to outsource, offshore, gut industries, import underclasses and generally make a mess of things. The banks, governments and largest businesses are in collusion to consolidate their grasp on laws, industry and economies. And those with representative governments believe that they have the power to change things by ideas. That's the greatest scam of all. This shakeout in the markets will culminate in the serfs eventually learning where they stand. And that's little more than indentured servantry for life, but with HDTV
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All the best...
 

Taras

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complex level than a parroting of Mein Kampf. It is naive to suppose that there is an international cabal of wealthy people and corporations.

Mein Kampf? You must be the one who's trolling. But way to devolve this and represent Godwins law in the 1st response.

The simple fact is that fortunes stem from different sources and holders of those fortunes have different and often competing interests, quite often even when those holders are related.

Most of the current fortunes have been consolidated by the very methods I've mentioned prior: inflation (controlling the liquidity supply), easy credit with usurious (yes, 30% interest is usurious) terms, placing excessive burdens on the middle class to pay interest to the Federal Reserve. And many, many pieces of legislation we've seen passed during the Bush administration, some of which were authored by his 2nd largest campaign contributer - MBNA. And traditional American fortunes, those from local neighborhood Mercantilism, have been almost completely decimated by the majors like Wal Mart and Home Depot corp (which is/was chaired by an ex-Bush cabinet member). So feel free to try that one again.

On another level, control over wealth is often not absolute

Yes, that is troublesome for the powers that be and certainly why world body organizations such as the Worldbank attempts to loan-shark developing nations into lopsided loans in exchange for their complicity. Much like revolving-door lenders do on a micro level. Neat, huh?

Perhaps you should ask yourself whether a government that is not even nominally accountable to its citizens would be any better than a representative government that has minimized that accountability through bureaucratic and legal mechanisms designed to maximize its power.

That's not the question at all. The question is how did the influence of corporate money entirely overtake our political system at every level, but maybe the Local? And believe you me, a lot of people are asking that question as it becomes more blindingly obvious whose interests are being satisfied in government, commerce, economics, media and everything else of substance.

Anyway, if you are truly interested in the subject, do some reading, there are plenty of good history books and economic treatises that might be interesting. I suggest Hobbes' "Leviathan" and Adam Smith's "Wealth of Nations" to start with.

Thank you. Although I don't subscribe to the notion that without nanny Government, protection from Terriers and Central Economic Planning that life becomes nasty, brutish and short. You should have recommended Keynes, because I know what you're driving at.

And I would in turn, recommend to you a laundry list of Austrian Economic theory such as von Mises, but what's the point?

I suggest you postpone the whole political economy blog thing until you study both politics and economics and understand them on a more complex level

Actually, I'm doing fine there. And the way things are playing out, it looks like I was correct.

Regards,
 

Taras

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Wow. Neo-Socialist/Fascist. And because I oppose this all-pervasive system of financial Sharecropping? Just wow.

Well, it seems you just have namecalling and justifications for statism to offer. And since your view is pushed in every Mainstream Media outlet from the editorials page to Faux News, I think that's plenty. No need to encroach on the last corner of free speech where the proles can still wail about legitimized theft by inflation, financial debauchery and monetary manipulation. So I will do something that I ordinarily wouldn't and see to it that your posts are henceforth removed. Heck, I could even remove my own because its becoming readily apparent to the working class that they're being screwed. Nobody needs to tell them that food prices are up as much as 25% over two years (for many reasons including the commodities boom, transportation costs, the corn ethanol scam, but also central banking). And nobody really needs more voices shouting down the obvious, but you're free to keep trying elsewhere.

Peace
 

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    ZeroT21 @ ZeroT21: sounds like you need more steam decks to upgrade yur life