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After all, during the Great Compression of wealth distribution and the rise of the Great American Middle Class, in the era of tightly regulated banking operations engaging in the boring business of prudent lending to good credit risks ... ... it was exactly the same Federal Reserve system. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
it was rather the leverage available to those who understood what was going on
because they were demanded by the first generation of so many thousands of families using the GI bill to become educated enough (especially in history!!) to be able to understand the forces behind the facades, causes behind effects, and thus become empowered to candidate themselves, become more activist in demanding rights.
there was a quid pro quo, as many had died in a WW that did not directly threaten america, the american public was not that keen on going over in droves to sort out europe's thanatic urges with their kids' blood.
those who survived and entered through that portal to a system which had hitherto remained too closed to access for the ordinary joe blow. this was probably the period, the great compression as you aptly name it, when there was a greater majority of working- and lower middle class with experience of other cultures through travel, eyes wide open with respect to the now great number of americans who are disinterested in the world beyond their nation's borders.
they had civics classes back then, more pride in democracy, and the post-war boom was about to shower all the modern conveniences of suburban life, gas at 10c. a gallon, brand new roads leading out to everywhere the trains didn't reach, home markets expanding, incomes outpacing inflation, opportunities everywhere, even for minorities, who made much progress educationally and economically, even before their basic rights were legally enshrined and segregation banished.
everyone loved capitalism on the way up hubbert's curve, enough to be happily incurious as to what had caused the crash before the wartime keynesianism had saved them.
this is the mythic golden age conservatives harken back to, and feel betrayed at losing. the crunch of their titanic sense of entitlement onto the bergs of reality makes them bitter and ready to lash out at phantom demons like 'liberals', gays, anything different than their chosen set of narrow canons that reigned so effortlessly those years.
nostalgia is a powerful thing... the ex-slave-owning class is barely getting over abolition.
that happy incuriosity is changing, now strange smells and sounds are coming from under the hood, more folks are getting curious as to what the engine of the economy really runs on. it's shocking to think that rackets like deathware, the military and security are such a big part of the 'job market'. deathware including big ag and big pharma, tbtf banking and those financial weapons of mass destruction that then justify austerity measures.
i don't think they want to kill the consumer economy, but they're stuck with the lack of vision to see beyond the resource crunch, so conditioned are they to waste and growth, slash and burn, boom and bust.
all to vainly clutch onto a reality that is slipping through their fingers anyway...
there will be a window, as the world pseudo-economy crashes, for new ideas to take root and thrive. that moment may be very soon. the better we understand why the old way went south, the better we will navigate it, and possibly aid in the creation of something better out of its ashes.
the ultimate irony is that it might take a world economic crash to save us from the effects of runaway climate change...
'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty
... the Great Compression took place between 1935 and 1945. It was the New Deal and the New Dealers that done it. It wasn't done on the back of the GI Bill, as the GI Bill has not yet happened. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
Wasn't it in Michigan where there were two barrels of gold bullion, which did a leap frog along the path of the bank inspector, with the one barrel at the bank that the bank inspector was inspecting, and the other barrel making the journey from the bank that had just been visited to the bank about to be visited next.
There are also the stories of the reserves of hard currency, also in barrels, with the top fifth of the barrel full of silver and the bottom four fifths full of nails. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
... and all too often the warts are put under a magnifying glass bought and paid for by those who want to in fact make the problems worse and instead eliminate either the good that they do do, or guarantee that they do not start doing the good that they might do. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
... and all too often the warts are put under a magnifying glass bought and paid for by those who want to in fact make the problems worse and instead eliminate either the good that they do do, or guarantee that they do not start doing the good that they might do.
Not only could we have better, but we could have better under the existing rules. Regulatory capture does not automatically or even necessarily require some systemic reform: it may, instead, require a movement committed to capturing the regulator back in the interest of the affected community rather than the regulated industry. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
Thoughtless growth, as required by capitalism, often turns malignant.
Maybe the system is wrong, not the tweaks. Align culture with our nature. Ot else!
The Federal Reserve was created in 1913 to do four things which the FED is still engaged in today. The Panic of 1907 was caused by speculators who used borrowed money to buy stock and by bucket shops which defrauded investors. The Monetary Reform Commission run by Senator Nelson Aldrich wanted an elastic currency so the financial blunders of the 0.1% could be covered up by passing the costs onto the 99.9% through inflation. An elastic currency also allowed the costs of wars to be disguised by inflation. The Federal Reserve also set up a fractional reserve banking system which permitted ten dollars to be loaned out for every one in deposit. This intentionally created an exaggerated credit cycle so bankers could profit from the wild swings in the prices of stocks and mortgages. And finally the Federal Reserve Note is an interest bearing currency which requires us to give the banks 500 billion dollars a year in interest payments for debts which are fictions created by a law passed in 1913. The Federal Reserve was designed to transfer our wealth to the bankers. The Federal Reserve Act's elastic currency made it possible for President Wilson to promise to enter WW I. Wall Street wanted to enter the war so they could bankrupt England, overthrow the Czar killing 60 million Russians in the process and set up Palestine as a Jewish colony to be protected by the British Army. This was similar to WW II. The Japanese Emperor had promised to withdraw from China and to even become an ally against Stalin as early as 1936. The German General staff under Beck and Canaris sent two men in March of 1938 to negotiate a treaty with the English offering to arrest Hitler. This means that World War II from the Rape of Nanking to the atomic bombs dropped on Hiroshima and Nagasaki and from the invasion of Poland to the fall of Berlin need not have happened. That 58 million people died for nothing does not merit a footnote in the stories told by the victorious Allies. After WW II the US gave north Korea to Joe Stalin so they could set up the Korean war to get anti-Communists killed while running America into ground. On 11-22-1963 President Kennedy was killed on the 53rd anniversary of the first meeting to create the Federal Reserve as a message to the voters to leave the FED alone. JFK's death also allowed Israel to develop the nuclear weapons he had opposed. It also allowed the US to be led into the Vietnam war so America could lose it while killing a generation of anti-Communists and anti-Globalists, That millions of people died in Korea and Indo-China and even more Unpayable Debts were piled onto America which was very good in the eyes of bankers.
The Federal Reserve was created in 1913 to do four things which the FED is still engaged in today. The Panic of 1907 was caused by speculators who used borrowed money to buy stock and by bucket shops which defrauded investors. The Monetary Reform Commission run by Senator Nelson Aldrich wanted an elastic currency so the financial blunders of the 0.1% could be covered up by passing the costs onto the 99.9% through inflation. An elastic currency also allowed the costs of wars to be disguised by inflation. The Federal Reserve also set up a fractional reserve banking system which permitted ten dollars to be loaned out for every one in deposit. This intentionally created an exaggerated credit cycle so bankers could profit from the wild swings in the prices of stocks and mortgages. And finally the Federal Reserve Note is an interest bearing currency which requires us to give the banks 500 billion dollars a year in interest payments for debts which are fictions created by a law passed in 1913. The Federal Reserve was designed to transfer our wealth to the bankers.
The Federal Reserve Act's elastic currency made it possible for President Wilson to promise to enter WW I. Wall Street wanted to enter the war so they could bankrupt England, overthrow the Czar killing 60 million Russians in the process and set up Palestine as a Jewish colony to be protected by the British Army. This was similar to WW II. The Japanese Emperor had promised to withdraw from China and to even become an ally against Stalin as early as 1936. The German General staff under Beck and Canaris sent two men in March of 1938 to negotiate a treaty with the English offering to arrest Hitler. This means that World War II from the Rape of Nanking to the atomic bombs dropped on Hiroshima and Nagasaki and from the invasion of Poland to the fall of Berlin need not have happened. That 58 million people died for nothing does not merit a footnote in the stories told by the victorious Allies.
After WW II the US gave north Korea to Joe Stalin so they could set up the Korean war to get anti-Communists killed while running America into ground. On 11-22-1963 President Kennedy was killed on the 53rd anniversary of the first meeting to create the Federal Reserve as a message to the voters to leave the FED alone. JFK's death also allowed Israel to develop the nuclear weapons he had opposed. It also allowed the US to be led into the Vietnam war so America could lose it while killing a generation of anti-Communists and anti-Globalists, That millions of people died in Korea and Indo-China and even more Unpayable Debts were piled onto America which was very good in the eyes of bankers.
Everything in that quote is wrong.
Oh, and the language is Breivikesque.
- Jake Friends come and go. Enemies accumulate.
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