A New Economic System for a World in Rapid Disintegration

There is lots of whining and moaning about the economy….maybe there should be some changes…..

The world is in the grips of capitalism…..but it is not the capitalism of Adam Smith….this is a system that rewards corruption and theft not hard work…..

People born in poverty will remain is poverty….with very few exceptions.

Time for the planet to work on a new economic model that will benefit all residents of this planet…..not the corrupt few.

We live in ominously dangerous times. The world capitalist system — having fueled colonialism, imperialism and the constant intensification of labor power exploitation for roughly 500 years — now threatens the planet with an ecological collapse of unprecedented proportions. Unsustainable resource exploitation, water pollution (the transformation of lakes, rivers and oceans into garbage dumps) and massive economic inequality are at the root of the possibly irreversible collapse of industrial civilization. Meanwhile, however, too many of us remain caught up in abstract and ahistorical predictions of collapse that fail to offer an alternative realistic vision of a future socio-economic order.

Simultaneously, the phenomenon of global warming, driven mainly by the dynamics and contradictions of a fossil-based economy, has prepared the soil for the eruption of new sources of conflict with the manifestation of historically unique destabilizing social forces. Climate change directly threatens billions of people and most other beings — besides the occasional cockroach, diadem or tardigrade — with outright extinction brought on by droughts, floods and other “natural” disasters.

Source: A New Economic System for a World in Rapid Disintegration

This may sound like a dream….but it could work….but that would require the voter to make up their tiny minds that change is good and change is necessary.

I am talking about real change and not the frail crap handed out at a political rally….change will only come through hard work and determination….and right now the American people have neither.

How To Beat Falling Oil Prices

As we all know the oil market is kinda volatile…up and down….it has been so bad that the Saudis are looking for ways to expand their chances for income….they are exploring many different avenues to make cash.

But it seems that they have found a good way….at least in the short run…..

Muslims are required if possible to make the trip to Mecca at least once in their life….it is a religious obligation….

With Hajj prices for UK pilgrims soaring to $12,000 from $4,000 in 2010, many pilgrims can no longer afford to take part in the trip

With its glittering skyscrapers, ritzy hotels, and sprawling shopping malls, it is hard to believe Mecca was ever a simple dusty, desert town where the likes of Abraham, Hagar and Muhammad once roamed. The transformation to the landscape over the last few decades has been swift and irreversible.

Both staggering poverty and opulence are on full display in Mecca during the annual Hajj season, which began last week. Huddled masses of pilgrims from all over the world lie sprawled out on blankets on the floor of the courtyard outside the main mosque. They include the African family of five who lie asleep with all their belongings at the front door of the high-rise shopping mall and hotel just adjacent to the Grand Mosque, to the thousands of panhandlers who set up camp each year in the Tent City of Mina, selling scarves, slippers, toys – anything in the hope that foreign pilgrims will give generously.

Source: Is Saudi Arabia pricing poorer pilgrims out of Hajj? | Middle East Eye

That is one way to take advantage of a captive audience…..fleece the pilgrims….

Ah the greed is just amazing and all in the name of GOD……

No New Deal!

We hear a lot these days about the need for a “New Deal” to bring this economy back into some sort of balance…..we need good paying jobs and new industries that will return this country back to prominence….

But I disagree with that assertion….what we need is a new economic way of thinking…..the days of the 1930’s is dead and gone…..time to think of new ways to do the same thing…..

I do not understand the thinking by some in this country…..they seem to hold a grudge against poor people…..not something you would expect from a supposed “Christian” nation…..

Time to re-think our options……

Forget the New Deal, the 21st century needs a new global model of balanced growth based on cooperative economics.

In today’s global economy, neoliberalism reigns supreme, organized labor is in deep retreat and public debt has shot through the roof. In the face of these crises, is a global 21st century remaking of the 1930s-era New Deal what people on the left should be fighting for?

Contemporary progressive parties, such as Syriza in Greece and Podemos in Spain, have rallied around the idea of a “new New Deal,” while the European Citizen’s Initiative for a “New Deal 4 Europe” appears to have the backing of both Labor and Green party leaders in several European countries. In the US, Bernie Sanders has also been a strong advocate of this idea as the way out of our troubles.

Source: The 21st Century Doesn’t Need a New Deal — It Needs a New Economic Model

We need more than some neoliberal rehash of the New Deal of FDR.  The US needs a whole new economic model that pits jobs and output over profits.

The race to profits is what has turned the US economy into one similar to some Third World countries…..few at the top and corruption so they can stay at the top……

There can be successful workers as well as successful owners….but not in the model that the two candidates want to preserve.

Time for the American people to start thinking for themselves and ignore party politics……what is best for them and their family.

We Don’t Need An Industrial Policy

Election time and we hear a lot about our industries….how they have been taken away or that we need a policy of industrialization to replace our missing ones….have you heard these campaign slogans lately?

we have lots of ideological in-fighting….this side trumps (no pun intended) this side….but let us say we do get an industrial policy….is that not a type of ideological action?

“[Mariana] Mazzucato is as ideological a thinker as anybody else. In her ‘The Entrepreneurial State,’ she says, very clearly, that she sees herself as engaged in a ‘discursive battle’ against those who want to reduce government spending by claiming its inefficiency. There is nothing necessarily wrong with that: strong disagreements, and passion, are what make the world of ideas engaging. But in this last FT piece, she claims with some nonchalance that ‘the argument ought not to be about whether the state should not be involved in driving growth but how it can do this in the best way’ and subsequently, ‘we do not need false or ideological choices between market and state.’ Ok, so, if you want to let the price system work to try to solve problems whose solutions is still unknown to us, you’re an ideologue. If you want a club of enlightened bureaucrats to step in, you’re not.” (08/12/16)

http://econlog.econlib.org/archives/2016/08/isnt_industrial.html

The question is now…..with the end of this election will there be any change in our industrial policies?  Or is it just wishful thinking?

The ‘Socialist’ Obama

For 8 years there have been some that keep calling Obama a ‘socialist’….first of all these people would not know a socialist from a libertarian….these are the knuckle draggers that hear something they like and will repeat it ad nauseum…..second if one has the mental capability to look at Obama’s economics then they will see that he is more a free trader than Trump will ever be……

How many comments will there be based on the title alone?

Barack Obama’s presidency had an action-packed beginning. Stimulus plans! Bailouts! ObamaCare! Wall Street reform!

All of that — well more than $1 trillion of government spending and a sprawling thicket of new regulations — was enacted within Obama’s first year and a half. Republicans skewered this agenda as “big government.” Plenty of them branded it “socialist.”

But in this, the final year of Obama’s presidency, and a year in which a self-declared “democratic socialist” came surprisingly close to winning the Democratic presidential nomination, the “Obama is a socialist” chatter is a lot quieter. And rightly so. Because a clear-eyed view of Obama shows not some power-mad redistributionist, but a leader pushing the sort of pro-market economic reforms that the GOP’s own presumptive presidential nominee should be suggesting.

Source: Why ‘socialist’ Obama is more of a free marketeer than Trump

Bu6t none of this will stop the mentally challenged from using the term…..by now it is no longer frustrating at the lack of accuracy….now it is just pathetic.

Trumponomics – How the Trump Economic Plan Will Work

I recently ask a question here on IST of just what are Trump’s stands on issues…..a kind reader sent me a link but I was not thrilled about the answer I got there so I started some more research and I went to Trump’s website in search of the answers I sought……

Even his website was not real helpful….most of it was the slogans from his rallies….slogans are fine but they do not answer the question…..it does not help me understand his positions or his solutions….

So back to the drawing board…..it took awhile…I was hoping to find some sort of analysis of his economic plan and after some nail biting and cursing I found an analysis on a blog by Ian Welsh……

It is a good piece on the proposals of Donald J. Trump…..please no one have a stroke…..I want to be fair to this person…if his plan has merit then it should be reported……

Ok folks, let’s say what people keep refusing to say.

Trump’s economic plan makes sense and will work.

Okay?

What Trump wants to do is to use tariffs to return production to the United States.  He has mentioned a 35% tariff on cars produced in Mexico, for example.

This is not crazy, this is not insane, this is how economies were largely run for most capitalist history.

If a country is running a trade deficit it has more demand than it is filling domestically.  If it has unused capacity and less than full employment (both are true in the US, I would want to see the US running under 2% unemployment consistently for years before I was sure it was at full employment) then the stuff it is making overseas, which can be made at home, should be made at home.

Source: Trumponomics – How the Trump Economic Plan Will Work | Ian Welsh

Do not take this post as an endorsement for Trump’s plan…….I just want to be fair and give my readers all the info I can find on the candidates…..with the hope that they will make an informed choice when voting……we have had enough knee-jerk voting…..it has given us the circus we have now…..we are so much better than that….infantile name calling will not help in our search for a leader……

The Poisoning of Flint

Think back a couple of years ago and the term “Austerity” was all the rage…..trying to cope with an economic disaster these countries of the EU were making cuts and dropping many social programs…..all in the name of austerity…..

Those programs got me to thinking about Michigan and more importantly the city of Flint and their water supply problem……

I had tried to find a got explanation to why this had happened and I think I found a pretty good article that will help people understand what the situation is and how it was a problem that could have been avoided…..

In early 2015, shortly after his victory in a heated reelection contest, Michigan Gov. Rick Snyder (R) began exploring a run for president. With his business experience and electoral success in a blue state, Snyder was considered a viable potential candidate, so he embarked on a national speaking tour and set up a fundraising organization. Its name: “Making Government Accountable.”

Source: The Poisoning of Flint | Common Dreams | Breaking News & Views for the Progressive Community