If the masses would read Michael Hudson, their eyes would open to their own exploitation.
The best way to DCA is to buy a miner, plug it in, and forget about it.
Inflation is necessary to maintain the illusion that a stagnant post-industrial economy is always growing.
As long as people believe “always go up,” they are willing to pump their capital and leverage their earnings into assets managed by the financial, insurance, and real estate sectors.
Every one of these transaction and interest payments is an economic rent, extracted from the masses under the guise of helping them to invest.
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Feudal Lords became controllers of capital in the finance, insurance, and real estate sectors.
Rent extraction and debt servitude are every bit as real, but their existence is masked by effective rhetoric, nationalist fervor, and rebranding of capital-serving concepts as beacons of liberty and democracy.
Monty Python: Dennis’s insight garbed in humor
Specifically, one where regular people have no choice but to enter via their pensions, where they are penalized if they withdraw earlier than retirement age, and where the top percentile can speculate with those peoples money and pull out at any time.
Those nearest to the money printer, and who have longest fed those who manage it, stand to have their risks adopted and passed on to the masses.
Banks don’t fail. Bank losses are socialized. Privatization of profit and socialization of risk. That’s called capitalism.
There should be nothing old-school about knowledge. Many develop their world views from a flood of memes, quotations, and posts. This gives them enough understanding to live in chronic argument with others, but not enough to consider complex questions around a topic. Anything worth understanding cannot be communicated with such concision. I have yet to meet a wise person who was not a voracious consumer of quality books
The most effective system of exploitation is the one that convinces its victims that it does not exist, and that they should aggressively defend its existence to their own detriment.
The very system is designed for the exploitation of workers.
Excellent. Concise.
My friend is fearful of airplanes crashing, mass shootings, and flesh eating bacteria outbreaks.
I am fearful of car wrecks, stepping on things left in the hall, and heart disease.
Our perception of risk is designed for us by the information we choose to digest…and by those who profit from our complicity
Such reporting only serves as a metric to help the US banking system and corporations to prioritize countries by their potential for wealth extraction. GDP would never be the chosen metric for a community that really took an interest in the successful development of a culture.
“I don’t indulge Noam Chomsky’s wisdom on power or capital … because his statement on vaccines offends me.
I don’t listen to Plutarch’s theories on how to properly educate a child … because he had young male consorts.
I don’t read JS Mill’s philosophy about personal liberties … because he thought all nations were inferior to England.
I don’t choose to learn about my own enslavement by corporations from Michael Hudson … because he challenges the myths about capital that I hold so dear.
I live without understanding, because I am comfortable with the things that I already know.”
Ahhh … the ad hominem fallacy. To deny ourselves a wealth of wisdom by citing a personality trait or belief to which we take offense.
When our opinions spoil our learning.
I sense that the most dogmatic adherents to any ideology have an underdeveloped appreciation of what that ideology actually is.
We should adhere to virtues, and to systems that advocate for them. Packaged collections of meaning and symbols serve only to create camps that impair understanding and communication between us.
Good book recommendation. The description on Amazon (of course) makes this one seem well worth my time. Purchased 👍
I raise you Michael Hudson’s Killing the Host and Noam Chomsky’s Consequences of Capitalism.
Orange-pilling at work today. I have the sort of job where people are stuck in a room with me and cannot leave. Once they open that Bitcoin door for me…they can’t get away.…