The Financial Takeover of Government

[EdwardBaiamonte]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

Funny = I have been defeated, cant respond, but will stay a liberal anyway because I don't care about reason!! Ever see a conservative who cant debate? What does that teach you?

"Classical economics was part of a reform process to bring Europe out of the feudal era into the industrial age.

"This required overcoming the power of the landed aristocracy, bankers and monopolies to levy charges that were unfair because they did not reflect actual labor or enterprise.

"Such revenue was deemed 'unearned.'

"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability..."

"The classical reform program of Adam Smith and his followers was to tax the income deriving from privileges that were the legacy of feudal Europe and its military conquests, and to make land, banking and monopolies publicly regulated functions."
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf

dear, nice cut and paste but can you tell us what your point is????

 

[georgephillip]

Who does the person buy the bond from, Wall Street?
How does that help a city?

dear, if a city needs to borrow money as all do, Wall Street often brings the borrower and lender together. This helps a city pave streets, keep lights on etc etc. The lender earns interest or unearned income for helping the city. This is not theft except to a liberal or to the insane. Do you understand now?

Funny = I have been defeated, cant respond, but will stay a liberal anyway because I don't care about reason!! Ever see a conservative who cant debate? What does that teach you?

"Classical economics was part of a reform process to bring Europe out of the feudal era into the industrial age.

"This required overcoming the power of the landed aristocracy, bankers and monopolies to levy charges that were unfair because they did not reflect actual labor or enterprise.

"Such revenue was deemed 'unearned.'

"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability..."

"The classical reform program of Adam Smith and his followers was to tax the income deriving from privileges that were the legacy of feudal Europe and its military conquests, and to make land, banking and monopolies publicly regulated functions."
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf

dear, nice cut and paste but can you tell us what your point is????

Our economy has been stood on its head.

Finance was suppose to serve industry and consumers, remember?

 

[georgephillip]

You still haven't explained why a city should be forced to borrow from economic parasites, have you?

dear, people, corporations, governments, schools, etc etc all borrow money!! If you think people who lend make too much money, thanks to our free system, you are free to lend at lower interest rates and drive them all into bankruptcy for their greed!!

Do you understand????????

Do you understand why banks make profits without producing value?

Marx did!
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf
"[W]hat Smith and Marx shared, critically, was the belief that it was entirely possible for an activity to be revenue- and profit-generative without actually contributing to the creation of value.

"There was no paradox.

"(Or rather, for Marx at any rate, the paradox was not that banks made profits without producing value, but that industrial capitalists allowed them to do so.)"

"J. P. Morgan and John D. Rockefeller are said to have called the principle of compound interest the Eighth Wonder of the World. For them it meant concentrating financial fortunes in the hands of an emerging oligarchy indebting the economy to itself at an exponential rate.

"This has been the key factor in polarizing the distribution of wealth and political power in societies that do not take steps to cope with this dynamic."

 

[EdwardBaiamonte]

Do you understand why banks make profits without producing value?

"

that would be like a farmer making money by not growing crops. The beauty of capitalism is that everybody would be a farmer if that was possible? Don't forget Marx killed 120 million with his pure ignorance. Imagine how slow you must be to pick him as your guru. Sad!!

 

[georgephillip]

Do you understand why banks make profits without producing value?

"

that would be like a farmer making money by not growing crops. The beauty of capitalism is that everybody would be a farmer if that was possible? Don't forget Marx killed 120 million with his pure ignorance. Imagine how slow you must be to pick him as your guru. Sad!!

"THE father of Major Major, a character in Catch 22, a novel by Joseph Heller, makes a good living not growing alfalfa. 'The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn’t earn on new land to increase the amount of alfalfa he did not produce.' Each day, Mr Major 'sprang out of bed at the crack of noon... just to make certain that the chores would not be done.'”
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

 

[CrusaderFrank]

Central banks could be used to free government from the need to borrow from private bondholders; however, budget deficits have allowed financial lobbyists to bribe politicians into reversing progressive taxation and cutting taxes on capital gains.

"Instead of central banks monetizing deficit spending to help the economy recover, they create money mainly to lend to banks for the purpose of increasing the economy’s debt overhead.

"Since 2008 the U.S. Federal Reserve has monetized $4 trillion in Quantitative Easing credit to banks.

"The aim is to re-inflate asset prices for the real estate, bonds and stocks held as collateral by financial institutions (and the One Percent), not to help the 'real' economy recover."

http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf(p.5)

All of this is in direct contradiction to classical free market principles which called for the population at large, acting through elected officials, to receive and allocate economic surplus.

All of this is in direct contradiction to classical free market principles which called for the population at large, acting through elected officials, to receive and allocate economic surplus??????????????????

What the fuck are you talking about? That's not Free enterprise

 

[EdwardBaiamonte]

Do you understand why banks make profits without producing value?

"

that would be like a farmer making money by not growing crops. The beauty of capitalism is that everybody would be a farmer if that was possible? Don't forget Marx killed 120 million with his pure ignorance. Imagine how slow you must be to pick him as your guru. Sad!!

"THE father of Major Major, a character in Catch 22, a novel by Joseph Heller, makes a good living not growing alfalfa. 'The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn’t earn on new land to increase the amount of alfalfa he did not produce.' Each day, Mr Major 'sprang out of bed at the crack of noon... just to make certain that the chores would not be done.'”
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

dear, can you tell us what your point is? Do you have any idea??

 

[georgephillip]

Central banks could be used to free government from the need to borrow from private bondholders; however, budget deficits have allowed financial lobbyists to bribe politicians into reversing progressive taxation and cutting taxes on capital gains.

"Instead of central banks monetizing deficit spending to help the economy recover, they create money mainly to lend to banks for the purpose of increasing the economy’s debt overhead.

"Since 2008 the U.S. Federal Reserve has monetized $4 trillion in Quantitative Easing credit to banks.

"The aim is to re-inflate asset prices for the real estate, bonds and stocks held as collateral by financial institutions (and the One Percent), not to help the 'real' economy recover."

http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf(p.5)

All of this is in direct contradiction to classical free market principles which called for the population at large, acting through elected officials, to receive and allocate economic surplus.

All of this is in direct contradiction to classical free market principles which called for the population at large, acting through elected officials, to receive and allocate economic surplus??????????????????

What the fuck are you talking about? That's not Free enterprise

Where did the fight for "Free Markets" begin?
"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability. Where hereditary rental and financial revenue supported the richest aristocracies, the tax burden was shifted most heavily onto labor and industry, in addition to their rent and debt burden."(p.9)

Do you know/care where the phrase "laissez faire" originated?
"Seeking to reform the French monarchy in the decades preceding the 1789 Revolution, the Physiocrats popularized the term laissez faire, 'let us be.'

"Coined in the 1750s to oppose royal regulations to keep grain prices and hence land rents high, the school’s founder, Francois Quesnay, extended the slogan to represent freedom from the aristocracy living off its rents in courtly luxury while taxes fell on the population at large."

http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf(p.20)

 

[georgephillip]

Do you understand why banks make profits without producing value?

"

that would be like a farmer making money by not growing crops. The beauty of capitalism is that everybody would be a farmer if that was possible? Don't forget Marx killed 120 million with his pure ignorance. Imagine how slow you must be to pick him as your guru. Sad!!

"THE father of Major Major, a character in Catch 22, a novel by Joseph Heller, makes a good living not growing alfalfa. 'The more alfalfa he did not grow, the more money the government gave him, and he spent every penny he didn’t earn on new land to increase the amount of alfalfa he did not produce.' Each day, Mr Major 'sprang out of bed at the crack of noon... just to make certain that the chores would not be done.'”
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

dear, can you tell us what your point is? Do you have any idea??

Some farmers make money without planting crops.
What's yours?

 

[EdwardBaiamonte]

Some farmers make money without planting crops.

dear, only stupid liberals in govt would be stupid enough to pay a farmer not to grow crops. In a Republican capitalist system you grow your crop and sell it on the free market at the market price . Do you understand now?

 

[georgephillip]

Some farmers make money without planting crops.

dear, only stupid liberals in govt would be stupid enough to pay a farmer not to grow crops. In a Republican capitalist system you grow your crop and sell it on the free market at the market price . Do you understand now?

How can you be so blind?
"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

"According to the Government Accountability Office, between 2007 and 2011 Uncle Sam paid some $3m in subsidies to 2,300 farms where no crop of any sort was grown.

"Between 2008 and 2012, $10.6m was paid to farmers who had been dead for over a year.

"Such payments explain why Tom Vilsack, the agriculture secretary, is promoting a rule to attempt to crack down on payments to non-farming folk.

"But with crop prices now falling, taxpayers are braced to be fleeced again."
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

 

[EdwardBaiamonte]

"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

 

[georgephillip]

"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

"American farm subsidies are egregiously expensive, harvesting $20 billion a year from taxpayers’ pockets. Most of the money goes to big, rich farmers producing staple commodities such as corn and soyabeans in states such as Iowa."
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

 

[EdwardBaiamonte]

"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

"American farm subsidies are egregiously expensive, harvesting $20 billion a year from taxpayers’ pockets. Most of the money goes to big, rich farmers producing staple commodities such as corn and soyabeans in states such as Iowa."
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

dear , everyone agrees that liberals support price supports while Republicans support the free market. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

 

[georgephillip]

"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

"American farm subsidies are egregiously expensive, harvesting $20 billion a year from taxpayers’ pockets. Most of the money goes to big, rich farmers producing staple commodities such as corn and soyabeans in states such as Iowa."
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

dear , everyone agrees that liberals support price supports while Republicans support the free market. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

Which "Republicans?"
And what "free market?"
http://store.counterpunch.org/wp-content/uploads/2015/08/Killing-The-Host_PDF_V7.pdf
"The original fight for free markets meant freeing them from exploitation by rent extractors: owners of land, natural resources, monopoly rights and money fortunes that provided income without corresponding work – and usually without tax liability.

"Where hereditary rental and financial revenue supported the richest aristocracies, the tax burden was shifted most heavily onto labor and industry, in addition to their rent and debt burden.

"The classical reform program of Adam Smith and his followers was to tax the income deriving from privileges that were the legacy of feudal Europe and its military conquests, and to make land, banking and monopolies publicly regulated functions.

"Today’s neoliberalism turns the word’s original meaning on its head.

"Neoliberals have re-defined 'free markets' to mean an economy free for rent-seekers, that is, 'free' of government regulation or taxation of unearned rentier income (rents and financial returns)."

Please stop demeaning yourself with silly apologetics for parasitic neoliberal rent seekers.

 

[EdwardBaiamonte]

Which "Republicans?"
.

dear, Sanders is an open socialist and Democrat who does not support capitalism or the free market. Republicans generally do. Do you understand?

 

[georgephillip]

Which "Republicans?"
.

dear, Sanders is an open socialist and Democrat who does not support capitalism or the free market. Republicans generally do. Do you understand?

Does Trump qualify as a capitalist or communist?
When he threatened Ford with a tariff??
"'Let me give you the bad news: Every car, every truck and every part manufactured in this plant that comes across the border, we’re going to charge you a 35 percent tax — okay? — and that tax is going to be paid simultaneously with the transaction,' Trump said in June, playacting a phone call with Ford’s chief executive.
Donald Trump’s contempt for the free market
"It’s a remarkable take on capitalism for a Republican, this vision of the president thuggishly telling private business managers what they can and cannot do with their property. And he calls Bernie Sanders a communist!"

Are jobs the property of private business managers?
Should they be?
Is the Donald a thug

 

[EdwardBaiamonte]

"It’s a remarkable take on capitalism for a Republican, this vision of the president thuggishly

why do you call it thugish when you say it is also a Democrat position? Think before you post

 

[EdwardBaiamonte]

"To this day, to be treated as a farmer in America doesn’t necessarily require you to grow any crops.

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

"American farm subsidies are egregiously expensive, harvesting $20 billion a year from taxpayers’ pockets. Most of the money goes to big, rich farmers producing staple commodities such as corn and soyabeans in states such as Iowa."
http://www.economist.com/news/unite...mers-grow-subsidies-instead-milking-taxpayers

dear , everyone agrees that liberals support price supports. You are repeating the obvious and congratulating yourself for it. When you are proud to know that 1+1=2 others will think you are slow. Do you understand?

 

[georgephillip]

"It’s a remarkable take on capitalism for a Republican, this vision of the president thuggishly

why do you call it thugish when you say it is also a Democrat position? Think before you post

Do you consider Donald Trump a Democrat?