Debt is Pushing the US Into Fascism

georgephillip

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Is the US borrowing its way to Fascism?

20th century versions of the merger of state and corporate power (Germany, Japan, Italy, and Spain) interacted differently in each country's particular history and conditions.

If it comes here, the Federal Reserve will play a key role:


Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Today’s crisis-ridden capitalist economy is more dependent on credit than at any time in the system’s history.

"More than ever, credit sustains the purchasing power of consumers and of government programs.

"Capitalists depend on that purchasing power..."

"Once it was mostly private entities—rich families, banks, insurance companies, and pension funds—that were the chief lenders to corporations. They bought and held the corporate bonds and IOUs.

"Now those private lenders increasingly sell their corporate bonds to the Federal Reserve.

"That happens when the corporate loans get packaged into asset-backed securities sold to the Federal Reserve.

"More recently, the Fed has undertaken the market purchase of exchange-traded funds (ETFs) composed of corporate bonds and of corporate bonds direct from their private issuers."

Some Things Never Change
1599859141961.jpeg

Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe
 

Gdjjr

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Nah- you're just being a nay-sayer acting hysterically- what's a few trillion dollars amongst friends (and enemies)- ain't no thang-
 
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georgephillip

georgephillip

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"The Ten Commandments were about debt

"People tend to think of the Commandment ‘do not covet your neighbour’s wife’ in purely sexual terms but actually, the economist says it refers specifically to creditors who would force the wives and daughters of debtors into sex slavery as collateral for unpaid debt."

Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe

Oligarchies make themselves into hereditary aristocracies which are ultimately overthrown when some families decide to erect a "big tent" and usher in democracy by taking the multitude into their camp.

Debt has been the driving dynamic of these transformations.
It polarizes wealth to create a creditor class which uses government to rule over debtors.
It has been happening here for the last 50 years.
 

JakeStarkey

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You mean 'socialism', georgephillip.
 
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georgephillip

georgephillip

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Nah- you're just being a nay-sayer acting hysterically- what's a few trillion dollars amongst friends (and enemies)- ain't no thang-
Debts that can't be paid...:eek:

The State of the American Debt Slaves, Q1 2020: How Are Consumers Positioned Going into the Crisis?

"Consumer debt – student loans, auto loans, and revolving credit such as credit cards and personal loans but excluding housing-related debts such as mortgages and HELOCs – jumped by $153 billion at the end of the first quarter, compared to Q1 a year earlier, or by 3.8%, to $4.15 trillion (not seasonally adjusted), according to Federal Reserve data."
 

Dick Foster

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Is the US borrowing its way to Fascism?

20th century versions of the merger of state and corporate power (Germany, Japan, Italy, and Spain) interacted differently in each country's particular history and conditions.

If it comes here, the Federal Reserve will play a key role:


Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Today’s crisis-ridden capitalist economy is more dependent on credit than at any time in the system’s history.

"More than ever, credit sustains the purchasing power of consumers and of government programs.

"Capitalists depend on that purchasing power..."

"Once it was mostly private entities—rich families, banks, insurance companies, and pension funds—that were the chief lenders to corporations. They bought and held the corporate bonds and IOUs.

"Now those private lenders increasingly sell their corporate bonds to the Federal Reserve.

"That happens when the corporate loans get packaged into asset-backed securities sold to the Federal Reserve.

"More recently, the Fed has undertaken the market purchase of exchange-traded funds (ETFs) composed of corporate bonds and of corporate bonds direct from their private issuers."

Some Things Never Change
View attachment 387406
Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe
Well in that case you'd better pack your shit and schedattle to go live in one of your examples of collective success like Venezuela or maybe North Korea. No one is keeping you here, in fact we'd love it if you got the hell out, so STFU and do it.
 
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georgephillip

georgephillip

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You mean 'socialism', georgephillip.
Do you see any evidence of socialism happening in the US over the past half-century?

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Fascism merges private capitalism and the state. Political power then enforces capitalism’s basic rules: the economic dominance of the major shareholders and their top directors and managers. In fascism, that dominance extends from economic to also political and cultural realms of social life."
 

Invisibleflash

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Is the US borrowing its way to Fascism?

20th century versions of the merger of state and corporate power (Germany, Japan, Italy, and Spain) interacted differently in each country's particular history and conditions.

If it comes here, the Federal Reserve will play a key role:


Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Today’s crisis-ridden capitalist economy is more dependent on credit than at any time in the system’s history.

"More than ever, credit sustains the purchasing power of consumers and of government programs.

"Capitalists depend on that purchasing power..."

"Once it was mostly private entities—rich families, banks, insurance companies, and pension funds—that were the chief lenders to corporations. They bought and held the corporate bonds and IOUs.

"Now those private lenders increasingly sell their corporate bonds to the Federal Reserve.

"That happens when the corporate loans get packaged into asset-backed securities sold to the Federal Reserve.

"More recently, the Fed has undertaken the market purchase of exchange-traded funds (ETFs) composed of corporate bonds and of corporate bonds direct from their private issuers."

Some Things Never Change
View attachment 387406
Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe
I'd say dems are pushing up to fascism. But agree dept is out of control.

Democrat party 2020 lr.jpg
 

Invisibleflash

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You mean 'socialism', georgephillip.
Do you see any evidence of socialism happening in the US over the past half-century?

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Fascism merges private capitalism and the state. Political power then enforces capitalism’s basic rules: the economic dominance of the major shareholders and their top directors and managers. In fascism, that dominance extends from economic to also political and cultural realms of social life."
Just lots of talk and violence by filthy dems. But that is how it starts. And OP did say 'pushing us.'
 

bripat9643

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You mean 'socialism', georgephillip.
Do you see any evidence of socialism happening in the US over the past half-century?

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Fascism merges private capitalism and the state. Political power then enforces capitalism’s basic rules: the economic dominance of the major shareholders and their top directors and managers. In fascism, that dominance extends from economic to also political and cultural realms of social life."
You just described the Democrat party.
 
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georgephillip

georgephillip

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I'd say dems are pushing up to fascism. But agree dept is out of control.
Elite Democrats serve the same ten percent of voters as Trump does, namely their investor class which is roughly the richest ten percent, i.e., the creditor class.

For thousands of years creditors have enslaved debtors in order to maintain their golden lifestyles.


Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe

"'To understand the crucifixion of Jesus is to understand it was his punishment for his economic views,' says Professor Hudson. 'He was a threat to the creditors.'

"Jesus Christ was a socialist activist for the continuity of regular debt jubilees that were considered essential to the well being of ancient economies."
 
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georgephillip

georgephillip

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You just described the Democrat party.
Actually I just described the latest crisis of capitalism...

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Perhaps we should call this latest phase: 'state financialisation.'

"The state’s central bank has become ever more important in controlling the conditions and pathways of credit in capitalism.

"That has been increasingly evident as capitalism lurched from the 2000 dot-com crisis to the 2008 subprime mortgage crisis and since.

"Credit provision by the Federal Reserve is now crucial to U.S. capitalism’s passage through the COVID-19 megacrisis and beyond. It is crucial to capitalism’s very survival."

Kill the corporation.
Before it kills us.
 

bripat9643

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You just described the Democrat party.
Actually I just described the latest crisis of capitalism...

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Perhaps we should call this latest phase: 'state financialisation.'

"The state’s central bank has become ever more important in controlling the conditions and pathways of credit in capitalism.

"That has been increasingly evident as capitalism lurched from the 2000 dot-com crisis to the 2008 subprime mortgage crisis and since.

"Credit provision by the Federal Reserve is now crucial to U.S. capitalism’s passage through the COVID-19 megacrisis and beyond. It is crucial to capitalism’s very survival."

Kill the corporation.
Before it kills us.
You keep blaming capitalism for the creations of the federal government
 

Gdjjr

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Capitalism is guilty of nothing- blaming capitalism is like blaming guns because somebody gets shot.

It could be argued that our debt isn't really capitalism- except that the fed gov't makes US Fed Reserve Notes Legal Tender- the Legal Tender is just "official" fake money. It's value is based solely on the fruit of producers of wealth output.
Capitalism is merely a means of placing a value on goods and services - the fed reserve determines the value of its fake money, not the market, which is where questioning the use of the word capitalism comes from. A Free Market, influenced by consumer activity, has to have "capitalism" as its main tool to work. Since we don't have a Free Market funny money works instead. We operate under a keynesean economic derivative which is a Top Down economic system, the Top being the fed gov't, which I doubt the Founders envisioned in the Founding.

The MSM bad mouths capitalism when their guy isn't in control- imagine that. A blatantly biased media being stupid- and they call themselves higher educated- SMH. It ain't rocket science but does require thinking, which the media doesn't seem to be capable of.
 
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georgephillip

georgephillip

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You keep blaming capitalism for the creations of the federal government
Capitalism's survival in the US requires massive government, household, and corporate debts and their monetization by the Federal Reserve; without the federal government, there is no US capitalism.

Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"The system is teaching its elites about the need for transition now from capitalism to fascism. Only for many of those involved, that transition is not yet quite conscious or visible.

"Fascism is what happens in capitalism when employers feel that (1) their system’s accumulated problems exceed its capacity to solve them and (2) strong (often dictatorial) state intervention is needed for the capitalist system to survive."
 

kaz

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Is the US borrowing its way to Fascism?

20th century versions of the merger of state and corporate power (Germany, Japan, Italy, and Spain) interacted differently in each country's particular history and conditions.

If it comes here, the Federal Reserve will play a key role:


Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Today’s crisis-ridden capitalist economy is more dependent on credit than at any time in the system’s history.

"More than ever, credit sustains the purchasing power of consumers and of government programs.

"Capitalists depend on that purchasing power..."

"Once it was mostly private entities—rich families, banks, insurance companies, and pension funds—that were the chief lenders to corporations. They bought and held the corporate bonds and IOUs.

"Now those private lenders increasingly sell their corporate bonds to the Federal Reserve.

"That happens when the corporate loans get packaged into asset-backed securities sold to the Federal Reserve.

"More recently, the Fed has undertaken the market purchase of exchange-traded funds (ETFs) composed of corporate bonds and of corporate bonds direct from their private issuers."

Some Things Never Change
View attachment 387406
Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe
Um ... where does the fascism part come in?
 

kaz

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"The Ten Commandments were about debt

"People tend to think of the Commandment ‘do not covet your neighbour’s wife’ in purely sexual terms but actually, the economist says it refers specifically to creditors who would force the wives and daughters of debtors into sex slavery as collateral for unpaid debt."

Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe

Oligarchies make themselves into hereditary aristocracies which are ultimately overthrown when some families decide to erect a "big tent" and usher in democracy by taking the multitude into their camp.

Debt has been the driving dynamic of these transformations.
It polarizes wealth to create a creditor class which uses government to rule over debtors.
It has been happening here for the last 50 years.
Um ... sex slavery? Did you fall and hit your head?
 

harmonica

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Is the US borrowing its way to Fascism?

20th century versions of the merger of state and corporate power (Germany, Japan, Italy, and Spain) interacted differently in each country's particular history and conditions.

If it comes here, the Federal Reserve will play a key role:


Richard D. Wolff - The U.S. Is Borrowing Its Way to Fascism | Brave New Europe

"Today’s crisis-ridden capitalist economy is more dependent on credit than at any time in the system’s history.

"More than ever, credit sustains the purchasing power of consumers and of government programs.

"Capitalists depend on that purchasing power..."

"Once it was mostly private entities—rich families, banks, insurance companies, and pension funds—that were the chief lenders to corporations. They bought and held the corporate bonds and IOUs.

"Now those private lenders increasingly sell their corporate bonds to the Federal Reserve.

"That happens when the corporate loans get packaged into asset-backed securities sold to the Federal Reserve.

"More recently, the Fed has undertaken the market purchase of exchange-traded funds (ETFs) composed of corporate bonds and of corporate bonds direct from their private issuers."

Some Things Never Change
View attachment 387406
Renegade Inc - Michael Hudson: He died for our debts, not our sins | Brave New Europe
the only ''''fascists'''' are the Dems/blacks

''''' forcible suppression of opposition'''' =UNDENIABLY the Dems/blacks
there are MANY examples of this
.
 

harmonica

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....the leftists/blacks ARE nazi fascists--just like the Russian hierarchy were not communists--they did not live a communistic life..they had communistic policies, but they did not LIVE a communistic lifestyle
 

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