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breakingnews
Capital Account - 12/2/11
New jobs numbers are out but don't be fooled by the drop in unemployment to 8.6 percent. More than half of that is people leaving the labor force entirely. Discouraged workers. People who have given up looking. This is the U3 number. Still, unemployment has not
been this high for this long since monthly unemployment records began in 1948. Meanwhile, the MF Global plot thickens. Now that the firm has collapsed regulators are considering new rules restricting the use of customer money for brokerages. Now, the regulator, the commodities futures trading commission (CFTC( wanted to finish the new rules earlier this year but was delayed. Why? Heavy lobbying from MF Global chief executive Jon Corzine!
So, with all of the problems in the world today, how do people begin to think about, let alone implement solutions that can improve their lives and those of others in society? Economists like Steve Keen support debt jubilees, others like Lew Rockwell and Ron Paul support sound money as the solution, but what about something more radical? What about getting grid of money, profit and competition all together? Well, Peter Joseph, author of the Zeitgeist series, believes that society can evolve to do just that. He joins us during the show to talk about the role of debt, the monetary system, and social norms that encourage what he views as inefficient and destructive behavior that does more harm for society than good.
December, 2011
5 17:09
I don't agree...
Capitalism as it is meant works fine for a maximum number of people. However stop calling the current paradigm capitalism, it isn't. It's either corporatism, fascism or cronyism.
You are a living person,
You own yourself,
Therefore, taxation is slavery, as it assumes ownership of someones productive time.
The same thing goes for inflating the money supply, you cannot do that in a true capitalist system.
Remember, even most people below the poverty line in the USA probably have many dozens of times more assets and capital then the average poor guy in India... This is caused by cronyism. Capitalism with simple rules, not multinational-profiting-regulations, would give current third world countries great wealth as they export their goods and services.
It has been said so many times before, but it's capitalism for the rich and socialism for the poor... It's time to level the playing-field as far as I'm concerned. I'd say we kick out the cronies, and try true capitalism, which I think comes very close to the Zeitgeist movement ideology, but I'd have to say more realistic at this point.
PS: I forgot to add;
The whole ownership thing is the problem. Copyright is a major player in this. In true capitalism, copying something would not be a problem as this greatly improves innovation (without war). However, copying something and claiming it IS the original, is fraud and not allowed, simply because it's lying to make a profit; you don't need any more laws.
I agree GRTZ, its all about corporatism. Interesting show this week but despite its flaws the monetary system can never be replaced, As long as people still desire riches and power, they will always fight for resources and control, creativity might keep some folks happy but it wont become a means to trade unless you can live off ideas. I think I'm still working through this one. Good show!
Lauren,
Great show on Friday 12/2/11. I was waiting to hear Peter Joseph's ideas. He is right, we are going through a period of radical social change because our human created political and economic systems need an overhaul. Hey, come on we can do it. Mr. Joseph pointed out that the individual's concern will have to become the concern of the many. I think Steven Colbert on Comedy Central said it the best, "Hey, capitalism works great for 1%" and yes, Mr. Joseph, I know, the 1% plays the game very well, but they got a few breaks too. But we agree its time for a game change.