Wednesday, February 28, 2018

COTW: I'm OK, You're NOT

US Person posted previously about the cruel deception at the heart of the "American Dream": a lifetime of work will assure you a comfortable lifestyle with all of your basic needs met. A corollary is that higher education will allow you to reach that goal more easily with higher paying employment. The following chart shows that is not necessarily the case in a finance capital economy wherein labor has been reduced to a commodity, and economic policy is intended to deliver more and more profit to an elite that accumulates obscene wealth at compound interest rates:


This economically distorting accumulation of capital is reflected in a "stock market 1 million" mentality, which pushes financial markets to unimaginable heights (150% of GDP) that can vanish in a day:


Society could be transformed into a saner, safer, equitable and economically more stable one by directing capital into productive and socially valuable uses.  But that concept is "out of bounds" and derided by "responsible commentators" as socialist or even worse, communist.  The libertarian movement--equivalent to fiddling while Rome burns--is not a solution to society's growing ills, rather it is a perverse distortion of reality.