Capitalism without competence and feudalism without nobility...

5fish

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This article is a lamination of the two parties and our Oligarchic Democracy...


Ultimately, the question that will determine the future of American politics is whether the rest of the elite will consent to their continued proletarianization only to further enrich this pathetic oligarchy. If they do, future historians of American collapse will find something truly exceptional: capitalism without competence and feudalism without nobility.

What is remarkable about today’s oligarchy is not its ruthlessness but its pettiness and purposelessness. An all-consuming megalomania might at least produce some great art as a side-effect. But this collection of mediocrities cannot even do that. Their political activities—whether pushing for a slightly lower tax rate or throwing money at a self-serving brand of faux progressivism—are too small-minded to be anything other than embarrassing. This class has no idea what to do with its wealth, much less the power that results from it. It can only withdraw and extract, socially and economically, while the political justifications for its existence melt away.
 

jgoodguy

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This article is a lamination of the two parties and our Oligarchic Democracy...


Ultimately, the question that will determine the future of American politics is whether the rest of the elite will consent to their continued proletarianization only to further enrich this pathetic oligarchy. If they do, future historians of American collapse will find something truly exceptional: capitalism without competence and feudalism without nobility.

What is remarkable about today’s oligarchy is not its ruthlessness but its pettiness and purposelessness. An all-consuming megalomania might at least produce some great art as a side-effect. But this collection of mediocrities cannot even do that. Their political activities—whether pushing for a slightly lower tax rate or throwing money at a self-serving brand of faux progressivism—are too small-minded to be anything other than embarrassing. This class has no idea what to do with its wealth, much less the power that results from it. It can only withdraw and extract, socially and economically, while the political justifications for its existence melt away.
Generally speaking when elites get more expensive than what they add to a society, they get overturned. I think they are idiots because they are in a consumption driven society/economic system and are trying to eliminate the consumers.
 

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You know Reagan and the Republicans are MMT believers without knowing it .... They believe in running deficits to cause growth... MMT ...

 

jgoodguy

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You know Reagan and the Republicans are MMT believers without knowing it .... They believe in running deficits to cause growth... MMT ...

deficits what deficits.

OTOH double digit interest rates on long term treasury bonds might be a deterent.
 

jgoodguy

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How the rich hose us.

Come on now, they are not going to bring top hats and spats back, though they did not learn from history.

Trump is saying that in 100 years we will thank him for all of this.

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jgoodguy

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“But no modern empire has ever successfully projected power globally without a competent and motivated bureaucracy. The late Harvard political scientist Samuel P. Huntington wrote that the more complex a society becomes, the more it needs institutions to run it. And this is especially true of an empire, which the United States has been in functional terms since 1945.”
 

jgoodguy

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Americans are learning to protest again.

 

5fish

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Here is an argument against a proper wealth tax. He states there are better and cheaper ways to ensure the wealthy pay their taxes ...

 

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jgoodguy

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It's a 20-minute video, but consider the path we are on as a nation... @jgoodguy , @rittmeister , @diane

Somewhat interesting, but looking at the black death which helped the average worker by making workers rarer, the same thing is happening now where outside of a few places, there is a population decrease. In recent history, big money in the US was buying up houses increasing their prices and forcing ordinary folks out of owning their house. It even extended to trailer parks. The problem was that with great wealth, it has to be invested in something and as the business cycle moves on, that wealth is invested in more risky investments. The current situation is that those investments are having to be liquidated at a loss.

Another problem I have is that in the past, wealth was in land and laborers had to work that land for their betters. Now wealth in in non physical assets.

The future is a mess with automation and AI replacing humans, the problem will be how to handle that. Even slave labor is more expensive than machines.
 

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Abundance book old ideas not a national path...

 
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