I, too, believe that our

I, too, believe that our whole ponsi-economic system is about to implode; it's just a matter of when. I, too, had that queesy gut feeling years ago but now my guts are rumbling. It seems to me that our government/economic elite are a bunch of psychopaths.

yes, the worst is yet to come

Mair raises issues that go way beyond “the West’s economic system”; it is universal.

And he’s right when he claims there is a common factor, but the sequence laid out needs rearrangement.

Let’s not put the cart before the horse. The more likely order of events should read: “… they've lied through their teeth …” and as a result “… have failed to monitor and regulate properly …”

If viewed this way it removes that gray area of whether it was or was not deliberate, and it becomes apparent that governments are complicit in criminal cover-ups.

But even if we view it this way it doesn’t get around the fact that the voters prefer liars. They don’t want to be told the truth.

At this point in socioeconomic evoltion … through which most societies function … some are finally recognizing that the branch of the evolutionary tree we’ve chosen to follow is a dead end and there’s little we can do to change that fact.

Imagine the anxiety and chaos that would erupt if folks tried changing their thinking about the need for economic and population growth, began questioning their market place behaviours and agreed that the environment comes first.

Krugman

As samuidave notes above, Krugman, sadly, was right. The stimulus was too small and now the backlash against the deficit may result in a double-dip recession, the same as in 1937. History is repeating itself. The conservatives who created this mess are probably going get back into power. They sowed the seeds of this disaster with Ronald Reagan and Margaret Thatcher 30 years ago. Government, they said, was the problem. Deregulate the market and let it rip, let the rich get richer, break the unions, etc, etc. That resulted in flatlined real incomes for the middle-class, a destitute underclass, and deficits as far as the eye can see. Conservatism in action is not pretty.

Of dead ends and things I....

"...some are finally recognizing that the branch of the evolutionary tree we’ve chosen to follow is a dead end and there’s little we can do to change that fact." wrote KWD.

First, what tells me that the "free market system" is in terminal demise here, soon to be fed upon by their own dreaded and self-created scavenger of free markets, "deflation", is that all the systems "capitalist" solutions, even looked at from their own "objective" self-interest, are wrong and destined to produce the opposite result. Deflation, to the capitalist, is simply falling prices, and that is what they focus upon.

The reality is, however, that deflation is but one link in the causal chain. It starts with all the cuts to purchasing power that they have been robbing from the working class wage packet, through added working class expenditures for "the system's" savaging of the social safety net, and a taxation burden shifted more and more to them from the wealthy. The net effect of which, because they fail to fully appreciate that the worker is also the major consumer, savages his and his family's ability to actually purchase/consume his precious increased productivity. And when that begins to back up, and the critical final step in the capitalist free market system fails. it languishes upon store shelves and in warehouse unpurchased. There is no consumption. It is unaffordable. The pressure builds to critical mass and prices have no choice but to "deflate". tTypically which occurs in an atmosphere of "free market" panic... to recover investment and share, in any amount possible, even a portion.

It is not rocket science. It is really elementary, dear Watson.

And all aid and largesse assistance is still going to the "top", being siphoned off ever more from the bottom of the socio-economic and class structure, further exacerbating the really critical purchasing power crisis at the "bottom", and driving it toward collapse.

In short, capitalism is failing AGAIN, by the death of a thousand cuts... at its own hand.

Continued next post...

Of dead ends and things II...

From previous post...

What KWD describes in the quote at the start here, is essentially correct. We are on a dead end evolutionary branch of the historical tree here, and in more than strictly "free market" economic terms. This reality can't be changed under current socio-economic circumstances. We have to exit this friggin' branch posthaste, and strike off in quite another direction. A task necessity to which "democratic socialism", as they used to call themselves, here, then there "social democracy", such as the NDP, is frankly ill suited. It buys into the free market bullshit, if necessary, guided and assisted, as at present, by the bourgeois notion "parliamentary status quo State".

Whereas such as myself says, we need to strike off in quite another direction, STARTING with a "democratic" economic system controlled and guided from "the bottom", not another elite "top". Give ordinary folks that power, control of the social product wealth themselves, and the politics will take care of itself. As for the environment... population and resource demand reduction, which I agree are absolutely critical to any kind of future, egalitarian solutions for shared pain and gain will ease the pain and at least, make it all more fair.

The "classism" of capitalism is only tolerable with more and more materialism, its baubles, gadgets and beads. It quickly becomes intolerable under conditions of restraint and economization of resources etc. It needs to be gone, yesterday.

there ain't no such thing as "fair"

“… egalitarian solutions for shared pain and gain will ease the pain and at least, make it all more fair.”

Imagine the joy to be had while sitting around the communal, corrogated-iron-sheltered campfire, while roasting the latest environmental road kill and slowly sipping the last few ounces of the best double malt in the rapidly disappearing liquor supply. And imagine being able to share that experience with everyone from the Animal Farm: the Campbells, Harpers, Conrads, Greenspans, Soros’ and maybe even a few Suzukis.

Afer all; fair is fair, and everyone is equal ... well, almost … some of us are more equal than others

Cute....

I disagree. I think there is a legitimate concept called "fair", and we all know it and recognize it when we see it, and when we don't. You are merely attempting to be cute semantically, as the word "cute" was used in this context during "our" parent's time. Your argument is a kind of attempt at pseudo-intellectual sophistry, or, "an attempt to be clever with fallacious arguments."

That said, :-) I do recognize that it is cynically fashionable in some "clever" circles, and amongst the right wing, to attempt to discredit the concept of "fairness", and belittle its attainability. I would counter that while nothing, or at least near nothing is "absolute", certainly greater or lesser "fairness" in social AND economic affairs has existed in the past, and is attainable to the satisfaction of "most" human beings... save pseudo-intellectual navel gazers and sophists. :-)

Mind...

the "notion" of "fair" is certainly a human intellectual construct, that typically, in practical socio-economic terms thus far, has to be fought for and won. And if you are not prepared to do that, you are unlikely to get it, and you may not even then be said to "deserve" it.

To secure this fairness however, "power" is likely the critical weapon you must have to hand. You must possess "power" by one or another means or form to ensure that you get what you perceive as your "legitimate share". No "power" share, no "fairness" otherwise, in the greater likelihood. (Which was the founding recognition/principle of trade unionism, in my experience and read of the history.)

And "power" seems to rightly belong to this with the courage and mass to simply "take it.", by whatever means. My view. :-) As in, very often power does, in fact, come out of the barrel of a gun, however much that notion/reality may offend some. Not "necessarily" perhaps, but certainly on the basis of the empirical historical evidence, very often.

Regrettable as may be, still true. And this is just a for the sake of "intellectual argument" we are having here, of course. :-)

Fairness does not seem to go naturally to the candyass.

Fair?

"All animals are equal, but some animals are more equal than others." -G. Orwell

Says it all, doesn't it?

for the sake of argument

you can't win or lose a construct. It's a creation of the mind: an abstraction.

Yes there is a legit concept called fair and it’s usually associated with games, rides and jestors :-)). Any other use of the word is problematic and, in your jargon, illegitimate.

“Fair”, when used to justify or condemn some pain or pleasure-ridden state of (in)equality of access, is based on the distortional thinking that wants to believe the judgments about whether or not wealth is distributed (un)equally are real.

Fair, in this usage, is a judgment. All judgments have their origins in pain or pleasure, and they are used by the explicit mind as it attempts to explain the unexplainable.

the real message behind statements of fairness

When folks use the words “fair” or "not fair", they are usually telling me they are happy or angry. What they aren’t telling me is why.

More intellectual sophistry...

I'll leave it at that. I think most folks outside of cynical intellectual sophisticates know about the desirability of fairness in life, as a distinctly human construct to be sure, between men and women and various social strata etc, outside of male gaming notions. :-) I concede though, that it is fashionable in late capitalism, especially amongst some groups of males and in the bourgeois controlled marketplaces of labour and "stuff", to eschew and mock notions of "fairness". Which continue to have to be fought for by the masses of people in social relations. And it is fashionable for some intellectuals as well, to take on these cynicisms of "the system". (The ruling ideas of any age tend to be the ideas of its ruling class. K.Marx)

We will just have to disagree on this matter. :-)

Anarchism does not equal the Black Bloc

Please, Rafe, do not confuse the anarchist movement with the Black Bloc. They are only a small minority of the movement. Though I can understand their anger, I do not agree with their tactics. But this disagreement does not mean I am in favour of attacking them either. Save our attacks for the real enemy...

It is indisputable that...

...the stimulus offered up was not stimulus at all. It was allegedly top-up money for the big players causing the problems -- banks and global corporatists.

We were robbed, plain and simple. In your face theft from the bottom to the top, and with the smiling faces of Obamas and Harpers and the rest of the filthy lot trying to sanitize the entire matter.

In my world, these guys would all be on a chain gang doing hard labour till they drop.

middle class

strive to be middle class.
that has been a big problem too.
upper middle class, lower middle class and working poor.
big differences.
people so caught up in consummerism and carving their own slice of the cake that they have no concern about who gets the crumbs.
the minimum wage has remained so low it is criminal.
All this from Christians?
Like, put a box or 2 of Kraft dinner in the foodbank box at Christmas, eh. And go shop.

Rafe Presents

a good wide overview of our financial system. Two more "dots" not mentioned should be noted as basic problems, neither of which are likely to be reformed, unfortunately.

One is that the stock market has become just another gambling den, more Vegas and Atlantic City than Wall St. or Bay St. or Fleet St. The original purpose of a stock market was to allow an investor to financially back a project if he could be convinced of its viability. Now the fast and furious trading, especially in "shorting" a stock, has resulted in traders taking unjustified risks and putting ordinary investors into jeopardy. Perhaps the way to avoid this pitfall would be be legislate that stocks and bonds purchased today must be held for a period of six months or so before they can be re-sold.

The second error society has made is giving "economists" the trust and admiration formerly granted to "men of the cloth." In olden days the purpose of Man was to give adoration to God. Nowadays we allow The Economy" to take the place of the Deity, making it the be-all and end-all of everyday living.

The Ten Commandments start out with "You shall not have strange gods before Me," but now the "Me" is the economist. And under his law Profit is the primary purpose of business. So BP is justified in cutting corners in order to maximize profits. And I've already heard that argument in real life. The feet of clay are firmly planted at the bottom of the GoM.

Save Attacks for Real Enemy...

"I do not agree with their tactics. But this disagreement does not mean I am in favour of attacking them either. Save our attacks for the real enemy..." wrote anarcho

My attitude exactly, Anarcho. We will almost certainly yet have need of each other.

Lower Income?

Anyone with lower income will get an HST rebate as long as they file a tax return every year, so I don't think it's right to generalize like you have done in the second paragraph Rafe.

Thank you Tyee for having a

Thank you Tyee for having a free speak and democrtaic approach.

Nice read, Mr Rafe Mair.

I sure hope the worst is yet to come. I hope it means riots in the streets and politicians and the like removed once and for all.

I know people so mad that they have looked up how to make explosives on the website.

Suprizing what you can find to make on the website.

If we need riots and more hand to hand combat then so be it.

Maybe bring along a guillotine that they used to use in France. Might have more impact that words could ever say.

Any way we are all fed up right, now what are we gonna do about it.

All words and no action will continue the government carnage.

We do not need to generalize people, We need action now.

United we stand and go forward or divided we fall.

@Community Guy in re of HST rebates

The big HST rebates go to corporate and business interests - on the scale of 1.9 billion dollars a year for the BC economy.

Anyone who compares the niggardly personal quarterly rebates to low income people (money THEY had to spend to buy the goods and services they need to LIVE) with the latest Campbell payoff to his business friends and neighbors simply hasn't been paying attention.

GET OFF OUR ASSES

we got over 700,000 votes on the "Fight HST Campaign" so why can't we make a change in our corrupt political system? There are alternatives out there!

austerity=war on the people

It is no coincidence that the gov't gifted the police with lots of shiny new toys of oppression and lots of overtime so the anonymous blackclad police thug will have a smile on his face thinking about all that overtime pay while clubbing protestors over the head. It is no coincidence that the govt armed itself against the people before declaring war on the people. Make no mistake "austerity" means war on the people.

HST Rebate

Perception is a funny thing to some folks isn't it?. As a lower income citizen I can tell you that the HST rebate is well in a word... a farce. Why, you might think?. Think back to the 2010 BC budget, remember when Campbell & Co cut much needed resources from disability and the like. Most people affected experienced a cut to their budgets at about $240.00 per year, then the HST debacle and Hansen's lies. People who have less will have even less now. One does not simply cancel out the other Mr Hansen as there is still an increase (almost 7%) to goods and services. Campbell & Co cannot even get their lies straight.