AuthorTopic: BotWave  (Read 968 times)

Offline JRM

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Re: BotWave
« Reply #15 on: February 21, 2017, 11:37:29 AM »
That's why unemployment will ONLY go up and up and up.  Corporate profits, meanwhile, will also be going up and up and up ... until which point as no one can any longer afford to purchase anything those corporations produce -- which will be coming soon, I assure you.

We are already at this point.  Exxon-Mobil is not making a profit, Amazon is not making a profit, Elon Musk is not making a profit either!

The way the game is being perpetuated is with ever expanding irredeemable debt.  This bubble will burst at some point.

RE

I wasn't aware of this about Exxon-Mobil or Amazon!  Shocking!  Really?!?   Please explain.

All large industrial corporations function by issuing out debt, quite similar to Goobermint really.  Steve (Economic Undertow) explains this stuff in more detail than I can.  I just look at it from big picture, he examines the details.

At any rate, here is what is ongoing with the Exxon Debt Ratio:


You'll find the same type of chart if you look at any energy company or any retail company too, they are all increasing leverage, which is synonymous with levering more debt.  None of them are making organic profit, they survive by increasing the leverage.

This is what I did when I was on Wall Street.  I know my math, trust me.  Nobody is "making money" at this level anymore.  In fact they never did, but as long as resources were plentiful, it seemed so.  Now it is just digging a bigger hole all the time.

RE


In lots of ways we're all out on a smallish ship and there are massive waves and a big storm... it's dark... rain is pouring... we're reading by candlelight and our dinner his shifting this way and that on the rocking table.

So we have to cut to the chase a lot of the time.

I'm going do do this with banking now.

Banks are members of a community.  But they don't think they are, nor behave as if they are.  Whatever befalls the banks befalls the rest of us on this swaying, rocking ship of community.  When banks take great risks, they put all of us in jeopardy.  They're not worried about that, though.  They are not interested in long haul stability -- a long night's journey across a difficult, choppy sea.  They want profits.  Period.  And they'll take great risks because they are "Too big to fail" and will be expected to be bailed out by governments when they've fucked up, taken great risks which they cannot afford.

It is the task of society as a whole to INSIST and DEMAND that banks either serve our common interest upon this ship... or die a noble death. Or an ignoble one.  It is WE who are failing our community / communities by not insisting that banks who fail are allowed, therefore, to die. 

Normal businesses, when they fuck up, are allowed to die. They are not too big to fail.  So let us DEMAND -- and not ask politely -- that no bank shall be too big to fail.  NO BANK!

Let us put that on the list of demands when we have our rolling General National Strikes! 

Those who run the banks often want a government small enough to drown in a bathtub, and yet they want to suck on government tits when they capsize?

Well, fuck them!

NO MORE.

If you want to do business, sink or swim, buddy!
« Last Edit: February 21, 2017, 11:39:42 AM by JRM »
My "avatar" graphic is Japanese calligraphy (shodō) forming the word shoshin, meaning "beginner's mind". --  http://en.wikipedia.org/wiki/Shoshin -- It is with shoshin that I am now and always "meeting my breath" for the first time. Try it!

Offline JRM

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Re: BotWave
« Reply #16 on: February 21, 2017, 11:45:55 AM »
But it's not enough to let the banks sink (die) when they fuck up bad enough, rather than to bail them out.

We also have to insist that the financial reward system for banks doesn't allow them to take advantage of loop holes and bankruptcies, or whatever, such that the CEOs and other big wigs can get rich even though they ran the ship into the rocks.  If they run a banking ship into the rocks, the banksters will have to pay for all of the damage out of their own fucking pockets.  So say we, the people.

So listen up you banksters. We're coming for you! 
My "avatar" graphic is Japanese calligraphy (shodō) forming the word shoshin, meaning "beginner's mind". --  http://en.wikipedia.org/wiki/Shoshin -- It is with shoshin that I am now and always "meeting my breath" for the first time. Try it!

Offline JRM

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Re: BotWave
« Reply #17 on: February 21, 2017, 12:21:40 PM »
Here's a young fella who has something to say on our topic. 

(Please keep in mind that my posting anything in here is NOT to be mistaken for my taking a position on the virtue of the ideas or data presented.  We're in the stage of inquiry which is about having a look at what folks are saying on the topic.  I'll post things of interest. That's all. Hopefully it will stimulate useful conversation.)

<a href="http://www.youtube.com/v/A2aBKnr3Ep4" target="_blank" class="new_win">http://www.youtube.com/v/A2aBKnr3Ep4</a>
My "avatar" graphic is Japanese calligraphy (shodō) forming the word shoshin, meaning "beginner's mind". --  http://en.wikipedia.org/wiki/Shoshin -- It is with shoshin that I am now and always "meeting my breath" for the first time. Try it!