BANK FIDDLING CONTINUES WHILE CAPITALIST “ROME” BURNS: The Bank of England has announced more tinkering with the money supply, but reportedly is not yet ready to increase the actual supply of printed paper. The facts are that any action by banks, right up to printing more paper, to increase money supply is a stop gap remedy and ineffective in the long term. Printing more paper is ultimately a necessity, but there is a catch to that too. The problem is how money is allocated and utilized. Relying on the private, short sighted, immediate profits, oriented sector, which comprises most of the economy, to do what is right for long term economic viability and establishing and maintaining of real values, is doomed to fail, as history has repeatedly proven. Regulated, planned, governed economies will succeed in building the future. However, they will have to be strictly, thoroughly, controlled by governance that has the interests of society as a whole at heart, and no longer looks to supporting the squeezing of the lemon economy to get out its last few drops of profit juice. We are not quite at the point of tossing out the whole system as a dead piece of worthless lemon rind, but we will get there unless policies and attitudes change.
While bank fiddling continues, with bankers and many politicians seemingly as oblivious as Nero in ancient Rome, to the barbarians at and inside the gates, capitalist Rome continues to burn. Wall Street and other exchanges seem already invaded by barbarians. Business ethics and morality, along with any semblance to responsible whistle blowing, now seem dim rumors of a long gone and largely forgotten past. The consequences of failure to rectify the growing tragedy will be the most extreme ever experienced in world history. The revolutionary, likely violent, changes that failure at this point will invariably bring, perhaps in a relatively few decades in more stable areas, and much more immanently in more fragile areas, would likely destroy the last shadows of democracy, condemn capitalist free enterprise, and hang many of the politicians, the executives and the bankers, deemed responsible, from the lamp posts in the streets. Levels of human frustration are rising beyond what the many stuffed shirt and out of touch politicians can see from their extremely distanced from day to day reality, windows on the world. We are closer to political doomsday, and real systemic meltdown, than those in “control” ever imagine and some areas of the world, in the current economic situation, are already on the edge of total economic, social and inevitably political upheaval. To them, increasingly, the overthrow of their existing governments seems the only answer they can see to the continued growing reign of fear and hopelessness that is beginning to assert its overwhelming stranglehold over large portions of the world population. People put in fear and kept in fear long enough, eventually do what the people of the Soviet did, facing down the tanks and storming their parliament. Will the cycle now turn full circle, with one systemic failure followed immanently by another ? What will be most immanently lost, unless a better and more effective, long term and more nurturing, action plan is created and effected, are those large portions of the world who looked to democracy and free enterprise as promise and hope for a better future, gathering strength from that hope to break the chains of totalitarianism. Soon, if the current situation continues, totalitarianism will seem extremely sweet to those same, extremely disappointed, masses, and they will revert to that sense of greater order, stability, certainty, and predictability, contrasted with the uncertainties and terror that a completely falsified experience of “freedom” and “independence” brought. All the ground that was won, and more than that, will be lost, unless something more effective is done, more quickly, than is being done.. The world economy is on verge of breaking up in the manner of a bad ideological marriage. Unless the various partners can reconcile finding common agreement, in terms of what will serve long term goals and lead to political stability and real progress in terms of the good of their people, radical division is immanent. The crisis is reaching a stage where system faith is eroded by 20 years of now broken promise threatening revolution or radical government changes to planning and regulation. The worst case scenarios include such extremes as widespread nationalization of foreign assets, and the recall of existing currencies, with their replacement by new currency, to void possession by those who are deemed criminals, subsequent to the ousting of some, less stable than average, governments who are seen as having allowed the crisis to happen. Will that worst case happen ? Do we want to gamble, and spin that wheel one more time to see where it lands ? Whether we will see some major regimes toppled, by force or military coup, if the crisis continues to deepen, is about the same odds as tossing a penny: heads or tails, do you win or do you lose ? And if not this time, then next time when the current injection fix of quick capital relief peters out and dissipates same as the previous injection did ? As to the money we must remember the fact that following the media no one has been adequately able to describe where the “missing” money really went. That in itself is a major cause of fear and concern for many. It simply is not there anymore. Well, we can all understand that it has to be somewhere. It cannot simply disappear. Regardless of that fact we can see even more clearly than ever that most of the things that most need to be done to serve society as a whole, in terms of immediate and long term values, are largely not getting done. So there is a lack of money for those purposes. Government needs to create that money, and to control its expenditure. However, it also needs to recover the largest portion of what it spends, via radical revision of how it taxes the wealthy and corporations. The money expended has to be largely scooped up again and recirculated back into maintaining those new values, in service of society as a whole, and for additional new projects establishing those values. We can clearly see that in the system as it exists the money simply goes “poof”. It is simply gone. There is no money to support society’s real needs and to establish and maintain real, lasting, values. It is certain that unplanned, unregulated, ungoverned, creation of more money to lend will inevitably prove more disastrous in the long term. Although more money is necessary, how it is used, needs to be carefully controlled by wise governance, not left to the same fate as the "missing" money that the current crisis is being blamed on. The money will not lead to a stable economy supporting long term values, nurturing lives rather than providing little more than a quick spurt, money junky fix, and another subsequent crash even worse than the current collapse into sudden withdrawal and systemic desperation.. We know that change is the only universal constant, but what is happening is too much change in situation and expectations, with too little change in pockets, for most who are most seriously affected by the consistently darkening worldwide gloom. Robert Morpheal --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
