The Myth of Late Stage Capitalism

Discussion in 'Economics & Trade' started by Warm Potato, Nov 19, 2018.

  1. Warm Potato

    Warm Potato Active Member

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    Late stage capitalism is a Myth.

    Its a myth perpetuated by socialists, communists, and marxists - in the hopes that repeating such a notion will bring it into being. Its a near universally known economic principle that faith in the economy is key to driving strong economic growth - and a lack of faith can kill the markets.

    People pulling money out of the stock market and withdrawing all they have from the bank, then leads to an economic depression, which allows for authoritarian figures to capitalize on fear and uncertainty. Much like FDR did during the Great Depression, there are plenty who understand the one simple fact of life: the easiest people to manipulate, are fearful and anxious.

    And so, the notion of "Late Stage Capitalism" continues to be repeated by left wing psychopaths all over the web, who operate on one of two assumptions. Firstly, its a great fantasy that can be used to make lots of money. Just like doomsday preppers, predicting the downfall of society is a great way to gain attention and sell books. Secondly, some people actually believe it.

    They're foolish enough to believe utopia will come when the US economy collapses, and have their fingers crossed waiting for that day. Its sad really, how dreadfully uninformed they are.

    Everyone needs something to believe in, even if its a cult of naysayers and disbelievers, everyone needs something to believe in.

    Its likely that I'll be receiving hateful comments from people who believe in this communist myth with all their heart, and that's okay. The truth hurts. I don't blame them for their zealous disbelief. I only hope they'll wake up to their folly. Rather than obsess about your pet doomsday scenario, you ought to focus on making the present day a better place. You hear me you crazed socialists?! Altruism! Try it some time!


     
  2. Reiver

    Reiver Well-Known Member

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    Is that a political economic term?
     
  3. Kode

    Kode Well-Known Member

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    The GD was not a result of fear. Capitalism experiences recessions on an average of every 4 to 9 years. They are not caused by fear. We have another one creeping up on us due to the economic forces at play, like domestic credit, trade, debt, banking, markets, inventory, consumption, etc.

    "Psychopaths"? Reliance on name-calling is a sure sign of a recognition of having a weak argument.

    What's "it"?

    Yes, capitalists are now doing it to make money as well as to divert public attention from the crisis that capitalism is in and to keep them from solving the problem themselves. Note all the TV shows on the Yellowstone supervolcano and how it would wipe out life, possible asteroid strikes, earthquake fears, over-population of the planet producing unmanageable pollution, and then the Great Solution as being the colonization of Mars.


    No, actually it's sad how dreadfully uninformed YOU are, -or maybe it's actually more a case of searching for a way.... -ANY way.... -to stand athwart the path of history.

    Ah! Doubling down on name-calling. Good tactic!

    I'll bet it does. And again, -"communist"? Would you like me to post a list of anti-communists who are worried and warning about capitalism and where it's heading?

    "Altruism"? That is one of the attack-words that are used against socialists and socialism. It is claimed that socialism is based on altruism, but here you are advising it.

    Listen, capitalism is in crisis world-wide. It is unsustainable. All you need do is to first realize the history and drive of capitalists, which they, themselves, advertise, and then check to see if it is sustainable. The history of capitalism is one of an average of 3% annual growth in production, sales, markets, consumption, and corporate size. Three percent, compounded. Try this quick exercise: create a spreadsheet page with one column of numbers representing 3% growth. Put a "1" in cell A1 to represent "1 time the current ______" (production, sales, markets, consumption, etc.). Then in cell A2 enter the formula "1.03 X A1". Then copy cell A2 down to create a column of 200 rows, thus creating a series of numbers each being 3% greater than the one above it. Then highlight that entire column and put it into a graph and see how it looks.

    Capitalist compounded growth is not sustainable! And the graph shows it VERY clearly.

    We are now in the unsustainable "late-stage capitalism" shown in the graph. Here is what it looks like....

    upload_2018-11-23_10-20-53.png


    This proves "late-stage capitalism" and shows it is not sustainable. And this is the problem underlying most of our national problems today.
     
  4. Warm Potato

    Warm Potato Active Member

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    Ah, poor confused *******s. Have to rely on whataboutism to pretend they have an argument - SAD!
     
  5. Reiver

    Reiver Well-Known Member

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    Is that also a political economic term?

    Your post would have generated more appeal if it had ignored temptation to use rant language. I have a genuine question to help you correct for that. I find that it is the extreme right who refer to the collapse of capitalism. Lefties will, in contrast, often refer to analysis based around it's success. An example is Schumpeterian creative destruction.

    Why do you think that happens?
     
  6. Quadhole

    Quadhole Well-Known Member

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    I have not heard it once, strangely you don't see it on Zero Hedge. What I do know is that the rich have become filthy rich and continue to do so on the backs of the working class. Manipulating EVERYTHING from Wallstreet, the FED, the Govt, under funded Pension plans, everything. and then we get to this point, just as we did 10 years ago. It was 2006 and the rich were saying thru the media, everything is great, wages are finally going up, new home sales are wonderful. All BS... wash, rinse, repeat.

    I am ready this time, fool me once ONLY.. It is the FOX news schmucks that fall for this crap each time... As if Trump is going to change anything, other than migration. The fact is, Credit, the push for never ending growth at 7% GDP ruins us. People in this country are gullible.
    Without a tax base as we had from 1940 - 1984 where the very super rich pay a gigantic 80% tax, we are going to collapse, period. You cant just keep printing more money and increasing the DEBT. We are not Japan, nor can afford to go to some 400% debt to GDP and expect the world to maintain us as the worlds reserve currency. Obama made a big mistake agreeing with Paulson the billionaire Treasurer at the time to use QE and low rates. We all knew it was a mistake, but the sheeple have not a clue.

    Now, or in 5 years ? 10 ? we have to reset, or wipe out (jubilee) the debt, and you cant do the rich guys and not mine. Seen the new article out about the govt backing, or bailing out the pension funds around the country. This means you as a tax payer will pay some rich guy with a pension twice a month, once you pay him for his SS, and then his pension with your tax dollars. Sooner or later, people will catch on, and it is happening now.
    This post of yours is to squash a term. Big deal, it should work on a couple people. But know, the truth is out there and no matter how many people the right wing pay to cover up the truth of the stealing that has gone on for 40 years, it will all come out. There is no can to kick this time.
     
  7. Quadhole

    Quadhole Well-Known Member

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    I agree for the most part. But to wipe away Capitalism is a bad thing IMO. It worked great after FDR slammed the powerful and rich, JP Morgan, Rockefeller's, and so on. He made their tax at 90% and cut it on the working class. The Gov't brings in the money and redistributes it to the state who put everyone to work that isnt working.
    Tax the billionaire and force decent wages, this allows the worker to make enough money to start his own business and or compete with the rich guy. Today, it is pay them all pennies and keep them broke. These are the rule changes the very wealthy have put in place since Reagan went to office.

    He cut their tax in 1984 down to a working mans rate, that ruined it all. Gave us a bump from trickle down for a couple years. That was from the rich that were willing to spend their money. But the Carl Icahn's of the world, greedy type used everything they made to leverage more, all of wall street did it and so did the banks, You get what we have now, trouble, the same trouble we had in 2008. Thus, QE 1,2,and 3.
    I am hearing all kinds of dumb things from "the peoples QE" or helping fund the pensions with Tax dollars. All BS ! They have to reset, or do a Jubilee and wipe out the debt. But they wont, they will continue down this path.
    Another .25% increase next month. Followed by none next year and maybe even a cut late 2019. Trump will go nutz because the market is going down to 15K. Nothing to prop it up anymore, buy backs are stopping, GDP will be flat and all because the FED and polticians (OBAMA TOO) screwed it up. They should have fixed it 10 years ago. Now, we are in huge trouble and the regular working class people have not a clue what is coming, this time it will creep up slowly. The Big Corporate Debt BBB Credit rating corps will be the first to go. Does everyone here know that their money isn't safe in a bank today ? It was before the crash, but htey changed the laws, your money is no longer YOUR money. it is the banks money and they can use it to bail themselves out if needed. No longer do they or can they go to the Govt, they just take deposits that they hold. It is their money now legally.

    It was funny watching people laugh at Peter Schiff in 2007 when he was calling it. They laugh now at anybody telling the truth. As if the truth doesnt count, that no matter what, the Gov't will always find a way. 2008 was a joke and a backdoor deal with both sides stuck, the banks made the call and forced the politicians hands. Watching this play out, this time will be awesome. I have not a clue what they will really do, but it will benefit them, not you or I.

    Think about that, do you think the JEWISH FED and Wall Street are going to make a move that takes their power and Money ? Do you as a person, or even 50M of YOU have the ability to change it ? Nope ! They will remain in control and call law and order, make people stay at home, curfew, if need be...
    We mean nothing in this big picture. What the smart people do is obtain wealth, gold, Silver, land, tangible assets that can be sold if needed for food. I wonder if they actually have a game plan. I do know they can get 4 - 6 years out of taking the interest rate down, slow inflation, and QE 4, 5, 6, and the people wont catch it.

    They can also unload mass amount of Treasuries now from another law change. Banks can now NOT report a LOSS due to the change in Mark to Market Laws. They can hide Treasury Bond losses in a separate account. Billions, if not trillions in losses. No one will know it is there and they can use this avenue to hide the govt debt. THEY are always 3 steps ahead of us. Fact is, they want you right where you are, begging for more because you dont make enough. Stop being a SHEEPLE !
     
  8. Kode

    Kode Well-Known Member

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    But who is going to do it? In the first place, many aspects of capitalism have changed since FDR and it presents a very different situation, but FDR and all he did proves that it will all happen again even if a way can be found to do it again. And now we have a S.C. ruling that says the fundamental obligation of corporations is to make a profit for their shareholders, and we have Citizens United and A.L.E.C. to help top corporations run government. Who is going to reverse those and many other S.C. rulings? FDR had a popular and very active communist party and socialist parties and labor unions pushing him and threatening government. All our organizations that could propel another FDR to success have been demolished and propaganda has spread its confusion to separate us and make organizing much more difficult.

    There's no one to do it and when raising taxes on the rich is suggested, the rich media goes to work to turn the public against it and it ends up failing. The whole reason unions that previously included 25% of all workers now include just 7% of them is because the media spread anti-union propaganda for years and years, a little at a time.

    That was no accident. Reagan was a very pro-capitalist person. And the media had prepared the way for the tax cuts by spreading the false idea of "trickle-down" and how the rich would do good things with their money. The public, shepherded by the media, forgot about the 1920s.

    That is what capitalism did. Yes. Need I remind you that capitalism is dedicated to maximizing profits? They learned from FDR and swore they would never let that happen again, and they have worked well for 70 years to make sure of it.

    -for the rich and powerful elite. Obama made the Bush tax cuts permanent and look how much it helped the people of the US. Zero. But "wipe out the debt"? What debt? Do you mean the national debt or part of it? That is debt owed TO others, not debt they owe to the government. So you can't wipe out that debt. Only others can and I don't think they should. But PUBLIC debt like education debt is another story. But how do we get the big banks to forgive that debt?

    -because top corporations led by big banking interests run our politicians. They own them.

    That's what I said, but I object to the focus you put on "JEWISH FED".

    Plenty more than that is needed.

    -which, like everything else you raised, points to the need for the people to break through the propaganda, get the facts, and ORGANIZE. Only a massive organization of the people can fix this now. The big secret that government and the media works to keep a secret, is that government is TERRIFIED of widespread organization of people and the power it brings. By keeping this a secret the government keeps its power over us and serves corporate interests without challenge. The whole reason government led by FDR did things for the people was the huge, popular organizations that demanded it and made it known.
     
  9. Reiver

    Reiver Well-Known Member

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    "I object to the focus you put on JEWISH FED"? Crikey, show some metal for a change. Condemn anti-semestism. Sneer at the ignorant hate.
     
  10. Reiver

    Reiver Well-Known Member

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    Crikey, poor spelling. Tut, tut, shameful too. Anti-semitism! But perhaps not as bad as a lefty playing kiss-chase around a fascist?
     
    Last edited: Nov 27, 2018

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