CRASH 2008-09 -- first wave

Home | Quotes on our banking system: a forgotten struggle | U.S. Monetary Supply--the root of the Crash | Great Depression, causes and parallels--jk | The Second Great Depression--why-jk | Great Depression and the New Deal | Argentina's Collapse | Asian Crash 97--model for U.S. Crash | NEOLIBERALISM, the globalizers | Robber Barons | Fed Stats--the deception | More Debt no FIx--jk | Financialization and the Bubble/CRASH | Class nature of the CRASH--jk | Obama and the Second Great Depression--jk | Nobel Lauret on the Crash--Stiglitz | Second deed solution--jk | Economists-petition-Congress | Three Crashes--Models | Financial Crisis, a socialist perspective | Fairness Doctrine overturned yields corporate media | Funny Money Solution--more fed debt | Why We Need Regulation of the Market Place | 10 to 1, the Credit Expansion | Fed debt--the debt game | WaMu Give Away by Feds | Offshoring and the Auto Industry | Economic summit November 15th | Figures on the CRASH | Pod Cast of CRASH plus much more
Class nature of the CRASH--jk

The Class Nature of the CRASH—9/23

Forces that shape human behavior produce results contrary to that which promotes the long term happiness.  Our humanscape is littered with obesity, lung cancer, conspicuous consumption, absurd religious beliefs, battling relationships, and wars.  These same type of forces operate on the economic-political scene to produce speculative bubbles, social imbalances, marketing inefficiencies, and economic crashes.    

     There has been a recorded from the beginning of written history of the social group at the bottom of the pyramid (not including slaves) that have struggled with those at the top over the distribution of the wealth of a nation.  Our own nation from its very founding has acted to protect the interests of those of great wealth from those who would have benefited from a distribution of the lands.  During the early period of industrialization, the robber barons used their wealth through political donations to garner special considerations that promoted increased profits and impeded attempts of the masses to improve their lot.  Their considerable influence upon government laws was opposed by an ineffectual union movement.   Unlike European countries, this movement never formed a labor party.  Nevertheless during the collapse of 1929 and the decade following the Democratic Party passed acts that promoted the well being of the masses; legislation establishing unemployment insurance, social security, the right to unionize the work place, regulations on the conditions of work, and the for benefits including of medical insurance and a pension plan.  Even the airwaves were regulated as to content, so that the owners and advertisers would be required to have balanced reporting.  That was undone under Reagan.

     Things have changed:  the influence of the press was supplemented with radio and later television.  Content subtlety implanted values and perspectives which reduced class consciousness.  And with this shift the pressure upon the elected promote the well being of the masses was reduced.  Slowly the laws governing unions and the workplace were changed.  At the same time corporations had evolved a global presents and the structure of decision leadership changed as the practice of dividing the ownership became the norm.  With this division of ownership developed board of directors made up of large shareholders.  They became the decision makers.  Corporations in pursuit of profits developed an international presence. 

     These international corporations and financial institutions have developed their own regulatory structure which promotes their competition in local and regional markets.  The International Monetary Fund (IMF), World Bank, and World Trade Organization (WTO) promote the removal of trade and financial restrictions.  Slowly there influence has grown and with those barriers such as tariffs, financing, and ownership laws have been changed.  Developed countries have put supported these international organizations.  The U.S. has appointed every head of the WTO, and the European Union is allied to them.  Moreover, governments supportive of their policies are far more common than those who aren’t.  Free trade agreements have been ratified by most nations. 

     The reduction in the power of labor unions and other populist structures has permitted the ever increasing influence of the globalizers.    The political power of flat worlders* has risen well above that of the period prior to the Great Depression.  Given current trends, history is repeating itself.  A collapse similar to that which occurred in the orient in 1999 and that in Argentina in 2002 is occurring in the U.S.  The dollar has fallen over 40% against the Euro since 2002.  Trade deficit has promoted mass the buying up of our industries, real estate, and financial institutions.  Our government’s debt has risen to over $10,000,000,000,000.  The housing market is collapsing (like it did during the depression).  We are on an elevator going down, but without the numbers changing on the wall.  The corporate media pretends all is well, yet we are in free fall. 

     A country cannot remain economically strong when a trade deficit each month is over $50,000,000,000, when jobs in mass are outsourced, when manufacturing employment is under 15%*, when the labor market is flooded with foreigners and elderly as social security payments diminish and the age for retirement raised.       

     This shift away from a strong labor movement, which once exerted significant influence upon politics, has occurred in nearly all nations.  They have been forced out by the big bucks of local and international commercial interest.  The opinion making ability of the corporate media has effectively quelled opposition.  There is like a global epidemic, each nation has a significant germ load; the signs of illness are everywhere present.  This disease causes a diminishing return of workers on their production, a reduction in the social nets, a privatization of government services, a pyramiding of wealth, and in the developed nations an overall decline of the public wheal.  


*  Four labels denote them:  neoconservatives, neoliberals, globalizers, and flat worlders (from Thomas Freedman’s book, The World is Flat). 

**  Another government lies on our economy; the small print on its method of calculation reveals the lie.  For example manufacturing since 03 includes the workers in the fast food industry.  An examination of the inflation rate, government figure of 2.7% annual rate as of July of 08, reveals a similar deception.  The cost of living is rising at over 12% per year (07 & 08).  

Enter supporting content here

Teddy Roosevelt's advice that, "We must drive the special interests out of politics. The citizens of the United States must effectively control the mighty commercial forces which they have themselves called into being. There can be no effective control of corporations while their political activity remains."

Don’t miss the collection of Pod Cast links


Nothing I have seen is better at explaining in a balanced way the development of the national-banking system (Federal Reserve, Bank of England and others).  Its quality research and pictures used to support its concise explanation set a standard for documentaries--at  The 2nd greatest item in the U.S. budget is payment on the debt.