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The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

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Helsworth
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Post: #1
The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam


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27.01.2015 21:40
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thepresidentmaN
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Post: #2
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

This really worries me Sad. There is so little being done to address poverty and inequality around the world. It's jaw dropping how bad it's gotten.

28.01.2015 00:13
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Rising Phoenix
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Post: #3
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

It's the natural progression of a system designed to favour a few over many. Specially now with technology increasing longevity and increasing productivity with so little effort.

The best you could do with laws would be to slow it down, but you will not be able to stop it.

28.01.2015 03:37
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TheLastShah
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Post: #4
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam


Do you remember those guys?

They were screaming "We are 99%", while walking around Wall Street, enjoying time with their friends, later eating some Burgers or Hot Dogs, and in the evening taking the train back to the suburbs they came out.

Sorry, but you are not 99%! You are the top 10% - Fact is: (almost) Everyone in Western Europe and North America is belonging to the top 5-10% of world population based on wealth and income. Sorry, but this debate is so hypocritical. There are ways to change this of course, but especially we would be the loosers of those changes, so we stay loyal to our bigotry and complain about the top 1%. It is not up to them to change the world, but up to all of us. If we don't move a single finger to start being and living more sustainable we cannot blame others for the supposed social imbalances / inequalities. But don't forget: We are at the top of this system and we are fueling it with the way we live. I think we should have that much moral to stand by our behavior and stop denying our way of life - or starting to chance it. This is an individual choice where everyone has to decide by himself how he or she wants to live.

I am not denying that there is blood on my clothes and on my fingers, that every day people have to die so that I can live in a heated 100-square-meeters house and enjoy internet and television and plenty food and only work 1/4 of my life while I waste the other 3/4 of it.


...wartet immer noch darauf, dass Nietzsche zurückkehrt. Geniales RP findet man hier.

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28.01.2015 04:05
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Rising Phoenix
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Post: #5
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

TheLastShah Wrote:
But don't forget: We are at the top of this system and we are fueling it with the way we live. I think we should have that much moral to stand by our behavior and stop denying our way of life - or starting to chance it. This is an individual choice where everyone has to decide by himself how he or she wants to live.

A social problem requires a social solution, not an individual bandaid. It is a collective problem, one which affects all human beings. Thinking that "a single person can make the difference" is the root the problem: Even if the "1%" threw everything they hand and went on to become workers (and right there you have some of the worst fiction ever written, lmao), you would just end up with a "new 1%" which could easily be the same or worse than the current one - the members of which could very likely be composed of some of those complaining about the previous "1%".

The problem is the system.

P.S.: By the way, thanks the inertia of human beings social change does not occur unless it becomes necesary, i.e.: Basic necesities are being threatened and the current way of life is no longer possible to sustain.

28.01.2015 05:35
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TheLastShah
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Post: #6
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

Big Grin Ok sorry, I am just tired and wrote whatever came to my mind. Tomorrow.. ahm...today, in 2 hours we have an important presentation and I am working my arse off (a german proverb ^^).

Anyways: What exactly is wrong with the system? Because I think (and maybe you can convince me of your opinion): The system is alright, but we need certain adjustments, or being more specific: we do not implemented the system correctly since we dont have: polluter pay principle / no more limitation of liability / full responsibility in business and penalites amounting to the costs someone caused etc.


...wartet immer noch darauf, dass Nietzsche zurückkehrt. Geniales RP findet man hier.

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28.01.2015 05:42
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Rising Phoenix
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Post: #7
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

It is not exactly what I was trying to say. When I meant "system" I was reffering to the fact that a "1%" will exist at all times or, if somewhow extinct, a new one will rise to take it's place among those who are currently in the "99%".

You and me having more than a poor african kid -- it is built in the system. If the kid was given our knowledge, tools and resources, it is not unthinkable that he could turn into a competitor and we could end up in his previous state. Taken to extremes, this means that more factories in Africa mean less factories elsewhere - and yet, those factores profit only a small part of the population of that elsewhere.

That is why I said: "It's the natural progression of a system designed to favour a few over many. Specially now with technology increasing longevity and increasing productivity with so little effort.

The best you could do with laws would be to slow it down, but you will not be able to stop it. "


Thanks to this added longevity, people that would otherwise die younger and distribute their acquired wealth among their youth are now living longer, while in turn those young receive financial aid from their progenitors increasing the overall wealth of the family (whilst reducing the wealth of other families).

Laws can help lessen this effect. But even if you implement a higher tax rate - say, 50% of the "1%" earnings - the best you could do would be to slow them down. The wealth of society at large would still gradually contine to accumulate into those few hands.

28.01.2015 06:05
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TheLastShah
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Post: #8
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

Ok, I see your point. But if you look at history, whenever there was a major crisis, a war, a catastrophy, the "cards were reshuffled". Of course capitalism in the end destructs itself again and again but isn't this somehow also kind of a just "system"? If we had globally totally equal opportunities we would still have aggregation of wealth in the hands of a few (just way slower than now). Or are my remarks lacking in practical relevance? Noplan


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28.01.2015 06:15
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Helsworth
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Post: #9
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

Proxemics, of course, rules our lives...
But the fact that 80 people, aka 1% of the world's population owns 50% of the planet's wealth is very frightening. Eating burgers isn't a sign of prosperity or easy-life, it's a sign of poverty - at least it is in the West. That, of course, can be seen as heaven from the standpoint of a bloke living in Darfur or Somalia.
The system doesn't just need readjustments, it needs a total clean slate. Governments need to stop issuing interest bearing securities whenever they run fiscal deficits - because that's an unearned and unfair subsidy going to the the rich via 2nd market operations.
See this, Direct central bank purchasing of gov debt:
http://bilbo.economicoutlook.net/blog/?p=29140

We need to radical change in the banking sector; banks (depository institutions) need to be treated as public utilities, not the untouchable queens of all industry or as super-state citizens.

1. The ECB to provide unlimited guarantee for euro deposits.
2. The ECB to lend unsecured to member banks, and in unlimited quantities at its target funds rate, by simply trading in the funds market.
3. Make a zero interest rate policy permanent. This minimizes cost pressures on output, including investment, and thereby helps to stabilize prices. It also minimizes rentier incomes, thereby encouraging higher labor force participation and increased real output. Additionally, because the non government sectors are net savers of financial assets, this policy hurts savers more than it aids borrowers, so a fiscal adjustment such as a tax cut or spending increase would be appropriate to sustain output and employment.
4. Banks should not be allowed to have subsidiaries of any kind. No public purpose is served by allowing banks to hold any assets ‘off balance sheet.’
5. Banks should not be allowed to accept financial assets as collateral for loans. No public purpose is served by financial leverage.
6. EZ banks should not be allowed to lend off shore. No public purpose is served by allowing EZ banks to lend for foreign purposes.
7. Banks should not be allowed to engage in proprietary trading or any profit making ventures beyond basic lending. If the public sector wants to venture out of banking for some presumed public purpose it can be done through other outlets.
8. Use ECB approved credit models for evaluation of bank assets. I would not allow mark to market of bank assets. In fact, if there is a valid argument to marking a particular bank asset to market prices, that likely means that asset should not be a permissible bank asset in the first place. The public purpose of banking is to facilitate loans based on credit analysis rather, than market valuation.
9. Banks should not be allowed to buy (or sell) credit default insurance. The public purpose of banking as a public/private partnership is to allow the private sector to price risk, rather than have the public sector pricing risk through publicly owned banks. If a bank instead relies on credit default insurance it is transferring that pricing of risk to a third party, which is counter to the public purpose of the current public/private banking system.
10. EZ banks should not be allowed to contract in an interest rate set in a foreign country, with a large, subjective component that is out of the hands of the EZ member state governments.
11. Banks should only be allowed to lend directly to borrowers, and then service and keep those loans on their own balance sheets. There is no further public purpose served by selling loans or other financial assets to third parties, but there are substantial real costs to governments regarding the regulation and supervision of those activities.
12. The ECB should buy EIB (European Investment Bank) bonds, financing thus projects of public interest in and among member states - without there being a need for further deficit spending for member state governments. The later have the liberty to focus on fiscal policy (deficit spending included) for their own domestic purposes.

Also, we don't need more labor intensive ways of life; we don't need more toil at the workplace in order to enjoy a decent living space, basic utilities, access to education, health care and a clean environment. We simply need to change all antiquated technologies with new generation tech. Ah, but we can't, goes the prayer - we can't because we don't have the money for such things, we'd have to raise taxes to fund these projects and no one wants this. FALSE. We DO have the money, and we DON'T have to increase taxes to fund these projects. Money is just a unit of account, more than 90% of money is in electronic form - data on a big-ass computer network, all under the supervision of the Central Bank - which is just a massive spreadsheet of debits and credits, of assets and liabilities. It's a score-keeping system.

For all of this to happen, though, we need the corrupt and dogmatic orthodox academic establishment to be shaken out of office. We need academic plurality, not the hegemony of one single school of thought, like it was and still is now under the Monetarist School. We need to stop bowing to UNELECTED, UNREPRESENTATIVE bodies of individuals who represent the interests of financiers. I mean, come on, the Troika is above ALL the lawfully elected governments in the periphery. In the EU, it's not about democracy, it's about dictatorship. But that's nothing new, European countries have NEVER been able in history to peacefully live with each other. Everyone wanted to screw the other guy. This was/is true of the British, true of the Germans, true of the French, true of the Spanish. Don't get me started on the Russians and the Turks... Hehe
Let's hope Syriza and Varoufakis will be able to challenge the entrenched transnational oligarchs and ram through the Modest Proposal (anti-austerity) - for everyone will benefit from anti-austerity measures, including Germany.


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28.01.2015 08:32
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Rising Phoenix
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Post: #10
RE: The world is moving toward neofuedalism, 1% owns 50% of the world says Oxfam

TheLastShah Wrote:
Ok, I see your point. But if you look at history, whenever there was a major crisis, a war, a catastrophy, the "cards were reshuffled".

Pretty much. But in the past militaries did not have armaggedon-capable weapons.

A war at this very day - considering the nation-states that are part of the top wealth controllers - would likely leave no-one to own anything and/or nothing to be owned.

The last reshuffling that took place was called "World War II". Now, what was that Einstein quote again...?

TheLastShah Wrote:
Of course capitalism in the end destructs itself again and again but isn't this somehow also kind of a just "system"? If we had globally totally equal opportunities we would still have aggregation of wealth in the hands of a few (just way slower than now). Or are my remarks lacking in practical relevance? Noplan

Actually you are spot on. If you keep the system intact but you just redistribute everything, you will end up with a new U.S.S.R.. Time would pass, eventually a new elite would rise and it would decide that the facade of equality has gone on long enough, thus reverting to it's pre-revolution/distribution methods.

Helsworth Wrote:
The system doesn't just need readjustments, it needs a total clean slate.

And then time will pass. The rich will grow complacent, governments corrupt. They will see the 'wisdom' of the pre-clean slate laws and deals and they will seek to restablish them. The efforts of the non-neoliberals will be undone slowly, silently, in backroom meetings that the public will never hear of. And everything will begin anew.

Helsworth Wrote:
We need to radical change in the banking sector; banks (depository institutions) need to be treated as public utilities, not the untouchable queens of all industry or as super-state citizens.

The problem is: Banks do not serve the public. They are meant to keep the earnings of the rich safe. There are banks that have the deposits of a single rich man or woman equate to the savings of entire nations. Again, this is not because of low taxes or bad policies: It is what the system is based on. Having more than other people. Because if you have more than other people, you rule. If you have less than other people, you are ruled.

Helsworth Wrote:
But that's nothing new, European countries have NEVER been able in history to peacefully live with each other. Everyone wanted to screw the other guy.

That is also true for every other country in the entire history of the Earth however. War exists because scarcity and politics exist. Scarcity is artificially enforced, politics make sure of that. And guess who run politics? Those who benefit from scarcity. Cycles, people. You have to break them, not reset them.

29.01.2015 05:30
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