CLO’s seem to be an example of the finance system as part of the wealth pump that Peter Turchin talks about. But now, I wonder: while the wealth pump primarily pumps conventional wealth from the poor to the rich, does it now also pump wealth from the some rich people to others through various financial instruments such as CLO’s. The end result of CLO’s is that they compartmentalize financial losses and send them “away” to “others”. Ultimately, this cannot work. It is another example of “not my problem” thinking… that one day can only result in collapse. But by then, someone thinks, I will myself be safely away in my isolated Galt’s Gultch, or else dead already. Capitalism has become a catapult: work the system to make enough money to escape the system before it kills you or crashes. Only the catapult doesn’t actually work. Those who escape the system end up having to live, for awhile, with themselves.
I think you should be looking at this from another viewpoint. Viewpoints might be a better word.
Climate change is going to collapse the economy. One of the biggest losers will be insurance companies. Housing will be lost, and with it employment. Insurance companies will be the first to collapse.
We're talking about a system which has deliberately put virtually everyone in the US in poverty and on the verge of bankruptcy. One which has been manipulated for the wealthy by the wealthy. One which the stated purpose of the current administration has vowed to collapse and is currently doing.
The more complex a system is, the harder it is to predict what the outcome will be due to small changes to the initial starting point. A "small" change in the system for example will be the introduction of robotics replacing human workers. Human well being is not factored into the system. Only dollars and percentages.
Even if climate change is far less severe and slower than expected, the results will be that the US will never be able to pay off it's current debt. If sea level rise is only 2 feet the entire coastal region will need to be restructured and rebuilt to maintain shipping ports. Vast areas of agriculture land will need to be moved (if even possible). Current coastal areas will become uninhabitable.
I'm not sure even why they bother to put any of this on paper. It's so complicated that absolutely no one can understand it. It has no relevance. The 2008 fiasco was summed up by "We don't know where the money went!" Try telling that to the IRS about your tax return. I hate to say it but we're living in the computer age. Not with ledgers with quill pens. And the taxpayers got to feel sorry for the mistake and charitably give them the money to pay for the "mistake". So now we have a "new" model based exactly on an old model which failed entirely.
Our money has no value any longer. It has approximately 1 tenth the buying power it did in 1970. This is the fault of the economic system, not the workforce. The economic system has been manipulated by the economists, the government and the federal reserve to enslave the population.
CLO’s seem to be an example of the finance system as part of the wealth pump that Peter Turchin talks about. But now, I wonder: while the wealth pump primarily pumps conventional wealth from the poor to the rich, does it now also pump wealth from the some rich people to others through various financial instruments such as CLO’s. The end result of CLO’s is that they compartmentalize financial losses and send them “away” to “others”. Ultimately, this cannot work. It is another example of “not my problem” thinking… that one day can only result in collapse. But by then, someone thinks, I will myself be safely away in my isolated Galt’s Gultch, or else dead already. Capitalism has become a catapult: work the system to make enough money to escape the system before it kills you or crashes. Only the catapult doesn’t actually work. Those who escape the system end up having to live, for awhile, with themselves.
I think you should be looking at this from another viewpoint. Viewpoints might be a better word.
Climate change is going to collapse the economy. One of the biggest losers will be insurance companies. Housing will be lost, and with it employment. Insurance companies will be the first to collapse.
We're talking about a system which has deliberately put virtually everyone in the US in poverty and on the verge of bankruptcy. One which has been manipulated for the wealthy by the wealthy. One which the stated purpose of the current administration has vowed to collapse and is currently doing.
The more complex a system is, the harder it is to predict what the outcome will be due to small changes to the initial starting point. A "small" change in the system for example will be the introduction of robotics replacing human workers. Human well being is not factored into the system. Only dollars and percentages.
Even if climate change is far less severe and slower than expected, the results will be that the US will never be able to pay off it's current debt. If sea level rise is only 2 feet the entire coastal region will need to be restructured and rebuilt to maintain shipping ports. Vast areas of agriculture land will need to be moved (if even possible). Current coastal areas will become uninhabitable.
I'm not sure even why they bother to put any of this on paper. It's so complicated that absolutely no one can understand it. It has no relevance. The 2008 fiasco was summed up by "We don't know where the money went!" Try telling that to the IRS about your tax return. I hate to say it but we're living in the computer age. Not with ledgers with quill pens. And the taxpayers got to feel sorry for the mistake and charitably give them the money to pay for the "mistake". So now we have a "new" model based exactly on an old model which failed entirely.
Our money has no value any longer. It has approximately 1 tenth the buying power it did in 1970. This is the fault of the economic system, not the workforce. The economic system has been manipulated by the economists, the government and the federal reserve to enslave the population.
So if you have to make a choice between
Is this a free democracy
Or
Is this an authoritarian fascist society
What is your vote?
I endured the 2006-2010 era from the front row. This is horrifying.