Comments by "" (@jmitterii2) on "David Pakman Show"
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I'm a new type, From Richard Wolffe I would call it more concise terms a Co-Opist.
Someone demanding we institute a Federal Reserve Co-Op Bank ran similar to the function of the Fed Reserve Bank that lends discount overnight rates to private banks.
Differences would be Co-Op Reserve would be able to lend long term at discount rates to groups of people wanting to buy out their current small or medium or even large business or begin their own business that is capital heavy directly.
Co-op charter would require all employees to hold a single vote, not volume shares, to motion for wages/salaries, capital expenditures, leadership, management, and other functions of the business; the employees would be the board of directors in ability to petition and vote for all proposals including leadership who would also provide clear defined plans, and together make business plans.
Currently banks tend not to lend much capital to co-ops for a variety of reasons, current corporate charter doesn't play well with co-ops that provide non-share everyone has a single vote for employees type constructs. So they have to become a regular LLC or other corporate charter Co-Op like WinCo Foods a big grocery store chain. Or they're relegated to even smaller retail like coffee shops, pizza, antiques, etc. But to get big manufacturing even moderate to somewhat small manufacturing or any mining or refining requires tens of millions if not a hundred million in capital to start up or take over existing firms. A method of capital formation for co-ops is needed, and would work.
Nullifying an excuse to have an aristocracy. Capital formation comes from lending from the Co-Op Reserve Bank. Employees don't want to see their business go under, so they would likely manage better when they're put in charge of ensuring it is successful, an they benefit from any profits well beyond what profits are distributed today.
So economically I'm a Co-opist.
And what's nice it only requires additions:
1) Create Co-Op Reserve Bank to lend to groups of people directly to buy out or start up a firm with a decent business plan for success.
2) Write up specific Co-Op Charters that cater to such an organization that its shares are not for sell and single voting decision and petition making belongs to every employee regardless of title of that employee.
Other business can still exist. They would compete. I'm fairly certain over time corporations will lose out to such co-ops since 1) people won't want to work for corporations where they pay so low compared to co-ops that literally share much of their profits and vote on key points on how they operate and do with the revenue. 2) Customers will like the prices and quality of products and services from such co-ops much more than from corporate businesses. Even Corporate businesses buying inputs in a B2B transaction would likely favor the co-op for the cheaper better quality input than from other alternative corporation.
So create the environment and let them compete.
Competition is after all the only reason for the profit motive being effective and providing supply to meet demand.
And of course economically, sectors that violate some or all of the competitive market principles should either be highly regulated by the people with requirements for them to respond to petitions of the people, or be owned by the government body they service; local as possible. All utilities from water, sewer, trash, roads, ports, electricity, natural gas pipelines, heating oil, fall into these categories. Oligopolies may fall into this as well like cell phone and ISP's. Healthcare and education due to several competitive market principles in violation.
Political government a democratic-republic with a strong democracy where various votes need ratification by the people... with the internet it's much easier to conduct such a ratification; similar to submitting your taxes or do online banking. You just submit your vote on a secure website.
I've taken to call it Co-opism or Co-opist.
It would be big. Won't be sunshine and rainbows everyday.
But an advancement in all peoples' well being just as the prohibition of slavery, feudal serfdom, and patronage mercantilism has done so. Just has rehabilitating the democratic and democratic republican form of governments has made life better for more people.
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Being close to Utah having several extended family members and friends living there, Utah isn't as right wing as people would think. They're like Idaho, they don't vote much to begin with, most don't even know their local state rep or even mayors.
And of the large Mormon influence, several including many of my older relatives like my great aunt, and my late grandma are deep liberals; they lived through the great depression in cabins (dirt floor shacks/sheds) as children and remember the actions of FDR that quickly provided decent pay and modern housing with plumbing, electricity, an complete foundation floors.
So you have a faction of liberal Mormons and right winger Mormons. The younger generation of Mormons were brainwashed by the 80's Reagan era. The older generation still hang on with liberal concepts and still shun GOP due to Nixon.
So you mostly have people who don't bother to vote. A huge amount that don't. So all that has been winning GOP right winger legislation has been a small plurality that actually bother to vote.
If people feel compelled to vote and become politically active to at least sign petitions and follow up in elections and primaries, you can see things change quickly even in Utah.
And of the right wingers, they hate Trump. They don't even try to defend him. Instead they'll change the subject to anything but politics while decrying how shitty Hillary is. But they won't defend Trump a Dump like they did with Bush.
And that's a state that's essentially a theocracy, or as close to one can be without completely trampling on the federal constitution.
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We need to go for a two house co-op structure, move away from corporations or LLC's.
A Co-Op Federal Reserve Bank must be created. It worked wonder berries for the private banks and corporations with the Federal Reserve Bank.
The Co-Op Federal Reserve Bank would be allowed to lend directly, having its own branches without requirement of deposit banking, have access to the treasury printing press and lend at low interest for capital formation instead of using racketeering oligarchs taking all the profits as happened since at least last 40 years.
Under a Co-Op structure, the workers literally own a voting share in their business they work. And vote on subjects such as what and how much to reinvest in growing the company (capital expenditures), wages and salaries, benefits including sick time allotments and vacation allotments, retirement plans like 401K contributions and pension building, and what to do with profits after taxes, compensation, and capital expenditures, etc. such as maybe more capital expenditures, maybe more salary and wage increases, maybe a bonus, maybe little bit of all of it. But he workers would get the vote.
Under a Co-Op living structure which exists even today in many places, the renter owns a stake in the revenue and voting voice on what to do with surplus after paying mortgage, upkeep, included utilities, etc. Since profits, which are typically 25% to 50% depending on the balance sheet, and if free and clear of mortgages, aren't going to an investor or group of investors, rather to the renters who also are member owners, they have been able to upgrade roads, parks, build swimming pools, and lower rents significantly. They could also use the proceeds to grow more unit spaces where applicable.
Co-ops change the owner worker and owner tenant relationship. It's literally the only way for the average person to really share in the profits of advancing technological society.
It still works competition via profit motive to an extent, but that profit motive is in line with the average person's needs, not some oligarch or wanna be oligarch parasite on all the profits: nobody will vote to outsource their work, nobody would vote to not upgrade streets, not build lower rents if profits exceeded needed upgrades like a nice swimming pool, park, nice road, garage, etc. Nobody would vote to have all the profits go into a few peoples' hands.
The only problem currently with co-ops is that banks tend not to want to lend to them that easily. And other forms of investment are at conflict with the relationship required... the investor has stake by virtue of the invested money thus has more votes to than the workers or tenants. So a Reserve Bank steps into be the lender/investor of last resort at low interest, directly from the government's own printing press, just as private banks do with the current Federal Reserve Bank.
It's a type of reserve bank system that should have had a hearing when the current Reserve Bank was secretly and originally formed by oligarchs in early 1900's and quickly passed by congress and signed by the president.
I see in the long run, a way to move away from corporations that create an extremely unequal oligarchy, toward co-ops that create a very equal society that is truly prospering.
And it doesn't exclude the use of much needed specific subsidies in building more houses and apartments. This should have been a concern when the real estate busted, people still needed homes, it wasn't that people just didn't need an extra house or two.
It was simply, the prices of those homes became so inflated via over borrowing, people couldn't afford the payments on those inflated prices.
And they should have realized it would put many developers out of business, making an extremely lack of supply when people could finally afford homes again at some point.
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There were serious moments he sounded more liberal or at least understanding to us workers than Hillary. And it was under the GOP controlled house and senate with Clinton that voted to remove Glass-Steagal banking act, passed NAFTA, established bilateral trade with China putting us on path for using every despotic and failed state as a plantation for cheap serf/slave/desperate labor, increased sentencing that blew up the prison population that we're number one in the world in number of our citizens in prison, de-funded HUD and low income affordable houses and apartments which then required people to take out mental case loans well above their annual income, de-funded low income welfare to ensure poverty was avoided, etc.
Most people I spoke to either wanted to vote for Bernie, but if they only had the choice between Hillary vs Trump, they went Trump.
People are fucking angry in all developed countries. Even many of the countries that were gaining for a short sugar rush, but crashed too around 2008-10 like Brazil, even in China, S Korea, etc. Most nations of Europe, particularly UK which since Thatcher and even with Blair, their working class completely bombed making in real income 10% less than they did 30 years ago as the median. And their faced with a similar housing and apartment shortage and of their supply that was privatized, apparently it was done to maximize profits regardless of safety as the Grenfell tower fire demonstrates.
This economic system is completely untenable.
We're repeating the turn of the last two centuries 1880's to 1930's.
Society didn't learn its lesson last time.
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I think a basic wealth co-ownership for its dividend income.
What makes a co-op ownership with share dividend better is that it reduces time worked so we're not still stuck on basic income as well as having to work long hours at low income; basically businesses start to use the universal basic income as a subsidy in lieu of higher pay.
Also over time, a basic income would start shrink as all government programs tend to do over time both in terms of nominal shrinkage, but real shrinkage as people tend to think inflation maybe caused by the universal income increases; when actual inflation tends to happen during large leveraging from banks in the fractional reserve system, and a labor market that's extremely tight; with global exploitation, labor markets are extremely loose.
Share ownership co-op structure would require businesses to provide shares to employees. A reserve bank of Co-ops like the Federal Reserve bank does for big businesses and banks today; would have the power to lend to co-ops to provide high capital amounts for sectors like mining, refining, heavy manufacturing, expensive electronics, R&D for medicines and other goods, as well construction development.
Such a bank could provide a universal shares income in a basket of co-op share systems; maybe an index of co-op shares. Whereby the dividends from these co-ops would provide a basic income.
Compensation wouldn't just include wages/salary, but also shares. And if unemployed for schooling or whatever reason, or perhaps in a new small not yet established co-op with any surplus/profits thus no dividends, you would be given via the Co-op Reserve bank the larger shares as well as public corporate stock indexes to gain a portfolio of shares that pay dividends.
A wealth model is better as it actually would reduce the 40 hour work week into half 20 hours; allowing more people to participate in a shrinking automated work environment. As well as ensuring even higher income than what you would get from a universal payment every month; it would increase as you got older and accumulated more shares; retirement age you would be set. These accumulated retirement shares would mostly not be passed to survivors of the family; perhaps only 50% or less would unless married.
The remaining shares after death would go back to the reserve bank to distribute; so quantity of shares always exist.
Avoids the squabble over raising universal income, and its potentially its worthlessness as time goes by. Like a 7.25 Federal min wage is currently a joke.
A universal wealth co-op structure would be the best method of ensuring everyone has prosperity.
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I think its not a complete waste of time.
The comments you got were from the mentally ill who are rampant among anyone irrational and gullible enough to support right wingers, particularly the odd ball buffoon Trump with his tariffs already hurting businesses nation wide. Economic reports already showing many direct and indirect business dealing with steel and aluminum as an input are having to cutback and even stop production for long periods of time.
My place of work uses lots of aluminum, and decided to only give everyone a 1% raise this spring for the year citing cost of inputs increasing... yeah the fucking aluminum tariffs.
Anyway, it's somewhat worth it. If they completely edited our comments than it wouldn't be.
The four minutes is shady; cutting off because they don't know how to respond is very shady. They're a propaganda outlet. Just as MSNBC and CNN with occasional fact based news. Most of the time they want to submit a narrative, throwing things out there to see if it sticks to move what they want to achieve forward.
CNN's recent article about current front runner for DNC presidential candidate placing Biden number 1, and Sanders number 5.
Most people at work, friends and family either don't care for Biden, and shouldn't be too surprising they don't even know how Biden is, yet they do know who Bernie is. And they like Bernie... even Trump voters lament they rather have voted for Bernie because they trust him more, it was that Trump was speaking more like a democrat than Hillary on economic issues.
Whether its completely worth it is up to you... you're the one having to catch flack and even insane nut who might decide stalking you is a good idea... a 4 minute segment on a bland propaganda network you actually got comments, and that some of these commentators described researching you?
LOL! WTF? Do these people have a life?
Good news, they looked you up. It means what you said got to them. So they're at least trying to think. Albeit like most paranoid nuts, its for confirmation bias that what you have to say must be wrong, because they have already determined it.
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