Comments by "Xyz Same" (@xyzsame4081) on "Forgotten Lives"
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@johnderosa2276 you give the ruling class too much credit. Not to forget biz biz. Sure big tech have their plans, finance are greedy leeches as always, but they could be reigned in by leadership - it is just too easy to buy them off, most politicians are also only spouting the thought stopping clicheés and those the should know better have their heart in the right place but no courage when it matters (the Squad, and Sanders).
And the American people are sheeple. The "clean up" after the financial crisis is on Obama that is the biggest fraud ever carried out. Brazenly. To be sure the Cheney / Bush admin would have done the same.
You are assuming evil but well thought out plans. That are carried out CONSISTENTLY and COHERENTLY. Let alone internationally.
They are clueless, driven, fall for their own propanda (economics) - but if you are at the top of the food chain you can make ALL things turn out in your favor. But they wing it. Winging it is good enough since they own the media and politicians. And the voters do not even inform themselves now when they can easily evade the top down grip on what the public gets to hear and what not.
Especially since the U.S. (and other) voters are propagandized, and ALSO do not see the forest for the trees.
Your comment is a testimony to that. You seem to be worried, but you are not connecting the dots (and it sounds like you listen to people that use clickbaits to get information).
I recommend Dr. Richard Wolff on economics
Listen to Stephanie Kelton on MMT (even if you disagree, it is outside of the box thinking). Get non-ideological sober information on Fiat money (no it is not a fraud, it worked reasonably well for approx 30 - 40 years, might not be the best way to finance an economy though) and the ideas of MMT (debt and interest free money).
I found also the way Dr. Richard Werner explains it very understandable. There is a discussion on RT (Renegade Inc) that is highly informative.
On foreign policy: Grayzone and I follow Larry Wilkerson (fmr chief of staff to Colin Powell)
The olgarchs had a long standing tradition of crushing labor and wages, and they were ready to strike - and they realized the chances of the 1976 decision that money is free speech. Not sure if propping up the Cold War and the Red Scare to crush the strong left parties that with the unions had pushed FDR and given him the leverage for the New Deal was deliberate. Or if it fell into their lap.
Hatred of organized labor and the left was automatic, but there was not much they could do, FDR and a part of the oligarchs saw the pitchforks coming and saved capitalism from itself. But some people were so hell bent on not giving the masses anything that they nurtured the grudge.
Which is easy to nurture if you can pay lots of money to media (or own them) and donate to academia to prop up the ideas that had led to the Great Depression in the first place. Or that happen to give all the spoils of technology and automation to those on the top.
If you have mass production - you also need mass consumption. Productivity rose a lot during the 1920s, but the worker's income growth did not match the increasing output. Does not matter how good your product is and how cost efficiently produced (compared to 1900 or 1910) - if people cannot buy it.
The oligarchs could not make money of producing goods (not to the degree technology would already have allowed). There was a lot of "capital" searching for So they started speculating .....
they just had to bide their time since the 1930s. They seized their chance when unemployment rose for the first time in the 1973 / 1974 because of the oil price spikes. (there was another oil price spike at the end of the 1970s, and the Fed chair if Jimmy Carter strangled the economy with insane interest rates.
That was because he had a mindset to put the interests of rich people and the owners of big fortune ("capital") over the interests of unions and people that make a living by WORK.
Paul Volcker is lauded as brilliant (and principled) man, who followed through with the '"hard" but necessary cure. ironically Carter likely let him go ahead with the unpopular method out of a sense of duty.
Carter is a smart man but not in economics (likely had the same kitchentable economics ideas like most other people.
that was one weaknessed that the oligarchs could exploit, people had lived through the Great Depression, the New Deal era, the post WW2 boom - but they did not understand the economics around it. Also not behind the good times.
The U.S. had brought down federal debt from 118 % of GDP (the highest ever ! not even now it is that high. Now likely slightly over 100 %) to the low 30 % in the early. in only 23 years: 1947 - 1970.
WW2 was very expensive (I seem to remember 4 or 5 trillion in todays money), likely there was some debt already from the Depression era. However: after WW2 the gov. continued with bold spending in order to help with the transition from a booming war to a consumer economy.
The Marshall plan was export subsidy for the U.S. manufacturing industry (and built goodwill in the U.S.). Education, infrastructure (interstate highway), research, sadly also a lot of military spending and more wars. But the record low of low 30 % in the early 1970s was despite the costs of the Vietnam war.
The same bold spending (into research) jobs programs could have happened in the 1970s to migitate the oil price spikes. That should have been a bump in the road.
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