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RE: capitalism run amuck by Korton
David Korton wrote:
> exchange rates and stock markets into wild gyrations wholly
> unrelated to any underlying economic reality.
Who has both the motive to deny economic reality and the power to do so
in the short term?
> To understand what is happening we must educate ourselves
> about the nature of money
> we give to the institutions and people who control its
> creation and allocation the power to decide whether we
> shall live in prosperity or destitution.
Who controls it, how and why?
> Contrary to its claims, capitalism is showing itself to
> be the mortal enemy of democracy and the market.
Capitalism and democracy have nothing to do with each other.
"capitalism is...the mortal enemy of ...the market."
"capitalism is...the mortal enemy of ...the [free] market."
"capitalism is...the mortal enemy of ...[free] market [capitalism]."
"capitalism is...the mortal enemy of ...[capitalism]."
Hmmm, there is a problem here.
"[Modern pseudo-]capitalism is the mortal enemy of [free] market
There, that works.
> Under capitalism, money rules.
Money can't rule, it is not sentient. Who controls money?
> The challenge is to replace the global capitalist
> economy with a properly regulated ...economy
> United Nations, as the protection of people and
> communities from predatory global corporations
> and finance
I can't believe after 69 years people are still shoveling the same
socialist and protectionist bullshit.
I cannot figure out how someone can get so close to pointing on the
problem with [modern] capitalism and still come to all the wrong
I've never seen populism and [free] market economics twisted together so
"I think you have to define what you mean by a free market.
If you have a fiat currency, which is what everyone has in the
world --- ...That is not a free market. Central banks of
necessity determine what the money supply is. If you're on a
gold standard or other mechanism in which the central banks do
not have discretion, then the system works automatically. "
--Federal Reserve Chairman, Alan Greenspan