Tag: Capitalism

Old Dog Thought- A budget covered in gifts yet to be delivered of $0.70 a day for Pensioners and $1.10 for middle-income earners by an a-hole who we pay $250 a day. They have been the highest taxing Government this century and lie to boot

Fighting Fake News with REAL 30/3/22; The Budget, Capitalism, Workers, National Planning , Cuba,

Why are young Australians locked out of home ownership? The answer is politics | Intifar Chowdhury | The Guardian

A sign displaying a property sold for Auction in Sydney, September 2021


Indeed, treasurer Josh Frydenberg remarked back in June that the rise is good for the economy. The federal government extended lukewarm sympathies for those who are struggling to get a foot in the property door for the first time, while merrily pointing out that many households are gaining from continued property price inflation. Therefore, price hikes are here to stay because simple solutions – such as building more houses and properly taxing property investments – are not as politically sound. That’s the reality of things: those with power and money impact the market more than those without. That’s why the winners become fatter winners and the losers continue to lose. What we are facing today is not an unsolvable crisis, but there is a lack of willingness to solve it among those in a position to do so.

Source: Why are young Australians locked out of home ownership? The answer is politics | Intifar Chowdhury | The Guardian

All capitalism ‘can do’ is destroy our planet

Private Enterprise created the very problem Morrison says it will now fix. Capitalism is the problem that fucked the climatic “norm” in the first place.

Prime Minister Scott Morrison’s new slogan is hypocritically telling us that our planet’s saviour from the climate crisis is the very thing destroying it, writes Dr William Briggs. NOW THAT COP26 has come and gone, the world seems to be getting back to business. Our Prime Minister assures us that this “business” will be our saviour. All we have to do is to accept that capitalism is the cure and not the disease.

Source: All capitalism ‘can do’ is destroy our planet

Pfizer refuses to share vaccine knowledge as it announces $US36 billion in vaccine revenue – Michael West Media

Pfizer, Covid, pandemic

While rich countries like Australia are reaching 80% or more double vaccination rates, less than 5% of people in many low income countries have received COVID-19 vaccines. Millions are dying while new more infectious strains of the virus develop, reports Patricia Ranald.

Source: Pfizer refuses to share vaccine knowledge as it announces $US36 billion in vaccine revenue – Michael West Media

Inside the “weird” world of DWAC, Trump’s already soaring social media SPAC | Salon.com

US President Donald Trump arrives for a campaign rally at Pittsburgh International Airport in Moon Township, Pennsylvania on September 22, 2020. (MANDEL NGAN/AFP via Getty Images)

DWAC and SPAC are the sounds you’d expect to see in a cartoon voice bubble. DJ Trump is currently the total commercialized product of a comic character like the Joker, an entertainer, a fraudster, a wannabe politician and the living head character in a updated version of Springtime for Hitler on Wall st. He’s the total package and he’s being marketed by people far smarter than him. Money Guns and Lawyers are all involved and are there to protect their asset.

DWAC is what’s known as a “SPAC,” or special purpose acquisition company. The strategy, which has become popular in recent years as a way to sidestep the typically onerous regulatory process of taking a company public, typically occurs when a non-public company merges with a shell company that is already public. In this case, DWAC is set to merge with “Trump Media & Technology Group.”

Source: Inside the “weird” world of DWAC, Trump’s already soaring social media SPAC | Salon.com

What’s Left of Communism in China? | The Nation

China Marks 100th Anniversary Of CPC's Founding

Thus the CCP’s role in the private sector increasingly resembles the one it has in state-owned enterprises. Focused on its own survival,displaying pragmatism, and even an ideological vacuum, it is bringing a growing number of capitalists into its ranks, as it becomes ever more present in companies. This asymmetrical alliance is found outside national borders: The Belt and Road Initiative is accelerating the internationalization of Chinese companies, both private and public, which are creating party cells abroad to supervise their employees. While it has set aside Maoist internationalism, the CCP is now exporting its organizational mode and disciplinary tools.

Source: What’s Left of Communism in China? | The Nation

Old Dog Thought- Dutton was Morrison’s Minister for Home Affairs “keeping us safe” attacking Muslims, Africans and Rugees in Australia. What were ASIO and the AFP’s focus if merely 2 journalists could reveal the extent our homegrown Nazis

Graffiti in suburban Melbourne painted by members of the National Socialist Network.

Fighting Fake News with REAL, 17/8/12; Trump’s Afghanistan; Fox News and Capitalism, Germans and Climate Change; Australian Nazis and the Government;

A new book asks whether capitalism is compatible with public health. (The answer is no) | Salon.com

main article image

Dr. Nicholas Freudenberg thinks that capitalism is damaging to both human health and to the planet. And after reading his new book, “At What Cost: Modern Capitalism and the Future of Health,” it is hard to disagree. The food we eat is filled with toxins. The planet is heating up uncontrollably. And that was true long before 2020: since last year, we have learned the hard way that liberal capitalist societies like ours are barely capable of addressing their most basic responsibility, protecting public health.

A new book asks whether capitalism is compatible with public health. (The answer is no) | Salon.com

Drug Lobby Asks Biden to Punish Countries Pushing for Low-Cost Vaccines

KUALA LUMPUR, MALAYSIA - 2021/03/03: A healthcare worker holds a vial of the Pfizer-BioNTech Covid-19 vaccine during the first phase of the country nationwide vaccination drive at the Hospital UiTM in Sungai Buloh, outskirts of Kuala Lumpur. (Photo by Wong Fok Loy/SOPA Images/LightRocket via Getty Images)

administration is being asked to punish Hungary, Colombia, Chile, and other countries for seeking to ramp up the production of Covid-19 vaccines and therapeutics without express permission from pharmaceutical companies. The sanctions are being urged by the drug industry, which has filed hundreds of pages of documents to the Office of the U.S. Trade Representative outlining the alleged threat posed by any effort to challenge “basic intellectual property protections” in the response to the coronavirus pandemic.

Drug Lobby Asks Biden to Punish Countries Pushing for Low-Cost Vaccines

Is it the Trump-Monster or capitalist Plutocracy? With 250,000 Dead, why is the US Virus Response so Particularly Bad?

the United States has passed the grim milestone of 250,000 deaths. Trump had predicted a worst case of 50,000 deaths last spring, but then Donald Trump could not find his ass with both hands.

Is it the Trump-Monster or capitalist Plutocracy? With 250,000 Dead, why is the US Virus Response so Particularly Bad?

The Top 1 Percent Owns Nearly Everything in the US. We Need to Seize Their Wealth.

wealth disparity in America: the gulf between middle-class white families and middle-class black families. In 2019, the median black family had a net worth of $20,730 while the median white family had a net worth of $181,440. The difference between the two — $160,710 — seems like a lot of money and, to most families, it is a lot of money. But this is because we often don’t realize how much wealth there really is in America. The $181,440 net worth of the median white family is less than one-fourth of the $746,821 they would have if all the country’s wealth were distributed evenly.

The Top 1 Percent Owns Nearly Everything in the US. We Need to Seize Their Wealth.

Don’t Blame Social Media. Blame Capitalism.

A new Netflix film, The Social Dilemma, would have us believe that increasing social division and polarized political rhetoric is the product of Facebook and Twitter, and not the fact that income inequality has returned to pre–Great Depression levels.

Don’t Blame Social Media. Blame Capitalism.

Citizen Musk | The Smirking Chimp

The problem isn’t only that Elon Musk has a net worth of about $100 billion when tens of millions of Americans are barely getting by. It’s that he’s made this money while treating his workers so badly. His wealth quadrupled during the 4 months Tesla forced all workers to take a 10 percent pay cut.

Citizen Musk | The Smirking Chimp

In Desperation, New York State Pays Up To 15 Times The Normal Prices For Medical Equipment | HuffPost

A sad and tired healthcare worker is seen by the Brooklyn Hospital Center in New York, United States on April 1, 2020. (Photo

Trump’s doing nothing but scapegoating 1) the Chinese, 2) Impeachment,3) the States (ODT)

WIthout federal intervention, states and hospitals may only become more vulnerable to the demands of brokers and speculators outside the normal supply chain, said Chaun Powell, vice president for strategic supplier engagement at the national health care consultant Premier Inc., which helps negotiate contracts for hospitals and health systems.

State data shows that New York is paying enormous markups for vital supplies, including almost $250,000 for an X-ray machine. Laws against price gouging usually don’t apply.

via In Desperation, New York State Pays Up To 15 Times The Normal Prices For Medical Equipment | HuffPost

Old Dog Thoughts- Capitalism Covid-19, Scott Morrison.

Fighting Fake News with REAL 17/3/20; Coronavirus Capitalism — and How to Beat It, Scott Morrison & Hillsong;

This crisis — like earlier ones — could well be the catalyst to shower aid on the wealthiest interests in society, including those most responsible for our current vulnerabilities, while offering next to nothing to the most workers, wiping out small family savings and shuttering small businesses. But as this video shows, many are already pushing back — and that story hasn’t been written yet.


Americans are the happiest people in the world – Opinion

Antidepressants make Americans happiest people in the world. 63786.jpeg

While making decisions about migration people should not just follow the superficial perceptive reality. They should try to understand higher and deeper levels of reality. The intellectuals have a moral duty in helping the people to understand the deeper and the higher reality of capitalism.

via Americans are the happiest people in the world – Opinion

Welcome to the age of surveillance capitalism

Illustration: Andrew Dyson

Unless, of course, government and regulators decide to take an active interest. On the current outlook, any such move will not be led by Australia, a country still trying to figure out an electric power policy and how to hook up a national broadband.

Unfortunately, here in the land of the Luddites, we are still struggling with the problems of the last century while Big Tech invisibly decides how we will live in the next. Alexa might know the answer, but “she’s” not telling.

via Welcome to the age of surveillance capitalism

Best of Capitalism-Audios

Recent highlight interviews on capitalism.

Corey Pein examines work, death and disruption in the digital economy. [01:19]
Julie Wilson views life within, and beyond, the neoliberal frame. [47:38]
Nomi Prins explains how central banks became a global superpower. [1:32:46]
Pavo Jarvensivu and Terre Vaden explore near future economics of a world in climate crisis. [2:19:14]
Helena Norberg-Hodge looks towards localization, worldwide. [2:57:47]
Jeff Dorchen imagines a world that can no longer afford itself [3:44:13]

Geoff Mann and Joel Wainwright explore the possible political and economic futures of a planet under rapid climate change. [1:08]
Writer Maximillian Alvarez explores the sanctity of waste and ownership in the digital age. [50:36]
Policy researcher Stacy Mitchell examines the rise and risk of Amazon’s ascendant monopoly. [1:37:40]
Writer Adam Kotsko explains why we are all trapped in the moral logic of neoliberalism. [2:15:05]
Writer Pavlos Roufos dives deep into eight years of managed disaster for the Greek people under Europe’s austerity regime. [2:56:25]
In a moment of truth, Jeff Dorchen bites the invisible hand that feeds. [3:50:27]

Ten Years After Not One High-Level Banker Sent to Jail for Tanking Global Economy, This Man Gets 20 Years in Prison for Stealing Cigarettes

Ten years after the behavior of over-leveraged and fraudulent banks created a global financial disaster that resulted in hundreds of billions of dollars in losses; a multi-trillion bailout using public money; and millions of people losing their homes to foreclosure, but saw not one high-level financial executive go to jail, a man in Florida has been sentenced to a 20-year prison term for stealing $600 worth of cigarettes from a local convenience store.

via Ten Years After Not One High-Level Banker Sent to Jail for Tanking Global Economy, This Man Gets 20 Years in Prison for Stealing Cigarettes

Here He Comes Again: Erik Prince Pushes To Privatize Afghanistan War | Crooks and Liars

Prince’s idea, which first surfaced last year during the president’s Afghanistan strategy review, envisions replacing troops with private military contractors who would work for a special U.S. envoy for the war who would report directly to the president.

via Here He Comes Again: Erik Prince Pushes To Privatize Afghanistan War | Crooks and Liars

Society versus Capitalism. And the winner is … – » The Australian Independent Media Network

Capitalism never fights for fairness or equality of opportunity, only for what it can wring out of those who have not, in order to make richer those who have.

Sports people no longer play for the sheer joy of it. In local competitions they demand to be paid for their unexceptional talents.

Large companies screw down wages and ask their suppliers to supply for less than a fair price then try to pay as little tax as possible, if any at all.

via Society versus Capitalism. And the winner is … – » The Australian Independent Media Network

Day to Day Politics: Is capitalism stuffed? – » The Australian Independent Media Network

In Australia, a similar situation is developing. Wages growth is at an all-time low and the government seems intent on keeping them so. The problem though is that without wages growth consumers don’t have expendable income sufficient to meet consumer demand for goods and services. America has found that out. Conservatives don’t seem to comprehend that you may be able to obtain growth on the back of low wages but if the low wages prevent people from buying what you produce, you have defeated your purpose.

Of course inequality is not just confined to the United States. It is truly universal. The two countries with the highest populations have chosen to improve the quality of life of their citizens with greedy economic capitalism, which is the same system that has caused inequality in the advanced economies. The advances in China, particularly over the past forty years have been spectacular. And at the same time, it is breeding billionaires like confetti. And all on the back of a low wage work force. In 50 years or so, if they continue on the same path, they will face the same problems that the west faces now.

Robert Reich outlines a plan to resolve the issue which is sound in economic rationale.

In the absence of another economic system, capitalism is what we have. The problem with it is its inherent greed and misuse. It is a system that could be moulded and shaped for good. However, the conservative forces of the right of politics seem determined to enshrine the existing hungry evil greed of unregulated capitalism on us.

Revolutionised morally regulated capitalism could if legislated and controlled enable everyone an equitable opportunity for economic success. With equality of opportunity being the benchmark of all economic aspiration and legislation.

via Day to Day Politics: Is capitalism stuffed? – » The Australian Independent Media Network

Where white-collar crime meets a wet lettuce leaf

Brisbane Magistrates Court in Queensland.

“It really does require a sentence to be imposed that will provide adequate deterrence to ensure that investors, who these days often are retired people who have no other means of earning a livelihood except for their investments … are adequately protected,” McLennan told a gobsmacked court.

via Where white-collar crime meets a wet lettuce leaf

Fairfax cuts: the tension between capitalism and the news has reached breaking point | Jeff Sparrow | Opinion | The Guardian

It doesn’t take a genius to understand the consequences for democracy if we lose investigative reporters to an army of Perez Hiltons. Should we consider public funding?

Source: Fairfax cuts: the tension between capitalism and the news has reached breaking point | Jeff Sparrow | Opinion | The Guardian

Social Democracy and Capitalism: A Critique – » The Australian Independent Media Network

By Dr Tristan Ewins Capitalism and its benefits “Restoring ‘a traditional social democratic mixed economy’ is part of the solution to current economic maladies ; but at the same time it is only the beginning of the journey…” 1) Capitalism is an economic system based on the private ownership of the means of production, exploitation…

Source: Social Democracy and Capitalism: A Critique – » The Australian Independent Media Network

PepsiCo’s Bottled ‘Tap’ Water 2000 Times the Cost of a Gallon of Gas AnonHQ

According to Business Insider, the bottled water industry “grossed a total of $11.8 billion on 9.7 billion gallons [of water] in 2012…” equivalent to 2,000 times the cost of tap water per gallon and the regular cost of gasoline. PepsiCo’s Aquafina brand was discovered to …

Source: PepsiCo’s Bottled ‘Tap’ Water 2000 Times the Cost of a Gallon of Gas AnonHQ

7-Eleven Announces Awesome New Slurpee Flavour Made From Sweat Of Exploited Workers!

7 eleven slurpee

Retail franchise 7-Eleven launched an exciting new addition to its range of Slurpee flavours today – made from the distilled perspiration of hundreds of underpaid, overworked foreign employees.

“The harder they work, the more they sweat, the more Slurpees we can produce, and the more money we make,” a spokesperson for the company said.

He said each employee had targets for how much sweat they needed to produce each day. “If they don’t meet the target we’ll report them to authorities and suggest their visas are confiscated. Just telling them that can increase sweat levels by 20%. Genius!”

The new Slurpees will cost $3 for a ‘small’, $4 for a ‘medium’, or $5.50 for a ‘large’, often just referred to in the business as an ‘hour’s wages’.

Designing capitalism’s successor. It’s becoming overly apparent even to conservatives like Murdoch changes are required.

We live in a world dominated by capitalism — yet capitalism itself is quite clearly not working well in its current form; Herman Royce suggests using its innate proclivities and talents to design its own replacement.

IT’S QUITE AN UNDERACHIEVEMENT. It hasn’t just been happening recently, though, it’s been going on for at least decades in one form or another. The Budget still being fought over with tenacity and ill-feeling, months after its announcement, and despite military distractions, is just a recent glaring example. But given the game rules, the dominance of monetary concerns should hardly be surprising.

I explained previously why an economic system built around the notion of profit guarantees instability,  because for someone to profit now, someone else must lose — now or later.

A side effect, however, is that game players inevitably find endless reasons for territorial disputes over entitlements, imagined or otherwise. Indeed, with the possibility of profit urging us on, with enough no longer ever enough and even more barely sufficient, the prospect of less – for whatever reason, whether justified or not – can only be highly objectionable.

Of course, the starting point for threats of less is always the claim that there’s not enough to go round, so we need to tighten our belts, cut back, pull our weight, and a host of other hoary clichés. Mind you, too often, the most cliché-ridden exhorters place little or no demand for sacrifice on themselves, only on those doing less well. But surely this is exactly what a competition of unequals must unleash, with some players more suited to the game by disposition, inheritance, luck, lack of empathy, and/or much else. Competition for profits, after all, is supported and motivated by the pursuit of self-interest, which is sanctified by the game rules.

So, no wonder winners expect losers to pay — or, to use an example frequently reported by Independent Australia, why too much of the media often pedals interests and opinions as news and tries to influence the public and even elections (by shamelessly barracking for one candidate or party and deriding others), as to do otherwise would be to not pursue self-interest.

The net result of our game rules must be perpetual battling, periodic swapping of austerity with expansion for its own sake, endless ebbing and flowing. And as long as we accept the game rules and look at it always from the same basic perspective ‒ the same givens ‒ the longer it will all go on, the more entrenched will be the instability and the ebbing and flowing, and the more extreme and hard fought will be the disputes.

Redecorating the shop window won’t be enough.

The only way to avoid the consequences of game rules as flawed as those of our economic system is to change them, but that is not under discussion except by aberrant types like myself. You certainly won’t hear talk of it in circles of authority or prestige — I doubt it even enters their heads. But it is, above all else, what we need to start thinking about. And to do that properly, we need to take a long view, not one of the self-interested short views currently dominant.

My long view is that nothing lasts.

Civilisation as we know it will not stay forever as it is. Everything has a successor of some sort, even if only entropy. But if capitalism will sooner or later be replaced, then it at least has the choice of determining to help or hinder its successor and the transition to it.

Why waste capitalism’s innate proclivities and talents?

Why not have capitalism design its own replacement, one meant to preserve and enhance the best of what it has produced, yet go further and do better? Why not a competition between corporations (they can afford it) — feasibility studies, design and development, prototypes? It might even be good for the economy. You can still call it capitalism if you want – if you must, if you can’t accept it has moved on – or you can even treat it as the last gift of capitalism.

Whatever, just get over it. It’s had its day.

The basis of any decent replacement for capitalist competition for profits, I suggest, would have to be cooperation for mutual benefit. A lot of what we take almost for granted in modern times would work really well, if only we could trust it to work (and the people behind it). We don’t really trust anyone if we’re in competition with them and that’s what we all are, economically at least. We’d have to cooperate to really change anything — and vice versa. And for that to ever happen, we need to clearly envisage the sorts of social and economic and political systems that would foster and support cooperation.

The good news is that there are plenty of ideas out there already, including participatory economics, inclusive democracy, and a free lunch. But hardly anyone knows about them. Many people – especially those most committed to the status quo or preoccupied with self-interested quibbling and power struggles – would undoubtedly dismiss the ideas without properly considering them, would treat them as impossible by default. But if change is really wanted, true alternatives have to be properly considered, with open minds.

It’s not like the alternatives aren’t attractive. To give one example, the free lunch ideas I’ve previously explained offer not just a one-day working week, but free home ownership without mortgages.

In contrast, the current arrangement forces most people to spend much of their lives slaving away to repay mortgages to banks, a process that funnels money to those who clearly have more than they need, on their terms, from those who actually earn it. And because interest functions like profit, it adds to the system’s innate instability.

Instead, and prevented only by vested interests and lack of imagination, we could all have the equivalent of interest-free credit cards to use for spending as we need, and repaying as we can manage.

Undoubtedly, account balances would shift back and forth between credit and debit as circumstances change, but only in a competitive economy might we expect the arrangement to be abused. In a system based on cooperation, and freed from financial stress by this very method of accounting and other innovations, the vast majority of people would surely act responsibly to stay in credit most of the time. And then, society might finally start working properly, more to its capacities.

Until attention is given to these sorts of possibilities, ideas for genuine change, we will keep quibbling, and repeating history.

It’s the world we live in.