All Our Base Belongs to Them

Bay Area Guy points out:

Not to mention that one of the reasons why our economy is in such shit is that over the past several decades finance has grown at the expense of manufacturing.We’ve transitioned from a production based economy to an almost purely financial, service based economy.
And we wonder why China continues to eclipse us.

Indeed, all our base belongs to parasitical finance capital now. We’re all working for the banksters. For sure all the politicians are. I know who that’s who Morocco Bama answers to at the end of the day: Goldman Sachs. He gets his marching orders straight from them.
Curiously, almost the entire media seems to be on board with the usurpation of the real economy by the FIRE sector. I’m not sure why that is. Why does the US media support finance capital at the expense of the real economy? I guess the US media is run by the US plutocratic oligarchy, and the oligarchs increasingly are tied in with the FIRE sector as a way to make money.
Parasitical finance capital has usurped much of our economy, and there is not much left of the “real economy.” I do not consider finance capital to be part of the real economy. It’s like some gigantic gambling casino. There’s no real value being created. It’s nothing but speculation and jerking off with numbers and spreadsheets. There’s no there, there. Real value is actual products, things, stuff you can hold in your hand, not speculative finance, numbers floating around in the sky, often without any real monetary value to back them up.
Goldman Sachs reported a major earnings drop in the last quarter. This is great news! The only way to get the economy back on track is if we see declining earnings (lower profits) for the banksters. Increased profits for the banksters is bad for all the rest of us. It’s only when these parasites start taking a real financial hit that we can think about reclaiming our economy.

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0 thoughts on “All Our Base Belongs to Them”

  1. First of all, Robert, I’d like to say thank you for making a post based on a comment of mine!
    I do not consider finance capital to be part of the real economy. It’s like some gigantic gambling casino. There’s no real value being created. It’s nothing but speculation and jerking off with numbers and spreadsheets. There’s no there, there. Real value is actual products, things, stuff you can hold in your hand, not speculative finance, numbers floating around in the sky, often without any real monetary value to back them up.

    I 100% agree.
    Out of curiosity, do you then think we should return to the gold standard, or some other standard?
    Goldman Sachs reported a major earnings drop in the last quarter. This is great news! The only way to get the economy back on track is if we see declining earnings (lower profits) for the banksters. Increased profits for the banksters is bad for all the rest of us. It’s only when these parasites start taking a real financial hit that we can think about reclaiming our economy.
    This is indeed excellent news.
    But is there a good way to cause a permanent decline in power for the bankers?

    1. No, we should not go back to the gold standard. Terrible idea.
      What I mean is that a lot of that money or value is on paper only. They are paper profits, paper value, like the value of your home if you are not going to sell it. You can’t eat your house. Recall that a lot of those crap derivatives had a tremendous “value” too, until it was learned that they were worthless, in which case a lot that “money” suddenly vanished.
      If your paper profits are in something worthless, you have a whole lot of “assets” that ain’t worth a fuck. And when the time comes to call in the chips, you won’t have anything to turn in because you were dealing in fairy dust and not real money.
      A decline in their power? Simply regulate them. Real simple. Derivatives should be illegal, number one. Or at least regulated.

      1. I am all for making derivatives 100% illegal. They are in fact worse than gambling. It is akin to your doctor taking out a life insurance policy on you, after he told you will be just fine…And really knows that you will be dead in six months because he will be withholding the proper treatment.
        That maybe fine for Vegas and street thugs, but it has no place in a regulated economy that absolutely depends and operates on notions of investor confidence, reliability and basic fair practices in the market place. Call me naive, but without heavy government regulation, these notions evaporate faster than rubbing alcohol on hot concrete.

        1. “I am all for making derivatives 100% illegal”
          Well, opinions about derivatives might change over time. Though if we ban them it would hard to find the velocity or acceleration of such a change. Sorry, I didn’t mean to go off on a tangent about derivatives.

  2. What do people here think of Ron Paul? He’s the only Republican who seems to NOT be an evil, plutocratic, warmongering fuck.

    1. Personally, I admire his foreign policy views. I totally disagree with him on domestic views since I am basically a socialist, but if all the Republicans were like him, we would be far better off as a nation.

    1. What do you think of Paul? I’d have more respect for libertarians if they advocated an isolationist foreign policy like Paul. Instead, most libertarians are Reagan conservatard pricks.

      1. ” I’d have more respect for libertarians if they advocated an isolationist foreign policy like Paul”
        I thought Paul was only a foreign policiy isolationist though. I think he’s a free trader on economics, which in many ways is just as bad. I also think he’s pro mass legal immigration. Not the best candidate.

  3. this is only mildly off topic, but i am too shallow and politically ignorant to contribute to the topic at hand. Bay Area Guy, your avatar looks like a cross between michael douglass and pat sajak 🙂

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