Friday, February 06, 2015

The Massive, Criminal Global Debt Mountain Created Since The 2008 Collapse

Title link here. 

One of the long times on here is that there will never be a recovery.  Ever.  That is, unless we have massive economic reforms that turn this system upside down and place the power into the hands of people and not politicians, the state or corporations.   And that has not waivered one iota on here.   This crisis has nothing to do with a housing bubble.  In hindsight, isn’t it almost ludicrous to characterize this crisis as a U.S. housing bubble?   Yet, there was even a time when all but a very few number of people even understood this symptom of a massive underlying crisis of nearly unimaginable proportions and consequences.   This was never a housing bubble on here.  It was always what it really is.

That global states have loaded up with massive public debt since the 2008 collapse is symptomatic of the crisis of capitalism and for-profit banking that we are witnessing.   In a system of debt-based money, all that has happened under the money printing of the last half a dozen years is that private, for-profit capital and class-based interests have been able to keep their ill-gotten gains while the public treasury has been stuck with the bill of allowing this.   What would have happened if the state had not done so is that this entire global economic system would have collapsed.  And all of those ill-gotten gains by the economic elites, the state, corporations and banks would have vanished.   Instead, the state props up its criminal creations of private banks and class-based capitalism and forces the bill upon the poor and working class.   That is the fundamental reason we now see nations around the world enslaved to massive levels of debt.  And, we now have what are even negative interest rates that are necessary to enforce this level of debt onto the public.   Remember, a long time theme on here, written at times when it would have been considered laughable as the world was experiencing its massive,  pathological mania, is that we are likely to see entire nation’s political systems collapse, major corporations collapse and banking systems collapse.  Even the possibility of money itself disappearing or becoming useless.  

Politicians are the criminal element that binds all of this together.  Politics is an institution of the ego or an institution of control.  Control is only achieved through spiritual, emotional or physical violence.   The state exists for one reason – to perpetuate violence on behalf of state-created privilege, class and hierarchy.   That means private, for-profit banks and corporate capitalism; both creations of the state.   Politicians  are the perpetuators of global state violence on behalf of elites, aristocracy, state bureaucrats, private banks and corporations.  

A debt repudiation is coming in some way shape or form.  Whether that is the method through which Greece is currently experiencing repudiation or many other potential methods is irrelevant.  But the greater truth is the masses did not benefit from the profligacy of this binge.   They never did participate in this binge.  They are experiencing greater and greater poverty as the plutocracy steals more and more.   The masses were simply stuck with the miserable, nonliving wage jobs that allowed class and the state to steal their surplus value of labor and intellectual achievement and the debt bill of the state’s profligacy.  The state and its creatures of capitalism and private banking are trying to take humanity into a dark ages (by enforcing their control through violence) to maintain its ill-gotten economic and political control over humanity.  And now those state criminals are telling the world’s working class and the poor that they have to pay for this is a massive crime against humanity enforced by state violence. 

This is exactly what started the United States Revolutionary War.   The British class-based capitalist system that Adam Smith waxed poetically about in Wealth of Nations written in 1776 tried to enslave the colonies into be the tax slaves to pay for the debts run up by the class-based control constructs of capitalism.   What Smith waxed poetic about, the American colonies were revolting against.   And at its roots were the aristocratic debt binges created by the king’s standing armies, the king’s endless wars, aristocratic and ruling class consumption binges and the private for-profit banks and corporations that created the mechanisms for such looting to actually take place in the first place.

posted by TimingLogic at 12:30 PM

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