Economics, The Dismal Science

Economics, The Dismal Science

One can’t understand economic developments without neoliberalism

One can’t understand behavior without behaviorism

One can’t understand nature without evolution.

Related sites: # 125 The Crash On the economic collapse of 2008

#106 Economics, #119 Economic Developments #121 Economics the Dismal Science #111 World Trade Organization A, #116 OIL A

Table 1. Domestic debt* and GDP (Trillions of dollars)

GDP**

Total debt

Household

Financial

firms

Non-financial

Firms

Governments

State-local-fed

1970

1..0

1.5

0.5

0.1

0.5

0.4

1980

2.7

4.5

1.4

0.6

1.5

1.1

1990

5.8

13.5

3.6

2.6

3.7

3.5

2000

9.8

26.3

7.0

8.1

6.6

4.6

2007

13.8

47

13.8

16.0

10.6

7.3

* The federal part of local, state, and federal debt includes only that portion held by the public. The total debt in 2007 when the federal debt held by federal agencies is added totaled $51.5 trillion.

** Inflated because instead of measuring just growth in material wealth, it includes also profits in the financial sector—as though this was derived from the making of durable good. In fact the average American has less purchasing power today than in 1970. Real total wealth has not grown as fast as population.

Current debt stands at $54 trillion (Jan 09)

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They need ports for the supersized ships

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Neoliberals have cooped democracy, and at the head of this is the financial community. Don’t be fooled by the rhetoric, the system is about profits. It aint the words or legislation, but actions which reveals the shadow government. As Aristotle observed: “A democracy exists whenever those who are free and poor are in sovereign control of the government: an oligarchy when the control lies in the hands of the rich and better born.

For the best account of the Federal Reserve (http://www.freedocumentaries.org/film.php?id=214). One cannot understand U.S. politics, U.S. foreign policy, or the world-wide economic crisis unless one understands the role of the Federal Reserve Bank and its role in the financialization phenomena. The same sort of national-banking relationships as in our country also exists in Japan and most of Europe.

These International bankers and Rockefeller-Standard Oil interests control the majority of newspapers and the columns of these papers to club into submission or rive out of public office officials who refuse to do the bidding of the powerful corrupt cliques which compose the invisible government -- Theodore Roosevelt, New York Times, March 27, 1922

Teddy Roosevelt's advice that, "We must drive the special interests out of politics. The citizens of the United States must effectively control the mighty commercial forces which they have themselves called into being. There can be no effective control of corporations while their political activity remains."