Getting a little tired of General Akbar

I'm sick of repeatedly saying it's a trap.
I'm sick of constantly saying that the only meaningful formula of capitalism is unit price minus unit cost times total sales, where total sales is determined by the ability and willingness of the customer base. The lower the price the higher your sales, but this only matters if the higher sales results in higher profits.

Open Thread - 09-16-22 - Crossroads

it_photo.jpgIt feels like we're stuck in history. Here we stand, in purgatory, between the old world order and the new world order. I didn't ask to be here and I'll bet you didn't either, but here we are. If mankind survives, in what form may yet be determined, historians will study this era like no other. We may be, right now, writing the final chapters of a book. A story that will never be duplicated again in the exact manner of biological circumstance. In the balance of evolution, we think of ourselves apart, because of our intellect. Unfortunately, branches do break off from the evolutionary tree.

The worst part is knowing we can't go back. And the future is most uncertain, to say the least. I'm sure most would agree that the past was far from perfect, and I'm sure most would agree that it now looks like paradise in the rear view mirror, with hell bearing down just up ahead, full tilt boogie.

How is it we are here? How is it so many existential means of destruction meet at the focus of mankind, in unison. Economic collapse, famine, climate upheaval, pandemic, war, we were warned for generations of these potential catastrophes, here they are upon us, all at the same time. Is it coincidence? Artificial? Natural? Does it matter?

Civilizations have stood at the crossroads before, but never on this scale or with so much at stake. It may seem like a positive feedback loop that's out of control, like it's totally out of our hands. Like there's nothing we can do to stop it. But I'm not so sure about that.

More below the cliff.

South Africa's white slums movie shows how things have changed.

Many white South Africans are now finding it hard to get decent jobs and housing so squatter camps like Coronation Park are growing rapidly.

WHite people still own most of the wealth in South Africa, though. This film I think is being deceptive about how unequal it still is there.

These are the white people who didn't get ahead enough then to stay employed now.

The Weekly Watch

The Fiasco of Finacialization

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Financialization is a term used to describe the development of financial capitalism during the period from 1980 to present, in which debt-to-equity ratios increased and financial services accounted for an increasing share of national income relative to other sectors.

In other words, we quit making things except currency (and weapons to enforce global USD use). We sent our industrial economy to China and the third world, hollowing out labor and the middle class in the process. Profits became god, people pawns...and the rich became obscenely rich and completed the purchase of the government lock, stock, and barrel.

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Let us begin at the beginning, noting with uncertainty that the curse of the virus envelops humanity like an invisible fog and all numbers are impermanent. As of this writing, covid deaths in the US have passed 300,000 and covid infections number is more than 17 million. These are the highest numbers for any country in the world. (By way of comparison, deaths per 100,000 of the population are: 91.44 US, 96.66 UK, 10.60 India. Fatality/case ratios are: 1.8% US, 3.5% UK, 1.5% India.

Triumph Of The Oligarchs

It's more than likely that you have the wrong impression about the condition of the economy. Most people think we're in a recession, or a depression.
Most people are wrong. We're in a bubble. A massive bubble of historic proportions.
In fact things are so good that some people never want things to change.

In the second quarter 2020 household net worth hit an all-time record.