I’ve decided to go ahead and answer some of the comments left on the “Why This MIGHT be the Last Recession” video. And I going to start with a virtual non issue statement: I had this conversation with cary123 and greencommunism in the Communist Debate room the night before I made the video. I don’t know why it is such an important issue claiming that the conversation never took place. This is stupid, it was a private conversation I had with two other people that became a video. So why would anyone deny the conversation took place? Because they are a worthless troll, that’s why. By the way that shite-head user909 is from Rev-Left, he’s been around for a while harassing me and my subscribers. Evidently he didn’t get the memo that the conflict is over.
Now onto the real comments made by people who are not a-holes.
The Economist is deeply worried as well. They said there’s a concern among economists that there are structural barriers to job creation, which is a break with all known historical trends during a ‘recovery’.
They don’t understand why, but we do.
Sometimes you really do just want to laugh out loud at the astounding ignorance of bourgeois economists. For all their Harvard education, elitist tutors and every advantage they could possibly want, they still can’t get it. They have been so heavily indoctrinated that everything Marx ever said is wrong, that it is now impossible for them to even look at crisis theory. Hell, all they have to do is watch 20 minutes of Brendan Cooney videos on crisis theory and they would have it figured out. There are literally 14 year olds who don’t even have a grade 10 education watching this video right now who have it figured out and they don’t.
This inability to recover is precisely caused by a refusal to create jobs domestically. The profit motive demands that they do it in the cheapest way possible, and that means doing it in the Third World. Seemingly they can’t recognise that this “structural barrier” is the profit motive.
In fact this coming second dip in the recession is going to be caused by the same thing as the first one: an overabundance of fictitious values that have no real values to back them up. The failing of the bourgeois economists is that they deny fictitious values exist. If they don’t exist, then they don’t have to be backed up by anything. This pretty much proves Marx’s theory of value to be true.
Sometimes they really are that hilarious.
Capitalism can revive its evil empire by implementing a new cashless system with a unified world currecy standard unit – a credit (for lack of a better word) whih can be variably valuated from nation to nation by a centralized world bank. Hey, I bet we all understood this was where the modern world was going anyway, right? This also might be a great opportunity to evolve from greed to humanism for an economic foundation – or it could just become another foot in the grave for the human race.
By cashless society I am assuming you are referring to the RFID chip implanted in your wrist connected to your bank account theory, or something along those lines. That could be a possibility; the North American Union or the New World Order may actually be the only thing they can come up with to pull their dwindling power out of the fire.
However even this would only be a temporary measure. Even a central world bank would be subject to the same failings and weaknesses that every other bank in a capitalist system is prone too. The world now is basically one huge economy anyway, so this would make everything they do more efficient and simpler. But it would handle none of the contradictions of capitalism that will eventually destroy it.
You are right this is a great opportunity, but things are going to get worse before they get better. We won’t move to a better society just yet, we have to wait for the twitching of capitalism to stop first. Even if it is completely defeated and proven unusable, there will always be some stateless capitalists or some Kulaks that will try to weasel their way in.
“EVEN the stateless capitalists don’t believe printing more money is gonna solve anything”?!?! Fiat money and inflation are the No 1 reason why even minarchists blame the state for recessions. You know about mises.org but you’ve never heard of the Austrian Theory of the Business Cycle?
The ruling class believe printing money is good for THEM, especially Obama’s owners like Goldman Sachs. The politically connected are having a field day – just look at gov’t employment numbers.
I’ve never heard a stateless capitalist say that printing more money is the answer to anything. I’ve always heard them say how much they hate the Federal Reserve and everything it does calling it socialism. Maybe minarchists have said to you that printing more money is the answer, but I’ve never spoken to one who said that.
Any yes I have seen the Mises “Institute”; I especially love what they say about Noam Chomsky. I would never have thought that Chomsky was a Mossad agent of Israel (which is the Mises way of saying it’s a Jewish conspiracy, proving how not racist they are). They also say that Chomsky is part of the New World Order. I mean really, that’s the best they have against him.
Now the banks like Goldman “Kicked in the” Sachs does think it’s a good idea. Of course, they are getting free money to do whatever they want with it. To them this is free power. Theoretically they are supposed to loan it out to get businesses up and running but they aren’t going to do very much of that, citing that the market is bad for “taking risks” right now. This is laughable considering that’s what all capitalist investment strategies are.
Their only solution is to lower the First World working class down to the level of Third World Workers. But even this is only a temporary solution to permanent contradictions of capitalism.