ECONOMIC REPAIR: THE SIMPLE FACTS

(minus gov/media BS)

The main thing that we need to realize is that human resources are always much more valuable that money resources- Economic textbooks praise capital (money and what money will buy, such as factories), While giving human "capital" short shrift. Capital is completely worthless without men to conceive, then build with it. Human creativity is our best investment, not money chasing interest or dividends.

The last major megatheft of this type was in 1929, and it cancered-out from the same causes as this one: business and individual greed, and collusion between business and politicians to profit from these wholesale ripoffs of the common investor instead of acting to prevent them. The history of this has been re-written too many times to cite specific instances from here, but the same forces are acting today, and can be seen in their vending of the nonsensical slogan "greed is good!" The '29 economic smashup was made worse and prolonged because the simple cure would have diminished the fortunes of the culprits who stole the money, along with every other dollar ever printed up to that time.

The simple cure for financial megatheft is to print more money. The hereditary-rich and the over-affluent who control society will not allow their wealth to be diminished this way- They prevent this solution by pointing at Hitler's war-time Germany and shrieking "HYPERINFLATION!" This special, extreme case obviously does not apply here. (The reason that they feel okay giving the $700 billion to banks is that they retain the ability to swiftly yank these tons of money out of circulation; a thing that they could not do if it was given to the persons starving at the bottom of their heap.) In 1929, these Gluttons of Privilege and Power simply dithered, much like the lawyers that most of them were. They argued, delayed, roadblocked the progressives and prevented action. Workers couldn't get paid, merchants couldn't sell their products, the rich hoarded their money because no one could pay anyone back- Citizens hoarded their own money because no one knew when they would get fired or get more money. Farmers stopped farming because no one could pay them a fair price for their produce. Gov crats could not collect taxes from people who had no money or jobs or from businesses that were failing. Instead of simply replacing the money that was stolen, the rulers opened soup kitchens, so that relatively few of their victims actually starved, since starvation of constituents is a fast path to de-election.

We of the taxherd are better educated now, more sophisticated, less gullible and more organized. So are the GOPP. This time they have hidden the problem for at least a year, but once they couldn't conceal it anymore, they did do one commonsense thing: they "restored calm" by insuring their victims' deposits-then they pulled another megatheft to feed the crooks who looted the housing industry and investors' pockets. This they sold as necessary to "unfreeze" the lending institutions. This may help a little, but not in the long run. We have bankruptcy proceedings for this, and all the excuses they have for preventing the super-privileged from going through these established procedures for mis- and mal-management are just lies and attempts to shield. the crooks and preserve the thefts.

Some correct actions to take are these:

Find and create worthwhile employment projects, as was eventually done during the '29 depression. Citizens must be employed at useful work for living wages. Print whatever amount of money it takes to do this, and pay them. Work is always more valuable than money. Value originates at the bottom of society with the workers and funnels upward where it is concentrated into wealth for the few who control the means of production. It is not wise to use this advantage to strangle the workers who make merchants and govts rich. Citizens without wages buy no merchants' products. When incomes are pinched off, so is buying, spending, taxpaying and paying-back. Simply feeding more money to the top will not unfreeze any credit, it will simply enrich the crooks who stole the original money, invite more hoarding and cause more megathefts- No matter now abundantly we re-stuff bank vaults, no bank is going to lend a penny to anyone who can not swiftly pay two back.

They did "restore calm" by finally updating the insurance on deposits that was made into law after the '29 financial megatheft- Over the intervening 80 years, gov/biz crooks colluded to remove all but this one legislative safeguard. Because we slept while they did this, it happened again. Our job as citizens is to force our politicians to re-erect these legislative barriers to megatheft, maintain constant vigilance to make certain that they don't remove them again, and emplace automatic sanctions upon those politicians and merchants who team-up to remove them.

Next, we "restore confidence" by tracking down the crooks who did this and putting them in prisons for very long times. Megathefts such as these occur frequently because there is virtually no punishment for white collar crimes. Financial thieves are usually already rich when they first get caught stealing, and if they are caught, they enjoy rich-mans' "punishment" of merely paying fines. Rich crooks need to go to JAIL, just like the petty thieves do. There is no disincentive when the rich are permitted to simply buy their way out of consequences.

Enlightened societies invest in human capital, such as extra training and education. We don't get much of this with our current pack of short-sighted, re-election-minded, wealth-obsessed politicians. We have to force this legislation past them, because they will never do it themselves. We need a Peoples' Parliament to police our politicians, to enforce long-term goals for humanity instead of letting them waste our limited resources grubbing for individual and dynastic riches.

(See: Electronic Voting: the Ferrari of Citizen Empowerment" on www.jamesbauhaus.org)