It Isn’t Socialism…

…to simply and frankly face what a disaster this is.

It’s good that CNN is highlighting a few anecdotes like this.  They put their spin on it, of course, the only one they know:  seeing the whole thing in political terms with a slightly Marxist tilt.

Yet this is a social failure on many levels.  “Income inequality” may indeed be the bottom line, but where does that income inequality come from?

It is fundamentally a function of the monetary system, in which economic power belongs primarily to lenders, and secondarily to borrowers, which may sound paradoxical but really isn’t.

The relatively powerless?  Earners.  The people who put in more than they take out.  The monetary system has so distorted the economy, not to mention the minds and hearts of people, that we no longer recognize true earners even when they are right in front of us, and we routinely impoverish them while we further enrich and empower lenders and borrowers, who are in fact economically destructive leeches by comparison.

And then we wonder why our communities, and indeed the nation itself, are falling apart.

The prospects of the United States will improve when the Bryants’ financial situation improves, and the financial fortunes of Victor Tobin are reversed – and not before.

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1 Comment

Filed under financial crisis

One response to “It Isn’t Socialism…

  1. Zarepheth

    The problem with the monetary system is just a small piece of a larger problem. We give a few private parties exclusive access to land, natural resources, and privileges that come from and gain value from the community as a whole. More importantly, we let those private parties monopolize those resources and privileges, denying access to everyone else.

    The monetary system comes from and gains its whole value from the community as a whole. So long as a few private lenders are allowed to retain for themselves value added by the community rather than the lenders’ own labor, we will have inappropriate distribution of wealth.

    Though fixing the monetary system will help the economy, we must also fix ownership of land and natural resources, along with ownership and control over all other community derived privileges. Otherwise, the lenders will just shift from monopolizing the creation of money to monopolizing natural resources or some other community privilege.

    Like

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