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Mr_Jefferson_24

(8,559 posts)
Fri Jun 10, 2016, 05:18 AM Jun 2016

The Money Cult

By Dmitry Orlov

....Interest rates went to zero because economic growth went to zero. If you are just now wondering why that happened, just google “Limits to Growth” by clicking this link. (A public notice about the scheduled end of growth has been on display at your global planning office for four decades now. It is not anyone else’s fault if people of this planet don’t take an interest in their global affairs. I mean, seriously…)

Interest rates and rates of growth are related: a positive interest rate is little more than a bet that the future is going to be bigger and more prosperous, enabling people to pay off the debts with interest. This is an obvious point: if your income increases, it becomes easier to repay your debts; if it stagnates, it becomes harder; if it shrinks, it eventually becomes impossible.

Yes, you can nitpick and split hairs, and claim that there was still some growth, but in the developed economies most of this growth has been in financial shenanigans, fueled by an explosion in debt, and most of the benefits of this last bit of growth accrued to the wealthiest 1%, and did next to nothing for anyone else. Did this growth help support a large, stable and prosperous middle class? No, it didn’t.

In fact, wages in the US, which was once the world’s largest economy, have been stagnant for generations. In response, the Federal Reserve has been continuously reducing interest rates, until they hit zero in 2008. And there they have stayed ever since. But now, it turns out, that’s not good enough. If the Federal Reserve wants to keep the party going, they have to do more, because…


http://www.informationclearinghouse.info/article44840.htm
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The Money Cult (Original Post) Mr_Jefferson_24 Jun 2016 OP
This is why we need a $15 minimum wage. KPN Jun 2016 #1
Trickledown by any other name. seabeckind Jun 2016 #2
an anti-Semitic meme by an author that rubs elbows with white supremacists & neo-Nazis uhnope Jun 2016 #3

KPN

(15,587 posts)
1. This is why we need a $15 minimum wage.
Fri Jun 10, 2016, 08:15 AM
Jun 2016

Inflation is a necessary consequence of real economic growth, unlike monetary growth.

 

uhnope

(6,419 posts)
3. an anti-Semitic meme by an author that rubs elbows with white supremacists & neo-Nazis
Tue Jun 14, 2016, 03:51 PM
Jun 2016

posted by a DUer that consistently promotes that agenda--like vids from a Youtube channel that promotes the fascist "Slavic Union"--every chance they get.

This article plainly says the "Money Cult" (i.e., religion) is "the cult of the god Mammon." This is a well-known codeword for Jews, used often by anti-Semites, as in the anti-Semitic meme "Jews control the world" and "Jews caused the financial collapse".

The author, Dmitry Orlov, recently co-authored a pro-fascist-Putin screed with "The Saker, Victor Katsap and Evgenia Gurevich". "The Saker" is a Holocaust-denying website cesspool of hatred toward Jews. The piece co-authored by Orlov praised Paul Craig Roberts, another white nationalist well-known by and condemned on DU.

Did the poster of this article accidentally post this on DU when they meant to post it on Stormfront? WTF?

http://www.jewishjournal.com/thegodblog/item/jews_mammon_and_anti-semitism_20090226/

Jews, mammon and anti-Semitism

My perspective on the Leonard Abess story was shaped by an op-ed I wrote two weeks prior regarding the on-again, off-game economic blame game that haunts Jews. I’ve been writing about the financial scapegoating aimed at Jews and reading a lot of books on the history of Jews and money, and the Christian Science Monitor decided to publish my commentary in tomorrow’s paper and online now.
I opened by mentioning Zaccheus, Fagin and Shylock, and then got into the medieval history that pushed Jews into moneylending and prepared American immigrant Jews for their meteoric rise from rural peddlers to international financiers. It concludes:
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