Posted 1 year ago on Jan. 18, 2021, 10:01 a.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
There are layers of abstraction of economy. At each, investors and other non-producers profit at the expense of producers and consumers.
Basic economy is the production and consumption of the stuff of life. A basic economic unit can be an individual, a clan or a small community that produces and consumes all that it needs to live independently. If any still exist, they live in the Garden of Eden. They may have some service providers, like shamans or medicine persons, that participate in consumption but less so in production of food and material goods. Such may be included in what we define as "real" economy, because people desire them.
The first layers of abstraction are mercantilism and trade. Though not required for a sustainable economy, they are useful and/or desirable when their profits are maintainable.
Government and religion, though they depend, like all, on real economy for the stuff of life, are none the less aside from the flow of production and consumption. We generally accept the burden of their support as necessary to the general well being of the community.
The FIRE Sector, which has grown to dominate all human activity in the past few hundred years, is the purest and least needed layer of economic abstraction. It takes no part in the real production that it controls and from which it extracts profits. Since the 1950s, abstractions of the financial abstraction, like leveraged buyouts (with money created on the lenders' ledgers) and high speed trading, have put the parasitic economic disease of finance and inflation of the money supply on steroids. That corruption of the body of our community is exacerbated by government borrowing and FED money creation to further increase the hoards of the billionaire parasites at the top of the food chain.
Understand this! Investment contributes nothing useful for us and takes everything it can from us. Management often is superimposed and like investment, serves only to increase costs by extracting profits from the economic flow. Finance (FIRE) is the prime example, Medicine (not practitioners) Energy, Transportation and Communications have also morphed into top heavy wealth concentration tools.
The solution: Finance, Insurance and Real Estate and critical material services shall be done of, by and for the people on a non profit basis. We must also trim back patent and copyright protections to the benefit and encouragement of actual authors and inventors, as intended by the writers of The Constitution.
The evidence of parasitism of the economy. https://www.statista.com/chart/22068/change-in-wealth-of-billionaires-during-pandemic/
Video link https://youtu.be/i9CdHxJixFI