“Money is not a force of nature. It is a concept, an idea, a figment of the human imagination. And it is real only to the extent that we allow it to rule our lives and our relationships with one another.” — TCGC Right now, money — the most lethal concept every coughed up by […]
Category: Finance
LIVING IN A MATERIAL WORLD
Black Friday has exceeded all expectations! On what has become the most important shopping weekend of the year, at a time when the world financial system is on the verge of collapse and the US economy is suffering from malnutrition, there were 6 percent more shoppers than last year and each shopper spent an average […]
CORPORATIONS INCREASE THEIR PROFIT SKIM
If the US economy is in a recovery, where is it being felt? By the 1 percent occupying the corporate boardrooms. At the depth of the Great Recession, corporate profits never declined below 5 percent of gross domestic product. And since then, have hit historic highs. According to figures released by the Bureau of Economic […]
NO ONE KNOWS WHAT TO DO
Last week, reporting on the latest meeting of the US Federal Reserve Bank, NY Times reporter, Catherine Rampell, opened her story with this line: “No one knows what to do to fix the economy.” How frightening is that? The US and the rest of the world are being sucked into a vortex of political, economic […]
MASTERS OF WAR
Dick Cheney, the warmonger, has now written his version of events, IN MY TIME, in which he proudly recounts his role in some of the more egregious activities of the Bush administration. For conservatives, who are quick to call for law and order when people begin to get a little restless over injustices, it is […]
HOW CAPITALISM IS LIKE A PONZI SCHEME
In the Ponzi and Madoff schemes, participants were promised a generous monetary return on their monetary investments. In the capitalist version, the investment is not money, but labor. As individuals invest their labor in the production and distribution of goods and services, they are paid wages that enable them to purchase and consume the goods […]
WHAT IS MONEY?
The concept of money is as pervasive as the air we breathe. It governs every aspect of our lives: where we work, where we live, how we live, how long we live. It consumes our thoughts, focuses our ambitions, colors our dreams, sparks our disputes, and stokes our anxieties. It’s here, there and everywhere. No […]