How to Save the World from Financialization

1. gloBAAL symbiosis aka mutualism, commensalism, and PARASITism… how to legally parasite off of the hard work and risk undertakings of others.. aka legalised Pyramid / Ponsi schemes.. all nicely wrapped up in complex industry jargon and euphemisms.. #financialization

2. Since we do have a system where money is created out of thin air (which really is ridiculous), for the past 40 years there's been a coup by the bankers to have sole control of it by taking over government finance. 
   They don't want sovereign nations to have the authority to create their own currencies to invest and maintain a healthy public sector. (That's why the EU was created, to force those nations to give up their authority for the ECB-controlled Euro.) Banks hate deficit spending because it competes with their profits from loan and credit card interest, fees and penalties. Wall St loves the Creditocracy they've created and in fact call people who pay off their loans "deadbeats" because they aren't generating income for them.

   A society falls into decay if government doesn't invest in education, healthcare, etc. What progressives are fighting for is nation-state freedom from banker control, who only use deficit spending on the MIC, corporate subsidies and PPPs (public-private partnerships) that use government money to seed private projects that have no benefit to society.

3. If we have workers earning higher wages, what will happen to the economy? Investors will have to settle for billions in profit instead of trillions. Now, is that fair? Apparently change might come only if the post-crisis world yields millions of homeless, starving, and dead. Another feature of neoliberalism is the utter destruction of political mechanism for genuine change and the transfer of politics from the public (government) to private (NGOs I.e. the "green" movement) activity & governance. The existence of a state is increasingly dubious. Currently there is very little state to leverage for any kind of change.

4. My life has become easier since I invested in Avasva projects. In addition, I did it myself.

5. Excellent interview. Would just add this to the conversation:
   https://youtu.be/pkB5ugK0YDY
   Raoul Pal discussing the fragile state of the pension system. Fits well into the discussion of the financialisation of the economy.

6. Nope, I support Anarchy.

7. She makes so many good points.

8. What about financialization of nature?

9. WITHOUT RULES OF SOCIAL UTILITY, POWER IS A TYRANNY

10. THE BANKER FEAR MIDDLE CLASS SOLIDARITY.

11. the only true power still left to us is our power as consumers. which of course cannot be wielded without solidarity.

12. As Michael Hudson said, “ let’s hope that nobody tries to replace the dollar as a exploitation Instrument again.”@1:07:00 , In De-dollarization toward the end of U.S monetary hegemony This is demonstrated perfectly John Perkins book economic hitman.

13. Blakeley is interviewed on radio show Behind the News, Nov. 7, 2019, with host Doug Henwood. Good interview. The neoliberal rationale is bankrupt, discredited, still not solving society's problems. My take is that the economic surplus, or profit, is taken by a small 1% or 10%, the rest get no growth and tighter budgets as prices rise, and as a result the surplus money is stored in financial assets own by the richest, essentially hoarded and wasted. Today the U.S. ratio GDP (annual output) to savings (wealth or household net worth) is at historical high, 1 to 5, or GDP of $21 trillion, wealth at $113 trillion (says Fed's Flow of Funds report, page 2). Wealth has doubled in the U.S. over the past ten years, because all this unused wealth has inflated values of financial assets, owned by the richest, obviously. Not a healthy system. We need a wealth tax, and a total system of democratic take-over of the economy, which Blakeley outlines in her last chapter, and she speaks about on the radio interview. She for instance speaks of a "People's Asset Manager" elected by pension holders to manage their pension assets, to direct the funds into corporations that demonstrate best behavior such as raising wages, supporting unions, democratizing corporate boards, adding employee ownership plans and employee buyouts. She has more ideas. An important book to generate ideas about a democratic economy, which we do not have at all. Average household pre-tax income is around $141,000 to $120,000 (depending) while half earn less than $63,000; and average wealth per household is over $800,000 while 40% can't pay a $400 emergency expense in 30 days. My blog: http://benL88.blogspot.com

14. top notch interview. top notch content. ty.

15. Research RIC from the Yellow Jackets in France

16. The phrase should be "Social Capitalism" A system in which corporate taxes are much higher, CEO salaries capped, guaranteed manufacturing in the USA, take over of Private Healthcare or make them non profits. Thus maintaining employees.. Social Capitalism. Still rewards ingenuity.. The man does a good job of making the common man think of Stalin, Lenin, and Mao. When they here the word socialism. Instead of it being about social conditions.

17. Does this mean that my Pokemon cards are worthless?

18. Neoliberalism, another word for deceit.

19. Read this excellent book. So instructive on Neo-Liberal economics. Insightful, well- articulated and much better than I even hoped. Public banks need to be in the future. Free Assange

20. As long as you have government this will happen

21. I wish I can read this book

22. These institutions "unassailable"?!! IMF Riots is term that's been around 20-30 years!

23. Moloch dislikes this video

24. An email I sent to my kids about this interview:
    “This young woman really nails it. One of the most succinct and thorough explanations of this subject I’ve heard over many years— and I’ve lived through this stuff. I’m especially impressed with her analysis about the way forward. Listen to her answer to the objection about capital flight to get a sense of her comprehensive understanding.”

25. You had me until I heard Democratic Socialism. Ugh. When will people learn you cannot design systems of government to subvert inate human drive for the preservation of self and those biologically close to self over everyone else ? This is why we are in this place to begin with. EVERY SYSTEM regardless what you call it evolves to a form of state sponsored monopoly for those in power ! Call it capitalism call it socialism. It's the same fucking thing. The only salvation is government that limits its role and its powers. That's as good as it will ever get. Not some school girls wet dream of a utopia for all. I would love to be wrong but history is clearly on my side.

26. ROTHSCHILD BANKERS CARTEL and associates around the WORLD

27. Yeah, well, we all know what happens when naive idealism runs into corruption. Naive idealism compromises, and ultimately becomes indistinguishable from all the other mealy-mouthed functionaries. o.O

28. 11:34 to 11:40 Au contraire! It's the only chance we have. With their callus greed, they are going to plunge us all back into the Dark Age. Maybe when they have destroyed themselves and left us common folks unopposed, with hard lessons learned, those who survive the reckoning will do a better job of making a society that works for everyone.
    We already had the New Deal, it was ours! We took it for granted and fell asleep at the wheel as they incrementally nullify its beneficial effects over time.
    They're powerful, greedy and unconscionable. We are relatively weak and stupid: do the math. While Trump is a blatant liar and criminal, he goes largely unscathed because he serves the powerful. If Bernie is elected, they'll find some dupe to point the finger at, then kill him. Better still, they'll induce a fatal heart attack and let his age take the blame. Things are not as those who are actually at the helm would have us believe. They are far worse.
    https://www.youtube.com/watch?v=vb8Rj5xkDPk&list=WL&index=501&t=0s

29. It all begins with inherited wealth. Especially large amounts of multi-generational inherited wealth.

    People born with more money than they can spend obviously go into real estate and finance. They don't need to really work for a living or work to buy normal things. The Reagan Boomers are just used to paying virtually no taxes and getting guaranteed 8%+ yearly returns with no risk (just like classic OLIGARCHS), aka fantasy financial land.

    The entire US economy from 1980-2020 was a fantasy joke. The era of "greed is good" ruined the USA. The Boomer Reagan Era…

    Just ask yourself, who controls the financial products of the USA these days, cause it ain't young people.

30. The best way is to follow the advice of the founders… and get rid of the Central Bankers and the Federal Reserve. And it's going to take a new system that's designed to do just that. http://www.saylor2020.com

31. HOT TOPIC. Public banks, anyone?

32. Collapse is coming and inevitable, there is no stopping whats coming, there is no reforming this system…Bernie Sanders can't save us from collapse….Get off the grid and learn to be self sufficient while our privilege is still a reality…..Soon your income won't be able to feed you, or you'll have no income…..Start to build the replacement now…..

33. Excellent interview, thank you.

34. Unfettered capitalism is masked via illusion of choice.

    One corporation can own 200 smaller corporations that have different names, but they are really just organizations within one corporation.

35. As democracy is the 51% most wealthy hoarding all the land, wealth and power,
    as socialism is the reverse with everyone owning equal land, equal wealth and equal power,
    surely, The Real News is funded by the rich to fool us into thinking that we greed driven and self-absorbed people are not the root cause for the corrupt rich ruling over corrupt USA.

36. The Economic Wargame is a continuation of the Military Wargame by other means. http://www.toxicdrums.com/economic-wargames-by-dal-timgar.html
    How is it that advocates of capitalism, communism and socialism have not suggested mandatory accounting in the schools?

37. Thank god there's always someone half your age but with twice the talent.

38. UBI, Medicare and Tuition.

    Really, there's no difference between Neo-Liberalism and Neo-Fascism.

    They both ruin the quality of life–by using propaganda and your assets to kill you.

39. Didn't Marx already do all of this? That would be YES. And I do not want "democratic socialism" but COMMUNISM which ELIMINATES THE STATE as it withers away. So NO.

40. What were the triggers that sent corporate inclination in the direction of financialization?

41. Basically Wall Street and Little London are humanities biggest Dictatorship oligarchy honestly Democratic Socialism will never happen one big money will brianwash the voting public

42. Americans believe in the Stock Market

43. How does crypto currency play a role in her transition?

44. you need to get rid of capitalism because you can not reform it

45. Neither capitalism or socialism which is her view are the answer and no in between can be achieved because of greed. The lust for money is a thirst that cannot be quenched. Corporations at the top of the pyramid take all the wealth and eats every country's cake to take more. China has a different model that identifies how the imperial west takes the wealth and instead makes the cake bigger for all Chinese to have a better living standard. When corporations get established in foreign countries eventually small businesses mum and pop kind of businesses disappear and this is what China protects it's people from. What she talks about has been around for a long time and this is why the US wants more access for it's corporations into China which China refuses to allow.

46. Finance runs the world and has done so for centuries, the world system is based on money, power and control. The horse of financialization bolted a long time ago.

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