Thursday, July 6, 2017

A Cautionary Tale Of Relying On The Especially Volatile Financial Markets...

...Of Our Obsolete Economic Operating System

Connecticut's reliance on the incomes of rich financiers for the lion's share of its state income tax, and property tax, clearly shows just how unreliable markets can be for basing essential revenue on. In point of fact this should indicate just how absurd it is for our nation doing the same thing, only on a larger scale, with more markets involved.

The bottom line here is as simple as it gets. If a system has proven itself as completely unreliable as our current economic operating system has for stable functionality, you would think folks would get the message: Stop relying on it.

And let's be clear here. It does no good to say that: well, there have been unavoidable, and avoidable, market disruptions, with a good portion of the latter that may have been precipitated precisely because of meddling with the operation of the markets by well intended reformers. I say that because however much the latter tends to make things worse (and it can), it is certainly not the only cause, and, in my opinion, is not likely to be the major cause.

No, that belongs to the fact that the world now is in permanent crisis mode, and it is there, in the larger part, exactly because of all of the unpaid for costs Capitalism has created for itself; done so not only by the inherent greed of Capitalism, focused as it has to be on the economics of scarcity, but also because of its habitual short term focus.

Global climate change is one of those things we never paid for upfront with our fuel purchases, and lack of care for just how interdependent things are. The history of resource rape, as well as resource consumption without regard for life time costs, let alone for supply renewal, is another. And then, of course, is the human cost accumulated from all of that scarcity inherently stipulated. And so disruption now is pervasive, and self perpetuating. And the fact that Capitalism is itself so hatefully loving of competition, dwindling resources compete with the ongoing market dominance game, to see which competition set (it's getting cut throat in both sets now, you know) can be the most destructive.

This is madness. How else is one to describe it. To lay it out is to see exactly how ridiculous it has all become, and yet on we seem to go, with the entire mess still in place.

It is long past time to stop it. And the only way that will begin is if everybody begins talking about it openly. Everywhere they can. That's all that I am asking for.

What on Earth Is Wrong With Connecticut?