How can we arrive at common decisions on what is to be valued? Do we value personal bonds or do we value anonymity? Do we value community or do we value individuality? Is there a way to bridge these apparent opposites or dissolve their inherent contradictions, or will they forever be in conflict? What do we value about ourselves? What do we value about others? What do we value in nature, in work, in leisure? And how can we embed these values — both moral and economic — in the very money-form? Ultimately, if we are talking about creating a radically different society, the question of value will have to somehow be detached from money.
This is a major trend that has received almost no attention. Long term it has significant implications: a market without citizen investors has a very different dynamic. For myself, I gave up on the stock market in 2008 believing small investors had become basically just road kill. That view is spreading, as this report makes clear. Click through to see the graphics.
The stock market is at all-time highs, but trading volume on the New York Stock Exchange is at 15 year lows.
Quite simply, the mom-and-pop investor has had enough and is leaving the market.
Owl: Nevada Land Fight About Fracking Over Cattle? Senator Harry Reid Making a Bundle Sponsoring Chinese Solar Power Plant on Public Land Tea Party Calls This Our Tiananmen Square Showdown — Snipers and Blackwater Deployed
The futurist lets it rip:
The real reason they are going after Bundy, making way for the frackers? Mike Adams lays out the case in detail for frackers behind federal persecution of Bundy:
“This document from the Nevada Bureau of Mines and Geology(1) shows significant exploratory drilling being conducted in precisely the same area where the Bundy family has been running cattle since the 1870′s. The “Gold Butte” area is indicated on the lower right corner of the document (see below), and it clearly shows numerous exploratory drilling operations have been conducted there. What’s also clear is that oil has been found in nearby areas and possibly even within the Gold Butte area itself.
Or maybe THIS is the real reason they are after Bundy: Senator Harry Reid & son will make a bundle:
“Back in 2012, the New American reported that Harry Reid’s son, Rory Reid, was the chief representative for a Chinese energy firm planning to build a $5-billion solar plant on public land in Laughlin, Nevada. And journalist Marcus Stern with Reuters also reported that Sen. Reid was heavily involved in the deal as well. [Reid] and his oldest son, Rory, are both involved in an effort by a Chinese energy giant, ENN Energy Group, to build a $5 billion solar farm and panel manufacturing plant in the southern Nevada desert,” he wrote. “Reid has been one of the project’s most prominent advocates, helping recruit the company during a 2011 trip to China and applying his political muscle on behalf of the project in Nevada.” “His son, a lawyer with a prominent Las Vegas firm that is representing ENN, helped it locate a 9,000-acre (3,600-hectare) desert site that it is buying well below appraised value from Clark County, where Rory Reid formerly chaired the county commission.” Although these reports are in plain view, the mainstream media has so far ignored this link.”
Lee Camp: (YouTube 5:30) World Bank President Complains that Internet is Exposing Worker Conditions Worldwide
This short documentary reveals the hazards of the electronics industry in China profiling workers poisoned by chemicals and their struggle for compensation.
Thousands of young people in China enter export factories to make the West’s favorite electronic gadgets, only to find they have contracted occupational diseases or worse, leukemia, by the age of 25.
Benzine is a class one carcinogenic banned everywhere EXCEPT China.
Berto Jongman: Paul Krugman Reviews Thomas Pikerty’s Capital in the Twenty-First Century — The New Guilded Age
New York Review of Books, 8 May 2014
Capital in the Twenty-First Century is, as I hope I’ve made clear, an awesome work. At a time when the concentration of wealth and income in the hands of a few has resurfaced as a central political issue, Piketty doesn’t just offer invaluable documentation of what is happening, with unmatched historical depth. He also offers what amounts to a unified field theory of inequality, one that integrates economic growth, the distribution of income between capital and labor, and the distribution of wealth and income among individuals into a single frame.
. . . . . . .
Piketty ends Capital in the Twenty-First Century with a call to arms—a call, in particular, for wealth taxes, global if possible, to restrain the growing power of inherited wealth. It’s easy to be cynical about the prospects for anything of the kind. But surely Piketty’s masterly diagnosis of where we are and where we’re heading makes such a thing considerably more likely. So Capital in the Twenty-First Century is an extremely important book on all fronts. Piketty has transformed our economic discourse; we’ll never talk about wealth and inequality the same way we used to.
Another climate scientist, who is an SR reader sent me this telling me that while he did not agree with the solution James Lovelock offered, he felt it did represent the growing consensus amongst climate scientists that “stupidity and greed” are going to trump rational good sense. I have long agreed with this assessment.!
We Should Give Up Trying to Save the World From Climate Change, Says James Lovelock
SARAH KNAPTON – Telegraph (U.K.)
by Gary Engler
Dissident Voice, April 6th, 2014
Who runs your workplace?
For most of us the answer is a boss, who reports to a higher boss, who reports to an even higher boss, who reports to a … all the way up to the “owner” of the enterprise. This is called a chain of command.
The words “chain” and “command” are both suggestive of a fundamental truth: Today’s rules about the power of bosses and workers evolved from a time of masters, servants and slaves. While many norms and expectations have changed over the years the fundamental truth that bosses give orders and workers are required to obey remains the same.
This explains the use of the term “wage slavery” by some who oppose capitalism. It suggests that working for wages is similar to being a slave. The Wikipedia entry on wage slavery offers a good introduction to the subject, pointing out the concept is much older than capitalism and that even ancient Romans argued accepting wages for work put one into a slave-like position. The idea that giving up your free will for any reason or length of time makes you a slave is as old as wage work itself.
Interestingly, the usage of the term wage slavery has diminished as a greater and greater proportion of us work for wages. The notion that most of us are effectively slaves is probably too uncomfortable to contemplate. And, of course, not talking about this serves the interests of those who profit from our labour.
But I’d like to suggest there’s another reason as well.
Jean Lievens: Spanish Civil Financial Disobedience – the Story of Enric Duran and the Catalan Integrated Cooperative
With thanks to Stacco Toncoso at P2P Foundation.
“Come Back” is a full-length documentary film detailing the aftermath of Spanish activist Enric Duran’s notorious action against 16 major banks. In case you’re not familiar with his act of “financial civil disobedience”, Duran attained roughly half a million Euros in bank loans and subsequently distributed the funds to support anti-capitalist activist movements. This documentary revisits the years-long preparation for the action itself, and interviews the various groups of activists who consequently benefited from the money. The action also led to the foundation of the revolutionary Catalan Integrated Cooperative, a transition-minded post-capitalist community, which is currently thriving. You can read more about Duran and the CIC in this recent interview with Duran, conducted by Michel Bauwens, John Restakis and Neal Gorenflo.
That any schoolkid could predict eliminating feedback and consequences will lead to a series of disastrously poor choices by speculators and imprudent borrowers doesn’t register with the Keynesian Cargo Cult.