Oh, no! The stock market is plunging! It’s falling and it can’t get up! If we do not intervene, the world markets will seize and the world as we know it will come to an end! If you have heard this story before, raise your hands. Yet again, the gargantuan scam is afoot with this edifice of corruption and hucksterism. Let me just point out a few things here before we get started.
We were told that Trump’s oh-so-great tax plan would save the economy and create jobs. So, what happened, tough guy? The stock market just ran out of gas only a few miles from this tax plan. Oh, and let me guess what will be required to “fix” it. A bailout from the government? Layoffs? Wage cuts and more belt-tightening bootstrapping measures? As much as the government and Wall Street call to mind clothing such as belts and boots, both are walking around without pants and their bare buttocks are on display to all.
This comes on the heels of much crowing and bragging about the economy growing by leaps and bounds, all of it thanks to the Republican tax plan—or so we were told. Never mind that this tax plan came at the expense of social programs being cut. It was a sacrifice, we were told. Yet, less than two months later, the stock market flops like a fish out of water! The damage is done, the wealthy have their tax cuts, and the poor pay the price—again.
The entire stock market is one huge scam that has been going on for more than a century. Sadly, we have been conditioned that this so-called system is nearly an omniscient being that is best able to run the economy from the ivory towers of Wall Street. But if Wall Street’s greatness is really true, why does it nearly collapse with suspicious regularity, requiring more influx of outside cash, bailouts, and other benefits to survive?
Wall Street is not an omniscient being, it is a parasite. A massive, fat tick attached firmly to the people of the entire world as it sucks the prosperity out of communities globally. It has failed in the 1929 Stock Market Crash and the 2009 Great Recession. To fail once, OK, I get it. But twice it fails and no one sees it needs to be scrapped? Not only that, but the countless recessions it has engineered in between those two events should have caused people to wise up to the swindle Wall Street perpetuates.
It is no mystery that stock market trading is compared to gambling. But instead of mere money, it is also gambling with world food supply such as grain, corn and the necessities of life for people throughout the planet. The defenders of Capitalism will tell you that if a stock market trader buys every last kernel of corn on earth and creates an artificial shortage so he can boost the price beyond the ability of the world’s poor to afford, it is his right to do so. In fact, that decision is lauded as an astute business decision.
What’s more, if millions die thanks to this engineered famine, that’s acceptable too. It’s all about “whatever the market will bear” so far as price goes, even when wealth is created by speculation. If the market can bear the deaths of millions of human beings, so be it. Capitalism sees no crime against humanity because it rests in the legal fiction of not having actually shot or gassed those people like the Nazis did their victims.
This is just one crime among many perpetrated by this stock market that mumbles these magic numbers and demand we chart the future of the entire human race upon those numbers. And no one better dare say “NO!” The market has spoken and anyone who gainsays it is considered a heretic/communist. If we, as allegedly sentient beings, cannot decide on a course of action beyond whatever this stock market decides, we might as well admit that we are all slaves to it and be done with it. Just because some stock prices fall should be no reason to panic. It should be reason to let it fail and those who make decisions to gamble like that suffer the consequences of their decisions. If there is government help to be given, it should be given to the innocent victims among the poor who lose their jobs.
Let me be the heretic and defy these hostage takers. The truth is that this stock market has been playing us since the Great Depression. I think they know they can scare everyone with the specter of another depression and hinting that every little hiccup might lead to people selling apples on street corners and living in Hoovervilles as in the Great Depression. In reality, we already have Hoovervilles, but they’re called “homeless encampments”. And that is now common even when the stock market is rejoicing in good fortune. But this fear tactic works for them, just like the fear tactic of saying Saddam Hussein was “another Hitler” worked for the U.S. government twice in a row to invade Iraq.
If this stock market cannot exist without massive influxes of outside cash to save it, it needs to be gotten rid of, not encouraged. Wildlife experts will tell you never, ever, feed wild bears in the forest. Why? Because they then begin to rely on those handouts for food instead of being self-sufficient and become a danger to innocent people. In time, they will begin to attack people carrying food and game authorities will often have to shoot the bear.
The stock market is presented as an efficient self-sustaining system. Wall Street is actually a wild bear that has been fed by humans and now presents a clear and present threat to our continued existence. (It does, after all, refer to itself as a “bear market” when it’s in peril.) It is no longer self-sufficient because it has grown to rely on handouts from the government. The government meekly complies each time Wall Street extorts us. But then it turns and attacks the innocent with layoffs and eradicates communities where shuttered factories are located.
We can no longer pretend that this stock market serves us. The people running it are dedicated to taking enormous risks and forcing the people of the world to pay the price when they fail. This system must be seen for what it is: a threat. So here’s the deal. No one has the right to make decisions that cost humans their food supply, homes, livings, or medical care. Those are things that cannot be excused as “the cost of doing business”. If business cannot exist without harming people, it is no different than the Nazis. Period. Nazis too believed that they had the right to chart the destiny of others based on an insidious ideology. A market ideology that thrives by making humanity suffer is just as insidious even if the purveyors wear expensive suits instead of brown shirts. Click To Tweet
The stock market plays these silly games and people go into collective anxiety over it. How much longer will we bear this game? We need to say, “So? Let it collapse.” People think if the stock market collapses the stores will be bare tomorrow. But this is the propaganda the stock market has told us for decades to convince us we have a vested interest in keeping this wealthy parasite alive.
This is how it pockets the profits and socializes the losses. It never pays the price. If Wall Street executives bore some of the repercussions of the malicious actions they take, they would make sure not to imperil the rest of us with their business decisions. They would learn from their mistakes, which even small rodents are able to do. Are we to believe this great omniscient Wall Street is unable to learn from its mistakes? If it cannot, then quite obviously it needs to be eliminated, not encouraged.
The stock market presents a threat because it has amassed more power than ought to be in the hands of so few. That the bad decisions (usually intentional decisions, by the way) of a few men and women can pauperize millions of people should never be allowed under any conditions. No one should be allowed to control world food supply, the dwellings of millions, people’s welfare, or their medical care. There is a moral dimension here we need to comprehend that I have not yet touched on.
Food, water, shelter, and medical care exist in a moral dimension of vital necessities to sustain life. While these goods and services can be owned, there is also a communal nature that cannot be removed from them. No one will die if all the music CDs on earth were owned by one man who priced them beyond affordability. But you simply cannot apply this same market dynamic to food, water, shelter, and medical care. Denying necessities people need to live by commodifying resources and pricing it out of their ability to buy is evil. No one has this right. If we say the Nazis were just as guilty for starving people to death in concentration camps as they were for shooting or gassing them, then by our own judgments at Nuremberg, we have indicted ourselves if we allow the stock market to kill people by withholding necessities by way of market speculation.
There need to be clear, unimpeachable laws that do not allow people to profit from harming human beings. If a company decides it can make more profits by controlling all the corn on the planet and raising prices to the point where people starve, this should seen as both immoral and illegal. In fact, such a company should be disbanded and never allowed into business again. Why? Because a demonstrated threat to human life cannot be reformed when it comes to businesses. We need to stop allowing this evil and excusing it as a business model. We need to get back to the moral dimension here and stop pandering to a market philosophy which is nothing more than economic eugenics. We need to remove our own consent from these criminal.
If Wall Street insists on reverting to economic terrorism, stop negotiating with them. Call their bluff! If they come with another hostage taking attempt and start fear mongering by saying things like “there could be another depression!”, resist their extortion. Maybe that will give the government something to do besides get us into another endless war. Perhaps the war on terror they should be fighting is the terror that is being perpetuated by Wall Street. Or we can continue to worry about the future and the wellness of the wealthy? How’s that been working out for us? We keep getting poorer as the wealth of the 1% skyrockets. Our future does not depend on their future. Our future depends on empowering ourselves and freeing ourselves from the terrorists on Wall Street. #WallStreetTerrorists
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Check out the latest Ghion Cast where the issue of Wall Street terrorism and hostage taking is discussed in further detail by Ghion Journal editor Teodrose Fikre
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- Moving Beyond the Value Set of Capitalism - August 23, 2018