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THE ECONOMY & YOU # (Daily Updated Videos & Articles)
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[quote:Marxist:MV8xNTc4NDI2XzM0NDEzNTgwXzRFOUIzNzg5] [quote:RoXY:MV8xNTc4NDI2XzM0MzcxOTQ3XzREMUMxOUQx] [b]It’s the Interest, Stupid! Why Bankers Rule the World[/b] By Ellen Brown November 08, 2012 In the 2012 edition of Occupy Money released last week, Professor Margrit Kennedy writes that a stunning 35% to 40% of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35% to 40% cut of our GDP. That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the expense of the poor, not just because of “Wall Street greed” but because of the inexorable mathematics of our private banking system. This hidden tribute to the banks will come as a surprise to most people, who think that if they pay their credit card bills on time and don’t take out loans, they aren’t paying interest. This, says Dr. Kennedy, is not true. Tradesmen, suppliers, wholesalers and retailers all along the chain of production rely on credit to pay their bills. They must pay for labor and materials before they have a product to sell and before the end buyer pays for the product 90 days later. Each supplier in the chain adds interest to its production costs, which are passed on to the ultimate consumer. Dr. Kennedy cites interest charges ranging from 12% for garbage collection, to 38% for drinking water to, 77% for rent in public housing in her native Germany. [b]CONTINUE: http://www.globalresearch.ca/its-the-interest-stupid-why-bankers-rule-the-world/5311030[/b] [/quote] This is what Marx termed as surplus value. In other words, your transactional contribution along the chain of exchange which, if you live by the sweat of your brow is your labour, small business or worker, is what you share with the owner of the capital which is ultimately facilitating this exchange. This cannot be avoided in any system that has matured beyond mercantilism in the use of capital, i.e. capitalism. Trying to render capitalism pure, libertarian or green cannot alter the inexorable drive of this dynamic and its urge to globalise. There is almost an element of wizardry to the process which lies in social economy with a strong emphasis on its cultural heart, Anglo-Saxon law. Which is why I consistently maintain that the position of the centres of capitalism, London and NY will always be at the forefront of this global system. These are natural objective processes and a function of the system we reside under. They are not the product of evil men, Lucifer, Illuminati, Reptilian aliens and other such nonsense. They are a function of our economic age. [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
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