Chomsky on the economy

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Noam Chomsky: Current crisis demonstrates anti-democratic nature of financial system

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"The common idea ... ( 1 week ago by homer30)

"The common idea that America is an immensely rich and affluent country is very much an exaggeration. American affluence is heavily mortgaged. American carries a tremendous burden of debt to its poor people. That this debt must be paid is not only a wish of the do-gooders. Not paying it implies a risk for the social order and for democracy as we have known it."
Gunnar Myrdal

everything he said ... ( 1 week ago by meziaa)

everything he said was completely wrong lol

The USA would ... ( 1 week ago by jackeatsfish)

The USA would better be served if we were taught what the cost of living/inflation is. Most people, say 99 percent, don't realize that "we" set the stage...pay whatever is asked, guess what? THAT'S THE NEW PRICE! Ex: The value of a dollar was first establish on what "we" all originally agreed to use it for: meaning, everyone ageed $1 bought 1
pound of potatoes. When proprietors ask for $1.25 and we all eventually pay it - Guess
what? The value of a dollar just DECREASED! This was YOU & $ 101

Whats hilarious ... ( 1 week ago by curtnoel9)

Whats hilarious about Chomsky is that the right has NO thinkers on his level. Not one. And that scares them so much that they have to get their shills to come disparage his every move...this man was voted top public intellectual for a reason. And that scares the crap outta them. They remind me of the "B" girl from before the election. Only ones that came close were Friedman and Buckley and we are now feeling the wonderful effects of their "wisdom"....

I'm interested to ... ( 1 week ago by StunnedByStupidity)

I'm interested to know if you have done any research on 'The Singularity' and what this means for 'competition'? We are around 5 years away from a computer with the processing power of a human being. As processing power doubles every 1.5 to 2 years, by 2025 this technology will be available for around $1000. Not long after it is predicted that whole town of peoples intelligence could be encapsulated in that $1000 computer. This will dwarf any humans abilities. So no one gains an advantage...

by their knowledge/ ... ( 1 week ago by StunnedByStupidity)

by their knowledge/intelligence as this will be available to all. If we don't start redistribution of the wealth rapidly this will mean the rich monopolize this technology resulting in what... Nothing pleasant that I can see..
Then there is the problem of the mess free markets make. The fact that the middle and lower incomes have not risen for 30 years. The fact that most of the world is capitalistic and most of the world is poor. And the biggest problem of all with capitalism namely it's

based on ... ( 1 week ago by StunnedByStupidity)

based on exponential growth. There are around 6.7 billion people. The global GDP is around $55 trillion (lest round it up to 67 trillion). Thats $10,000 for every man woman and child. However at this rate of consumption we are taking 1/3 more than the Earth can supply each year. So, if you are earning more than $6,600 you are not only taking more than you fair share but you are destroying the planet and ruining your children's future! If we all lived like Europeans, we'd need

3 planet Earths ... ( 1 week ago by StunnedByStupidity)

3 planet Earths worth of resources. If we lived like people in the US we'd need more than 5.
There is even more wrong with capitalism. Wealth doesn't produce any significant happiness to a nation beyond around $20,000 dollars. Neoliberalism leads to ever more concentration of wealth, leading to ever bigger and more rapid bubbles (this is not the last one!). It has caused catastrophic allocation of resources in relation to peak oil (the latest and most optimistic figure

gives us around 11 ... ( 1 week ago by StunnedByStupidity)

gives us around 11 years to peak oil (some are claiming we have already passed it) and by detailed estimates we need at least 20 years to make a relatively smooth transition - 11 years is very bad news. Capitalism is littered with externalities which is placing a huge burden on the environment (an extinction event comparable to that which wiped out the dinosaurs).
It undermines democracy both through money in politics and trade agreements limiting what governments can do...

And finally it is ... ( 1 week ago by StunnedByStupidity)

And finally it is claimed by some that the present down turn could be calamitous - far worse than is being openly admitted by politicians. In fact high rankers in the capitalist clique have made comments claiming this event alone could spell the end of capitalism (I'm hoping their predictions are wrong BTW).

It was quite a work ... ( 1 week ago by amsd1231)

It was quite a work to read all the statistics that you wrote down, almost all of it I've never heard of before. For the peak oil problem I laugh so hard at. It is true that decreasing oil supply is a huge problem coming up ahead. Decreasing supply and increasing demand means(obviously) a price hike. This opens new door for alternate sources of energy. At current value of USD, $150 a barrel means profitable wind energy, $200 a barrel means profitable solar energy.

To you this ... ( 1 week ago by amsd1231)

To you this alternate source of energy theory might sound like a joke, but price at the gas tank is no joke. For your smart computer technology problem. We can make that computer right now, and we could have made it long before that if we had put enough resources to it. If we do get to manufacture such a computer at $1000, we will get to buy it. Why? Because even if the rich monopolize the technology, there will be sellers to us because mass market is more profitable than a niche market.

Chomsky is one of ... ( 6 days ago by mayb880)

Chomsky is one of the biggest scumbags on the entire planet... he ranks with marx, pol pot, and kim jung il.

Chomsky is right. I ... ( 6 days ago by mianusa)

Chomsky is right. I think that bother some. He reveals too much for powerful mafia.

he is not right.... ... ( 6 days ago by mayb880)

he is not right.... he is a Jew that only cares about other Jews.

What are you ... ( 5 days ago by xxXCALIBURxx)

What are you talking about? If anything he's anti Marxist. He's a classic Libertarian, an Anarchist.

So your solution is ... ( 5 days ago by xxXCALIBURxx)

So your solution is more technology?

no he is NOT a ... ( 5 days ago by mayb880)

no he is NOT a Libertarian... look at who he supports not what he says!

He supported Obama ... ( 5 days ago by xxXCALIBURxx)

He supported Obama over McCain, but he didn't like either of them, much less as his "leader"

of course he ... ( 4 days ago by mayb880)

of course he supported obama, he is a jewish supremacist

Do you have any ... ( 4 days ago by xxXCALIBURxx)

Do you have any proof? He didn't exactly support Obama anyway, let me re-phrase that. He basically told people to, vote for the lesses of the two people. In his opinion, it would most likely be Obama.

Ralph Nader. ( 4 days ago by Nederlandac)

Ralph Nader.

That's right! I ... ( 4 days ago by xxXCALIBURxx)

That's right! I totally forgot he was still in existence.

this coming from a ... ( 1 day ago by iliketigbits89)

this coming from a guy with a name like tupacisalive.. haha..

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