The average earnings as a percentage of turnover by oil companies over recent years are around 5%.
The average earnings as a percentage of turnover by the banks and the manufacturers of pharmaceuticals are around 20 %!
So if you’re in need of $100,000 annual treatments for treatment for breast cancer, or if you’re an African with AIDS earning $1 a day, I hope you’ll be pleased that the drug manufacturers are doing so well.
Capitalism is nourished by growth. Without growth it cannot survive. It’s a function of the debt-based monetary system which requires growth to cover future interest commitments.
We cannot easily address climate change without threatening the capitalist system’s very existence. It could be done, but the status quo has its head up its backside and won’t acknowledge the extent of the problem.
Eventually things will change, the sooner that happens the better for your children.
The TPPA isn’t a trade deal; it goes far deeper than that. I have reservations about a deal of which we really know nothing.
If a free trade agreement can’t be fully described in a couple of A4 sheets of paper, then it isn’t a free trade agreement.
The Americans will never give an inch on trade without taking a mile. Or on anything else come to that.
People are saying, “Our great and glorious leaders would never sign up to something that isn’t in our best interests.”
Really? Remember Vietnam? Afghanistan? Iraq? What’s good for politicians isn’t always what’s good for the suckers who voted for them.
Here’s a real expert.
Professor Jane Kelsey remains remarkably civil whilst trying to inform the smarmy middle-aged adolescent, Mike Hosking:
… but never mind, we’re good at rugby and it’s a great place to bring up kids.
Those are good points, except that hundreds of thousands of those kids are brought up in Australia. New Zealand’s economic goose has been gradually cooked by half a century of poor political decisions and short-sighted economic policies. Sadly, like the proverbial frog in the slowly heating pot, most New Zealanders aren’t yet aware of the seriousness of the problem. We’re teetering on the brink of third world status.
The reason this is happening is that we’ve lost the capacity to innovate. Our two biggest income earners are agriculture and tourism, two industries that produce lots of low paying, dead-end jobs. Our prosperity was built on innovation, then we stopped doing it. Sir Paul Callaghan describes this problem in detail in the video link I’ve provided below.
This Academy Award winning documentary film narrated by Matt Damon is really important. If you wish to understand the full extent of the financial crisis and the cynical lying bastards who created it, you must watch this film. It was made in 2010 but is just as relevant today. These people have escaped all consequences and continue to plunder your assets with ever increasing avarice and to set up the next crash.
The link below is the best online version I can find. If the link is broken, have a version in my Dropbox right here
‘Inside Job’ provides a comprehensive analysis of the global financial
crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.
If everyone in the Western world watched this film there would be bloody revolution. My wife isn’t easily moved by the continual stream of information that I plague her with about the awful state of the world, unlike me, she’s a committed Christian and believes that man is incapable of ruling himself and that God will sort us out fairly soon. However, this academy award winning film stopped her in her tracks. She was stunned, astonished, outraged and profoundly depressed by it. Just as I was.
Maybe the deity should pull Her Divine Finger out.
How the Masters of the Universe betrayed us, how we paid, and how we’re still paying
Here’s a full length documentary by Paul Grignon explaining how it’s done. It’s 40+ minutes long, but if you’re pressed for time the first 10 minutes or so will be enough to get you hot under the collar. If you’re not into video, read my summary below.
Most people have trouble believing this stuff. Here’s a recent brief article in The Guardian lifting the corner to look at the sorry truth. Generally speaking, the news media don’t expose this outrage. Too many big players are reliant on the system to flourish and to maintain themselves in the ranks of the 1%.
The Guardian article refers to this document from the Bank of England which, surprisingly, confesses to the hidden-in-plain-sight dirty secret.
The video which resulted from Annie’s deliberations is a must see for everyone who thinks it’s a good idea to keep our planet viable. It’s a must-see even if you don’t give a stuff about the planet but you just need an excuse to get off the madcap consumer roller coaster.
How did big business create a system that puts consumer products on the shelf for a fraction of their actual cost? We’ve all wondered about it. Annie went to find out and it changed her life.
She tells you in an entertaining and disturbing way how this obscene system started, how it functions, and why—one way or another—it cannot last. She’ll tell you the real cost of our addiction to stuff and why your grandchildren will pay for it tomorrow just as the world’s poor are paying for it right now.
Click right here to go to the Story of Stuff website where there’s a lot more stuff about our obsession with stuff. Annie has become the Executive Director of Greenpeace USA recently, so has less hands-on role at the website.
“Do you not know, my son, with how little wisdom the world is governed?” Axel Oxenstierna
Swedish statesman Count Axel Gustafsson Oxenstierna af Södermöre wrote that to his son Johan in 1648. Young Johnny was feeling anxious prior to taking on an important European diplomatic job. Oxenstierner Senior pointed out that the world was—as it still is—run by people a lot less switched on than most of us assume.
It’s been all downhill in the intervening three centuries and I wish I’d cottoned onto the problem a bit earlier myself.
…each of these perspectives comes to the same conclusion, which is that our global economy is out of control and performing contrary to basic principles of market economics. David Korten
Economics 101 from the few who understand
Around the world, those in charge are making a total cock-up of economic management. Here in New Zealand, then Reserve Bank governor Alan Bollard was paid $600,000 p.a. to declare the world’s recession over in 2008; Prime Minister John Key and Finance Minister Bill English have been regularly predicating rosy outlooks upon the overly optimistic forecasts of the same Reserve Bank. They’ve all been peddling fantasy ever since the financial crisis started in 2007. Here I’m posting snapshots from people who really understand what’s going on.
When the meltdown started in 2007 there was a cry around the world of “Why did nobody see this coming?”.
Well some switched on people did, including—forgive my immodesty—One Wild Kiwi. Not because I understood economics all that well, but because I know who does. Hardly anybody listened to the right people, in fact they were derided, abused, and often fired. They were of course correct and if you’d like to know what’s really happening here are some of those people whose views are of value: Continue reading →