They’ve already got it~!

The first video became boring. The second video started on about fractional reserve banking. I can no longer stand listening to people who base their ideas on fractional reserve banking.

The Guardian article: Did all those guys really write those responses?

Lots of the old economists spouting Blah Blah Blah.

Fed up with that crap.

Keen has his head on another planet. His proposal will never, ever be accepted. He should come up with something that could be useful or say nothing and keep on “playing the blues” in his band.

http://www.telegraph.co.uk/finance/comment/liamhalligan/9484414/A-message-from-the-1970s-on-state-spending.html 

”
“We used to think you could spend your way out of recession and increase employment by boosting government spending,” boomed the Prime Minister, Jim Callaghan, at the 1976 Labour Party conference.”

““I tell you, in all candour,” he went on, “that that option no longer exists. And in so far as it ever did exist, it only worked on each occasion… by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step…”

Well, maybe. I suppose in his time the BoE was not so supportive by buying up the government debt. Times have moved on.

As the chart pointed out, there is a massive amount of assets held by the few. But, with the relative ease these assets can now be moved around the globe, there is no way that the governments can effectively tax them. In Switzerland they do have an asset tax, but it is a very small percentage. And naturally expenses can be written off against the taxable asset value.

I think the fact that most of the assets belong to the few has always been the same throughout history, whether it has been due to theft, religion, influence and power.

Capital will continue to accumulate more capital. That’s the way it works.

Only through production or mineral extraction will real wealth be made available to the workers. All the rest  working outside these areas are parasitic. With taxes the governments can redistribute some of the wealth created through production, but governments do not increase the net wealth.

The UK is a sinking global power, its wealth is funded by its history of theft.

Europe is a mixed basket of producers, consumers and opportunists. The latter two are heading for a big reset in their expectations.

Dear Mr. Mystic:
 
I often wonder how many people proposing the “tax the rich [solution]” really understand what you explained in the first part of this video.  The “Income Tax” system does what the name implies; It taxes INCOME.  “Income” implies movement, or a “changing of hands” of money.  When money velocity slows, governments’ ability to capture revenue from that movement of money also slows. 

The knee-jerk “solution” is to raise “capture rates” (on high incomes, AKA - ”The Rich”).  Viewing it from a perspective that assumes a “static environment”, this approach would appear to offer a solution (even if only a partial one).  But in reality, the economy, by its very nature, is a “hyper-dynamic environment”.  This approach offers very little in the way of solving the long term “money velocity” problem.
 
Taxing “static wealth” has historically been the purview of local governments.  I’m not sure if our “99%” friends grasp this concept, and do date, I have heard none of the “Occupy” crowd propose a “national net worth tax”.  That is why I believe this whole fuss about “raise the income tax on the 1%” is a silly waste of time.