Are Financial Adivsers running the US?

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Discussion Overview

The discussion revolves around the influence of financial advisers on U.S. presidential decisions and policies, particularly in the context of economic crises and bailouts. Participants explore the implications of this influence across different administrations, questioning whether it leads to a prioritization of the financial sector over broader public interests.

Discussion Character

  • Debate/contested
  • Conceptual clarification
  • Exploratory

Main Points Raised

  • Some participants suggest that financial advisers have maintained a consistent presence in the White House, influencing decisions regardless of the political party in power.
  • Concerns are raised about whether policies, such as the foreclosure settlement, reflect genuine presidential intent or are driven by pressure from the financial sector.
  • There is a belief among some that the financial sector's influence creates a moral hazard, as seen in the lack of consequences for major financial institutions after the economic meltdown.
  • One participant argues that the government's reliance on cheap money is inflationary and benefits the financial sector, creating an "unholy alliance."
  • Several posts touch on the perception of communism and socialism in American political discourse, with some participants questioning the relevance of these ideologies in current discussions about financial influence.
  • There are speculations about the motivations behind presidential appointments, with some suggesting that presidents may feel compelled to align with the financial sector once in office.
  • One participant expresses skepticism about the ability of the average American to effect change in this system, while another notes that the current situation seems acceptable for most Americans.

Areas of Agreement / Disagreement

Participants express a range of views, with some agreeing on the pervasive influence of the financial sector, while others debate the implications and motivations behind this influence. No consensus is reached on whether this is a significant problem or how it should be addressed.

Contextual Notes

Participants reference various media and literature that critique the financial sector's role in politics, indicating a shared concern about the implications of this influence. However, there is no agreement on specific solutions or the extent of the problem.

Pythagorean
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Are Financial "Adivsers" running the US?

I recently saw "Inside Job" and realized (or was made to "realize") how the same circle of financial advisers has managed to stay in the white house through several presidencies, left or right.

So while we bicker about left vs. right, it seems that many decisions made by both left and right presidents have this dominant fiscal component to them that tends to favor the financial sector.

For examples, the foreclosure settlement. Is this really something Obama wanted or is he under immense pressure from the financial sector?

Is this a real problem we should be confronting?
 
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Pythagorean said:
I recently saw "Inside Job" and realized (or was made to "realize") how the same circle of financial advisers has managed to stay in the white house through several presidencies, left or right.

So while we bicker about left vs. right, it seems that many decisions made by both left and right presidents have this dominant fiscal component to them that tends to favor the financial sector.

For examples, the foreclosure settlement. Is this really something Obama wanted or is he under immense pressure from the financial sector?

Is this a real problem we should be confronting?

It seems so to me. I approved of the bailout of both the financial sector and the auto industry, but I think it is shameful the way Obama let the financial people in his administration keep him for forcing any consequences on the wall st organizations that caused the meltdown in the first place. Personally, I was in favor of a firing squad but I would have settled for some jail terms and big fines.

The "too big to fail" is STILL not in any way addressed, as I understand it, and the whole mess could happen again. Obama has added a massive moral hazzard to the situation by not forcing consequences.
 


The government depends on cheap money to finance their budget. Cheap money is inflationary. The financial sector likes cheap money because it allows them to loan more money. It is an “unholy alliance”.
 


> financial advisers has managed to stay in the white house through several presidencies, left or right.

Americans are very funny. Do you call everybody, who is scared of communism "a leftist" or "right-winger"? :smile:


But you think exactly like a marxist. Do their next step, call your "democracy" a dictatorship of the bourgeoisie
 


I'm not sure I understand your post. Presidents run as republicans or democrats here (even though they are all a little moderate). My point was simply that it doesn't seem to matter which party is in the white house, we still seem to bow to the financial sector.
 


valjok said:
... Do you call everybody, who is scared of communism ...

I don't think Americans think much about communism one way or the other any more. It has been proven to be an utterly bankrupt (both morally and financially) philosophy when actually put into practice, so there's nothing to BE afraid of.
 


Maybe he's referring somehow to the buzz-word "socialist"?

Last time I heard a reference to communism was a vietnam movie.
 


phinds said:
I don't think Americans think much about communism one way or the other any more. It has been proven to be an utterly bankrupt (both morally and financially) philosophy when actually put into practice, so there's nothing to BE afraid of.

If you dislike communism, you are not left. How do you disprove this statement by reproducing the anticommunist propaganda?

As part of off-topic, I must say that though it might be unstable, at least in the popular forms it was practiced, it is bankrupt morally only because you are being distorted by capitalist propaganda since childhood. This propaganda teaches that black is white and white is black.
 


I presume your posts presume too much valjok... Otherwise you are being unclear and misinterpreting language.
 
  • #10


valjok said:
If you dislike communism, you are not left. How do you disprove this statement by reproducing the anticommunist propaganda?

As part of off-topic, I must say that though it might be unstable, at least in the popular forms it was practiced, it is bankrupt morally only because you are being distorted by capitalist propaganda since childhood. This propaganda teaches that black is white and white is black.

I take it you are a strong believer in communism. Well, good luck with that.
 
  • #11


Pythagorean said:
I recently saw "Inside Job" and realized (or was made to "realize") how the same circle of financial advisers has managed to stay in the white house through several presidencies, left or right.

So while we bicker about left vs. right, it seems that many decisions made by both left and right presidents have this dominant fiscal component to them that tends to favor the financial sector.
Yes, that seems to be the case. "Money, Power, and Wall Street", "Inside the Meltdown", and "The Warning" were interesting also.

Pythagorean said:
For examples, the foreclosure settlement. Is this really something Obama wanted or is he under immense pressure from the financial sector?
It's a huge lobby, and Obama did fill key positions with people whose past positions/behaviors suggest that they're aligned with the financial sector ... maybe to a fault ... when he could have filled those positions with people who were known to be in favor of reform and regulation and increasing transparency and diminishing the financial sector's percentage of the economy.

Pythagorean said:
Is this a real problem we should be confronting?
It seems to me to be a problem. How would you suggest dealing with it? Apparently Obama isn't part of the solution, and it seems clear to me that Romney's aligned with the financial sector.
 
  • #12


ThomasT said:
Obama did fill key positions with people whose past positions/behaviors suggest that they're aligned with the financial sector ... maybe to a fault ... when he could have filled those positions with people who were known to be in favor of reform and regulation and increasing transparency and diminishing the financial sector's percentage of the economy.

But why do presidents continue to do this? It appears to me that it doesn't matter who the president is; like once they sit in the seat, they realize the financial sector's hand was waiting to grab them by the balls.

Or maybe financial sector was there in the beginning, ensuring presidency to all who would play well?

Isn't it worth trying to analyze motive when we see a trend like this?
 
  • #13


Pythagorean said:
But why do presidents continue to do this? It appears to me that it doesn't matter who the president is; like once they sit in the seat, they realize the financial sector's hand was waiting to grab them by the balls.
You should probably phrase this a bit differently to avoid an infraction. Just a suggestion. But, yeah, your statement has a certain "ring" of truth to it ... to my ear.

Pythagorean said:
Or maybe financial sector was there in the beginning, ensuring presidency to all who would play well?
Maybe. Either way it seems pretty clear that the financial sector is exerting a lot of influence on legislative actions and administrative policies.

Pythagorean said:
Isn't it worth trying to analyze motive when we see a trend like this?
The motive is money, imho. The underlying cause is that people are greedy ... at least sometimes. That's just my opinion of course.

I don't think there's much need to analyze. What can the average American do about it? Not much, imho.

The good news is that things seem pretty OK across the board for the vast majority of Americans. So, I'm just enjoying the ride for as long as it lasts. It is possible that things in the US can get a lot worse ... for most Americans -- and, imo, if people keep voting for major party candidates, then that's almost assured. But then, what's the alternative? As I mentioned, I believe that we're all somewhat greedy at least sometimes, and sometimes motivated by money to the exclusion of arguably 'higher' goals.

EDIT: Things like calling and writing elected officials to support actions which minimize the probability that financial players might really mess things up again do help, I think.
 
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  • #14


Here is a link to Money Power & Wall Street all four hours of it. It can be viewed one segement at a time.

http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/

I had no idea that the FED loaned money to foreign banks?? It makes it sound like the financial sector running the show isn't just made up of American interests.
 
  • #15


The good news is that things seem pretty OK across the board for the vast majority of Americans. So, I'm just enjoying the ride for as long as it lasts. It is possible that things in the US can get a lot worse ... for most Americans -- and, imo, if people keep voting for major party candidates, then that's almost assured. But then, what's the alternative? As I mentioned, I believe that we're all somewhat greedy at least sometimes, and sometimes motivated by money to the exclusion of arguably 'higher' goals.

The news is only good for the bankers who caused the crisis as they are now back to doing business as usual.

Anyone who bought a home after about 2002 , depending on location, is now underwater. And that includes people who didn't buy more house than they could afford.
 
  • #16


ThomasT, don't get banned again! Lol

But when did you figure this all out? This is no new fact. When the government turns to businesses for help, or when your presidential candidates are backed by businesses, and senators are align with businesses, you'll see your country being run by big business. This is nothing new, it is apart of this capitalist society.
 
  • #17


edward said:
The news is only good for the bankers who caused the crisis as they are now back to doing business as usual.

Anyone who bought a home after about 2002 , depending on location, is now underwater. And that includes people who didn't buy more house than they could afford.

Not only bankers. Private housing is incredibly expensive infrastructure compared to compact cities of tall buildings, with no place for private cars. But, you need a planned economy to build the economy and eco-cities. Capital cannot benefit from it. Do not blame everything on bankers. Private housing feeds builders, automobile and oil industry. Blame your dreams and capitalist society. It cannot live without cricises. What is more dangerous is that in the race for profits, people devastate the nature.
 
  • #18


phoenix:\\ said:
ThomasT, don't get banned again! Lol
Right ... well, I don't think I've insulted any countries or ethnic groups since my return. It's tough being a gnarly curmudgeon. :smile:

phoenix:\\ said:
But when did you figure this all out? This is no new fact. When the government turns to businesses for help, or when your presidential candidates are backed by businesses, and senators are align with businesses, you'll see your country being run by big business. This is nothing new, it is a part of this capitalist society.
I think that's pretty much what I said. However, I don't think that questionable business and financial practices are necessarily inevitable. That is, the mass voting public can have a more direct influence than just casting votes once in a while, imo. But it requires actually contacting elected officials via phone, email, letter, or in person to let them know how you want them to vote on various issues. Politicians do like the perks and money that lobbying groups offer, but they also want to get reelected. Maybe I'm just being naive.
 
  • #19


edward said:
The news is only good for the bankers who caused the crisis as they are now back to doing business as usual.
Yes, it's been inordinately good for some (most?) financial institutions. But it's also been good, or OK anyway, for many businesses and a significant proportion of the populace not involved in finance.

Eg., my situation, and the situations of most of my friends hasn't been significantly adversely affected by the financial crisis. And none of us are rich. The rate of inflation hasn't unduly increased as far as I can tell, and the vast majority of Americans are employed.

The unemployment rate seems to be generally declining.

edward said:
Anyone who bought a home after about 2002 , depending on location, is now underwater. And that includes people who didn't buy more house than they could afford.
I'm guessing that home prices will recover (not back to what they were during the bubble maybe, but enough so that tens of millions of homeowners aren't under water) ... in the foreseeable future (that is, within my lifetime ... I'm 65).

But of course, if nothing is done to prevent or at least minimize questionable practices by financial institutions, then the probability of another serious economic crisis within my lifetime remains uncomfortably high, imo.

And I think that this is something that individual Americans can influence.
 
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  • #20


ThomasT said:
Yes, it's been inordinately good for some (most?) financial institutions. But it's also been good, or OK anyway, for many businesses and a significant proportion of the populace not involved in finance.

Eg., my situation, and the situations of most of my friends hasn't been significantly adversely affected by the financial crisis. And none of us are rich.
Yes, for the vast majority of the population, the real impact of the financial crisis has been minimal. The people most hurt are the ones who became unemployed (and their families), who probably amount to something like 10% of the population.

I was hurt slightly by working a few percent fewer hours than "normal" for me in 2008 and by a temporary freeze on raises and benefits at work. But this was mostly offset by tax cuts and a reduction in interest rates - for my mortgage and for the car I'm about to buy. All in all, it is tough for me to characterize a reduction in gains as a loss.
 
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  • #21


Without a doubt banks are running the country.

The financial blogs and insiders are all a buzz with what was a whistle blower letter to the CFTC by a supposed JP Morgan employee:

http://articles.businessinsider.com/2012-03-16/wall_street/31199386_1_jpmorgan-chase-open-letter-mf-global http://ftalphaville.ft.com/blog/2012/03/16/926591/gartman-ponders-the-1st-whistleblower-of-many/

Now maybe that letter is fake, but it is interesting to see that JP Morgan just lost $2billion through bets on more shenanigans.
Upon retiring, even CFTC judge Painter gave insight into how the entire system is riggged through his whistle blowing:

http://articles.latimes.com/2010/oct/26/business/la-fi-hiltzik-20101026
Even when his word comes wrapped up like a bombshell.

Painter, 83, detonated that bombshell recently in the course of announcing his retirement as an administrative law judge for the Commodity Futures Trading Commission, effective in January. In a public notice, he accused his lone colleague on the CFTC bench, Bruce Levine, of having made a vow nearly 20 years ago never to rule in a complainant's — that is, an investor's — favor.
...

When I reached Painter again last week, he didn't seemed to have changed much. "It's gone to hell," he said, referring to the standing of the investor at the CFTC. "But it's always been that way, hasn't it? We're not prosecuting the bad guys." For the record: He sounded perfectly lucid.

Under normal circumstances, Painter's view might be taken to heart by the bureaucratic establishment in Washington. It was regulatory agencies' failures to look out for consumers that helped win enactment of a new consumer protection agency this year. Furthermore, the CFTC has long had the character of a place where regulations go to die — although, to be fair, that's not entirely the fault of its commissioners.

In 1998, during the Clinton administration, then-CFTC Chairwoman Brooksley Born urged Congress to place over-the-counter derivatives, then a $100-trillion business, under the agency's control. She was rudely slapped down by her fellow financial regulators, who said things were fine. That was before derivatives helped bring down Enron Corp. in 2001 and the world financial system in 2008.

One of Born's predecessors as CFTC chair was Wendy Gramm, wife of former Sen. Phil Gramm (R-Texas), who pushed through key financial deregulatory legislation while he was senator.

After leaving the CFTC, Wendy Gramm joined the Enron board. She was still there when the company went under. The CFTC chair to whom Judge Levine supposedly made his pledge, according to Painter, was Wendy Gramm. (I couldn't reach her or Levine for their comments on Painter's remarks.)
http://articles.marketwatch.com/2012-05-11/commentary/31655422_1_markets-wall-street-financial-crisis
 
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  • #22


I don't see how you draw a link between an accusation that JP morgan is manipulating markets and making money hand over fist with JP morgan blundering billions through incompetence
 
  • #23


When you've got an abundance of cheap credit that should not be cheap, then you are bound to get problems. When you combine cheap credit with an encouragement to speculation, then it's even worse.

I watched an interview with Charlie Munger and I agreed with his stance that in a good economic climate, one should be looking to invest in things that are good in terms of long-term results, and for things that actually benefit society whether they be business ventures, infrastructure projects and so on.

The only reason though that I don't agree with this 'at this moment' is because the integrity of the system is broken. When you have a situation where people even think or hesitate for a moment to think that there is 'confidence issues' with a currency or some kind of capital, then you know this is a huge problem.

When you have a structurally sound system, then there is no need for people to hoard gold and silver, but unfortunately we don't it this way. If you think I'm way off or kidding, then why don't you look at the ratings for specific kinds of debt just to get a sanity check.

I have heard some people support buying gold and silver and others saying that is crazy, but the gold bugs have the right idea when there is a lack of trust in monetary policy. We don't necessarily need gold, but when you let human beings in charge of things (especially things that affect everyone), then the 'hundred year floods' as they call it in finance wipe everyone out and I can't blame some people for being 'cautious'.

I would rather, like Charlie Munger, have an environment where investors can look at investing in businesses and other projects rather than having to worry about gold and the soundness of the underlying system, but this means having either a management that has the utmost integrity, social responsibility, and loyalty to the public at large or to implement a system that is the most weatherproof to corruption, fraud, and misdemeanor of any kind.

Unfortunately I don't have faith in the human race having someone with the former attribute and one reason to back this up is to look at history in terms of the fiat systems and the following chaos that ensued when people got too greedy.

Charlie Munger also made mention of dealing with short-term traders with liquidity and I think that this is an absolutely fantastic idea IMO.
 
  • #24


Once folk come to terms with the fact that the world always has, is, and always will, be ruled by plutos (plutocracy) no matter it's guise, they are generally better off.
 
  • #25


alt said:
Once folk come to terms with the fact that the world always has, is, and always will, be ruled by plutos (plutocracy) no matter it's guise, they are generally better off.
Always has? Nonsense.
 
  • #26


ThomasT said:
the vast majority of Americans are employed.

The unemployment rate seems to be generally declining.
The US job situation bottomed out in Jan 2010, but unfortunately it has stayed oin the bottom since then.

Employment to population ratio
http://data.bls.gov/generated_files/graphics/latest_numbers_LNS12300000_2002_2012_all_period_M04_data.gif

http://data.bls.gov/timeseries/LNS12300000

58% of those over age 16 are employed, but that is not so vast a figure.
 
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  • #27


alt said:
Once folk come to terms with the fact that the world always has, is, and always will, be ruled by plutos (plutocracy) no matter it's guise, they are generally better off.
I think that this is essentially correct. Landowners, business owners, money changers, the wealthy in general, always have been and are always going to be able to exert an inordinate influence on government officials, imho.

I have no idea to what extent this might be true. But, wrt some extent, it certainly makes sense, and, from our common experience regarding the felony indictments of hundreds (thousands?) of government officials in the US, and situations in certain other countries ... we know that government officials have been bought, coerced, extorted, pressured, etc. Thus, a reasonable assumption is that any of them can be bought, coerced, extorted, pressured, etc.

Thus, no elected official should be trusted. This is, imo, the basis of the US separation of powers. But if all the governmental powers are corruptible (corrupted?), then who you going to call?

OK, I don't think it's that bad ... yet. I think that there are, still, lots of people in governmental hierarchies who aren't corrupted. In fact, wrt events in other countries, this seems certain. Wrt Mexico, for example, the good people pretty much get killed. But, wrt the US, it's much more complicated. More buffers. Lots of buffers. But the influence seems to be there, nonetheless.

I'm disappointed in Obama because he seems to me to have succumbed to the pressure of the financial sector.

Is the financial sector running the US? Imho, no. Is it exerting an undue influence on governmental policies and legislation, to the detriment of the country? Imho, yes.
 
  • #28


ThomasT said:
I think that this is essentially correct. Landowners, business owners, money changers, the wealthy in general, always have been and are always going to be able to exert an inordinate influence on government officials, imho.

I have no idea to what extent this might be true. But, wrt some extent, it certainly makes sense, and, from our common experience regarding the felony indictments of hundreds (thousands?) of government officials in the US, and situations in certain other countries ... we know that government officials have been bought, coerced, extorted, pressured, etc. Thus, a reasonable assumption is that any of them can be bought, coerced, extorted, pressured, etc.

Thus, no elected official should be trusted. This is, imo, the basis of the US separation of powers. But if all the governmental powers are corruptible (corrupted?), then who you going to call?

OK, I don't think it's that bad ... yet. I think that there are, still, lots of people in governmental hierarchies who aren't corrupted. In fact, wrt events in other countries, this seems certain. Wrt Mexico, for example, the good people pretty much get killed. But, wrt the US, it's much more complicated. More buffers. Lots of buffers. But the influence seems to be there, nonetheless.

I'm disappointed in Obama because he seems to me to have succumbed to the pressure of the financial sector.

Is the financial sector running the US? Imho, no. Is it exerting an undue influence on governmental policies and legislation, to the detriment of the country? Imho, yes.

One thing I have noticed is that many people complain about the state of things, but very very few want to actually do something about it.

Doing something about the situation means taking responsibility, and when you are dealing with things that affect more and more people, the the responsibility jacks up quite a bit.

People should be setting an example and thinking about what they do. If they want to step up to the plate and they think they can do a better job, then step up to the plate.

We both individually and collectively define the rules and I would bet that most people would rather convince themselves that everything will be 'ok' if that means convincing yourself that someone else who you don't know, who you can't read will do a job. In some ways it's like giving a random stranger on the street $1000 dollars and telling them to wait there for five minutes: you might be lucky to get a few people that will wait, but I wouldn't hold my breath for the majority.

Personally I'm not dissappointed with anyone politician, banker, or tycoon of any kind: I'm dissappointed in us collectively as a species.

When people take responsibility, it means that they are putting themselves out there and on the line for everyone to see, disect, and absolutely rip apart. But this is the cost of growth and in this modern age, we end up discouraging this and it is destroying us from ever reaching our potential as a species.

Instead of kids having to struggle and do 'real' learning, we tell kids how to get the right answer all the time: this means when they get into the real hard world, they snap like a twig and can't handle 'the real world'.

Instead of people taking responsibility for their own misfortunes, we encourage people to sue the other party to make a quick buck 'just because they deserve it'.

We encourage people to buy stuff they don't need and can't afford and they convince themselves that 'it'll be ok! I deserve it! If I can do it, then I should do it! My friends are doing it! It makes me feel like a real human being!'

With regards to finance, I don't think people realize that people are in different societies where people can earn their own money! Not only that, they can spend it on what they want! Some people don't realize what a luxury this is in comparison to what it used to be like! Hell the aristocracies of the past didn't even let the peasants read or write! Only royalty knew reading, writing, and arithmetic!

In the past, the peasants couldn't do this! You don't have this in purely communistic or socialist paradises!

But look what is happening: instead of being responsible with the money, people are wasting it and being completely irresponsible and look what happens!

But all of these things don't get me mad: what gets me mad is that everyone looks for a scapegoat, and the scapegoat is us both individually and collectively and no-one wants to hear this.

People want to fix up things? Send a message. People can get out of debt and encourage others to do so: this sets a precedent. People want to encourage businesses to do certain things, then let them know when you decide to purchase something.

Don't like what the big corporations are doing with how they effect the economy and jobs? Stop buying their stuff. Don't like the public school system? Teach your own kids and take responsibility for their learning.

It's hard to do these things because the first thing you have to do is acknowledge your own responsibility which means admitting something that opens you up to all kinds of criticism of any kind which you will have to look at objectively and respond to, and for this reason I understand why many people don't want to do it.

This experiment has to shown what happens when you give people luxuries and privileges that they don't take seriously and where they don't think about the consequences of their actions, and it's probably the best thing to see, just like it would be great for a drug addict to hit the absolute rock-bottom before they decided to get off the drugs and genuinely go clean.
 
  • #29


chiro said:
Personally I'm not dissappointed with anyone politician, banker, or tycoon of any kind: I'm dissappointed in us collectively as a species.
I'm still in the process of reading and considering your rather long post. Anyway, I think you sort of hit the nail on the head with the quoted statement. The problem isn't bankers, or speculators, or politicians, or whatever. The problem is me. The problem is ... us.

Nevertheless, we can still reasonably expect that potentially harmful practices by the financial industry be legislated against. That is structured out, ie., prohibited by law and woefully punished.

Is this likely to happen? Imho, not as long as predominantly major party candidates are in office. Which, effectively, means that, wrt reasonable expectation, it will never happen.

So, bottom line imho, the financial sector is exerting an inordinately negative influence on the American economy, and there's nothing that anybody can or will do about it (because the people that can do something about it are benefitting enormously from the status quo). Just my opinion.
 
  • #30


ThomasT said:
I'm still in the process of reading and considering your rather long post. Anyway, I think you sort of hit the nail on the head with the quoted statement. The problem isn't bankers, or speculators, or politicians, or whatever. The problem is me. The problem is ... us.

Nevertheless, we can still reasonably expect that potentially harmful practices by the financial industry be legislated against. That is structured out, ie., prohibited by law and woefully punished.

Is this likely to happen? Imho, not as long as predominantly major party candidates are in office. Which, effectively, means that, wrt reasonable expectation, it will never happen.

So, bottom line imho, the financial sector is exerting an inordinately negative influence on the American economy, and there's nothing that anybody can or will do about it (because the people that can do something about it are benefitting enormously from the status quo). Just my opinion.


I do support regulation and the idea of it especially in industries that have a huge interdependency with how society functions and the biggest one of these is the financial system and any kind of area that deals with allocating resources and to provide any form of medium of exchange that streamlines this process.

However even with this said, it is important for us individually and collectively to set the precedent for our social order that we wish to have, and unfortunately the people that have been given the privilege of money and debt and have abused it dramatically.

Social collapse and deterioration ends up doing very very few people good and this includes a lot of business interests and wealthy people as well.

It is a lot better for society to function in an organized fashion where things work together in a harmonius way rather than for things to go hell. When things to go hell, then they really go hell and given how we 'depend' on many things working together in some kind of harmonius way whether its for our food to be shipped to the supermarket, or whether it is for our internet connection to work in a complex telecommunications network, the idea doesn't change.

The biggest thing IMO that people can do to the financial companies is to send a message with your wallet: if you don't like how the big banks do business then don't do business with them. Take your money out. If you are a merchant banker, find someone else to handle your transactions and accounts. If you are just a normal saver, then do the same. Go to your local credit union and encourage a move away from the oligopoly that we have.

People may not have the power to issue currency, or the power to enact new legislation, but at the moment they have something even more powerful and that is money. People vote with their money everyday, and for businesses, this is the bottom line. If you send a message that they can't ignore they will have to respond in some way, whether it's a nice PR statement, or whether its through some actual change.

If you want to stop speculators, then do what you can in your life first to discourage speculation. Get yourself out of debt and set a precedent that debt should not be easy to get like a two dollar hooker is. If society sets a high enough precedent and saves a lot, then interest rates will rise and the effect will be what is expected.

If you want to stop the oligpolistic markets and economies, then diversify where you spend your money or find products that you support and buy those. Support competition through your money. There are anti-trust laws and good regulations for a reason, but it doesn't hurt to send a message yourself as well.
 

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