"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -- John Maynard Keynes "Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth." -- John Maynard Keynes
Maybe I’m just ignorant, but she starts off claiming a resurgence of “austerity” and then starts listing things that are not really austerity measures. Am I wrong? Isn’t austerity supposed to be reduction of government debt? The basic austerity measures are supposed to be spending cuts. I’ve always found the term abusive to its English meaning, and quite deliberately so. Real austerity by modern government would not include tax increases. Austerity is reduction in luxury, and most government expenditures today are little except luxuries of one kind or another.
The way I see it is that they (those with the wealth and power to dictate such things) tell us (We the People) that austerity is all about keeping spending well within our means, but in reality it's about wealth redistribution, and asset stripping, where the wealth and assets go to those with enough wealth and power to dictate such things.
@@bundleofperceptions1397 Seems about where we are these days. But hey, we get bread and circuses! They inflated my retirement savings away, but at least I can be distracted by them indicting Trump.
Reduction of government debt is too narrow a definition of austerity, or maybe just too technical a way of defining it. Austerity is the impoverishment of the working class to the benefit of capital owners. That could be through reduction of government spending, but the government literally has the power to throw the economy into a recession and reduce wages and increase unemployment. That's what the Fed is doing right now with its monetary policy, breaking the back of inflation by impoverishing the working class even further. Meanwhile, the government continues to spend billions on the war in Ukraine and on industrial policy for the semiconductor and electric vehicle industries. Spending cuts are selective and targeted at the working class. No Republican ever proposes cutting the military budget. It's the working class that must be disciplined, not the government. In other words, austerity is more than just balancing the budget, it is class war against the working class for the advantage of the capital owning class.
Fascinating analytical lens. Brilliant analysis of facts giving us genuine understanding. Thank you.
Molte, grazie!!
"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -- John Maynard Keynes
"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth." -- John Maynard Keynes
Chase acquired JP Morgan in 2000 for $30 billion. They were separate entities before then. Today the bank is known as JP Morgan Chase.
Was this good or bad or indifferent for how they function or dont function at present? My apology in advance... I am an extreme novice ...
The rich get (or stay) richer,...
I'm interested in the topic but this video went ten minutes without ever getting to any point.
Maybe I’m just ignorant, but she starts off claiming a resurgence of “austerity” and then starts listing things that are not really austerity measures. Am I wrong? Isn’t austerity supposed to be reduction of government debt? The basic austerity measures are supposed to be spending cuts.
I’ve always found the term abusive to its English meaning, and quite deliberately so. Real austerity by modern government would not include tax increases. Austerity is reduction in luxury, and most government expenditures today are little except luxuries of one kind or another.
The way I see it is that they (those with the wealth and power to dictate such things) tell us (We the People) that austerity is all about keeping spending well within our means, but in reality it's about wealth redistribution, and asset stripping, where the wealth and assets go to those with enough wealth and power to dictate such things.
@@bundleofperceptions1397 Seems about where we are these days. But hey, we get bread and circuses! They inflated my retirement savings away, but at least I can be distracted by them indicting Trump.
...and a phone that cooks your breakfast ☝️😐
- George Carlin
Reduction of government debt is too narrow a definition of austerity, or maybe just too technical a way of defining it. Austerity is the impoverishment of the working class to the benefit of capital owners. That could be through reduction of government spending, but the government literally has the power to throw the economy into a recession and reduce wages and increase unemployment. That's what the Fed is doing right now with its monetary policy, breaking the back of inflation by impoverishing the working class even further. Meanwhile, the government continues to spend billions on the war in Ukraine and on industrial policy for the semiconductor and electric vehicle industries. Spending cuts are selective and targeted at the working class. No Republican ever proposes cutting the military budget. It's the working class that must be disciplined, not the government. In other words, austerity is more than just balancing the budget, it is class war against the working class for the advantage of the capital owning class.
@@jason8434 That’s a political viewpoint, and a rather extreme one. Politicians love to pretend they care about economics, but they rarely ever do.
បាទអែនខ្ញុំបាទសូមថ្លែអំណរនឹងអគុណរលេាកនឹងលេាកនឹងលេាកមានប្រសាសន៍អែននាងខ្ញុំបាទសូមក្ដីរីករាយលេាកនឹងលេាកជាខ្លាំងអែននាងខ្ញុំបាទសូមកដីគេារពនឹងក្ដីស្រឡាញ់❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😊😊😊😊😊😊😊❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
I was promised fascism. Where’s my fascism??
បាទលេាកនឹងលេាកនេះជាសៀវភៅប្រវត្តិសាស្ត្របាទលេាកនឹងលេាកទាំងអស់អែនខ្ញុំបាទសូមក្ដីគេារពនឹងស្រឡាញ់❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😅😊😊😊😊😊😊😊😊😊😊❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤ប្រជាពលរដ្ថនឹងប្រទេសលេាក❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😅😊😊😊😊😊😊😊😊❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤អែននាងខ្ញុំបាទសូមក្ដីរីករាយលេាក ឹងលេាក❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
បាទអែនយ៉េននាងខ្ញុំសូមអគុណរលេាកនឹងលេាក❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😊😊😊😊😊😊😊😊😊😊😊❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
បាទជាសៀវភៅសំរាប់អានជីវិតប្រវត្តិសាស្ត្រ❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤😂😂😂😂😂😂😂😂😂😂😂😂😅😅😅😅😅😅😅😅😅😊😊😊😊😊😊😊😊😊😊❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤លេាកនឹងលេាក❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤