“Why is it okay for the Fed to create $1.5 trillion to buy stocks to prevent rich people from losing on their stocks, when it’s not okay to print only $1 trillion to pay for free Medicare for the entire population?
Coral Hairstreak (Satyrium titus)
Madison, Dane County, Wisconsin, USA
7/4/2011 IMG_3176aaa 2011 Good AAAA
“Privilege:
Literally a “private law,” granting ownership or rights to charge economic rent as an access fee to users of natural monopolies otherwise in the public domain (land, water and natural resources), infrastructure (railroads, roads, communications and other public utilities) or artificial trade monopolies. Such rentier privileges are obtained by insider dealings, as spoils of war or by financial leverage and foreclosure. (See Property.) Classes living off such privileges include landlords, bankers and monopolists (mainly the financial class).”
“Privatization:
The word “private” derives from Latin privatus, meaning restricted, as in privilege, and privare, “to deprive” and indeed, “to rob,” as in prevaricate. Starting with the enclosure of the commons –the fencing in of communal grazing land and forests in Britain –the enclosures of the 16th through 18th centuries deprived peasants of their land rights and means of subsistence, driving them into the cities as “loom-fodder” for textile mills and workhouses. (For the Soviet Union’s post-1991 carve-up, see Grabitization and Kleptocracy.) Since 1980 the main lever of privatization has been financial. Debt-strapped governments are forced to sell off the public domain as a conditionality imposed by the IMF in exchange for credit to avoid defaulting on bank debts or foreign debts. (See Washington Consensus.) The prime assets being privatized are natural monopolies able to extract economic rent by raising prices for hitherto public services. These rents tend to be paid out as tax-deductible interest to affiliates in offshore banking centers in order to deprive host economies of a public return on their land and natural resource patrimony or their immense capital investment in infrastructure –much of which was financed by foreign debts for which governments remain liable. Such privatization de-socializes public infrastructure, usually by rent extractors in partnership with government insiders. Access charges may be raised as high as users (“ the market”) will pay. Junk economics pretends that this will be more efficient than public investment to provide basic services at low prices. The reality is that countries that fail to invest in minimizing the cost of basic services (by avoiding tollbooths for financialized rent extraction) have a higher cost of living and doing business, making them less competitive in global markets.
“Why is it okay for the Fed to create $1.5 trillion to buy stocks to prevent rich people from losing on their stocks, when it’s not okay to print only $1 trillion to pay for free Medicare for the entire population?”
Hudson, Michael. J IS FOR JUNK ECONOMICS: A Guide To Reality In An Age Of Deception”
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Inflation Reduction Fossil Fuel Gifts Act Vsn 2.0 California:
Democrats pump out the death, destruction, extinction, and the killing of children by attacking earth at the state level with California lavishing giveaways on Big Oil.
And yes, firmly putting the onus for dealing with the consequences of more deadly wealth concentration by oil firmly on the backs of the working class and other industries.
Quote:
"[the plan]…offers massive giveaways to Big Oil, using carbon capture to keep refineries online and increasing pollution through the expansion of dirty hydrogen."
Carbon Capture doesn’t work. It’s fake. Which begs the question, what are they going to do with the money? Stock buybacks and executive salaries most likely, however, I would hazard a guess that is not as important as the face that it will admittedly “…keep refineries online…” It’s the “…online…” part that is probably the honey$$$ pot. If a facility of Big Oil is not online but ‘…idle…. it has to clean up all its toxins. Pushing this clean up off is one step closer to inevitably making it the Municipalities’ financial responsible to clean up. And in the meantime, you poison the nonrich.
Gavin Newsome had this to say: “"we are making history here in California,” but what he forgot to add was ‘…with massive giveaways to the fossil fuel industry in order to fight climate change.’ In other news, Newsome announced California regulator’s new plan to promote rampant copulation as part of a new initiative to promote virginity.
“California Approves Blueprint to Become Carbon Neutral by 2045” [by promoting fossil fuels]
“One expert praised parts of the plan but noted it "offers massive giveaways to Big Oil, using carbon capture to keep refineries online and increasing pollution through the expansion of dirty hydrogen."
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“Insects = Bird Food
This is why we need a lot of insects.
Birds around the world eat 400 to 500 million metric tons of beetles, flies, ants, moths, aphids, grasshoppers, crickets and other arthropods per year.”
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AMOC collapsing:
Atlantic meridional overturning circulation (AMOC)
“Abrupt global ocean circulation collapse. Time to start prepping?”
“the AMOC system has been weakening for decades and it is likely to grind to a halt at some point in the not too distant future, with profound effects on our planetary systems”
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“Here Are The Scary Reasons Why We Need To Stop Ignoring The Climate Crisis”
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“This lays out what is required for basic human survival. It is not easy. It will require systemic economic restructuring across the planet. It is the collective choice of our species, not the choice of the plutocrats and their pet politicians around the world.
In every developed nation, and most others as well, we are allowing the monied elite, of which Joe Manchin [coal baron] is a prime example, to satisfy their innate criminal greed by selling our planet out from under us. This is done for their luxury and our convenience. Unless we take action to change this situation dramatically, and very very soon, we are doomed.”
“What Would It Look Like If We Treated Climate Change as an Actual Emergency?”
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