[sydney3000]

"After World War II many women stayed home and raised families. But since the 1950s they have been forced increasingly into the labour force for what are called two-job families – and now, three-job families (with only two family members). If you project labor participation rates, by the year 2020 every woman will have to work 18 hours a day or economic trends will falter."

"The problem is that income used to pay debts cannot simultaneously be used to buy the goods and services that labor produces. So when wages and living standards do not rise, how are producers to sell – unless they find new markets abroad? The gains have been siphoned off by finance. And the financial dynamic ends up in austerity."

"And to make matters worse, it is not the fat that is cut. The fat is the financial sector. What is cut is the bone: the industrial sector. So when writers refer to a post-industrial economy led by the banks, they imply deindustrialization. And for you it means unemployment and lower wages."

http://michael-hudso...st-and-poverty/

This post has been edited by sydney3000: 25 April 2012 - 10:29 AM

[wulfgar]

Quote

"The problem is that income used to pay debts cannot simultaneously be used to buy the goods and services that labor produces. So when wages and living standards do not rise, how are producers to sell – unless they find new markets abroad? The gains have been siphoned off by finance. And the financial dynamic ends up in austerity."

Of course all the gains are siphoned by finance. The massive finance industry (at least 8% of the GDP) is there to may sure the rich get richer at the expense of somebody else. What do you think they are, the public service and sharpen pencils all day.

25 years ago a block of land was 2 years basic wage, today it is 6 years basic wage.......that how they clean up. Today 3x as much serf labor is required to purchase a finished block. That's the improvement in productivity!

Basically the Serfs are suckers!

[Solomon]

wulfgar, on 27 April 2012 - 12:20 AM, said:

Of course all the gains are siphoned by finance. The massive finance industry (at least 8% of the GDP) is there to may sure the rich get richer at the expense of somebody else. What do you think they are, the public service and sharpen pencils all day.

25 years ago a block of land was 2 years basic wage, today it is 6 years basic wage.......that how they clean up. Today 3x as much serf labor is required to purchase a finished block. That's the improvement in productivity!

Basically the Serfs are suckers!

So what do we Serfs do about it?

A part of me, actually wants the world economy to collapse, just to teach the financiers a lesson.
The trouble is (from what I can observe) is that they won't probably be too adversely effected, and the Serfs will wear the cost of it anyhow.
I'm seeing the rich getting richer from this crisis, and the poor getting poorer.
This is the dilemma that I'm confronted with in this whole financial enslavement paradigm.
We have no way out.
They have effectively now closed all the exits, and their own men are stationed at every door.

[sydney3000]

I can barely muster some blame for the financiers. The serfs are stupid. They can't control their urges.