376 karma · joined December 29, 2012
More jwz wisdom - http://www.jwz.org/blog/2011/11/watch-a-vc-use-my-name-to-sell-a-con
Also good - http://monthlyreview.org/2008/12/01/financial-implosion-and-stagnation
"Profits"
Marx and Engels wrote that the world has seen five economic systems. Each system collapsed due to internal contradictions. The first system was hunting-gathering, then Babylonian/Greek/etc. style slavery, then feudalism, and then capitalism. They saw the Paris Commune as the harbinger for the next economic system which would replace capitalism.
The central contradiction in capitalism Marx spells out clearly in Capital, although its a little too much to explain in a comment. Basically workers create $240 of wealth every eight hour work day, but are only paid $200 a day. The $40 goes to profit, to get more capital, to make more commodities. But what is happening here - the worker is shorted $40 a day, and what happens with that money is commodities are made. Who are going to buy all these commodities when workers are not getting all the wealth they create? Well credit fixes that in the short term but creates a bigger long term problem.
The communist manifesto says "the commercial crises that by their periodic return put the existence of the entire bourgeois society on trial, each time more threateningly". I certainly feel this way. So apparently does Stratfor. On this point, the left and right are in agreement.
The secret group has a lock on its tab and says "Secret Group - Only members see the group, who's in it, and what members post". No one who I am friends with knows I'm in the group aside from people in the group. Not sure what more to say - it has a wall which is somewhat active, although content was better and more diverse when the group started, now it is mostly 1-2 boring friend-of-friend chatterboxes. It also had a chat room, although Facebook killed group chat rooms a few months ago.