Surviving Capitalism (Not) : Hyperdeflation, followed by rampant inflation

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Thursday, March 18, 2010

Hyperdeflation, followed by rampant inflation

from Billy Blog. This article provides a good analysis of the issue of deficit government budgets and the way media has flamed the issue to serve the interests of the governing classes.

A more realistic interpretation is that the power elites fear that their party is over if governments return to supporting higher levels of employment and more equitable transfers of national income including a sensible (and necessary) realignment of real wages and productivity growth. They also fear that a new regulative environment might force them to work a bit harder for their living and stay within the law more often. This elite controls much of media and has its lobbying tentacles right into all major governments. They are not shy to spend big money bribing officials and cheating the “markets” – which they hold up as the pure form of freedom and entrepreneurship.