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Volatility Blog Taking Tock – Gambling and the Economy Casino Royale

05 Aug

Volatility tends to drive deeper and focus deeper than most can follow, but we still enjoy them, however their perspectives may tilt.

Here we take a look at the real world life reality of the whole concept of cash and money as king vs what is real in the world today – nice work.

Taking Stock

Russ @ 6:49 pm

>If anything, the stock market is even more fictive as an issue than the federal debt. And a stock market crash ought to have no more significance for real people and their real work than deficits and debt ceilings.

To be clear, gambling with stocks (everything that happens on “the market”) has nothing to do with investment even in principle. The capital was already raised with the initial offering. From then on the stock is just batted about unproductively by a bunch of scammers trying to get something for nothing. A lot of foolish ones lost a lot of paper money yesterday. (I’m sure the banksters will do just fine.)
If, as capitalist propaganda would have it, stocks are supposed to be productive investments in the real economy, then the stock market shouldn’t exist at all. So there’s my remedy. The big bucket law I’ve proposed so many times, to outlaw (in the sense of declaring the “contracts” unenforceable) all sorts of gambling, would encompass the stock market itself.
(Even better would be to simply get the government out of contract enforcement period. Which would mean getting rid of centralized government as such.)
Unfortunately, the finance sector has used the government to impose a parasitic tyranny on the core economy. That means that bizarre reifications like stocks and deficit ceilings become real forces wreaking havoc on real people and real work. As we continue our descent into a Depression far worse than that of the 1930s, we’re passing the same milestones of mass unemployment and wastage of labor goodwill, which is really the wasting of lives, alongside bountiful production which is promptly thrown worthlessly down ratholes, and even more production potential which simply goes to waste.
This waste, which is the result of nothing but intentional policy on the part of criminal elites, is just as profoundly destructive as the murder of physical bodies. This is the murder of souls.
Is there any way out of the trap? It’ll have to include breaking free of the command cash economy of the financializers. Those who will be capable of taking in hand the stagnant potential and rendering it kinetic, in order to meet the needs of those in material peril, at the same time they uplift these needy masses and turn them into kinetic producers for themselves, and who will do all this without resort to cash, taking it for granted that there’s no need for it – who will they be? Is it possible that the time banks which are sprouting up everywhere can function as training programs for such cash-transcending cadres? And could the time banks themselves function as such revolutionary nuclei?
That’s a lot to ask of something starting out so modestly. But then, vision must see as far as the circumstances of the day compel it. Today we must look to everything with only one question – what role can this play toward our liberation and transformation?
 

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