RE: Who will swallow the Corona virus debt? The rich or the poor?
November 24, 2020 at 11:05 am
(This post was last modified: November 24, 2020 at 11:10 am by The Grand Nudger.)
Debt is a real thing....and normative statements about whether or not it should exist can't touch that. It's probably more accurate to say that debt was invented by the poor so that they might become rich (if we're forgiving the use of those terms). I need your horses to plow my fields...but since I have yet to plow my fields I have nothing to pay for that unit of labor. I take on debt, you take on risk, we both seek to profit and in 90 days or so we'll see how it all pans out. It's that hope, right there, that people inevitably come up with ways to exploit.
With respect to wealth and poverty and debt, corporations aren't the problem - it's the ways in which they can manipulate those variables that are not available to people. So, taking the example above...
As a person, if I borrow a tractor from john, and I fail to pay...they'll take back the tractor but I'll still owe the debt. That's trash.
As a corporation, if I borrow a tractor from john, and a fail to pay..I can shift that real asset to a new entity, load that entities debt onto the existing failed entity, and nope right the fuck out.
Now, I know, I know, somebody might say -yeah, but eventually people wil stop doing business with a corproate entity that acts like that. No, they won't....because that entity has money, and more money, all the time. Vulture capitalism works.
Of course, in a system like that, one group (and their controlling interests) will accrue endless wealth while the other remains in stasis forever going up and down. The only recourse for that group is to tax the other. Failing that, to literally steal their shit - which is how we lived for about 47k of our 50k years.
With respect to wealth and poverty and debt, corporations aren't the problem - it's the ways in which they can manipulate those variables that are not available to people. So, taking the example above...
As a person, if I borrow a tractor from john, and I fail to pay...they'll take back the tractor but I'll still owe the debt. That's trash.
As a corporation, if I borrow a tractor from john, and a fail to pay..I can shift that real asset to a new entity, load that entities debt onto the existing failed entity, and nope right the fuck out.
Now, I know, I know, somebody might say -yeah, but eventually people wil stop doing business with a corproate entity that acts like that. No, they won't....because that entity has money, and more money, all the time. Vulture capitalism works.
Of course, in a system like that, one group (and their controlling interests) will accrue endless wealth while the other remains in stasis forever going up and down. The only recourse for that group is to tax the other. Failing that, to literally steal their shit - which is how we lived for about 47k of our 50k years.
I am the Infantry. I am my country’s strength in war, her deterrent in peace. I am the heart of the fight… wherever, whenever. I carry America’s faith and honor against her enemies. I am the Queen of Battle. I am what my country expects me to be, the best trained Soldier in the world. In the race for victory, I am swift, determined, and courageous, armed with a fierce will to win. Never will I fail my country’s trust. Always I fight on…through the foe, to the objective, to triumph overall. If necessary, I will fight to my death. By my steadfast courage, I have won more than 200 years of freedom. I yield not to weakness, to hunger, to cowardice, to fatigue, to superior odds, For I am mentally tough, physically strong, and morally straight. I forsake not, my country, my mission, my comrades, my sacred duty. I am relentless. I am always there, now and forever. I AM THE INFANTRY! FOLLOW ME!
