What is Credit? 2 of 2
Now, more than ever, there is an imperative need for people to understand the nature of credit in a capitalist society. In a time when we are seeing the high seas of finance increasingly rocked by rolling crisis and systemic instability, from Enron to the sub-prime mortgage debacle to the dot.com bubble to the asian financial crisis- in such a time it is imperative that average citizens develop a useful critique of the way credit functions in the global economy.
full text at:
http://kapitalism101.wordpress.com/what-is-credit/
Duration : 0:7:11
February, 25th 2010 at 10:21 pm
And ye, a bank …
And ye, a bank since it is a fiction can not create any value therefore it can not loan any, it (actually the people behind the legal mask) can however steal value. Banks/Corporations/The State do that on a daily basis.
February, 25th 2010 at 10:21 pm
e.g. When someone …
e.g. When someone takes out a loan/mortgage to buy a house and then works (produces value/gives his/her time) but only manages to pay-off 50% of the loan and the bank comes in and confiscates the house, it is actually stealing all that labor(time/life energy) from the living breathing man since it (the bank) did not actually loan anything of value, and technically it was not even a loan. So house foreclosures by banks (the State) = theft.
February, 25th 2010 at 10:21 pm
Is there a movement …
Is there a movement to change this?
February, 25th 2010 at 10:21 pm
the FEd is …
the FEd is privately owned but the head of the FED is appointed by the government and it works with the government on creating monetary policy. It is basically a collective agent of the banking faction of the capitalist class. In this way it is sort of like a mini-state unto-itself.
February, 25th 2010 at 10:21 pm
I’ve heard Russo …
I’ve heard Russo and Alex Jones say that the FED is a private bank. What’s your take on this? Is it true?
I’m not an American, by the way.
February, 25th 2010 at 10:21 pm
You don’t need a …
You don’t need a degree to understand the world. I know people who have completed majors in economics without being able to form a detailed analysis about the global economy.
February, 25th 2010 at 10:21 pm
So true. You can …
So true. You can study aspects of Marxist political economy in most Universities, but never the whole thing. Most business faculties have gone shifted so far right-wing that even Keynesian thinking is considered ‘leftist’.
February, 25th 2010 at 10:21 pm
yes.
yes.
February, 25th 2010 at 10:21 pm
Productive …
Productive capitalist are the businesses and the Money capitialist are the banks, right?
February, 25th 2010 at 10:21 pm
I’m still watching …
I’m still watching your videos, I think they are very good, and the fog is clearing (a little) on economic matters, I’d like to recommend to you two youtube sites one is Beingism(if you check My playlists I have them all on one playlist) and the other is Dr. John Breeding on psychetruth channel, An activist for psychiatric rights, I myself am a member of mindfreedom international so I’ll give a little plug for them too, Thanks, hope I’m not getting too annoying!
February, 25th 2010 at 10:21 pm
I think that we …
I think that we need a layer of people in-between academia and lay audiences- a strata of thinkers who seek to translate these ideas into accessible forms. I hope that my videos can help serve this purpose to some modest extent.
Making a radical political theory a living, collective project is something that the structure of academia excludes. But I think that having an active strata of people working in theory at this “street-level” could have a positive effect on the academy.
February, 25th 2010 at 10:21 pm
This leads me to a …
This leads me to a question I have been thinking about for awhile. Although it is not impossible to educate oneself in economics outside academia, do you think it is difficult to do so?
Imagine doing 50+ hours of work and still having to go home and write papers on economics?
I work part time in a grocery store and I am doing my masters studies in history. I really do not have time to study political economy in the same depth as a professional economist.
What is your take on this?
February, 25th 2010 at 10:21 pm
looks to me that, …
looks to me that, those great and the good highly educated economists, didn’t learn anything or we wouldn’t be in the crap now ! with all those people losing their homes and jobs. makes me think i could run it better.
I only have to worry about providing for my kids food and working for their own flawed education. ( Thats a micro economy in its self )
February, 25th 2010 at 10:21 pm
oh- ok. nevermind.
oh- ok. nevermind.
February, 25th 2010 at 10:21 pm
Brendan.
I think …
Brendan.
I think you completely misunderstand that I just wrote. The reply was not directed at you, but at the person that asked where David Harvey got his information from.
I think you are reading too far into what I posted. I never said that a person can not make videos or educate oneself outside academia, I just made a suggestion that it could be a good idea to look into studying at economics at university.
February, 25th 2010 at 10:21 pm
I actually did …
I actually did study Marx as an undergrad- but…are you saying one can’t read books or make vids on economics w/o an academic background? Do you think it’s impossible to educate oneself on political economy outside of academia? And where would you suggest one goes to study radical pol-econ? Are you aware that almost no departments in the US offer degrees in marxist economic theory? And who said anything about wanting to be like Harvey?
February, 25th 2010 at 10:21 pm
David Harvey iis an …
David Harvey iis an academic economic geographer and a professor; so he would have acquired most of his knowledge through his academic profession. Harvey would have read various academic books, attended lectures, attended academic conferences on political economy and developed contacts with other academic political economists.
If you want to be like Harvey, you should start by getting an undergraduate degree in political economy.
February, 25th 2010 at 10:21 pm
I actually learn …
I actually learn something from watching these videos. I have a vague idea beforehand but this and other videos by the author clear up any ambiguity
February, 25th 2010 at 10:21 pm
fine addition to my …
fine addition to my economic playlist,
February, 25th 2010 at 10:21 pm
Karl Marx?
Karl Marx?
February, 25th 2010 at 10:21 pm
“He that read’s …
“He that read’s shall know” Shakespear i think.
But who did David Harvey read, how did he know. Thats the question i would ask, in the pub. Dont worry i don’t expect an answer as its a big subject. whos truth is true.
February, 25th 2010 at 10:21 pm
I read a lot of …
I read a lot of books, especially David Harvey.
February, 25th 2010 at 10:21 pm
dude your so clever …
dude your so clever how did you learn all this stuff..?
February, 25th 2010 at 10:21 pm
bravo
bravo
February, 25th 2010 at 10:21 pm
VERY GOOD JOB I …
VERY GOOD JOB I LOVE IT!