Rise Up to a New Economy

"To rise from error to truth is rare and beautiful" ~ Victor Hugo

Summer 2009: The US government defaults on its debt Leap2020
The sudden shock that will result from the US defaulting in summer 2009 is partly due to this decoupling of decision-making processes of the world’s largest economies with regard to the US. It is predictable and can be dampened if global players start to anticipate it. As a matter of fact, it is one of the topics developed in this 28th edition of the GEAB: LEAP/E2020 hopes that the September shock has “educated” the world’s political, economic and financial policy-makers and made them understand that it is easier to act by anticipation than in a panic. It would be a pity if Euroland, Asia and oil-producing countries, as well as US citizens of course, discover one morning of summer 2009 that, after a long-week-end or bank-holiday in the US, their US T-Bonds and Dollars are only worth 10 percent of their value because a new Dollar has just been imposed.

Retiring hedge fund manager: Idiots made me rich Raw Story
"Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country," he wrote, "at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt...My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man’s interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft’s near monopoly. I believe there is an answer, but for now the system is clearly broken."

This is the world we live in
And these are the names we're given
Stand up and let's start showing
Just where our lives are going to...

System Failure and the Need for Revolution RINF
The analysis that follows is framed by these core points:

1. There is an essential relationship between the vast enlargement of the financial sector in the U.S., and the general phenomenon of financialization, and the deepening globalization of capitalist production of the last 15 years. And central to this dynamic has been the relationship between U.S. imperialism and China.

2. Through the course of this growth and expansion, severe imbalances have built up between the financial system—and its expectation of future profits—and the accumulation of capital, that is, the structures and actual production and reinvestment of profit based on the exploitation of wage-labor.

3. A “dirty little secret” of this crisis is the enormous weight of militarization of the U.S. economy.

4. This crisis is a concentrated expression of the anarchy of capitalist production—the fact that production is not carried out according to any conscious, rational plan at the society-wide level, much less at the international level.

It's time to head back towards innovation and production,
this money flipping resource dependent service economy is dying.