The Company Store, Debt and Serfdom

[Donnachaidh]

http://www.oftwominds.com/blogoct08/serfdom10-08.html

:snip:

I am now thinking there's another analog to our entire economy: the company store.


:snip:

Most astonishingly, the Ministry has succeeded in diverting the nation's attention from the Company store/debt-serf realities to a bogus "debate" over "socialism" and "capitalism." As Michael Hudson has pointed out, the rentier class which owns the mortgages, loans and credit card debt is not capitalist at all; it is essentially medieval in structure. It takes no risks, creates no innovations, invests no capital in new enterprises or indeed, performs any classical capitalist functions at all.

:snip:

As one last example of the pernicious genius of the company store/debt-serf model, consider the bogus "elite status" offered to those with enough income to funnel through the system to make the owners even more money. Banks make money off the velocity of money, and the more you funnel through your checking account, the more money they can make off you. So if you have a large income and spend virtually all of it, they love you, they love you, they love you, and to express their gratitude for your servitude they award you various "elite" status gimmicks which are parodies of true elites.


VERY interesting article -- still applies NOW, too.

[havocmom]

1. Gerry Spence wrote "From Freedom To Slavery: The Rebirth of Tyranny in America"

several years ago. It was a revelation to me to get validation for my observations/fears, as I had been dismissed for over 20 years.

It's a damned good read. I may need to pull it off the shelf again and see just how prescient Mr. Spence was.

[ananda]

2. Yes, the entire language and vocabulary around the economy..

.. must change completely before anything
good can be done.

All the pretense and doublespeak must go,
and the memes of elitism and rugged
individualism have to be destroyed and
replaced with ones of total equality,
humanity, sharing, and gifting.

[undergroundpanther]

3. sharing and gifting

scares the shit out of the rich parasites.because WE DON'T NEED THEM or their 'system' to live.
And it makes us realize we can really make it with the help of each other standing side by side for each other's well being by giving some and taking some, we all have enough..