The devil can cite Scripture for his purpose. -Shakespeare
And where does the devil lead us? To progress as contemporary ideology of moving forward stands for, to the hyped development- of which a fool makes nothing more than concrete, glass and weak steel structures and so do the wise know. The devil promises more and does give more than just roads and shelter. Napoleon- the pig at the Manor farm did too (Animal farm). But he spent more on his wine than all the rest of animals had for food- Kleptocratic ornamentation. Indoctrination of even the most vague and deplorable an idea diminishes the scope of understanding freedom and equality. Such is the system of education that we are fed with. To serve the system that serves those in power. Current prejudice feeds on Capitalistic ideology that supports the liberal democratic governments, where capitalists and leaders have all liberties to themselves. Rest can vote. A vote a person- equality. As Howard Zinn put it- ‘You cannot be stable on a moving train’. So cowardice in humans bleats ‘nothing is wrong, there is no train doomed to hell’. And takes in its diminishing share of fodder.
Weaponry is the highest paying craft. And one with no end as Bertrand Russell notes it that a wwar economy is the best way to keep a country busy, increase manufacturing and GDP. Students please note everytime you break a bench or a lamp in school you are increasing demand for newer ones and henceforth the GDP. The total world expenditure is less than the defence expenditure of America, Russia, China, France, UK,Germany, Sweden and Ukraine which was $1.3 trillion in 2012, sharing the number with the fiscal deficit of US alone $1,300,000,000,000. But they can print it eventually taking the inflation rate to a few percent up but the income of common people would remain the same with a million or more losing their jobs. Statistics vary in number though from one modern economy to another. The magnitude does, but the direction-same – that of deficits. But you cant take the credit of printing currency away from your governments. They do make it ‘look’ fine. I somehow get a flashback from a movie- Taxi Driver (1976), the infamous make up cuddle.
Now, modern economy is all about buying packaged food & branded clothes by trying to earn as much (and in the ways politicians through enacted laws allow). And only after you pay your taxes and interest. And that only when we spare the growing gap between income and inflation due to government deficits. And ofcourse forgive these blunders to be called a good citizen. Although you still might not get a pair of jeans and bread if the inevitable recession strikes.
Now coming to the financial wave function, it is as it looks like on the graph – rightly suspicious. It prefers probability to concrete facts everyday and tags values on mere speculation. And then the sub-prime mortgage crisis. While Goldman Sachs and Morgan Stanley went unaccountable with peoples lost money, ‘We the people’ have turned against each other to work for such Kleptocratic institutions. Even the American Federal Reserve is one such intelligent private entity (Please note the sarcasm). No,not that it is not private but it is headed by the dumbest intellectuals ever. Investment banks have bet over loses of their own securities and it is all legal and named- in this case as ‘derivatives’ showing off with logical absurdity. But the people who buy these Sub-prime securitires have no portion in derivative contracts, this is not insurance,they are sold a ‘Standards & Poors high rating’ for the same securities and assets. And with weather derivatives you would need more than a holy scripture, forget laws and rationality doing it for you.
So what is a fine Economic system? So far, none has ever worked. For now, my advice would be to refrain from such as Financial pseudo-knowledge careers until men stronger, more able and inspired than us create a good economic system to be followed. Keynes’ ‘the pump and float the weak boat’ Economics has failed. We need a new titanic and I hope to see a great Economic titan rise from my Kashmir. But what least is required for now is to understand how our sweat is devalued everyday.Technology has amazed us to a degree where faculty of understanding and justice has bled cheaply, and we do not feel it anymore. Legislators unfortunately are neither aware nor capable of getting rid of the dogmatic sytem of bashed truth, they being products and victims of indoctrination themselves.