imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Caught in the Infinite Loop of a Nightmare

by Gerd Neumann Friday, Feb. 26, 2010 at 2:27 PM
mbatko@yahoo.com

Since politics has no strategies of its own to re-stabilize the economic system, it hopes in the self-healing powers of the market after the bank bailout... The hosts of decision-makers were simply "falsely programmed" in their education.

CAUGHT IN THE INFINITE LOOP OF A NIGHTMARE

The Economic- and Financial Crisis

By Gerd Neumann

{This article published in: Welt Online, January 25, 2010 is translated from the German on the Internet, http://www.welt.de. Gerd Neumann is managing director of the European Office of the Institute for Structural Economics and author of the book “Job’s Good News: The End of Illusion is the Beginning of the Future” (Hiobs gute Botschaft: Das Ende der Illusion ist der Anfang der Zukunft).]

The threatening consequences of the financial crisis exceed our powers of imagination. The defensive reactions to Barack Obama’s plan to put banks on a leash arise from forces bringing disaster. We are caught in the infinite loop of a nightmare in which the causes of the crisis are continuously reproduced.


Greed, moral degeneracy and criminal energy were undeniably joint causal factors of the crisis. These factors are certainly not sufficient to explain the whole extent of the crisis. The alarm of people can almost be felt and has largely destroyed trust in the capability of action of decision-makers from politics and the economy.


Intuitively society senses something much more dangerous than the crisis lurks in secret. This intuition is right! The vehement reactions to Barack Obama’s plan to put the banks on a leash arise from baneful forces in which the real causes of the crisis are continuously reproduced.


Within the political and economic structures, people do not really know how to deal with the crisis. Decision-makers labor on shaking off the symptoms and rely on the principle of hope. They expect the economy will recover so people can “sit out” the crisis. The strategy of sitting out will ultimately lead to catastrophe when one rationally follows the facts and connections.

THE LONG WAY OF THE CRISIS


In principle, all the factors that led to the crisis are well-known and can be simply outlined with several cogent points. The crisis began seemingly harmlessly in 1971 when the gold-backing of the American dollar was abandoned. As a result, a systematic expansion of the money supply led to an enormous expansion of the financial industry.


Parallel to this, economists developed theories and economic models that concentrated almost exclusively on the financial markets. Through the media, the expanding financial markets moved into the center of social perception and other economic events were faded out.


This selective way of looking at things had fatal consequences.


In addition, the decision-makers from politics, academic and financial management have not understood that a dramatic form of de-industrialization began through the separation of the financial markets from the real economy6 and false economic theories on a broad scale in western industrial countries. All this led to an insidious destabilization of the whole economic system with its effects and consequences visible today. Thus the current economic- and financial crisis is only the final phase of a protracted process ignored for over 20 years. Since politics has no strategies of its own to re-stabilize the economic system, it hopes in the self-healing powers of the market after the bank bailout. De-stabilization of the economy is actively promoted.

THE SOURCE OF ALL EVIL


What lurks in secret and more than justifies the alarm in society has a very different dimension. The crucial factor of the crisis is not currently on the radar of decision-makers. The false economic models of economics are extremely widespread in the academic curriculum.


Across decades, male and female economists provided foundations for economics with their false economic models and ideologies. In this way, they produced a century-error with belated consequences. Formulated coarsely, the hosts of decision-makers were simply “falsely programmed” in their education.


Presumably this “ideological programming” was mainly found in financial management. However politics and the whole media- and economic system are affected. Economists with their false economic models are firmly established in all areas. The consequences are like a nightmare that became reality. Continuing false economic models inevitably leads to the next crisis.


All this reminds us of the feature film “Und taglich grusst das Murmeltier” with the difference that more building blocks for the economic catastrophe are produced again and again in our case. As in the film, we are caught in the infinite loop of a nightmare because the errors that led to the crisis are constantly reproduced.


This infinite loop is the source of all evil. The financial branch already demonstrated this. The “gambling casino” is re-opened. Politics, the economy and the media follow on the heels because they are all stuck in their old behavior patterns. The whole economic system is firmly programmed by the false economic model in the direction of bankruptcies, mass unemployment and collapse of the financial system.

ECONOMIC MODEL FOR MR. AVERAGE


This malformation confronts governments worldwide today with concrete economic problems to which they have no answers. Whether Barack Obama or Angela Merkel, they all face the same challenge and come under increasing pressure. Their political leadership is already put in question since they have no convincing solutions to fighting the economic crisis. However no time remains for protracted discussions or decision-making processes in view of the dynamic of the crisis. How can we break out of the infinite loop of this nightmare?


Nightmares end when the light is switched on. Our nightmare can also be ended this way. In our case, a simple functioning economic model with which society can see itself – without any expert opinions – in what direction the economy develops brings light in the darkness. In its decision-making, society must make itself independent of speculators and economists who have completely failed with their prognoses.


With a functioning economic model, society can orient itself independently and reliably and become capable of acting. The bottom would be knocked out of the malformations and the swindling. In a word, we need an economic model that functions. Mr. Average understands this.

HOW DEBT OVERLOAD ADVANCES IN EUROPE


For politics, there is no alternative. The only possibility is opposing a critical mass to the hosts of “falsely programmed” decision-makers who work with false economic models. Without the active support of society, politics has no chance in the struggle against the crisis.


Everything necessary for Mr. Average’s economic model exists. One hearkens back to a representative cross-section of economic prognoses that accurately predicted and analyzed the crisis. From the concentrate of answers, a functioning model of the economy can be distilled. A model can be outlined with available economic data and visualized in a simple form so it becomes understandable for normal citizens.


With this economic model, an information campaign can be launched with the goal of offering society orientation and future perspectives. On this basis, further necessary measures for stabilizing the economic system and new forms of industrialization can be developed.


Following a reasonable orientation, making a healthy connection between the real economy and financial management and discovering new possibilities of action will only be possible for the economy in this way.


Such an action is efficient, sustainable, quickly realizable, inexpensive and needs no legislative measures. The project can be realized by private initiatives, foundations, organizations and economic associations, not only by politics.


Hopefully politics will see the seriousness of the situation and the necessity for action as quickly as possible since time works against it.

RELATED LINKS

www.baselinescenario.com

www.capitalismhitsthefan.com

"The End of Illusion and the Beginning of the Future"

http://portland.indymedia.org/en/2010/01/396923.shtml

"The Cure is the Sickness" by Jorg Goldberg

http://www.indybay.org/newsitems/2004/05/20/16816681.php

"Democracy is a Useful Fiction" by Chris Hedges

http://www.commondreams.org/view/2010/01/25

"The Quiet Coup" by Simon Johnson

http://www.theatlantic.com/doc/print/200905/imf-advice?x=36&y=1

www.therealnews.com

www.socialistproject.ca

www.thomhartmann.com

"Ways Out of the Crisis" by Jean-Paul Fitoussi and Joseph Stiglitz

http://www.ofce.sciences-po.fr/pdf/dtravail/WP2009-17.pdf

Report this post as:

Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A13 12:39AM

lausd whistle blower A11 6:58AM

Website Upgrade A10 10:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 8:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 6:58PM

Change Links April 2018 A01 6:27PM

More Local News...

Other/Breaking News

OUR HOUSE Grief Support Center Celebrates 25 Years with the House of Hope Gala S24 7:10PM

Against the Rent Madness and For a Nonprofit Orientation! S24 11:56AM

Cybermonde, cyberguerre, cyberespace, cyberterrorisme S24 6:35AM

Paraphysique de psychosomatique S22 6:58AM

Chuck Grassley: Women Abusing, Animal Murdering, Illegal War Supporting Criminal S22 2:58AM

Finance Capitalism and the Digital Economy S21 4:45PM

Muselières syndicales, muselières patronales S21 7:19AM

Jeff Bezos, Amazon, The Washington Post, Whole Foods, Etc S21 2:50AM

Why Choose Nut Milk Over Cows' Milk S21 1:01AM

Antrhopocène, le grand effondrement S19 9:53AM

Abolir l'économie S18 11:18AM

The Dictatorship of Corporations S17 5:26PM

18 Lethal Consequences Of Hunting S17 3:13PM

Paraphysique de l'outplacement déontologue S15 6:51AM

Shopping du bashing S14 8:42AM

After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again S13 8:28PM

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen S12 9:30PM

Probabilités de fin d'humanité S12 6:49AM

Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW S11 2:57AM

Steer clear of work morality! S09 12:10PM

The Shortwave Report 09/07/18 Listen Globally! S06 11:23PM

August 2018 Honduras Coup update S06 12:28PM

Brett Kavanaugh Filled The 5th Circuit With Execution Judges S06 6:14AM

Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts S05 8:29AM

Paraphysique de contextualité S05 8:29AM

Crisis Regulation in Global Capitalism S03 3:39PM

Ex-voto de réification S03 10:24AM

Please Oppose Warmonger, Execution and Torture Supporting Bush Operative Brett Kavanaugh A31 10:45PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy