Debitism - The new capitalism

[Fishbird]

Hi

In a german message board some people build a new economic theory. It implies that capitalism ( people exchange money for goods and the money comes out of nowhere ) doesnt exist but that all and everything is based on debt = debitism.

Here is an english explanation of how it all works and started.
What do you think?

http://f17.parsimony.net/forum30434/messages/362473.htm

 

[gnome]

We gave up Capitalism a long time ago in exchange for Economic Fascism.

Debt-based consumption is Gummint's deceptive way of confiscating the wealth of its citizens.... You know... inflation, printing of money and debasement of currency... yada, yada, yada.

Nothing new... been going on since the beginning of civilization.

America's Founding Fathers were well aware of this and tried to make it impossible through our constitution. However, the desire of Gummint to "consume everything" fostered the disregard of individual economic principles and rights.

If you don't hate the Federal Gummint and the Federal Reserve, then either (1) you are a parasite sucking from the public teat and you LIKE it this way, or (2) you don't understand JACK!

 

[ByLoSellHi]

Call it 'Credit-cardism' and 'HELOCism' and be done with it.

 

[Hook N. Sinker]

The ability of people that I know to squander their money amazes me.

I'm just not like that. I love saving and investing.

 

[ChrisM]

Quote from gnome:

We gave up Capitalism a long time ago in exchange for Economic Fascism.

Debt-based consumption is Gummint's deceptive way of confiscating the wealth of its citizens.... You know... inflation, printing of money and debasement of currency... yada, yada, yada.

Nothing new... been going on since the beginning of civilization.

America's Founding Fathers were well aware of this and tried to make it impossible through our constitution. However, the desire of Gummint to "consume everything" fostered the disregard of individual economic principles and rights.

If you don't hate the Federal Gummint and the Federal Reserve, then either (1) you are a parasite sucking from the public teat and you LIKE it this way, or (2) you don't understand JACK!

I love this post !

 

[fhl]

Quote from gnome:

We gave up Capitalism a long time ago in exchange for Economic Fascism.

Debt-based consumption is Gummint's deceptive way of confiscating the wealth of its citizens.... You know... inflation, printing of money and debasement of currency... yada, yada, yada.

Nothing new... been going on since the beginning of civilization.

America's Founding Fathers were well aware of this and tried to make it impossible through our constitution. However, the desire of Gummint to "consume everything" fostered the disregard of individual economic principles and rights.

If you don't hate the Federal Gummint and the Federal Reserve, then either (1) you are a parasite sucking from the public teat and you LIKE it this way, or (2) you don't understand JACK!

Presumably, if your wife was running up your credit card, the correct response would be to...... hate your wife, and if you didn't 1. you are a parasite sucking her teat and you LIKE it this way, or 2. you don't understand JACK.

Could it be that there is another response? Like, say, a responsible gummint? (read... smaller, not higher taxes?) or would you simply prefer anarchy?

 

[IV_Trader]

Quote from gnome:

We gave up Capitalism a long time ago in exchange for Economic Fascism.

Debt-based consumption is Gummint's deceptive way of confiscating the wealth of its citizens.... You know... inflation, printing of money and debasement of currency... yada, yada, yada.

Nothing new... been going on since the beginning of civilization.

America's Founding Fathers were well aware of this and tried to make it impossible through our constitution. However, the desire of Gummint to "consume everything" fostered the disregard of individual economic principles and rights.

If you don't hate the Federal Gummint and the Federal Reserve, then either (1) you are a parasite sucking from the public teat and you LIKE it this way, or (2) you don't understand JACK!

excellent post

 

[maxpi]

Quote from fhl:

Presumably, if your wife was running up your credit card, the correct response would be to...... hate your wife, and if you didn't 1. you are a parasite sucking her teat and you LIKE it this way, or 2. you don't understand JACK.

Could it be that there is another response? Like, say, a responsible gummint? (read... smaller, not higher taxes?) or would you simply prefer anarchy?

smaller govt is not going to happen, ever. There is no party that really is going to bring off smaller govt. Might as well try to stave off the anarchy for a while.

 

[fhl]

Quote from maxpi:

smaller govt is not going to happen, ever. There is no party that really is going to bring off smaller govt. Might as well try to stave off the anarchy for a while.

You think that no gummint(anarchy) is going to happen?

I think if you look at the old ussr and the current russian gummint, you might be able to say that smaller gummint is possible, wouldn't you?

 

[katesdp]

Have you read "Empire of Debt" ?