EditorsAbout the SiteComes vs. MicrosoftUsing This Web SiteSite ArchivesCredibility IndexOOXMLOpenDocumentPatentsNovellNews DigestSite NewsRSS

10.07.13

Debt and Fraud Economies

Posted in America, Europe, Finance at 3:12 pm by Dr. Roy Schestowitz

Credit Suisse

Summary: A few remarks regarding so-called “successful” (rich) countries and what can be said about the source of affluence (if any, i.e. if not made up or stolen but derived from natural resources like oil)

The Swiss authorities are said to be cracking down on (or at least trying to put an end to) the large-scale financial fraud that many of us call “success” when in fact it’s gaming and manipulation, or in other words systematic looting [1]. At the same time, Switzerland considers introducing the concept of basic income [2,3] as a reality in this high-GDP country (one of the wealthiest in the world, as measured per capita). Europe is trying to mimic US success when it comes to startups [4], but it must realise that careless lending is what made a lot of US corporations grow and even sustain themselves as giants, operating at a loss or running on government subsidies (taxpayers’ money and/or collective/national debt). What we have right now is a massive US debt economy with pretense of recovery [5], corporate deregulation masquerading as “liberalism” [6], and sheer poverty that’s the side-effect of huge economic disparity, leading to sheer desperation for the masses [7]. If a nation seeks to enjoy long-term dominance without constant wars (some countries would rather start a war every once in a few years to send a warning sign regarding conformity and obedience) and without running massive deficits (e.g. subsidising massive corporations that engage in large-scale surveillance and imperialism), then a model nation would be hard to find. Switzerland thrives in financial crimes; it harbours many rich people’s savings in what’s essentially tax havens. Just ask Elmer. In that sense, Switzerland enjoys great wealth for complicity in crimes. Whether it shares the loot with all the citizens in the form of basic wage (like Dubai does by incentivising citizens to stay atop the oil) does not matter. Whether it pretends (to save face) that it is cracking down on the financial crimes that many of its bankers engage in may not matter either. What matters is not a country’s total wealth but the value of its morality. Sadly, by the standards many tend to embrace, all that counts is the “bottom line”, which by convention means money.

Related/contextual items from the news:

  1. Swiss authorities investigate potential manipulation of £3tn currency markets

    Switzerland’s market regulator launches foreign exchange investigation involving ‘multiple banks around the world’

  2. Swiss to vote on 2,500 franc basic income for every adult

    Switzerland will hold a vote on whether to introduce a basic income for all adults, in a further sign of growing public activism over pay inequality since the financial crisis.

  3. Swiss vote for sweet minimum monthly wage: $2,800

    Some 120,000 Swiss signatories have put their names to a petition demanding a monthly minimum wage of $2,800 (2,500 Swiss francs) for every single member of the working adult population. Enough names have been collected for a government vote.

    Anything less than the proposed amount would be deemed illegal, even for people working in the lowest paid jobs. A typical fast-food worker in the US earns roughly $1,500 per month.

  4. 4,000 have signed to support a Startup Europe – have you?

    Today, I’m delighted to announce we reached the milestone of 4,000 signatures. 4,000 people committed and ready to make a change, benefiting Europe’s entrepreneurial spirit and our digital future.

  5. Recovery hype: American Capitalism’s weapon of mass distraction

    From President Obama on down, defenders of the status quo insist that the US economy has “recovered” or “is recovering”. Some actually see the world that way. They inhabit, imagine they inhabit, or plan to soon inhabit the world of the infamous top 1%. Others simply seek security in life by loyally repeating whatever that 1% is saying.

  6. Neoliberalism’s unintended consequences

    One of the oldest rhetorical tricks of free-marketeers has been the appeal to unintended consequences; state interventions, they claim – often reasonably – don’t work out as intended. But it’s not just statist policies that are vulnerable to unintended consequences. So too is neoliberalism, as Ed Miliband’s speech yesterday made clear.

  7. Suicide and the Economy

    “We never spoke of them. Why would we?” Learning the the truth about my great-grandfather, and 40,000 Americans during the Great Depression

Share this post: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Reddit
  • co.mments
  • DZone
  • email
  • Google Bookmarks
  • LinkedIn
  • NewsVine
  • Print
  • Technorati
  • TwitThis
  • Facebook

If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

Pages that cross-reference this one

What Else is New


  1. Microsoft's Vista 10 Still a Failure, So Focus Shifts to Attacks on GNU/Linux, Android

    Vista 10 adoption is already plateauing (at very low levels considering the zero-cost 'upgrade') and Microsoft is trying to assert or exploit (patent) monopolies where adoption and market growth are extremely high (Free software)



  2. Links 3/9/2015: Xiaomi's Linux Push, Calligra/Krita 2.9.7

    Links for the day



  3. TechBytes Episode 89: Chromebooks, Privacy, and Vista 10

    An episode which focuses on the rise of Chromebooks, serious issues pertaining to privacy, media bias, and the demise of Windows



  4. Links 2/9/2015: Chromebooks and Red Hat Enterprise Linux 7.2 Beta

    Links for the day



  5. Software Patent From Troll Called 'Rothschild Connected Devices Innovations' a Symptom of a Rotten Patent System

    Another example of patent trolls and software patents as gatekeepers and parasites, denying access to very trivial ideas or implementations



  6. When Even Patent Lawyers' Blogs Acknowledge the Rapid Demise of Software Patents

    Voices for patents are accepting the new order wherein software patents are hardly potent at all (and increasingly difficult to acquire)



  7. Calling Proprietary Software, Software Patents, Lock-in (Like OOXML) and DRM 'Open'

    What Microsoft et al. call 'Next-Generation Open Media Formats' are basically neither open nor acceptable (it's DRM) and what Microsoft apologists dub 'Open Source Tools' are just another example of a Microsoft Office openwashing Trojan horse



  8. Recycled Old News About Vista 10, Stressing That Not Only '10' is Spyware But All of Windows is

    How Microsoft propagandists are spinning Microsoft's gross and potentially illegal privacy violations as a reason to 'upgrade' to Vista 10



  9. Links 1/9/2015: Manjaro Linux 0.8.13, Netrunner 14.2 LTS

    Links for the day



  10. Patents Roundup: IAM's Claims About India, Lawyers' Patent Bias, ITC for Microsoft, and PTAB Against Kyle Bass

    Another weekly summary, focusing on issues that pertain to or affect Free software in particular



  11. Microsoft Crowd Rocks the Media With Misleading Claims and Deliberate Lies About GNU/Linux, Vista 10, and Free/Open Source Software

    A roundup of rigged press coverage, intended purely to serve Microsoft's agenda



  12. Links 31/8/2015: Linux 4.2, LXLE 14.04.3

    Links for the day



  13. IRC Proceedings: August 9th, 2015 – August 29th, 2015

    Many IRC logs



  14. “Conservative” Site Responds (Yet Again) to Misguided “Conservative” Efforts to Derail Patent Reform in the US

    Patent trolls throw stones in glass houses, contributing to their own unpopularity, but some influential “Conservatives” continue to defend (conserve) them



  15. Increase in Lobbying for Software Patents in Europe and Its Trojan Horse, the Unitary Patent (UPC)

    The relentless campaigns to bring software patents into Europe have not stopped and so-called 'unification' -- much like so-called 'trade' deals -- serves to support them



  16. Microsoft Technology Crashes Financial Markets, Again

    SunGard, which is a Microsoft shop, is clearly failing to provide what it calls mission-ciriticaal [sic] solutions



  17. Alice v. CLS Bank (Alice/§101) Comes to Squash Software Patents Even in Eastern District of Texas

    The crackdown on software patents is coming along nicely and the Alice case is now being utilised even in the capital of patent trolls



  18. Apple's Patent Cases Against Android Are Falling Apart, as Acknowledged Even by the Anti-Android Lobby





  19. Links 29/8/2015: NetworkManager 1.0.6, Systemd Merges “su” Command Replacement

    Links for the day



  20. Microsoft Loves Linux to Death and Still Tries to Kill GNU/Linux

    Microsoft's relentless attacks on GNU/Linux and Free software in general (even if it runs on Windows) are so evident that claims of 'love' remain laughable at best (if not infuriating)



  21. Censorship, Self-Censorship and Intimidation Now the Modus Operandi at EPO

    The European Patent Office has ceased even trying to pretend that it respects human rights, including the right to free speech



  22. Patent Practitioners: "The Unitary Patent Might be Able to Open the Floodgates for Software Patents in Europe"

    The EPO-backed Unitary Patent scheme threatens to bring software patents to Europe and along with them a lot of patent trolls from all around the world (especially the United States)



  23. Microsoft Lies About Vista 10 and Increases Microsoft Surveillance (Even Beyond Vista 10 and Into Android, Vista 7/8)

    Windows surveillance expands retroactively, making its way into platforms other than Windows and also expanding to predecessors of Vista 10



  24. Another Suicide at the EPO, Fifth by Our Count

    Yet another EPO member of staff has just committed suicide, leading to the inevitable question: how many people need to die before Battistelli and his minions are out of the Office for good?



  25. Links 27/8/2015: ownCloud Desktop Client 2.0, Red Hat Downgraded

    Links for the day



  26. Microsoft-connected Mesosphere Threatens to Eliminate Free Software in the Datacentre

    Hiding behind a misleading 'open' label while actually backed by Microsoft (and based on new rumours may join Microsoft), Mesosphere wishes to eradicate Free and back doors-free software in large datacentres hosting a lot of physical and virtual servers



  27. Microsoft Aggression Against GNU/Linux Amid Vista 10's Failure

    A look at the recent assault on GNU/Linux in Munich and the likely cause for this assault (in such a timely fashion, too)



  28. Message to LinuxCon Regarding Microsoft: “It is Necessary to Get Behind Someone in Order to Stab Them in the Back.” -Sir Humphrey Appleby

    Jim Zemlin, executive director of the Linux Foundation, helps Microsoft gain influence in the Foundation after payments are received



  29. Market Share Estimates Confirm That Vista 10 Failed in a Major Way

    Confirmatory evidence that Vista 10 is failing in the market about a month after its much-hyped (paid coverage) release



  30. When Microsoft, the Master of Patent Trolls, Complains About Trolls

    Possibly the world's biggest patent abuser and monopolist, which also creates many patent trolls (including by far the biggest one), takes on a far smaller abuser in Court


CoPilotCo

RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

CoPilotCo

Recent Posts