The 2008 financial crisis spread from Wall Street to the world almost overnight, threatening the lives and livelihoods of millions, even though its causes had nothing to do with the production and distribution of any of the basic necessities of life. Instead, the crisis erupted because the financial system had become unhinged from its real function: supplying credit to productive enterprises. Finance capital increasingly made its money from complex “derivatives,” which are not claims on a company’s proﬁt (as shares are) but on debts packaged and sold as investments. Immense profits were made, which provided the incentive to create more derivatives, causing debts to be piled on debts, all sold with guaranteed returns. Many of these derivatives involved American mortgages. Since these were backed by a physical asset (the house), they were advertised to institutional investors as highly secure, but the models assumed that housing prices would continue to rise. As it turned out, the housing market was a bad-mortgage fuelled bubble. When it burst, the “mortgage backed securities” became worthless, and banks from Athens to Iceland collapsed. Instead of having to foot the bill for their recklessness and greed, major banks were bailed out with hundreds of billions of dollars of public money. Workers lost their jobs, housings, and savings; Wall Street bankers paid themselves bonuses for the greatest failure of the financial system since 1929.
In my search for understanding of why life-capital at the planetary and social levels of life organisation are being spoiled and deprived while money-capital in terms of the money indices like the global GDP and stock markets continue to increase over time, I am beginning to believe that we have a global corrupt system in which public… Read More
The race to the bottom is a socio-economic phrase which is used to describe government deregulation of the business environment or taxes in order to attract or retain economic activity in their jurisdictions. An outcome of globalization and free trade, the phenomenon may occur when competition increases between geographic areas over a particular sector of… Read More
What we need to do now is heal the wounds of this life-destructive operating system at all levels, and rebase our global reserve money system on life-capital sequencing. This would help us to transition from a system where self-preservation based on petrodollar recycling supremacy or national security trumps (pardon the pun) life-capital recycling or global security. All of our trade deals and wealth management exercises and rules of engagement can now be rebased and re-coupled on building mutual understanding, mutual respect and mutual caring for all life capital – past, present and future. This would then assist us in moving from a petrodollar recycling dictatorship and catalyse the creation of a more democratic, or better yet, a meritocratic world, where the global insecurity of the world no longer exists, and the raison d’être for 1) wars, be it on drugs, cancer, obesity, and terrorism, and 2) inequality-creating wealth management strategies need never rear their ugly heads again.
Ep 19 VIDEO PREVIEW – John McMurtry explains the immutable social imperative to flip this cancer paradigm to life-coherence and how knowledge is the secret to all human advancement. Read More
Over the past two decades of my study of and my practice in medicine, I have always been perplexed by the disconnect between the principle and the application of the proverb, “An ounce of prevention is worth a pound of cure.” Given the meteoric rise of non-communicable physical, mental and social diseases and the cost of their treatment and their burden to society, I would have guessed that policy makers would have made health promotion and disease prevention a top priority, and resources locally, regionally and internationally would have been invested in elucidating the determinants of health promotion and disease prevention and implementing the wisdom of that enlightenment.
Truth be told, much has been discovered over the past decade on adverse childhood experiences and the long-lasting effects on physical, mental and social diseases. Also Sir Michael Marmot and his collaborators have investigated the social determinants of health and have shown unequivocally that social gradients of inequality in terms of access to the basic means of life growth and development does in fact affect life expectancies and disability-adjusted-life-years. Given this trove of empirical data to guide our policy and decision makers, one would have thought that major steps would have been taken at the local, regional and international levels to remedy the social deficiencies in our homes, our schools and workplace environments. This would then serve to minimize adverse childhood experiences, (in addition to the adverse experiences of the adolescents, adults and the elderly) and would also serve to optimize the social, economic and political environments to produce enabling policies that would inform and encourage healthier lifestyles and behaviours. Read More
Reproduced from: http://www.globalresearch.ca/understanding-the-cancer-stage-of-capitalism/5349620 While US President Barack Obama bangs loud drums of war, the Pope (the first of the Catholic Church to choose the name of Francis) accuses “the great ones of the earth [to] want to solve” the world’s crises “with a war… Because, for them, money is more important than people! And war… Read More
On January 8, 2016, I was moved to make contact with Professor John McMurtry, after starting to read his book, ‘The Cancer Stage of Capitalism: From Crisis to Cure‘ (CSC-2). What I read provided context for a better understanding of an article I wrote entitled, ‘The Secret to a Healthy Nation‘ (SHN). CSC-2 provided the ultimate… Read More
I have lost faith in the institutions of our society, be they our schools, churches, businesses and as of late our government. Instead of being beacons of enlightenment, they have become shadows of endarkenment. We have heard recently from an economist that about 88% of our students are being left behind. Our churches are failing in reaching out to the spiritually sick and are now only preaching to the choir. Our businesses are more concerned about profit and the bottom line, rather than the social and environmental consequences of their lack of engagement in their communities. And a government of national unity appears to be united in name only.
How is it that these institutions which are supposed to mold our minds, hearts, hands and policies, are failing miserably in their fiduciary duty to provide the highest standard of care and stewardship for the people they serve? And why instead of seeing progress on these fronts, are we seeing uncertain days ahead? And finally, why instead of seeing the protection of life, liberty and the pursuit of happiness, we are in fact in the majority witnessing disease and death, mental and debt enslavement, and the production and distribution of misery?