2. RATIONALE: NECRONOMICS
The rationale behind the Great American Sell-off is found in the thoughts of a group of human beings who errantly call themselves "economists". Based on the simple fact that their musings are causing a decapitalization of the human and non-human environment, they have no right to call themselves knowers of the
that is, knowers of the "environmental laws." More truly descriptive than "economics" of their thoughts, advice, and laws is "necronomics."
Necronomics literally translates as the "dead or dying laws" (necro nomos). Today, the people who are providing the descriptions and prescriptions for the American economic system of production are necronomists. Look at the collapsing mess for which they must bear responsibility, and bear a correct name. Necronomists are not observing useful productive intelligence; rather they are using negative intelligence and negative information as indicated by the effects of their advice. They are not intelligent, they are nintelligent with their negative information: ninformation. They are ninformaniacal nincompoops!
Ratcheting Shell Games
One example of the necronomists' ninformation is how they constantly concoct new scribbled-on paper products (sopps) for people to try and retain their savings, that is, save their excess disposable income for raining days or golden years. Think of all the private and public sopps that they have come up with: mutual funds, certificates of deposit, interest checking, Aggie Bonds, Fanny Maes, Ginny Maes, All Savers', Keoghs, IRAs, ad infinitum. The best way to understand this mess of confusing soppy financial instruments is to recall the old shell game.
In a shell game a pea is placed under one of several shells or pods. The pods are then shuffled around in a confusing manner by the dexterous handler. Before or during the shuffling the observer can place a bet on which pod will bear the best return. In necronomics, the small producer is constantly being told by the statistical manipulators to choose this pod or that pod.
Regardless of the occasional winner, the odds are stacked against the producer. The house always comes out ahead. The house is always able to ratchet some wealth, if for no more reason than it has to charge for shifting the pods around. And in some cases, the manipulators of the pods and the sopps have been dexterous enough to remove the wealth without the naive participant realizing the sleight of hand or dilution of sopps.
Please recall the previous chapter discussing who has the inside information on stock, bond, and commodity transactions. Does the person who produces the actual products have the inside information in these transactions or does the professional who manipulates the symbols of production? By having a monopoly on the manipulation of the symbols of production, and always having greater access to inside information and access to inside banks, the symbol manipulators are constantly able to ratchet wealth away from the producers. These shell shuffling, symbol manipulators are very similar to those undesirable elements of society that get money for doing nothing productive: racketeers. In fact, a term could be coined to describe people that ratchet money from the producers through the myriad of sopps: ratcheteers.
The necronomists do have a monopoly on controlling the symbols of production, they use their degrees and positions to confuse the poor blissful souls on how to use their scribbled-on paper products. Why do the sophists have a monopoly? Because the productive individuals, rich and poor, do not organize and establish their own symbols of production through which to retain and maintain their wealth in a non-losing, non-inflationary manner.
A very good example of how necronomics aided and abetted the ratcheting of wealth from the scared producer was the precious metal busts in 1980. Increasingly, people were advised to buy precious metals. A lot of people lost when the thing collapsed. Of course, necronomic advisors pocketed a lot of sales and service commissions.
People in search of maintaining their buying power--the product worth of their savings--were fools for speculating in precious metals, e.g., gold. Every dollar that went into precious metals was a dollar which the producers of essential goods and services did not have access to. As a consequence, essential goods and services suffered both reduced supplies and higher prices.
Pursuit of inflationary returns at the expense of production profits is ninvestment. Ninvestment causes the product worth or product durability of the symbols of production to be worth less. Ninvestment and decapitalism are synonymous; both involve the misuse of the symbols of capitalism to pursue short-term inflationary returns for a few so as to negate long-term production profits for the many.
Fetal or Cancerous Growth
The precious metal bust is symptomatic of how necronomics deserves a name that conveys its necrotic effect on the system of production. There were those who were rejoicing in the rise of the precious metal prices. They said, "Look at all those old mines that will now be profitable to operate." Nintelligent fools. The growth of the precious metal bubble was not an additional subsystem to the total system of production. Rather, the swollen bubble came from cannibalizing human resources from existing production, the swelling caused other subsystems to suffer production reduction.
Through their rationale, the necronomists stimulate abnormal production so as to cause a lopsided, imbalanced, and teetering system of production. A good analogy is the difference between a fetus and a cancer within a womb. Both are rapidly dividing masses of cells causing bulges within the total system of production. However, one is synergistic with the system and will profit the system by becoming an addition to the system in a productive fashion; the other is a one-way consumption of system, carcinogenically cannibalizing the total system with no repayment to ever occur.
Misused Capitalistic Terms
One reason why necronomists are able to ply their deadly advice is their loose use of productive terms and concepts. Below are a list of terms that are misused by the necronomists, how they are misused, and better terms.
Capitalists are not acquistionists or decapitators.
Necronomists refer to their actions and to themselves as being capitalistic. A capitalist is someone who increases production or productivity per capita. A capitalist capitalizes production, either by expanding existing production or by creating new production. A capitalist is not someone who gets a loan from a bank so as to "acquire" and streamline production.
While the acquisitor may have increased his ownership of production and increased productivity per his worker, his streamlining and reducing total production makes him a "decapitator". The streamlining acquisitor is not a capitalist of the whole system of production. He has depressed the level of total production and has lowered the productivity per worker and per capita within the system as a whole.
Acquiring, streamlining, and decapitating production is necrotic to the whole system of production. Necronomics causes unemployment and shortage inflation (sinflation). By reducing per capita production and consumption within the whole system of production, the necronomists are not capitalists, they are decapitalists. They do not promote production profits or capital gains; instead, they generate inflationary returns and capital losses. Capital losses through misuse of the symbols of capital should be logically regarded as a capital crimes. A case can be made for how the necronomists have willfully misused the symbols of capital so as to exact upon the human population the same affects of recent tyrants using more readily recognized weapons of human misery and destruction. The effect is the same: People's time is cheapened, in some cases to the point of death.
Profits do not come from inflationary speculation.
The word profit means "forward". Profits occur only when products are being produced, products which indicate the system of production is going forward. Income derived from speculating for inflationary returns is not a profit; rather, the income constitutes returns. Inflationary returns index a return of the system of production to a lower level of production. Inflationary returns occur when people cease directing their resources into production and production profits.
The examples in which necronomists misuse the word profit are numerous, consider the following quotation.
Pan Am had a record operating loss of $60.4 million in fourth quarter. But the $294 million sale of the Pan Am Building in New York resulted in a net profit of $197 million.
Did Pan Am have a profit in the fourth quarter? Did the $197 million indicate how Pan Am had a quarter in which they went forward to a new level of production or product ownership? Or, did the money indicate how Pan Am had "returned" to a lower level of production or product ownership?
Pan Am did not have a profit anymore than the pensioner who sells family heirlooms in the face of inflation. Do the aged have "profits" when they sell a possession to put carbohydrates in their tummies? No. Nor did Pan Am have a profit when it sold the Pan Am Building in order to put hydrocarbons in its tanks.
Were any of the following necronomic malapropos an indication of production going forward?
The U.S. dollar slumped against most major currencies on a wave of profit taking.
Were any new products produced during this "wave of profit taking"? No, no more so than when "profit taking" precipitates price drops on the stock, bond, and commodity markets. And were there any new products in the case of the following misuse of "profit"?
"an indictment charging two former employees with profiting from inside merger information."
Merrill Lynch profit in the fourth quarter surged 76% to $52.3 million ... E.F. Hutton said preliminary figures for the period show a 110% increase ...
The expression "profit taking" is only half true, for the latter half of the phrase describes the decapitalist, the necronomists, and the acquisitors: they all "take," they do not create! When insiders gain income by selling stocks, did they produce any profits to take? Or did they extract money that should have been divided among all the stockholders of the company? In taking unproduced, undeserved, and unearned wealth, "profit takers" return others to a lower level of existence. Similar misuse of "profits" are used to describe the inflationary income which large corporations receive by having a virtual monopoly, by having an oligopoly, e.g., oil, cereal, etc. It's a hell of way to describe and run a system of production, a misdescription and mismanagement that makes civil existence more hellish everyday.
Investment and speculation are not the same.
The semantic self-contradiction of "profit taking" and "inflationary returns" provide insight into two words that the necronomists not only confuse but also join to form an illogical phrase: "speculative investment." The origin of the words investment and speculation clearly distinguish what necronomists readily confuse. Investment comes from vestments, from clothing. Speculation comes from spectator, from voyeur. A speculator is someone who wants to declothe an investor of his production profits, to get something by producing nothing.
Through the various soppy, shell shuffles, the necronomists have metastasized many instances of non-productive income for the speculators and the pod shufflers. A government which sponsors a growth of speculation at the expense of investment is one that cannot last; the system of production will eventually collapse. A semantic irony supports the contention that speculators are basically immoral voyeurs who metaphorically disrobe the productive individuals and industries of their produced wealth. Consider the word used on Wall Street to describe conglomerates spinning off subsidiaries: divesting!
Capital gains are not inflation returns.
One of the rallying calls of the necronomists, especially the supply-siders, is that the tax-rate on capital gains should be cut. Question: Are their proposed tax-cuts really for capital gains? Because they do not distinguish between
creative, capitalistic, production profits
the call of the necronomist for a tax-cut on capital gains will merely speed up the
streamlining, contraction, recession, depression and collapse
Schooled in the necronomists' decapitalistic rationale, the corrupt and incompetent politicians are imbalancing the use of human resources; they are making it personally beneficial to speculate for inflationary returns rather than invest for production profits. Consequently, our system of production will die. We have the laws of the dead and the dying, not ecos-nomos, under the modern politicians.
Capital gains should be taxed lower than they are presently. However, inflationary returns parading under capitalistic banners should be tax quite high because of their counterproductive effect on the economy. People should be penalized for trying to get something-for-nothing ... in a court of law it is call theft. People should be penalized for any kind of capital loss for which they are responsible when the capital is not theirs.
A security and a nocurity are not the same.
Many necronomists refer to their scribbled-on paper products as being "securities". However, if one's purchase of a soppy symbol of production causes negative effects to production, one has not bought a security, one has bought a "nocurity". A security is "the state of being or feeling secure; freedom from fear, anxiety, danger, doubt". Do your certificates of deposit give you a sense of security?
Currency Inflation: Loss of Product or Production Value
Perhaps the greatest criticism of the necronomists, especially the monetary necronomists, is their viewing inflation as merely a growth of the money supply. Inflation indexes a change in the ratio of currency to the available products or production. It is true that an increase in the amount of currency without a corresponding increase in products or production will cause currency inflation.
The greatest cause of inflationary cheapening throughout history, and today, has not been from too much currency. Rather, inflation has been from too few goods or services as production has recessed or collapsed as a result of mismanagement. More specifically, and simply, currency is most frequently cheapened because of a decline in that which currency is supposed to symbolize and that from which currency derived its name: time. If time at production falters under the hand of fallible man, then the current value of currency will also fall, for the production time value of currency can be no more than the on-going amount of production. There can be no more products than there is production time. If production time recesses, product shortages will result with shortage inflation cheapening the value of currency.
The product or production worth of the units of currency will be less with recessed production time. As production goes down, the product worth of currency as a whole and in units decreases. Consequently, necronomist do not realize that where currency
While they may have an quantitative index called the "velocity of circulation", necronomic monetarists ignore where the money is circulating. Where the various quantities of money circulate determines the "product quality" of the money. If money is not allowed to circulate among producers, the product quality of the money would drop. In other words, inflation would occur where production was hampered by cash flow problems. Inflation of product prices would be greatest in those products suffering a loss of local velocity of circulation.
Understanding the inflationary role of specific or local velocity of circulation, one can logically recognize many sources of currency inflation without a rise in the money supply, or even with a decrease. Massive inflation of currency could occur with a decrease in the money supply if people hoarded money or all the money was lent to gamblers, speculators, or acquisitors. There would be no production time if money is diverted away from production, whether from hoarding or gambling, or some other reason.
What good is it if brokers and bankers are able to offer cheaper services if their increased service productivity comes at the expense of product productivity? Would you rather have cheaper banking service or cheaper food and housing? Where you put your money determines what products will be produced. Savers ultimately determine where inflation or deflation in prices will occur. If savers fund counter productive, decapitalistic bankers and brokers, they indirectly generate a deflation in the prices of financial services. However, it comes at the expense of inflationary price rises in other goods and services.
The lack of money in production causes production collapse and a drop in the product quality of currency: sinflation (inflation due to shortages). Bankers may complain about budget-deficits financed through Treasury issues as the cause of money being crowded-out of investment. Through their loan policies, however, bankers misdirect more money away from production circulation.
The necronomists do not appreciate how the use of money today affects the value of money tomorrow. They do not ask the questions:
What Products? What Production? What Producers?
Nor do they analyze all their statistics on business activity, business loans, and capital investment in terms of the question:
Of course we're busy,
Consequently, their statistical data shows a growing economy: "Personal income rose an adjusted 0.6% in November as service-industry salary increases more than offset declines in manufacturing payrolls ...." Will the personal income offset the inflation from product shortages due to the decline in manufacturing? This increase in personal income, concentrated in service industries, is a cancerous bloating, an indexing of how the less essential busynesses cannibalizing the essential production. This growing carcinogenic imbalance cannot go on, the lop-sided growth within the body of our economy will reveal itself. Our imbalanced civilization will teeter-over and collapse.
No Sense of Time
Necronomists developed their vapid, fetid, fecal calamity by losing their sense of time. They forgot and ignored how the word and concept of currency developed, how one received compensation for what one was "currently" worth, what one's production time was worth. Consequently, they never have established a public or private "currency" kept constant and current in its production time worth. The inflation or cheapening of currency is a loss of how much production time one can buy with the currency. When a dollar will buy only half as much as it used to, timistically, the dollar will only buy half as much production time.
Currency instability results from divorcing the symbols of production from production itself. Currency is supposed to symbolize production time. Through currency, one can directly or indirectly buy another person's production time in producing a good or service. Currency is the
common, intermediate product
by which producers exchange their production time.
Currency instability allows unfair and unfree exchanges of production time. It permits people who do not produce any good or service--except the service of handling the currency--to be constantly over-compensated for the product worth of their production time. The greater the currency instability, the greater the opportunities to exploit the instability for inflationary or deflationary returns. An example of currency instability leading to non-production, inflationary income is the following example.
[In Argentina], just before a devaluation that turned out to be 28%, he cashed in 235 million pesos for $100,000 in dollars. As rumors of the impending devaluation grew hotter, he contracted to buy 300 million worth of peso bonds indexed to the cost-of-living, hoping that devaluation would occur before he had to pay for them. He won.
What did this speculator win? Keep in mind that there cannot be any inflationary gains without inflationary losses. How do these inflationary losses show up as suffering for the losers? The inflation chasers have more money that is used to inflationarily bid up the goods and services that they use. These inflationary price rise, due to speculators gaining income from currency instability, trickle down to the lowest level of any economy. How many dollars of buying power did the speculator gain on currency speculation? The same dollars of buying power that others loss:
After the devaluation, he sold dollars to pay for the bonds at their predevaluation price. The value of the indexed bonds had taken a jump as a result of devaluation so that, after holding them a month, he was able to sell them for 344 million pesos. When he converted his pesos back to dollars (to get ready for the next devaluation) [sic], his bankroll had grown to $116,000 and was in the form of a "hard currency," as well.
The gain of $16,000 in a month for one person through currency not being stabilized to its namesake (time) amounts to $16,000 worth of inflationary losses to those who produce goods and services and have to pay higher prices in competition with the speculators who produce nothing.
The greater the currency instability, the greater the lure on people to turn from production time profits. People will turn to non-productive income which returns the economy to a lower level of production. Thus the system of production is necrosed, the cities become necropolises, and the rationale is necronomics.
As the system of production returns to a lower level of production, less and less time is spent producing the essential goods and services on which the essence of human survival depends. Human time (life) depends on essential goods and services. The growth of inflationary returns within the handling of the symbols of production metastasizes a cannibalization and collapse of the essential support systems. As a result, the system begins to run out of production time and out of the essential products that are the timistic commodities of existence.
Humanity is running out of time. The time loss is a result of inflationary actions displacing production profits. The U.S. has been able to minimize the domestic effects of the return of civilization to a lower level. The U.S. dollar is the de facto world currency. By running trade deficits, and cheapening the dollars we give in exchange for the surplus of foreign products, the U.S. has been able to maintain an artificially high standard of living.
This artificially high standard of living has been bought by the regression of civilization as a whole. The artificially elevated lifestyle has been possible only by speeding up the regression of countries that have no leverage in manipulating the international symbols of production. The U.S. suffered a peanut crop shortage and tried to buy hundreds of thousands of tons from India or China. Because we can pay more than the domestic populace--using our excessively printed and inflated currency--the domestic population will suffer the effects of our drought as if it had happen there, not here. By having the de facto world currency, we are able to export our inflation, unemployment, and poor weather.
This colonialization of foreign economies (through our currency being the international currency) has been going on for years--see "Monetary Colonialism" in Currency: Substance or Symbols. Through "monetary colonialism" the U.S. has become an economic junkie, addicted to foreign imports to fill-in the lack of domestic production. However, it cannot go on. When the international bubble based on monetary colonialism collapses, the greatest suffering will be in the nation that became the largest economic junkie. After all, the bigger they are the harder they fall, and the bigger the addiction, the colder the turkey. Who prescribed these addicting policies? The legisflators and the necronomists.
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