ables of Adventure Capitalism
There was a war.
It ended.
Peasants and merchants once again produced surplus amount of OPM that the elites coveted.
The elites asked for the surpluses. The peasants and merchants wanted to know why they should give them to the elites that already had so much. The elites were quick, like Ponzi. They said they didn't want all of it – they would hold it for them and make more money for them so they could retire.
So the peasants and merchants mistaking arrogance, greed and narcissism for wisdom handed over their surpluses to the elites in exchange of health care, retirement and employment insurance. The elites took the surpluses and spent it. To make it look like it was working they needed more money from peasants and merchants. And they made more extravagant promises.
Unfortunately – spending surpluses proved to be extremely addictive and euphoria inducing and they went on a binge.
They burned huge amounts of surpluses.
And then all the surpluses wer gone and they woke up.
And the peasants and merchants saw that their life savings were gone.
The elites were quick, like Madoff.
The elites said we need more money.
The money is burnt, if we don't get more you will all lose your jobs.
Actually it was the elites that would lose their jobs.
Fields need to be filled – can't fire peasants.
Bread needs to be baked – can't fire bakers.
Who's left to be fired?
After the last depression, peasants and merchants got together and made their own banks – they called them credit unions – what made the different was that they were democratic and did the will of the owners – the people.
Answer me this – how many credit unions need to be builed out?
The answer is none.
The reason – they don't have any surpluses to burn – it's all their own money.
Are credit unions not the ideal model to replace all financial institutions that obviously have flawed economic models – putting the interests of the elites over the owners.
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