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            Well, as of this week the interest rate on my credit card has gone up 25% and will vary depending on the cost of treasury notes. Did I forget to pay my bill? No. Did I screw up in some way on the ever changing conditions of my card spelled out in fine print on the back of each monthly statement (requiring one of those “as seen on TV” illuminated magnifying glasses to read)? No. The card company simply says they aren’t making enough money off my account. Thus the rate needs to increase to make it worth their while to keep me as a customer. They are being honest and forthright about their need to make more money. This is quite baffling since money is worthless (the Fed is lending it for practically nothing). It’s not like it was wheat or oil and potentially unavailable., And it isn’t as though they are saying that since the price of what is being sold (the money) is so low that we (the sellers) are taking action to get you to buy more. Not that at all. It is more like “we have the market on the product cornered, and now you have no other alternative but to pay us what we decide” (in a sense, through their agency making it potentially unavailable, like wheat or oil).

            Mother Jones came out this week with economic statistics that have been repeatedly available (and touted) since the late 90’s (before the burst of the bubble). Yes folks, 20% of the citizens of the US of A own 80% of the wealth (leaving the other 80% to scrabble over the remaining 20% of wealth, something they just happen not to mention). And yes, 40% of the people of this same country have no net worth, own nothing (Hey, what do you mean nothing? I just bought the latest iPhone). Even this small blog has repeated various published accounts of these figures since 09. But now they appear in color, with neat little graphics, and have come out in Mother Jones. That should make them really hit home this time.

            Gene Sharp was on NPR being interviewed by Steve Inskeep the other morning. He has written some books that are said to have influenced recent activity in Egypt, Tunisia, etc. I’m dubious about that claim so I thought I’d check my source for slow and poor readers (obvious, at least to my credit provider). Not a copy of From Dictatorship To Democracy to be borrowed within the OhioLink library network. Of 2 copies listed, only 1 is extant. One copy is listed as “Missing” (in action? Is the OWU Library now flying the black POW/MIA flag?). The other copy is out and can’t be requested. Coincidence or conspiracy? (Why is the good stuff always so impossible to get, like it was always for someone else? Separate reality theorists?) Don’t use your democracy and your rights creditors will raise the rates. Where was it written that rights are not given but that they are had (inalienably at that)? Who said liberty is not granted, it is taken?

            All this makes me curious about the math (sort of like Zeno’s racetrack). At which ratio level will the separate reality DeBord theorized crumble and implode? Gadhafi is supposedly worth 38 billion (That makes outsourcing security to guard the gates a prudent business expense). “Is J. Lo too soft for ‘Idol’ eliminations?” When the ratio in the US hits 15% of the population owning 85% of the wealth, will the other 85% sit up and take notice that they are fighting over 15% of the wealth? Or will it need to get to 10%? 5%? (sold American!) Maybe Gadhafi and J. Lo are on to something, only just mismanaging the biopolitics?

            My credit card rate went up because the credit card company said they needed to make more than what they have been making to date. That’s their prerogative. In Wisconsin, as well as other states, folks are being told they will have to give up their rights to negotiate contracts. Rights they “had” previously are to be no more, ostensibly because the state is not making enough money.  It has often been said that a recession is when money goes on strike. The “Economics for Dummies” read is that the paper doesn’t buy enough (the aggregate costs more, no one is buying. They are holding back their money). The exchange centers on something else (gold, oil, wheat, etc.). The exchange is not enough. Money is on strike. But a different read is that capitalism is based on the premise that money (capital) must make money; should “earn” it (I love that word “earn”). Those with the money (remember the 20%?) aren’t “earning” enough, and so insist on making more. Hence, money is on strike (Professor Kanth says it is now homogenous globally). Jeez, I love that word “earn”.


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