for: elephants in the room - financial industry at the heart of the polycrisis, polycrisis - key role of finance industry, Marjorie Kelly, Capitalism crisis, Laura Flanders show, book - Wealth Supremacy - how the Extractive Economy and the Biased Rules of Captialism Drive Today's Crises

Summary

• This talk really emphasizes the need for the Stop Reset Go / Deep Humanity Wealth to Wellth program
• Interviewee Marjorie Kelly started Business Ethics magainze in 1987 to show the positive side of business After 30 years, she found that it was still tinkering at the edges. Why? - because it wasn't addressing the fundamental issue.
• Why there hasn't been noticeable change in spite of all these progressive efforts is because we avoided questioning the fundamental assumption that maximizing returns to shareholders and gains to shareholder portfolios is good for people and planet.**** It turns out that it isn't. It's fundamentally bad for civilization and has played a major role in shaping today's polycrisis.
• Why wealth supremacy is entangled with white supremacy
• Financial assets are the subject
  • Equity and bonds use to be equal to GDP in the 1950s.
  • Now it's 5 times as much
• Financial assets extracts too much from common people
• Question: Families are swimming in debt. Who owns all this financial debt? ...The financial elites do.

meme

• wealth supremacy and white supremacy are entangled

for: key question - maximizing returns

key question

• Is maximizing returns really what we insist upon if that is the force that's driving our fragility and ecological crisis?

for: quote - transformation

quote: Marjorie Kelly

• We don't start by asking: Is transformation possible? We start by asking: Is it necessary?

for: quote - Marjorie Kelly, quote - finacialization, progress trap - financialization, progress trap - capitalism, speculative investing

quote: Marjorie Kelly

• we're not in the economy of the 1950s anymore.
• And we act as though we are, that finance is this productive force and it's building, it's building wealth.
• Well, for the most part, it's not.
• There's so much financialization, so many financial assets, that they've become an extractive force.
  • And a big piece of this is that we're not really distinguishing between
    • productive investments and
    • speculative investments