• 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: the real BIG LIE, elephant in the room - wealth inequality, working class driven to hard right

• for: book - wealth supremacy - 7 myths, 7 myths of Capitalism, capital bias, definition - capital bias

• DESCRIPTION: 7 MYTHS of CAPITALISM

  • The Myth of Maximization
    • example of absurdity of maximization
      • Bill Gates had $10 billion. Then he invested it and got $300 billion. There's no limit to how much wealth an individual can accumulate. It is absurd.
  • Myth of the Income Statement
    • Gains to capital called profit is always to be increased and
    • Gains of labor is called an expense, is always to be decreased
  • Myth of Materiality (also called capital bias)
  • definition: capital bias
    • If something impacts capital, it matters
    • If something impacts society or ecology, it doesn't matter
  • With the capital bias, only accumulating more capital matters. NOTHING ELSE MATTERS. This is how most accountants and CFO's view the world.

• quote: Laura Flanders

  • The capital is what matters. We're aiming for more capital and nothing else really matters. That's the operating system of the economy. So the real world is immaterial to this world of wealth as held in stocks and shares and financial instruments.

• for: definition - wealth supremacy

• definition: wealth supremacy

  • is the condition of an economic system that is purposely designed so that those already in possession of a great deal of wealth can at the minimum maintain their share, but more proactively to grow it
  • by definition, wealth supremacy is designed to maintain inequality
  • since carbon inequality tracks wealth inequality, this system is designed to maintain climate injustice

Declaration of Independence as a systemically white supremacist document

Whereas the Declaration calls the native people "savages" and the drafters of the Declaration wanted to maintain the ability to colonize additional lands, "All men are created equal" is only true for the "all men" that looked like the drafters.

DrPH, M. D. H., M. D. (2022, January 11). The Folly of School Openings as a Zero-Sum Game. The American Prospect. https://prospect.org/api/content/4a1fc36e-7263-11ec-9e7d-12f1225286c6/

This is the water we swim in.

This is Water by David Foster Wallace

examples of upper-class supremacy

This seems an interesting sociological issue. What is the root cause? Is it the economic sense of "keeping up with the Jonses"? Is it a zero-sum game? really?

The Germans respected African American Soldiers more then America did by embracing black culture.

Rebecca Solnit uses this quote perfectly here.

Would probably try to address the following w/ my students. Was Brutus correct (in either the short term or the long run)? Did this clause of the Constitution supersede or usurp state gov't authority? If so, specific historical examples and or Supreme court precedent cases??

I think this idea of being more "advanced" than "our indigenous neighbors" is very interesting when thinking about our history as a nation. It is a common theme in our history that the whites did not believe that the indigenous people were as educated and "needed" the whites for this reason, and this idea is somewhat reflected in this part of the report. Tana Mardian

This could be one of the reasons for the recent protests. This says that the commissioners wanted to find a location that was in the center of the white population. This alludes to the fact that the University was made for white people.The protesters feel that they are justified by this because they are going back to what the original commissioners wanted when they made the University.

It is really crazy to think that people are categorized in different levels because of their races. And surely the sub-categories are made to create supremacy and a larger segregation by the already privileged people.

I'm just trying to imagine how it might make Coates son squirm to have his dad talk to him about his body. I guess I'm squirming a bit too. I'm expecting to hear about racism, but here I'm being asked to think about a body.