Jan: Obama team accuses China of manipulating its currency
11 Mar: U.S. commander sees aggressive China in naval clash at South China Sea.
14 Mar: U.S. tries to assure China of its assets safety after expressing their concerns.
18 Mar: China block Coca-Cola bid for Huiyuan.
19 Mar: US Pump US$1.2 trillion into economy.
Furthermore, US troops are in Iraq and Afghanistan, near China's border.
Better not be what I think it will be...
Friday, March 20, 2009
Thursday, March 19, 2009
Is Karl Marx's Prophecy a Reality?
"The history of all hitherto existing society is the history of class struggles." - Karl Marx.
He states that just as feudalism was replaced by capitalism, capitalism would eventually be replaced by socialism. It is a process occuring now in the early stages.
The past years since the start of the Industrial Revolution was the age of capitalism. It was seemingly the most effective and efficient way to generate goods and services to everyone. But the flaw is that it did not consider human nature. It believes that everyone is rational in terms of utility but did not consider other qualitative measures of human, such as power.
The capitalist has gotten too rich too fast and at times with unfair means. The power of the group of network you are in is a deciding factor never to be underestimated.
Currently around the world, the increase in social unrest has only begun, with France reportedly having around 2.5 million citizens on strike, trying to bring Sarkozy down.
The past century was an era of the dictatorship of the bourgeoisie. Today, a widening gap between the rich and poor is increasing at a pace unseen as unemployment rate goes up. As more and more unemployment occurs, the proletariat, when they run out of money, will have nothing to lose if they go beyond moral hazards.
Thus, with the current turmoil just having started, but already achieving large social unrest, we may see the 'dictatorship of the proletariat'. It may not be far.
He states that just as feudalism was replaced by capitalism, capitalism would eventually be replaced by socialism. It is a process occuring now in the early stages.
The past years since the start of the Industrial Revolution was the age of capitalism. It was seemingly the most effective and efficient way to generate goods and services to everyone. But the flaw is that it did not consider human nature. It believes that everyone is rational in terms of utility but did not consider other qualitative measures of human, such as power.
The capitalist has gotten too rich too fast and at times with unfair means. The power of the group of network you are in is a deciding factor never to be underestimated.
Currently around the world, the increase in social unrest has only begun, with France reportedly having around 2.5 million citizens on strike, trying to bring Sarkozy down.
The past century was an era of the dictatorship of the bourgeoisie. Today, a widening gap between the rich and poor is increasing at a pace unseen as unemployment rate goes up. As more and more unemployment occurs, the proletariat, when they run out of money, will have nothing to lose if they go beyond moral hazards.
Thus, with the current turmoil just having started, but already achieving large social unrest, we may see the 'dictatorship of the proletariat'. It may not be far.
Taxing AIG Bonus
It is skeptical if all of the US$165 mil will be recovered by the US government. If you add transaction cost, wouldn't the money shrink smaller? The fed have to show with full transparency that they recovered the money.
It also shows how powerless the government can be even when they own 80% of AIG. Does this show that the powerful executives have powers no one actually ever questioned. I believe it is easy to catch a homeless person on the street for interrogation but hard for the man in wall street.
As history unfolds, many will look back and realise that the fed was created to support the rich and powerful. They comprise of prominent people and bankers, all of higher status and financial power. The congress seemingly represents the people but lack the power to create transparent of the fed. The reality is that the rich will always be more important than the power, always.
Obama has not kept his word in the things he said before he was elected president. He promised change. But politician will always be the same. There is a conflict in interest.
It also shows how powerless the government can be even when they own 80% of AIG. Does this show that the powerful executives have powers no one actually ever questioned. I believe it is easy to catch a homeless person on the street for interrogation but hard for the man in wall street.
As history unfolds, many will look back and realise that the fed was created to support the rich and powerful. They comprise of prominent people and bankers, all of higher status and financial power. The congress seemingly represents the people but lack the power to create transparent of the fed. The reality is that the rich will always be more important than the power, always.
Obama has not kept his word in the things he said before he was elected president. He promised change. But politician will always be the same. There is a conflict in interest.
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