Welcome to Finance and Fury, the Furious Friday edition

Today we will be talking about conservatives and why they are not conserving anything anymore. In particular, the new form of conservatives the neo-con conservatives and the noble lie or the big lie.

Remember the Occupy Wall St movements? And the population protesting the 1%? Some perspective is you were likely in the world’s 1%. The anger should have been directed towards the political systems that facilitated the behaviour that led to the GFC.

Wrap up:

  • Neocon Political ideology is framing policy to influence banking
  • GFC initiated by past policies, like the Housing Urban Development Act in 1992
  • Federal Home Loan Mortgage Corp (Freddie Mac) loans 30% of loans to low income households
  • Glass Steagall episode link
  • Clinton Cash book

Why am I talking about all this?

  • Clear up some conceptions, which is the point of Friday episodes
  • When people talk about today’s conservative politicians, there is a good chance they are neoconservatives

What is conservatism?

  • Political philosophy promotion traditional institutions in the context of culture and civilisation
  • Who was Quinton Hogg?
  • “Conservatism is not so much a philosophy as an attitude, a constant force, performing a timeless function in the development of a free society, and corresponding to a deep and permanent requirement of human nature itself”
  • Conservatives morphed out of classical liberalism
  • Neocon is named appropriately – the new con
  • Trotsky and Stalin’s relationship and how communism operated in Russia
  • The bitter infighting between socialists and communists
  • Revolutions in feudal countries lead to capitalism
  • What did Leo Strauss write in regards to Plato and the noble lie
  • Plato turned the mythologies into a class system
  • Introduce the neoconservatives in the 1960s, Irving Kristol the godfather of neoconservatism
  • How does this change conservative values?

What are the 2 Major Concerns?

  • The neocapitalist and interventionalist foreign policy
  • Neocapitalism – characterized by correcting the excesses by means of application of measures that guard over social well-being. This is part of the big lie
  • High representation of Keynesian economists around politics
  • What is Irving Kristol take on capitalism?
  • It becomes a state monopoly capitalism – more money in politics means more influence in politics
  • This policy just creates a concentration of companies resulting in monopolies
  • There used to be 50 companies (1960s) that determined the distribution of information, now there are only 6
  • Interventionalist approach with international policy and war
  • Permanent revolutions and pre-emptive war to achieve desired ends
  • Protection of currency – the petrodollar episode link
  • Occupation of other nations through military might and bases – this opposes neutrality

History is a struggle for power:

  • Any political organization the pursuit of power is the priority
  • Principals of the party soon give way to principals of power
  • Social life cannot dispense without organization
  • In terms of representative democracy – how much participation do you have in the laws going into place?
  • What is the totalitarian mill?
  • Only power restrains power

It seems like the power dynamic is increasing over time. The representative political system gives the people an illusion of control.

This has been an explanation as to why supposed conservatives don’t act like it or use supply side economics.

We will touch on this again next week when I cover Brexit, where the conservative party keeps pushing the British independence off.

If you liked the episode, please review it and share it around. It helps others see it as well.

If you want to get in contact you can do so here.

 

Resources:

Irving Kristol’s Neoconservatism – https://archive.org/stream/IRVINGKRISTOLTHEAMERICANREVOLUTIONASASUCCESSFULREVOLUTION28/Neoconservative%20Persuasion%20S%20e%20l%20e%20c%20t%20e%20d%20%20E%20s%20s%20a%20y%20s%20%2C%20%201%209%204%202%20-%202%200%200%209%20by%20Irving%20Kristol-42_djvu.txt

 

 

What creates a lack of resilience in financial markets and how a loss of resilience makes them prone for a collapse?

Welcome to Finance and Fury,  For the past few Monday episodes been talking about complexity theory and markets – check out Last two eps – went through phase transition, feedback loops and how markets become fragile and some signs this is happening Most recent...

Are sectors of the US share market in financial bubble territory?

Welcome to Finance and Fury. Are sectors of the share market in a bubble, one in particular that comes to mind would be the US tech sector. There have been many bubbles in financial markets throughout history – if enough excitement is generated around some new asset,...

Say What Wednesday: How to negotiate with real estate agents

Welcome to Say What Wednesday! Today’s question is from Mark; “Hi guys, lovin’ the show – I’m looking to buy my first place in Brisbane and I was just wondering if you have any tips on how to negotiate with the real estate agents and work out what price I should be...

The Financial Curse – When a Financial System does more harm than good

Welcome to Finance and Fury the Furious Friday Edition On the last episode we talked about the City of London Corporation, a mini plutocracy Today we are exploring at what point does a financial sector state to crowd out real economic growth? Referred to as the...

Should we be getting charged up for Electric Vehicles?

Welcome to Finance and Fury, The Say What Wednesday Edition Today’s question came from Matt and Lucas Labor’s plan for 50% of new cars to be electric by 2030 plus introduce a carbon emissions target for new cars. The Greens have one-upped this. Today we break down the...

All else being equal, what influences property prices more than anything else?

Welcome to Finance and Fury. In this episode we look at the most important factor that moves property prices. In other words, what one thing affects property prices more than anything both positively or negatively. This doesn’t mean that it is the only thing that...

What are the best ways to save for a home deposit?

Welcome to Finance and Fury – For this week’s episode we are answering a question from listener David – surrounding some options to save for a home deposit “The conventional wisdom is to save for, say, a home deposit in a bank account with as high as possible interest...

Are we going through an economic or societal collapse or just another turning in a cycle?

Welcome to Finance and Fury, the Furious Friday edition. Last week we went through the Fed Theory and disconnect theories. Today I want to look at an overlapping theory to this on what is happening in society as well. I just finished an interesting book called the...

Say What Wednesday: Labor’s policy changes – Franking credits, negative gearing, super, and CGT

Welcome to Finance & Fury, the ‘Say What Wednesday’ edition where every week we answer questions from you guys.   Today’s question is from John;   “Thanks for the podcast and the content you provide. I thought a useful podcast topic could be the...

How Government spending through fiscal expansion aims to help the economy today, for future generations to worry about repaying

Welcome to Finance and Fury Last week – talked about Goodhart's law - "When a measure becomes a target, it ceases to be a good measure." – yet central banks have made inflation the policy target – Went through permanent QE and lowering rates and cashless economy Today...

Pin It on Pinterest

Share This