Tag: greed

Desmond Tutu on Keystone XL

The taste of “success” in our world gone mad is measured in dollars and francs and rupees and yen. Our desire to consume any and everything of perceivable value – to extract every precious stone, every ounce of metal, every drop of oil, every tuna in the ocean, every rhinoceros in the bush – knows no bounds. We live in a world dominated by greed. We have allowed the interests of capital to outweigh the interests of human beings and our Earth.

and

We cannot necessarily bankrupt the fossil fuel industry. But we can take steps to reduce its political clout, and hold those who rake in the profits accountable for cleaning up the mess.

And the good news is that we don’t have to start from scratch. Young people across the world have already begun to do something about it. The fossil fuel divestment campaign is the fastest growing corporate campaign of its kind in history.

via We need an apartheid-style boycott to save the planet | Desmond Tutu | Comment is free | The Guardian.

economic vampirism

Great, great article by Matt Taibbi at Rolling Stone Magazine.

The first thing you need to know about Goldman Sachs is that it’s everywhere. The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

and

If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.

and the tie-in to the next bubble – “green” carbon credits:

And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion- dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an “environmental plan,” called cap-and-trade. The new carbon-credit market is a virtual repeat of the commodities-market casino that’s been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won’t even have to rig the game. It will be rigged in advance.

holy. shit.

The greed inherent in unchecked capitalism is obvious. The rich get richer by sucking the less-rich into “investing” their money. They also provide “guidance” in the form of screaming “investment analysts” on cable news channels, ensuring the masses keep funnelling their retirement savings to prop up the pyramids so the rich can get their money out before it crumbles.

Why are there no mobs roving the streets with torches and pitchforks, demanding the heads of Goldman Sachs (and other leaders of this shitstorm)? Why are people taking the economic meltdown laying down?

Also, why are the best, most accurate, least adulterated sources of news and editorial critique coming from Rolling Stone Magazine and The Comedy Network? How fucked up do we have to get before we hold some feet to the coals? Does Mad Magazine need to scoop CNN on something big?