Blog 54

2013-April-03

No Billionaires


Several years ago now I wrote extensively about the inequalities of wealth distribution and the role the banks have played in creating a credit society in order to maximize the extraction of wealth from those who create it.

I also wrote about how society has been conned into accepting as 'normal' indeed that it's somehow 'clever' to become a billionaire, remembering that the way the system has evolved, most billionaires go on to rapidly become multi-billionaires, [a function of a grossly mismanaged social system, not the cleverness of billionaires].

In one article I tried to bring the number 'billion' into perspective, it is all too easy a word to say without considering just how big it is. In another article I talked about society's failure to regulate runaway wealth stripping from the very people who create it.

I found the video below on the Internet which embodies almost all the topics I was writing about five years ago. Five years during which I hoped we would see some improvement in the current world of economic chaos. Sadly it is not the case, not that I really expected any improvement, the very small percentage of people who are stripping  and hoarding all the wealth being created have too strong a foothold for there to be any change anytime soom, short of a worldwide social revolution or global natural disaster.

Video provided by http://nobillionaires.com.

In the video above, a TED Talk by Nick Hanauer is used to illustrate a point, it is disturbing that the 'seemingly' impartial 'people at TED' have withdrawn the talk from their website. Below is an extract from the Time Magazine website, business.time.com, and a copy of the original TED talk video by Nick Hanauer.

"This past March, millionaire tech investor and entrepreneur Nick Hanauer – one of the early backers of Amazon.com – gave a talk at a TED conference in which, among other things, suggested that middle-class consumers, not rich people, are the real job creators – and that because of this rich people should be paying more in taxes. Though the talk drew applause from conference attendees at the time, TED Talk curator Chris Anderson decided it wasn’t worth sharing with the wider world, and refused to post it on TED’s website.

His explanation? The talk was “too political” to be posted during an election year, and that “a lot of business managers and entrepreneurs would feel insulted” by some of Hanauer’s arguments. This seems more than a tad disingenuous, since TED generally doesn’t shy away from controversial ideas, and is sometimes so “political” that it invites actual politicians to talk at its conferences."

Video by http://business.time.com

Ho hum.. 

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