I don’t think —
People understand money.
Flashback: Helping a friend’s boyfriend carry her across a street. We each have an arm over one shoulder. She weighs 75 pounds. And is fabulously drunk. He is an economics major. I say, “I will never understand money.” He says, “Then you will never have any.”
Flashback: Talking to a friend in a big house I own, recounting that story. “Boy was he wrong.” My friend laughs.
Flashback: On the phone with a creditor. “You’re charging me $75 for being late on a payment I paid on time.” Guy on phone: “You’re right, apparently someone messed up on the books there.” Me: “You realize you can’t charge me $75 because your bookkeeper fucked up right?” Guy on phone: “Please don’t curse.”
The irony of me bringing up this subject is I am not a math or economics person. I should not be the person bringing this up. At all. But since no math or economic persons are stepping up to the plate? I have to do it.
Perhaps the reason no one understands the under classes [and that includes you middle classes and you upper middle classes if any of you are left, all of you] are being enslaved is no one understands a monetary unit equals a unit of labor.
Like a measure of heat, or a calorie, or a measure of weight. A monetary unit is very explicitly linked to a unit of labor. That is its entire basis. When it is exchanged, again, it is an exchange for a unit of labor. When large amounts of money are exchanged, again, these are large amounts of units of labor being exchanged. When a bank, which produces nothing and provides no actual act of labor, is charging huge interest rates and racking up units of labor in its possession? That is enslaving a people or, indentured servitude of a people, because their labor – and future labor and the labor of their children to come — is now owned by the bank.
The US government ran a budget deficit of 198 billion in March 2012. The March figure pushed the deficit up to $779 billion for the first six months of fiscal 2012.
The US population is approximately 300 million.
I am going to let you do the math. How long will it take for the US people to pay off that debt?
In units of work.
What do you get paid per hour? [The population count includes old people and babies and stuff so you are going to have to take them out of the equation. You can do it! I know you are that smart!] Now. Based on how much you get paid per hour. And taking old people and babies out of the equation. How many people working at your salary — if you are lucky enough to have a job — will have to work how long to pay that deficit off?
Welcome to the slave gang.