Saturday, September 26, 2009
Transfinancial Economics
Jeff Immelt letter to GE shareholders Feb 2009:
“we are going through more than a cycle. The global economy, and capitalism, will be ‘reset’ in several important ways. The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner.”
GE - Letter to Shareholders from Jeff Immelt CEO Feb 2009
Jeff Immelt Financial Times column July 09
"The challenge ahead is not impossible. The first step is recognising that we cannot simply go back to the way things were. This downturn is not simply another turning of the wheel but a fundamental transformation. We are, essentially, resetting the US economy."
Van Jones Powershift 09
"We want a new system"
Robert Reich - Economic Advisor to Barack Obama July 09
"Not a V, not a U. But an X...The X marks a brand new track -- a new economy."
Testimony to the House Subcommittee on Investigations & Oversight Sep11 2009 Nassim Taleb principles of 'Capitalism 2.0':
"Finally, this crisis cannot be fixed with makeshift repairs,
no more than a boat with a rotten hull can be fixed with ad hoc patches. We need to rebuild
the hull with new (stronger) materials; we will have to remake the system before it does so
itself. Let us move voluntarily into Capitalism 2.0 by helping what needs to be broken break
on its own, converting debt into equity, marginalising the economics and business school
establishments, shutting down the "Nobel" in economics, banning leveraged buy-outs,
putting bankers where they belong, clawing back the bonuses of those who got us here,
and teaching people to navigate a world with fewer certainties.
Then we will see an economic life closer to our biological environment: smaller companies,
richer ecology, no leverage. A world in which entrepreneurs, not bankers, take the risks,
and companies are born and die every day without making the news."
Micheal Moore - Jay Leno Sept 15 2009
LENO: Now is reform possible? Is reform possible?
MOORE: Well, I, I don't, you know, a hundred years ago when there was child labor, they said, you know,
'Can we reform child labor? Can we just regulate it, like if the factories were safer and the kids go
to school, we can still have 12-year-olds working in the factory, right?
LENO: Right.
MOORE: No, not right. It's wrong. Some things are just wrong. And this capitalist economic system
that we have, it might have been right at one point, it's not right now. And I don't think we're
ever gonna put the genie back in the bottle. So we need to come up with something new to replace it.
And I'm not talking about... This isn't a debate between capitalism versus socialism.
LENO: Right.
MOORE: I'm actually suggesting go back to our roots of this country, democracy. What if we had an
economy that you and I had a say in? Right now, we all don't have much of a say in this economy.
What if we applied our democratic principles and said, 'We, the people, have a right to determine
how this economy is run.' I think we'd be in much better shape than what we're going through right now.
These and COUNTLESS other examples, are all talking about the SAME thing.
To get to a "reset economy" or "Capitalism 2.0" can't reform existing system, have to scrap everything and start again on path to sustainability.
With everything thats been happening in the last 12 months, but particularly the last 6 months, it's as plain as day to me this is exactly what is happening.
The "reset economy" or "Capitalism 2.0" is some form of "Transfinancial Economics"
(latest update on "Transfinancial Economics")
“we are going through more than a cycle. The global economy, and capitalism, will be ‘reset’ in several important ways. The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier, and a key partner.”
GE - Letter to Shareholders from Jeff Immelt CEO Feb 2009
Jeff Immelt Financial Times column July 09
"The challenge ahead is not impossible. The first step is recognising that we cannot simply go back to the way things were. This downturn is not simply another turning of the wheel but a fundamental transformation. We are, essentially, resetting the US economy."
Van Jones Powershift 09
"We want a new system"
Robert Reich - Economic Advisor to Barack Obama July 09
"Not a V, not a U. But an X...The X marks a brand new track -- a new economy."
Testimony to the House Subcommittee on Investigations & Oversight Sep11 2009 Nassim Taleb principles of 'Capitalism 2.0':
"Finally, this crisis cannot be fixed with makeshift repairs,
no more than a boat with a rotten hull can be fixed with ad hoc patches. We need to rebuild
the hull with new (stronger) materials; we will have to remake the system before it does so
itself. Let us move voluntarily into Capitalism 2.0 by helping what needs to be broken break
on its own, converting debt into equity, marginalising the economics and business school
establishments, shutting down the "Nobel" in economics, banning leveraged buy-outs,
putting bankers where they belong, clawing back the bonuses of those who got us here,
and teaching people to navigate a world with fewer certainties.
Then we will see an economic life closer to our biological environment: smaller companies,
richer ecology, no leverage. A world in which entrepreneurs, not bankers, take the risks,
and companies are born and die every day without making the news."
Micheal Moore - Jay Leno Sept 15 2009
LENO: Now is reform possible? Is reform possible?
MOORE: Well, I, I don't, you know, a hundred years ago when there was child labor, they said, you know,
'Can we reform child labor? Can we just regulate it, like if the factories were safer and the kids go
to school, we can still have 12-year-olds working in the factory, right?
LENO: Right.
MOORE: No, not right. It's wrong. Some things are just wrong. And this capitalist economic system
that we have, it might have been right at one point, it's not right now. And I don't think we're
ever gonna put the genie back in the bottle. So we need to come up with something new to replace it.
And I'm not talking about... This isn't a debate between capitalism versus socialism.
LENO: Right.
MOORE: I'm actually suggesting go back to our roots of this country, democracy. What if we had an
economy that you and I had a say in? Right now, we all don't have much of a say in this economy.
What if we applied our democratic principles and said, 'We, the people, have a right to determine
how this economy is run.' I think we'd be in much better shape than what we're going through right now.
These and COUNTLESS other examples, are all talking about the SAME thing.
To get to a "reset economy" or "Capitalism 2.0" can't reform existing system, have to scrap everything and start again on path to sustainability.
With everything thats been happening in the last 12 months, but particularly the last 6 months, it's as plain as day to me this is exactly what is happening.
The "reset economy" or "Capitalism 2.0" is some form of "Transfinancial Economics"
(latest update on "Transfinancial Economics")
The above is from the following blog End of Civil Society
No comments:
Post a Comment