posted on Mar, 6 2019 @ 12:21 PM
a reply to: Edumakated
Thanks for the reply Ed. My earlier reply was simplistic, attempting to focus my thoughts and questions on the topic.
I am going on the assumption here that there are two ways to look at the entire economic structure. One that it is an open system where the wealth of
the entire system is generated on an ever increasing scale, that is if the market is allowed to run properly. But on the other hand there is also the
view that it is not an open system and that while wealth can be generated in one portion of the market, it is not that it is generated out of
boundless sources but rather generates it wealth at the the expense of another. Buggy whips being an old hack of an example. Buggy whips lost out
while oil filters gained.
My real problem with this endless opportunity model is that I don't see it as endless at all. With technology now able to produce at a much greater
rate creates the need for the producer to force changes in consumer demand in order to sell the product. This is done by advertising and sales
gimicks. The process, not of pressnting the product to the public but rather seeking to commerce the public and actually manipulate the public into
changing what might have been ''wants'' into '' needs. To me this is not a free market, but rather a distortion of the free market because one side
of the market, the producing side, manipulates the other, the consumer.
Likewise, where does the ''cash'' come from to pay for all this wealth being generated. We do not have an unlimited source of ''cash'' or wealth
possessed by the consuming public to produce the pockets of great wealth that come from those new and better products being purchased. What is needed
here is credit. And credit is borrowing.
Borrowing from where. I see credit as borrowing from the future, creating debt, debt that provides cash today for the product today while paying off
that debt in the future. This loop hole in the closed market system which I see being the true nature of the market place allows the formation of
greater pockets of wealth now that in reality, the now, do not exist, because debt has replaced real wealth. And that debt can only be paid in the
And credit is gambling, gambling that one can either pay off or collect on the debt incurred. This to me seems a rather unsustainable situation.