An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, February 5, 2014
Pope: "No self-denial is real without this dimension of penance. I distrust a charity that costs nothing and does not hurt."
Oh brother. The latest chronicle of ignorance out of the Vatican here.
Next don't tell me he will be calling for a well needed "cleansing recession" like all the libertarian, self-loathing, debt-doomsday people.
Here is the Pope's ideal economy: An economy where the 99% live in squalor and filth and rely on church affiliated soup kitchens and charities for a paltry subsistence, while he gets to scold the 1% who live above these means...
Forget anything revolutionary out of the Vatican as long as this loser is in there.
Let us not read all his words, and judge him through a small 1 sentence & out-of-context peep hole.
ReplyDeleteFrom same article, we hear about a Job Guarantee, possible restraints on derivative banking, and theory away from the 1% not TO the 1%.
He already knows about MMT, Argentina has already tried everything ...
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Sometimes "unjust social conditions" like unemployment lead to this type of destitution by depriving people of the dignity of work and access to education and health care, he said.
"In such cases, moral destitution can be considered impending suicide."
Francis has riled some conservative Americans for his denunciation of capitalism and trickle-down economic theory, which is says is based on a survival of the fittest mentality "where the powerful feed upon the powerless" with no regard for ethics, the environment or even God.
Matt, I think that may be a dig against the "philanthropists" that give a lot in absolute amount but little relative to their total wealth. Even the Koch Bros. do that. Francis is saying that such behavior is BS and he right. A lot of those "philanthropists are just doing it to look good rather than out of the goodness of their hearts. Handing out some pocket change doesn't cut it.
ReplyDeleteWhat this translates to is either give till it hurts personally or don't complain about higher taxes for social programs. Here he could even be thinking about places that either don't issue their own currency or need fx.
Here is what the Pope is saying in simple non-AP English :
ReplyDeleteGive until it hurts,
and if it doesn't hurt
no pain is no gain for anyone ...
goog,
ReplyDeleteIt looks to me that he probably thinks "the rich people have all of the money!.... we have to get money from them... etc..."
Out of paradigm.... rsp,
Here is a video of Bill OReilly vs a ND professor on the same issue:
ReplyDeletehttps://www.youtube.com/watch?v=XrUZv-WvZzM
they are both wrong... rsp,
JUST REPORTING FROM FAMILY IN ARGENTINA :
ReplyDeleteprice of a dress: $1000
milk gallon : $25
Meat : doubled
Hyperinflation has hit.
My prediction came true !
They are going to drive up prices and break into a new currency float as we speak !