Nov 19 Bp WIlliamson Column
#1
Numbers of commentators on economic questions are presently writing or saying that the world’s financial system is on the brink of collapse. None of them are sure of the timing, but many of them predict that it will be a major collapse. Yet before the onset of the financial crisis in 2008, few people saw it coming because they were comfortable in a way of life that seemed well established and for ever moving forward. However, if these commentators are right, it is about to come off its hinges.

We should all of us be thinking what went wrong and how it should be put right. Here below are a series of practical proposals, adapted from a recent article on the website Burning Platform. One need not agree with each of them to begin envisaging alternatives to our present broken system. There are political and financial proposals. Let us begin with the latter :--


* Nationalize those banks which by being “Too Big to Fail” can hold the State to ransom. Let any consequent losses fall on the people responsible or involved, not on the taxpayer.
* Re-institute (in the USA) the Glass-Steagall Act to stop banks from ever becoming so big again.
* Re-institute mark to marketing accounting rules, so that banks can no longer pretend that their assets are worth much more than they are worth in the market-place.
* Regulate the derivatives market so that likewise no financial entity can become so big that it can threaten to crash the entire system if it goes under (as happened in the USA with AIG).
* Simplify the present highly cumbersome system of income tax, or replace it altogether with a consumer tax, and eliminate corporate tax breaks.

Notice how such proposals may be explicitly financial, but they are implicitly political, because to be put into practice they would need a significant change in the political way of thinking of the people and especially of the leaders. Finance depends on politics. Here are the more obviously political proposals, which may be disputed, but they at least point in the right direction :--


* To combat the corruption of too comfortable politicians, impose term limits. To combat the corruption of elections by special interests, cut out all lobbying and lobbyists.
* To cut the power of the central bank, take away its control of the nation’s money supply.
* Re-organize the States’ welfare benefits, today so draining the States’ finances that tomorrow they will be able to benefit nobody.
* Re-instruct the people to go without, and to accept a lower standard of living, so that instead of spending society into oblivion, they build it by saving.
* Do what can be done to replace suburban sprawl by more self-sufficient communities.
* Renounce world empire so as to cut the enormous military spending of the USA, for instance by bringing thousands of troops home from their bases all over the world.

Here again, for such proposals to be put into practice, they require great changes in the people’s way of thinking, especially in that of the leaders. Political decisions depend upon what people value more, or most. Why are we alive ? To enjoy on earth, or to be truly happy for eternity ?  Is that an either-or question ?  Is there an eternity ?  Thus politics depend on religion, or on the lack of it. Will today even a financial crash bring anyone to their senses ?

Kyrie eleison.
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#2
I love it when foriegners tell us how to govern ourselves.
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#3
(11-18-2011, 11:22 PM)Someone1776 Wrote: I love it when foriegners tell us how to govern ourselves.
What do you mean?
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#4
(11-19-2011, 11:55 AM)a83192 Wrote:
(11-18-2011, 11:22 PM)Someone1776 Wrote: I love it when foriegners tell us how to govern ourselves.
What do you mean?

I think it's quite simple. Bishop Williamson is not an American citizen, therefore, he's a foreigner. And he is trying to sell us on socialism by having the fed take over the banks.

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#5
(11-19-2011, 12:45 PM)Petertherock Wrote:
(11-19-2011, 11:55 AM)a83192 Wrote:
(11-18-2011, 11:22 PM)Someone1776 Wrote: I love it when foriegners tell us how to govern ourselves.
What do you mean?

I think it's quite simple. Bishop Williamson is not an American citizen, therefore, he's a foreigner. And he is trying to sell us on socialism by having the fed take over the banks.
Are you saying he is Socialist??
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#6
(11-19-2011, 03:13 PM)a83192 Wrote:
(11-19-2011, 12:45 PM)Petertherock Wrote:
(11-19-2011, 11:55 AM)a83192 Wrote:
(11-18-2011, 11:22 PM)Someone1776 Wrote: I love it when foriegners tell us how to govern ourselves.
What do you mean?

I think it's quite simple. Bishop Williamson is not an American citizen, therefore, he's a foreigner. And he is trying to sell us on socialism by having the fed take over the banks.
Are you saying he is Socialist??

I am saying at least one of the ideas he expressed is a socialist idea.
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#7
Well you may call him socialist if you so choose, But the +Bishop is merely proposing solutions that will actually work. As of yet, i have not heard or seen one Damn thing out of any of our natural born officials that would amount to any real solution. Our leadership, democrat and republican worship at the idol of money and power. Solutions must come from those who do not. And while i am on this box, please show me where the American capitalist system has set the gold standard for the rest of the world. If i am not mistaken, it was our financial system and it's propensity to play fast with the rules that led the world's economies into this pit in the first place!
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#8
Bishop Williamson, SSPX Wrote:Nationalize those banks which by being “Too Big to Fail” can hold the State to ransom. Let  any consequent losses fall on the people responsible or involved, not on the taxpayer.

Karl Marx Wrote:5th Pillar: Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.

The statements are not the same but similar.

Bishop Williamson's recommendations will work but I'm not sure if the ideas are too statist.
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#9
(11-19-2011, 07:07 PM)Servire Deo Wrote:
not really Bishop Williamson, but him quoting another Wrote:Nationalize those banks which by being “Too Big to Fail” can hold the State to ransom. Let   any consequent losses fall on the people responsible or involved, not on the taxpayer.

Karl Marx Wrote:5th Pillar: Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.

The statements are not the same but similar.

Bishop Williamson's recommendations will work but I'm not sure if the ideas are too statist.


Please note that they are not really "Bishop Williamson's recommendations", though.  He explicitly states that "One need not agree with each of them...."  He is simply using someone else's comments as an example of brainstorming ideas to change what is broken.  He says

(11-18-2011, 10:59 PM)a83192 Wrote: ...One need not agree with each of them to begin envisaging alternatives to our present broken system. ...
* Nationalize those banks which by being “Too Big to Fail” can hold the State to ransom. Let any consequent losses fall on the people responsible or involved, not on the taxpayer....

....Here are the more obviously political proposals, which may be disputed, ...

He doesn't say, "here are a bunch of ideas that I think are flawless and totally agree with and would undoubtedly fix the problems."   
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#10
So then this column is pointless drivel.
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