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Category Archives: Sovereign wealth fund

THE BEADY EYE ASKS: ARE WE RIGHT TO BE TALKING ABOUT GOING BACK TO NORMAL OR ARE WE JUST FOOLING OURSELVES.

26 Friday Mar 2021

Posted by bobdillon33@gmail.com in #whatif.com, 2021. The year for change., Algorithms., Artificial Intelligence., Capitalism, Civilization., Climate Change., COVID-19, Digital age., Education., Environment, Fourth Industrial Revolution., Future Education., How to do it., Human Collective Stupidity., Human values., Humanity., Inequality, Life., Modern day life., Our Common Values., Post - truth politics., POST COVID-19., Poverty, Reality., Sovereign wealth fund, Sustaniability, Technology v Humanity, Telling the truth., The common good., The essence of our humanity., The Future, The Obvious., The pursuit of profit., The Reset. Fact or conspiracy., The state of the World., The world to day., THE WORLD YOU LIVE IN., THIS IS THE STATE OF THE WORLD.  , Truth, Truthfulness., Unanswered Questions., VALUES, We can leave a legacy worthwhile., What Needs to change in the World, Where's the Global Outrage.

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Artificial Intelligence., Back to normal., Capitalism and Greed, Capitalism vs. the Climate., Defaults looming., Distribution of wealth, Forthcoming Economic Depression ., Global warming, Greed, Inequility, Overriding priority., Post-Covid-19, Rebuilding our society., Sovereign wealth fund, The Future of Mankind, Visions of the future.

 

( Twenty-minute read) 


Apart from the tragic human consequences of the COVID-19 epidemic, it’s impossible to measure the price of A GLOBAL DEPRESSION OR THE COMING CLIMATE CHANGE, NOT TO MENTION THE SURGING INEQUALITY DRIVEN BY AI.

But rest assured that it will be the young generation that will be saddled with the bill and the consequences and few countries are likely to be left unscathed by the covid -19 outbreak’s financial ramifications.

We have conveniently forgotten if you remember before the pandemic we had a financial meltdown in 2008.

Ireland, Portugal, Spain, Italy, economies were all operating on borrowed money with all of them amassing debts away beyond their annual tax revenues to the point that their budgets were consumed entirely by interest payments.

Greece was on the verge of causing the Euro to collapse while England was in the grips of an austerity program that resulted in Brexit the cost of which has no definitive figure. 

90% of this was big banks creating debts world-wise in the knowledge that they would have to be bailed out by the taxpayers. (Too big to fail is a phrase used to describe a company that’s so entwined in the global economy that its failure would be catastrophic.)

While Wall Street hedge funds, with credit default swaps and sovereignty wealth funds, we’re making hay while the sun-shined, world debts were doubling. 

Take Iceland for example. German banks pumped $21 into its banks, Sweden $400 million, England around $30billion, the Netherlands $300 million, Oxford University a mere $50 million. Iceland’s banks went bankrupt. The government couldn’t bail them out because it didn’t have the money. Instead of being too big to fail, they were too big to save. Iceland never resorted to austere budget cuts that are so prevalent in Europe.

They imposed capital controls. They let the banks fail.

Iceland’s economy successfully survived a sovereign bankruptcy and government collapse.

However, Iceland’s government today is spending a back-breaking 17.3% of its tax revenue just to pay interest on the debt.

Without a doubt, Iceland was and is the canary in the coalmine for the sovereign debt crisis that is now unfolding across the world right now.

With investors around the world suddenly wake up to a sobering reality of a major default… bigger than Iceland in 2008. It won’t be long before we see countries defaulting because of the amount of government borrowing to fight Covid-19 

So what happens when governments themselves ceased to be credible? 

This might be something that had been considered preposterous only months ago but when one looks at what is only the start of a global depression it is now very much on the cards.

It’s important to remember that throughout history humanity has experienced no shortage of pandemics and deadly viruses but despite the similarities, of these pandemics some of the differences are now even more striking.

The economic fallout from these pandemics was barely noticeable. (The same can be said of the Spanish Flu of 1918.)

What is making the COVID-19 pandemic so unique is not the virus itself, but our collective response to it. Governments in their zeal to control society, have destroyed the global economy on a scale the modern world has never seen. These losses are unprecedented in modern history. The loss of human life that can never be recovered is regrettable but there’s a degree of anxiety now that’s well beyond the health scares which are still very serious and concerning.

If we take a look for example at the USA.

Its economic loss is more than twice the total monetary outlay for all the wars the US has fought since September 11, 2001, including those in Afghanistan, Iraq, and Syria.

Closer to home. 

Millions out of work, industries losing billions, and that’s just the beginning. Transportation companies losing billions in market value with tourism the restaurant and foodservice industry decimated with real estate defaults looming.

Further afield the so-called least Developed Countries, whose economies are driven by the sale of raw materials, will not be spared either. Latin American region as similarly vulnerable.

In addition to global poverty, the pandemic has adversely affected vaccination rates, HIV transmission, gender equality, education, and more. Unfortunately, these problems won’t be reversed overnight—or anytime soon.

When will things go back to normal?

Never.  

Our society is fundamentally flawed, with a devastating financial storm more than likely on its way we cannot simply hit the reset button and go back to normal.

As we go about rebuilding our society for a new day, it is absolutely critical that we focus our efforts on healing the wounds of the people who suffered most.

We all know that the distribution of wealth is key to any recovery and we are going to witness in this pandemic and subsequent economic depression how inequality is the main cause s of why our world is in such a mess. 

So if we want a world worth living in we must address the distribution of wealth along with education.

( The Solution.

Embedding equity and empathy into our cultures by reimagining schools and the introduction of a Universal Basis Living Wage. 

Rather than preparation education (to enter a world of I am all right Jack ) we should be promoting core values education.

This education should be free to all paid for by the state. Not designed by wealthy white men paying the minimum wage, awarding themselves dividends, launching profit-seeking algorithms, running plundering sovereignty wealth funds, leaving the young generation with massive debt.

After two decades of progress around the world, nearly 37 million people have lost significant amounts of income and are now living on less than $1.90 per day. 

There is little point in governments spending billions on projects that enrich the few while their citizens have to resort to food banks, social welfare, etc. 

While Countries’ debts are ballooning exponentially, due in part to combating Covid-19, the fourth industrial revolution in the form of Technology is eroding the opportunities of earning a living or sharing in the profits of automation, machine learning, etc. 

It is not possible to stop the erosion but it is possible to share the wealth in a fair and meaningful way with a guaranteed income that would cut government costs while stimulating economic recovery. 

By scrapping the concept of the welfare state a form of structural inequality and replace it with a government-guaranteed payment to provide financial security

Cash is the best thing you can do to improve health outcomes, education outcomes and lift people out of poverty.  

It would stop people from emigrating not just to other countries but to cities.

The social welfare state is what prevents the poor from building their wealth to better their lives.

How could it be financed?  

Place a 0.05% aid commission on revenue made by profit-seeking algorithms and tax the top 1% and allocate 10 to 12% of GDP directly to the universal income payments.

The benefit would automatically rise with national prosperity and inflation.

The simplicity of the program means it would also cost governments less.

It is inevitable. If we don’t we will rebuild an exclusionary society.) 

                                                ————–

Germany, Spain, the U.K., and the U.S. are all in the top 10 spenders, all conjure money out of thin air and funnels it to the government.

There will be inquiries.  How long of a sentence does someone get for railroading his nation’s economy? Life? 30-years? 10-years?

Where should we begin to rebuild our lives?

There are a number of possible futures however if we don’t take this opportunity to build a future that is more humane we will slide into something far worse.

The responses so far to the pandemic are simply the amplification of the dynamic that drives other social and ecological crises.

The overriding priority remains to save lives.

However, understanding human behavior in its wider economic context is necessary if we are to solve climate change or if we are to tackle future pandemics problems all created by our economic structure.

Both are socially driven. 

With every week that passes, we learn more about the virus and understand more about how to defeat it. But the more we learn, the more we realize how little the world yet understands about the true nature of the threat – except that it is a shared one that we must all work together to defeat. 

Now is the time to teach the student of society a lesson of humility which should guard him against becoming an accomplice in men’s fatal striving to control society – a striving which makes him not only a tyrant over his fellows but which may well make him the destroyer of a civilization…

The world is “not at the mercy of the virus called covid, but the fuse is burning on the bomb – Climate Change. 

It is at the mercy of Profit for profit’s sake that must be harnessed to affect change.

(See previous posts) 

At the end of the day, the Icelandic people are responsible back in 2008 for their collapse. They were never bailed out. They were stuck with the bill.

It does not take a genius to describe the changes that are needed.   

 

All human comments appreciated. All like clicks and abuse chucked in the bin.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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THE BEADY SAYS; THE TIME HAS COME TO COMMENCE CREATING A NEW IDOLOGY TO LIVE ON AND WITHIN EARTH.

03 Sunday Jan 2021

Posted by bobdillon33@gmail.com in #whatif.com, 2020: The year we need to change., 2021. The year for change., A Constitution for the Earth., Artificial Intelligence., Capitalism, Civilization., Climate Change., COVID-19, Disaster Capitalism., Earth, Environment, Evolution, Fourth Industrial Revolution., Fresh Water., How to do it., HUMAN INTELLIGENCE, Human values., Humanity., Inequality, Life., Natural World Disasters, Our Common Values., Pandemic, Paris Climate Change Conference 2015, Political Trust, Politics., Populism., Post-Covid-19, Privatization, Reality., Sovereign wealth fund, Survival., Sustaniability, Technology v Humanity, The common good., The essence of our humanity., The Future, The Obvious., The pursuit of profit., The state of the World., Trade Agreements., Truth, Truthfulness., Unanswered Questions., VALUES, We can leave a legacy worthwhile., Wealth., WHAT IS TRUTH, What Needs to change in the World, Where's the Global Outrage., World Economy., World Leaders

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Algorithms., Artificial Intelligence., Capitalism, Capitalism and Greed, Capitalism vs. the Climate., Climate change, Coronavirus (COVID-19), Distribution of wealth, Earth, Environment, Global warming, Globalization, IDEOLOGIES., Sovereign wealth fund, Technology, The Future of Mankind, Visions of the future., World aid commission

 

( A seven-minute read) 


IF THERE IS ANYTHING TO LEARN FROM COVID IT IS THAT WE HUMANS MUST CHANGE THE WAY WE LIVE COLLECTIVELY AND INDIVIDUALLY ON THIS PLANET.

CURRENTLY, WE ALL LIVE WITHIN IDEOLOGIES THAT ARE BROKEN.

SOME VISIBLE SOME NOT. 

(An ideology (/ˌʌɪdɪˈɒlədʒi/) is a set of beliefs or philosophies attributed to a person or group of persons, especially as held for reasons that are not purely epistemic, in which “practical elements are as prominent as theoretical ones.” Wikipedia. 

There are many different kinds of ideologies, including political, social, epistemological, and ethical.

  • “We do not need…to believe in an ideology. All that is necessary is for each of us to develop our good human qualities. The need for a sense of universal responsibility affects every aspect of modern life.” — Dalai Lama.
  • “The function of ideology is to stabilize and perpetuate dominance through masking or illusion.” — Sally Haslanger
  • “[A]n ideology differs from a simple opinion in that it claims to possess either the key to history or the solution for all the ‘riddles of the universe,’ or the intimate knowledge of the hidden universal laws, which are supposed to rule nature and man.” — Hannah Arendt)

At the root of all these ideologies is the value of money.

HOW IT IS ACQUIRED AND DISTRIBUTED IS WHAT NEEDS TO BE CHANGED.

A religion may present a vision of a just society, but it cannot easily have a practical political program with or without money.  

All idea systems have a class basis. This class bias is defined by the acquisition of wealth in one form or another – assets, power, etc. Nither however can any longer dominate the state through an appeal to the populace, and then use the powers of the state to control both the economy and the private lives of the citizen’s work.

No longer can politics itself, acquire certain ideological characteristics whose true nature is concealed.

All forms of isms that belong to the 19th or 20th century may suggest that ideologies are no older than the word itself—that they belong essentially to a period in which secular belief increasingly replaced traditional religious faith.

So let’s ask the question.   

Where are we?

In terms of truth we now in a world both connected and disconnected in the extreme sense of the word connected.

IT IS CLEAR THAT THE WORLD NEEDS TO MOVE BEYOND SLOGANS.

A system that rewards those with capita while taxpayer’s money is used to support food banks for those out of work is not sustainable.

The economic injustices are plain to see with historic debt the inheritance of the young along with irreversible climate change and biodiversity collapse.

We now need an ism that shifts human values to a different set of values by placing the earth’s healthy existence at the forefront of all our values.

WE MUST NOT ONLY CONFRONT OUR MISUNDERSTANDINGS OF THE NATURAL WORLD WE MUST USE KNOWLEDGE NOT AS A MEANS TO CREATE WEALTH BUT AS A GLOBAL UNDERSTANDING WHERE WE ARE AT. 

WE CAN NO LONGER STAND BYE AND WATCH BIG TECH MONOPOLIES COMPANIES SWALLOW WHAT IS LEFT OF COMPETITION.

WE CAN NO LONGER STAND BYE AND WATCH A MARKET PLACE THAT CREATES WINNERS AND LOSERS ON THE BASES OF WEALTH. 

WE CAN NO LONGER WATCH WORLD ORGANISATIONS GOVERNED BY VETOES.

WE ALL DEPENDENT ON EACH OTHER AND OTHERS AND MUST COLLABORATE WITH ALL THAT SURROUNDS US.  

No longer is it possible for any system whether it’s socialism, communism, anarchism, fascism, nationalism, liberalism, and conservatism to be FREE OF INTERFERENCE FROM ARTIFICIAL INTELLIGENCE, MACHINE LEARNING, AND UNCONTROLLED ALGORITHMS.

THESE TECHNOLOGIES IN THEIR PRESENT STATE ARE SIGNALING THAT INTERPRETATIONS OF IDEOLOGIES ARE OUT OF DATE. 

You only have to look at the world to see the inequalities created by the pursuit of growth at any cost. This pursuit has turned all of earth’s resources into products to produce more products sold in a marketplace governed by short term profit. 

No longer is it possible to take fresh air, fresh water for granted. 

If we don’t want a world where from birth to death is viewed as an opportunity to exploit our weaknesses and essential needs to live out our lives in the first place,  we need AN NEW IDOLOGIE CALLED REALISM, NOT ESCAPISM, NOT APATHY, OR ANY MONOTHEISM, OR NEOREALISTS

“ Rather a collective meanings that constitute the structures which organize our actions.”

There is only one solution.

That is as advocated by this blog in several posts to Harness PROFIT FOR-PROFIT SAKE.

High-frequency trading with algorithms, sovereign wealth funds buying earth resources – land, water, energy, futures/ hedge funds – betting on demand, currency exchanges manipulating value, trade deals excluding fair trade, the list is endless. 

ALL ACTIONS THAT ARE NOW REQUIRED TO CHANGE COURSE REQUIRE FUNDING.

A 0.05% WORLD AID COMMISSION ON ALL ACTIVITIES THAT ARE NOT SUSTAINABLE WILL CREATE A PERTUTIAL FUND OF TRILLIONS TO CREATE A WORLD THAT’S WORTH LIVING ON.  

There is one thing for certain change is happing but the window for change is closing.

Climate change is not something that might happen in the future. 

We need a new relationship, to a more sustainable relationship with the natural world.

Creative imagination is what’s required so if you read this post let’s hear your comments.  

 https://youtu.be/GCwHki1q_I8

All human comments appreciated. All like clicks and abuse chucked in the bin.

  

 

 

 

 

 

 

 

 

 

Social unrest in the long tall grass while a few billionaires laugh there a way to the bank 

 

 

 

 

 

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THE BEADY EYE ASK’S IS ENGLAND ENTERING A GOLDEN ERA IN MORE WAYS THAN ONE?

17 Friday Jul 2020

Posted by bobdillon33@gmail.com in 2019: The Year of Disconnection., 2020: The year we need to change., Brexit., COVID-19, Disconnection., Donald John Trump, Economic Depression., European Union., Heredity Monarchy., homelessness., Human values., Modern Day Communication., Modern Day Democracy., Modern day life., Nigel Farage., Pandemic, Politics., Populism., Post - truth politics., Post-Covid-19, President of the USA., Reality., Refugees., Robot citizenship., Sleeping Rough., Sovereign wealth fund, Technology v Humanity, Telling the truth., The common good., THE NEW NORM., The Obvious., The USA., Trade Agreements., Truth, Truthfulness., Unanswered Questions., VALUES, WHAT IS TRUTH

≈ Comments Off on THE BEADY EYE ASK’S IS ENGLAND ENTERING A GOLDEN ERA IN MORE WAYS THAN ONE?

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Brexit v EU - Negotiations., Capitalism and Greed, Coronavirus (COVID-19), European Union, Visions of the future.

    (Four-minute read) 

Here is a country that is losing its marbles.

In an interconnected world where there is no such thing as sovereignty because globalization means that nation-states submit themselves to international treaties and international agreements that are not always in their best interests.  

The recent economic crisis that started in 2007 and now the coming economic depression and the continuing pandemic will prove that sovereignty of nations being subsumed by international bodies cuts both ways as the global economy is tightly interconnected and hence, cannot be regulated by nations in isolation.

Here is a country that on 30 June 1997,  the final embers of its empire came to an end with the 99- years lease on Hong Kong’s New Territories.

Never before has a country passed a colony directly to a communist regime that does not even pretend to respect conventional democratic values.

However the British Empire – for all its messy crimes and misdemeanors – was equally praiseworthy.

The empire was and is not just a story of domination and subjection but something more complicated: the creation of novel or hybrid societies in which notions of governance, economic assumptions, religious values and morals, ideas about property, and conceptions of justice, conflicted and mingled, to be reinvented, refashioned, tried out or abandoned.

The question is are we now to witnessing the final act. 

The non-recognition of England is already being used by its national broadcasting company the BBC referring to England as the four nations.  

In fact, England is already fragmented.

English nationalists if such a thing exists appear to be blind to the breakup of England.

Today, a hundred years on, the world is witnessing remarkable self-destruction in England.

An uneasy transition has or is taking place, from a decaying colonial legacy to a country that sees life through platforms like Facebook, Twitter, Snapchat, and Instagram lies, manipulation, in every area…..with a global crisis forming, which is not just a Pandemic but an Economic depression with mass unemployment.

The question now is whether British people can continue to play their part in the development of the modern world. 

It has to pump trillions of quantitative easing money into its banks at the cost of ten years of Austerity. Dumping the EU its largest market on the results of a non-legally- totally false informed non legally binding referendum while building two Aircraft carriers and replacing worthless nuclear submarines, while 8.4 million its people alone are living in sub-standard housing with 400,000 people are either homeless or at risk of being homeless relying on foodbanks. 

The people themselves – about half who no longer give a rat’s a— about England, who are now hellbent on their smartphones, Ipads, creating an unrealistic, relativistic, melting pot utopia.

These people will be living on the English purse for some time, not the stuff of which national pride is made. They have other priorities dedicated to its demise. 

One would have to wonder why migrants risking life and limb to get here. 

Perhaps it because all the servants are leaving. 

These are the strange things happening, that demonstrate quite clearly what is wrong with Britain – and, probably, the rest of the ‘developed’ world, both devotion to business and profit, not people. 

“We convinced many countries, many countries – and I did this myself for the most part – not to use Huawei because we think it’s an unsafe security risk,” the US president Donald Dump said.

(This is a man who seems to wake up every morning wondering what controversy he can provoke, what headlines he can create.

Diplomacy, or the lack of it, can be a complicated business. We’ve learned that from observing Donald Trump.

Both his campaign and presidency is marked by bursts of false and outrageous allegations, personal insults, xenophobic nationalism, unapologetic sexism and positions that shift according to his audience and his whims.

This is a man far more consumed with himself than with the nation’s well-being.

From that moment of combustion, it became clear that Mr. Trump’s views were matters of dangerous impulse and cynical pandering rather than thoughtful politics.)

With the UK now becoming the US junior partner, (one of the most unreliable partners for any country) who cares when a phenomenal’ trade deal beyond Nigel Farage is promised, providing it sends its new aircraft carrier Queen Elizabeth to the South China Seas with American warplanes, and supplies the Arabs with bombs to finish off Yeham.   

It’s one thing to get rid of the Chinese firm Huawei and its 5G infrastructure and in return to sour the world’s second-largest economy behind the US, which has more money in the bank than any other country. 

Indeed three of the world’s 10 biggest sovereign wealth funds are Chinese, together holding more than $1.5tn (£988bn) in assets.

Not too long ago the UK was one of China’s favorite places to invest – not anymore. 

Beijing’s ambassador to London, Liu Xiaoming, warned: “China wants to be UK’s friend and partner. But if you treat China as a hostile country, you would have to bear the consequences.”

 China operates an Authoritarian form of capitalism against Anglo – American capitalism which is the root of the problem. Global supremacy.

China’s investments may well be subordinate to its National Development and reform commission, but the staggering truth of Huawei is that the US does not want China to be a superpower when it comes to technology.

With the pandemic being used to push the protection of businesses the world population will eventually be tracked.  

Both the US and England might well end up as viewed as failed states due to the handling of the COVID-19 with both countries ending up with up distant and withdrawn people far from enhanced by COVID-19.

Not too long ago, the UK did a 79 million deal to import pig semen from China for stemcell research.

Its not stemcell research it needs. It needs a lot of fixing but isn’t that what the next four years are going to be about?

What is needs is some Face Recognition and a written constitution.  All human comments appreciated. All like clicks and abuse chucked in the bin.

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THE BEADY EYE OBSERVES WHAT TECHNOLOGY IS DOING TO THE PURSUIT OF PROFIT.

05 Tuesday Nov 2019

Posted by bobdillon33@gmail.com in 2019: The Year of Disconnection., Algorithms., Artificial Intelligence., Capitalism, Climate Change., Fourth Industrial Revolution., Inequality, Modern day life., Our Common Values., Politics., Reality., Sovereign wealth fund, Technology, The common good., The pursuit of profit., The state of the World., The world to day., Unanswered Questions., Wealth., WHAT IS TRUTH, What Needs to change in the World, Where's the Global Outrage., WORLD POVERTY WHERE'S THE GLOBAL OUTRAGE

≈ Comments Off on THE BEADY EYE OBSERVES WHAT TECHNOLOGY IS DOING TO THE PURSUIT OF PROFIT.

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Algorithms trade., Algorithms., Artificial Intelligence., Business and Economy, Capitalism, Capitalism and Greed, Distribution of wealth, Globalization, Inequility, Sovereign wealth fund, Technology, The Future of Mankind, Visions of the future., World aid commission

 

( A twenty-minute read)

The Internet is an incredibly spectacular thing, and only now — after so many years — we are understanding its power.

In spite (and many times because of) all the social media and internet news, we tend to have a skewed view of the world around us.

But there is one thing that is certain.

It has given rise to highly profitable digital platform monopolies, ‘superstar firms’ which are able to use aggregation and analysis of data to make supernormal profits which are disappearing into the cloud.

But what’s really happening in the global economy?

These multi-conglomerations dominate not just the current digital markets but future ones in artificial intelligence and machine learning, with workforces which are relatively small proportional to value-added, putting downward pressure on labour’s share of income.

It is becoming easier and cheaper to replace human work by increasingly
capable robots and artificial intelligence, this automation will accentuate existing trends in the capital and labour shares.

Whatever the future path of the global economy, with growing automation in

the economies of the world substituting capital for labour more and more

of the wealthiest fortunes are held almost exclusively in financial assets.

                                                     —-

We’re not just entering into a period of severe distress with climate change

we are also entering a period of a new uneven distribution of capital

ownership that is now the driver of inequality.

It’s a “new, harsh reality”, ( from weapons of mass destruction, water crises, large-scale involuntary migration and severe energy price shock, extreme weather events, failure of climate change mitigation and adaptation, interstate conflict with regional consequences and major natural catastrophes) that the spending power of governments is dimensioning.

Most of us haven’t quite realized there is something extraordinary happening.

Isn’t it absurd that we, 7 billion of us living on the same planet, have grown further apart from each other? Everything is going through change and that most of us are unaware of that.

What sense does it make to turn your back on the thousands, maybe millions, of people living around you in the same city on the same planet in poverty?

You might be lead to believe that the Internet is taking down mass control and the small are no longer speechless. This might well be true when it comes to the rising failure of climate change mitigation and adaptation or if you look at the Arab Spring, Brexit, and the people’s climate revolution/ pollution.

But its not true when one looks at how and by whom the economy of the world that is driven by growth at all costs.

Why?

Because the natural resources industry is owned by sovereignty wealth funds with financial instability around the world as the net result.

But don’t panic.

With Climate change and Ai, and with all of us exchanging half-truths civilisation is in for a rough ride.

However, technological crises have yet to impact economies or securities in a systemic way.

Which panic button to press?

The only category not to feature in the above harsh realities is algorithm profit from profit technological that is spreading inequalities between individuals and families, between countries, generations and genders, as well as between people from different ethnicities and class backgrounds.

Fleckenstein – David Rosenberg’s Proposal To Print Trillions Of Dollars Is Not Helicopter Money, It’s Cold Fusion

Normally revenue, as you know, is generated by profit/taxes but most revenue sources are already accounted for in government budgeting except the supernormal profits made by in no particular order – Apple, Google, Microsoft, Facebook, Cisco Systems, Intel, to mention just a few.

It’s sometimes hard to fathom the sheer scope of profits made by the world’s most profitable companies.

1. Saudi Aramco: $304.04 M daily – Earns $1 M in 4.7 minutes
2. Apple: $163.1 M daily – Earns $1 M in  8.8 minutes
3. Industrial & Commercial Bank of China: $123.29  M daily – Earns $1M in 11.7 minutes
4. Samsung Electronics: $109.3 M daily – Earns $1 M in 13.2 minutes
5. China Construction Bank: $105.48 M daily – Earns $1 M in 13.7 minutes
6. JPMorgan Chase & Co.: $88.97 M daily – Earns $1 M in 16.2 minutes
7. Alphabet: $84.21 M daily – Earns $1 M in 17.1 minutes
8. Agricultural Bank of China: $83.99 M daily – Earns $1 M in 17.1 minutes
9. Bank of America Corp.: $77.12 M daily – Earns $1 M in 18.7 minutes
10. Bank of China: $74.59 M daily – Earns $1 M in 19.3 minutes

and these are not Sovereign Wealth Funds.

They exist somewhere between the murky grey of return-maximizing, mega-cap asset managers, and clandestine government agencies quietly used to further sovereign agendas.

It is estimated that SWFs combined to hold more than $7.4 trillion in AUM, (Assets under management) representing approximately 6% of global assets under institutional management.

And you wonder with government print trillions to stimulate sagging economies why the world is and still is in a state of meltdown not just climate-wise but capitalistic wise.

We now have both the EU and the UK floating the idea of establishing Citizens wealth funds.

The trouble is that existing wealth funds have already bought up most of the world. Latecomers like THE UK/EU will have nothing to invest in other than technologies that produce profits.

The character of a sovereign wealth fund depends on its purpose and is shaped by how it is capitalised and governed, how it invests its funds and how returns are spent.

A Sovereign Wealth Fund is a state-owned investment vehicle established to channel balance of payments surpluses, official foreign currency operations, proceeds of privatizations, government transfer payments, fiscal surpluses, and/or receipts from resource exports, into global investments on behalf of sovereigns and in the advance of goals that are not transparent.

Economic theory wise, it is important to understand that SWFs form part of their respective country’s total national capital base, where total national capital is defined as the total combination of net financial assets, total physical capital stock (e.g., real estate, machines, infrastructure), unexploited environment, human capital, and unexploited natural resources.

Commodity SWFs are financed from the proceeds of non-renewable commodity exports (oil, gas, precious metals), which grow the AUM base in times of high prices but destabilize their source economies and budgets in times of low. Non-commodity funds, on the other hand, are typically financed from currency reserves or current account surpluses, driven by corporate or household saving rates.

They were once the mainstays of the global investment landscape.

Despite is name the era of neoliberalism was far from liberal.

We are now experiencing the political consequences of this great deception with the rise of popularism.

This blog has been suggesting for some time the setting up of a perpetual funded World Aid fund by applying a 0.05% commission on all profit for profit sake seeking financial activities. ( See previous posts)

All human comments appreciated. All like clicks and abuse chucked in the bin.

 

 

 

 

 

 

 

 

 

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