William E. Williams
If you are sane, you are selling your labor at a profit to your employer. Your employer is selling the goods or services you produce at a profit too. Thus you never get what you produce, but you never need it either.
This is where 99% of the people in this forum lose the logic. After repeating this a billion times I saved myself the trouble and here it is:
Some people say a man is made outta mud
A poor man's made outta muscle and blood
Muscle and blood and skin and bones
A mind that's a-weak and a back that's strong
You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter don't you call me 'cause I can't go
I owe my soul to the company store
I was born one mornin' when the sun didn't shine
I picked up my shovel and I walked to the mine
I loaded sixteen tons of number nine coal
And the straw boss said "Well, a-bless my soul"
You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter don't you call me 'cause I can't go
I owe my soul to the company store
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Take a coal miner, Bob. Give him a shovel and he digs 1 ton of coal in one hour. He gets paid $10 per ton for the coal he dug.
Come winter time, Bob needs to buy back some of that coal he dug up. But now he gets charged $20 a ton for what he was paid $10 for. Bob has to borrow money to buy back what he was paid only $10 per ton for.
Who does Bob go in debt to?
Of course, the mine owner. The mine owner is who received the other $10 per ton of coal.
Jack works in a bra factory..
Jack makes 1 bra in an hour and gets paid $10 for each bra.
Mary makes jocks.
Mary makes 1 jock in an hour and gets paid $10 dollars for it.
Neither Jack nor Mary will buy what they produce.
But they must buy each others’ output if they are to have a job.
When Jack and Mary go to the store, they find the bra and the jock both cost $20.
The owners of the bra and jock factory in pursuit of profit increased the prices of the goods, making Jack and Mary unable to buy what they produced without going into debt.
They must borrow the money from the bra and jock factory owners to buy back what they produced.
This is my scenario of what is happening to the American family. As millions of wives and children go into the work force in an attempt to keep their families out of bankruptcy and maintain their standard of living, they are increasing the rate of debt that they must fall into to consume the very same items they produce.
THE AMERICAN PEOPLE ARE IN DEBT TO THE COMPANY STORE.
Our society must consume what it produces if people are to work.
The people who own the factories, mines, etc. have the money to buy the goods that the producers can't afford to buy.
In America the CEO's average about 460 times greater income than their hourly workers do, before stock options are counted.
But are these factory and mine owners interested in buying 460 bras, jocks, or 460 tons of coal?
The people who own the means of production increase the price of the products way beyond what they themselves care to consume. Instead, the owners of the means of production "invest" a greater and greater share of their profit, in effect, loaning the producers the cash necessary for them to buy back the very same goods they produce.
The result is the American family is getting flushed down the toilet of ever increasing debt to buy back their own production, IMHO.
My scenario predicts that consumer debt must continue to increase with no end. The only correction possible is for families to go into bankruptcy. In time, as this cycle of debt and bankruptcy continues, it will transfer the assets of the American families to the people to whom they are in debt to, the owners of the means of production.
The long term result will be a two-class society, the creditor class and the debtor class. The middle class, a class of people who were able to hold on to their assets until death without transferring their assets to the creditors through bankruptcy, will have been liquidated, their offspring unable to hold on to the accumulated family assets due to the increased disparity between production and income.
Prov 22:16 He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want.
Steve