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According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Friday, January 4, 2013

Predators Like Goldman Sachs

Nothing else has focused our minds so much as the financial crisis has.  We know we need to fix our attention on things that are broken and we know things need to be fixed.  But globalization seems to have peaked at a time when the world is enveloped in predation, greed and neoliberalism. 
Definition of Neoliberalism:  "An approach to economics and social studies in which control of economic factors is shifted from the public sector to the private sector.  Drawing upon principles of neoclassical economics, neoliberalism suggest that governments reduce deficit spending, limit subsidies, reform tax law to broaden the tax base, remove fixed exchange rates, open up markets to trade by limiting protectionism, privatize state-run businesses, allow private property and back deregulation."  (Investopedia)
The article below from The Automatic Earth points out the problems of population growth, climate change, runaway pollution and financial predation of the economy.

The author points to the human predilection for ignoring problems and that ability to ignore is the biggest problem of all!  For example, the decision by government (including politicians, justice officials at all levels and the President) not to investigate, not to prosecute, not to bring to justice and not to incarcerate all the predator executives who have made the financial system a morass of rotten fraud and corruption that threatens to bring more chaos and penury to the majority of people in the world--starting with Greece and ending with--ourselves.

Quote of the Year.  And the Next.
By Raul Ilargi Meijer - The Automatic Earth
. . . .
Our third big global problem is finance slash money slash economy. It not only has the shortest timeframe, it also invokes the highest level of denial and delusion, and the combination may not be entirely coincidental. The only thing our "leaders" do is try and keep the baby going at our expense, and we let them. We've created a zombie and all we're trying to do is keep it walking so everyone including ourselves will believe it's still alive. That way the zombie can eat us from within.

We're like a deer in a pair of headlights, standing still as can be and putting our faith in whoever it is we put in the driver's seat. And too, what is it, stubborn, thick headed?, to consider the option that maybe the driver likes deer meat.

Our debt levels, in the US, Europe and Japan, just about all of them and from whatever angle you look, are higher than they've been at any point in human history, and all we've done now for five years plus running is trust a band of bankers and shady officials to fix it all for us, just because we're scared stiff and we think we're too stupid to know what's going on anyway. You know, they should know because they have the degrees and/or the money to show for it. That those can also be used for something 180 degrees removed from the greater good doesn't seem to register.

We are incapable of solving our home made problems and crises for a whole series of reasons. We're not just bad at it, we can't do it at all. We're incapable of solving the big problems, the global ones.
We evolve the way Stephen Jay Gould described evolution: through punctuated equilibrium. That is, we pass through bottlenecks, forced upon us by the circumstances of nature, only in the case of the present global issues we are nature itself. And there's nothing we can do about it. If we don't manage to understand this dynamic, and very soon, those bottlenecks will become awfully narrow passages, with room for ever fewer of us to pass through.
As individuals we need to drastically reduce our dependence on the runaway big systems, banking, the grid, transport etc., that we ourselves built like so many sorcerers apprentices, because as societies we can't fix the runaway problems with those systems, and they are certain to drag us down with them if we let them.

Read the whole article here


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