“Alan Greenspan, former chairman of the Federal Reserve, said the global economy’s inability to produce goods and services efficiently is going to cripple the ability to pay for pensions and health programs for the elderly. “We have a global problem of a shortage in productivity growth, and it is not only the United States but it is pretty much around the world.” ~ Alan Greenspan’s newest round of lies about the financial coup d’etat as reported by Fox News
By Catherine Austin Fitts
Productivity growth is indeed slowing. Two essential questions about this problem are why and what can be done about it.
One reason why is that productivity growth has been focused on making our military industrial complex more powerful, our corporate production more efficient and some investors richer, while ignoring the various economic steroids used to generate that increase in “productivity”: destruction of the natural environment, explosions in personal and government debt and debasement of our civic and cultural life and institutions. We are calculating output while ignoring what is happening in the planetary balance sheet.
Official calculations of productivity growth also ignore the enormous sums of money, time, and energy being spent to control and destroy human productivity systematically – from the tactics of surveillance and disaster capitalism to “divide and conquer politics.” And let’s not forget the $40 trillion disappearing in the financial coup d’etat ending in the bailouts, more than $1 trillion spent annually on military and weaponry, as well as the explosion of prisons and funding for police states.
Nor is “productivity growth” necessarily shared with the people who create it. Since 1948, while productivity growth in America has increased by 254%, labor hourly compensation has increased by merely 113% having essentially flat-lined since 1973.
Growth of Real Hourly Compensation for Production and Nonsupervisory Workers Versus Productivity (1948–2011)
Is there human incentive to increase corporate productivity? There is not, because increasingly too many large institutions and businesses have a negative total economic return. At the heart of the matter – (1) we need to realign “return to shareholders” with “total economic return” in a manner that produces significantly more wealth. And (2) we need government finances to respect the laws and regulations related to financial management. Indeed, we have no choice now that the debt growth model is finished. We can’t use more government debt to fund corruption and the externalities of unsustainable behavior.
For the 2nd Quarter Wrap Up, Productivity, Prosperity & the Popsicle Index, I will review the existing discussion about stalling productivity growth. I will discuss how it relates to growing inequality, the insufficiency of retirement systems, and the explosive changes underway as a result of robotics and artificial intelligence.
There are solutions, but they all require a clear picture of where we are now and our possible futures. Which means we need a way to see through and to reject the disinformation that corporate media and special interests are spinning.
I will post my audio discussion from Zurich, Switzerland on Thursday. We will publish the written discussion in the Second Quarter Web Presentation in August after my return to the States.
Whether you are one of those people who wants to “Make America Great Again,” or you live half way around the world from the United States and you want to make your town or country great too, this presentation has critical information to help your vision come true.
There is no Money & Markets this week. Post and e-mail your questions and I will make sure to answer them in the first week of August.
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“To truly know the world, look deeply within your own being; to truly know yourself, take real interest in the world.” ~ Rudolf Steiner
By Catherine Austin Fitts
I just spent three fascinating hours over lunch today here in Zurich with Thomas Meyer, publisher of Perseus Publishing in Basel Switzerland.
Perseus has an extensive list of books on Rudolf Steiner and Anthroposophy. Here is a link to their collection available in English. Perseus also publishes a monthly magazine, The Present Age, dedicated to the advancement of Spiritual Science.
I was first inspired to read Rudolf Steiner’s works by my good friends Christopher and Martina Mann, who founded the Michael Fields Agricultural Institute in East Troy Wisconsin. The Institute has helped to spread biodynamic farming in the United States. The challenge was that Steiner’s complete works are extensive – where to find the time to read so much?
That problem was solved by Ann Watson of Salt Spring Island in British Columbia, who loves to read Steiner and offered to read to me as I drove across America. I have sped across thousands of miles of American interstates in the moonlight accompanied by Ann and her dramatic readings of Steiner’s lectures.
Ann is a great admirer of Thomas Meyer and has insisted for years that we should meet. As I am back in Switzerland, meet we did. What a memorable occasion! Thomas is a remarkable human – teacher, intellect, student and lover of life. It was like having lunch with a living library. I am glad I did not have an appointment following because we talked half the afternoon away.
I am hoping to have Thomas on the Solari Report this fall to help our subscribers learn more about Steiner and how Steiner’s teachings can help us successfully navigate the world today. So stay tuned!
And compliments to the marvelous staff at the Quaglinos Cafe at Hotel Europe. Nothing supports superb conversation like a beautiful cafe with fine cuisine!
“Don’t worry if there is a conspiracy. If you are not in a conspiracy, then you need to start one.” ~ Solari Report motto
By Catherine Austin Fitts
We conspired over lunch in the outdoor cafe. The sun was so strong, I bought black bowlers in the Museum store. We looked quite charming!
Then we went indoors and conspired for a few hours more until I had to return to the airport to fly back to Zurich.
The discussions were serious, inspiring, heated, interspersed with negotiations for what’s next. They shall remain confidential. The proof, however, is in the pudding. So let’s see what juicy events unfold as a result…
A tip of the hat to the great city of Amsterdam!
Recommended Place to Visit
A US-developed weapon system that strikes the atmosphere with a focussed electromagnetic beam may cause global warming, the government today said and acknowledged that climate change is likely to reduce the yield of major crops like wheat and maize in India.
“The US has developed a type of weapon called High Frequency Active Auroral Research Programme. HAARP strikes the upper atmosphere with a focussed and steerable electromagnetic beam,” Environment Minister Anil Madhav Dave told the Rajya Sabha in a written reply.