Project Volk – Working Class Transformed, Debt as Slavery

The founding economic principles of the modern world rest primarily upon interest on debt.

In the last 116 years, we’ve seen the value of the dollar absolutely tank due to interest on debt and inflation.

In the last 10 years we’ve seen out debt explode at completely unsustainable levels.

From the peak in 2008 until now, earnings grew by 120%. But the debt that finances these earnings grew by 264%. That is a big increase in leverage. Or, alternatively, we might say that these 2000 companies are consuming their investors’ capital.

To put this in perspective, in 11 years these companies collectively added $387B in debt. But they grew earnings by only $98B. The marginal productivity of this debt—here used to mean change in EBITDA per dollar of added debt—is $0.25. This not only makes these companies more brittle, more vulnerable to a downturn.

This cannot go on.

At Project Volk, we recognize the fragility of our current system. The question is not if but when a currency collapse occurs. We propose to side step the issues involving currency and interest and debt entirely and base our estimations of value on labor.

It has been a long time since the working class commanded the lion’s share of the value of their labor, and we intend to ensure that.

First, by serving our customers, our community, our nation, with high quality On Demand Auto Restoration, expanding eventually to encompass Mobile Vehicle Repairs as well.

Second, by ensuring that the workers are paid the value of their labor.

#volk #volkapp #mechanic #labor #workingclass #workers #people #future #getvolk #wander #corporate #world #legal #knights #team #hierarchy #family #glad #build #tradition #aesthetic #catholic

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