Smoke and mirrors. Besides we no longer have Capitalism. and I can prove it with 4 words, "TOO BIG TO FAIL!"

The rich get richer and richer. Eventually they buy the government.

Every once in a while, a fundamental truth finds a simple expression. Thanks for this.

"No one should be able to become so Wealthy that the only thing left to buy is My Government!"

We know.
Trust me, we have noticed.

And he is so right that I am sure it hurts the feelings of the 1% when the curtain is being pulled back.

(Paraphrased) During the Depression we had a strong communist and Socialist movement in this country.

These groups went to Pres. Roosevelt and told hmi that if he didn't solve the unemployment situation that there would be a revolution.

Roosevelt enacted the "New Deal" and got the money for it by taxing the wealthy and corporations at a marginal rate of 94%.

After the war, the conservatives and the business community went to work and demonized the Communists as agents of the Soviet Union. then they demonized the socialists as the same as the Communists. Then they started demonizing the unions.

That has to be understood in terms of where we are today.

"If you look at America, there were all sorts of scams like that back in the 19th century with railroads and the like," I remember one cheerful, bespectacled Russian twentysomething explaining to me. "We are still in the savage stage. It always takes a generation or two for capitalism to civilise itself."

"And you actually think capitalism will do that all by itself?"

"Look at history! In America you had your robber barons, then – 50 years later – the New Deal. In Europe, you had the social welfare state … "

"But, Sergei," I protested (I forget his actual name), "that didn't happen because capitalists just decided to be nice. That happened because they were all afraid of you."

http://www.theguardian.com/commentisfree/2014/may/30/savage-capitalism-back-radical-challenge

can only be understood in a historical context.

Once the Soviet Union was no more, the big American "capitalists" no longer had to demonstrate free market superiority to the American people. Labor's place at the table has been removed.

Corporations no longer have to fear the working class because corporations have effectively captured the government.

Look at the makeup of the supreme court. A majority of the supreme court are clearly working with the objective of corporate governance.

It's the ol' boiling frog scenario at work in our lives.

But the uber rich and corporation are celebrating their recovery daily. How do you like watching them party while you fall further into poverty?

I think the majority of Americans like to watch the party and will continue to suffer unless they are starving.

The laws that go overboard in support of capital formation in the misguided notion that these laws would lead to job creation only ended up transferring money from the working class to the oligarchs in the 1%. The jobs went overseas. On top of that was deregulation that empowered corporate leaders to enter into non-competitive pacts such as the recently exposed pact where nearly all of the tech giants agreed not to recruit talent from the companies they had pacts with -- indeed even reporting back when an employee even applied for an advertised job opening. All of these changes have resulted in a massive explosion in corruption as nobody can ever get enough money to satisfy their egos. Crony capitalism has all of the earmarks/problems of government run economies. Indeed, these cartels run the government so why wouldn't they have the same problems. It is time for this failed experiment to end.

He explains very complex ideas, situations and viewpoints in historical context that the common man can understand. I also like his point of view. I wish some politician would have the guts to take and use his advice because it would give us americans the best chance so far to repair our country.

Stocks are only going up because of Quantitative Easing Infinity. Without the constant infusion of cash from the Fed to Wall St., the whole thing would come tumbling down.

should take the time to listen to Dr Wolff and his lectures/classes that he posts online...

he has a website : http://www.rdwolff.com/

a youtube channel : https://www.youtube.com/user/RichardDWolff/

and is a frequent quest writer for a lot of websites.. including http://www.truth-out.org


He has tons of insightful things to say about the economy and with current issues like Ukraine ..

should be required reading for any lefty

Last edited Sun Jun 1, 2014, 09:47 PM - Edit history (1)

And he flunked basic civics

Rec

I love listening to him.

Corporate Masters via WCBS Newsradio (880 AM) broadcast at 9:30 Wall Street Report that the Recession has "officially ended" seven years ago. And the economy is not contracting anymore. And while it isn't contracting anymore, it just isn't growing as fast as we'd like it.

I sat there in the car, just shaking my head.