The political hypocrisy of crony capitalism – touting market capitalism while making taxpayers fund corporate welfare – is a rare and unfortunate case of bipartisan consensus. Republicans openly embrace it, but many Democrats also fall prey to government-guaranteed corporate capitalism when they believe it to be politically expedient.
Pankaj Mishra, author of Age of Anger: A History of the Present, discusses the poisoning of civil society and undermining of political liberty that is fueling “a global turn to authoritarianism and toxic forms of chauvinism.” RT Correspondent Anya Parampil looks at how the New Deal saved the U.S. from political anarchy.
Crushing regulations are driving small banks to sell out to the megabanks, a consolidation process that appears to be intentional. Publicly-owned banks can help avoid that trend and keep credit flowing in local economies.
All income growth of the past few years is going to the top 10 percent, without paying more in taxes. IMF says that higher taxation of the top earners would not impinge on economic growth, explains economist Michael Roberts.
Pollution causes far more deaths than tobacco, infectious disease or war, and causes 4.6 trillion dollars of economic damage per year, according to a major new study published in the British medical journal The Lancet.
The policy of guaranteeing every citizen a universal basic income is gaining support around the world, as automation increasingly makes jobs obsolete. But can it be funded without raising taxes or triggering hyperinflation? In a panel I was on at the NexusEarth cryptocurrency conference in Aspen September 21-23rd, most participants said no. This is my rebuttal.
THE SOCIALIST German playwright Bertolt Brecht once wrote that “famines do not simply occur; they are organized by the grain trade.”
A similar observation could be made about Puerto Rico today. Replace “famine” with “natural disaster,” and the “grain trade” with “U.S. colonialism,” and you have a succinct summation of the human disaster that is unfolding on the island today.
The pressures of modern life are colossal; for young people — those under 25 years of age — they are perhaps greater than at any other time. Competition in virtually every aspect of contemporary life, a culture obsessed with image and material success, and the ever-increasing cost of living are creating a cocktail of anxiety and self-doubt that drives some people to take their own lives and many more to self-abuse of one kind or another.
President of the Republic of Namibia, Dr. Hage Geingob, discusses how his country, which achieved independence from neighboring apartheid South Africa in 1990, is now fighting for justice and economic emancipation from global banks, corporations and foreign governments seeking to extract the developing country’s natural resources.
The monster of economic waste—over $7 trillion of dictated stock buybacks since 2003 by the self-enriching CEOs of large corporations—started with a little noticed change in 1982 by the Securities and Exchange Commission (SEC) under President Ronald Reagan. That was when SEC Chairman John Shad, a former Wall Street CEO, redefined unlawful ‘stock manipulation’ to exclude stock buybacks.