Instead of championing solar, wind and conservation energy, the GOP (Greedy Old Party) is championing the skyrocketing profits and prices for the omnicidal fossil fuel and atomic power companies.
It is exceedingly rare for a major congressional committee to hold hearings on “corporate greed” leading to corporate profiteering and surging prices on consumer goods. On April 5, 2022, Senate Budget Chairman, Senator Bernie Sanders (I-VT) chartered uncensored territory on corporate avarice with a lead witness, former Secretary of Labor, Robert Reich, now a professor at the University of California, Berkeley.
The biggest business in America is stealing and defrauding the federal government, Uncle Sam and you the taxpayers. In terms of sheer stolen dollars, the total amount is greater than the annual sales of Amazon and Walmart over the past two years.
RT on Oct 7, 2020
It remains unclear who will be the occupant of the White House next January. What can be easily predicted is the state of the economy for tens of millions of citizens. It appears what is called a K-shaped recovery is permanently dividing the country into the haves and have-nots. And this seems to be acceptable for those who are the haves!
The global economic crash that we’ve entered into is going to be more disastrous for capitalism than was the case for the Great Depression. This is because now, the system has no way to stabilize itself amid the widespread impoverishment and loss of profits that will ensue. After the Great Depression, the United States and the other core imperialist countries moved towards welfare statism, neutralizing the class conflict that had been arising amid the crisis. But no such fix will come during this even greater shock to the system.
The Federal Reserve (the Fed) – the United States’ version of a Central Bank – is a strange duck. It is the U.S. government’s most powerful regulatory agency. It, after all, regulates money and interest rates. Yet, its budget comes entirely from the banking industry and relationships with the financial industry. So Congress, which appropriates money for all other federal agencies, has little leverage over the Fed’s operations.
The New York Times screamed its headline — “In 1997, Apple was 90 Days from Going Broke. On Thursday [Aug. 2, 2018], it became the first publicly traded American company to be valued at… $1,000,000,000,000.” The first trillion dollar company!
Peking University, School of Marxist Studies
May 5-6, 2018
Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and doing business. That is the main reason why they are losing their export markets and becoming de-industrialized.
Have the Republican greed-hound toadies gone too far? How much are the American people going to take before they replace the reckless Republicans in the next election? Low and middle-income Americans are bracing for the likely passage of a Trump-supported tax bill that deviously redistributes even more of the people’s income to the richest one percent (including a big tax cut for Trump) and the unpatriotic giant corporations.
For decades, the factors that decided what noteworthy stories would not find their way into print or on the air came down to the media’s ignorance, laziness or from advertising restraints. How else can one explain the many years that passed before the tobacco, auto and junk food industries became the subject of regular consumer reporting? For too long, the explosive material for good journalism in these and other areas had remained hidden in plain sight.
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.
Imagine you are a shareholder in a big company and the top executives are sitting on huge amounts of cash and are not interested in putting it to work through productive capital investments, research and development, reducing company debt or paying employees a higher wage. What would you want done about it? Since you and other shareholders are the owners of the company, you’d likely say “give us back our money in cash dividends.”