I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.
How many Americans know that America has privatized prisons, the shares of which are listed on stock exchanges? Free market ideologues provided cover for corrupt Republican politicians to divert taxpayers’ hard-earned money to favored political insiders with the false claim that prisons run by private owners are more cost effective. A Mother Jones reporter took a job as a private prison guard and found that private prisons are places of unimaginable violence.
Trump and Hillary have come out with the obligatory “economic plans.” Neither them nor their advisors, have any idea about what really needs to be done, but this is of no concern to the media.
The presstitutes operate according to “pay and say.” They say what they are paid to say and that is whatever serves the corporations and the government. This means that the presstitutes like Hillary’s economic plan and do not like Trump’s.
I, Michael Hudson, John Perkins, and a few others have reported the multi-pronged looting of peoples by Western economic institutions, principally the big New York Banks with the aid of the International Monetary Fund (IMF).
The re-enserfment of Western peoples is taking place on several levels. One about which I have been writing for more than a decade comes from the offshoring of jobs. Americans, for example, have a shrinking participation in the production of the goods and services that are marketed to them.
Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?
The Obama administration has offshore outsourced Obamacare. They made Accenture the lead contractor for the website healthcare.gov. The contract is estimated to be worth $90 million and the original contractor, CGI Federal, is out.
Remember how outsourcing was shoved down the throats of the American people by claiming it would save money and was more efficient? Guess what, not only is costing more, the services now provided are dismal failures. A new report, Out of Control describes the abysmal state and consequences of outsourcing public services.
In This Crisis It's Not Stupidity, It's the Money: Three Relevant Laws
There are three basic laws about discussion, especially political discussion, that are useful in the contentious government situation we have today. The third of these laws is especially relevant because it warns us that what is happening in Congress is not a passing aberration, but in fact a threat to democracy in our country.
There is a war going on and it is against the U.S. worker. Tech companies have formed lobbyist groups, phony think tanks and social media traps. CEOs luncheon with the President of the United States, whispering their demands in the President's ear and he heartily obliges them Tech companies even wrote legislation, which was promptly passed by the Senate Judiciary committee under the guise of Comprehensive Immigration Reform.
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