Wednesday, June 15, 2016

Fascism Is A Bipartisan Affliction
In The United States
Dr. Ron Paul*:
"If neoconservatives and progressives truly understood fascism, they would stop using the word as a smear term. That is because both groups, along with most political figures and commentators, embrace fascist ideas and policies .. Fascists use regulations, mandates, and taxes to control business and run (and ruin) the economy. A fascist system, then, is one where private businesses serve politicians and bureaucrats instead of consumers. Does the modern American economy not fit the definition of fascism? Fascism benefits big businesses that can afford the cost of complying with government regulations, unlike their smaller competitors. Big businesses, which have more political influence then entrepreneurs or small businesses, also significantly benefit from government subsidies. In order to maintain their power, big businesses finance the 'deep state' — the network of lobbyists, journalists, think tanks, bureaucrats, and congressional staffers who work behind the scenes to shape government policy .. The true path to real free markets, peace, and individual liberty starts with rejecting the bipartisan authoritarianism in favor of the non-aggression principle."
LINK HERE to the essay

1 comment:

Anonymous said...

New Book: “The Business of America Isn’t Business Anymore.” It’s Tricked Up Financial Engineering.
By Pam Martens and Russ Martens: July 15, 2016
Rana Foroohar has written the equivalent of a public guide to why Americans remain mad as hell at Wall Street and Washington and why a lot worse than a political revolution may ensue if the plutocrats don’t wake up soon. Foroohar is an assistant managing editor at Time magazine and its economics columnist. In “Makers and Takers: The Rise of Finance and the Fall of American Business,” the author lays out a number of undeniable truths, which she backs up with footnotes and facts, such as: “the business of America isn’t business anymore.” That’s given way to financial engineering tricks like loading up a company’s balance sheet with billions of dollars of debt in order to prop up the share price with buybacks of the company’s own stock.

Foroohar, who has been a financial journalist for 23 years, correctly concludes that Wall Street has come to “rule” rather than to “fuel” the real economy. This has created a “dysfunctional financial system” that is doomed to another collapse, “taking us all down with it,” unless critical repairs are made soon. Foroohar maps out exactly what those repairs must be in her last chapter.

The author gives a litany of examples to show how “finance has transitioned from an industry that encourages healthy risk-taking, to one that simply creates debt and spreads unproductive risk in the market system as a whole.”


The flip slide of this financial trickery (she calls it “financialization’) says Foroohar is that “our economy limps along in a ‘recovery’ that is tremendously bifurcated. Wage growth is flat. Six out of the top ten fastest-growing job categories pay $15 an hour and workforce participation is as low as it’s been since the late 1970s. It used to be that as the fortunes of American companies improved, the fortunes of the average American rose, too. But now something has broken that relationship.”
In a word, that “something” is insatiable Wall Street greed where the people’s savings deposits that President Bill Clinton allowed Wall Street to manage through the repeal of the Glass-Steagall Act are being used for speculative trading and financial engineering instead of loans to help businesses thrive.

If the majority of Americans don’t catch on quickly to the fact that the Dodd-Frank financial reform legislation has failed to meaningfully correct America’s systemically dysfunctional financial system, the author worries that an ugly revolution may result.

http://wallstreetonparade.com/2016/06/new-book-the-business-of-america-isnt-business-anymore-its-tricked-up-financial-engineering/