If the power elites didn’t need the consent of the public to rule, they wouldn’t have to lie constantly about their reasons for their wars on everyone. its 1984 but you don't know it because you haven't recognized who big brother is yet. this blog was begun to save sending emails of potential interest and post it all in one place like a buffet.
Tuesday, July 24, 2018
For two decades the offshoring of American jobs to Asia and Mexico has destroyed the careers and incomes of tens of millions of US citizens, the pension tax base for state and local governments, the federal tax base for Social Security and Medicare, and the opportunity society that once characterized the United States of America.
The rise in corporate profits that resulted from substituting foreign labor for American labor rewarded corporate executives and boards, hedge funds, large shareholders, and Wall Street with profits at the expense of the American population and the US economy.
The low rates of economic growth claimed since the alleged recovery from the 2008 financial crisis that resulted from financial deregulation, a huge mistake made by politicians in service to capitalist greed, is based entirely on under-measuring inflation. Allegedly, Americans have suffered no inflation for a decade, but anyone who buys anything knows that that is a lie. What jobs offshoring did is to destroy the growth in productivity based US consumer purchasing power that drove the US economy. In short, the short-sighted executives, boards, and Wall Street have impaired aggregate demand in the US.
The corrupt Federal Reserve under the incompetent Alan Greenspan ramped up consumer debt to take the place of the missing growth in consumer income. This works until consumers cannot carry any more debt. The subsequent Federal Reserve chairmen have kept the house of cards standing by pumping trillions of dollars into the prices of financial assets.