A nation with a capitalist economy can, under the proper leadership, facilitate democratic freedoms and create a high standard of living. However, with the kind of leadership the U.S. has suffered under for several decades, capitalism becomes a tyranny in which the moneyed class loots the nation, while the working class suffers lower wages, higher prices, decreased constitutional liberties, and chronic unemployment. This latter kind of exploitative economy is most accurately called "vulture capitalism," and we are seeing it now in full view with the fascistic tactics of the cabal.
The U.S. is a "consumer society" in which workers must buy and sell to live. Every part of life becomes a commodity, something to be bought and sold, whether it is a computer, the latest automobile, sporting or technological skills, sex, or our ability to work. In essence, capitalism is "generalised commodity production," the transforming of all life into a "thing," something to be owned or traded.
Vulture capitalists call this commoditization of human life the "free-market-system" and force it on nations throughout the world. When this "system" fails, the vulture capitalists send in their carefully-selected Harvard economists to see that the nation's financial ruin is complete. In 2001, Argentina was the last in a long list of nations which have fallen prey to the ravages of vulture capitalism: currency-manipulation, asset-stripping, and factories and products sold at pennies on the dollar.
There are important distinctions between the various types of capitalism:
Vulture capitalism is a form of finance capitalism, a hydra-headed monster:
"For globalization to work, America can't be afraid to act like the almighty superpower that it is. The hidden hand of the market will never work without a hidden fist. McDonald's cannot flourish without McDonald-Douglas, the designer of the F-15, and the hidden fist that keeps the world safe for Silicon Valley's technology is called the United States Army, Air Force, Navy and Marine Corps."
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Our federal and state governments have been taken over by people who are able to amass multi-million dollar election campaign funds. Either wealthy persons run for office themselves or they "buy" their own candidates. These elected officials then carry out the programs of those who put them into power.
The most visible example of this was Enron's chairman, Ken Lay, giving $2 million dollars to the Bush campaign and then allowed by the Bush administration to manipulate the energy markets to make billions. Even when Enron went under, Ken Lay for a while still had his own private billions he'd taken from the company. Enron's 21,000 employees lost most of their retirement savings because their pension accounts were stuffed with now-worthless Enron stock, and many lost their jobs as well.
If you are an American multinational corporation, such as GE, Chrysler, or Boeing, or if you are a savings & loan, bank, or financial institution, then the federal government will see that
your losses are covered with American taxpayers' money.
The American government will also see to it that an almost unlimited number of immigrants are allowed into the country, to keep wages at as low a level as possible. This policy of unrestricted immigration creates a very dangerous situation in America and Europe, aside from
lowering wages.
Immigration into the U.S. reached its peak in 1991, with 1,827,167 immigrants allowed in and has been steadily decreasing as the American economy has fallen into recession.
1991 | 1,827,167 |
1992 | 973,977 |
1993 | 904,292 |
1994 | 804,416 |
1995 | 720,461 |
1996 | 915,900 |
1997 | 798,378 |
1998 | 660,477 |
The Immigration Act of 1990 exclusively assisted American multinational corporations, providing them an abundant supply of foreign workers willing to work for the lowest possible wages. The Act had been sold to the American public as being necessary because there was said to be a shortage of skilled workers in the science professions. On the contrary, between 1990 and 1993, according to the Bureau of Statistics, 146,000 engineering jobs disappeared, as employment fell from 1.862 million to 1.716 million.
Corporate profits reached a twenty-five year high in 1995 while the median wage earner's pay shrank in real terms, by one percent a year, every year from 1989 through 1995.
While the sales income of the world's 500 largest multinational corporations have grown seven fold, worldwide employment in these global firms has remained virtually flat since the early 1970s, approximately 26 million people.
While exports to Mexico have increased, from $41.5 billion in 1992 to $46.2 billion in 1995, an
increase of 11.3%, imports from Mexico rose five times faster, going from $50.5 billion in 1992 to $62.4
billion in 1995, an increase of 54%.
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Updates
Company
--- --- ---
General Electric Chairman
--- --- ---
$39.8 million
Apple Computer
--- --- ---
$23.3 million
Company
--- --- ---
Morton International
--- --- ---
$25.9 million
DSC Communications
--- --- ---
$23.8 million
Parametric Technology
--- --- ---
$18.3 million
Wells Fargo Bank
--- --- ---
$16.6 million
Colgate-Palmolive
--- --- ---
$15.7 million
Compaq Computer, Senior VP
--- --- ---
$15.2 million
Between 1980 and 1992, the top 1% in terms of share of the nation's income increased their
share from 8% to 14%.
The next 9% only increased their share of the nation's income from 24% to 25%.
The bottom 90% (those making less than $65,000) saw their share of the nation's income decrease from
68% to 61%.
The U.S. government, the "American" multinational corporations, and the American banks told the
hapless U.S. voters that passing the North American Free Trade Agreement (NAFTA) would
result in fabulous increases in our exports to Mexico. WRONG!!!
It is at times like these that we should remember the admonition of some of our past Presidents, such as Eisenhower, who warned about the military-industrialist complex, and John F. Kennedy, who warned that American Presidents should not allow themselves to be unduly influenced by the Joint Chiefs-of-Staff.
What Can Be Done