You and I are living in a dictatorship
- You and I are living in a dictatorship
Last week the U.S. Government bought General Motors for 30 billion dollars, on top of the 20 billion or so that had already been invested. That transaction occurred on a day that the entire market capitalization of General Motors was less than 1 billion dollars. The government could have purchased General Motors on the open market for LESS THAN ONE BILLION DOLLARS. THE GOVERNMENT SPENT MORE THAN 30 TIMES FOR GENERAL MOTORS THAN IT WAS WORTH.
One might ask oneself, "Where did this money go?" But why bother? We know where the money came from - the public treasury. And we know where it went - to the friends of the Democratic-Republican Party.
After spending 30 times its worth for this gem of manufacturing competitiveness, our government then gifted a portion of the company to the union and to the bondholders. One might ask again, since the value of the company was less than a billion dollars, why didn't the union buy the company? Why didn't the bondholders buy the company? But why bother? The answer is manifest: General Motors cannot operate any more without government subsidies. Many of the job cuts are PERMANENT. The idea of "saving GM" starts out as an effort to save domestic manufacture (and good paying jobs) but it turns out that the reborn GM is a global company that will manufacture in Asia and (try to) sell in the U.S.
All of the above occurred without any bill being passed in Congress. A major American corporation nationalized, fifty billion dollars raided from the treasury, workers deprived of negotiated benefits, and all for nothing eventually. All without a vote, negotiated secretly by unelected officials, people from the private Federal Reserve Bank and shady Wall Street types. When things finally do get to Congress, Congress does what it is paid to do. Isn't that clear to everyone?
No this is not just another Obama bashing post. The dictatorship is bigger than Obama. It is an economic dictatorship, a plutocracy. We are living in an era of RUNAWAY CAPITALISM and our lives will not get better until RUNAWAY CAPITAL HAS BEEN REINED IN.
We need reasonable tariffs on imported manufactured goods to protect our manufacturing sector. We need reasonable tariffs on imported oil to stimulate domestic oil production and the development of a domestic alternative fuels industry. We need higher taxation of corporate profits to balance the corporate use of our commons. Corporations must be chartered to serve some public good, (not just their shareholders) or their right to exist should be terminated. Although corporations claim the dubious status of "person" if any real human acts ONLY in their own interest we call him a SOCIOPATH. We must have a health care system that serves everyone equally. We therefore must eliminate the health insurance racket. A fair and accessible health care system will boost our economy immediately, not to mention make our lives better. We need to raise the minimum wage, that is so far a broken promise for our working poor. Raising the minimum wage will stimulate the economy immediately. We need to move to a Multiparty Democracy. The Democratic-Republican party is hopelessly corrupt. The two party system is hopelessy broken.When you have SUFFERED ENOUGH you will DEMAND SOME CHANGE and YOU WILL GET IT.have a peaceful day,Bill