Disinvestment in productivity is linked to world wide overcapacity in production and the consequent disparity between the rate of profit in production vs. the rate of profit from the FIRE (Finance, Insurance, and Real Estate) sector. Government policy — zero interest rates for large capital borrowers, massive tax reductions for corporations and the wealthy — makes speculative asset inflation an attractive alternative to productive investments.
Disinvestment in manufacturing is linked to the decision of industrial manufacturing executives to invest a growing amount of capital in foreign manufacturing (Foreign direct investment ) and automation systems that would allow for the outsourcing of factories to other countries, while reducing the skills needed by manufacturing workers. So, instead of investing in domestic production for foreign markets, major industrial firms began producing goods abroad for import back into the United States market.
The money for these things comes from the rich clawing back our wages, and our assets/property (housing) with rising indebtedness to the banks (H/H private-sector debt), and massive tax giveaways to them (Trickle Down).
Welcome to the Neoliberal Rentier economy, made possible by state intervention (what James K. Galbraith calls the “predator state”) in the interests of the Patrimonial Rentier class rather than “market competition” and the laboring classes.
Sorry Southerners, we’ve tried to help you for over a century now. All we wanted was a good education system, universal healthcare, and a clean and prosperous future for all of us – you didn’t want that. We pay the vast majority of taxes, and all we get is endless warfare, culture wars, and science denial from you. Sorry to do this, but we’re moving in with Canada.
Sincerely, thoughtful Americans.
There once was a man who ran for president, promising to bring great change to our country.
He said he would hold the bankers accountable, but instead he packed his cabinet with them and catered to them. He promised to raise taxes on the wealthy, but he then cemented their tax cuts in place. He would renegotiate previous trade deals that hollowed out the American manufacturing base, but instead he appointed corporate hacks to streamline outsourcing.
He would crack down on the pharmaceutical monopolies who were inflating drug prices and gouging consumers on life saving devices. He would end our unjust wars that were draining our treasury and instead invest in our decrepit infrastructure. Instead he expanded the wars. He promised to be strong on civil liberties, but he attacked journalists and jailed whistleblowers. He sat by as voting rights were attacked, protestors were attacked, and the climate was attacked.
Despite all of this, his loyal followers still blindly pledged allegiance to him. So my question to you is, am I talking about Donald Trump or Barack Obama?
The protesters should have just harassed underage girls and then ran for Senate. They’d be fine today
“The prosecution will rest its case on Monday. So far, the #J20 trial hasn’t garnered the round-the-clock media coverage of, say, one of Trump’s hallucinogenic tweets, but its principles are just as nauseatingly surreal. Apparently, being at a protest where a window is broken means you broke the window yourself, and breaking a window is a crime worthy of 60 years in a cage.”
Strange scenes from what is surely one of the most insane courtrooms in America right now.
“Blunt, cautionary note to progressives: It’s not 1974 and Trump isn’t going to be impeached by this or perhaps any future Congress as currently constituted. The good guys aren’t likely to prevail. So, curb your enthusiasm. Look, if the rule of law or decency existed in the US’s capital, Trump would already have been impeached.”
Trump isn’t going anywhere, even IF he loses in 2020….
Trump isn’t going to be impeached by this or perhaps any future Congress as currently constituted.
Nomiki Konst calling out the DNC on their opaque budget practices. 🔥🔥🔥