When people who can’t spell say Alexandria Ocasio Cortez needs to learn economics 🙄
What an effin’ snowflake. 😂
In a pair of pre-dawn tweets, the president said Google was silencing conservative media. The company said its searches aren’t politically biased.
Americans have been trained by decades of Cold War propaganda to look for any confirmation that ‘socialism means poverty.’ But in the case of Venezuela and other states not governed by the free market, this cliche simply doesn’t ring true., Bolivarian, Nicolas Maduro, Oil Prices, socialism, Un…
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.
Forbes, of all places, has published a damning piece on the GOP tax bill. This is not economics, this is manifest corruption and the result of selling our politicians to the highest bidder.
“There’s no economic justification whatsoever for a tax cut at this time. U.S. GDP is growing, unemployment is close to 4 percent (below what is commonly considered “full employment”), corporate profits are at record levels and stock markets are soaring. It makes no sense to add any federal government-induced stimulus to all this private sector-caused economic activity, let alone a tax cut as big as this one.”
The GOP tax cut now working its way through Congress will be the start of a decades-long fiscal policy disaster unlike any others that have occurred in American history.