Damn straight. Climate change isn’t due to individual actions as the market worshipers want you to believe. It is due to an economic system that puts profits above all else
History repeats itself. This is Obamas legacy on Wall Street. An humongous asset bubble, blown up from quantitive easing from the Fed, unraveling due to toxic derivatives and leveraged instruments.
Obama didn’t break the banks up or regulate the derivative market. Now we will all pay the price again. If you have a 401k or money in the market, I suggest you move it to a safe place. Things are about to get bad
Jim Cramer explains how the market-wide sell-off is being exacerbated by obscure volatility trading vehicles.
“American ISPs charge some of the highest prices in the world in exchange for awful service. Your money isn’t being used to build better infrastructure, but to make the rich even richer: Comcast’s CEO earned $33m last year. Internationally, we’re an embarrassment: the country that invented the internet ranks tenth in average connection speeds, far below South Korea and Norway. And that number doesn’t capture the significant disparities in service that disproportionately affect poor and rural communities.”
Internet providers seized a tool built at public expense, privatized it, and sold it back to us for profit. Repealing net neutrality will only make it worse
We get a lot of free market bs from the fascist Republicrooks constantly, so everytime a major corporation gets in trouble why do taxpayers have to bail them out or clean up their messes with Public taxpayer dollar$? I thought that was the ‘private’ sector and they were on their own? And they blame the guys getting $100 bucks in food stamps to feed their families because their crummy job with the corporations do not pay enough for them to live on. Now shouldn’t that be classified as corporate welfare?
“FREE MARKET: To Classical Economists, an economy free of “land rent”, usurious banking practices, and monopolies in private hands. But as Finance Capitalism has superseded Industrial Capitalism, its has inverted “free market” rhetoric to mean a market free for rent extractors to obtain land rent, natural resources rent, monopoly rent “free” from of Government Taxation and Regulation. This inverted re-definition depicts a free market as one free for the financial and propertied classes to subject the economy to a network a extractive tollbooth fees. Such a “free-market” has become double-think term for the path to Neo-Feudalism, financialisation and kindred rentier policies”
~ Michael Hudson, J is for Junk Economics.