georgephillip
Diamond Member
"'Karl Marx got it right, at some point capitalism can destroy itself,' said Mr. Roubini, in an interview with The Wall Street Journal. 'We thought markets worked. They're not working.'
Markets are mostly places where rich people (and others) invest their money. Curtailing labor laws and slashing social programs help guarantee a profitable return on investors' money.
If we are entering a new era in global capitalism (one in which the US dollar no longer serves as the world's reserve currency?) the 2008 recession is not temporary.
The corporate elite will demand a restructuring of the social contract which means past assumptions regarding wages and social programs must be destroyed. One alternative is to tax rich corporations and individuals at the same rates they paid forty years ago, or more, and use that money to fund a massive jobs program that puts millions of Americans back to work.
Tax the rich or continue paying them interest on money they loan to your government?
Tough choice.
Capitalism's New Era | Truthout
Markets are mostly places where rich people (and others) invest their money. Curtailing labor laws and slashing social programs help guarantee a profitable return on investors' money.
If we are entering a new era in global capitalism (one in which the US dollar no longer serves as the world's reserve currency?) the 2008 recession is not temporary.
The corporate elite will demand a restructuring of the social contract which means past assumptions regarding wages and social programs must be destroyed. One alternative is to tax rich corporations and individuals at the same rates they paid forty years ago, or more, and use that money to fund a massive jobs program that puts millions of Americans back to work.
Tax the rich or continue paying them interest on money they loan to your government?
Tough choice.
Capitalism's New Era | Truthout