Wednesday, January 12, 2011

Corporate Communism

Dylan Ratigan has a good rant in the video below. Free market pain and adjustment for most of us; socialism, subsidies, and protection for those at the top. 

It should be so blatantly obvious that financial interests have captured our economy and government. I hold special contempt for teabaggers who had ample opportunity to see who the real perpetrators have been. Just to be clear on this; the evidence is pretty freakin obvious that the Republican establishment created the teabagger movement. The money, and there was lots of it, came from various sources, but mostly from Wall Street. And the teabaggers themselves have been too stupid, too misinformed, and so ideologically blind that they not only offer completely incoherent, contradictory, and intellectually infantile demands, they have also completely missed the overwhelming role that Wall Street, conservative economic doctrine, and Republican politicians have played.

Yet teabaggers and other shallow voters have become angry with America's difficulties only since Obama took office. Tip to the clueless; it ain't the unions, the public sector, teachers, Muslims, or Obama's black friends that have put the US and the middle class in the current bind.  Do your brain a favor and read some economic history.

Take a look at the chart below the video. If I had to choose one data set to show what has happened to the US in recent decades, this would be it.

This chart indirectly reveals how nearly all growth since about 1980 has gone to corporations. The data directly show that for a generation, corporate America has had the ability to pay much higher wages, but instead has pocketed nearly all productivity gains. Corporate profits are at record levels, but the American middle class is hurting not because taxes are too high, but because our wages are too low.

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