Your last post touches on something I don’t think we’ve talked about yet in the blog, and something I have always believed; the problem with the pure capitalist system is that it only works if there is eternal growth. And that is impossible. Indeed, what is wrong with a company that isn’t growing, but makes enough money to pay decent salaries so that its employees can live good, middle class lives, take a vacation every year, own a modest home, send their kids to college, and enjoy life. Nothing is wrong with that as you say. But in a capitalist world run by the few wealthy shareholders, this kind of world is anathema. Because in a world ruled by the market, the only thing that matters is growth, so that stocks go up, so that the investors can make more money. There is nothing about that which helps the workers; it only helps the shareholders. And remember, the wealthiest 10% or so among us own over 80% of the stocks, so our system is not for Americans, it is for those who already have the money. We don’t need perpetual growth; but all you hear from our corporate media is that we do. How often have you heard worries that housing values haven’t yet risen to pre-crash levels. They shouldn’t rise to pre-crash levels. It was a bubble, remember. Pretend value, which will always crash. It was a gamed system by the wealthy, the banksters. And what happened, we, the poor tax payers bailed them out, and they are again getting million dollar bonuses and not making loans. Meanwhile, the homeowners who were screwed by them with crappy mortgages, they were not bailed out by the banks or the government (the taxpayers; our supposedly representative government would not even bail out its own citizens). (Tied in with all this is the idea that eternal growth is impossible; we don’t have unlimited resources or space on the planet. With the natural resources we have on the planet, even if everything was used as efficiently as possible, we simple don’t have the resources or energy for the entire world to live like America. So it has become a zero sum game, without the possibility of growing forever. Just as Texas didn’t really create a lot of the jobs Perry brags about, but stole them from other states, if we grow our economy it is likely hurting even more some third world country.)
Why is it this way? As I’ve pointed out before, it is corporate power. They have taken over our government. Public Citizen has done great work following the money. Do you think the super committee of 12 is thinking of what is best for the American people with the cuts it will make? Unlikely. The 12 members of the committee have received:
- $41 million: The amount the supercommittee lawmakers have received from the finance, insurance and real estate sector while they have been in Congress
- $900,000: The amount given by JPMorgan Chase, Bank of America and Wells Fargo alone to these members
The take is just as egregious from Democrats as Republicans. And we have yet to see how many hundreds of millions or more they will pour into the 2012 election cycle. Until the country wakes up and tells all the monied interests to go outside and bark at dumb stuff and leave us alone, I’m afraid nothing will change.