Central banks provide the fiat glue for corporate-government fascism. From Jonathan Newman at mises.org:
Robert Reich is on his fifth myth, but so far, he has just been recycling the same progressive talking points in each one. The overall message is that big corporations and the super wealthy wield too much political power and that they shape the law in their own favor, contributing to terrible economic inequality. For Reich, the U.S. economy is a zero-sum game and the people at the top have rigged it so they win and everybody else loses.
His solution is strong labor unions, high taxes on the rich, a high minimum wage, more trust-busting, and government wealth redistribution. He sees the economy through the lens of political power, and so the only solutions he can think of are ones that exploit the power of government to channel more of the fixed pie of wealth to a different group of people. Of course, many of his policy proposals would not even do that but would instead backfire and have unintended consequences that outweigh and confound the intended consequences.
Instead of going through all that, I just want to point out two blind spots. Reich, along with other progressives like Elizabeth Warren, Bernie Sanders, and Alexandria Ocasio-Cortez, never address the root cause of what they correctly diagnose as excessive corporate power over politics. They also don’t see the elephant in the room: the Federal Reserve.
As I mentioned in my response to his second myth, the only reason big businesses reach for state power is because they know that state power can help them. If the government were constrained in such a way that no economic benefit could be gained by some special interest, then businesses wouldn’t seek it. The fact that businesses put millions of dollars into political candidates’ campaigns and into lobbying is explained by the fact that there are billions of dollars to be gained by having a politician in your pocket and laws crafted in your favor.
Robert B. Reeeicch? (H/T-El Rushbo)
Like Cookies Nuland or No More History Fukayama, always hanging around every regime and never any consequence for failure or LOL comments that weren’t intended to be.
Big Pharmakeia and BlackRock know what is best for you comrade, and they will keep you safe.
Is it safe? JA! Vee haf der wayz und meanz of keeping you safe.
The updated School House Rock cartoon meme of the big wad of hundies ($100) and this how a bill gets made into law or where the sausages are made.
He [RBR] just discovered the Golden Rule that the guy with the capital makes all the rules?
Well it’s about F’in time. (s/)
They do call it capitalism but almost all boats get lifted and you can opt out if a Spartan lifestyle doesn’t bother you, and those replacements?
A few welfare crumbs are living large where they come from.
Ain’t that America, something to see. (H/T- J Cougar)