"Monopolies and near monopolies have always been a source of economic power—from John D. Rockefeller at the beginning of the last century to Bill Gates at the end. Lax enforcement of anti-trust laws, especially during Republican administrations, has been a godsend to the top 1 percent. Much of today’s inequality is due to manipulation of the financial system, enabled by changes in the rules that have been bought and paid for by the financial industry itself—one of its best investments ever. The government lent money to financial institutions at close to 0 percent interest and provided generous bailouts on favorable terms when all else failed. Regulators turned a blind eye to a lack of transparency and to conflicts of interest."
Nice,deregulation is BS and trickle down doesn't work,
here's the rest:
http://www.vanityfair.com/society/featu … ntPage=all
No bad monopoly has ever been created without help of the government.
Your anger should be directed at the government and regulation, not the free-market.
Of course this theory ignores all anti-trust regulation and the abuses that regulation has curbed.
Unfortunately, anti-trust enforcement is non-existent.
What's that? No example of a monopoly doing wrong without help from the government?
De-regulation started with Reagan, the repeal of Glass Steagall and The commodities futures trading act of 2000 put us right where we are now.
No bad monopoly has ever been created without the help of money. Your anger should be directed at money...
Your logic is consistent if nothing else.
"The frog does not drink up the pond in which it lives"
The frog is smart enough to know he needs that pond to survive too.
GE laid off 21,000 American workers and closed 20 US factories between 2007 and 2009. More than half of GE's workforce is now outside of the United States.
GE paid no US tax in 2010.
Giving outrageous tax breaks to GE boosted their profits but that didn't seem to translate into US jobs or in any improvement in the US economy. An increase in the DOW didn't help the unemployment situation either.
Why reward companies for moving offshore and giving unreasonable bonuses to the CEOs who promoted this?
Without proper regulation, trickle down stops in the executive suite.
http://abcnews.go.com/Politics/general- … d=13224558
Trickle down doesn't/never worked,
http://www.salon.com/technology/how_the … ide_coffin
The upper 1% doesn't live the same life as the rest of society, because creation of wealth has given them influence and power, due to lack of character of the existing political system in place.
Those who are in the political system fail on every level of character, as an individual. None of them represent society, but present themselves for benefits from society, while protecting corporate profits.
As I have said before and will gladly say again- "Corporate Protectionism" by government continues to be the status quo, which needs to be broken.
If it is not broken soon, then a host of other problems are only going to get worse, instead of better.
by Moderndayslave6 years ago
With the income gap between the wealthiest American's and the soon to be decimated middle or working class ever increasing. How much more proof do you need that tax cuts for the wealthy isn't creating jobs or supplying...
by WorldCup~20106 years ago
We are talking about Wal-Mart at school right now and there are two sides to this story. The bad side is how Wal-Mart is moving all of their manufacturing jobs over seas which ends up having a negative effect here in...
by Deforest2 years ago
poor" by Gore Vidal. He added that the rich are living off the federal government (contracts and tax breaks...).I definitively agree with him. Your opinion?
by rhamson7 years ago
The topic of trade deficit spending always brings with it the lost jobs in the US. The race to the bottom sends more and more jobs overseas with the demand for profits and growth by companies in the US. To compete...
by Mike Russo4 years ago
The next time someone tells you that Obama is destroying the economy, remind them that the stock market and corporate profits are at all-time highs.When they tell you that this hasn't helped them, remind them they've...
by My Esoteric2 years ago
The bottom line of President Reagan's Right-wing endorsed economic policy is that "if you put more money in the hands of the wealthy, it will, 1) Expand the economy, 2) Let the boat rise with the economy, and 3)...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.