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Showing posts with the label working class

January 21, 2010: The day corporate dictatorship destroyed the last remnants of US Democracy

globinfo freexchange     As we described many times in this blog, corporate power grew rapidly since the early 70s with the rise of neoliberalism and its subsequent establishment as the dominant culture, especially in the West.  In the motherland of neoliberalism, the United States, corporations essentially legalized corruption in politics during the 70s in order to capture the entire political system and put it under their complete control. As David Harvey describes in his book A Brief History of Neoliberalism :                          The supposedly ‘progressive’ campaign finance laws of 1971 in effect legalized the financial corruption of politics. A crucial set of Supreme Court decisions began in 1976 when it was first established that the right of a corporation to make unlimited money contributions to political parties and political action committees was protected under the First Amendment guaranteeing the rights of individuals (in this instance corporations) to freedom of speec

Macron vs Le Pen: The terrible outcome of Left's 1968 disastrous compromise

by system failure   It has become completely normal now for people in the "free" and "democratic" West to vote for the "lesser of two evils". Despite the fact that there is nothing democratic and normal in dirty tactics (which include even internal-party coups) organized by bipartisan dictatorships against real-Leftist candidates, the outcome of this process is now considered the new norm. That is, a neoliberal (pseudo-Left for the US) candidate against an alt-right candidate, which is definitely a win-win situation for the capitalist elites against the working class in every country.   This ugly show is repeated election cycle after election cycle. The elites produce huge amounts of propaganda energy, through their corporate media, to remove any anti-establishment real threats. In the final round, they leave their most favored neoliberal Cinderella to face an alt-right bad witch.   Bad witch's role is to scary the liberal and the Leftist voters in ord

Jonathan Pie proves that the post-capitalist civil war still goes on

globinfo freexchange   As we mentioned in the beginning of 2021, since at least July 2019, we were supporting the idea that Brexit is primarily the result of a capitalist civil war. Very few people (mostly in social media), were eager to accept this theory, while several were even mocking it as some kind of crazy conspiracy theory.    What puzzled us most, was the fact that even people from the global real Left were completely ignoring the capitalist-civil-war factor in Brexit equation during public debates. Many of them were seeing Brexit mainly as an angry response by the UK working class against the political and financial elites. We thought it would take forever to find someone from the Left to support the capitalist-civil-war theory.   We need to understand that this civil war between the capitalist factions does not come out of any substantially different ideological or political approach. Essentially, it's only a tough bargain. Capitalists just pick sides to n

Confirmed: Unpopular US President Kamala Harris is the most faithful puppet of the corporate oligarchy

globinfo freexchange     A recent article published on Bloomberg exposes impressively two things:    First, that the Democrats have no intention to even slightly move from their pro-corporate positions and towards the interests of the US working class; on the contrary.   Second, the elites essentially replaced Joe Biden with Kamala Harris.    The article was re-published by various websites and the surprises already start from the title: Harris quietly taps Wall Street, tech CEOs for advice on policy . Not that it is something we didn't expect, but why a top establishment outlet admits that Harris "quietly" runs to the banking-corporate oligarchy for "instructions"?  Perhaps more surprisingly, the answer can be found within the article itself:   The corporate world has provided a familiar source of help. As California's attorney general, Harris gained a reputation for frequently partnering with technology companies — rather than prosecuting them — as

August 12, 2020: The day capitalism officially died and replaced by something even worse

globinfo freexchange   It was the 12th of August, 2020. Nine o'clock in the morning, in London, the news came out that the national income of Britain (GDP) had fallen by more than 20% . That had never happened before in the history of capitalism - British GDP falling by 21% or so in one year. It was not anticipated. The markets were expecting a fall of 8,9,10%. No one was expecting a 21% fall. Fifteen or sixteen minutes later, the London stock exchange went up by 3% . There can be no explanation of that along the lines of capitalism.     This is how the Greek economist, Yanis Varoufakis, described essentially the official death of capitalism and its replacement by something even worse. The thing he calls "technofeudalism". While Varoufakis in various discussions struggles to explain why capitalism is already dead, it's rather funny that people still willing to debate on something that's already dead (capitalism) against something that's far from being practi

Fifty years from Nixon's shock: The moment the gates of hell opened to release neoliberalism and financial capitalism

globinfo freexchange   Half century passed from Richard Nixon's economic reform. The "Nixon shock" included " the unilateral cancellation of the direct international convertibility of the United States dollar to gold. Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange, the suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the Bretton Woods system was replaced de facto by the current regime based on freely floating fiat currencies. "   And so, one of the worst presidents in the history of the United States opened the door to the domination of financial capitalism and the correlated destructive neoliberalism.    Two years after Nixon's s

Biden said Trickle Down economics has never worked, but guess who else said that before and what happened

globinfo freexchange   Forget the fact that it took him about forty years to realize that one of the biggest neoliberal fairy tales is essentially the utter fraud. Not to mention that, all these years, he became part of the failed neoliberal system. That, he was faithfully following orders from the wealthy donors,  efficiently sustaining this utter fraud and other neoliberal deceptive policies, to protect their interests.   "Uncle Joe" suddenly discovered that Trickle Down economics has never worked and made the statement to a joint session of US Congress as if he had discovered an earth-like planet with a technologically advanced civilization.   This is one of the most suitable cases for someone to respond with the phrase: "No shit, Sherlock". Yet, the weirdness of this parody doesn't end here. It's even funnier the fact that someone else before "Uncle Joe" made this great "discovery". And it took another big crisis to realize it (or ad

QAnon and Russiagate: How the capitalist elites produced a mass conspiracy hysteria to maintain power

globinfo freexchange   In his new documentary Can't Get You Out of My Head , Adam Curtis traces the origins of popular conspiracy theories that survived up to our days and spread rapidly due to Internet. As a result, Curtis finds that Trump election and Brexit triggered a conspiracy paranoia that took over both the liberal establishment and the ultra-conservative camp. The story begins in the late 60s, when Kerry Thornley and his friend Greg Hill had started what they called Operation Mindfuck . They had spread the conspiracy theory that the Illuminati were really the secret rulers of the world. They had done it to parody and ridicule all conspiracy theories because they thought that they undermined the confidence of individuals and made them easier to control.    But now, in the mass of data online, those stories about the Illuminati got mixed up with other conspiracies, both true and false, and out of it came extraordinary dreamlike stories built out of fragments of truth and fic

Nevada to become officially the testing field for the 21st century corporate feudalism!

globinfo freexchange   An early February short report by Associated Press passed rather unnoticed. Yet, it could be probably considered the best proof for what this blog claims for many years now. In short, the Western economic model is about to be transformed into something even worse than capitalism, towards a kind of 21st century corporate feudalism. And the US state of Nevada is about to become the testing field for such a transition in the most official way! As the AP reported [emphasis added]: Planned legislation to establish new business areas in Nevada would allow technology companies to effectively form separate local governments. Democratic Gov. Steve Sisolak announced a plan to launch so-called Innovation Zones in Nevada to jumpstart the state’s economy by attracting technology firms, Las Vegas Review-Journal reported Wednesday. The zones would permit companies with large areas of land to form governments carrying the same authority as counties, including the ab

WallStreetBets Redditors brilliantly demonstrate a way to demolish Wall Street fraudulent Ponzi scheme

globinfo freexchange   WallStreetBets Redditors sent shock waves to speculative hedge funds who saw their gamble turn into a disaster, losing billions. The terror was evident on corporate media pundits' faces when they suddenly realized that their beloved Wall Street fraudulent system was successfully hijacked by outsiders.   As BusinessInsider reported :   Video-game retailer GameStop has dominated the headlines this week after its shares trebled in value in just three days this week, in a buying frenzy fueled by individual traders that have forced some of Wall Street's prominent hedge funds to close their bearish bets against the company with hefty losses.   GameStop's shares have hit record highs and the swarm of retail investors behind the rally have cheered each other on, primarily within the popular Reddit forum Wall Street Bets, which by Thursday, had around 3.5 million members.   Members have spent the past three weeks bidding up GameStop, which has se

The liberal machine tests Americans, confirms major divisions in favor of the capitalist elites

globinfo freexchange   A recent CBS News poll confirms major divisions among the US working class, something that serves perfectly the capitalist elites. One of the most interesting and disturbing findings shows that Americans overwhelmingly believe that the "biggest threat to America's way of life" is "other people in America", by 54%. That is, more than half of the other reasons combined. On the contrary, only 20% believes that "economic forces" are threatening the American way of life and this is a huge disappointment because after all these blatant systemic failures (especially in the last two decades), most Americans are still unable to identify the root of the problem, which is neoliberalism and financial capitalism. We can assume that this picture satisfies the capitalist elites. And that's because it shows that the corporate media are still able to distract Americans from the real problem by dividing them, through the old (and tested numer

The real reason corporate America fights Chinese high-tech giant Huawei so hard

globinfo freexchange   The short answer that comes immediately in mind is: competition.    Indeed, Huawei had been found frequently at the epicenter of Trump's "holly" trade war against China. Someone should expect this since Silicon Valley oligarchs see the Chinese high-tech giant rapidly penetrate into the global market, claiming bigger and bigger portion of the market pie.   As we reported previously, the US imperialist machine openly called Western allies (and particularly the UK), to sabotage China's economic and technological penetration in its Western sphere of influence, through a Foreign Policy article. According to the article, the UK appears to be the most suitable, among the US allies, to lead the race against China's 5G infrastructure deals with Western countries. In essence, it called the UK to play a leading role in sabotaging China's and Huawei's deals with the UK itself and other Western countries.   Also, according to MintPress , &