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Blog of Mass Destruction

The Failure Of U.S. Capitalism

By The Reverend Published: February 15, 2014

I don't think I'm the only person in the country who believes modern U.S. capitalism has been an utter failure. U.S. capitalism over the last 40 years has helped gut the middle class and balloon the poverty class while simultaneously redistributing most income gains and "profits" to the top 1%. In this massive wealth and income transfer (redistribution) from the 99% to the 1%, government has been complicit.

Over the last decade, I've heard enough flowery claims from 1 percenters and their media servants about the virtually-divine, wonder-working power of capitalism to last me a lifetime. But the evidence shows, the proof demonstrates, that U.S. capitalism has only worked for wealthy Americans.

Rather than bore you with my ranting on this topic, I'd rather that readers do some weekend homework on their own. So, today, I'm recommending two articles as must-read material.

The first is this one from Reuters.

We often hear from the conservative forces arrayed against We the People how America's health care system is the best in the world. And it is.....but not in the normal sense of the word "best." Our nation's health care system, like almost all of our nation's capitalistic enterprises, works "best" for the already-wealthy who derive economic gain from that system.

But our nation's health care system is not the "best" when it comes to We the's a taste....

I had read many articles about the French healthcare system during the long public debate over Obamacare. But I still hadn’t understood fully, until I read this interview in the New York Times, that the French system is basically like an expanded Medicaid. Pretty much everyone has insurance, it explained, and the French get better primary care  and more choice of doctors than we do. It also turns out, as has been much commented on, that despite all this great treatment, the French spend far less on healthcare than Americans.

The very reason the ACA legislation was proposed was because U.S. capitalism had failed in delivering healthcare efficiently or affordably to We the People.

But the healthcare industry's failure is child's play compared to the U.S. financial industry. Brew some fresh coffee or pop a Bud, or you might even need to take a mild sedative before reading the latest piece from Rolling Stone's Matt Taibbi. 

Again, here's just a taste....

The Kochs have been caught up in their own commodity-manipulation schemes, including an episode in 2008, in which they rented out huge tankers and used them to store excess oil offshore essentially as floating warehouses, taking cheap oil out of available supply and thereby helping to drive up energy prices.

And it isn't just the Kochs with oil. Taibbi's article primarily focuses on the laws passed during Clinton pertaining to commodities trading. Have you noticed the price spikes in metals like copper, zinc, and aluminum during our protracted recessionary period? Taibbi explains how and why those spikes took place and why they will continue to take place.

Usually I rail against the transparently-obvious failure of today's Republican political party. It's easy picking. But what Matt Taibbi explains so clearly is non-partisan. Both political parties are responsible for today's failed capitalism.

The American people are being robbed, literally, each and every day by domestic enemies dressed in $1000 suits....all compliments of our corrupt financial/political/media class. The only possible path to ending the stealth war that our "respectable" political/financial domestic enemies are waging against us is to first.....get informed.

So, do your homework....there'll be a pop quiz next week.



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