Officially measured inflation continues to oscillate in a narrow band around 2% like it has since the late 1990s. The idea of missing the inflation target from below is just central bank jabberwocky—-a lie that actually harms the vast portion of Main Street America where incomes have lagged behind actual inflation for most of the 21st Century.
A First Look at a New Report on Crony Capitalism – Trillions in Corporate Welfare
ReplyDeleteOne of the primary topics on this website since it was launched has been the extremely destructive and explosive rise of crony capitalism throughout the USA. It is crony capitalism, as opposed to free markets, that has led to the gross inequality in American society we have today. Cronyism for the super wealthy starts at the very top with the Federal Reserve System, which consists of topdown economic central planners who manipulate the money supply and hence interest rates for the benefit of the financial oligarch class. It then trickles down through lobbyist money into the halls of Washington D.C., and ultimately filters down to local governments and then the average person on the street gaming welfare or disability.
As such, we now live in a culture of corruption and theft that is pervasive throughout society. One thing that bothers me to no end is when fake Republicans focus their criticism on struggling people who need welfare or food stamps to survive. They have this absurd notion that the whole welfare system doesn't start with the multinational corporations and Central Banks at the top. In reality, it is at the top where the cancer starts, and that's where we should focus in order to achieve real change.
http://libertyblitzkrieg.com/2014/03/26/a-first-look-at-a-new-report-on-crony-capitalism-trillions-in-corporate-welfare/
Australia’s richest person Gina Rinehart receives welfare loan from US taxpayers
ReplyDeleteHow Australia’s richest person, mining heiress Gina Rinehart, secured a $US694 million ($764 million) loan from American taxpayers is surely one of the great ironies of the capitalist system, reports The Australian Financial Review.
The case is the latest example of a flaw in the United States political economy: what some see as crony capitalism.
Rinehart’s mining group, Hancock Prospecting, last week signed off on a $US7.2 billion debt package for her highly anticipated Roy Hill iron ore project in Western Australia’s Pilbara region.
There are 19 international lenders, including Australia’s big four banks, in the syndicate. Government export credit agencies including the Ex-Im Bank in the US, as well as Japan and Korea, were crucial in helping the massive debt-funding deal over the line.
Commercial banks and bond investors were reluctant to shoulder all the risk.
The US Ex-Im Bank says it “assumes credit and country risks that the private sector is unable or unwilling to accept”.
In return for the US government loan, Hancock Prospecting will purchase American mining and rail equipment from Caterpillar, General Electric and Atlas Copco. The Export-Import Bank says their involvement will “support” 3400 US jobs.
US conservatives have deep misgivings about the “corporate welfare” the Ex-Im Bank is dishing out, including to Rinehart.
http://www.hangthebankers.com/australias-richest-person-gina-rinehart-receives-welfare-loan-from-us-taxpayers/