Socialist Revolution: The Price Capitalism Pays When Greed Goes Unrestrained

Socialist Revolution: The Price Capitalism Pays When Greed Goes Unrestrained by David Haggith for The Great Recession

Socialism is the price Capitalism pays for unrestrained and unpunished greed, and Alexandria Ocasio-Cortez is the new face of Socialism in America. AOC refers to her Socialist revolution — for now wrapped up in the Green New Deal before congress — as the “politics of optimism,” and so it is. That’s because Socialism is the direction to which hope among the young and idealistic most often flows when Capitalism run by the old has grown corrupt and exhausted and is destroying itself with unrestrained greed and unpunished financial crimes.

AOC warned that America is grappling with the consequences of putting “profits over everything else in our society” for so long, and that the capitalist system, as it stands, is “irredeemable.”

Zero Hedge

Of course Socialism in many nations around the world, such as the former Soviet Union and Communist China, has proven irredeemable many times, too. It takes a heavy hand to force people to give what they don’t want to give and to work if they don’t have to. That history, however, does not have the ear of the young, while Alexandria Ocasio-Cortez and Bernie Sanders and, to some extent, Elizabeth Warren, do. But AOC puts the nicest face on it.

She’s fun, vivacious, beautiful, energetic, photogenic, friendly, and very communicative. I have no doubt she is well intentioned and genuinely cares about the poor and middle class. Most Socialists are. However, just as Capitalism is subject to being undermined and exploited by the greedy and self-serving, Socialism has proven equally prone to being overtaken by the powerful and oppressive who need to control others.

Revolution is growing everywhere in the world because the sins of corrupt bankers were not published and the divide between the haves and have nots is growing. A Socialist revolution against the US establishment is forming on society’s Left flank where we hear its drumbeat growing. On the Right, you can hear the war trumpets of the Trumpeteers, and somewhere on the fringe of nowhere you can hear the chaos of anarchists.

All are rebellions forming against a greedy, unsinkable establishment that has managed to stuff 80% or more of the nation’s wealth into the pockets of 10% of the people. So, that, to me, is where we need to focus our attention. We need to correct the deep economic flaws that are energizing all of this.

This greedy take by the 10% (and especially by the top 1%) developed, in good part, because of reduced tax breaks for the establishment that, in most cases, offer lower tax rates than those paid by the middle class (thanks to 35 years of discounts on income earned from capital gains where the wealthy make all their money and a cap on their Social Security contributions, which also benefits only the wealthy). It also came about because of numerous tax loopholes that benefited only the rich for decades and because of corporate welfare that that transferred wealth from the middle class and the poor to the rich. It also happened because all Federal Reserve new free money was given directly to rich bankers to play with as a reward for foisting a decade of financial turmoil on the rest of the world. It happened because for thirty-five years, almost none of that wealth has trickled down.

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David Haggith

Knave Dave — vigilante against the false profits of The Great Recession Too many criminal CEOs still fill their porky bellies with the biggest taxpayer bailouts in the history of the world. These bailouts protect their reputations, saving them from the fall they should have taken. They continue to receive bonuses for having done an unparalleled job of destroying their companies! Many of their companies wouldn’t be making any profit at all if not for the interest they’re making off of nearly free government bailouts. Just this week Hewlett-Packard fired its CEO, but is still paying him a bonus of millions of dollars in exchange for a year of corporate wandering in the wilderness. Netflix’s CEO cost his company hundreds of thousands of subscribers and had to reverse his decision. Bank of America’s CEO launched a debit-card fee plan that was immediately stupid in the eyes of many, but greed an arrogance led him to think he could pass it by his customers, and he lost customers in droves and had to reverse his decision, as did the many major banks that followed him. Since these corporate leaders do things most of us can immediately see as being dumb, why are they rewarded with salaries a thousand times greater than many of us make?