Austerity Insanity: Opinion
There are two massive sources of unproductive spending across all Western economies: interest payments to the Bond Parasite, and corporate subsidies. The solution to the "problem" of the Bond Parasites -- sucking back more than 20% of every revenue dollar across the West -- is simple, and has been discussed by many, beginning with Steve Keen: Debt Jubilee. Burn the Bonds (of economic slavery) and Western economies will be halfway toward salvation.
The other necessary step is to eliminate all corporate subsidies, more than 90% of which (by dollar amount) go directly into the pockets of multinational oligopolies. Here is where the utter ignorance of the economics profession is completely exposed.
For more than 40 years we have seen a perfect correlation across all Western economies: Subsidies increase for corporations while unemployment gets worse and worse and worse. To understand why this is happening, we must first ask ourselves what these megacorporations do with all their subsidies. The answer is that they buy machines in order to eliminate jobs.
For more than 40 years, our traitor governments (backed by the brain-dead economists) have been subsidizing big business to help it slash jobs. While the real solution to the problem of oligopolies is to smash them all into little pieces (with existing antitrust laws). At the very least we must stop subsidizing their destruction of our economies.This brings us to the revenue side of the picture. As I've explained previously, Western economies are currently experiencing the worst revenue crisis in our entire history. Here the problem is even more obvious. Ordinary people and small business have already been squeezed dry. Meanwhile, our governments refuse to tax either big business or the ultra-wealthy (who happen to own most of big business). Thus our economies are dying from taxation anorexia. With taxes for large corporations and the ultra-wealthy at the lowest (effective) rates in history, our politicians remain willfully blind to the only cash cows who can ease their revenue crises. However, this mass betrayal of the Western nations by our own governments also has a political component.
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