Friday, April 22, 2011

Vulture Capitalism

The Wall Street-Treasury Complex as
Counterpart to the Military-Industrial Complex
By Norman D. Livergood

A vulture capitalist
Capitalism is based on the private ownership of the means of production--the farms, factories and service industries. Capitalists make profits on their investments, instead of selling their labor power like the working class. The United States at present is primarily a capitalist economy, though some means of production are publicly owned. America has always suffered under a capitalist economy that exploits and murders workers. In earlier decades, capitalists pretended to be concerned for workers and for the facilitation of democratic freedoms and a high standard of living for all. However, with the kind of leadership the U.S. has suffered under for over a century, capitalism has become a fascist tyranny in which the moneyed class loots the nation, while the working class suffers lower wages, higher prices, decreased constitutional liberties, chronic unemployment, homelessness, and death. This latter kind of exploitative economy is most accurately called "vulture capitalism," and we are seeing it now in full view with the fascistic tactics of the cabal.
Vulture Capitalist

The U.S. is a "consumer society" in which workers must buy and sell to live. Every part of life becomes a commodity, something to be bought and sold, whether it is a computer, the latest automobile, sporting or technological skills, sex, or our ability to work. In essence, capitalism is "generalised commodity production," the transforming of all life into a "thing," something to be owned or traded. Vulture capitalists call this commoditization of human life the "free-market-system" and force it on nations throughout the world. When this "system" fails, the vulture capitalists send in their carefully-selected Harvard economists to see that the nation's financial ruin is complete. In 2001, Argentina was the last in a long list of nations which have fallen prey to the ravages of vulture capitalism: currency-manipulation, asset-stripping, and factories and products sold at pennies on the dollar.
There are important distinctions between the various types of capitalism:
  • Industrial capitalism: producing profit through manufacturing and distribution

  • Finance capitalism: producing profit through the manipulation of financial instruments (bonds, stocks, securities, derivatives, etc.)
Vulture capitalism is a form of finance capitalism, a hydra-headed monster:
  • Multinational corporations moving their manufacturing plants to wherever the labor market is cheapest, where they can get the largest tax break from the host country, and where they can be assured that the host country will adopt a currency that can be traded without danger of political interference
  • The Wall Street-Treasury Complex during the 1990s allowing its economic client-states (Japan, South Korea, Thailand, South Vietnam, Laos, Cambodia, the Philippines, Taiwan, and others as occasion dictates) to make profits by selling their goods on the American market A vulture capitalist
  • Vulture capitalists selling U.S. client-states military weaponry manufactured by their own corporations and peddled through the Pentagon and U.S. embassies world-wide
  • The Wall Street-Treasury Complex forcing its client-states to open their economies so U.S. vulture capitalists can carve out huge profits through currency manipulation and asset-stripping
  • The vulture capitalists buying assets (manufacturing plants, banks, businesses, etc.) at pennies on the dollar, when the client-state begins to go under, because the American market is saturated World Bank
  • The International Monetary Fund (IMF) and the World Bank--fronts for the Wall Street-Treasury Complex--offering loans to nations with ailing economies, forcing them to implement draconian economic measures (euphemistically called "conditionalities"):
    • Laying off as many workers as possible
    • Cutting wages at all levels
    • Forcing the nation to pay its debts to IMF and the World Bank before making any other payments

  • Vulture capitalists attacking the currencies of nations with ailing economies (e.g. Indonesia, Russia) and reaping obscene profits