Daily Archives: May 12, 2018

The Forgotten Vision of Market Socialism

The Institute For New Economic Thinking has the article The Forgotten Vision of Market Socialism.

200 years after Marx’s birth, a look at how two economists sought to reconcile his idea of common ownership with market mechanisms

I have thought that if the Social Security Trust Fund were able to invest in stocks rather than special government bonds, this ownership could lead to some of what is described in this article. It might be instructive to put these two ideas together.

The idea about Social Security was described in a previous post Saving Capitalism For The Many, Not The Few. Also see the previous post Adapting Society To The Age Of Robots. Or just look through my previous posts that mention Franco Modigliani,

China’s trillion dollar plan to dominate global trade

YouTube has the video China’s trillion dollar plan to dominate global trade.

I can just imagine Trump’s reaction to this.

We don’t need no stinkin’ infrastructure. Besides which, if China’s infrastructure starts to annoy us, we can just blow it up.

Seriously, if you think about the building of the railroads in the history of the USA, the railroad tycoons built huge fortunes based on the profits they made on the railroads. It is foolish to think that China has to worry about countries paying back the loans to build these facilities. There will be enough profit here to repay China many times over. We already have our infrastructure that we are milking like a cash cow. I guess we don’t need any more.

Toys “R” Us Workers Losing Their Jobs

Bernie Sanders has produced the video Toys “R” Us Workers Losing Their Jobs.

30,000 Toys “R” Us workers across the country are losing their jobs. This is what happens when you have a system that allows private equity firms to destroy profitable businesses and throw workers out on the streets with no severance.

I have not found the video free standing from Facebook, so you’ll have to follow the link above to see the video.

I believe that this is the real story, not the propaganda that Amazon is driving these companies out of business. This disaster has been brought to you by people like Mitt Romney and his company Bain Capital.

Imagine what would have happened if Romney had become President and started running things like one of his businesses. Well, now we have Trump, so you don’t have to use your imagination.

For those of us who used to be supporters of Barack Obama and of Deval Patrick the USA Today article Obama friend Deval Patrick joins Bain Capital, founded by Romney is like a kick in the teeth.

Former Massachusetts governor Deval Patrick is joining Bain Capital, the private equity firm founded by Mitt Romney that was disparaged by President Obama and Democrats in the 2012 presidential election.