On Reality Asserts Itself, Ms. Foroohar says growing inequality and record student, household and corporate debt is creating a dangerous bubble, similar to the lead up to the ’29 crash; the Financial Times columnist and author of “Makers and Takers” says a few on Wall St. see it, but most businesses are doing too well to care – with host Paul Jay. This is an episode of Reality Asserts Itself, produced May 9, 2018.
On Reality Asserts Itself, Ms. Foroohar says President Bill Clinton’s finance team further deregulated Wall St. including eliminating Glass-Steagall legislation allowing even riskier investments; the Financial Times columnist and author of “Makers and Takers” says this helped create the world’s largest financial institution—Citigroup— headed by Clinton’s former Treasury Secretary Robert Rubin – with host Paul Jay. This is an episode of Reality Asserts Itself, produced May 9, 2018.
On Reality Asserts Itself, Ms. Foroohar says the legalization of stock buybacks in 1982 allowed companies like Apple to now spend only 15% of their investments on R&D, while the majority is spent on market manipulation; the Financial Times columnist and author of “Makers and Takers” said the move from traditional pensions to 401k’s makes everyone feel they benefit from finance when the vast majority of profits go to the elites and most people’s living standards deteriorate – with host Paul Jay. This is an episode of Reality Asserts Itself, produced May 9, 2018.
On Reality Asserts Itself, Ms. Foroohar says financialization delivers stagnant wages, inequality, and economic crisis; the Financial Times columnist and author of “Makers and Takers” says the financial sector represents only 7 percent of the U.S. economy but takes around 25 percent of all corporate profit while creating only 4 percent of all jobs – with host Paul Jay. This is an episode of Reality Asserts Itself, produced May 9, 2018.
This is an episode of Reality Asserts Itself, produced on June 17, 2014. Mr. Johnson says politicians dependent on campaign contributions from the wealthy are allowing finance to bankrupt Detroit and cities across the country.
This is an episode of Reality Asserts Itself, produced on June 13, 2014. Mr. Johnson says TARP was an abomination; finance controls the government and uses it to cover its losses.
In a 3 Part series, Prabhat Patnaik discusses his read on the history of capitalism from colonialism into the present. Prabhat Patnaik shows that as capital is relocated, real wages do not rise, inequality widens, and global demand is suppressed. The system remains in protracted crisis, Keynesianism in the North alone is no solution. The struggle is everywhere.
Imperialism which existed in the colonial era persists to this day and the system cannot do without it. In a 3 Part series, Prabhat Patnaik discusses his read on the history of capitalism from colonialism into the present. Prabhat Patnaik explains how the colonial system led to depression. Then, in advanced countries governments stepped in to increase demand and productivity, but how unless the periphery is available for extraction of wealth and cheap provision of inputs the system would collapse. So, the Global South was absorbed by a globalization process where finance becomes predominant, income deflation is widespread and governments everywhere are turned into the servants of financialization.
This is an episode of Reality Asserts Itself, produced on January 8, 2014. On Reality Asserts Itself with Paul Jay, Marisela Gomez, a doctor, and community activist, says one can’t arrive in the Hopkins community and not see the huge disparity between this institution and surrounding it, a community that’s been completely disinvested and abandoned.
The final segment of our series with Bill Black on modern American financial fraud.
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