This excellent interview explains why our living costs keep rising without us getting any more for all the extra expense. It explains how all wealth keeps being transferred to the top; how we get poorer in a booming economy and booming stock market; how corporate raiding creates unemployment and makes those of us who still have jobs work ever harder; and what the unholy alliance (or rather abusive relationship) between Big Money and government has to do with it all.
- Example #1: The government builds a costly bridge and then sells it to one of its billionaire bosses for pennies on the dollar. The billionaire crook then erects toll booths and we get to pay for the use of the bridge we already paid for with our taxes. Thus lots of things the government used to give us for free or minor fees because our taxes had already paid for it, now comes expensive. And these costs keep rising. It’s like a landlord raising your rent just because he can; not because you are getting any more for it.
- Example #2: A corporate raider buys a company, lays off workers and makes the remaining workers do all the extra work of the lay-offs keeping the profits made by saving on salaries. Eventually the company may go under, but there are always more companies to raid.
- Example #3: The government has the monopoly on money creation, but for no good reason it passes this monopoly on to the banks and then borrows money from them for which it then has to pay interests from the taxes we pay. In effect, we are paying taxes to the banks.
Yes, the video is well worth watching.
(Note: if the video to which this article links gets deleted, you may search the Internet for the title: “Michael Hudson: Donald Trump Wants to Make the 1% Even Richer”)