Silicon Valley in 2000. Photographer: David McNew/Hulton Archive/Getty Images

American Corporations Are Winning Their War On Capitalism (Part 2 of The Myth of Capitalism)

Google, Amazon, Apple, Facebook and Microsoft have bought more than 500 companies in the past decade. These giants are looking for the younger fast growers.
Today firms find it is more profitable to restrict production than to invest in growing. Think of airlines that don’t want more capacity, beer companies that don’t expand plants, and cable companies that don’t upgrade infrastructure.
Instead, firms take their high profits and plow them into share buybacks. The money goes to wealthy shareholders who spend less relative to their income than poor people. And so low investment and low consumption are tied together.

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BP Evil Plunderer Western Imperialism

Killing and Plundering : Special Investigation of BP in West Papua – Slow Motion Genocide, High Speed Profit

Many indigenous Papuans ask “Why are we so poor when our country is so rich?”
BP is profiting from a giant gas field in West Papua while the indigenous population face ‘slow motion genocide’ under Indonesian military occupation, an undercover investigation by New Matilda can reveal. The oil giant is collaborating with the army and police who are implicated in the killing and torturing of pro-independence activists as part of an escalating militarisation to secure West Papua’s gas reserves.
After fifteen years in West Papua, BP is endangering human rights and failing to deliver ‘a material improvement in fundamental living conditions’ of some of the world’s poorest people.
“BP are siphoning off West Papuan resources to Indonesia blind to the brutal repression going on around them, The Indonesian Government are desperate to hide what is happening from the rest of the world”, said Lord Harries.

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Tim Leissner, Goldman's Banker

Another Goldman Sachs’ Financial Con, will it be held accountable this time? Meanwhile Goldman Stock is Plunging

We are going to see whether Goldman Sachs, the world’s most politically-connected investment bank – the former employer of dozens of senior civil servants, from US treasury secretaries to the governors of the Bank of England and the European Central Bank can evade this financial fraud allegation once again. 
The answer will tell whether there has been reform in the banking and financial industry since a decade of financial crash, which I doubt very much. Meanwhile its stock is plunging, drastically underperforming compared to the market.

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Net Worth As Percent Of GDP

Goldman ‘Bear Market Indicator’ Nears Record High: “No Limit To The Stupidity Of Wall Street”

We are risking another bubble and if 70 years of historical relationships are anything to go by, the S&P 500’s annual return over the next 10 years may be about zero. “In hindsight, the fix was simple: abandon the belief in any limit to the stupidity of Wall Street.”
“Over the completion of the current market cycle, I fully expect the S&P 500 to lose close to two-thirds of its value from the recent peak.”

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The logo of Amazon is seen at the company logistics centre in Boves, France

Outright Robbery of the People by Big Company : Bezos’ Amazon Extortion

Amazon’s HQ2 spectacle, featuring civic leaders across the country happily debasing themselves—personally, politically, and economically— in a futile quest to attract the beneficence of Jeff Bezos, is just the most extreme example of a corporate con job that goes on all the time. Big companies can force cities and states to compete in a zero-sum game of offering them tax breaks and other incentives in order to locate or relocate facilities.
All of this is nothing but a transfer of wealth from public to private coffers. To companies, this is just free money. Billions of dollars from heaven.
By banning this insulting robbery of the public till outright, business will continue building, and investing, and locating, and relocating. They do all those things in order to make more money. Companies create jobs because they need work done in order to make money. They are not charitable activities. They do not need a bribe. They are playing on the desperation of desperate places in order to rip us all off. That should not be legal.

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so-much-pride-Jakarta

Poverty and Extreme Poverty: Filming in the Most Depressing City on Earth — Jakarta.

In Indonesia, the rulers are covering-up the true horrors of the Indonesian reality. Why?
Because they don’t give a damn about the poor. They couldn’t care less about the great majority that actually lives in destitution. They don’t need ‘help’, because the people do not matter. What matters is the profits of the few who are form the ‘elites’, as well as servitude and prostitution to the Western rulers. After all, it was the West that triggered the 1965 coup in which between 1-3 million intellectuals, ‘atheists’, Communists and unionists lost their lives. And so, the Indonesian treasonous business ‘heads’, the military generals, religious leaders as well as the servile scholars and media ‘stars’ are merrily prostituting themselves, eternally grateful to Washington, London and Riyadh, for saving them from the just and egalitarian society, which the great father of the nation Soekarno and the Communist Party of Indonesia (PKI) were aiming at.
The Elites get away with everything. No one dares to challenge them. And they get rewarded by the West – as long as they rob the country and its people of everything, and deliver huge part of the loot to the gates of Washington, Canberra, Paris and London.

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Black Rock CEO Larry Fink

World’s Largest Asset Manager Warns: The Dollar’s Days As Global Reserve Currency Are Numbered

Of course, the decline of the dollar could be a good thing…for the rest of the world. According to former World Bank Chief Economist Justin Yifu “the dominance of the greenback is the root cause of global financial and economic crises.”
Yifu’s solution was to replace the dollar and all other national currencies with one global currency. But already, Putin and Chinese President Xi Jinping are working on a different solution of their own.

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One Hell of a Crisis Looms

Mike Maloney: One Hell Of A Crisis Looms

We had a stock market crash in the year 2000, and then in 2008, we had a crash in stocks and real estate. The next crash is going to be in stocks, real estate and bonds — including a lot of sovereign debt, corporate bonds and a whole lot of other bonds that will be crashing at the same time. So, it will be all of the standard financial asset classes, including the traditional ‘safe haven’ of bonds that are going to be crashing at the same time that the world monetary system is falling apart.

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Startup Venture Capital Ponzi Scheme

Startup Bubble Ready to Pop : Startup Boom a “Dangerous, High-Stakes Ponzi Scheme”

“Such is the world of user acquisition in tech today: as growth becomes increasingly expensive, somebody must be footing the bill for all of this wasteful spending. But who?”
“The first, as you might guess, are early stage funds’ limited partners, particularly the ​future​ limited partners that invest into the next fund. Their money, after all, is what pays the VC’s newly trumped up management fee: marking up Fund IV in order to raise money for more management fees out of Fund V, and so on, is so effective because fundraising can happen much faster than the long and difficult job of actually building a business and creating real enterprise value. It might take seven to ten years to build a company, but raising the next fund happens in two or three years.”
“The antidote is two-fold. First, we need to return to the roots of venture investing. The real expense in a startup shouldn’t be their bill from Big Tech but, rather, the cost of real innovation and R&D. The second is to break away from the multilevel marketing scheme that the VC-LP-user growth game has become.”

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Italy 277 B Euro Debt to France

277 Billion Reasons Why France Is So Worried About Italy’s Showdown With Brussels

French, German and Spanish banks are now far too exposed to Italian debt for their respective governments to even entertain the idea of pushing Italy to the edge. “Brussels would love to see our defeat,” said Claudio Borghi, the Lega economics chief and budget chairman in the Italian parliament. “They think that we’ll surrender if they cause a crisis for our banks.
Lorenzo Bini-Smaghi, a former member of the ECB board, disagrees. He believes that events are following a similar script to the onset of the Eurozone debt crisis in 2011. “The economy risks tipping into recession in the fourth quarter. The Italian government has not understood this. The crash is going to be violent.”

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Trump Make America a Laughing Stock

Will Trump’s Policies Wreak Havoc on the US and Global Economies?

Cold Wars are useful for capitalists. They can justify massive military expenditure; they can justify patriotism and squashing dissent; they can justify loyalty to the strong leader. The trade war Trump has started might sound good to his base, but is likely to hurt many of them, as Canada, Europe and China are smart when they retaliate, knowing fully well that they will harm his base.
So part of Trump’s goal is to fire up his base by being tough on the foreigners. Trump has decided that the US is in a power struggle with China for global dominance. He is not the first US capitalist politician to believe that. US strategists have talked about making a pivot to China for more than a decade now. Trump has decided to lurch toward China.

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