A leaked memo has shown that Bank of America hope that conditions for American workers get even worse:
The problem with capitalism is that profit maximization has nothing to do with assuring people a high quality of life. The capitalist ideal is to liquidate productive industries that pay fair wages and then use the windfall as gambling money. Capitalism creates disgusting incentives; there is far more profit to be had in selling someone a product a hundred times over the course of a decade than in selling it to them once. This means big pharma treats symptoms rather than researching cures, and Silicon Valley makes electronics that are obsolete and worn-down after a mere year of service. Pharma guys are on record saying that they're worried about the long-term profitability of gene therapy, because if someone gets a single-shot gene therapy to cure a chronic ailment, the drug company might lose, say, tens or even hundreds of thousands of dollars in sales for a drug that provides recurring revenue but doesn't permanently treat the illness.
The problem with communism is that it's not what it advertises itself as. It claims to be the expropriation of property from the rich to the poor, when actually, it's the expropriation of property from the middle class to the rich. The truly wealthy are never affected by communism. All their money is in offshore accounts and when they see commie revolutionaries coming, they flee the country with their ill-gotten gains. Communism has benefited the rich immensely, which is why they fund and support communists. A healthy middle class is against the interests of the rich; the middle class already have everything they need, and thus, they never strive to secure loans for big-ticket items. Rich people use communist revolutionaries to liquidate the middle class, so that when the country thus liquidated collapses back into capitalism many decades later, their descendants can return to lending money to poor people and extracting interest.
What has our current economy done? It has destroyed all the heavy industry in America and sent it overseas in the name of "free trade", leading to massive trade deficits that have extracted America's wealth, our treasure, and funneled it into totalitarian hellholes with teeny wages and no labor rights, forcing American workers to compete with people who will do their jobs for a tenth the money. Meanwhile, entrepreneurial capitalism in the US has been replaced by managerialism and Soviet-style committees. Entire cities have been structured around serving the employees of one or two mega-corporations, as though they were company towns. Colleges have graduated armies of managers, lawyers, journalists, and bureaucrats, and very few scientists and engineers. Much of our science is being done by H-1Bs who are funneling our discoveries, paid for with American taxes, back to their native countries. And, above it all, big stakes in all of these companies are owned by massive investment firms like Blackrock and Vanguard, who are using the trillions of dollars of assets they manage to strong-arm governments and investors into being more "socially responsible" through the ESG investing scam. Every time their global Ponzi scheme comes even close to failing, they simply print more money, defacing our currency and tearing value from our savings.
We need an economy that puts the needs of ordinary people first, above and beyond senseless super-profits. Everyone has a right to experience affluence if they work hard for it. Giant corporations and commercial banks must not be allowed to take our birthright, pocket it, and force us to eat bugs and live in pods.
Bank of America Memo, Revealed: “We Hope” Conditions for American Workers Will Get Worse
The most powerful economic actors in the U.S. — entities like Bank of America and its clients — do not like working people to have power.
theintercept.com
The problem with capitalism is that profit maximization has nothing to do with assuring people a high quality of life. The capitalist ideal is to liquidate productive industries that pay fair wages and then use the windfall as gambling money. Capitalism creates disgusting incentives; there is far more profit to be had in selling someone a product a hundred times over the course of a decade than in selling it to them once. This means big pharma treats symptoms rather than researching cures, and Silicon Valley makes electronics that are obsolete and worn-down after a mere year of service. Pharma guys are on record saying that they're worried about the long-term profitability of gene therapy, because if someone gets a single-shot gene therapy to cure a chronic ailment, the drug company might lose, say, tens or even hundreds of thousands of dollars in sales for a drug that provides recurring revenue but doesn't permanently treat the illness.
The problem with communism is that it's not what it advertises itself as. It claims to be the expropriation of property from the rich to the poor, when actually, it's the expropriation of property from the middle class to the rich. The truly wealthy are never affected by communism. All their money is in offshore accounts and when they see commie revolutionaries coming, they flee the country with their ill-gotten gains. Communism has benefited the rich immensely, which is why they fund and support communists. A healthy middle class is against the interests of the rich; the middle class already have everything they need, and thus, they never strive to secure loans for big-ticket items. Rich people use communist revolutionaries to liquidate the middle class, so that when the country thus liquidated collapses back into capitalism many decades later, their descendants can return to lending money to poor people and extracting interest.
What has our current economy done? It has destroyed all the heavy industry in America and sent it overseas in the name of "free trade", leading to massive trade deficits that have extracted America's wealth, our treasure, and funneled it into totalitarian hellholes with teeny wages and no labor rights, forcing American workers to compete with people who will do their jobs for a tenth the money. Meanwhile, entrepreneurial capitalism in the US has been replaced by managerialism and Soviet-style committees. Entire cities have been structured around serving the employees of one or two mega-corporations, as though they were company towns. Colleges have graduated armies of managers, lawyers, journalists, and bureaucrats, and very few scientists and engineers. Much of our science is being done by H-1Bs who are funneling our discoveries, paid for with American taxes, back to their native countries. And, above it all, big stakes in all of these companies are owned by massive investment firms like Blackrock and Vanguard, who are using the trillions of dollars of assets they manage to strong-arm governments and investors into being more "socially responsible" through the ESG investing scam. Every time their global Ponzi scheme comes even close to failing, they simply print more money, defacing our currency and tearing value from our savings.
We need an economy that puts the needs of ordinary people first, above and beyond senseless super-profits. Everyone has a right to experience affluence if they work hard for it. Giant corporations and commercial banks must not be allowed to take our birthright, pocket it, and force us to eat bugs and live in pods.
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