Tag Archives: capitalism

PUERTO RICO’S ‘AMERICAN’ PAYDAY LOANS: No Principal Or Interest For 47-Years, But Then Loans Balloon To Unrepayable Dimensions! CITIGROUP, GOLDMAN SACHS, MERRILL LYNCH (BANK OF AMERICA), MORGAN STANLEY, UBS, BANCO SANTANDER, Etc. Knew What They Were Doing & Knew How Desperate Puerto Rico Was For Financial Aid. Add In President Obama’s Evil, Political, Capitalistic PROMESA BILL Of June 30, 2016 (Establishes Federally Appointed Control Board To Run Puerto Rico’s Economy & Disenfranchises Puerto Rican Democracy – You Thought America Was In Favor Of ‘Democracy’, Didn’t You!), And Just Like Greece, Puerto Ricans Will Have To Borrow Another $1 Billion In 47-Years To Pay Off The Original $97-Million Loan And So On And So On. See Why Tabacco Always Rails Against ‘Deregulated Capitalism’! Yet THEY Always Tell Us How WONDERFUL CAPITALISM IS! And YOU Believed Them: P. T. Barnum’s ‘There’s A Sucker Born Every Minute!’ Democracy Is Wonderful For THEM, But Not For US! – DEREGULATED AMERICAN CAPITALISM AT ITS WORST!

AMY GOODMAN: “That means for 47 years, the banks agreed, you don’t pay us any principal, and you don’t pay us any interest for 47 years. And at the end of the 47 years, that $97 million becomes $1 billion that Puerto Rico has to pay back. That’s a thousand times what the original loan was. So, the banks had to know that there was no way that Puerto Rico could pay this back, but yet they continued to issue these bonds.

For just these capital appreciation bonds, these payday loans, just for a slice of them, banks got to make $221 million in fees. And they get to offload the risk.”
…..

“Meanwhile, even before President Obama has named members of the new control board, we’re beginning to learn just how bondholders are being protected and the people of Puerto Rico made to suffer. On June 29th, the government-owned Puerto Rico electric company announced its plan to raise by 28 percent the island’s electricity rates, which are already higher than any state but Hawaii. The extra money will be earmarked to pay debt service on up to $9.3 billion in new bonds the company, known as PREPA, plans to issue to replace its old debt. As part of the restructuring, the utility’s new directors will come largely from the U.S., and the new bonds will pay an astounding interest of 10 percent.”

JUAN GONZALEZ: “It’s a scandal that received almost no attention during the recent congressional debate over the so-called PROMESA bill, which will establish a federally appointed control board with sweeping powers to run Puerto Rico’s economy.” Continue reading

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GLOBAL CAPITALISM’S FATAL FLAWS! Earth Demands An Alternative Economic System To Replace This Scam, Which Fails Every 10-Years, Bribes & Dominates All Politics To Benefit The Few, Creates Unconscionable Disparity Of Wealth, Produces Vast Poverty On A Planet Of Great Prosperity & Swallows Up Even Large Corporations To Gorge The Strongest Behemoths! Capitalism Makes People Yearn For The Days Of Dynasties & Monarchs Before Democracy & Its Twin Vulture, Capitalism, Reared Their Double-Headed Anathema. Democracy Is Worthless If The Populace Is Denied Adequate Education As In America. Capitalism & Democracy Cannot Be Amended, Patched, Modified Or Revamped; No Corrective Alterations Are Sustainable Because We’ve Had Them, And Elitists Removed Them One-By-One! None Of These Abominations Are Accidental! Machiavellian Planning Is There For All To See! The Election Of Bernie Sanders Would Signal The End Of Capitalism As We Know It!

CAPITALISM’S FLAWS
I –Great Concentration Of Wealth In Hands Of The Few
II –Entitlements Are Never Considered Unless They Contain Inherent Elements For Capitalistic Profits
III-Perceived Intrinsic Item Value Is Actually A Subjective Concept, Not Objective
IV-Money Has Only ‘Proxy’ Value, Not Naturally Intrinsic
V-Capitalism Considers First: Productivity, Growth, Prosperity, Second: Individual Freedom & Third: People. This Hierarchy Should Be Reversed, And Computers Must Not Rule People
VI-U.S. Politicians Have Removed Laws, Which Prevented Themselves From Accepting Corporate Bribes; Lobbying Now Makes Political Bribery Legal
VII-Vast Majority Of Investments Made In Speculation, Not Production
VIII-Global Neo-Capitalism Induces Consumers, Businesses & Governments To Buy On Credit By Borrowing, Placing Consumers & Nations in Debilitating Death Traps Continue reading

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LIFE AFTER CAPITALISM! FDR’s ‘New Deal’ Negotiated With Greedy Corporatists To PRESERVE CAPITALISM: Social Security, Unemployment Compensation, Medicare, Medicaid, Minimum Wage, Public Works Programs Re 25% Unemployment During GOP’s ‘GREAT DEPRESSION’ Was The Direct Result Of Political Pressure Applied By THE COALITION: Communists, Labor Unions & Socialists! That’s Right! Communists Were Powerful In 1940s USA! Today You Don’t Know Your Own History Because Nobody In MSM Tells You What I’m Telling You! Additionally 1- FDR Died, 2- Republicans Passed 2-Term Presidential Limits To Prevent 2nd FDR (FDR Elected 4-Times), 3- GOP Assassinated Communism’s Public Reputation (Despite Soviets Being Our Allies In WWII), 4- GOP Today Destroying Labor Unions, 5- Capitalism Made To Appear Omnipotent ‘Best Thing Since White Bread’, 6- Republicans Reversing FDR’s ‘New Deal’ For The Last 60-Years To Prevent A 2nd ‘New Deal’. Why? In 2015 Top Tax Rate Is 39%. To Finance ‘New Deal’, In 1944 Roosevelt Taxed Every Dollar Of Income Over $25,000 At 94% (FDR Wanted To Tax Income Over $25,000 At 100%!) That’s Right: Rich Got To Keep $6 Of Every $100 – That’s It! In 2015 The Elements Of That ‘COALITION’ Have Been Emasculated/Destroyed! Rich Folks Want Americans To Be Stupid/Not Know Our Own History To Preserve Their ‘GOLDEN GOOSE’ Called ‘CAPITALISM’! BUT There Are ALTERNATIVES – THERE IS LIFE AFTER CAPITALISM!

TABACCO’S SHANGRI-LA: Life After Capitalism begins with electing Bernie Sanders as President and driving Republican Party to 3rd Party Status, then gaining Super Majorities in both Senate and House. Constitutional Amendment passed by the People to ‘Un-limit’ Presidential Terms of Office! Re-establish Tillman Act of 1907 as Constitutional Amendment, prohibiting Corporate Campaign Contributions. Make Lobbying a Federal Criminal Offense, punishable by 10-20 years imprisonment + Fines according to ability to pay. Issue NEW U.S. Currency and INVALIDATE present Currency within 30-days of Effect making it basically worthless except for Trade-In Value. Allow any single individual over the age of 18 to trade in up to ($1 million – $10 million, to be determined) in Old Currency for New Currency, which automatically eliminates ALL BILLIONAIRES and makes their off-shore HIDDEN ASSETS worthless! The Cost of Living will be cut to a Fraction of its current Level. Limit Income for Too Big To Fails by Strict Enforcement of Anti-Trust Laws, Federally Control Prices! Revised Graduated Income Tax would control Salaries! A ‘REAL’ GRADUATED INCOME TAX would be installed with Limits at FDR’s Rates in 1944!

Public Financing of ALL ELECTIONS! No more Billionaires and no more Financing your own Election!

Life After Capitalism can be BLISSFULLY UTILITARIAN FOR EVERYBODY (NOT JUST THE ELITISTS) if only Americans would stop listening to Network/Corporatist/Republican PROPAGANDA and follow Tabacco’s Scenario for LIFE AFTER CAPITALISM!

‘UTILITARIANISM’
http://tabacco.t-a-b-a-c-c-o.org/?p=249

WE THE PEOPLE HAVE THE VOTES TO DO IT! Continue reading

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Cuban Communist Socialist Drug, HEBERPROT-P, Could Mean End Of Amputations For Diabetic Foot Ulcers. Cuban Medicine Differs From USA Because Cuba Researches Rx To Help The Most People (UTILITARIANISM) While US Big PhRMA Researches Rx To Yield The Greatest Profits (CAPITALISM). Lou Gehrig’s Disease Wouldn’t Even Be Known Were It Not For Gehrig! But Under Capitalism, 1 Is Not Enough! If You Are A Candidate For Diabetic Foot Amputation, I Wonder If You Will Care That HEBERPROT-P Was Created In Communist, Socialist Cuba Rather Than In Democratic, Capitalist America! (Cutting Off Your Nose To Spite Your Face!) And For Those Americans, Whose Feet Were Already Amputated Unnecessarily, Tabacco Identifies Who In America Is To Blame For Your Unnecessary & Totally Preventable TRAGEDY!

Heberprot-P is the brand name of a drug developed by scientists at the Center for Genetic Engineering and Biotechnology (CIGB) in Cuba as a cure for diabetic foot ulcer.[1] The product contains epidermal growth factor (EGF) to be applied by intra-lesional injections directly in the wound site.[2][3][4] It has been found to “promote granulation and healing in advanced diabetic foot ulcers”.[5] Heberprot-P is indicated for the treatment of poor prognosis of deep, extensive, and terminal DFU not responding to comprehensive and/or extensive conventional methods, particularly in grades 3, 4 and 5 of Wagner’s Classification with average ulcer size bigger than 20 cm2,[1] of both neuropathic and ischemic etiology with high risk amputation. Clinical studies in 344 patients with advanced diabetic foot ulcers (Wagner´s grade 3 or 4, median size >20 cm2, ischemic ulcers not excluded) have shown that injected recombinant EGF has the potential to promote complete granulation in more than 80%, with complete wound healing (re-epithelialization) in more than 50% of subjects usually unresponsive to other treatments. Injected recombinant EGF has the potential to reduce amputation rates, with a considerable personal and public health improvement, including longer survival.[1]

Tabacco: Why Don’t We Have Heberprot-P in America? Answer: Because of the EMBARGO STUPIDITY that passes for American-Cuban Foreign Policy – that’s why!

THANK YOU, President Obama, for NORMALIZING RELATIONS WITH CUBA! Finally an American President with the COJONES to do what should have been done half a century ago!

But goddam the Bigots, the Brainless Sponges, Politicians, Capitalists & Cubans who prey on Cubans under the guise of ‘democracy’ for maintaining the US Embargo for so long! Continue reading

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U.S. STOCKMARKET ROLLERCOASTER Has Nothing To Do With CHINESE STOCKMARKET ROLLERCOASTER – But Europe, Wall Street & Obama Want Us To Believe They Are Joined At The Hip! Wall Street’s ‘Black Monday’ Explanation Is A Fortuitous Excuse, Not A Reason! Another Misdirection Is This: CHINA IS JUST AS RED AS IT EVER WAS! Just One More Lie Of Omission Perpetuated By US Politicians & The Mainstream Media: “If We Cease Saying, ‘Red China’, People Will Begin To Believe Communists No Longer Run China”. Is It Working? You Tell Me!

MICHAEL HUDSON: Well, what happened in China doesn’t have very much to do at all with what happened in the United States. Wall Street would love to blame China, and the Obama administration would love to blame China, and Europe would love to blame China. But most of the Chinese stocks went down because small Chinese investors were borrowing from, let’s say, the equivalent of payday loan lenders to buy stocks. There was a lot of small speculation in Chinese stocks pushing it up. But this was an internal Chinese phenomenon. And China, as a whole, doesn’t really have the problems.

The real problem is that we’re still in the aftermath of when the bubble burst in 2008, that all of the growth in the economy has only been in the financial sector, in the monopolies—only for the 1 percent. And it’s as if there are two economies, and the 99 percent has not grown. And so, the American economy is still in a debt deflation. So the real problem is, stocks have doubled in price since 2008, and the economy, for most people, certainly who listen to your show, hasn’t grown at all. Continue reading

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GREECE Faces Savage Blowback For Anti-Austerity WAR – Noam Chomsky Warning In March 2015! Greek Voters Voted To Reject Austerity-Laden ‘Trojan Horse’, But In A Democracy, The Voters Rarely Count Unless They Vote As The Aristocracy Wishes. The Greek Government, A Parliamentary Republic, VOIDS PEOPLE’S DEMOCRACY! If Greeks Can’t Win Under Capitalism, What Chance Have ‘We The People’ In USA!

“In the early hours of Thursday morning, the austerity bill that will pave the way for financial aid worth 86 billion Euros ($94 billion) was approved with 229 votes in the 300-seat chamber. There were 64 votes against it and six abstentions.” – MSN

DIMOS KOUBOURIS: [translated] We demand that the government open the banks now and give us our pensions. This is money we have already paid in. It’s a lifetime’s work, and we want to be able to buy medicine and food for our families, and get our lives back.

Tabacco: And you naively thought that in a DEMOCRACY when the Voters reject something, it stays REJECTED! SILLY YOU! Continue reading

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AMERICAN CAPITALISM SERIES, Part II: CIO, SOCIALISTS, COMMUNISTS & FDR’s NEW DEAL! Political Solutions Without The Greedy Rich, The Mainstream Media, Democrats, Republicans Or The Supreme Court! That In Itself Is A New Concept! Richard Wolff Offers Viable, Innovative, Unconventional Solutions To Correct Capitalism’s Selfishness, Unfairness & Excesses. Politicians Either Can’t Or Won’t Solve Problems. And He Gives A History Lesson On FDR’s NEW DEAL And Why Corporations And Rich Financed It To Prevent Socialism And Communism From Replacing American Capitalism. New Thinking And New Approaches Are Needed To Achieve Results For Currently Insoluble Dilemmas & Future Crises Just As FDR Used During Great Depression. There Have Been 13 Depressions Or Recessions Since 1929. Every President Has Had At Least 1. Each Promises, “My Policies Will (1) End Current Crisis And (2) Ensure We Never Have A Crisis Like This Again!” Has Any President Succeeded In Keeping His Promise To Date? You Tell Me!

THE INDUSTRY GAME OF MONOPOLY, PLAYED WITH REAL MONEY:

NARRATOR: John D. Rockefeller’s oil makes up nearly 40% of the cargo shipped on the rails. But, when Vanderbilt teams with his (own) biggest rival (Tom Scott, Pennsylvania RR) to push for a Rate Increase, Rockefeller takes it as a Declaration of War! He builds a Pipeline in response and begins to pull his shipments (from the railroads). And since the railroads have been drastically overbuilt, losing cargo means losing money.

Stocks plummet as Investors run scared! By the time the PANIC of 1873 is through, 1/3 of the country’s 360 Railroad Companies have gone bankrupt!

JOHN D. ROCKEFELLER – TOM SCOTT CONVERSATION:
(NARRATOR: No one has capitalized more on the growth of the oil industry than John D. Rockefeller, who now controls 90% of the U.S. oil market. With the death of Cornelius Vanderbilt, only one man stands in the way of Rockefeller’s complete control of oil – Tom Scott!)
ROCKEFELLER: I’ve tried to be friendly to the Pennsylvania. I’ve given you plenty of business, have I not?
SCOTT: (Nods affirmatively)
ROCKEFELLER: And now I find that you’re invading my field, and that, my friend, is piracy!
SCOTT: (rising from his chair) We’ll take your feelings into account, Mr. Rockefeller.
ROCKEFELLER: (rising to shake hands) Two-thirds of the oil you carry comes from me. If you don’t retreat, I’ll take it to the other railroads.
SCOTT: As far as I’m aware, there isn’t another railroad that runs from Pittsburgh to New York. (He then walks out of the room, followed by his protégé, Andrew Carnegie)
———————————————————————
ROCKEFELLER: I don’t want one drop of our oil traveling on the Pennsylvania!
ASSISTANT: But what about the Pittsburgh Refineries?
ROCKEFELLER: Shut them down!
(NARRATOR: Shutting down his refineries will cost Standard Oil a fortune in lost revenue! But for Rockefeller, crushing his Competition matters more than anything else!

Without Rockefeller’s oil, Scott loses nearly half of his business, forcing him to layoff tens of thousands of workers and drastically cut wages. Those workers take to the streets in protest. And, as darkness falls on Pittsburgh, they turn violent. A fire is set in Tom Scott’s train yards. Before the night is over, more than 39 buildings and over 1,200 train cars are destroyed. Tom Scott’s Company lays in ruin!

H. W. BRANDS, Historian: This is how Capitalism works!
(Transcribed by Tabacco from ‘All New – The Men Who Built America: More 2 Version’, Episode: A New War Begins) Continue reading

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AMERICAN CAPITALISM SERIES, Part I: THE CAPITALISM MYSTIQUE! Political Solutions Without Reliance On The Greedy Rich, Corporations, The Mainstream Media, Democrats, Republicans Or The Supreme Court! That In Itself Is A New Concept! Richard Wolff Offers Viable, Innovative, Unconventional Solutions To Correct Capitalism’s Selfishness, Unfairness & Excesses. Politicians Either Can’t Or Won’t Solve Problems. New Thinking And New Approaches Are Needed To Achieve Results For Currently Insoluble Dilemmas & Future Crises Just As FDR Used During The Great Depression. There Have Been 13 Depressions Or Recessions Since 1929. Every President Has Had At Least 1. Each Promises, “My Policies Will (1) End Current Crisis And (2) Ensure We Never Have A Crisis Like This Again!” Has Any President Succeeded In Keeping His Promise To Date? You Tell Me!

TABACCO: The “OCCUPY MOVEMENTS” are futile, unsuccessful attempts by REAL Grass Roots to achieve Economic Change. They could not succeed because at its heart it requires the Individual Rich, the Corporatists, the MSM and the Politicos to feel so embarrassed, so ashamed that they would capitulate and DO THE RIGHT THING! You can never embarrass those guys enough to achieve your own Goals of FAIRNESS! Nor will they respond favorably to entreaty and pleading!

“Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found the exact measure of injustice and wrong, which will be imposed upon them, and these will continue till they are resisted with either words or blows, or both. The limits of tyrants are prescribed by the endurance of those whom they oppress.” – Frederick Douglass

Without a doubt, this Series is the most important and universal subject I have tackled since I began blogging in 2005. Continue reading

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7 DEADLY SOCIAL SINS: Catholic Popes Say, “UNREGULATED CAPITALISM” IS A SIN! Many Urge New Pope To Rebuke RYAN BUDGET For What It Is: A MORALLY REPREHENSIBLE ABOMINATION! Tabacco Agrees Wholeheartedly! Republicans, Are You Paying Attention! In Addition To Undermining Working People’s Labor Unions, Disenfranchising Black Voters, Gerrymandering Minority GOP Into The Majority In House Of Representatives With Fewer Nationwide Votes, Republican Politicians Also Legislate ‘Of The Rich, By The Rich And For The Rich’ As “REVERSE ROBIN HOODS”, Who Steal From The Poor And Give To The Rich (Including Themselves). Then GOPers Claim A Special Relationship With God? The Truth Turned Upside Down Is A LIE!

7 DEADLY SOCIAL SINS include 4. Polluting the environment, 5. Contributing to widening divide between rich and poor, 6. Excessive wealth and 7. Creating poverty Continue reading

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