Drudge Retort: The Other Side of the News
Saturday, March 18, 2017

The rise in trade, the reassertion of financial power, outsourcing of technological development, and the ascendance of an Oligarchy Executive Class have had dramatic effects on US Corporations, the way they're run, and their declining position in the world.

Labor always faces a threat from technology, but implementation requires effort, imagination, and expense. The results create new types of jobs even as they destroy old ones.

Trade isn't just a threat to domestic labor; it undermines US employer's market strength and with that labor's leverage over employers. Outsourcing throws out labor to save the firm.

Clinton presided over an economic boom which merged the superrich and Democrats. Our technological achievements fostered full employment without inflation, a decline in unequal pay and a rise in our living standards, transformed our worldwide image, leapfrogged Europe & Japan, and strengthened the dollar. Then it stopped, just before Clinton left office. (Galbraithe)

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Bush had no interest in the declining hi-tech industry, he governed on behalf of a small group of plutocrats in oil, media, drugs, health care, housing and finance. Income inequality soared and because of that unemployment rose.

Through the tenure of these two Presidents, a new wealth class emerged, interested exclusively in their bonuses, tied to stock prices. Running a company, planning, competing in global markets was too much trouble for them. Why perform risky work when you could cook the books, buy an accounting firm or ratings agency, and control the power and instruments of the State?

As our Industrial State was reshaped, the Banker, Venture Capitalist and Wall Street reestablished the powers lost after the Great Depression. Getting rich no longer took time, talent, perseverance. Getting rich just meant getting the approval of the capital market. What began in the hi-tech industries corroded the structures and rewards of older larger more competitive Industries. An explosion in CEO pay ensued, removed from any false notion of supply and demand for labor. Shrub created a new entrepreneur, devoid of ideological restraint, focused solely on Government as a vehicle for private profit on a continental scale.

This is the Predator State. It is a coalition of relentless opponents of any regulatory framework which considers the future common good, whose enterprises compete with or encroach on the public functions of the New Deal. It has two objectives, undermining the public's best interests and profiting from previously exclusive public endeavors.

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#1 | Posted by danni at 2017-03-18 05:42 PM | Reply

This is the Predator State. It is a coalition of relentless opponents of any regulatory framework which considers the future common good, whose enterprises compete with or encroach on the public functions of the New Deal. It has two objectives, undermining the public's best interests and profiting from previously exclusive public endeavors.

That kind of shtick is typical for Galbraith. This country is suffering from the most over-regulated economy in its history.

No one gives a ---- about public interest. It's undefinable. No two people have the same interests. That term is used to sound like they are noble and caring.

#2 | Posted by Ray at 2017-03-18 06:02 PM | Reply

BS again Ray,

Roads, schools, utilities are all excellent examples of the common good, public interest or whatever you want to call it. So is health care in every industrialized country except the USA.

#3 | Posted by nutcase at 2017-03-18 06:27 PM | Reply

Yeah sure, Nutcase.
Nothing there that can't be done better and cheaper in a competitive marketplace.

Government schools are nothing but indoctrination mills. The freaking health care system is going broke, and still you believe in it.

It's impossible to squeeze more out of the market economy than it what it can produce.

You believe in the impossible.

#4 | Posted by Ray at 2017-03-18 06:41 PM | Reply

Yep Good OLD Ray hath made a grand return that's for damned sure. LMFAO

#5 | Posted by LauraMohr at 2017-03-18 06:53 PM | Reply

Sorry, some things do not need to be built by the lowest bidder.

If some of our bridges had been built by private competitors, the bridges would be in the drink by now.

#6 | Posted by kudzu at 2017-03-19 08:44 AM | Reply

Yep Good OLD Ray hath made a grand return that's for damned sure. LMFAO

#5 | POSTED BY LAURAMOHR

If there was a shaft of sparkling light reflecting off of a golden treasure, hidden in a cave, protected by an evil dragon, then Ray would the the dragon.

#7 | Posted by kudzu at 2017-03-19 08:47 AM | Reply

If some of our bridges had been built by private competitors, the bridges would be in the drink by now.

All our bridges have been built by private competitors, name one that has been built by our government, just one.

#8 | Posted by Crassus at 2017-03-19 08:52 AM | Reply

No one gives a ---- about public interest.

That's because our government when contracting out doesn't define and set standards for public interest regulations.

#9 | Posted by Crassus at 2017-03-19 08:55 AM | Reply

Our technological achievements fostered full employment without inflation,

What garbage, just changed how inflation is measured, and allowed people to fall off the unemployment so a number stat would appear good.

#10 | Posted by Crassus at 2017-03-19 09:00 AM | Reply

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Labor is a commodity but is the only thing not traded as such, regardless what anyone says tariffs should be brought back for imported products directly related to labor costs.

#11 | Posted by Crassus at 2017-03-19 09:03 AM | Reply

Ray would like to install a toll booth on every road????? That's so dark ages, a megatrend.

#12 | Posted by nutcase at 2017-03-19 09:14 AM | Reply

All our bridges have been built by private competitors, name one that has been built by our government, just one.

#8 | POSTED BY CRASSUS

all of them.

how it is built is defined by the owner (gov't), via the specs.

once specs have been written, anyone can physically build it, just follow the specs.

all bridges, roads, etc... are build to gov't specs, which are way, way different than civilian specs.

#13 | Posted by kudzu at 2017-03-19 09:14 AM | Reply

The private industry follows the blue print/specs, and even those specs/blueprints are contracted out.

#14 | Posted by Crassus at 2017-03-19 09:18 AM | Reply

No one gives a ---- about public interest. It's undefinable. No two people have the same interests. That term is used to sound like they are noble and caring.

#2 | Posted by Ray

It's not in the public interest to have drinkable water? Breathable air?

who knew?

#15 | Posted by truthhurts at 2017-03-19 10:23 AM | Reply

The private industry follows the blue print/specs, and even those specs/blueprints are contracted out.

#14 | Posted by Crassus

public funds the construction

public agencies develop the standards that have to be met (by the specs) to, you know, ensure the public interest and all

public agencies often do their own designs

#16 | Posted by truthhurts at 2017-03-19 10:26 AM | Reply

Truth, can't argue with your post.

#17 | Posted by Crassus at 2017-03-19 10:35 AM | Reply

No one gives a ----it about public interest. It's undefinable.

Your view of community is ridiculous. There are people in every community in America working towards the public interest and giving back far more than they could ever hope to receive. The reason we have a country so many of us enjoy living in is because people worked to create parks, libraries, churches, charities and other organizations that better the community.

There's an organization near my home devoted to helping victims of domestic abuse. If you think those people don't give a ---- about the public interest you're out of your mind.

#18 | Posted by rcade at 2017-03-20 12:23 AM | Reply

The private industry follows the blue print/specs, and even those specs/blueprints are contracted out.

#14 | POSTED BY CRASSUS

geez, you really know nothing about how it works.

if you are gonna troll, the least you could do is be accurate.

#19 | Posted by kudzu at 2017-03-20 05:56 AM | Reply

Back to the predatory economic thing.....

Look in your mind and you will probably see some type of structural thought separation between your ideas about religion, government and business.

Those separations do not exist, in reality.

This is just one of the truisms we will have to accept in the The Brave New World Order©.

Ability, Money, Women, Power. Whoever has the most, wins, right?

#20 | Posted by kudzu at 2017-03-20 07:07 AM | Reply

Your view of community is ridiculous. There are people in every community in America working towards the public interest and giving back far more than they could ever hope to receive. The reason we have a country so many of us enjoy living in is because people worked to create parks, libraries, churches, charities and other organizations that better the community.

There's an organization near my home devoted to helping victims of domestic abuse. If you think those people don't give a ---- about the public interest you're out of your mind.
#18 | Posted by rcade

There's an organization near my home devoted to helping victims of domestic abuse. If you think those people don't give a ---- about the public interest you're out of your mind.

Then call me insane. People donate their time to causes because they have a sympathetic interest towards those causes, not because it serves some abstraction called public interest. I can reasonably argue that my job serves the public interest. It's in manufacturing. I like what I'm doing and I get paid for it.

I try to imagine how much better this country would be if 80% of government workers had real productive jobs. The irony is that these parasites think they serve the public interest by how THEY define public interst.

#21 | Posted by Ray at 2017-03-20 07:16 PM | Reply

It's not in the public interest to have drinkable water? Breathable air?
who knew?
#15 | Posted by truthhurts

It's in one's personal interest to have drinkable water and breathable air. Individual tolerances vary.

#22 | Posted by Ray at 2017-03-20 07:21 PM | Reply

- not because it serves some abstraction called public interest.

Wrongway Ray.

www.psychologytoday.com

#23 | Posted by Corky at 2017-03-20 07:33 PM | Reply

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