Isn't the current economic crisis the result of unbridled corporate greed?

Answer 1

== The combination of corporate greed and the willingness of the lawmakers to relax regulations that would have prevented some of the malpractice is to blame. It is almost (to me) like the moral compass went awry in both government and business. == It's actually larger than the corporations you usually think of. It's got to do with Fiat currency, international banking, and the military industrial complex becoming stronger than the voters in the U.S. Since the U.S. has (had?) the strongest economy in the world, when it breaks down, the rest follow. The summary below is fair use of copyrighted material, for additional details on each point see the source linked below: 1. Of the 100 largest economies in the world, 51 are now global corporations; only 49 are countries.

2. The combined sales of the world's Top 200 corporations are far greater than a quarter of the world's economic activity.

3. The Top 200 corporations' combined sales are bigger than the combined economies of all countries minus the biggest 9; that is they surpass the combined economies of 182 countries.

4. The Top 200 have almost twice the economic clout of the poorest four-fifths of humanity.

5. The Top 200 have been net job destroyers in recent years. Their combined global employment is only 18.8 million, which is less than a third of one one-hundredth of one percent of the world's people.

6. Not only are the world's largest corporations cutting workers, their CEOs often benefit financially from the job cuts.

7. Japanese corporations have surpassed U.S. corporations in the ranking of the Top 200.

8. Over half of the sales of the Top 200 are in just 5 economic sectors; and corporate concentration in these sectors is high.

9. When General Motors trades with itself, is that free trade?: One-third of world trade is simply transactions among various units of the same corporation.

10. The Top 200 are creating a global economic apartheid, not a global village. The top eight telecommunications firms, for example, have been expanding global sales rapidly, yet over nine-tenths of humanity remains without phones.