We Are All Hostages of Corporate Profits
by Charles Hugh Smith
Posted August 21, 2018
We’re in the endgame of financialization and globalization, and it won’t be pretty for all the hostages of corporate profits.Though you won’t read about it in the mainstream corporate media, the nation is now hostage to outsized corporate profits.
The economy and society at large are now totally dependent on soaring corporate profits and the speculative bubbles they fuel, and this renders us all hostages: “Make a move to limit corporate profits or speculative bubbles, and your pension fund gets a bullet in the head.”
Not just pension funds, of course; tax revenues will also be taken out and shot as most of the state and federal income taxes are paid by high-earners and those skimming capital gains from stock options and stock-based compensation packages. More…