capitalism

Those who don’t know history…

Written By: Mike Smith - Date published: 9:54 pm, September 6th, 2011 - 7 comments

Robert Reich writes about the impact of growing inequality in the United States. He has a graphic that shows the effects over the past hundred years. As the US and Europe  come closer to their Niagara fall, the logic is compelling. Edmund Burke’s saying that those who don’t know their history are destined to repeat it comes to mind.

NZ must introduce a capital gains tax, sooner or later

Written By: Guest post - Date published: 12:41 pm, September 2nd, 2011 - 29 comments

The wealthy elite in Europe are now joining Warren Buffett in these calls for higher taxes for the rich (including CGT), why? Maybe it’s because they know the truth, they know that the world is likely to enter another global recession, and they know the risk this will bring to social cohesion, which they rely on for maintaining the lifestyle they enjoy.

Dimpost: Galtian overlord watch

Written By: notices and features - Date published: 9:33 am, September 1st, 2011 - 21 comments

Paul Reynolds is leaving Telecom having pocketed tens of millions and seen the value of the company halve. He follows in the footsteps of Theresa ‘Goldeneye’ Gattung who lost Telecom shareholders billions and has put the millions she was paid in gold. Isn’t something broken when bad CEOs paid so much? Danyl notes that’s not the exception, it’s the rule.

Gaynor on vampire neoliberalism

Written By: notices and features - Date published: 3:28 pm, August 28th, 2011 - 14 comments

Brian Gaynor notes vampire economics of neoliberalism means nearly all the largest listed companies are either privatised former public assets and/or monopolies thanks to government regulation. The capitalist elite has failed to generate wealth and stripped previously privatised assets. Now, their party, the Nats, plans to suck out more of our public wealth.

Wealth creators

Written By: notices and features - Date published: 7:48 am, August 27th, 2011 - 80 comments

Extracts from an article by Dr Campbell Jones (Senior Lecturer in Sociology, University of Auckland).  Who creates wealth?  Is wealth evidence of merit?

Hickey on the fall of capitalism

Written By: notices and features - Date published: 10:36 am, August 14th, 2011 - 33 comments

Bernard Hickey writes compellingly on the coming fall of capitalism.

Wealth creators or life-blood suckers?

Written By: Zetetic - Date published: 12:40 pm, August 8th, 2011 - 38 comments

Study proves that our ‘wealth creators’ are actually bad managers. We have the natural resources. Got the skilled workforce. We’re held back by the capitalist elite. Not interested in capital investment and paying better wages. They’re just rentiers out to extract quick profits: a formula of low wages, tax cuts, and untaxed capital gains. Parasites.

Ready for round two?

Written By: Anthony R0bins - Date published: 9:02 am, August 6th, 2011 - 79 comments

The global financial system, which has never properly recovered from the recession, is poised on the brink of a second crash.  The headlines are a parade of bad news…

Update: US credit rating downgraded from AAA to AA+ with negative outlook (same as NZ). Announcement was made after close of markets. It’s gonna hit the fan on Monday.

NZRU to blame for rugby rip-off

Written By: Zetetic - Date published: 11:07 am, August 5th, 2011 - 48 comments

Adidas was founded by a Nazi who lied that his own brother was SS to get him in deeper trouble when the brother was captured by the US. That cut-throat attitude persists. I don’t know why people want to wear All Blacks shirts. Adult equivalent of a 5 year old wearing a superman costume. But the NZRU shouldn’t let them be ripped off like this.

Key’s own goal on poverty

Written By: Eddie - Date published: 6:09 am, August 3rd, 2011 - 56 comments

A bad mistake by John Key in the House yesterday. Phil Goff asked him about the gap between rich and poor. Key cited a new report on falling inequality. But he should have read the report properly. It credits Labour policies for driving down poverty and inequality.

All hail our vampire overlords

Written By: Eddie - Date published: 11:14 am, August 1st, 2011 - 96 comments

How did the wealth of the 151 richest people grow by 10% of GDP when the economy grew only 1.5%? Mostly by revaluing existing assets. Not a lot of ‘wealth creation’ from our self-appointed Randian Heroes, just book changes. But, apparently, we owe everything to the elite and need to let them suck up more of our wealth for themselves.

Joyce and corporate handouts

Written By: Guest post - Date published: 11:38 am, July 28th, 2011 - 105 comments

National has handed Telecom a new monopoly to replace its old one. As landlines go the way of the Dodo, fibre optic cable is the new natural monopoly, and we’re learning that Steven Joyce was talking to Telecom as far back as 2009 to ensure they go the lion’s share of the government handouts for fibre and a virtual monopoly in the market.

Teetering on the brink

Written By: Anthony R0bins - Date published: 8:23 am, July 23rd, 2011 - 84 comments

Over the last couple of months two potential crises have been unfolding in two very different countries. Greece and America both looked to be in danger of defaulting on their huge debts and triggering a cascade of disastrous consequences.  The situation is still unfolding…

Another right whinger

Written By: Eddie - Date published: 11:50 am, July 6th, 2011 - 18 comments

There’s an odd contradiction in right-wing ‘thought’. On the one hand, they’re Randian heroes, the wealth creators, modern day Atlases who support the world while ‘parasites’ try to take their wealth and bring them down. On the other hand, they’re victims who need subsidies and special treatment. Fed Farmers CEO Conor English embodies the contradiction.

Squeezing the life out of the economy

Written By: Anthony R0bins - Date published: 7:13 am, June 20th, 2011 - 41 comments

Are we “roaring out of recession”?  No.  Is there an “aggressive recovery”?  No.  What’s going wrong?  The problem is that the Nats are squeezing the life out of the economy.