Alternative Visions - Economy Update + What’s Undermining Neoliberalism
First half of today’s show reviews latest attacks on unions, in particular the ILWU longshore workers, and how Apple Corp. and other big companies CEOs and senior management ‘scam’ stock buybacks to enrich themselves directly from the buybacks. How Apple Board Directors like Al Gore make tens of millions of dollars a year from the buybacks scam. Rasmus then debunks the growing business-media spin that the US economy has ‘turned the corner’ and no recession is in view. How leading indicators, investment, manufacturing, jobs, and even early evidence of consumption indicate otherwise. The theme of Neoliberalism is revisited further once again, continuing recent weeks’ discussions. Why the Neoliberal policy mix (Fiscal-Monetary-Industrial-Trade) is becoming less and less effective due to maturing forces behind capitalist economic evolution. Rasmus explains how new technologies (power generation, electrical storage, artificial intelligence, machine learning. Uber and Amazon ‘effects’ and business models of the future, etc. are together undermining Neoliberal policy effectiveness and spell its doom next decade. (For a more detail treatment of the ‘natural restructuring of capitalist production, distribution, and finance’ now underway, threatening the future evolution of Neoliberal policy, read chapter 9 of Dr. Rasmus latest book, ‘The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump’ available at discount from his blog, jackrasmus.com). Next week: How Neoliberalism Destroys US Democracy’.
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