Corporations Bankrupting Nations
Five years ago, the U.S. Supreme Court handed down its Citizens United v. FEC decision, which opened the door to corporate donations in federal elections. In a 5-to-4 decision, the Supreme Court ruled that corporations are people, with the same right to influence politics as voters.
Unfortunately, corporations can’t vote with a ballot, so they vote with cash, influence and obstruction, which blurs the lines of corruption and fascism. In many cases, the corruption eliminates competition, while promoting favoritism. Of course, such deceit undermines and erodes capitalism. It’s my perspective that any assault on democracy or free-market capitalism is terrorism, not citizenship.
Meanwhile, many of these corporations have moved their headquarters to small islands to avoid regulations and taxes. They want access and influence, even subsidies, without any responsibilities.
“We must achieve a free sort of election campaign, not financed,” the Pope told an Argentine magazine this week. “Because many interests come into play in financing of an election campaign and then they ask you to pay back. So, the election campaign should be independent from anyone who may finance it. Perhaps public financing would allow for me, the citizen, to know that I’m financing each candidate with a given amount of money.”
The Pope’s remarks come in the midst of corruption scandals in his native Argentina. Global advocates of campaign finance reform embraced his message.
“We have just gained a great new ally with a worldwide voice for public financing campaigns,” said Fred Wertheimer, founder of Democracy 21. “We greatly appreciate his words and wisdom on this subject.”
Drew Hammill, a spokesman for House Democratic Leader Nancy Pelosi endorsed the Pope’s “call for an end to the contaminating influence of money in our democracy.”
Compounding the problem is the fact that the assault on entitlements and public services in many countries goes unchecked as corporate welfare takes nations closer and closer to the verge of bankruptcy. Unfortunately, down is the new up in the world of neo-capitalism.
Crisis capitalism is nothing new. The United States helped pioneer this freak form of economics thanks to Milton Friedman and his disciples at the University of Chicago. Friedman’s handlers within the U.S. government found that with enough pain, people will turn over everything that they own, including their nation, to corporate pillagers. I urge you to explore this background for yourself in a must-read book, The Shock Doctrine, by Naomi Klein. Hopefully, you have read this powerful expose’. If not, it serves as a blueprint for the constant crises that dominate national agendas.
As Klein reveals, the U.S. and corporate interests around the world have helped overthrow many functioning democracies with the use of debt. Shots are rarely fired. This philosophy is coming to a nation near you now. The chart above shows the U.S. debt as an example. If the U.S. defaults, the constitution could be suspended. A so-called bailout might emerge. It will look more like a looting of public and personal property. Take a look at some of the privatization taking place in Detroit as part of its bailout. In the U.S., the postal service and the VA hospitals also are prized takeovers. Look at any bailout of a public entity over the past 150 years and you will see that the pattern is time tested. Chile is a great example. There are many more. In the process, competition is not part of the process. The end game is to create unchecked monopolies around utilities, while pillaging pensions and other assets. I have no problem with privatization in many cases, but competition must remain part of the equation. Otherwise, it’s pure extortion.
Meanwhile, the U.S. continues to give away public land and land-use permits for pennies to the right corporations. It subsidizes multiple industries. It’s gutting public schools and exploiting public lands for the benefit of private interests. It’s stalling progress on environmental protection and climate change for private profit. Make no mistake about it–the tail is wagging the dog. Citizens are being betrayed. Patriotism is being tested by all sides of the equation in every nation around the world right now. We all have a duty to tune in, stand up and speak out. Demand a return to citizen democracy.