In fact global conglomerates are strangling the world economy and the U.S. economy in particular. As a result the disparity between rich and poor is growing, our industrial base is evaporating (strangely we are, in effect, paying countries like China to take our industrial base – now that is stupid), with greed and corruption running rampant.

Corruption? Yes, corruption! To quote Dr.Batra, “Are big fund managers manipulating the futures market? From what we have seen in the past, the answer must be yes. This is because many of the financial brokers involved in the hedge funds are the same as those who cheated investors in the past, and even paid fines for their illegal activities. All these shenanigans perpetrated during the share-market bubble of the 1990s leave little cause for confidence that our financial experts play fair.” And these are now the same people running the economy!!!

And we’ve done all this to ourselves. Studies have shown that the average length of time a person contributes to our society is about 30 years. Probably somewhat longer these days but the point is that every thirty or forty years we have a new generation running the country. Unfortunately it also seems that no matter how the new generation is educated they are prone to making the same mistakes as their predecessors from taking the easy out of just “printing” money to solve economic problems (thus creating rampant inflation) to disastrous wars based on pride and greed as well as making new mistakes of their own. It seems that we just can’t learn from history.

Enough ranting, at the risk of alienating my readers let’s explore a few additional consequences. As noted, there are no consequences to executives that perform poorly in running our corporations. As a result these executives have huge incentives to loot corporations for their own benefit. In my opinion the corporate board of directors have abdicated their responsibility to the corporate shareholders. They have become captives of the corporate executives rubber stamping executive decisions and as a result giant global corporations have degenerated into a feudal type hierarchy with all its attendant ills.

Pages:
«« previous page 1 2 3 4 next page »»

Tags: Economics, energy, gas prices

This entry was posted on Thursday, June 25th, 2009 at 11:16 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

this article with others.