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Congress Brings Socialism To America With This Proposed Law
Submitted by Simon Black of Sovereign Man blog,
Sadly today I am reporting to you yet another development that seems as if we are all living within the pages of Ayn Rand’s seminal work Atlas Shrugged.
You may recall from the book that John Galt, the enigmatic protagonist, started off as a young engineer at the Twentieth Century Motor Company.
When the owner of the company died, the heirs decided to run the business according to the new enlightened principles of the time.
Primarily, they let all the workers vote on how the factory was supposed to be run and how much everyone should be compensated.
And it was soon decided that “everybody in the factory would work according to his ability, but would be paid according to his needs.”
Naturally, bright hard-working employees soon left; they found themselves working around the clock for the benefit of others who felt entitled to contribute as little as possible.
John Galt was among the first out the door.
And not long after, the once successful company went bust. No surprise.
Unfortunately this is no longer fiction. Because in the Land of the Free, the United States Congress is striving to make Atlas Shrugged a reality.
Their latest brainchild is to set up a new government bank, stuff it full of taxpayer funds, and loan the money to American workers for the exclusive purpose to help them form collectives and buy the companies they work for.
It’s called the United States Employee Ownership Bank Act.
And, straight from the bill, they aim to provide “loan guarantees, direct loans, and technical assistance to employees to buy their own companies. . .”
The goal of this legislation, curiously, is to “preserve and increase employment in the United States” which is still problematic six years after the global financial crisis.
Since September 2008, the US government has increased its debt level over 50% to $17.6 trillion.
The US Federal Reserve has increased its balance sheet four-fold, conjuring $3.5 trillion out of thin air.
All of this was supposed to create jobs. And with each of these being a failed policy, Congress is now descending into outright socialism.
To be fair, people throw around the word socialism a lot. They’ll say “Obama’s a socialist” or something like that. Often it’s taken to exaggeration.
But this legislation– the government effectively sponsoring the communal takeover of private business– is textbook socialism: private property and the means of production owned by the community.
Socialist Yugoslavia actually tried the exact same thing: worker-owned cooperatives. And the consequent failure was absolutely epic.
But politicians never let pesky things like truth get in the way of a bad idea.
It’s time to wake up smell the reality. This isn’t about panic. It isn’t about doom and gloom. It’s about facts, not fear.
Any rational, thinking person has to look at this and ask a simple question: where is this trend headed?
The evidence is pretty clear. And more and more people are starting to realize it.
People all over the world are thinking: “This is not the country I grew up in. And I don’t like the trend.”
It’s unfolding right in front of our very eyes for anyone with the intellectual courage to pay attention.
Whether it happens today, tomorrow, or five years from now is irrelevant. It’s the TREND that is so important to pay attention to.
And with that simple premise in mind, does it make sense to hold everything you’ve worked your entire life to build in a place with such a negative trend?
Your livelihood. Your savings. Your retirement. Your family’s security.
Rational people look at facts objectively and have a plan B. What’s yours?
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Ah I see. The only articles I found on it in a Google search (not including the barren congressional links) referenced the 2009 bill so I assumed it was gone forever.
All the gutless wonders in DC I just wrote again today about how the House didn't pass a bill in May to restore the Office of Technology Assessment. This is what holds those folks back. The financial world walks all over them. We need a balance of both private and government and we don't have it.
http://ducknetweb.blogspot.com/2014/07/bill-to-restore-office-of-technol...
If you want to visit Healthcare today, well Burwell appointed a VP from Wal-Mart to be in charge of the insurance exchanges..so in addition to the United Healthcare model we are sprinkling in some Wal-Mart models now. We've seen and already lived both of those models so not much happening there either, except a lot more data selling.
http://ducknetweb.blogspot.com/2014/07/hhs-with-new-burwell-appointment-...
Once a government bank was in place, they could join MasterCard and the rest all selling our data and making money too. States already sell a lot of our data and make money so maybe the feds want some of this action.
One more item worth a look, to save a small hospital chain in AZ, it takes not one, not two, but three big hospital chains like Dignity, Tenet and Ascension to help bail this hospital out, they are dividing up the risk.
http://ducknetweb.blogspot.com/2014/07/tucson-az-healthcare-system-to-fo...
Perfect ... for S&P 6000 before 1000!
Ayn Rand was a Russian Jewish lady who came to the US, changed her name and made a bundle of money writing books that were naive from the economic point or view, and contradicted many positive elements of the American culture and value system. The most damaging result of her legacy was the de-regulation craze of the the last few decades, and its influence on the chairman of the Federal Reserve.
You mean the deregulation craze where the Federal Register tripled in size?
Free markets will bring your wages down to the Chinese who could never move out of feudalism without knocking off the west. Western markets must be defended and isolated from the 3rd world. Was Ronald reagan a good president? Look where we ended up? The FED creating free credit for big corporations so they can buy their own stock up after issuing low cost debt. National Socialism is the only way to go or not just Smith Field Food but everything else will be sold out by our corrupt politicians
Free markets will bring your wages down to the Chinese who could never move out of feudalism without knocking off the west. Western markets must be defended and isolated from the 3rd world. Was Ronald reagan a good president? Look where we ended up? The FED creating free credit for big corporations so they can buy their own stock up after issuing low cost debt. National Socialism is the only way to go or not just Smith Field Food but everything else will be sold out by our corrupt politicians
It's not the wages, it's the purchasing power. I'm far more concerned about "free" money rolled off the Fed's printing press. It will give you higher wages and blind you to your poverty that printing press foments.
You would expect more from Rothschild's mistress? She in fact was set up by him to write the book.
You, sir, are 99% correct. Despite being a successful novelist, quasi philosopher, cult leader, and movie script writer she clandestinely took Medicare and Social Security (despite being a lifelong opponent on highly principled “philosophical” grounds) in her advancing years. Meanwhile, some of her compatriot acolytes refused and died poor.
Deregulation is not the problem. Government guarantees and bail outs are the problem.
No logicalman, it is not my research it is aangirfan of Scotland who does some research I cannot take credit for. Scroll down on the link and you look at the hideous pic of Ayn Rand. People like to drop the name of Atlas Shrugged these to as if they are well read but they have only peeled the outer skin of the onion.
As you can see from the 3 down strokes we have at least 3 satanists on this thread :) __________ Make that 5 satanist!
I love this idea. Allows the workers to get the full benefit of their labor. It is no different then the old system. The shareholders just change and the old shareholders get paid to sell. The money simply comes from a public bank rather then from private lenders. The samll guy will be able to compete.
Just give me an even playing field and the elite will be shown to be less than average.
Just give me an even playing field. Anything else? That's all you need? Average slobs could make it, if things were even. And fair.
Sorry to do this.....
Grow up. Your even playing field....you were born. There, your even. Now make something of it.
5% get it done. Divide everything equally, in five years it'll be right back the same way. Oh, the rich are getting richer, but that's just .gov sticking their nose in the game.
Employees? Let them, they'll suck you dry. Needs to be a brain in charge. That is what average Joe wants. Someone to TELL him when to be at work, what to do, when to go home, etc.etc..
The guy that doesn't need someone telling him/her... Rarely stays an employee. They run the show, or strike out on their own.
You are falling for the Communist trap.
And you're a fucking idiot.
and you? Is that all you have? was that your college thesis? "and you're a fucking idiot" by Westcoastlibel
And have you ever had an employee?
The communist trap is fiat money from London. Everything else is just window dressing.
Not from my view -
Two kinds of employees, workers and producers. Workers may very well need and want lead by the soft handed brain. Producers not as much.
Our system, post WW2, turns producers into workers by allowing the brain at the top to be choosen by someone other than the invisible hand.
Two angles to consider
1) laws that give corporations control over employees, nanny laws. Pay their taxes, paid vacations, paid pensions, paid health care scams, paid for workers comp, paid for........Then there is the so called worker rights that empower the worker and destroy the producer. Overtime pay, breaks, lunches, etc....All this empowers the corporations at the expense of productivity. It also gives the less than qualified the power to lead, rule over, the workers.
All these amount to corporate charity to give these non producers the chance to compete with producers in smaller groups.
2) monetary policy - when the legal tender is created without saved production, by fiat, the producer is no longer needed. It is, in fact, the producing labor that creates the foundation of all capital. When capital is printed by frat brothers the need for production to create wealth is gone. Furthermore in an inflationary economy the saver is punished and those who live beyond their means, borrow against fututre earnings, are given a charitable advatange. Those who recieve this fiat tender gets its ful value and those down the chain get less and less. Our monetary system is top down, real capital is produced bottom up, from labor and its proper facilitation and administration.
Level playing field is simple, honest money and end the corporate charity. Cant quite see the problem with a level playing field and from my seat if we had one we would have less pigs on top and more honest nobodies doing more of the right thing.
We all know senators are whores for sale, who buys them ? Honest producers choosen by the ijnvisble hand or pigs in corporations seeking benefit and immunity from a central government run amuck with the power to create money and credit from thin air.
Replace the words just and sustainable with level playing field
How do we know who are the workers and who are the producers when the whole thing is by fiat decree? .gov/federal reserve throws in the "capital" and CNBS throws in the words, "free" and "markets" so "capitalists" such as yourself can give their system credibility?
Thats how they do it, they live beyond their means by counterfieting real production and formation of capital.
How do you know.......freedom is an animated conquest. You believe nothing you hear and half of what you see.
In the current system it is hard to know the difference. The system encourages otherwise moral people to live beyond their means while harming their own posterity doing what appears to be rational and just. The system is a moral hazard, all else predictable effects.
Employees run all corporations. Often times employees still buy out their companies today. Part of the employees running the company are the same people making all the big decisions before such a buyout. The tolerance for poor performing employees falls when it is the other workers whose income is on the line. The freeloaders will be tossed out.
The only person missing under this cenario is the guy who put up the capital. The guy who very often sits back and fills his pockets while doing nothing. This will eliminate the need for capital to be successful, which is what I refer to as a level playing field. Individual accomplishment will be the determinator of success rather than entitlement.
This is a true free market idea. It's only socialist in that there is a national bank, which is not a purely socialist by any means.
What you are missing is that people habitually act against their own interest with very little prodding from others. As we see with our current systemic failure, the principle occupation of most is to find whom to blame for it. If and only when a substantial portion of people willingly recognize that these failings are our own, primarily failing in tending to our own best interests, will anything change for the better. Our society has drowned itself in debt, largely for crap we do not truly need other than to satisfy the gaping hole in our souls that consumerism will never be able to fill. We have purchased infinite amounts of foreign made crap while condemning those who sold it to us for "giving away" our jobs. Germany is a net exporter, so they can sustain their socialist inclinations. Admittedly they have had to extend credit to most of their customers to keep the party going, but none the less, they at least export. America does not and the only thing that has a positive impact on our deficit has been the oil we pump from the ground, not manufactured goods (still better than nothing for sure). We can blame the Jews, the banks, the MIC, the socialists or any number of perpetrators, but NONE could have accomplished anything without OUR cooperation.
oh and the Satan worshipers, we can't forget their blame.
I get your point except - the bank run by the feds has two major problems.
The people will be non thinking drones who cant pick winners and loosers in the market place. The money they loan will be stolen via the inflation game from a real producer somewhere.
Take away the ability of government to create money and this will be mainstream America, capital being produced by small groups vested into each others productive gains.
What you desire is free market capitalism..........
Just another Rothschild scheme to fleece Americans further.
This new ponzi, bank, will loan out "printed" and stolen loot that will enable them to secure an interest in the collateral--the business' assets.
As predicted in the article, the businesses will go tits up, and then the banksters will swoop in and grab the assets. Some assets will stay here, the rest will be taken to the "land between the sea and river."
And one can be 100% assured that this new ponzi will be Ashkenazi headed and run like all the rest.
Author has no idea how socialism works. Our government robbing poor while transferring welth to rich. And this this just a little bit more greese to make mechanism work smoother. It is scheme to bail out rich investors when business goes belly up. This is the only point.
If you like socialism, he is full of shit. If you hate socialism he is a sage.
Legitimate question: What's the differance between a non-profit credit union and a bank with community ownership? (obviously the 'paid for your needs' can't work, but what about everything else?)
Why are more companies not structured like a Credit Union / non-profits? If the CEO took a nice salary (for incentive to manage the business) and maybe a 10% profit and let rest stay in the company to provide better services & higher wages (enticing better/more loyal workers to go work there) .. would such a business have advantage over a business where most money is paid out in share profits?
It happens all the time - its called small business.
Owner operated companies act more like the corporate non profits than their larger corporate counterparts.
Difference is small business is volunteer without structured covenants.
Yes, small business has an enormous advantage over the big corps, thus the need for ridiculous regulation and regulatory capture........
Capital is saved production, thus small business can easily live beneath their means more effectively than their larger, top heavy counterparts.
+100 and that is why large Corp love massive regulation and write most of the legislation for regulation, it kills the smaller, more flexible, lean, competition.
This plan is nothing more then taxpayer funded forced crowd funding. I suppose there is a mandatory AFL/CIO unionization clause.
When the greedy bastard "global" companies seek to ratchet down wages to 3rd world levels by outsourcing all labor to shit-hole countries, I think this is a great idea. It gives workers a chance to keep working and claim a little bit of ownership. And seems to me the "worker-owned" companies in existence already are doing fairly well.
and that is why your big corp. and Chamber of Commerce buddies are behind the flood of illegals so they can force down average wages and at the same time get behind a "living wage" for burger flippers so everyone makes 8 bucks an hour.
And what would be the result if we simply did not buy foreign made goods? It drives me nuts that so many rail against being treated like sheep yet want sheep protection laws enforced. We are either sheep or men, which is it? We do have a choice regardless of what many may think. It is simply a matter of transparency, where the choices are made quite clear, where buying foreign goods while no credit is extended or wages supplied for lack of employment are allowed to conceal the results of our choices. We have dug one hell of a hole simply because we have gone for the cheaper product, be it an imported good or simply imported labor, and used debt and social redistribution to delude ourselves of our culpability. Now we have debt that far exceeds any collateral while surrendering our technological and industrial superiority, making working our debt off actual servitude to our creditors, foreign and domestic.
and what better price to bring in the worker than the present?
Sad but true.
To the desperately underemployed older workers around me, surrounded as we are by the empty husks of once-thriving industries, many with the abandoned machinery still inside, this idea looks pretty good.
Call it what you like, what we have now makes no sense whatsoever to us, and the chance to go back into the old mills and apply our hands, our brains and the sweat of our brows to bringing them back to life would be a dream come true. We have the skills, we have the memory of well run workplaces, we long for a world where our work mattered and gave us a life. We are surrounded by want and unmet needs. We are perhaps the best educated most highly trained "army of the unemployed" in the history of the world. And we live in a state of hopelessness now, where a good gig is a few weeks work for $5 or $10 under the table.
Plenty of problems to overcome, but can you give me one reason this *couldn't* work, other than the logic of "capitalism as it exists today"?
Of course if you have some serious policy issues with Ayn Rand, (not every blueprint fits everybody's mold) there is good news. The daughter of Ayn Rand's partner LaVey has branched off with a new twist to give the masses a choice.
Zeena (Thanks to P2P for the link)
Zeena Schreck is the daughter of Anton LaVey and Diane Hegarty.
At the age of 13, Zeena was pregnant.
She became the high priestess and spokesperson for the Church of Satan.
Zeena and her husband Nikolas Schreck left the church in 1990, and, in 2002, founded a religious cult called the Sethian Liberation Movement, which allows the practice of magic.
Beelzebub's Daughter | VICE by Annette Lamothe-Ramos
Zeena in Berlin. Portrait By Florian Büttner
Zeena reportedly discovered that her father was a fake.
According to Zeena Schreck this was: "due to the intervention of the god Seth, who awakens through harsh disillusionment or scorn or through the shattering of everything that you thought was real being torn from you..."
Zeena says: "I began teaching black magic independently from the church..."
She temporarily joined General Aquino's Temple of Set, which she describes as "another abusive and corruptive group, and not at all what I was interested in."
http://4.bp.blogspot.com/-VlMI1lbchho/T_WFVQbuvTI/AAAAAAAAaN4/0zgSxBGVrk...
http://aangirfan.blogspot.fr/2014/03/satanists-in-louisiana-california-a...
red meat
So, apparently the author doesn't think this already exists in this great land of nepotistic crony capitalism?
Here:
“loan guarantees, direct loans, and technical assistance to major stockholders to buy more companies, real estate, treasuries. . .”
The goal of this legislature, curiously, is to “preserve and increase wealth of those who control the Congress and Presidency of the United States” which is still problematic one hundred years after the Federal Reserve financial crisis.
There, fixed for ya.
Authoritarial Socialism works best when the sheep think they have rights and Freedoms.
My plan B is to sit in my garden, listen to the birds, drink a lil shine or smoke a bit of weed and shoot anyone who comes over the fence.
Same as plan A.
That food is for me and mine.
Athena the dog is young, strong and vicious to anyone who doesn't belong.
I don't much care what Gov. is gonna do anymore.
None of it is worth a damn anyway.
Its not what government does to you, shovelhead. Its what government does to your friands and family.
They put brother against brother, wife against husband, father against son, neighbor against neighbor.
Its not what government does directly, the problem is the effects they have on otherwise rational people.
True, you must be careful and stop listening government and newspapers. And if the time comes, you and your friends with their friends must target those gov fucks together.
Wait until the employee owned bank...
WHEEE, loans for everyone.
Wait until the employee owned bank...
WHEEE, loans for everyone.
Socialism might not be so bad. Free Wi-Fi in every home, free Obama iPhone, $10 dollar a month rents, and free public transit. It would make going to and standing in line at the central food store seem like less wasted time. And no, the black market stores selling cheese and meats are not accepting American dollars.
This bill has no chance of passing, so why are we talking about it?
Site hits...
Atlas got Mugged and that's why the the United States Employee Ownership Bank Act is fucking being passed in the legislature, Tyler.
Wtf do you think is going to invest in small business? Do you think the banks have a track record of small business loans to small business America? There is no trend line of investment in small business in America whatsoever. Who in the hell is going to lend to small fucking business if the God damned banks are not going to do it? If you ran Government how would you rebuild small business loan investment, Tyler? I think this is a good idea for the USA and USA manufacturing reinvestment. It is a practical progressive way to support the manufacturing sector when the
cocksucker banks refuse to invest. You don't see the major banks coming out with their won ideas and they are not investing in anything other than their own book. It's time the USA Government did something progressive. I wish my Government would do the same thing here in CANADA. And what is all this 'land of the free' shit? Patriotism is these times is not getting the job done. Suck it up, Buttercup!
Banks that get their so called capital from the federal reserve system do not care about small business. Small business would dominate the landscape if thay were allowed egual access to markets and credit.
The answer is simple, confine the central authority to the original intent of the US Constitution....its that easy.
Giving small business loans from the feds will do nothing for regulatory capture, it does nothing for the regs and laws that give the big boys benefit and immunity.
The answer is less federal government, less rule by man and more rule of law.
How about the government gets out of the way. How about they let me keep my money, not take it and invest it in some scheme to let me buy up some stupid company I may not want. Let me keep my hard earned money! Do not take it in the first place.....THAT is the key. Screw government!
If banks don't think it is a good investment why the fuck would you want your tax dollars funding or guaranteeing it? You are completely insane.
Banks have made sure small business loans don't produce so that they can fuck small business and gain market share for corporations that garner a larger share of the loans markets. Too-big-to-fail has distanced itself from too-small-to-compete and in so doing put all their investment into a few select baskets that cannot sustain themselves without huge amounts of market share they cannot satisfy. BlackBerry is a perfect example of a large corporation being squeezed out by larger corporations with bigger market share. The banks don't want to lend to them either.
Look at the hard time BB is having with respect to investors. Look at the holdings and real estate sales of late and ask yourself if they are a good credit risk long term? Small business must be able to survive or the larger businesses will not be able to sell their products. They killed small business and manufacturing which gave us a service sector economy and the 1% class that does not invest in small town America or small business that fuels it. Neo-Keynesian logic is driving the Bank Act plan for business investment where the old guard Capitalists are fast asleep at the wheel of business. Keynes was a pragmatic theorist.
not too many good things coming out of DC, but this sounds like a good one.
Name one program the federal government has ever run effectively and efficiently ?
Name one program installed by our central authority that was not written by Wall Street, for Wall Street.
Good in theory, impossible without real capital produced from the bottom up living beneath your means.....
I ask - Is this a good program for unborn who is indebted to fund it ? Is it moral and just for us to live beyond our means spending the future earnings of the unborn.......WHAT ABOUT THE CHILDREN ?
This along with tariffs on competing imported goods would go a long ways towards setting things straight. Corporate America has abandonded America and this would help correct that damage.
Why not just follow the law, its much easier and far more sustainable.
Where does the federal government get the authority to provide special previledges and immunities to corproations ?
This will work as well as guaranteeing $500,000 mortgages on over priced homes of McDonalds cashiers did.
You are my sweet little Solyndra yes yes yes yes yes you are!
Coochy coochy coochy coochy smoochy smoochy smoochy smoochy smoochy!
So businesses lobby Congress complaining they need more and bigger dumbasses to buy their fucking companies and Congress, of course, obliges. You don't think a bunch of shithead members of Congress thought of this do you? They write none of their own legislation.
Another fucking sign this is all one big fucking joke...on us!
And this is no different than loosening lending standards to buy a house...after the insiders made all the big money of course. Fuck you pigs!
What's wrong with employees having an ownership interest in the company? Ever heard of an ESOP? The more productive employees get a larger share of ownership and, hence, a larger share of the profits. That beats all the profits going to some shitbag at the top who happened to inherit the company from his father but never did anything to build it.
Nothing is wrong with it. The problem is letting the government pick the winners and loosers by borrowing against the future earnings of an unborn.
It's not a handout. It's a loan. The government can make loans to employees to buy viable businesses. Then they get paid back with interest. It's how banks make billions of dollars.
what the fuck are you smoking.
A fucking loan from the taxpayer is as good as gone and up in smoke the seod it leaves the fucking door..
Fucking Idiot, cant you spot a crony corrupt scam yet when one hits you between the eyes.
Listen, Moron. Have you ever heard of the Small Business Administration? SBA Loan Program? It's been very successful for decades. Just because you can't find a job and you're bitter doesn't mean that every suggestion for a new program has to be dismissed out of hand.
Problem is that they dont loan tax monies, in fact they loan money from thin air. They simply inflate the money and credit supply.
CPI is not an accurate measure, inflation is the act of increasing money and credit.
When the new money is created two things happen. Debt is created and passed down and the new money devalues earned money to get its value.
Its not the idea, its the consequences of allowing the federal apparatus to administer it.
Crack-smokin' fuckin' Congress.
Let ONLY the bankster class own anything! If we have gov't compete with them, Madoff types will get mad! Your job as a peon is to do whatever the top .1% tells you to!
It's entirely possible that congress has no idea how the stock market works or what stocks are. We already have public ownership. This is why companies "go public" by offering shares to anyone who wants them. Pension funds own considerable amounts of stocks. 100% of my portfolio that isn't cash is in publicly traded shares. I guess that makes me a greedy socialist; I want some of the company's profits for myself.
This idea proposes a bank lend money to people who want to buy ownership in a company. They're literally suggesting people take on debt to buy stocks. This is fucking insane. I don't need a crystal ball to tell you how this will end. Hint: stock market crash and lots of margin calls.
Equating employee owned companies to socialism is quite dumb. The government handing out loans to do so is obviously not the right way to do it. The only grocery company in my area which can compete with Walmarts prices is an employee owned company.
You would have to be nuts to want to own the company you work for. Best think in the world is to work for someone else. You go home at night with NO problems. Let the stupid company go BK. You can always go find another job!
You go work for someone else and get your measley wage. I'm staying with owning part of my company and taking a share of the profits.
Another ill thought through initiative. This will fail as it will simply ‘cannibalise’ what is left of US manufacturing. It is simply another case of handing out money without actually addressing the real and underlying reasons and policies that are making the US economy uncompetitive, hollowing it out, etc. Apparently no one in Washington lives in the real world and understands the building blocks - capital, skills, knowledge, products, etc, required to create a company. They live in a delusional world of debt and money.
Yes, everyone knows Capitalism works soooooo much better by Too Big To Fail Corporations.
Petty little American and Western middle/working class surfs are such lower breeds for this task.
Like the Title. Gives a nice anti-Socialism feel while in reality indirectly promotes pro-Oligarch/Monarch rule. [Remember: Common People cannot do nothing right. We need them to lead us by the hand.]
Um, employee owned companies are incredibly successful. In fact this is such good news that there's gotta be a catch
But the track record of commercial investment via taxpayer-funded state-owned banks is not. They become political slush funds. Lending criteria standards are low, bad investment decisions rise and NPLs soon rise. It soon becomes just another way of keeping a lid on unemployment and feeding taxpayer money to cronies.
And that's what this lunacy is about.
I agree with both of you, yet... smacker, I'd change your sentence to "the track record... is mixed". I've seen companies that were quite good even though their bank-funding was a morass of political cronyism. at the end, funding is funding, and entrepreneurial activity is entrepreneurial activity, and the two can be separate
Your premise sounds like a forced marriage. So what if a rust belt manufacturer, intent on going to China, has employees who'd like to make a go of running the company and keep their jobs?
Oh, and, Ayn Rand is creepy.
Obama in Colorado just a couple days ago "It turns out I'M a pretty BIG EMPLOYER"
Raynd's theory was that corporations should be free of all laws and regulations, as it would be "in their own self interest" they would follow laws treat their workers right, dump no pollutants, and do good throughout the land ROFL yeah RIGHT!
Employee ownership => Then let the employees start their own company instead of using tax payer funding to buy out(take over) some else's company as in Venezuela. I wonder how much GM union ownership (even small percentage) has to do with recent GM gaffs.
S. 2411 is sponsored by Bernie Sanders, who describes himself as a socialist. It probably won't pass, though. It probably won't even get past committee; so says govtrack:
1% chance of getting past committee.
0% chance of being enacted.
Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]
The following factors determined this bill’s prognosis:
The sponsor is a member of the minority party. ?
6+ cosponsors serve on a committee to which the bill has been referred. ?
The bill was referred to Senate Banking, Housing, and Urban Affairs. ?
This bill was a re-introduction of S. 3419 (112th) from the previous session of Congress. ?
https://www.govtrack.us/congress/bills/113/s2411
IBM is mostly employee owned, goofball. This isn't socialism, you need to read up a little. Government owned means of production is socialism. Geez, I expected better from ZH.
Didn't Rand receive social welfare and medicare? If she was true to her principles she would have refused that.
While socialism fails because eventually you run out of other people's money, capitalism fails because eventually the ponzi scheme and fractional reserve banking system will collapse (and you will run out of future generations' money). And it will then turn into....socialism or corporate fascism. Or a mixture of these two.
edit: Socialism in Yugoslavia didn't fail because of employee co-ownership but because of inefficiencies and the fact that socialism dictates 100% employment and because nobody could get fired. Why work and be innovative when you are provided for?
commie? batshit obama the bare is and will always be a fascist.
I think the community worker is just an employee.
Following in the footsteps of Yugoslavia.
Good job Barry.
Communist in the WH affirmed.
the opportunity to own and vote on how a company is run already exists........ buy stock with your own fucking money bitch....
CAPITALISM GOT US TO BE THE exceptional country we are..... AND socialism WILL DESTROY IT... Progressives/socialists are FAILURES who wont quit. trillions WASTED on progressive / liberal programs.... and the poverty rate is higher than it was when the "war on poverty" started in the '60s.....
The Tortoise is arriving at its destination. This is scary stuff.
Not too far back there was talk floated about making the Postal Service into some sort of bank. Guess that didn't "fly."
Let's hope the House votes this down.
We, the People need to throw out as many Dem/socialists and RINOS out of office as possible in Nov.
The difference between a communist and a socialist? A commie takes power at the point of a gun; a socialist takes power with the point of a pen. Quote 0bamao: "I have a pen...
'Nuff said.
paranoic Americans...
You mean Ayn Rosenbaum?
Simon Black, you sorry coksiker. Socialism is already here, thanks to you tribal parasites; this is full on communism. Now you're still trying to squeeze out the last few bucks as you guys burn the place down for the insurance money. Now get your stupid Ayn Rand BS out of here.