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Friday, August 20, 2010


Marxism 101

Are businesses not investing and not hiring because corporate taxes and taxes on the rich are too high, and as a result they don't have money? Of course not. As the Washington Post hears it directly from CEOs, the answer is straight Marxism 101 - businesses don't invest and don't hire when no one is going to buy their products. They "blame their profound caution on their view that U.S. consumers are destined to disappoint for many years." "Destined to disappoint." What a quaint phrase. Of course it's the consumers that are the ones who are really "disappointed," as they struggle through life without jobs and with their homes foreclosed. The CEO's? They're just "disappointed" they aren't making more profit than they are.

Of course, we get the usual nonsense: "Executives see little evidence that the economy is slipping back into recession." Yes, they wouldn't, with corporate profits "soaring" according to the article. Actually, it's true the economy isn't going to "slip back" into recession, since it's never really left it. And, under capitalism, there's no real prospect it ever will.

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