Chomsky: Plutonomy and the Precariat

[LazyBoy]

http://www.huffingtonpost.com/noam-c...b_1499246.html

or

http://www.tomdispatch.com/archive/175539/

Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college. That changed dramatically in the 1970s.

...

For the general population, the 99% in the imagery of the Occupy movement, it’s been pretty harsh -- and it could get worse. This could be a period of irreversible decline. For the 1% and even less -- the .1% -- it’s just fine. They are richer than ever, more powerful than ever, controlling the political system, disregarding the public. And if it can continue, as far as they’re concerned, sure, why not?Take, for example, Citigroup. For decades...

[jk]

Re: Chomsky: Plutonomy and the Precariat

here's a thread on plutonomy from 8/06.