Posts tagged profit
6 Major Corporations that Profit from U.S. Aid to the Egyptian Military
Our foreign aid programs are big time vehicles for crony capitalism.
One of the biggest beneficiaries of our foreign aid largess (after the ruling classes of the receiving 3rd world countries) is the good old American Military Industrial Complex.
We make a lot of arms in the United States, and the companies which want to sell guns, tanks, and planes make sure countries who want to buy guns, tanks, and planes but can’t afford them are subsidized by the American taxpayer. This is the case in Egypt.
About $1.3 billion is authorized each year to bolster Egypt’s military, one of the most powerful in the Middle East. That aid covers 80% of all of Egypt’s military purchases, according to a recent congressional assessment (pdf). This assistance has totaled nearly $42 billion since 1948, and nearly all of it has gone to buy American weaponry and hardware.
In fact, the appropriated funds never make their way directly to Egypt. “It goes to the Federal Reserve Bank of New York, then to a trust fund at the Treasury and, finally, out to U.S. military contractors that make the tanks and fighter jets that ultimately get sent to Egypt,”
Image credit: http://www.againstcronycapitalism.org
Educated debt serfs: The massive scam (and bubble) which is the federal student loan program.
Over the next 10 years the federal government stands to make $184 billion in interest from college loans. The main beneficiary of these loans (aside from the government) is the American university system, which has increased the cost of a college education at 3 times the rate of inflation for decades now because of all the easy money. Professor salaries reach ever higher. As have the buildings.
The recession barely touched much of the academy as students of this generation have sought refuge from the economy in college in the same way students sought refuge from the Vietnam War 40 years ago.
Basically the equation is this:
Parents who did not save enough money for college which keeps rising in cost at astronomical levels anyway because of the government induced student loan bubble + student who believes the world will end if he or she doesn’t go to college + societal pressure + bad job outlook + super easy credit + a university system which wants to get paid and encourages students to take on enormous debt + students who are clueless about what debt really is = Nearly an entire generation of middle class university students who will be in debt for the rest of their lives. They are educated debt serfs held in check by their credit ratings and an unrelenting collector in the federal government (which incidentally gets the money it loans to students for free.)
(From Rolling Stone)
First in line are the colleges and universities, and the contractors who build their extravagant athletic complexes, hotel-like dormitories and God knows what other campus embellishments. For these little regional economic empires, the federal student-loan system is essentially a massive and ongoing government subsidy, once funded mostly by emotionally vulnerable parents, but now increasingly paid for in the form of federally backed loans to a political constituency – low- and middle-income students – that has virtually no lobby in Washington.
Next up is the government itself. While it’s not commonly discussed on the Hill, the government actually stands to make an enormous profit on the president’s new federal student-loan system, an estimated $184 billion over 10 years, a boondoggle paid for by hyperinflated tuition costs and fueled by a government-sponsored predatory-lending program that makes even the most ruthless private credit-card company seem like a “Save the Panda” charity.
Image credit: http://www.againstcronycapitalism.org
About Nick Sorrentino
Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant with clients across the political spectrum, he lives just outside of Washington DC where he can keep an eye on Leviathan.
A remarkable anti-crony capitalist video manifesto
Like I said I have no idea who this guy is. Saying that, this 12 minute analysis of our current crony capitalist system is damn good. It’s white lightning so be warned. Distilled and powerful.
Published by minivanjack
Notes from the video:
Journalists and political partisans have expressed the mistaken presumption that government is a “balancing force” against the excess powers of corporations. This video explains that most excess power of corporations is provided and granted by government and that government seeks partnership with corporations and shares in the profits. This “public-private partnership” is so advanced that the public interest is no longer a primary concern of government. Government is now a for-profit operation serving itself at the expense of the public interest.
Posted by Judy Morris
Jesse Ventura: “No one should profit financially from war.”
WASHINGTON, July 1, 2013 ― Former Minnesota Governor Jesse Ventura ― author, Navy veteran, professional wrestler, visiting fellow at Harvard’s Kennedy School ― has never pulled his punches on politics. The title of his book “Democrips and Rebloodlicans,” which is now out in paperback, makes that crystal clear. His views of Presidents Bush and Obama don’t fit neatly into party lines.
His next book, “They Killed Our President: 63 Reasons to Believe There Was a Conspiracy to Assassinate JFK” is set to release in October…..
Ventura: I follow the teachings of Major General Smedley Darlington Butler, United States Marine Corps. He won two Congressional Medals of Honor, and he wrote the highly controversial antiwar book “War is a Racket.” The only way you can stop war is to take the profit makers out of it. People like Halliburton, who make billions of dollars because we go to war. No one should profit financially from war. It’s that plain and simple.
Read the rest at The Washington Times, here.
Congress doubles student loan interest rates
Published by RTAmerica
Due to Congress’s failure to vote on whether or not to keep interest rates on student loans at 3.4 percent, on Monday that number doubled to 6.8 percent. Lawmakers had more than a year to decide on whether to alleviate the financial burden on college students. This increase will affect approximately 7 million students but not those who already have loans. Robert Applebaum, executive director with StudentDebtCrisis.org, breaks down the numbers.
Once again Congress proves that if the members were paid minimum wage they would still not be earning their keep.
By Dr. Mercola
The National Institutes of Health (NIH) is actually the second-highest funding source for drug studies (first is the drug companies, themselves). Many assume NIH-funded studies are unbiased, but NIH accepts a great deal of money from Big Pharma and is deeply enmeshed with the industry,
The revolving door between government and the pharmaceutical industry had barely stopped spinning from January 2011, when Elias Zerhouni, former director of the NIH — one of the world’s foremost medical research centers, and an agency of the U.S. Department of Health and Human Services — became the president of Sanofi-Aventis’ research labs.
Now another NIH leader – Gary Nabel, one of NIH’s most prominent researchers who heads up the agency’s Vaccine Research Center (VRC) – has announced that he will become chief scientific officer at Sanofi in December 2012…
Why are Top Government Researchers Moving Over to Big Pharma?
Nabel, who said about his former VRC position that there was “nothing about the job that I don’t like,” said he decided to switch to Sanofi because it would cut his commute time.
It’s a position he is ideally suited for, considering his extensive connections with the government agency.
It was actually Elias Zerhouni who recruited him for the position. As the former director of the NIH, and now the head of Sanofi-Aventis’ research labs, as well as a professor at Johns Hopkins School of Medicine, a member of the Board of Trustees at the Mayo Clinic, and a senior fellow for the Bill & Melinda Gates Foundation’s Global Health Program, Zerhouni is no stranger to conflicts of interest.
In the fall of 2003, the NIH — with Zerhouni at its head — faced grave accusations when it came to light that hundreds of its scientists had financial ties to the medical and pharmaceutical industries. According to a 2004 article in the NIH Record,1 over 100 scientists did not get approval for their industry activities, even though the rules were so loose virtually all requests to conduct outside work were approved by the agency, without any limits on compensation or hours worked for outside entities.
Nabel says he “shares Zerhouni’s vision to put Sanofi “in the first tier of scientifically driven research organizations in pharma, along the lines of what Genentech did in the ’90s.”
The revolving doors between government and industry have effectively led to a situation where it’s now extremely difficult, if not impossible, to trust conventional health advice from the federal government — which is supposed to be independent — due to this massive collusion between government and industry.
Published on Oct 22, 2012 by TheBigPictureRT
So, your Nobel Peace Prize-winning European Union is demanding that indebted nations like Greece and Portugal privatize all their water resources if they want to continue receiving bail outs. As in – you want to stay in the Eurozone? Then hand over your most precious commons to transnational corporations. This is in line with the broader privatization agenda we’re seeing all around the world – especially here in America as water, roads, school, prisons – you name it – are all being privatized and taken out of the hands of “we the people.” These are all assaults on democracy.
For your reference:
On top of already ubiquitous surveillance cameras and facial recognition technology, there’s no refuge for Americans as the location of their cars are also relentlessly tracked, report Julia Angwin and Jennifer Valentino-Devries for the Wall Street Journal:
For more than two years, the police in San Leandro, Calif., photographed Mike Katz-Lacabe’s Toyota Tercel almost weekly. They have shots of it cruising along Estudillo Avenue near the library, parked at his friend’s house and near a coffee shop he likes. In one case, they snapped a photo of him and his two daughters getting out of a car in his driveway.
Mr. Katz-Lacabe isn’t charged with, or suspected of, any crime. Local police are tracking his vehicle automatically, using cameras mounted on a patrol car that record every nearby vehicle—license plate, time and location.
“Why are they keeping all this data?” says Mr. Katz-Lacabe, who obtained the photos of his car through a public-records request. “I’ve done nothing wrong.”
Until recently it was far too expensive for police to track the locations of innocent people such as Mr. Katz-Lacabe. But as surveillance technologies decline in cost and grow in sophistication, police are rapidly adopting them. Private companies are joining, too. At least two start-up companies, both founded by “repo men”—specialists in repossessing cars or property from deadbeats—are currently deploying camera-equipped cars nationwide to photograph people’s license plates, hoping to profit from the data they collect.
The rise of license-plate tracking is a case study in how storing and studying people’s everyday activities, even the seemingly mundane, has become the default rather than the exception. Cellphone-location data, online searches, credit-card purchases, social-network comments and more are gathered, mixed-and-matched, and stored in vast databases.
Data about a typical American is collected in more than 20 different ways during everyday activities…
[continues in the Wall Street Journal]
By Mike Adams, the Health Ranger
GMO labeling victory! Measure accepted onto California ballot; now the real battle begins
(NaturalNews) In this breaking news for the food-conscious community, the California Secretary of State has just announced that the GMO labeling ballot measure has met and exceeded the requirements to be placed on the November ballot. (http://www.sos.ca.gov/admin/press-releases/2012/db12-068.pdf) and (http://www.labelgmos.org/we_made_it_on_the_ballot)This measure, which has been strongly pushed by the Organic Consumers Association, the Institute for Responsible Technology, and a large number of dedicated volunteers and donors, would require genetically engineered ingredients to be indicated on food labels. This is an honest labeling issue that would allow consumers to make informed decisions about what they choose to purchase and consume.
504,760 signatures were needed to qualify for the November ballot, and the GMO labeling signature effort has greatly exceeded this number. Tremendous thanks are due to all those who fought for this honest labeling initiative. NaturalNews has consistently covered this issue from day one, and has helped drive significant awareness and funds to this GMO labeling effort.
A passage of this initiative could spell the end of GMOs in America, as food producers already know that if given a choice, 90+ percent of consumers would choose to avoid genetically engineered food. For this reason, food producers would be forced to switch to non-GMO sources for their food ingredients. This, in turn, would see a near collapse of GM seeds being planted in fields across America.
The disinfo war begins
Of course, Monsanto, DuPont, Big Agriculture and the food industry don’t want consumers to know what’s in their food. They profit when consumers are kept in the dark, and they will spend tens of millions of dollars to spread disinformation about this initiative in order to influence California voters to vote it down.
Thus, the next great battle begins: The battle for voting YES on the ballot measure. Expect NaturalNews and all the same allies who advocated the ballot measure to now shift gears and start educating voters to support the ballot measure.
By Rady Ananda
At the G8 Summit held two weeks ago at Camp David, President Obama met with private industry and African heads of state to launch the New Alliance for Food Security and Nutrition, a euphemism for monocultured, genetically modified crops and toxic agrochemicals aimed at making poor farmers debt slaves to corporations, while destroying the ecosphere for profit.
And Bono, of the rock group U2, is out shilling for Monsanto on this one.
It’s phase 2 of the Green Revolution. Tanzania, Ghana, and Ethiopia are the first to fall for the deception, with Mozambique, Cote d’Ivoire, Burkina Faso and other African nations lining up for the “Grow Africa Partnership,” under Obama’s “Global Agricultural Development” plan.