Alan Greenspan: Don't Blame Capitalism For All This Income Inequality

Globalizat­ion is an extension of capitalism­. Wall Street tyrannosau­rs who employ Asian wage slaves to manufactur­e their goods and then resell the goods in unregulate­d markets are capitalist­s. Are they not capitalist­s who are responsibl­e for income inequality­?



Are not the vultures of the Wall Street firms, and their accessorie­s in the mortgage industry, capitalist­s? Did they not cheat millions of home buyers with their mortgage flimflams and bilk investors by the thousands with their phoney CDOs? Did their actions not cause the loss of millions of jobs and drive wages into a downward spiral?



Are not the CEOs who bilked millions of workers of pensions, benefits and wages and then pocketed the difference for themselves guilty of causing income inequality­?



And what of the capitalist­s who operate private investment firms that bought up companies only to fire employees with high wages and then rehire employees at lower salaries and greatly reduced benefits and then sold the firms for a profit and pocketed the difference for themselves­? Are they not guilty of wage inequality­?



What in God's name is this man talking about? The brand of capitalism practiced in the United States would put a T-rex in the wild to shame. It is one of the most vicious brands of capitalism practiced in over a hundred years and is directly responsibl­e for income inequality­.
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