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Tue Nov 13, 2012, 01:29 AM

Thom Hartmann: The Oligarchs Don't Understand Economic Collapse Happens When They Get All the Money [View all]

http://www.alternet.org/economy/danger-ahead-oligarchs-dont-understand-economic-collapse-happens-when-they-get-all-money

Thomhartmann.com / By Thom Hartmann, Sam Sacks

Danger Ahead: The Oligarchs Don't Understand That Economic Collapse Happens When They Get All the Money

The corporate masters seem to have forgotten they depend on working people for their own survival.


November 12, 2012

Letís face it, if your opponent in Monopoly scoops up Boardwalk, Park Place, North Carolina Avenue, Pacific Avenue, both utilities, and the four railroads Ė thatís game over.

The other players, all of whom have been relegated to mere consumers instead of property owners, will slowly go bankrupt having to pay higher and higher costs for rent and services, utilities, and transportation. Eventually, one player has all the money and the losers have to clean up the board game and put it away.

But letís assume the Monopoly game doesnít end there. Letís assume the broke players keep rolling the dice and keep going around the board. They essentially keep living their lives desperate and broke, using their credit cards and home lines of credit to stay in the game. Maybe they end up in jail. If theyíre lucky, they land on Baltic Avenue and can afford to stay a night in the slums.

Meanwhile, the oligarch who owns everything can no longer collect any income. The other players canít afford to pay rent, they canít pay utilities, and they canít ride on the railroads. Eventually, without consumers spending money, the Monopoly oligarch goes broke, too. His properties and businesses disappear and suddenly everyone is broke!

Thatís what Monopolyís version of economic collapse looks like. And itís very similar to what global economic collapse in the real world looks like, too.

Now put the Monopoly game board away and consider this: Researchers in Zurich, Switzerland have found that there are roughly 43,000 transnational corporations that dominate the global economy. Of those, there are about 1,300 companies that control 80% of all the global revenues for all the transnational corporations on the planet. Now letís take it a step further. Of those 1,300 core companies, only 147 companies, which all happen to own each other in some way, control 40% - or nearly half Ė of all the wealth in the entire transnational corporate network. That means 1% of transnationals own 40% of all the worldís business wealth.

In other words, the global 1% has its own 1%.

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Reply Thom Hartmann: The Oligarchs Don't Understand Economic Collapse Happens When They Get All the Money [View all]
Hissyspit Nov 2012 OP
DCKit Nov 2012 #1
Fire Walk With Me Nov 2012 #2
HooptieWagon Nov 2012 #3
Live and Learn Nov 2012 #4
Selatius Nov 2012 #5
Live and Learn Nov 2012 #6
Selatius Nov 2012 #7
Live and Learn Nov 2012 #8
Hissyspit Nov 2012 #9
reformist2 Nov 2012 #10
marions ghost Nov 2012 #11