CIA TOTALITARIANISM
Verified User
All of your personal attacks don't change the fact that's it's the stupidity of globalization that is destroying our economy, not "regulation".
The Rich vs. Poor Pay Gap In America; When will the people say "enough is enough"..
- Thread starter Anti-Party
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All of your personal attacks don't change the fact that's it's the stupidity of globalization that is destroying our economy, not "regulation".
Wrong again; but then being wrong appears to be a state of mind with you. But if you have a credible link that will support your erroneous conclusions I am all eyes and ears.
CIA TOTALITARIANISM
Verified User
http://endoftheamericandream.com/ar...sinesses-and-national-wealth-in-10-easy-steps
How Globalism Has Destroyed Our Jobs, Businesses And National Wealth In 10 Easy Steps
By Michael Snyder, on July 13th, 2011
As most Americans stand around waiting for the U.S. economy to return to “normal”, there is a never ending parade of jobs, businesses and wealth heading out of the United States. The jobs and businesses that are leaving are gone for good and will not be coming back. This is causing unemployment to soar and government debt to skyrocket but our politicians are doing nothing about it. Instead, politicians from both parties keep insisting that they will solve all of our problems if we will just give them our votes. Meanwhile, American families continue to fill up their shopping carts with cheap plastic crap made on the other side of the world. Globalism is slowly destroying the greatest economic machine that the world has ever seen and most Americans don’t even realize it. Today, the U.S. government has surrendered massive amounts of economic sovereignty to global organizations such as the WTO, the IMF and the World Bank. The United States has also entered into a whole host of very damaging “free trade agreements” such as NAFTA that are costing our economy huge numbers of jobs. Our politicians always promised us that globalism would bring us to a new level of prosperity, but instead that “giant sucking sound” that you hear is the sound of the U.S. economy being hollowed out.
Our politicians and the talking heads in the mainstream media always seem to be puzzled as to why there seems to be such a lack of jobs in this country.
But it really is no great mystery.
Jeffrey Pfeffer recently wrote an article for Fortune in which he stated the following….
The U.S. seems to be shocked that its economy isn’t creating many jobs, and each monthly report on the unemployment rate and the number of new jobs somehow stimulates more handwringing. I’m not an economist, labor or otherwise, but simple observation suggests one significant contributor to the nation’s job crisis — for a long time, maybe even decades, we have been waging war on jobs and those who hold them.
That is exactly what the policies of the U.S. government have been doing for decades – they have been waging war on jobs.
Both political parties have been eagerly pushing us into a globalized economy. Both political parties have told us not to worry as thousands of businesses, millions of jobs and trillions of dollars have left the country.
Well, so much damage has been done by this point that more Americans than ever are starting to wake up and realize that maybe globalism is not such a great thing after all.
Here is how globalism has destroyed our jobs, our businesses and our national wealth in 10 easy steps….
#1 Globalism has merged the U.S. economy with economies that allow slave labor wages.
The “minimum wage” became a whole lot less meaningful once we merged our economy with the economies of nations where it is legal to pay workers 50 cents an hour.
American workers have enjoyed all of the cheap products that have come flooding into our shores, but our politicians never told them that globalism would also mean that they would soon be directly competing for jobs with workers on the other side of the globe that are willing to work for 5 or 10 percent as much.
One big, global labor pool means that the standard of living of the hundreds of millions of workers on the other side of the world will come up slightly while the standard of living of American workers will come crashing down at a blinding pace.
Advocates of globalism never can seem to explain how U.S. workers are supposed to compete with teenage workers in Vietnam that often work seven days a week for as little as 6 cents an hour making promotional toys for big corporations.
#2 U.S. companies make bigger profits by sending jobs overseas.
If U.S. corporations can find a place where they can legally pay workers slave labor wages, what do you think they are going to do?
Corporations have a “duty to maximize shareholder wealth” and U.S. government policies actually have the effect of encouraging the offshoring of jobs.
This is even happening in industries that are on the cutting edge of new technology.
Andy Grove, the former CEO of Intel, says that our advanced technology companies are creating far more jobs overseas than they are in the United States….
Some 250,000 Foxconn employees in southern China produce Apple’s products. Apple, meanwhile, has about 25,000 employees in the U.S. That means for every Apple worker in the U.S. there are 10 people in China working on iMacs, iPods, and iPhones. The same roughly 10-to-1 relationship holds for Dell, disk-drive maker Seagate Technology (STX), and other U.S. tech companies.
#3 Globalism has allowed foreign countries to dominate a whole host of industries that used to be dominated by the United States.
U.S. companies are having an incredibly difficult time competing against the low labor costs and the much less stringent business regulations found on the other side of the globe.
In May, the United States spent 50 billion dollars more on goods and services from the rest of the globe than they spent on goods and services from us.
This happens month after month after month.
Every month we get tens of billions of dollars poorer and the rest of the world gets tens of billions of dollars richer.
We are getting clobbered even in industries that we invented.
Do you remember when the United States was the dominant manufacturer of automobiles and trucks on the globe? Well, in 2010 the U.S. ran a trade deficit in automobiles, trucks and parts of $110 billion.
In 2010, South Korea exported 12 times as many automobiles, trucks and parts to us as we exported to them.
How did this happen?
Well, there are a lot of reasons, but one big reason is that the business environment in the United States has become incredibly toxic. Businesses in this country face a nightmarish web of rules and regulations and that is a big reason why so many businesses are choosing to leave this country.
In a recent article for Forbes, John Mariotti made a list of just a few of the bureaucracies that U.S. businesses must contend with on a daily basis….
Medicare & Medicaid
Social Security
The Patient Protection and Affordable Care Act (Obamacare)
Dodd-Frank Wall Street Reform and Consumer Protection Act.
The Sarbanes-Oxley Act of 2002
SEC–Securities & Exchange Commission
FASB–Federal Accounting Standards Board
GAAP–Generally Accepted Accounting Principles
IRS–Internal Revenue Service
FTC–Federal Trade Commission
FDA–Food & Drug Administration
FAA–Federal Aviation Administration
FCC–Federal Communications Commission
EPA–Environmental Protection Agency
EEOC–Equal Employment Opportunity Commission
FLSA–Fair Labor Standards Act
NLRB–National Labor Relations Board
Labor Management Relations Act (The Taft-Hartley Act of 1947)
OSHA–Occupational Safety & Health Administration
CFTC–Commodity Futures Trading Commission
NFA–National Futures Association
PBGC–Pension Benefits Guaranty Corporation
ERISA–Employee Retirement Income Security Act
NHTSA–National Highway Transportation Safety Agency
CPSC–Consumer Product Safety Committee
NIOSH—National Institutes of Safety and Health
Employee Retirement Plans 401(k), 403(a) etc.
IRA–Individual Retirement Account
USPTO–U.S. Patent & Trademark Office
ITC–International Trade Commission
USTR—US Special Trade Representative
ICE–Immigration & Customers Enforcement
BLM—Bureau of Land Management
MSDS: Material Safety Data Sheets
#4 Jobs and manufacturing infrastructure are being lost at an astounding pace and they are not going to come back.
Jobs and manufacturing facilities are leaving this country at a blinding pace. Nothing is being done to stop this from happening. These jobs are not coming back and they are not being replaced.
Just consider the following statistics….
*The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
*Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
*The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.
*Since 2001, over 42,000 manufacturing facilities in the United States have been closed down.
So what are all of those workers doing today?
There are sitting at home trying to figure out what has happened to the once happy lives that they enjoyed.
Today, there are 6.3 million Americans that have been unemployed for more than 6 months. That number has risen by more than 3.5 million in just the past two years.
Right now, it takes the average unemployed worker almost 40 weeks to find a new job. There are not nearly enough jobs for everyone and the competition for the few job openings that are available is brutal.
Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history.
We have millions upon millions of very hard working Americans that are sitting around hoping that someone will give them a job.
But labor costs about 10 percent as much on the other side of the world so that is where all the jobs are going.
#5 Workers without good jobs can’t buy houses or cars.
A huge factor in the housing crash has been the lack of good jobs. There are now approximately 10 percent fewer middle class jobs than there were a decade ago.
As competition for jobs increases, wages are being depressed because employers know that they have all the power.
So working class American families are being squeezed like never before.
Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975. A nice home is becoming out of reach for a lot of Americans.
Meanwhile, the cost of food and the cost of gas continue to rise.
One recent survey found that 9 out of 10 U.S. workers do not expect their wages to keep up with soaring food prices and soaring gas prices over the next 12 months.
#6 If American workers don’t have jobs they aren’t paying taxes.
Most Americans have no idea how much our trade deficit contributes to our government debt problems. When Americans are not working, they are not paying taxes to support our federal, state and local governments.
In the years since 1975, the United States had run a total trade deficit of 7.5 trillion dollars with the rest of the world.
That is money that could have gone to U.S. workers and U.S. businesses. That is money that taxes could have been paid on.
Instead, our workers are sitting at home and our federal, state and local governments are starving for cash.
#7 Instead of receiving taxes, the government must pay out money to our unemployed workers instead.
We are going to support our unemployed workers one way or another. Either we are going to give them good jobs or we are going to give them welfare payments.
During the recent economic downturn, millions of American workers have been receiving unemployment benefits for up to 99 weeks. It has become soul-crushingly difficult to find a job in America today, and we have developed a whole new class of people that have become totally dependent on the government because they simply cannot find work.
Everywhere you look, government anti-poverty programs are exploding in size.
As 2007 began, there were 26 million Americans on food stamps. Today, there are more than 44 million Americans on food stamps, which is a new all-time record.
#8 As jobs and businesses leave our shores, many of our once great manufacturing cities have been transformed into hellholes.
In a recent article entitled “American Hellholes“, I talked about the economic decay that we are seeing all over the United States….
All over the nation many of our greatest cities are being slowly but surely transformed into post-apocalyptic wastelands. All over the mid-Atlantic, all along the Gulf coast, all throughout the “rust belt” and all over the entire state of California cities that once had incredibly vibrant economies are being turned into rotting, post-industrial hellholes. In many U.S. cities, the “real” rate of unemployment is over 30 percent. There are some communities that will start depressing you almost the moment that you drive into them. It is almost as if all of the hope has been sucked right out of those communities. If you live in one of those American hellholes you know what I am talking about. Sadly, it is not just a few cities that are becoming hellholes. This is happening in the east, in the west, in the north and in the south. America is literally being transformed right in front of our eyes.
#9 The United States ends up borrowing back most of the money that it sends overseas every single month.
Every month tens of billions of dollars of our national wealth gets transferred to foreign countries. In order to make ends meet, our federal, state and local governments end up borrowing gigantic amounts of money from the countries that we have sent our wealth to.
So now we have a national debt that is well over 14 trillion dollars and we owe massive amounts of money to countries like China and Saudi Arabia.
But when we borrow money from other countries that makes us even poorer in the long run. Debt is never the answer to anything.
#10 Foreign countries are using up some of the wealth that we send them every month to buy up our infrastructure.
Most Americans don’t realize that our state and local governments are selling off our infrastructure piece by piece. Foreign governments are literally buying pieces of America with the money that we keep sending to them. In a recent article entitled “Our Politicians Are Selling Off Pieces Of America To Foreign Investors – And Goldman Sachs Is Helping Them Do It“, I talked about this phenomenon….
State and local governments across the country that are drowning in debt and that are desperate for cash are increasingly turning to the “privatization” of public assets as the solution to their problems. Pieces of infrastructure that taxpayers have already paid for such as highways, water treatment plants, libraries, parking meters, airports and power plants are being auctioned off to the highest bidder. Most of the time what happens is that the state or local government receives a huge lump sum of cash up front for a long-term lease (usually 75 years or longer) and the foreign investors come in and soak as much revenue out of the piece of infrastructure that they possibly can. The losers in these deals are almost always the taxpayers. Pieces of America are literally being auctioned off just to help state and local governments minimize their debt problems for a year or two, but the consequences of these deals will be felt for decades.
Sadly, neither political party seems concerned about the effects of globalism at all.
In fact, both parties continue to push for even more globalism.
But large numbers of ordinary Americans are waking up.
According to a recent Washington Post poll, only 36 percent of Americans consider “the increasing interconnection of the global economy” to be a positive thing. Back in 2001, 60 percent of Americans believed that the globalization of the economy was a positive thing.
So maybe there is a glimmer of hope.
But until fundamental changes are actually made, globalism will continue to destroy our jobs, our businesses and our national wealth.
First lets clarify a few things here; Michael T Snyder is not an economist; he is a blogger. This is an OPINION piece from a blog site that contains a lot of assumptions and personal opinions.
He quotes Jeffrey Pfeffer who admits he is not an economist.
But here is where Michael gets it right quoting a Forbes article:
Well, there are a lot of reasons, but one big reason is that the business environment in the United States has become incredibly toxic. Businesses in this country face a nightmarish web of rules and regulations and that is a big reason why so many businesses are choosing to leave this country.
It isn’t that there is globalism; that was happening even before WWII. America just no longer has a monopoly on manufacturing thanks to her politicians and Unions.
So let’s assume that the issue is Globalism and not just the morass of legal red tape, taxes and legislation that stifles industry; what is the solution to ending such Globalism; tariffs?
Tariffs would cause an even greater catastrophic hit to an already weakened economy.
Globalization is not an issue between the US and European nations or Canada. It becomes an issue when it occurs in Asian nations with low environmental standards and easy approval of construction of facilities. But in addition, the cost of shipping goods from those nations to the US has to be accounted for.
Many nations have determined that it is more cost effective to produce their cars here in the US. However, they have also opted for the South Eastern US states for those massive investments in capital and labor.
When it comes to clothing, it appears that the massive costs here to manufacture offset the costs to ship this merchandise a great distance across the Pacific to the Atlantic destinations. No one will want to pay $50 for a T-shirt produced here if they can buy the same article for $10.
So the answer to Globalization is not to entrench; but rather educate and ensure that politicians and unions do not make it impossible to produce anything here at home.
Last, but never least; over time, these Asian markets that are now able to ignore wage rates and environmental rules will eventually be unable to continue to exploit their citizens and environment. This will level the playing field over time making the US market a better option for manufacturing resulting in a return to our shores.
What I never hear from those who choose simplistic arguments to blame economic malaise is a solution; and that solution is to reign in our desire to legislate almost every occurrence on the planet, force absurd environmental standards on our producers, continually raise taxes and the cost of doing business here and then whine that the Chinese are beating us at our own game.
So Globalization is an issue and has been one for decades, it is not the reason for our current economic malaise which can be directly attributed to a moronic economic policy of this Administration thinking it can manage an economy from the bottom up with Marxist class envy rhetoric and a fed policy that is basically printing money for wall street bankers.
Crashk
Unite or Die
I think the Truth Deflector's cheap chinese batteries are dead and need replacing.
Hey Truth Deflector... you just got bit by a zombie. LOL!
Does it make your stomach hurt to realize you've been a tool and the problems we face today are because of your party's traitorous greed. There's going to be a title wave alright but it won't be what you expect.
Hey Truth Deflector... you just got bit by a zombie. LOL!
Does it make your stomach hurt to realize you've been a tool and the problems we face today are because of your party's traitorous greed. There's going to be a title wave alright but it won't be what you expect.
Does it make your stomach turn to know that you are such a clueless dipshit? Nah, you're too stupid to even comprehend that you don't know what you are talking about and merely parrot the same old tired mornic DNC talking points of the left like a brain dead lemming.
CIA TOTALITARIANISM
Verified User
His analysis is correct. Deal with the facts instead of engaging in the logical fallacy known as the Ad hominem attack.
Robo
Verified User
Nothing curious about Christie being your favorite neo-con, Obama ass kissing, anti-second Amendment, tax raising, tub of fucking lard. He’s the typical north east gun grabbing Democrat who calls himself Republican. He raised property taxes on New Jersey’s senior citizens and his best political buddy is New Jersey’s Democrat President of the Senate Sweeny who is a BIG time NJ union boss and one time Business Manager of NJ’s ironworkers union. Christi is a fucking Drug Warrior and a militarist interventionist bastard out of the same mold as the fucking neo-con idiots John McCain and Lindsey Graham and that other fucking idiot from NY King.
Rand Paul on the other hand is one of few true Republicans in Washington. “Republican” in the traditional sense of “Constitutional” Republicanism and true classical conservatism in the tradition of Barry Goldwater and the “growing” libertarian wing of the Republican Party.
evince
Truthmatters
http://seekingalpha.com/author/michael-t-snyder
Michael T. Snyder
Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has two law degrees from the University of Florida. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now resides outside of Seattle, Washington. He is a very active blogger and is also a respected researcher, writer, speaker and activist. You can follow him on The Economic Collapse blog: http://theeconomiccollapseblog.com/
Michael T. Snyder
Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has two law degrees from the University of Florida. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now resides outside of Seattle, Washington. He is a very active blogger and is also a respected researcher, writer, speaker and activist. You can follow him on The Economic Collapse blog: http://theeconomiccollapseblog.com/
Anti-Party
Tea Is The New Kool-Aid
Again you don't know a thing about me because your head is so clouded with nonsense you predict what I think without reading.
I was stating Rand Paul would be president the day after I voted Obama in to prevent Corporate Mitt from destroying our Country for money. Until their little dispute that exposed Rand Paul as a positive deficit taker.
Meeting in the middle is what America wants to see most today. That is why I think Christie will get it. You can think he's a Democrat all you want but that's just your extremeist perspective and lack of education.
I asked you what "big government" is doing to prevent small business from growing and you didn't answer. I realize they can't get rich in their first week, but what exactly is Big Gov doing to make them not successful.
USFREEDOM911
MAKE AMERICA GREAT AGAIN
But do you really need a bigger cock in your ass?
Couldn't you just slow down, for a month or two, and maybe things will return to normal.
in bolded above - much agree,
Anti-Party
Tea Is The New Kool-Aid
Another troll noted. Too many posts with no substance at all. Only cares about guns and doesn't know much about them at all. Probably going on the ban list for being a childish internet troll.
We are here to discuss politics. Not to have simple minded 1 liners like "Your stupid" or what you said which was even more immature and childish. What are you 13?
Robo
Verified User
I know all I need to know about you Anti-Fox. You’re simply a leftwing dupe hysterical with envy and hatred of Fox News. You watch MSNBC religiously and beat off watching Rachel Maddow.
Christie is an obese tub of loudmouth shit. The lying bastard raised taxes on New Jersey’s senior citizens, kissed Obama’s ass for unconstitutional federal money, favors New Jersey’s over-the-top restrictive gun laws, opposes “conceal carry,” and the queer bastard sleeps with New Jersey’s Democrat President Of The State Senate Sweeny who was a BIG time Union boss in the New Jersey Iron Workers Local.
If you weren’t such a stupid fuck you might have understood my earlier post where I submitted that the tax laws and over regulation prevents smaller businesses from expanding or even remaining in business because the cost of that BIG fucking government intrusion into the market place is unaffordable except for major BIG corporations who can diversify and move their operations offshore to every corner of the world and hire lobbyist to bribe their duopoly partners in crime in Washington for tax credits and subsidies. The BIG government/BIG corporation racket is a godsend for BIG corporations. Everything is in their favor BIG government even eliminates smaller competition for them.
BTW idiot it ain’t just the fucking Republicans in government infested with the Wall Street bribery scam the fucking Democrats have an EQUAL fucking share of it.
Anti-Party
Tea Is The New Kool-Aid
So you think that Fox News lies. I beat off to Rachel Maddow the Lesbian. Chrisie is fat. Chrisite raised taxes to pay for expenses instead of ignoring them and being a fake Conservative. You call him a "kiss ass" for asking for federal revenue in worst case scenario conditions like a Hurricane(United We Stand). "And the queer bastard sleeps" <------did you even think about this before posting it?
"With a Union Boss" Well thank god for that, we need more Unions today. People need to demand their importance. This whole "rich deserve it all and asking them to stop spitting on the workers that help the process is socialism" movement is done. It's basic ignorance of politics and Christianity.
You now ridicule me on your inability to answer me directly and only stating what idiot profit media tells you to. There are MILLIONS of regulations that should be gone with and you can't name even one because you are a political newbie that follows media over information.
You then state the Democrats are equal share in the corruption that you admit to yet vote against the only party that admits to this corruption and wants to end it.
I don't think you are stupid, I just don't think you keep yourself up to date on information. You own and probably willingly carry the label "Out Of Touch"...............
Nothing more need be said; it's official, you're an idiot.
Robo
Verified User
You call him a "kiss ass" for asking for federal revenue in worst case scenario conditions like a Hurricane(United We Stand).
I’ll await your contribution of knowledge and evidence whereby you submit the Article or Amendment in our Constitution that authorizes the federal government to unload federal taxpayer’s revenue onto any State in the union.
Lord where should I start among the millions and millions of over-regulations?
How about we start with environmental over-regulation that dried up our one time wildcatters who discovered domestic energy and competed with the BIG boys who are now the only cartel that can afford the lobbying cost and off shore operations. Then there’s the millions of $ in government fees it takes to bring a new drug to market, whereby smaller pharmaceutical operations are shit-out-of-luck to compete. Then of course there’s the minimum wage laws environmental restrictions and the highest corporate tax rate on planet earth that put America’s textile and all sorts of other manufacturing business operations out of business. Then there’s the BIG banking operations with their crooked congressional and bureaucratic army of swindlers, insider traders and bailout bastards that gobble up small banking and enforce one-size-fits-all regulations to make banking as unsavory for small town bankers as possible. There’s a billion stories out there of business operations that were taxed and regulated into the bin of “was.”
The best thing about you Goober is the fact that if you’re allowed to tap away at your key board long enough you’ll surely reveal your fucking hypocrisy and pure stupidity.
Here you are claiming that Democrats admit being corrupt, then bemoan people that won’t vote for Democrats because, (I guess), Democrats admit to being corrupt but want to end their corruption. That’s like bemoaning people that wouldn’t vote for Al Capone just because he says he wants to become a nice fellow or Adolph Hitler because he says he wants to resurrect the 6 million Jews he murdered.
You sir are a fucking moron!!! Tell your third grade teacher to keep you back another year, you’re still too fucking stupid to advance to 4th grade.
I don't think you are stupid, I just don't think you keep yourself up to date on information. You own and probably willingly carry the label "Out Of Touch"...............
Opinions are like assholes, everybody is entitled to at least one Goober.
CIA TOTALITARIANISM
Verified User
Overregulation is not why businesses are moving overseas, it's the access to cheap labor they're after.
business needs to take place inside a context of other social concerns, like the well-being of all members of society. Otherwise it's just an extension of ancient feudalism.
The new world order = techno-feudalism with a side of genocide.
business needs to take place inside a context of other social concerns, like the well-being of all members of society. Otherwise it's just an extension of ancient feudalism.
The new world order = techno-feudalism with a side of genocide.
CIA TOTALITARIANISM
Verified User
The 99% will previal. Any other outcome is evil.
Wrong; if that were the case why would Toyota, Chrysler, GM, Ford and Boeing manufacture anything here?
The reality is that if US manufacturers could do all their manufacturing here; they would. It is easier to get goods to market rather than dealing with the pain shipping and importing goods from tens of thousands of miles away. But when you include the regulations, the labor costs and taxes make it cheaper to go through that pain, then you will do it in order to remain competitive with companies manufacturing in those markets.
It is none of business duty to take into consideration anything other than what they are willing to pay for that labor or service and what those who are giving up their labor are willing to receive; nothing more and nothing less. Altruism can come about from those who benefit from selling goods or services consumers want and are willing to pay for those goods and services. The businesses concern is a profit and a return on that investment.
Your Marxist views have NEVER worked throughout man’s history and will NEVER work, EVER. Man’s efforts to legislate such altruistic goals have NEVER worked, EVER.
I am always amazed that there are professorial buffoons who have never started a business or met a payroll who teach such gobbledygook in our schools given the historic documentation of these failures. But they are proof that one can be educated and still be incredibly naïve and stupid.
Warren Buffet and Bill Gates and thousands of others just like them have done more to help the poor engaging in such altruistic efforts than all the socialist Government attempts in history; and that is where it should be; in the hands of the communities and those who have benefited from this greatest and most successful of Capitalist societies.
This is nothing more profoundly stupid terminology for a profoundly stupid ideology.