Fear, Anger and Courage in the Gilded Age
Doesn't it seem strange that while many cities and states are running huge deficits and home foreclosures are on the rise oil companies like Chevron and Exxon are recording record profits? Meanwhile, the Federal Reserve Bank, a private banking system parading as a public entity, justifies bailing out the large money center banks who were responsible for creating the "housing bubble" through speculation in sub-prime loans, are now using this new found money to finance a new speculative bubble in commodities driving up the price of gas and food.
Do you wonder why two income households are the norm today while executives like Exxon Mobil Corp Chief Executive Rex Tillerson's salary rose nearly 18 percent to $21.7 million in 2007, when the oil company pulled in the largest profit ever for a U.S. company? Tillerson's take-home pay package included $1.75 million in salary, a $3.36-million bonus, and $16.1 million of stock and option awards, according to a company filing with the U.S. Securities and Exchange Commission.
Exxon is not an atypical example of executive compensation in this modern "gilded age" Unfortunately, you will not find the answers in our corporate run media outlets or from politicians who are dependent on corporate campaign contributions. Oh sure, the candidates will debate all day long about the Iraq war, Iran, taxes, the economy, global warming, as if they are all disconnected issues that have little or no relationship with special private corporate influence over the state.
Chris Hedges is one of the few political commentators left on the American political stage willing to challenge corporate dominance head-on by explaining how multinational corporations profit from war privatization, "free trade" packs, and the decline of unions as they attempt to establish a tyrannical national security state whose major objective is to eliminate dissent and maintain the pro-corporate status quo.
Here is link to a keynote address by Chris Hedges on Wednesday, May 28, in Furman University's Younts Conference Center. The address was part of protests by faculty and students over the South Carolina college's decision to invite George W. Bush to give the May 31 commencement address.
The Corporate State and the Subversion of Democracy
Right Panel: Links and various text items here.