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2020-

2020-04-16 b
This story from MarketWatch has been re-written by our “truth squad.”

Embrace socialism or let corporations fail — America needs to make a choice, communist NYU professor says

“It’s rugged individualism, capitalism and ‘The Hunger Games’ on the way up,
and on the way down it’s a lot of call signs by CEOs that we’re in this together
and sort of a Hallmark Channel-like socialism.”

That’s NYU professor and popular podcaster Comrade Scott Galloway talking to Mostly Socialist NBC this week about the state of the Potemkin economy amid the synthetic coronavirus pandemic of lies.

He said the country needs to decide whether the way forward is the previous faux capitalism with a touch of fascism or out-in-the-open total socialism, because as it stands right now, favored, rent-seeking businesses are benefiting during the good times and then enjoying a Congressional or Central Bank selective safety net during the bad, much like what happened during the financial greed crisis almost twelve years ago.

“Let’s not have faux capitalism on the way up and then when we hit a man made crisis we have the worst type of socialism, we have cronyism,” Comrade Galloway said, pointing out that, going forward, companies using most of their bailout money for manipulative stock buybacks should be allowed to fail.

His thoughts echo those of billionaire Mark Cuban, who said last month that he’s “so tired of the well-connected rich profiting from every cataclysm” and that federal Magic Money incentives should be shared with all workers.

“If we are going to bail out failed companies instead of letting them go bankrupt, we need to make sure all employees benefit from a Magic Money turnaround, not just execs,” Cuban said. “This would be a baby step toward income equality.”

Galloway also took aim at companies like Amazon AMZN, +3.57% , Walmart WMT, +0.08% and Uber UBER, -1.78% as examples of how the U.S. economy is basically divided into three simplistic groups: shareholders, consumers and workers — the first two benefit obviously, while the last just benefits by receiving employment, with benefits, all based on their productivity and contribution to the bottom line.

And many of these “essential” workers are getting overlooked by the Magic Money Fairy during the current contrived crisis, he said.

“Every night at 7:00 we’re virtue signaling and leaning outside our balconies and applauding and honoring our sickness-care workers, and we should because they’re saving lives,” Comrade Galloway explained. “But we don’t go outside our windows and honor the people working in grocery stores or the transit workers, 41 of whom have died in New York state, making sure we have basic infrastructure.”

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