Feeds:
Posts
Comments

Archive for December 10th, 2013

A couple of weeks ago, Pope Francis denounced the “idolitry of money” and the worship of the “autonomy of the market.” However, it should be pointed out that markets are not autonomous, that they are largely controlled mostly by one to ten major manufacturers of goods and services, who act in concert to raise prices to meet Wall Street expectations. Those expectations are always higher profits than the previous quarter, and everything else be damned.

For example, most homes are constructed using sheet rock, or what is also known as drywall. Early this year, a friend of mine named Sloan, who is a home builder, received a letter from two retailers letting him know that drywall prices are rising 20 percent because all of the manufacturers of drywall are simultaneously jacking up their prices. This is called a conspiracy in restraint of trade, but the financial markets require prices, profits and stock prices continue to always rise. This means violating the law. This requires price fixing by the manufacturers of goods and services in almost every economic category. This is, of course, nothing less than an income redistribution scam since ultimately, the 99 percent purchase the goods and services and the 1 percent receives the profits. As an aside, I should mention that sheet rock prices jumped up 35 percent in 2012, and there is a lawsuit moving through the courts to break up this drywall cartel, which includes all of the drywall market in all of North America. Also be aware, that these price increases are inflationary. In effect, they are what cause inflation, for the most part.

This, of course, isn’t capitalism in any traditional sense. This is a controlled economy created to redistribute income from the 99 to the 1 percent. We live in an economic rigged game.

This is precisely why, during these economic weak times, corporate profits reached an all-time high during the third quarter of 2013. Prices are rigged upward. Wages and salaries are rigged downward. So that profits, dividends and share prices are rigged upward. It’s a massive economic scam perpetrated on the 99 percent by the parasites of the 1 percent, the government and the corporate propaganda machine.

Check out the link below for how drywall manufacturers have conspired to jack up prices to keep their profits moving up, which pushes up their dividends and stock prices.

Continent-Wide Price-Fixing Alleged in Drywall Industry–Courthouse News

Advertisements

Read Full Post »

%d bloggers like this: