View Full Version : Bill Moyers: Plutocracy and Democracy Don't Mix

07-04-2012, 05:19 PM
Bill Moyers Essay: Plutocracy and Democracy Don't Mix
by BillMoyers

An excerpt from "Bill Moyers Journal"
(premiered April 30, 2010)

BILL MOYERS: You've no doubt figured out my bias by now. I've hardly kept it a secret. In this regard, I take my cue from the late Edward R. Murrow, the Moses of broadcast news.

Ed Murrow told his generation of journalists bias is okay as long as you don't try to hide it. So here, one more time, is mine: plutocracy and democracy don't mix. Plutocracy, the rule of the rich, political power controlled by the wealthy.

Plutocracy is not an American word but it's become an American phenomenon. Back in the fall of 2005, the Wall Street giant Citigroup even coined a variation on it, plutonomy, an economic system where the privileged few make sure the rich get richer with government on their side. By the next spring, Citigroup decided the time had come to publicly "bang the drum on plutonomy."

And bang they did, with an "equity strategy" for their investors, entitled, "Revisiting Plutonomy: The Rich Getting Richer." Here are some excerpts:

"Asset booms, a rising profit share and favorable treatment by market-friendly governments have allowed the rich to prosper...[and] take an increasing share of income and wealth over the last 20 years..."

"...the top 10%, particularly the top 1% of the US-- the plutonomists in our parlance-- have benefited disproportionately from the recent productivity surge in the US...[and] from globalization and the productivity boom, at the relative expense of labor."

"...[and they] are likely to get even wealthier in the coming years. [Because] the dynamics of plutonomy are still intact."

VIDEO (http://vimeo.com/32805018)

Gayle in MD
07-06-2012, 03:38 AM
The biggest threat to our country, which is a representative democracy, destroyed by the RATS, Roberts, Alito, Thomas and Scalia.

Our only hope is that Scalia and Thomas will continue to stuff their ugly faces and drop over prematurely! /forums/images/%%GRAEMLIN_URL%%/laugh.gif

That's what it took to get rid of Falwell. He tripped over his own jowels, and hit his head on his fifty thousand dollar mohogany desk. /forums/images/%%GRAEMLIN_URL%%/shocked.gif /forums/images/%%GRAEMLIN_URL%%/wink.gif

Glad I don't have to listen to that hateful POS anymore!