Fighting for the Soul of the American Dream - by Stephen Lendman
Republics are nations where heads of state aren't monarchs or despots in which citizens elect officials to represent them.
<blockquote>Merriam Webster calls them "government(s) in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law."</blockquote>
Thomas Paine once said:
<blockquote>"a republic is supposed to be directed by certain fundamental principles of right and justice, from which there cannot, because there ought not to, be any deviation."
"(It) is executed by a select number of persons, who act as representatives, and in behalf of the whole, and who are supposed to (govern) as the people would do were they all assembled together...."
"When a people agree to form themselves into a republic (they) mutually resolve and pledge themselves to each other, rich and poor alike, to support this rule of equal justice among them....A republic, properly understood, is a sovereignty of justice, in contradistinction to a sovereignty of will."</blockquote>
America never followed Paine's principles. Since the 1980s, Democrats and Republicans adopted neoliberal harshness. Bush I continued Reagan's policies. Clinton hardened them. Bush II much more, and Obama matched Star Trek by going where no administration went before.
For decades, working Americans were sacrificed on the alter of unprecedented wealth transfers to Wall Street, other corporate favorites, and super-rich elites grabbing all they can and wanting more.
Industrial America was hollowed out. Monopoly finance capital replaced it. Casino capitalism thrived. So did unbridled government-sanctioned fraud on an incalculable scale.
<blockquote>Keynes once warned about "enterprise becom(ing) the bubble on a whirlpool of (destructive) speculation," causing Depression level hard times.</blockquote>
Wall Street insiders profit all the way to the bank. Privatized money power lets them own politicians and America. As a result, they strip-mine it for profit, rip off investors and homeowners with impunity, grab everything that smells money, and come back for more.
For decades, they engineered housing and debt bubbles built on fraud. They illegally shifted trillions of dollars to tax havens and other foreign locations. Through privatization piracy, they transfered public assets to private hands at below market prices and offloaded liabilities back to government.
They engineered an incalculable multi-trillion dollar heist, and bribed political Washington to facilitate it. They hollowed out America and other Western countries in the process on the way to destroying middle class societies.
Allied with politicians they buy like toothpaste, they established a government-business cabal for enormous profits through legislation, contracts, deregulation, handouts, and free-wheeling ability to do what they please.
In the process, America's dream was destroyed. Money power in private hands to make more of it made it possible. Privatizing profits and socializing losses sacrificed Main Street for Wall Street.