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OpEdNews Op Eds    H1'ed 8/3/18

Financial parasitism and the American oligarchy

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Previous administrations had determined that adjusting for inflation would require authorization by Congress, meaning that a change by executive fiat would be illegal. But Mnuchin said, "If it can't get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we'll consider that."

This is an administration that demonizes millions of working people who come to the United States seeking safety and a better life, calling them "illegal aliens" because they are undocumented. But when it comes to the interests of the billionaires, there's no concern over what is legal, only over how best to fatten their portfolios.

What sustains the Trump administration, in the face of mounting popular hostility to its retrograde social policies, flagrant attacks on democratic rights and unbridled militarism, is the character of the nominal opposition. The Democratic Party is a party of Wall Street and the military-intelligence apparatus, no less dedicated than Trump to defending the interests of the corporate and financial elite.

There is not a single social problem that can be resolved so long as the corporate and financial elite rules over American and world economy. An end to the domination of these social parasites means an end to the economic system, capitalism, that exists to maintain and expand their wealth and power.

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Patrick Martin writes for the World Socialist Website (wsws.org), a forum for socialist ideas & analysis & published by the International Committee of the Fourth International (ICFI).
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