A great investigative piece by Foreign Policy that shows just how much Donald Trump owes to Russian oligarchs and banks.
As the early 90s, American banks were finished with Trump and his money-losing ways. He was a terrible businessman. As late as 2003 he was in desperate financial trouble and pressed his siblings to sell off his late father’s estate which Fred Trump had warned them not to do when he was alive. Then he declared bankruptcy again in 2004.
But Trump made a comeback largely due to an influx of foreign capital in particular from Russia.
But remember, he has no business dealing with Russia. The Donald told us so himself…
I’m not sure why socialism is a “new capitalism,” but this is still a good piece from the Christian Science Monitor and spot on. As a longtime socialist myself (and a strong supporter of the NDP in Canada) I have seen much of this change in my own children and their friends. It’s been seven years since the Occupy Wall Street movement. While it didn’t make big inroads at the time, its ideas spread, particularly among young people.
On the one hand, you see the growth of corporations like Amazon, which has been tagged as being anti-worker for many of its practices. Yet even Amazon is paying its workers more money these days, attuned to the change in public perception about the way businesses treat workers.
There is something happening in the American economy. It’s not gonna happen all at once. But ten years from now the American economy will be a much socialist (in the Canadian or European model) as capitalist. Can’t happen fast enough for me.