The Cancer Stage of Capitalism
Economies are life forces – interdependent systems built upon the facts of life and living. “Life capital” as Ellen’s noted guest Dr. John McMurtry says, is at the heart of true economic reckoning, and money is merely one derivative. McMurtry describes Capitalism as being in a cancerous stage in which it’s being devoured from within by metastasizing greed and self-interest, devouring all living materials in its path. Similarly, we look at the new What Wall Street Costs America project and get specific about how that cancer reality looks in Jefferson County, AL, which declared bankruptcy after buying into toxic interest rates swaps from Wall Street salesmen. One thing though – we also talk about the antidote for that cancer: public banks!