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How Capitalism Is Dismembering America

If there's any way capitalism can work, it has to be regulated. Otherwise greed takes over.

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·         Bank of America, with 82% of its revenue in the U.S., declared $7 billion in U.S. losses and $10 billion in foreign profits.

·         Citigroup, with 42% of its revenue in North America (almost all U.S.), declared a $5 billion U.S. loss and a $28 billion foreign profit.

·         Pfizer, with 40% of its revenues in the U.S., declared almost $7 billion in U.S. losses to go along with $31 billion in foreign profits.

·         Abbott Labs, with 42% of its sales in the U.S., declared a $256 million U.S. loss and $12 billion in foreign profits.

·         Dow Chemical, with 32% of its sales in the U.S., declared a $15 million U.S. loss against foreign profits of over $5 billion.

Conclusions

If there's any way capitalism can work, it has to be regulated. Otherwise greed takes over. Blind greed. The sneering head at the top of the body watches limbs being chopped off, but it doesn't seem to recognize that we're all bleeding to death.

 

Paul Buchheit is a college teacher, a writer for progressive publications, and the founder and developer of social justice and educational websites ( UsAgainstGreed.org, PayUpNow.org, RappingHistory.org).

 
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