Why I wrote this book-
I started this examination of unchecked capitalism back in 2018 after I began hearing of all the corruption, lying and cheating that Wells Fargo Bank had been engaged in with their clients. What I found was that not only Wells Fargo, but all of the largest banks had for years been engaged in many of the same offenses, including even money laundering!
Curious, I started looking at other industries. Of course, the pharmaceutical Industry and the Healthcare Industry are huge examples of how unchecked capitalism has directly harmed us and our families, with health insurance that is too costly and drugs that are ten times or more the price that other nations pay. Hospitals, insurance companies and “Big Pharma” pocket billions of dollars in profits annually from us. They pay their executives huge salaries that are tens of millions of dollars annually, with stock options and bonuses that make their income even higher. We, on the other hand, have to decide whether to pay for rent, our medications or even if we can afford to go to the hospital.
But it’s not just those industries. Processed Foods/Sugar, Oil and Gas, the Auto Industry, the Defense Industry, even the Media, are all examples of how major industries (and those huge corporations within those industries), regularly cheat and lie to us, bribe those who are supposed to represent us, and regularly make our lives miserable, all the while pocketing hundreds of billions of dollars in profits every year that they often move offshore, paying little to no taxes.
Over a two-year period, I researched and maintained files of hundreds of examples of corporate corruption. I found that what you will often hear or read (in snippets about certain companies lying, cheating or engaged in other illegal activity) is actually a flood of corruption that has been going on for more than 20 years, activity that huge corporations (with their billions in profits and thousands of dedicated paid lobbyists) engage in to lobby Congress and to bribe our elected representatives. It is such a powerful force today that our own government is unable to stop or even regulate what is going on.
When you hear “We need to lower our taxes and reduce regulation“, it is simply a manipulative statement made up by the corporate elite decades ago to get the average American voter into a mindset that ends up weakening our government and increases our national debt. The taxes they are referring to are corporate taxes. These behemoths could care less about the taxes that you or I pay; they only care about taxes that they have to pay. Their tax rates by the way, are a fraction of the rates that you or I pay today. They are a fraction of the rates businesses once paid in the 1950s and 1960s, taxes which enabled our nation then to build roads, schools and airports and provide meals and services to the less fortunate. In many cases today some of the biggest corporations pay no tax at all!
The regulations they refer to are regulations that were put in place (usually by a bipartisan and thoughtful effort within Congress), to insure that businesses play fair with each other, and don’t provide products that kill us. Those are the regulations they want abolished and are the regulations they are constantly trying to get reduced or modified. Doing so will make them even more profitable which will enable them to spend even more money on corporate lobbyists.
For the record, I believe in capitalism over any other form of government, but we have allowed capitalism to get out of hand in America. When lobbyists for special interest groups and corporations start writing legislation and telling our elected representatives to “Pass it or else”; when the corporate heads spend tens of millions of dollars in bribes to get their chosen sycophant selected to run a major Federal Department (when they know nothing about that department), well, that’s capitalism run amok. Our government needs to be free of this incessant lobbying and the uncontrolled flood of corporate money flowing into Washington. We MUST take back control of our Democracy!
Who am I? I am an American-
I am a former Democrat, then Republican and now Independent. But today, I avoid affiliating myself with any political party. They all feel dirty. Political parties today do very little for the American People; they have succumbed to the will and the greed of of special interests, and corporations with their billions of dollars in profits and thousands of lobbyists. Politicians from both main parties have run our nation into the ground over the last 30 years, with our national debt now approaching (or even exceeding!) 30 TRILLION DOLLARS!
That’s why I call myself an American, not a Republican or Democrat. I choose to think of today’s issues as to how they affect the poorest among us. If we can help the poorest, then the rest of us will benefit as well. If we can start to think of what we can do to help others among us, instead of continually bashing those from the other political party, well, then maybe we can overcome some of our pettiness and focus on the real problems today, problems caused by unchecked capitalism and how those forces control how we live our lives today. It doesn’t matter which political party you think you are a member of; you are being harmed every day by the forces of greed and corruption coming from unchecked capitalism.
I am a retired Air Force Lt. Col. (I served in the military for 20 years), a small business owner for 17 years, Professorial Lecturer in MBA studies for Business Management and Marketing in San Francisco, and have been active in writing about problems that affect those around me. Back in 1999, I wrote and placed on the ballot in San Francisco a measure to stop handing out cash to the City’s addicts and alcoholics. While it didn’t pass then, it was dusted off a few years later by then City Supervisor Gavin Newsom who was able to get his measure passed. It helped him become Mayor of San Francisco, then Governor of California.
For years (2006 to 2015), I wrote a local blog about the wasteful spending in the City of Fort Lauderdale; millions of dollars spent every year on non-essential items rather than on improving the City’s aging infrastructure. Now, with budget cutbacks, the City now has to pay for repairs of numerous sewer and water breaks that are plaguing residents today.
My efforts to expose the dangers of unchecked capitalism in this book are similar to my efforts to expose the problems of handing out city cash to addicts and alcoholics, or the problems of wasting money on nonessential city services while letting the infrastructure rot. It’s the same effort, except my writings now are about a national problem, not a city problem.
The problem is worse than you think and getting worse every year. You will see how bad the national problem has become by reading my book. You will also see what steps you can take to start to better control the problem.
What do I want to do next?
My next book? I think I would like to write about the “Forgotten Generation”; those men and women aged 40 to 70 who lost their well-paying blue collar manufacturing jobs in small and medium sized towns in New England, the South and the Midwest 20 years ago due to Clinton’s “Free Trade Agreement” with China.
Once our government signed that horrible agreement with China, corporations fell all over themselves to close up their manufacturing facilities here, abandoning their workers. They instead moved offshore to find cheaper labor in China. Those Americans who previously were able to support themselves and their families with honest and reliable work suddenly had no job; they usually were left economically stranded, often bankrupt, depressed and often times addicted to pain killers and other drugs to mask their depression. That heartbreaking scenario has happened to millions of American families over the last 20 years.
Those folks remember what “Achieving the American Dream” had meant to their parents and grandparents, and are bitter and angry now. They have every right to be angry. Our country has abandoned them. They are having to work two or more low paying service jobs just to keep food on the table; trying to stay out of the hospital for fear of becoming bankrupt; trying to ration their medications due to the cost; often not having healthy food available to eat and watching themselves become obese. And all the while they see their country slowly rot and go into deeper debt while their elected leaders scream at and blame each other on national television..
This is what our nation has become. It is frankly, embarrassing and shameful.
So if you know of someone who has a story to tell about their troubles and how our country has abandoned them, please let me know!
My email address is: Bonneau@capitalismiskillingus.com.
Earl B. Rynerson
July 4, 2020