I’m on Michael Moore’s mailing list (you can be too), so I never miss any of his newsletters. For a sample of what we might expect in October from Capitalism: A Love Story, here are two extended excerpts from his two most recent letters. The first identifies Bernie Madoff as a scapegoat for a much bigger crime syndicate:
Yes, he stole $65 billion from some already quite wealthy people. I know that’s upsetting to them because rich guys like Bernie are not supposed to be stealing from their own kind. Crime, thievery, looting ‚Äî that’s what happens on the other side of town. The rules of the money game on Park Avenue and Wall Street are comprised of things like charging the public 29% credit card interest, tricking people into taking out a second mortgage they can’t afford, and concocting a student loan system that has graduates in hock for the next 20 years. Now that’s smart business! And it’s legal. That’s where Bernie went wrong ‚Äî his scheming, his trickery was an outrage both because it was illegal and because he preyed on his side of the tracks.
Had Mr. Madoff just followed the example of his fellow top one-percenters, there were many ways he could have legally multiplied his wealth many times over. Here’s how it’s done. First, threaten your workers that you’ll move their jobs offshore if they don’t agree to reduce their pay and benefits. Then move those jobs offshore. Then place that income on the shores of the Cayman Islands and pay no taxes. Don’t put the money back into your company. Put it into your pocket and the pockets of your shareholders. There! Done! Legal!
(more Moore)
A month ago, Michael Moore served as pall-bearer for the funeral of GM, and threw the casket of incompetence into the grave its management dug for itself:
It is with sad irony that the company which invented “planned obsolescence” — the decision to build cars that would fall apart after a few years so that the customer would then have to buy a new one — has now made itself obsolete. It refused to build automobiles that the public wanted, cars that got great gas mileage, were as safe as they could be, and were exceedingly comfortable to drive. Oh — and that wouldn’t start falling apart after two years.
GM stubbornly fought environmental and safety regulations. Its executives arrogantly ignored the “inferior” Japanese and German cars, cars which would become the gold standard for automobile buyers. And it was hell-bent on punishing its unionized workforce, lopping off thousands of workers for no good reason other than to “improve” the short-term bottom line of the corporation. Beginning in the 1980s, when GM was posting record profits, it moved countless jobs to Mexico and elsewhere, thus destroying the lives of tens of thousands of hard-working Americans. The glaring stupidity of this policy was that, when they eliminated the income of so many middle class families, who did they think was going to be able to afford to buy their cars? History will record this blunder in the same way it now writes about the French building the Maginot Line or how the Romans cluelessly poisoned their own water system with lethal lead in its pipes…
Thus, as GM is “reorganized” by the federal government and the bankruptcy court, here is the plan I am asking President Obama to implement for the good of the workers, the GM communities, and the nation as a whole. Twenty years ago when I made “Roger & Me,” I tried to warn people about what was ahead for General Motors. Had the power structure and the punditocracy listened, maybe much of this could have been avoided. Based on my track record, I request an honest and sincere consideration of the following suggestions:
(more more Moore)
Is Michael Moore often infuriating? Sure he is. I’d rather get furious and stay furious than be fed a steady diet of media complacency. Millions of people flood the streets of Iran when citizens there are pissed off. Where’s America’s spirit of rebellion? You don’t have to agree with Michael Moore to see that he’s one the few American filmmakers able to inspire people to take action.
