The Dangerous Myth of Deregulation | Robert Reich
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- Опубліковано 27 вер 2024
- Robert Reich explains why the conservative myth of deregulation is another form of trickle-down economics.
Watch More The Failure of Trickle-Down ►► • The Failure of Trickle...
This is an utter reversal of the Trust-busting, Union, and eventual safety net efforts of the previous century. And a good percentage of our population does not notice.
It is not right or righteous.
My childhood mentor, and your pal Ken Galbraith must be rolling in his grave Robert (and unseen team). Thank you, as per my norm.
_"Federal statistics show price level of 51 in 1800, but that fell to just 25 by 1900. But, after Trust Busting, Progressive Era began, the price level in 1900 of 25 became 517.50 by year 2000."_
It's true when you apply it to the iPhone X, but genome sequencing and cargo-launching are becoming cheaper.
Lewis Black described trickle-down economics in perhaps the best way:
"You stand under the shower drain as businessmen and congressmen p*** away and watch it 'trickle-down.'"
shlibber, the only time a rich dude offered to give me a dollar was if I'd first give him two.
@Frederic Bastiat Employ ? Well, to a point. But they pay wages that are so low that these "workers" have to use food stamps, social security and various other protections paid for by ordinary taxpayers. So the big companies are actually on the dole (which you and I pay for) while raking in billions.
@Frederic Bastiat Conservative? Because I can't imagine any liberal suggesting that people should starve and die. Crime would go up by leaps and bounds. And whoever got rid of these programs would be the target of those who relied on these programs to survive. Which would only be fair, survival of the fittest is the name of the game. Right? Who do you think is fitter, the unskilled workers, or the average office worker?
@Frederic Bastiat Essentially, you are saying that things were better before regulations and the social safety net. Yes, people lived before these programs existed. But people also lived when doctors thought that bloodletting and leaches were the best medicine available. People used to endure surgery without anesthetics. Would you enjoy surgery without any kind of pain killer? People survived before it was used, though it was mostly due to force of will and luck. It also was incredibly painful.
Not to mention that people didn't really clean things properly, so you could easily die due to infection. Or at least need to lose a limb due to gangrene.
Similarly, people didn't know any better way to do things. People came because they had no other choice. They worked long hours, in dangerous conditions, for pitiful pay. It was painful, took force of will, and luck to eek out an existence.
While our current methods of medical treatment aren't perfect, I don't think any person would want to go back to the olden days. Likewise, our social safety net system isn't perfect, but going back to the olden days would be a step backwards.
A meat grinder that sucks people in isn't a good thing. It just means that it is efficient at taking people in, and spitting them out once they are useless. Remember the sweet spot in history when companies actually took care of their employees? Good times!
Monopolies are not healthy for capitalism. It removes competition, and increases prices. Isn't that basic economics? Which reminds me, we currently have monopolies that are causing several problems. At the least, not paying their taxes. At worst, bribing politicians to undermine our democracy.
There was some saying about absolute power corrupting absolutely. As for the Bible, I seem to remember a few verses about the love of money being bad, and helping the poor/needy.
DON'T DRINK THE WATER, it's yellow rain!!!
There was aa good reason governments introduced regulations on business in the first place. Deregulation is going to force us to re-learn why it was a good idea to regulate all over again.
@Tubmaster: So true.... so true. Unfortunately, many people will suffer. Some will suffer life altering consequences (think about the kids with neurological problems due to lead tainted drinking water) or death while we "relearn" why regulations are a good thing.
Tubmaster 5000; absolutely correct. The anti-government/Libertarians portray regulation as some nefarious plot and it works on people who don't actually study history or even think to question why the regulations are there in the first place.
Gotta love when you don't have an argument how you fall back on "it happened for a reason." Nothing says dogma like religious subservience to government power at every turn.
Tubmaster 5000
Re-learn???
I guess I'm a bit slow... I haven't even "learned" why we need government bureaucrats to pass laws in the name of protecting me from greedy businesses in the first place...
If the prices of their products are higher and/or of lower quality than others or higher than doing it or creating it myself, then I won't buy from those greedy people in the first place.
History wil repeat itself... Again...
Growing up in the LA area in the sixties and seventies, I remember the Class One Smog Alerts. The air is MUCH MORE HEALTHY NOW! To go backwards (just so Joe Greedy can make a BIGGER PROFIT) would be UTTERLY INSANE!
Unregulated capitalism will eat us alive.
Why is it in the desert?
Without regulations, capitalism quickly devolves into a clusterfuck of unfettered greed where regular people get fucked on a daily basis.
That's exactly what the Republi(cons) want.
what can we do
@@patcholi3201if voting fails, rise up and physically remove them from office then abolish the party.
And sometime in the future when we face the effects of another product like Thalidomide because big phama is calling the shots will the producers then even get a slap on the wrist? No. One look at what they are getting away with in the opioid epidemic gives us the answer.
That publicity stunt with the stacks of paper-you could probably fill every single page with the names of people who will die if these regulations are eliminated. Your name or my name could be on that list.
Endless Noise Agreed. It takes a special kind of gullibility to believe that this is all done in the interests of the working people.
'gullibility' is a very kind way of putting it...
Ah, the "people will die" nonsense too. Gotta love that one. Not that it's ever been proven or anything....just say it because it's a good fear-mongering technique.
James Adams meh
@@ExPwner People have died from things before they were regulated.
Mr. Reich informs me but also scares the hell out of me.
Come on everybody let's bring in that blue wave, vote Democrat in November, the far more left the better, get out there! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🌊🌊🌊🌊
Voting Democrat won't help either. The Democratic Party is owned by big business as well - just a different collection of business interests than the GOP. Look at the Clinton administration of the '90s. Bill had the opportunity to undo the harmful actions of Reagan and his trickle down bullshit, but look what happened. Under that administration, full repeal of the Glass-Steagal Act !
@@orengo9728 you're a stupid fucking dumb ass
Keep the videos coming Mr. Reich!
I agree. Trumps on a fine line, and he's already on his way out, but he's doing so, kicking and screaming.
Orange Has to go.
Maybe one trumpaholic might see the light! ...maybe. It’ll have been worth it!
NO.... NO....
STOP the videos Mr. Reich!
everything that you put out here I agree with. our children will have to compete with robots. and all the FUEL we use will be taxed at a mutch higher rate where we would have to live like a third world nation.the most corrupt system is capitalist. where we can not afford at this time in our lives.
please help them with a donation :)
So, the EPA is now the Environmental Pollution Agency.
that coward would let 8 year olds work in toxic waste while saying they will be protected because they are carrying hand guns bust corporate monopolies people
You're a moron that has no concept of actual history.
So much for draining the swamp! The new head of the EPA is a coal lobbyist!
love your videos, easy to understand, informative and truthful. thanks Robert.
A lot of regulations are designed to help you leave work in one piece.
Wrong. They help big businesses crush competition.
@@sebastienholmes548 -- so regulations that make you have safety process to protect your employees are there to crush competition. Or how about your not allowed to pollute the land, air or water crushes competition.
@@duanepigden1337 yes, they make it harder for small businesses.
@@sebastienholmes548 -- only if the small businesses don’t care. I grew up in a small business, if people complained about regulations they were just being greedy and upset that they couldn’t rip of people easily.
@@duanepigden1337 why do you start with 2 dashes?
Thank god you are out there, Dr. Reich. Your words are a beacon of hope in this upside down world. Thank you!
So why does it matter? Take the economics of deregulating air pollution. That air pollution does have an economic cost, that when regulated puts the burden of those (very real) costs on corporations. So when you deregulate where do the costs go? As an example, increased air pollution likely leads to increased health issues; maybe higher instances of respiratory disease, or higher instances of cancer. Those costs effect the entire population, or a regional population, and as healthcare costs increase due to higher instances of health problems, the cost gets passed on as higher insurance premiums because we all are at higher risk of health issues.
This was implicit in prof. Reich's video but not really explicitly stated. Just thought this explanation might help paint the big picture for someone. A simple example but the underlying concept of indirect or deferred economic cost can be extrapolated to many industries.
more asthma! and birth defects, increased infertility , what else any number of problems and it can get as dire as acid rain ... yes I just said acid rain.
Not to mention with fewer people able to work as a consequence of increased illness, the mortality rate would increase. But because of the state of people’s health it might be harder to have children so the US population would begin a potentially rapid decline. Worst case scenario I can imagine is that the US ceases to exist, either from everyone dying or just leaving to start new lives somewhere else, where they have a better chance of survival.
@Frederic Bastiat - Freddie, Freddie, Freddie ... I'm so glad I caught you in an especially derogatory mood. Everyone's a "fucking idiot" or a "fucking moron," right, Freddie? I got an idea: why don't you go fuck yourself.
So anyone who isn't you ... is responsible for shitty Neoliberal economies? Really?
But you support regulating the fuck out of everyday citizens so no "stoned elderly people" steal even more of your pennies than the government does on their behalf. Don'tcha, fuck?
Why do you always veer off into the Land Before Laws and talk about it like you're some sort of half ass economist? You know the real reason you're here is to whine about "old people demanding that the government steals your money to pay for their retirement"? (Never mind the fact that those people were forced to pay into the system for decades.)
Don't tell me to "confine my rant," you spineless fuck. I'm just getting back to your true worldview, without detouring into your little side fantasies. "Soldiers, veterans, and Working Class people are a drag on the Economy and you'd be much better off without them."
Why don't you go back to your elite back doctors and ask them to surgically install a spine for ya? That way you can go out and take on the world yourself. You won't have to rely on young men and women in uniform protecting your right to be a fucking douchebag. Stop those old people from robbing you, Freddie. Come on, man. You can do it.
Oh that's right. I'm sorry, it's not the military that defends your "rights" -- it's the Military Industrial Complex: "a necessary evil and an extension of your right to self-defense."
Here's a clue, Fred: it's not self-defense if you pay someone else to do it for you. Yes, I know, the fact that your tax dollars goes toward compensating military personnel at all, that really gets under your skin, don't it. Too bad.
You told me to "confine my rants." Well, why don't you confine yours? Keep it simple, stupid. When you veer off into your dystopian view of The Way Things Should Be, you distract from the fact that you're a truly awful person with a toxic resentment of the Working Class and anyone else that you believe is "beneath you."
Fucking leech. Go get some more drugs from your elite doctors at the spine clinic and take a break from Internet commentary. Maggot.
Just compare your logic and intelligence in this comment to the original post, as well as the video...We can all see clearly who the "fucking idiot" is here.
Frederic Bastiat
And what are the costs to public health in Texas because there is less regulation. What is the rate of chronic respiratory disease in say Dallas, compared with other parts of the country? Who foots the costs of medical bills for all the people with asthma in Dallas? If you tacked on the cost of excess medical expenses to the price of gasoline, would it still be $1 less per gallon than in California? What were the costs to rebuild after Harvey? Scientific data suggests the storm was more intense, larger, slower and wetter as a result of global warming. Who foots that bill, and if you tacked that on to the price of gasoline, would it still be $1 cheaper than in California?
Mercury: it’s what’s for dinner!
I follow you from Europe (I am French sorry for this ;o) your videos are outstanding, universal messages, also for us across the pound. Please keep up your top contribution to Democracy Mr Reich !
I want to be protected by regulation. Big business sure as hell doesn't care whether water, air, food, buildings, cars, etc. are safe. Safety eats into their profits!
I'm gonna start an auto business and install bombs in all my customer's cars. I'm sure I'll make a lot of money!
Please keep up the good work. Such precise and articulate information is difficult to come by.
I'd like to see more people acknowledge that the free market isn't free because it doesn't have rules and laws, but because it *is* regulated. The regulated market ensures a smoothly running market where as many as possible got equal access to the market. A free market makes monopoly less likely too.
These Republicans need to be in jail forever.
They smile so proudly as they announce and unveil these horrible policies that they know will hurt so many people. But they don’t care because - $$$$.
That stack of blank paper/regulations reminds me of the stacks of blank paper work trump had on a table when he lied and said he was turning all his company's over to a blind trust/his children...
As phony as those trump steaks.
Thanks you for this priceless info
I learned easily from you.
What do I think? I think, “Nobody ever went broke underestimating the intelligence of the American public!”
Thank you for these videos to help show the country common sense information. Get registered get informed and vote for better than this demand better because we the people deserve better
Doctor Robert Reich does an excellent job explaining the need for regulation. In explaining the regulation of pollution, I would have taken a minute to explain the economic concept of externalities, the idea that not all of the costs of a product were captured in its price. For example, the river in my home city of Rochester, NY was used as a dumping ground for chemicals from the local chemical company. His example of the EPA repealing the clean power plan is an example. In cases of externalities, the market cannot regulate itself, and so we need government to enforce a remedy to prevent the producer getting a free ride from pollution. By the way, I agree wholeheartedly that inequality is killing this country. Thank you, Robert.
We all know that most big corporations can not be trusted. Also who remembers the smog, acid rain and the Love Canal?
Brilliant as always. Unfortunately, too late. “Germany was the dress rehearsal for the United States.” Sid Haddad, NYC, 1970.
Wealth does not trickle down, it rushes up. What does trickle down is warm and yellow.
Good work, Bob and the team.
Even the definition of trickle-down sounds likes a fail because when I need a drink, I want a lot, not a trickle! Might as well call is 'begging-for' economics.
That white house photo is shocking. I expect better from Costco.
These info videos are so helpful. They aren't too long but, rather just the right amount of time and the right amount of information. I always share your videos through Facebook with my friends who enjoy them as well. However we want you to run for president!
When Trumputin makes America great again, Americans will be sorry, because they will realize they forgot to ask for whom it will be great again. That last word is so revealing.
Fantastic breakdown!!!
I like this.
Government regulations such as the Americans with Disabilities Act make it possible for me to easily complete my courses, to go anywhere on government-mandated ParaTransit services, to know that there is Braille on elevator switches and in menus...the list goes on.
short memories - remember the good old days before all the pesky regulations? Where are the rivers that catch on fire because of chemical pollution - it used to be such a great show, but never eat the fish. Who doesn't miss the days when LA was so blanketed with smog, you could fly over without ever knowing it was there. Now we have to deal with things going on two blocks away...we just can't say "we did not see anything" because those pesky regulations made the air transparent...most of the time. Why do people forget traumatic events in their own lives? The SF Bay became so polluted that the sea mammals and many fish species left to find clean ocean water. Of course now with the ridiculous regulations the bay is clogged with marine life and those damn birds that shit on everything keep coming back year after year. Why could we not leave well enough alone.
Part of the problem is that the primary legal obligation of a corporation is to make money for its shareholders.
Good video. Consider this same theme from the standpoint of business viability.
If a business pollutes the environment in the course of production then they are simply shifting the environmental cost from their own income statement to that of the overall society. As indicated in this video doing so increases profitability, or perhaps makes an operation financially viable, which would not be so if the company is made to carry the full cost of production on their income statement.
I believe that this subtle difference is important. Had environmentalists stressed pollution and environmental destruction in the framework of making businesses incur the true cost of their operations then environmental regulation may never have become so divisive and politically oriented.
Money doesn't trickle down, but shit always does.
I love these educational videos, too. I read up on the some of the history in my Time Life leather bound books after I watch them. We may want to ask ourselves, "Where's the care for "life" Trump and his republican members in Congress always talk about when polluting our air, land, and water putting anti-environmentalists in charge of our safety? Or when our worker safety rules are cut back? Again, the life of a human being is jeopardized. The protection of the public is being diminished more by this administration and it's up to the people to make sure that their government is working for them, not against them. "Better the occasional faults of a government that lives in a spirit of charity than the consistent omissions of a government frozen in the ice of its own indifference. . . that government in a modern civilization has certain inescapable obligations to its citizens, among which are protection of the family and the home, the establishment of a democracy of opportunity, and aid to the those overtaken by disaster." (Franklin Delano Roosevelt, 32nd president of the United States). Trump should be disqualified as an employee of the American people for not promoting peace and security for us ALL, not just the selected rich and wealthy!
Impeach.
Yes, for sure.
Good report.
Robert Reich in 2020~!
“the next public health crisis”.... And now here we are. Approaching 400,000 dead.
Robert, you make me a wiser person. Thanks!
That you for making these types of videos Prof. Reich!
Freedom for the pike is death for the minnow.
I learned while watching this that my Costco membership will be cut up and never renewed.
Robert Reich for president 2020!!!
We have a serious problem. The GOP used to be the party of individual rights and a supporter of big business - back when the USA was struggling to compete with places like Britain and France. And the Democratic party was a small government, states rights party that supported racism and slavery. Now, they are both in the same party. The first part was not bad 150 years ago, but times change. And the rest was never good.
Over regulation can also have a detrimental effect of economics as well. For example it is over regulation demanding technology within the Steel and Coal industry that did not exist yet that stopped US steel production. Regulation and taxation can be a double edge sword.
There is a reason why we put chains on a ravenous beast, that we can neither kill, nor are willing to tame.
Why should I pay water & sewer when my workers could just as easily use the pond and outhouse in the back? It’s an unnecessary burden to my corporate profits.
I am from Germany so the situation here might be a little different.
One thing I think is quite similar is how much effort companies have to out in complying with these rules. There are ever growing compliance departments and many owners of small businesses struggle with the amount of work imposed by often unnecessary regulations.
As you already pointed out many regulations are really important. But there is also a staggering amount that doesn't really seem to serve any purpose.
One I can think of from the top of my head, is that in Germany businesses are required to store all bills on paper. So there are people employed whose hole job it is to print those out and put them into an archive.
Another would be the new GDPR. I am sure you all heard the stories and they are probably right. The most extreme for was that many international newspapers blocked and still block users from the EU because I would be too much effort.
All in all I think that regulations have many of the risks you point out deregulation having.
More often than not established businesses lobby for regulation because it makes entering the market for competitors much harder.
And here’s the sting: the businesses themselves aren’t being protected either. The executives will take out massive loans, use the money to do stock buybacks while selling their own stock, give themselves huge bonuses, loading the businesses with massive debts and eventually wipes them out, like toys r us and iheartradio and hostess. This destroys investors capital as well as employees and suppliers, and damages the entire economy in order to enrich a select few
And what I'm talking about is 2008 when you had that banking crisis which was an economic disaster for the United States cuz there were no checks and balances on the banks and trade companies. In Canada you can only get a loan from the bank to buy a house. You cannot get a house through a mortgage company in Canada. For the main factors the bank looks at how much you burn so if you earn $80,000 a year you are only allowed to have a mortgage on a house worth $90,000. A person earning $80,000 a year cannot afford a house that is $400,000 and this is what these mortgage companies were allowing these people who were first time homeowners. That's why Canada didn't suffer as bad when it came to the housing market crisis.
Excellent video as usual by InEquality Media. They are second to none (perhaps rivaled only by PBS' Frontline) in presenting the truth to the public in clear understandable terms. Yes, thank you IM and please keep the videos coming!
Republican: "But muh Typhoid Fever and Lead polluted water".
It's because of the emissions regulations in Colorado is why there is no longer a brown clowd hanging around the Denver skyscrapers. I remember when it was there.
100 percent with you, You messed up with the picture of the starving polar bear. There is no way to link CO2 with that particular polar bear. Ask the biologist who videoed it.
you can't know what might be in food or anything if they don't have to tell you. more complex societies need more regulation or snake oil and worse come for you.
Thank you for bringing up these issues. Our millennial generation does not realize what our parents and grandparents went through to get these regulations established. They have had it easy. These regulations are what made America Great. Now they are going to have to learn the hard way. Maybe that is a partially good thing. They have no idea of what suffering comes with in civil wars or economics. Inwars, with neighbor , friend, family and country. Not pleasant, easy, stable or productive. Cannot BELIEVE they finally have been able to demolish every tendril to our democracy or shredded them enough to not be able to re-establish without ardent strife.
Ungrateful takers.
I have seen government organization being understuffed and the job given to lended engineers from the company to be controlled. And then two planes fell down and crashed.
I have subscribed to this channel but did not get notifications; even a UA-cam search did not bring up any new videos since last year... to the point I was wondering if Robert Reigh was even alive any more!
I'm glad that's not the case: the way he explains what's going is easy to understand. Moreover, he doesn't get swept by nearly daily scanfals but talks about less sexy but even more important issues that Trump's show is distracting people from.
People should have learned all this from 2008.
things go bad when they get deregulated-- banks, savings and loans, airlines-- just to name a few. and every time, who bails them out? you guessed, you and i, mr. and mrs. taxpayer
You failed to mention that penulative regulations create entry barriers for competition, solidifying the position of the big players.
Honestly, these are usual conservative policies. I'm more worried about the rule of law itself at this point.
This video is fine, but I don't think it's going to convince anyone who isn't already convinced. It's too hypothetical. These regulations were usually passed in response to something bad. That's where I'd focus
EPA deregulation will not only harm the ordinary people. but the people in the fossil fuel and other toxic industries will also suffer health risks. Short term gain for a relative few over long term sustainability for the many is very distructive, dangerous and morally unconscionable. All to serve a few greedy rich people and of course to serve trump.
Jesus christ this is some serious business.......
Id love to see Robert Reich being interviewed by Cenk on TYT. Think it would be an interesting interview.
Thank you Cool Grandpa
Not all listeners will understand that... need simpler explanation is needed...the deregulation allows more fraud be excercised
I hate to say it, but as good as these videos are....you are pretty much preaching to the choir. Most folks that are watching these videos already agree with you, Mr Reich, try looking for a way to reach the average FOX and Friends viewers.
Robert Reich explains the realities of our top 1% controlled economy better than anyone. Keep em coming Mr Reich!
We need to reform regulation and get rid of old useless regulations - we should not under any circumstances get rid of ALL REGULATION... this is just an ongoing process of "externalizing the valid cost of being in business TO society - whole not shoring our fair share of the revenues WITH society...
Deregulation means contaminated water and air which in turns means more cancer and asthma. They also own the pharmaceutical companies which most people can’t afford. They make you sick and then let you die unless you can’t pay
Excellent video,wish this message would get to the right but it won't.
My 7-year-old understands this scam more than most American adults...
If Trump was smart, we would be in real trouble.
Word "deregulation" have somehow misleading name. Its not about thing being unregulated, its about being regulated spontaneously, voluntery, decentraly. If teenagers choose to work long hours instead of taking useless university courses - thats fine!
Deregulation=job loss. Think of how many people it takes to properly dispose of toxins and chemicals and then think how many people it takes to just dump those said toxins and chemicals in a body of water
Those regulations kept more rivers from catching on fire, along with preventing a long list of other problems. www.ohiohistorycentral.org/w/Cuyahoga_River_Fire
First 30 sec: of course deregulation allows businesses to be more profitable. The problem is those profits come at a cost to the environment, the consumer, and employees; also all those juicy new profits stay at the top and never trickle down. So the wealthy business owners, shareholders, and executives get all the benefits and none of the drawbacks.
I treasure most of our Canadian regulations. But NAFTA has to go. We are forced to sell 75% of our oil to the US and then when we fall short we must buy it back at increased prices. 50% for natural gas. Same with hydro electricity. If anyone is being taken advantage of it is us. So please america do what you can to cancel NAFTA and we may not turn your water off.
It's sad, to have made a difference we would've had to went green in the 60s.
It's too little, too late.
So what do we do? Give up? It's never too late!
Holy good god, is that Linda McMahon standing there?
Regulations are written in blood
Reich for president!
Imo, The recent Ohio rail disaster is proof that you were correct, sadly.
Capitalism is all about externalising costs. It's exactly what is going on. Except : its also on you.
2:00 this is why i came and today we see the results
How about the lost of jobs due to deregulation. Because there are jobs that are created for compliance sake.
2018: "We may not know the extent we are unprotected against public health crises..."
2020: "Oh boy"
2:58 great prediction
Creature Comfort. Vanity Watch Out. The World Example???
But the situation Reich describes is not unique to Trump alone because for decades presidents have had bank executives as Secretary of the Treasury (Rubin, Paulson, Geithner and Mnuchin) and oil industry executives as Secretary of State (Rice and Tillerson). The end result was the bailing out of banks during a worldwide financial crisis they created where the wealthy benefited and the rest of us didn't and the long term Persian Gulf wars over overseas oil. Both houses of congress and both political parties have obstructed or stalemated any thing that does not have a corporate benefit. (ACA involves private insurers, food stamps involve grocery stores, tax laws benefit tax services, accountants and lawyers) As a result corporations control congress due to their lobbying, bribing and political campaign sponsorships. Corporations now get to write their own laws and regulations that rig the supposedly free market economy to their benefit over consumers and small business. (the LIBOR scandal and bank regs on propriety trading) And they can do it with only a handful of Senate votes. Then there are the international treaties like NAFTA and TPP that favored globalization over domestic manufacturing, the integration of foreign-made components into US assembled goods, the favoring of international courts over domestic courts, and your jobs going overseas. Remember how president Bush in 1990 talked about a new world order in his State of the Union address, well this is it -- the corporate take over of governments and the corporate privatization of nations.