During a speech at New York University Friday, Hillary Clinton took aim at "quarterly capitalism," her name for corporate America's endless - and senseless - pursuit of profits.

Now, Clinton isn't exactly Elizabeth Warren and sometimes it sounds like she's reading a script written by an economics professor, but she's spot-on when it comes to so-called "quarterly capitalism." That's because, to paraphrase Shakespeare, something is rotten in the state of American capitalism.

Instead of using their record profits to invest in innovation or pay their workers more, America's biggest companies are now using those profits just to buy back their own stock.

As Edward Luce pointed out in a recent piece for The Financial Times,

"The level of US investment is at its lowest since 1947. Last year, according to Goldman Sachs, S&P 500 companies spent more than $500bn on share buybacks. This year it is expected to hit $600bn.... For every dollar the top US public companies spend on investment, they are returning eight or nine dollars to shareholders."

This is the sign of an economy that's gone insane.

Stock buybacks don't grow the economy as a whole; they just make giant rich corporations - and their CEOS - even richer. They're the perfect symbol of a system that puts profits before people, progress, and, well, pretty much everything else.

It's hard to imagine given the state of American capitalism these days, but things weren't always this way.

Between the 1930s and the 1980s, corporate America actually behaved - or was made to behave as a result of smart regulations - in ways that benefited everyone, not just their shareholders or CEOs. Back then, the saying "what's good for GM is good for America and what's good for America is good for GM" wasn't just a saying - it was a statement of fact.

But then Reagan came to town and everything changed.

Read more here.

-Thom

Tonight on The Big Picture on RT TV at 7pm and 10pm... Net Neutrality...the GOP attacks continue (check your local listings for stations or stream at RT or Free Speech TV, and catch past shows on Youtube)

 

Be sure to check out our newest video: RESTORATION - narrated by Leonardo DiCaprio & Thom Hartmann, directed by Leila Conners / Visit GreenWorldRising.org to check out all the videos: CARBON, LAST HOURS & GREEN WORLD RISING - narrated by Leonardo DiCaprio & Thom Hartmann, directed by Leila Conners

 

Big Picture Rumble:
- Gianno Caldwell, Caldwell Strategic Consulting  
- Sarah Badawi, Progressive Change Campaign Committee (PCCC)    
- Scott Greer, The Daily Caller    

 

Screwed: Net Neutrality...the GOP attacks continue
- Tim Karr, Free Press    

 

Best of the Rest: Feel the Bern...
- Steve Cobble, Progressive Democrats of America 

 

Plus, A Renegade Trawler, Hunted for 10,000 Miles by Vigilantes
- Captain Paul Watson, Sea Shepherd Conservation Society    

 

  

Tuesday's Daily Stack 

Article: "Cellular 'Cheaters' Give Rise to Cancer" by George Johnson.

Article: "Milton Friedman" by Wikipedia.

Article: "Ludwig von Mises" by Wikipedia.

Article: "Friedrich Hayek" by Wikipedia.

Article: "Ayn Rand" by Wikipedia.

Case: "Buckley v. Valeo", 1976.

Case: "Citizens United v. Federal Election Commission" (2010).

Article: "Ex-Wife: Donald Trump Made Me Feel 'Violated' During Sex" by Tim Mak, Brandy Zadrozny.

Book: Progress and Poverty by Henry George.

Article: "Is Medical Marijuana The Future of Breast Cancer Therapy?" by Saso Denkovik.

Case: "First National Bank Of Boston V. Bellotti", 1978.

Article: "First Amendment to the United States Constitution".

Article: "Professional Air Traffic Controllers Organization (PATCO) - August 1981 strike" by Wikipedia.

Article: "Solidarity action" (Sympathy strikes) by Wikipedia.

Article: "In Louisiana, Bernie Sanders draws a (very excited) crowd of 4,500 people" by james321.

 

PLUS, Thom talks with former President Jimmy Carter - A Full Life...Reflections at Ninety 

Article: "Iran hostage crisis" by Wikipedia.

Article: "'Argo' helps Iran's dictatorship, harms democracy " by Abolhassan Bani-Sadr.

Clip: Phone conversation between President Lyndon Johnson and Sen. Everett Dirksen (R) 968. "Here's the latest information we've got... This is treason. ... "

Article: "Universal Declaration of Human Rights" by United Nations.

Article: "Letter: Brownback/Davis election was strange night working polls" by Vern R.C. McFalls, Topeka.

Article: "Wichita State mathematician sues Kris Kobach, Sedgwick County elections commissioner seeking to audit voting machines" by Roxana Hegeman.

Article: "Kobach defends suspended voter list; study shows 59 percent on list are eligible to vote" by Jonathan Shorman.

Book: "What's the Matter with Kansas?: How Conservatives Won the Heart of America" by Thomas Frank.

Article: "Fighting for 50 States, Sanders House Parties Expect Tens of Thousands" by Deirdre Fulton.

Article: "Latest National Poll Shows Bernie Sanders Beating Scott Walker, Donald Trump, Jeb Bush" by Zaid Jilani.

Event: July 29, nationwide: "Let's organize" by Sen. Bernie Sanders.

Article: "Native American Activist Found Dead In Jail Cell After Traffic Fine Arrest" by M. David.

Video: "Ronald Reagan States' Rights Speech in Philadelphia, MS", August 3, 1980.

Article: "Nearly No Consequences For Drunk Executives Who Poured Beer On Native American Children's Heads" by Carimah Townes.

 

Talk Radio News Segment:
- Bob Ney 

Article: "House To Vote On Three-Month Extension For Highway Bill" by Sydnee Fried.

Article: "McCarthy Says House Won't Take Up Senate Highway Bill" by Sydnee Fried.

Article: "Eric Cantor, Paul Ryan & Kevin McCarthy: Plot To Sabotage US Economy with Frank Luntz" by keepemhonest.

Article: "Kerry warns U.S. Congress scrapping Iran deal would mean path to nuclear weapon" by Patricia Zengerle and Doina Chiacu.

Article: "Jesting, McCain Sings: 'Bomb, Bomb, Bomb' Iran" by Don Gonyea.

Article: "Over 230,000 Americans Demand That The 47 Iran Letter Republicans Face Criminal Charges" by Jason Easley.

Article: "Obama: Huckabee's 'oven' comment shows pattern of GOP's 'outrageous attacks'" by Christi Parsons.

Article: "NATO holds rare emergency meeting at Turkey's request, declares solidarity".

Site: "Goats for the old Goat".

Site: Governor Free Don Siegelman.

Book: "Sideswiped: Lessons Learned Courtesy of the Hit Men of Capitol Hill" by Robert Ney.

Article: "TRNS News Notes- 7/27" by Victoria Jones.

Hour Three: Progressive Roundtable
- Steve Cobble, Progressive Democrats of America 

Article: "Bernie Sanders Sets A New Record As 11,000 Show Up For Rally In Red State Arizona" by Jason Easley.

Article: "Democrats lose control of presidential event" by Chris Moody.

Article: "In Louisiana, Bernie Sanders draws a (very excited) crowd of 4,500 people" by james321.

Article: "When can I sign up for Part A & Part B?" by medicare.gov.

 

Video: How to Destroy Your Cell Phone With Sen. Lindsey Graham.

Article: "Paul to announce vote on defunding Planned Parenthood" by Daniel Strauss.

Article: "Fed Decision Day Guide: September Signals, Lacker Dissent, Jobs" by Matthew Boesler, Steve Matthews.

Article: "Rick Perry Calls Donald Trump a 'Cancer on Conservatism'" by Jill Ornitz and Ali Dukakis.

Article: "Experts: Report shows Sandra Bland may have used pot in jail" by Michael Graczyk and Jamie Stengle.

Article: "Maureen Dowd Ate Too Much Pot In Denver And Freaked Out" by Catherine Thompson.

Article: "Is Donald Trump a Supporter of Scott Walker and the Koch Brothers?" by Thom Hartmann.

Site: Democracy for America

Site: Bernie 2016  

 

Wednesday on The Thom Hartmann Program, 12-3pm ET 

 

Sam Sacks of the District Sentinel will be hear to talk about issues of the day.

 

And, the best of the rest of the news along with your calls right here on...

 

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