Cannibal Capitalism

An unbiased look at how the economic practices of corporations, leaders, and government are severely damaging the American way of life

Most of us have lived our lives by the rules—going to school, investing in real estate, and building careers—but the so-called Great Recession has changed everything. Cannibal Capitalism: How Big Business and the Feds Are Ruining America answers the questions on everyone's lips; what happened and where do we go from here?

Unlike in most other recent instances of financial turbulence, when this crisis hit, the country turned on itself economically, with the powerhouses—corporations, business leaders, and government—throwing the everyman under the bus. In an effort to avoid becoming slightly less rich, the super-rich effectively cannibalized the true engines of growth in the economy, in the process putting the bottom ninety-nine percent of the population at serious risk of losing everything. Cannibal Capitalism fights back, arguing that to really recover we need to educate our children, invest in our small businesses, use our inflated money to develop real things that build real wealth, and get back to exporting in a big way.

• Takes a thoughtful look at how income and wealth disparity, industry consolidation, anticompetitive business practices, political ideological extremism, and the hoarding of existing wealth are destroying the wealth building capacity of the nation and the promise of ideal capitalism
• Examines the financial crisis and its fallout in a clear, no-nonsense way
• Explains what we can do to fix a broken system and come out on top

The economic crisis rocking the foundations of the international financial system has had a disproportionately devastating affect on the average person. Angry, afraid, and confused, regular people are looking for answers and Cannibal Capitalism is here to help, illustrating how the super-rich did everything in their power to stay safe at the expense of everyone else.

Introduction vii

PART ONE: What's Wrong with Th is Picture? 1

Chapter One: Th e Face of Self-Destruction 3

Chapter Two: Putting the Cannibalism in Capitalism 15

Chapter Th ree: Suicide-Enabling Case Study: Crash of 2007-9 37

PART TWO: How Did We Get Here? 63

Chapter Four: Th e Evolution of Cannibal Capitalism 65

Chapter Five: Devolution of the Real Economy through Cannibal Capitalism 92

Chapter Six: Your Own Opinion or Own Facts? Selective Morality 103

PART THREE: Where AreWe Going? 113

Chapter Seven: Th e Choice of Health 115

Chapter Eight: Miseducation of the Masses 133

Chapter Nine: Power to the People 149

Chapter Ten: Bring the Money Home to Momma 181

Conclusion: Why Are We Promoting Economic Cannibalism? 196

"...Hill's analysis of cannibal capitalism's hazards is well worth the attention of readers, especially Occupiers who have yet to hone a cohesive message." (USA Today, January 2012) Michael C. Hill began writing for the Washington Post in 1988, but has since become an independent businessman. He has created several successful businesses, the oldest being a technical training and consulting firm, and the largest an award-winning home-building business. Having won dozens of awards for teaching, he now works as a venture capitalist and developer of new small businesses, including a green technology company, a business services and accounting firm, a unified communications technology company, and an unbiased news site. He regularly conducts business development and project management classes and seminars for public and private sector audiences around the world. He also is an occasional contributor to the Washington Post and other mass media outlets. Most of us have lived our lives by the rules—going to school, investing in real estate, and building careers—but the so-called Great Recession has changed everything. Cannibal Capitalism: How Big Business and the Feds Are Ruining America answers the questions on everyone's lips: what happened and where do we go from here? Taking a thoughtful look at how income and wealth disparity, industry consolidation, anticompetitive business practices, political ideological extremism, and the hoarding of existing wealth are destroying the wealth-building capacity of the nation and the promise of ideal capitalism, the book examines the financial crisis and its fallout in a clear, no-nonsense way.

Unlike in most other recent instances of financial turbulence, when this crisis hit, the country turned on itself economically, with the powerhouses—corporations, business leaders, and government—throwing the everyman under the bus, spurring the frustrated clamor of the Tea Party on the right and the Occupy Wall Street movement on the left. Small businesses that produce tangible goods and services and employ regular people were sacrificed, while paper traders who amass vast wealth through the exchange of abstractions derived from the real economy were propped up for being "too big to fail." In an effort to avoid becoming slightly less rich, the super-rich effectively cannibalized the true engines of growth in the economy, in the process putting the bottom 99 percent of the population at serious risk of losing everything. Cannibal Capitalism fights back, arguing that to really recover, we need to educate our children, invest in our small businesses, use our inflated money to develop real things that build real wealth, and get back to exporting in a big way.

"Michael Hill's research illustrates the importance of a bipartisan approach to rebuilding our nation's economy by stimulating job growth through the creation of new high-growth firms and by promoting entrepreneurship-friendly policies. Anyone concerned with the serious issues and possible solutions facing our economy should read this book."
—CARL SCHRAMM, President and CEO, Kauffman Foundation