The US government uses tax money, and worse yet, money borrowed from the Federal Reserve (which is paid off by printing new money thus inflation), to support select industries in which government employees typically hold stock.
Over-priced no bid contracts are awarded to corporations for what are often unnecessary jobs, such as paying construction/engineering companies to rebuild things they’ve already paid weapons companies to destroy. This is state control of industry, and it is communism by definition. Corporations that don’t comply risk losing lucrative contracts to their competitors. The US government, in this way, creates state assisted monopolies.
The largest industry in Iraq has not been oil or construction it has been security. For every nasty contract given there is another contract spent on security, to protect it. These have reached billions of dollars.
Filed under: Corporations, History, Iraq, Money, Politics, War | Tagged: federal reserve, news, Government Spending, security, current events, government contracts, no bid contracts
