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Pissed Off!: 67 Percent Of Americans Are Dissatisfied With The Size And Influence Of Major Corporations

The American people are becoming increasingly angry about the extraordinary amount of power and influence that corporations have in the United States today.  A new Gallup poll found that 67 percent of Americans are dissatisfied with the size and influence of major corporations in the United States today.  Not only that, the most recent Chicago Booth/Kellogg School Financial Trust Index found that only 26 percent of Americans trust our financial system at this point.  The mainstream media is acting as if this is a new phenomenon, but the truth is that a dislike of giant corporations goes all the way back to the founding of this nation.  Our founders held a deep distrust for all big concentrations of power, and they intended to set up a nation where no one person or no one institution could become too powerful.

Unfortunately, we have very much strayed from those principles.  In the United States today, the federal government completely dominates all other levels of government and mammoth international corporations completely dominate our economy.

If our founding fathers could see what is going on today they would probably roll over in their graves.

The history of the corporation can be traced back to the early part of the 17th century when Queen Elizabeth I established the East India Trading Company.

Our founders were not too fond of the East India Trading Company.  In fact, it was their tea that was dumped into the harbor during the original Boston Tea Party.

In his book entitled "Unequal Protection", Thom Hartman described the great antipathy that our founders had for the East India Trading Company....

"Trade-dominance by the East India Company aroused the greatest passions of America’s Founders – every schoolboy knows how they dumped the Company’s tea into Boston harbour. At the time in Britain virtually all members of parliament were stockholders, a tenth had made their fortunes through the Company, and the Company funded parliamentary elections generously."

So a disgust for great concentrations of financial power is built into our national DNA.

Many people today think of giant international corporations as being synonymous with "capitalism", but that is just not the case.

Our founders envisioned a land where free enterprise could flourish in an environment where no institution held too much power.

So this false left/right debate about whether we should give more power to the government or more power to the corporations is largely a bunch of nonsense.

If the founders were around today they would say that we need to take a lot of power away from both of them.

Fortunately, it looks like the American people are starting to think the same thing.  Not only are the American people dissatisfied with government, they are also becoming increasingly dissatisfied with big corporations.

As mentioned above, according to Gallup two-thirds of Americans are now dissatisfied with the size and influence of major corporations in America today....

As you can see, the gap between those in favor of the size and influence of major corporations and those not in favor has been significantly widening over the past decade.

That is a good thing.

Not only that, but the latest Chicago Booth/Kellogg School Financial Trust Index shows that Americans have very little trust in the financial system at this point.

The following are some of the key findings from their most recent report....

*Only 26 percent of Americans trust the nation's financial system.

*Only 13 percent of Americans trust big corporations.

*Only 16 percent of Americans trust the stock market.

*Only 43 percent of Americans trust the banks.

These numbers are staggering, but they should not be surprising.  The American people were not pleased at all when the major banks and big financial institutions were showered with bailouts during the recent financial crisis.  A lot of that anger is still simmering.

The recent housing collapse, which is still ongoing, was caused in great part by the behavior of the major banks and big financial institutions, but it is the American people which have suffered the most from it.  The following very brief animation from Taiwan demonstrates this very humorously....

The American people are still wondering where their "bailouts" are.  Most of the big banks and big corporations seem to be thriving even while the number of Americans slipping into poverty continues to grow.

According to Calculated Risk, approximately 15 million Americans are unemployed, about 9 million Americans are working part-time for "economic reasons" and approximately 4 million American workers have left the labor force since the beginning of the economic downturn.

When you total that all up, you get 28 million Americans that wish they had full-time jobs.

Ouch.

There are other numbers that are very disturbing as well.  In the month of November, the number of people on food stamps set another new all-time record: 43.6 million Americans.

So we have tens of millions of Americans that can't get the jobs that they want and we have tens of millions of Americans that can't feed themselves without government assistance.

No wonder so many people are angry at the big corporations!

The U.S. government has showered the big corporations and the big banks with bailouts, tax breaks and cheap loans and yet the big corporations and the big banks are not coming through for the American people.

Meanwhile, food prices continue to go up.  According to the United Nations food agency, global food prices set another new all-time record during the month of January, and they are expected to continue rising for months to come.

That certainly is not going to ease tensions in the Middle East and elsewhere around the world.  When people are not able to pay for the food that they need that tends to make them very, very angry.

For now we are not likely to see food riots in the United States, but as food prices rise all of those food stamp cards are not going to go as far as they used to.  Average American families are going to feel more strain at the supermarket.  There will be less money available for other things.

A key indicator to watch is the price of oil.  The price of oil is one of the key components of the price of food, and if we see the price of oil go up to $120 or $150 a barrel that could mean really bad things for both the U.S. economy and the overall global economy.

If we do see another financial crisis like we did in 2008, is the U.S. government going to rush to bail out the big corporations and the big banks like they did the last time?

As we have seen from the numbers above, that certainly would not sit well with the American people.

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  • http://www.alsosprachanalyst.com Zarathustra

    That’s the matter of inequality, the richer gets even richer…

    Also sprach Analyst

  • Maria

    America may be fiat broke, but we are gold rich. I’m not buying this fiat debt garbage. It is fake debt. Tell the banksters to take a hike. They created all this debt making bad bets. Let them eat it.

    America has two choices.

    We can default on the debt, lose reserve currency status and go through five to ten years of economic depression.

    OR

    We can let our government QE us to economic death…THEN we will default on the debt, lose reserve currency status and go through a generation or more of complete economic collapse.

    In the mean time…

    America owns more gold than any other country in the world. As all the countries print more fiat money, our gold increases in value.

    Every country in the world should get rid of central banks. They are thieves.

    End the FED.

  • davidm

    If only gary2 would hurry up and send me some corporate tax money, Maybe I could stop buying my soda pop and potato chips with food stamps

  • Hans Berger

    In the end, American won’t be able to do anything about the ongoing economic crisis: they are like cows easy to take to the slaughter-house. The sooner the national economy collapses the better, so corrective measures can finally be enacted and a new monetary system can emerge out of this chaos. Moreover, Americans don’t have a single clue of what Martial Law is all about in the event that civil unrest takes place in the United States; and those who pretend to revolt against the government (misguided by a nonsensical patriotism) will foolishly perish fighting for a lost cause.

  • WaterPoweredCar

    Well If they were to convert their vehicles to the water technology that has been around since atleast the 70′s the price of oil would be less of a concern for the global population. Just Ask Jack Nicholson he was promoting water cars in ’78 google it…. or Visit http://www.stoptherobbery.com where the design plans to convert vehicles to water power are available to all to see

  • http://mortgageresistanceofamerica.com FrankyFreelance

    It is an inherent part of human nature to want to consolidate things and make them more efficient. Combine this with the “profit motive” inherent in capitalism and you have a recipe for an ongoing battle between those who want to grow big (at the expense of the masses who don’t have leverage) and those who want to keep the fruits of growth somewhat egalitarian.

    The main reason why we have reached the new tipping point at the beginning of the 21st century is because of the power of technology and media in keeping the average person deluded/confused and thus controlled.

    America is now descending into the (unfortunately) natural sociopolitical state that all states are destined for IF the influencial powers do not (or are not ABLE to) implement the system of checks and balance which the founders of America KNEW were essential in order to prevent what is happening now.

    In addition, the increasing expansion of globalization has dealt a significant blow to an already weakened system. The result is a catalization of the descent into fascism and neo-feudalism which the U.S. is now gravitating towards.

    JOIN THE RESISTANCE!
    http://www.mortgageresistanceofamerica.com

  • http://saynotocorporateamerica.blogspot.com/ Say No to Corporate America

    Corruption is the number one topic that is discussed because it is the root of many evils!

    Corporations do not care about people and government puts corporations wishes before people… that is dreadfully wrong and painfully obvious. Obama is just another puppet owned by the corporations like Monsanto and JP Morgue… just look at his appointments. no lobbyists needed because he appoints the corporation’s top man to the Gov top office. And that is why I call if GOV Inc.

    I think the number is higher than 67% or at least the 67% are really, really pissed off! The remaining 33% need to wake the heck up!

    Read why it is happening: http://saynotocorporateamerica.blogspot.com/

  • Matt

    The American people are still wondering where their “bailouts” are.

    Here they are:
    -food stamps
    -extended unemployment benefits
    -obamacare
    -cash for clunkers

    There, now just shut up and color – afterall, its you (America collectively) that keeps electing the morons who give us oridinary people these “bailouts”.

  • http://www.grandmasdepressionmemories.com/ Leigh Kimmel

    The biggest problem with big corporations is that they’ve become so big they can effectively make the rules to suit themselves, resulting in mass cynicism about the entire concept of rule of law. If the rules are rigged to favor a small group of players at the expense of the vast mass of ordinary people, it begins to erode the feeling that one has a moral obligation to obey the rules even when there’s no risk of being caught.

  • VIPER1

    usdebtclock.org shows the food stamp number at 45,677,484.

  • Victorian

    I hope Americans DO something about corp. Cut up your credit cards, cut off the TV and cable, end eating at fast food places and only buy what you MUST {try to get that from a thrift store}. Demand corp. are stripped of their legal rights as a “person”. Pass laws to restrict all businesses to one location. Instead of thousands of Wal-Marts, McDonalds and Bank of America’s’ let thousands of families have local businesses. That way none are “too big to fail”, or big enough to outsource our nation and inventions.

  • nobodysaysBOO

    nothing will happen here.

  • Sylvie

    The whole of the USA is one big corporation actually.

  • Gary2

    Again-we need to tax the rich and spread the wealth. Tax the hell out of these Benedict Arnold corporations who outsource all the good jobs. We do not need crap low pay service jobs but living wage jobs.

    Corporations are not people. The dolts who vote republican conservative are so foolish it is hard to imagine our country ever recovering with these silly easily manipulated dolts voting against their own interests.

    No kidding people do not trust large corporations-they lie cheat and steal and get bailed out. Why did the fed give McDonald’s money? to let them keep creating low wage crap jobs? What a joke!

    Unionize the workforce and FORCE these scum bag crap low wage employers to pay a living wage. They can just make less profit.

    People before profits! Tax the wealthy to keep us healthy-single payer now! Tax the greedy to help the needy! Spread the wealth or we will be another Egypt with all the rioting and mayhem. The rich should be afraid, very afraid when they see Tunisia, Egypt etc. Unless the wealth is spread much more equally it will happen here just as in Egypt.

  • http://moneycrisisgameplan.com Money Crisis Game Plan

    So how far have we come? Queen Elizabeth I established the East India Trading Company, which caused America to rebel during the original Boston Tea Party.

    Now the Bank of England is part of the elite bankers who run the Federal Reserve, who controls the financial decisions of our country.

    American employees work to pay taxes, which go to pay interest on our debts to the Fed.

    So our money is still going into the Bank of England’s vaults.

    Dump your Dollars to buy silver while it’s cheap!

  • http://isncoinsreviews.com ISN

    We’ve transitioned from an agrarian society, where people worked for themselves, to a society where we depend on others to provide for us.

    Now during this economic crisis, we’re seeing the true danger of working for corporations, depending on the government for support, etc.

    And the smart people are working to become self reliant and live off of the grid.

    I’ve positioned my home business to be able to work from anywhere, to reduce my dependency on the system.

  • Spencer

    Americans are wondering where their bailouts are? Are you KIDDING ME? What do you think the stimulus is? What do you think the one and a half trillion dollar deficit is? What do you think entitlement programs are? That’s called bailing out the American people!

    Tax Gary2, give his money to Spencer. Cut the size of government to 10% its current size, withdraw troops from everywhere, quit whining about sub-prime and quit whining about successful companies. Their success drives a lot of innovation and inspiration. Bitching about their bailouts is valid, as well as corruption, but beyond that it’s just Americans being their typical envious of success selfs.

  • http://moneycrisisgameplan.com David

    When people catch onto the fact that corporations continue to deceive them, they will be even more PO’d.

    Manufacturers are reluctant to raise prices, so they are reducing the size of their containers, and redesigning the packaging so that you won’t notice that there’s less product.

    Ivory dish detergent went from 30oz to 24oz, which is a 20% difference.

    Of course the government won’t show 20% increase in their Consumer Price Index.

    David – The Elevation Group

  • DownWithLibs

    One can only wonder what the great oracle, Gary 2, has to say about this!

  • flubadub

    If it was’t for the pacifying effect of food stamps and unemployment compensation we’d already have American food rioters in the streets lobbing molotov’s at corporate and government offices.
    Our Secretary of Labor, Hilda Solis, appeared on CNBC this morning to help spread the great news that unemployment has fallen from 9.4% to 9%. Somehow this drop occurred because 36,000 jobs were added last month. Huh? For 36,000 jobs to represent 0.4% of the workforce it would mean that there are only 9 million American workers. We have a population of 309 million and, by our government’s calculations, we have a workforce of only 9 million. Wow! that would mean things are way worse than I thought if I didn’t realize that these figures come from the same type of calculators that give us our equally laughable inflation data via the constantly manipulated and useless CPI.

  • CatNap

    I just got a National Inflation Association newsletter that talks about the economy and food prices…calling Egypt a preview of America in 2015.

    Scary.

  • Bob

    More and More Companies are laying off, even though they are having profits. Instead of eating some of the losses, until you have to layoff. No employees are the first thing to go every time. There is no loyal anymore.

    http://www.dailyjobcuts.com

  • http://www.planorperish.com/ Gutter Economist

    Corporations in the United States should be purchased, owned, and managed by employees who would then control:

    (1) Executive compensation.
    (2) Distribution of excess profits.
    (3) Outsourcing – purchasing goods / services from foreign nations and non citizen employees.

  • Kevin

    Gary2

    “…. Tax the hell out of these Benedict Arnold corporations who outsource all the good jobs. We do not need crap low pay service jobs but living wage jobs.”

    We had that for decades, it was called a tariff. You believe that the Republicans virtually exclusively were the culprits that created “Free Trade” with slave labor nations that had the effect of eviscerating the US industrial base and Democrats are your white knight? Well both NAFTA and China Free Trade were signed into law by Bill Clinton who is almost worshipped by the very people that lost their good job. Eighty percent of US Senate Democrats voted for China Free Trade. It’s a fact that the Democrats ignore when discussing the economic plight we’re in. The Democrats that voted for it we’re the who’s who of the Democratic Party including Kennedy, Biden, Kerry and Edwards. Coincidentally three of those four we’re front runners for President at one time or another.

    OBTW 85% of of US Senate Republicans voted for China Free Trade a big 5% difference. McCain was a Free Trade supporter too. The reason a Democrat President signed it into law is because it did not land on a Republican Presidents desk: they would have signed it too. Can you see the picture here?

    There are no white and black hatted political parties. Both wear a very dingy shade of very dark grey.

  • Maria

    Heard Nomi Prins on Alex Jones about this very issue. She is spot on!

    http://www.youtube.com/user/thealexjoneschannel?blend=1&ob=4#p/u/3/v1zxt_ISEYE

    The mega corporations are not loyal to anyone or anything except the bottom line. They don’t care about the people of China, America or anywhere else. They just want the cheapest labor and materials they can get their hands on. And they will lie, cheat, steal and kill to get it.

  • The Unicorn

    In 1978-1979 dodge had a hydrogen car..ran on water.

    Google
    [PDF] TRANSPORT, ENERGY AND LAND USE IN HONG KONG: OPPORTUNITIES AND …

    check page 9 the design I believe included a membrane that seperated the H2 from the O2 they don’t include that in the link.

  • http://wideawakenews ralph

    I also just got the NIA newsletter and it makes you think. What if the world slowly erodes into an Egypitian like state. Also can any one tell me why television is so bad the last few years. I mean how many times can you watch a female FBI agent in a warehouse with a madman shooting at each other?

  • impeachRonPaul

    Target corporation is starting to try to buy elections. They will decide many issues. They dont care about civil rights or freedom only corporate profits. They will elect people with horrible views only to get one tax cut. I dont shop Target anymore.

  • http://www.pathtoasia.com rhea

    there are a lot of Interference from vote-seeking politicians which brings economic mayhem. They may deny it,but we all see big corporations controlling the government while YOU are still in deep hole trying to make your way out.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/job/

  • RevBryan

    “Corporation, n. An ingenious device for obtaining individual profit without individual responsibility.” Ambrose Bierce.
    Lots of good ideas in the above postings. Closing down the Fed, abolishing the personal income tax, reducing the size of government at all levels, end the failed redistribution of wealth schemes, encourage wealth accumulation, savings and sound money… “So much to do, so little time.”

  • jet

    The republican party is a wholly owned subsidiary of large corporations, just research the number of lobbyists that are now on their congressional staffs. Not to mention the former corp lobbyists that were elected to congress in the last election. I’m sure that you would not have heard about it on FOX news as they are nothing more than a corp mouthpiece. Have convinced their listeners that if it’s not information that they have disseminated that it is liberal. Most of there viewers have no idea what is really going on.

  • Mark

    Hey Kevin, Clinton signed NAFTA buy the brain child was Ronald Reagan. Tariffs yes are in place now, but simply are not significant enough to make any difference at all, your are well informed so you already know this. I am seeing quite of bit of this cat and mouse. Bottom line Chinese goods in particular should have a tariff of 99%, that would be a good start. Corporations should be required as before the 30s to prove their benefit to America and its citizens.

  • Kelly

    Revoke the Corporate Charter which started this whole mess.

    End the corporation’s rights of personhood. End Corporate Welfare and stop our jobs from going overseas…. End Corporate Tax Breaks for corporations that take U.S. money off shore.

    End the Corporate Charter – NOW.

  • Kevin

    Mark

    I’m not in any disagreement with you regarding the role of corporations.

    Clinton was not someone that just by happenstance followed the corporate lead with NAFTA in the mid 90s and China free trade in 2000. Hell he didn’t bother to leave that or bank de-regulation with the demise of Glass Stegall in 99 to his successor. He made sure that it got done with his signature. That de-regulation destroyed the middle class savings while the Globalization (Free Trade) significantly dropped their wages. Take note that 80% of US Senate Democrats including the who’s who of the party voted for China Free trade.

    Both Parties are owned line hook and sinker. Actually the Democrats more often do the dirty work and deflect blame claiming that “they are the friend of the working class” and point their finger at the Republicans. The fact is the body politic is adsorbed in a futile Democrat verses Republican argument missing the sad truth that both parties are behind this and you don’t have any choice. Any other conclusion is revisionist history.

  • Kevin

    Mark

    Clinton was not someone that just followed the corporate lead with NAFTA in the mid 90s and China free trade in 2000. Hell he didn’t bother to leave that or bank de-regulation with the demise of Glass Stegall in 99 to his successor. He made sure that it got done with his signature. That de-regulation destroyed the middle class savings while the Globalization (Free Trade) significantly dropped their wages. Take note that 80% of US Senate Democrats including the who’s who of the party voted for China Free trade.

    Both Parties are owned line hook and sinker. Actually the Democrats more often do the dirty work and deflect blame claiming that “they are the friend of the working class” and point their finger at the Republicans. The fact is the body politic is adsorbed in a futile Democrat verses Republican argument missing the sad truth that both parties are behind this and you don’t have any choice. Any other conclusion is revisionist history.

  • REB

    Glad to see someone who understands that corporations and capitalism are not the same thing,all business runs via capital(ism) be they free market or communist! We need more free market activity and alot less free trade BS(no they are not the same either),corporations like monsanto are indeed above the people and above the law,that needs to stop!

  • OldPhart

    Corporate Oligarchy (Corporatocracy)Corporate oligarchy is a form of power, governmental or operational, where such power effectively rests with a small, elite group of inside individuals, sometimes from a small group of educational institutions, or influential economic entities or devices, such as banks, commercial entities that act in complicity with, or at the whim of the oligarchy, often with little or no regard for constitutionally protected prerogative. Monopolies are sometimes granted to state-controlled entities, such as the Royal Charter granted to the East India Company, or privileged bargaining rights to unions (labor monopolies) with very partisan political interests.

    http://en.wikipedia.org/wiki/Oligarchy

  • Mark

    Kevin

    Like I said, you are well informed and you are right on my friend, good luck to you.

  • John Doe

    Why have people not learned from history? We read in the history books about it all when corporations are uncontrolled and have too much power. Think back to the original Industrial Revolution and the “Gilded Age” where children were chained like beasts of burden to pull mining carts, the skies blackened with sooty air, and rats were mixed into meat production. Think back to when Mussolini said fascism was simply a corporate/government merger. And that advances made in Nazi Germany’s death camps benefited the German industry.

    Feudalism still exists today. Humankind has never been free from tyrants, emperors, kings, lords, god-wannabes. Slavery was never abolished. It was just fine tuned and made equal for all. Only that the slave is expected to clothe, feed, and house himself-removing the burden from the masters and the great part is that the slave believes he is free. The masses are seen as nothing more than human resources where the capital of their labor are taxed and transferred. While the ruling class continues to exploit, experiment on, rob, subjugate everyone else, and plan your future behind closed doors. Think about the trillions of dollars coming and going these days. The real wealth has always been prevented from reaching your hands. But you might make only a measly $40k a year barely enough to feed your family or scrunge enough for a BBQ while the elite spend millions on a wedding and own more land than anyone.

    Go ahead, keep arguing liberal vs. conservative.

  • Kevin

    John Doe

    Personally I liked industry. I made on terrific living from it. Over time from the mid 70s when I started the jobs became more complex but the working conditions we’re much better. Around here industrial workers make 100K/year (with overtime) or a base of $75K without. Keep in mind they have boo-coo economic / safety responsibility and skills that are unique and very difficult, actually impossible to quickly replace.

    There is not a communist that could touch my standard of living.

    When industry flees the USA to the third world to employ virtual slave labor is when my love affair with them ends.

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