Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Imploded--and What We Need to Do to Remake Them

Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Imploded--and What We Need to Do to Remake Them

John Perkins

Language: English

Pages: 169

ISBN: 2:00073819

Format: PDF / Kindle (mobi) / ePub

John Perkins has seen the signs of today's economic meltdown before. The subprime mortgage fiascos, the banking industry collapse, the rising tide of unemployment, the shuttering of small businesses across the landscape are all too familiar symptoms of a far greater disease. In his former life as an economic hit man, he was on the front lines both as an observer and a perpetrator of events, once confined only to the third world, that have now sent the United States—and in fact the entire planet—spiraling toward disaster.

Here, Perkins pulls back the curtain on the real cause of the current global financial meltdown. He shows how we've been hoodwinked by the CEOs who run the corporatocracy—those few corporations that control the vast amounts of capital, land, and resources around the globe—and the politicians they manipulate. These corporate fat cats, Perkins explains, have sold us all on what he calls predatory capitalism, a misguided form of geopolitics and capitalism that encourages a widespread exploitation of the many to benefit a small number of the already very wealthy. Their arrogance, gluttony, and mismanagement have brought us to this perilous edge. The solution is not a "return to normal."

But there is a way out. As Perkins makes clear, we can create a healthy economy that will encourage businesses to act responsibly, not only in the interests of their shareholders and corporate partners (and the lobbyists they have in their pockets), but in the interests of their employees, their customers, the environment, and society at large.

We can create a society that fosters a just, sustainable, and safe world for us and our children. Each one of us makes these choices every day, in ways that are clearly spelled out in this book.

"We hold the power," he says, "if only we recognize it." Hoodwinked is a powerful polemic that shows not only how we arrived at this precarious point in our history but also what we must do to stop the global tailspin.

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particular sets of law. Although many are headquartered in the United States and call upon the U.S. military to protect their interests, they feel no sense of loyalty to any one country. They form partnerships with the Chinese and the Taiwanese, with Israel and the Arab nations, with Brazilians, Australians, Russians, Indonesians, Congolese—with anyone who possesses resources they covet. As we have seen with Halliburton, they think nothing of relocating to places like Dubai, where they pay fewer

become as rich as the Gilded Age tycoons simply because they operate under the mantle of publicly traded companies that are supposedly scrutinized by the Securities and Exchange Commission (SEC). We fail to object when we learn that roughly half the profits made by investment banks were distributed to the senior partners—not to the employees or the stockholders. We continue to honor the “billionaires” even after we learn that many among them—such as Bernard Madoff, R. Allen Stanford, and the

make lots of noise—clap my hands and shout—and slowly back away.” “Right.” He pondered the painting. “Exactly. The double standard. Or …” He frowned. “You tell the world that you will never negotiate with the ‘Muslim terrorists’ who overthrew the shah of Iran when in fact you’re striking deals to provide them with weapons.” He laid a hand on my shoulder. “You know what I mean?” “The Iran-Contra scandal.” “Exactly.” He touched the jaguar’s nose with his finger. “You know, double standards

green-washing the corporations could ever dream of.” The man was standing near the back of the packed auditorium at Regis University in Denver, shaking his fist at me. He was getting a lot of attention—and he knew it. “We want to abolish corporations.” The message was not new: The system is broken. We can’t fix it. Stop apologizing for capitalism. Tear it down. Start over. I peered at him across the heads of the audience. “Can I ask you: How old are you?” A long pause. “Let’s just say, the

Train hosted a reception for Llyn and me. It was held on the rooftop garden of their offices in the colonial section of Panama City—just a couple of blocks from the Presidential Palace and the old wall where Omar Torrijos and I had strolled that day all those many years ago. We were joined by Kuna chiefs and NGO leaders, as well as Danilo Perez and many other dignitaries, and we were treated to a slide show presentation for the new “Bridge of Life” BioMuseo that will be housed in a building

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