Rob Johnson Blasts “Oligopoly-Style” Global Standoff

With unfailing energy, world-traveler Rob Johnson appeared on The Guardian’s podcast “The Business” to discuss the (lacking) morality of large global corporations, how a stronger GOP will hamstring politics, and Obama’s upended economic team. “There’s an enormous breakdown… in morality that relates to globalization,” Rob says. The US CEO who has employees all over the world is no longer vested in the benefits for American workers, notes Rob, and the American people have wised up: “85% of Americans think the corporations have too much power”.

But while banks have all the power, Congress is held up and likely to get even less done after any GOP midterm victories. Meanwhile, Obama’s economic policies are “in tatters,” as Rob puts it. “The analogy [of Obama] to Franklin Roosevelt did not materialize in this crisis. And now the public is quite upset with nearly 10 percent unemployment.” The real political debate? It’s all about the proper role of government in the economy. The GOP, it seems, wants to undo all of FDR’s gains in using the government to aid its citizens.

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Rob then sat down with Reuters to explain just how bad the state of American economics really looks to those across the pond. “The administration is in real trouble right now,” says Rob. There’s high unemployment but no ability to either create more stimulus or see the Fed take more action.

Rather than the Fed considering more quantitative easing, which could heighten competitive currency devaluation, the world’s nations need to work together to solve the problems facing the economy, Rob says. After all, if the current “oligopoly-style” standoff between nations continues, who’s going to win?