AskProfWolff: Zombie Corporations

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AskProfWolff: Zombie Corporations
13,286 views•Jul 24, 2020

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Prof. Wolff responds to 2 question from Patrons of Economic Update: "Can u list the 20 Zombie Corporations now owned by Federal Reserve the big Private bank w/ 12  branches around the USA?" and "What's the order of events that leads to this sustaining/zombification process to collapse? What should we look for to see this happening?"

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245 Comments
Auggie Giuseppe
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Lovey Dovey Doo
Lovey Dovey Doo
1 day ago
No. Corporations are people and people are zombies. That's why Mnuchin bails out corporations and buries people.

43


Chandler Bartholomew
Chandler Bartholomew
1 day ago
Every Corporation is a Zombie Corporation after the whole entire market was Socialized only for the rich.

35


Richard Owens
Richard Owens
1 day ago
"Zombie corporations" = "Corporations Republicans will be sure to bail out, while abandoning tax paying voters"

35


Barquero Juan Carlos
Barquero Juan Carlos
1 day ago
Isn't the US economy entering new dark, uncharted territory, where words like "zombie" need to be used, as never before, to describe the corporate monsters found in this realm?

14


I Sang
I Sang
1 day ago
In a truly free market economy, these zombie companies would have been allowed to fail.

12


GODrules555
GODrules555
1 day ago (edited)
Zombie Corporations sound like the saying "Robbing Peter to pay Paul."  EYE 5

3


Red
Red
1 day ago
What options exist to convert a zombie corporation's remaining assets into a Workers' Cooperative? Can't believe he didn't go there....

12


GodlessPhilosopher
GodlessPhilosopher
1 day ago
Forget late stage capitalism. Capitalism is dead. We're now in zombie capitalism.

36


ParcelOf Rogue
ParcelOf Rogue
1 day ago
My niche small manufacturing business has been like tumbleweed lately until a new product went a bit mad, so just avoided Zombie stage

9


Jo Blow
Jo Blow
1 day ago
Yet the CEO's of those corps keep getting million dollar bonuses... Zombie corps are really just ponzi schemes for the benefit of the investors. They are not investing in the corp itself for the benefit of the workers or clients but for the loans and subsidies they can get.

15


Mike Burns
Mike Burns
1 day ago
Capitalism is Socialism for the rich, at the sole expense of the workers.

18


profpmartin
profpmartin
1 day ago
If corporations are human then are people corporations. If so then can the dead  apply for loans?  We are in LA LA Land.

3


Edward Siegel
Edward Siegel
1 day ago (edited)
Similar in concept to Michael Hudson's "Ponzi Finance"

14


Anton Emilit
Anton Emilit
1 day ago
The rich want to use your teeth as a cheap source of aquarium gravel.

13


Tom Riviere
Tom Riviere
1 day ago
Nothing will be done until America confronts the real source of all its problems, capitalism, and the corporate fascists that control everything. I'm not holding my breath.

25


Tom Lee
Tom Lee
1 day ago
Capitalist production relations hinder the development of productivity, zombie companies are proof

2


Egalitarian Vegan
Egalitarian Vegan
1 day ago
Yes another clear sign that Capitalism is dying.    It is about time as Capitalism has been a threat to all life on this planet.

8


coreycox2345
coreycox2345
1 day ago (edited)
Zombie corporations don't seem like capitalism, which would fail in a free market without government intervention. It is the result of corporate interests in owning our government.

2


g
g
1 day ago
If a Central Bank ( i.e. the Fed) invents fictional money that corporations borrow, then the FED OWNS that company.
This is another way of buying companies cheaply. The scam is, the FED just creates fake money from nothing. It is worth nothing, but they still get to OWN REAL things with their fictional digital money. We must ABOLISH the FED.

6


Tom Lee
Tom Lee
1 day ago
Zombie companies, this is not what Marxist political economy says, but what these parasites like bank financial capitalists say.  In fact, those companies are not zombie companies. This is because of the contradiction of capitalist private ownership of the means of production. Workers are exploited, so they cannot consume all the goods.

2


Logan's Hot Rod & 4X4
Logan's Hot Rod & 4X4
1 day ago (edited)
Perpetual debt = slavery.
It’s not a collapse of capitalism, it’s business as usual.

1


Dan A
Dan A
1 day ago
zombie Corp are also used by the energy sector to dump toxic assets like nuclear power plants that need to be decommissioned.

3


Cathy Elings-Sysel
Cathy Elings-Sysel
1 day ago
How do we know when we are in an actual depression?  Everyone keeps saying almost.  When does it become actual?

2


Tom Jones
Tom Jones
1 day ago
I'm betting all Trump's dealings are zombies.  So he won't release his tax returns because it will be public knowledge....he's broke.

3


Coe Hart
Coe Hart
1 day ago
Informative, as always, professor.

5


wolfflow
wolfflow
1 day ago
A zombie nation, eating every last brain.

1


Ace1000ks1975
Ace1000ks1975
1 day ago
Zombie corporations and their borrowing of unlimited money from the Federal Reserve will come to an end when foreigners stop buying US treasury bonds. When that happens, you will have a currency crisis, and that will lead to a period of very high inflation or even hyperinflation.