Comment on Fox News sharing billionaire propaganda
Mulligrubs@lemmy.world 1 week ago
In their mind, all costs should be born by the consumer (and employees, of course), and none taken from their profits.
Forever.
They demand higher profits every year. It has to come from somewhere, and it won’t be from their pile of gold.
This is why our government shouldn’t base policy on what they want. They want everything, it’s a given. We know
uriel238@lemmy.blahaj.zone 1 week ago
They shouldn’t but they do, because the billionaires and corporations have bought the government. That is to say they’ve bribed the officials in the government, though for a while now there are no laws or enforcement mechanisms in place to prevent this kind of corruption.
Lobbying the government is very profitable, far more so than any kind of positive innovation that capitalism is allegedly supposed to promote. It’s why governments criminalize this kind of influence from business interests or wealth. Usually companies just pass laws so that smaller rival businesses cannot compete, but they can also pass laws to give companies huge subsidies, no-bid contracts and tax cuts.
Financialization, it turns out, is even more profitable, which is using financial shenanigans like private equity to turn a reputable business into a giant ponzi scheme. The financial bros are long gone when the massive loan burden of the company is due. It leaves huge sinkholes in the economy, including Toys R Us, which is now a bunch of abandoned warehouses and unused giant outlets.
Currently, our ultra-wealthy, most of whom got rich through financialization, are trying to do the same thing with the US, itself, getting elected officials to pass huge budgets giving them no-bid contracts where they can charge grossly inflated prices. In the meantime, all this is incurs a huge amount of national debt.
Since Trump is doing everything in his power to isolate the US from the rest of the world (he wanted to do this since the beginning of his first term), when the bond market collapses, there won’t be anyone in the world willing to help us out, and the US will be reduced, like Toys R Us to husks of storefronts.
And then, our ultrawealthy can buy up US land for a song, and turn it into quarries, oilfields and data centers as far as the eye can see, though they seem completely oblivious about how they’re going to keep the workforce alive to run them.