The Nature of Foxes

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chlamor
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The Nature of Foxes

Post by chlamor » Sat Feb 22, 2020 11:02 pm

The Nature of Foxes

Check out a dozen economic histories of the Great Depression and three quarters of them will report on how the Depression was "caused" by the Stock Market Crash or Hoover policies or real estate speculation in Florida in 1928. The super-heated speculation immediately preceding every single major crisis is not connected with the oceans of cash which always flood their system. Instead, it is all attributed to some individual human foible... just as today.

To paraphrase Malcom, they put a fox into the chicken coop and are surprised when it starts to kill chickens. "I always fed that fox. That was my pet fox. I told that fox to be friends with them chickens." It is so stupid. You can shoot that fox. You can throw that fox out. But, the one thing you cannot do is to expect that fox to stop being a fox.

You can see that shocked look on the faces of various Captains of Finance when they are being lectured by some corrupt congressperson about "greed". Inside, they are thinking, "say what?" Everything about the society is organized around greed, self-aggrandizement, and obsessive individual interest. It is the sole arbiter of a life lived "well". You take that environment and you mix in a tsunami of cash - private equity funds, hedge funds, index funds, derivatives, the ability to trade at any time on the Cairo Stock Exchange, free credit... "and then you say what to me?"

The question they all really want to ask is, "How come we got away with this shit for two or three decades?"

How come?

Because the fucking fox wasn't hungry, that's how come.

~~ anaxarchos

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blindpig
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Re: The Nature of Foxes

Post by blindpig » Sun Feb 23, 2020 3:07 pm

Image
What could go wrong?
"There is great chaos under heaven; the situation is excellent."

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blindpig
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Re: The Nature of Foxes

Post by blindpig » Mon Nov 30, 2020 6:36 pm

Monopolies have made America's Covid response worse
Opinion by Sally Hubbard at CNN Business Perspectives

Updated 9:20 AM ET, Mon November 30, 2020

As Covid-19 continues to spread, millions of Americans are losing their jobs, thousands of restaurants have closed for good and one in three small businesses surveyed by the nonprofit Small Business Majority said they won't survive beyond the next three months without additional funding. Yet the nation's most dominant corporations seem to be weathering the pandemic just fine.

In October, Facebook announced its revenue increased by 22% compared to last year, despite a major advertiser boycott over hate speech, and Amazon reported its profits increased by 197%. Google's YouTube, notwithstanding controversy over misinformation on the platform, saw a 32% increase in advertising revenue.
The strength of monopolies and oligopolies — where a few corporations rule an industry — has long come at the expense of the smaller businesses and entrepreneurs they muscled out of the competition. And now, as a result of monopolies' extractive business models, the rest of the economy must battle the pandemic from a point of weakness. For the US economy to recover from Covid-19, then, we must fight monopoly power.
Many corporate giants such as Facebook, Amazon and Google have obtained their dominant positions throughout the years in large part through anticompetitive acquisitions and conduct that violates antitrust laws, not by purely competing based on merit.
The House Judiciary subcommittee on antitrust, commercial and administrative law detailed Big Tech's anticompetitive abuses in a 450-page report released in October, stating that "there is mounting evidence that the dominance of online platforms has materially weakened innovation and entrepreneurship in the U.S. economy."
'Near-perfect market intelligence': Why a House report says Big Tech monopolies are uniquely powerful
'Near-perfect market intelligence': Why a House report says Big Tech monopolies are uniquely powerful
Whether the dominant corporations are Big Tech, Big Pharma or Big Agriculture, the problem is the same: A monopolized economy works for only a select few.

https://us.cnn.com/2020/11/30/perspecti ... index.html

Ms Hubbard, what part of 'Capitalism' do you not understand?

After it's so brief 'honeymoon' in the mid-19th century capitalism has done nothing but make everything worse. And yet dipshits like this scratch their heads and wonder 'what can be done' . When you look at the success that socialist states have had in addressing this pandemic the answer is obvious however forbidden to the stenographers of the State Dept and the slaves of the Chamber of Commerce.
"There is great chaos under heaven; the situation is excellent."

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