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Joinfortmill
Joinfortmill's Journal
Joinfortmill's Journal
November 19, 2023
My words: Thom Hartmann has kindly allowed the folks on DU to post the articles we receive in full. This arrived in my inbox this morning. I thought it was worth sharing. I will also add that I believe Joe Biden is working very hard to reverse this unfortunate circumstance, so VOTE, people.
The Hidden History of Monopolies: How Big Business Destroyed the American Dream
'Today, things are even worse than in FDR’s time.
“The top 1 percent of families captured 58 percent of total real income growth per family from 2009 to 2014,” wrote economist Emmanuel Saez for the Washington Center for Equitable Growth.4
In large part, the concentration of both wealth and income has come about in the era since the Reagan presidency and the introduction of “Reaganomics.” In the 40 years prior to Reagan, income and wealth among working people was growing at a faster rate than it was for the top 1%. Since Reaganomics was instituted—a system within which we’re still operating— the wealth and income of the top 1% has exploded.
When Reagan came into office in 1981 and welcomed the monopolists back into government, everything shifted. Where we once had wide and celebrated local and regional diversity in beer brewing, for example (remember “Milwaukee’s Finest” and when Coors had to be smuggled out of Colorado?), today we have instead two corporations that produce over 90% of all the beer consumed in the United States, and one of the two, Anheuser-Busch, is now largely owned by Belgian and Brazilian investors.
If you want to relax with the internet instead of a beer, that marketplace is also highly concentrated.
While South Koreans get internet speeds 200 times faster than what most Americans get, and pay only $27 a month for their service, Susan P. Crawford, author of Captive Audience: The Telecom Industry and Monopoly Power in the New Gilded Age and former board member of ICANN, told me that the average American consumer pays around $90 a month for a cell phone with a data plan, compared with the European aver- age of just $19 (and the coverage is better and the data is both faster and unlimited).
Why? Because the European Union doesn’t tolerate monopolies as the United States does. There are hundreds of small and feisty competitors across the continent.
On Wall Street, the 20 biggest banks own assets equivalent to 84% of the nation’s entire gross domestic product (GDP). And just 12 of those banks own 70% of all the banking assets. That means our entire banking system relies on just a few whales that must be saved at all costs from going belly up, or else the entire system goes belly up.
And consider our food industry. According to Tom Philpott at Mother Jones magazine, agriculture oligopolies exist from farm to shelf. Just four companies control 90% of the grain trade. Just three companies control 70% of the American beef industry. And just four companies control 58% of the US pork and chicken producing and processing industries.
On the retail side, Walmart controls a quarter of the entire US grocery market. And just four companies produce 75% of our breakfast cereal, 75% of our snack foods, 60% of our cookies, and half of all the ice cream sold in supermarkets around the nation.
Then there’s the health insurance market. Just four health insurance companies—UnitedHealth Group, WellPoint, Aetna, and Humana—control three-quarters of the entire health insurance market. And, as a 2007 study by the group Health Care for America Now uncovered, in 38 states, just two insurers con- trolled 57% of the market. In 15 states, one insurer controlled 60% of the market.
Since there’s no functional competition in such a market, prices continue to go higher and higher while the profits for these whales skyrocket too.
In the cellular phone market, just four companies—AT&T Mobile, Verizon Wireless, T-Mobile, and Sprint Nextel— control 89% of the market. And in the internet arena, just a single corporation—Comcast—controls more than half of the market.
As Adam Smith pointed out, and the Founders of this republic well knew, capitalism is a game that can work for the average person and the small business, but only when the rules of the game are set that way. Re-rig those rules to give disproportionate power to the very wealthy, and we slide into what Franklin Roosevelt called fascism.
Since money often equals political power, and political power can be used to rewrite the rules of business and tax law to further concentrate and enhance wealth and income for those paying the lobbyists and members of Congress, this situation not only represents the economic threat of making the marketplace more fragile and liable to crashes like what happened in 1929 but also represents a threat to democracy itself.
Most Americans would be highly offended if the NFL rules were changed to allow whichever team had the most money to have an extra three players on the field at all times. But that’s exactly what Reaganomics and its deregulation have brought us in our marketplaces; it’s the staggering difficulty that every small business in America faces today.
To understand how to fix this situation so that America’s small businesses and middle class can once again thrive, it’s important to understand the factors at play that created the vibrant, localized American economy that was the hallmark of mid-20th-century America.'
'Monopoly and Fascism in America Today' Thom Hartmann
https://hartmannreport.com/p/monopoly-and-fascism-in-america-todayMy words: Thom Hartmann has kindly allowed the folks on DU to post the articles we receive in full. This arrived in my inbox this morning. I thought it was worth sharing. I will also add that I believe Joe Biden is working very hard to reverse this unfortunate circumstance, so VOTE, people.
The Hidden History of Monopolies: How Big Business Destroyed the American Dream
'Today, things are even worse than in FDR’s time.
“The top 1 percent of families captured 58 percent of total real income growth per family from 2009 to 2014,” wrote economist Emmanuel Saez for the Washington Center for Equitable Growth.4
In large part, the concentration of both wealth and income has come about in the era since the Reagan presidency and the introduction of “Reaganomics.” In the 40 years prior to Reagan, income and wealth among working people was growing at a faster rate than it was for the top 1%. Since Reaganomics was instituted—a system within which we’re still operating— the wealth and income of the top 1% has exploded.
When Reagan came into office in 1981 and welcomed the monopolists back into government, everything shifted. Where we once had wide and celebrated local and regional diversity in beer brewing, for example (remember “Milwaukee’s Finest” and when Coors had to be smuggled out of Colorado?), today we have instead two corporations that produce over 90% of all the beer consumed in the United States, and one of the two, Anheuser-Busch, is now largely owned by Belgian and Brazilian investors.
If you want to relax with the internet instead of a beer, that marketplace is also highly concentrated.
While South Koreans get internet speeds 200 times faster than what most Americans get, and pay only $27 a month for their service, Susan P. Crawford, author of Captive Audience: The Telecom Industry and Monopoly Power in the New Gilded Age and former board member of ICANN, told me that the average American consumer pays around $90 a month for a cell phone with a data plan, compared with the European aver- age of just $19 (and the coverage is better and the data is both faster and unlimited).
Why? Because the European Union doesn’t tolerate monopolies as the United States does. There are hundreds of small and feisty competitors across the continent.
On Wall Street, the 20 biggest banks own assets equivalent to 84% of the nation’s entire gross domestic product (GDP). And just 12 of those banks own 70% of all the banking assets. That means our entire banking system relies on just a few whales that must be saved at all costs from going belly up, or else the entire system goes belly up.
And consider our food industry. According to Tom Philpott at Mother Jones magazine, agriculture oligopolies exist from farm to shelf. Just four companies control 90% of the grain trade. Just three companies control 70% of the American beef industry. And just four companies control 58% of the US pork and chicken producing and processing industries.
On the retail side, Walmart controls a quarter of the entire US grocery market. And just four companies produce 75% of our breakfast cereal, 75% of our snack foods, 60% of our cookies, and half of all the ice cream sold in supermarkets around the nation.
Then there’s the health insurance market. Just four health insurance companies—UnitedHealth Group, WellPoint, Aetna, and Humana—control three-quarters of the entire health insurance market. And, as a 2007 study by the group Health Care for America Now uncovered, in 38 states, just two insurers con- trolled 57% of the market. In 15 states, one insurer controlled 60% of the market.
Since there’s no functional competition in such a market, prices continue to go higher and higher while the profits for these whales skyrocket too.
In the cellular phone market, just four companies—AT&T Mobile, Verizon Wireless, T-Mobile, and Sprint Nextel— control 89% of the market. And in the internet arena, just a single corporation—Comcast—controls more than half of the market.
As Adam Smith pointed out, and the Founders of this republic well knew, capitalism is a game that can work for the average person and the small business, but only when the rules of the game are set that way. Re-rig those rules to give disproportionate power to the very wealthy, and we slide into what Franklin Roosevelt called fascism.
Since money often equals political power, and political power can be used to rewrite the rules of business and tax law to further concentrate and enhance wealth and income for those paying the lobbyists and members of Congress, this situation not only represents the economic threat of making the marketplace more fragile and liable to crashes like what happened in 1929 but also represents a threat to democracy itself.
Most Americans would be highly offended if the NFL rules were changed to allow whichever team had the most money to have an extra three players on the field at all times. But that’s exactly what Reaganomics and its deregulation have brought us in our marketplaces; it’s the staggering difficulty that every small business in America faces today.
To understand how to fix this situation so that America’s small businesses and middle class can once again thrive, it’s important to understand the factors at play that created the vibrant, localized American economy that was the hallmark of mid-20th-century America.'
November 18, 2023
'... "the DOJ asked the ethics committee not to investigate several things, where they already had been interviewing witnesses."
"So the Ethics Committee confined its investigation primarily two things under the purview of the House: campaign finance issues, whether or not reports are filed," she elaborated. "And so remember, this scathing report is only limited to a few of the things that Mr. Santos has done, and so we felt an obligation to share with the DOJ information that might be helpful in their criminal investigation."'
So, it looks like the M*F*cker, George Santos, is finally going to go down...
https://www.rawstory.com/george-santos-doj/'... "the DOJ asked the ethics committee not to investigate several things, where they already had been interviewing witnesses."
"So the Ethics Committee confined its investigation primarily two things under the purview of the House: campaign finance issues, whether or not reports are filed," she elaborated. "And so remember, this scathing report is only limited to a few of the things that Mr. Santos has done, and so we felt an obligation to share with the DOJ information that might be helpful in their criminal investigation."'
November 18, 2023
My words: Presenting Amicus Briefs BEFORE the SCOTUS is even scheduled to hear a case (20 minutes).
1. To weaken organized labor
2. To weaken the Consumer Financial Protection Bureau
3. To continue the right of Dark Money to flow undisclosed up to the highest levels including the "Captured Court'.
'The Scheme 9: Amicus Flotillas' Senator Sheldon Whitehouse
&t=683sMy words: Presenting Amicus Briefs BEFORE the SCOTUS is even scheduled to hear a case (20 minutes).
1. To weaken organized labor
2. To weaken the Consumer Financial Protection Bureau
3. To continue the right of Dark Money to flow undisclosed up to the highest levels including the "Captured Court'.
November 17, 2023
'oh, so now we can’t use campaign funds to pay for botox injections? what kind of totalitarian hellscape are we living in?
the House Ethics Committee released their report on beloved drag performer and dog rescue aficionado George If That Even Is Your Real Name Santos (R-Kleptopia) and oh fucking boy — in a party that has made an art out of thievery and lying, this guy is Hall of Fame material.
Among the bills footed by campaign donors: trips to the casinos in Atlantic City and the Hamptons; purchases at the French fashion house Hermès; regular cosmetic treatments labeled “Botox” on internal campaign records; and even small purchases on OnlyFans, a platform best known for allowing creators to sell explicit photos and videos to subscribers.
basically, nothing in George’s biography is real...
Representative Santos sought to fraudulently exploit every aspect of his House candidacy for his own personal financial profit. He blatantly stole from his campaign. He deceived donors into providing what they thought were contributions to his campaign but were in fact payments for his personal benefit. He reported fictitious loans to his political committees to induce donors and party committees to make further contributions to his campaign—and then diverted more campaign money to himself as purported “repayments” of those fictitious loans. He used his connections to high value donors and other political campaigns to obtain additional funds for himself through fraudulent or otherwise questionable business dealings. And he sustained all of this through a constant series of lies to his constituents, donors, and staff about his background and experience.'
'liars, drunks, and violent jerks: just another day in wingnutville' Jeff tiedrich
https://www.jefftiedrich.com/p/liars-drunks-and-violent-jerks-just'oh, so now we can’t use campaign funds to pay for botox injections? what kind of totalitarian hellscape are we living in?
the House Ethics Committee released their report on beloved drag performer and dog rescue aficionado George If That Even Is Your Real Name Santos (R-Kleptopia) and oh fucking boy — in a party that has made an art out of thievery and lying, this guy is Hall of Fame material.
Among the bills footed by campaign donors: trips to the casinos in Atlantic City and the Hamptons; purchases at the French fashion house Hermès; regular cosmetic treatments labeled “Botox” on internal campaign records; and even small purchases on OnlyFans, a platform best known for allowing creators to sell explicit photos and videos to subscribers.
basically, nothing in George’s biography is real...
Representative Santos sought to fraudulently exploit every aspect of his House candidacy for his own personal financial profit. He blatantly stole from his campaign. He deceived donors into providing what they thought were contributions to his campaign but were in fact payments for his personal benefit. He reported fictitious loans to his political committees to induce donors and party committees to make further contributions to his campaign—and then diverted more campaign money to himself as purported “repayments” of those fictitious loans. He used his connections to high value donors and other political campaigns to obtain additional funds for himself through fraudulent or otherwise questionable business dealings. And he sustained all of this through a constant series of lies to his constituents, donors, and staff about his background and experience.'
November 15, 2023
My comments: When Trump was a Presidential candidate he was shunned by the Koch brothers. In order to gain their support he promised to nominate their hand picked candidates to the SCOTUS (you can learn more about this in The Scheme Speech 6: The Judicial Crisis Network). The Kavanaugh Operation explains how he was nominated despite not being on the original list and the resulting chaos that ensued.
It's less than 20 minutes and a fascinating tale.
'The Scheme Speech 7: The Kavanaugh Operation'
&t=629sMy comments: When Trump was a Presidential candidate he was shunned by the Koch brothers. In order to gain their support he promised to nominate their hand picked candidates to the SCOTUS (you can learn more about this in The Scheme Speech 6: The Judicial Crisis Network). The Kavanaugh Operation explains how he was nominated despite not being on the original list and the resulting chaos that ensued.
It's less than 20 minutes and a fascinating tale.
November 14, 2023
Jeff Tiedrich
'“… the conversation was around December 19th of 2020, at the White House Christmas party. I emphasized to [Dan Scavino] that the claims and the ability to challenge the election results was essentially over … and he said to me in kind of an excited tone ‘we don’t care and we’re not gonna leave’ and I said ‘what do you mean’ and he said ‘well, the boss’ — meaning President Trump — and everyone understood ‘the boss,’ that’s what we all called him — he said ‘the boss is not going to leave under any circumstances. we are just going to stay in power.’ and I said to him ‘well, it doesn’t quite work that way, you realize’ and he said ‘we don’t care.’”
there you have it, folks, firsthand — Little Donny Fuckface and his merry band of hoodlums had no intention of ever leaving the White House.'
'how sweet is this: Jenna Ellis just threw Donald Trump right the fuck under the bus'
https://www.jefftiedrich.com/p/jenna-ellis-just-threw-donald-trumpJeff Tiedrich
'“… the conversation was around December 19th of 2020, at the White House Christmas party. I emphasized to [Dan Scavino] that the claims and the ability to challenge the election results was essentially over … and he said to me in kind of an excited tone ‘we don’t care and we’re not gonna leave’ and I said ‘what do you mean’ and he said ‘well, the boss’ — meaning President Trump — and everyone understood ‘the boss,’ that’s what we all called him — he said ‘the boss is not going to leave under any circumstances. we are just going to stay in power.’ and I said to him ‘well, it doesn’t quite work that way, you realize’ and he said ‘we don’t care.’”
there you have it, folks, firsthand — Little Donny Fuckface and his merry band of hoodlums had no intention of ever leaving the White House.'
November 14, 2023
Please watch this segment of Morning Joe. It's worth it despite Joe.
So, Scarborough was good until he thought he was clever by invoking the "Elvis in 77" comparison to Trump. Elvis'? WTF? Elvis' voice was heartbreakingly beautiful two months before his death. And a voice I'm sure Scarborough would love to have, which he doesn't and never will have, which is why he's still playing gigs in some obscure NY dive somewhere. Just saying.
Here's the video of Unchained Melody. I cry every time I listen to it. https://www.rollingstone.com/music/music-news/flashback-elvis-presley-sings-unchained-melody-two-months-before-his-death-62428/
'How ridiculous': Joe reacts to Trump campaign's defense of 'vermin' comment
Please watch this segment of Morning Joe. It's worth it despite Joe.
So, Scarborough was good until he thought he was clever by invoking the "Elvis in 77" comparison to Trump. Elvis'? WTF? Elvis' voice was heartbreakingly beautiful two months before his death. And a voice I'm sure Scarborough would love to have, which he doesn't and never will have, which is why he's still playing gigs in some obscure NY dive somewhere. Just saying.
Here's the video of Unchained Melody. I cry every time I listen to it. https://www.rollingstone.com/music/music-news/flashback-elvis-presley-sings-unchained-melody-two-months-before-his-death-62428/
November 13, 2023
Among other despicable quotes is this: "Why should I go to that cemetery? It's filled with losers." DJT.
Brilliant: Biden Campaign Ad uses Trump's words against him...
https://www.msnbc.com/morning-joe/watch/biden-campaign-uses-trump-s-own-words-against-him-in-new-ad-197718085888Among other despicable quotes is this: "Why should I go to that cemetery? It's filled with losers." DJT.
November 11, 2023
'KEY POINTS
*Moody’s Investors Service lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength.
*The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa.
Moody’s move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. The government is funded through next Friday.
*Newly elected House Speaker Mike Johnson said he plans to release a Republican government funding plan on Saturday.
As far as keeping the nation’s ratings at Aaa, Moody’s said that it expects the U.S. to “retain its exceptional economic strength.” “Further positive growth surprises over the medium term could at least slow the deterioration in debt affordability,” the agency said.
“While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook,” said Deputy Secretary of the Treasury Wally Adeyemo in a statement. “The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset.”'
My Words: Money Talks: So, this might be a wake-up call to the dark money funding the Republicans. I know the reckoning is coming, but I'm tired and stressed from the relentless hacking at our democracy. I'm most frustrated at the multi-billion dollar media empires who twist the truth or lie to us daily. It's Orwellian. Right now all we have is the VOTE. We must use it before we lose it. Stay strong.
'Moody's cuts U.S. outlook to negative, citing deficits and political polarization'
https://www.cnbc.com/2023/11/10/moodys-cuts-usa-outlook-to-negative-citing-higher-interest-rates-and-deficits.html'KEY POINTS
*Moody’s Investors Service lowered its ratings outlook on the United States’ government to negative from stable, pointing to rising risks to the nation’s fiscal strength.
*The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa.
Moody’s move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. The government is funded through next Friday.
*Newly elected House Speaker Mike Johnson said he plans to release a Republican government funding plan on Saturday.
As far as keeping the nation’s ratings at Aaa, Moody’s said that it expects the U.S. to “retain its exceptional economic strength.” “Further positive growth surprises over the medium term could at least slow the deterioration in debt affordability,” the agency said.
“While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook,” said Deputy Secretary of the Treasury Wally Adeyemo in a statement. “The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset.”'
My Words: Money Talks: So, this might be a wake-up call to the dark money funding the Republicans. I know the reckoning is coming, but I'm tired and stressed from the relentless hacking at our democracy. I'm most frustrated at the multi-billion dollar media empires who twist the truth or lie to us daily. It's Orwellian. Right now all we have is the VOTE. We must use it before we lose it. Stay strong.
Profile Information
Name: JoGender: Female
Hometown: Northeast
Home country: United States
Member since: Sat Jun 15, 2019, 11:56 PM
Number of posts: 14,484
