Many industries are becoming increasingly concentrated or are already alarmingly concentrated. From Michael Snyder at endoftheamericandream.com:
Vibrant competition is absolutely essential in order for a capitalist economic system to function effectively. Unfortunately, in the United States today we are witnessing the death of competition in industry after industry as the biggest corporations increasingly gobble up all of their competitors. John D. Rockefeller famously once said that “competition is a sin”, and he was one of America’s very first oligopolists. According to Google, an oligopoly is “a state of limited competition, in which a market is shared by a small number of producers or sellers”, and that is a perfect description of the current state of affairs in many major industries. In early America, corporations were greatly limited in scope, and in most instances they were only supposed to exist temporarily. But today the largest corporations have become so huge that they literally dominate our entire society, and that is not good for any of us.
Just look at what is happening in the airline industry. When I was growing up, there were literally dozens of airlines, but now four major corporations control everything and they have been making gigantic profits…
AMERICA’S airlines used to be famous for two things: terrible service and worse finances. Today flyers still endure hidden fees, late flights, bruised knees, clapped-out fittings and sub-par food. Yet airlines now make juicy profits. Scheduled passenger airlines reported an after-tax net profit of $15.5bn in 2017, up from $14bn in 2016.
What is true of the airline industry is increasingly true of America’s economy. Profits have risen in most rich countries over the past ten years but the increase has been biggest for American firms. Coupled with an increasing concentration of ownership, this means the fruits of economic growth are being monopolised.
Jeremiah Johnson outlines dire threats to liberty and the American way of life. From Johnson at shtfplan.com:
In previous articles, I outlined the three methods the globalists are most likely to use (in order of preference) to finish off the U.S. and usher in their Globalist-Corporatist-Oligarchic world government. They are as such:
- A lethal bio-engineered virus
- An Electromagnetic Pulse (EMP) “Event” – defined as either an attack by a foreign entity (such as North Korea, China, or Russia), or a “domestic self-infliction” subsequently blamed on one or more of the listed former.
- A nuclear war
For skeptics and rabid naysayers who attacked previous articles regarding the threat posed by North Korea outlined over the past several years, information from the U.S. Air Force was posted the other day that may make you want to “reanalyze” your stance. As I mentioned before, I’m just the messenger: the information has been gathered over the years by men such as Pry and Graham who headed the former Committee to brief Congress on the EMP Threat against the United States.
The Deep State and its captive media grow increasingly desperate. From Caitlin Johnstone at caitlinjohnstone.com:
When even the Washington Post is saying your Russiagate article is bad journalism, your Russiagate article is really, really bad journalism.
In an article titled “The Guardian offered a bombshell story about Paul Manafort. It still hasn’t detonated.”, WaPo writer Pul Farhi draws attention to the fact that it has been a week since the Guardian published a claim that former Trump campaign manager Paul Manafort met repeatedly with WikiLeaks founder Julian Assange, without any evidence backing up the claim, using solely anonymous sources, and despite the claims contradicting known records of Assange’s guests at the Ecuadorian embassy. Criticism and demands for answers have been growing louder and louder from both friends and enemies of WikiLeaks, with new plot holes opening up in the Guardian‘s narrative daily, and the scandal is now moving into mainstream awareness.
And the Guardian remains silent, with its editor-in-chief Katharine Viner refusing to utter so much as a peep of defense this entire time. The only comment the publication has issued has been repeated day after day verbatim to every news outlet which writes about this bizarre occurrence: “This story relied on a number of sources. We put these allegations to both Paul Manafort and Julian Assange’s representatives prior to publication. Neither responded to deny the visits taking place. We have since updated the story to reflect their denials.” Which is basically just implying that they can print any libelous nonsense they want about anyone if their denials aren’t sent to the proper email address on time.
This, clearly, is bananas.
By socializing risk, in other words by making others pay for someone else’s mistakes, we make sure those risks will be taken again and again. From Simon Black at sovereignman.com:
Several years ago back in 2004-2006, if you had a pulse, you could borrow money from a bank to buy a house.
In fact, bank lending standards were so loose back then that there were some infamous cases of people who DIDN’T have a pulse who were still able to borrow money.
That’s right. Some banks were so irresponsible that they actually loaned money to dead people.
Of course, it turned out that lending money to dead people… or people with terrible credit who had a history of default, was a bad idea.
And the entire financial system almost blew up as a result of this reckless stupidity.
But then something even crazier happened: the Federal Reserve came in and bailed out all the banks with trillions of dollars of free money.
That was utterly nuts. Instead of being wiped out by their idiotic mistakes, the banks learned that they would always be bailed out no matter how stupid or greedy they acted.
The key lesson was that there would be zero consequences for bad behavior.
Posted in Business, Capitalism, Collapse, Cronyism, Debt, Economics, Economy, Financial markets, Government, Investing, Politics
Tagged bail outs, Japan, Risk, Safety nets
Prophets are without honor in their own countries…and at wedding parties. From Doug “Uncola” Lynn at theburningplatform.com:
They did eat, they drank, they married wives, they were given in marriage, until the day that Noah entered into the ark, and the flood came, and destroyed them all.
– Luke 17:27
Over the last three months I’ve attended three weddings. Whatever getting married in a barn signifies or portends, it’s trending, because that was the case for two out of my last three invitations. Although one of the earlier ceremonies was held in an actual barn, the wedding and reception facilities where I attended this last Saturday appeared to have been specifically remade for human mammals because the venue was beyond elegant.
Being the very first betrothal I can recall ever attending in the month of December, it was no surprise the weather was bad given this time of year. Fortunately, however, all of the important people were there. Again, it wasn’t the storm that mattered that evening, but rather, more importantly, who showed-up for the feast. The accommodations were first class, and with all of the beautiful people in attendance, I commented to another guest it was like being in a movie or, at the very least, at a television awards ceremony.
Perhaps some of the problems young people face are caused by dysfunctional family situations and our failing education system. From James Ostrowski at lewrockwell.com:
Critics are perhaps too quick to judge America’s young people, citing declining SAT scores, obesity, drug overdoses, addiction to smart phones, bizarre alterations of personal appearance and high rates of (alleged) mental illness. It’s just too easy to be annoyed at how some of the cashiers at the local grocery store seem unable to carry on a conversation or have chosen to mutilate their faces with pieces of metal. We are perhaps too quick to condemn the crazed behavior of young protesters in recent years without fully considering what our government, society and culture have done to these poor souls.
Let’s begin at the beginning. Forty percent of Americans are now born out of wedlock. Single parent families are associated with a long list of social maladies:
“Children who grow up with only one of their biological parents (nearly always the mother) are disadvantaged across a broad array of outcomes. . . . they are twice as likely to drop out of high school, 2.5 times as likely to become teen mothers, and 1.4 times as likely to be idle — out of school and out of work — as children who grow up with both parents. Children in one-parent families also have lower grade point averages, lower college aspirations, and poorer attendance records. As adults, they have higher rates of divorce. These patterns persist even after adjusting for differences in race, parents’ education, number of siblings, and residential location.” Sara McLanahan, “The Consequences of Single Motherhood,” American Prospect (Summer 1994).
Posted in Academia, Collapse, Crime, Debt, Economy, Education, Government, Morality, Politics, Society, Taxes
Tagged American youth, college, Families, Job market, Schools
It’s only a matter of time before it all blows up. It’s probably already started. From Jim Quinn at theburningplatform.com:
“This country, and with it most of the Western world, is presently going through a period of inflation and credit expansion. As the quantity of money in circulation and deposits subject to check increases, there prevails a general tendency for the prices of commodities and services to rise. Business is booming. Yet such a boom, artificially engineered by monetary and credit expansion, cannot last forever. It must come to an end sooner or later. For paper money and bank deposits are not a proper substitute for non-existing capital goods. Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.” – Ludwig von Mises – 1952
As the von Mises quote proves, economic cycles, artificial booms created by Federal Reserve easy money and delusional human nature are cyclically constant across the decades. Anyone with an ounce of critical thinking skills realizes the current artificial boom, created by a feckless Fed captured by Wall Street banks and corrupt Washington politicians who took Dick Cheney’s “deficits don’t matter” mantra to obscene levels, will end in another financial crisis. Our Deep State controllers have “solved” a financial crisis caused by too much debt by tripling down on more debt.