Some still politely refer to mainstream hacks as journalists or reporters, but more and more they’re called presstitutes or government whores, which are more descriptive and honest. From Bill Bonner at rogueeconomics.com:
OITOU, FRANCE – Our subject this week…
…how the Big Tech companies became such jackasses.
Google, Twitter, Facebook, et al. raced ahead with innovations that brought them millions of customers. They provided the equivalent of an “open mic,” where anyone could sing any tune he wanted. Then, they sold the info to advertisers, who used it to find customers of their own.
But then, the tech companies decided to impose their own musical tastes. If they think you’re off-key, you’ll be canceled, deplatformed, and disappeared.
It happened, famously, to Donald Trump. The ex-president is, of course, a moron. And private companies can cut him off if they want.
But if Twitter took down the accounts of every moron who can’t carry a tune, it would be out of business.
Instead, the social media companies just cut off some morons… not all of them. And therein hangs a tale…
As politics become more important, private companies become more political. That is, when a country’s elite goes mad, its private sector goes mad, too.
Just try opening a bank account.
First, there are fewer local or regional banks; the smaller ones have been less and less able to survive in the world of complex federal control.
Second, the big banks that are left act more like chartered, federal monopolies. They don’t give you a toaster anymore. They give you a grilling…
Who are you? Can you prove where you live? Where did your money come from?
And then, thanks to the Federal Reserve, you put money on deposit and the banks don’t pay you any interest.
ValuePenguin, whatever that is, tells us that the average rate of interest on savings accounts is 0.06%. At today’s inflation rate, a saver loses over 5% per year.
The big banks get their money from the Fed. They are regulated by the Office of the Comptroller of the Currency (OCC). Naturally, they lick the hand of their masters whenever it is offered.