Because of the tax laws in the United States an oligarch class has emerged so wealthy they literally live in another society, effectively governed by different uses of the laws. This group is also increasingly taking control of the media to make sure only their views are espoused by the newspapers, magazines, television channels, and credit card and banks they own. We are becoming a fascist-controlled nation, and I don’t think most Americans have any real comprehension of what is happening.
The Baltimore Sun front page is seen, Tuesday, Jan. 16, 2024, in Baltimore. David D. Smith, executive chairman of the Sinclair broadcasting chain and an active contributor to conservative causes, has bought Baltimore Sun Media from the investment firm Alden Global Capital. Credit: Lea Skene / AP
David D. Smith, leading stockholder of Sinclair, Inc., announced on January 15 that he was purchasing what is left of the Baltimore Sun, once regarded as the crown jewel of the Maryland city’s media (AP, 1/15/24).
Sinclair is a multi-billion dollar Fortune 500 company and one of the largest owners of television stations in the country. The company has been criticized for its conservative and not always accurate TV news coverage (Salon, 7/21/17; New Yorker, 10/15/18). In 2018, the company compelled local TV news anchors around the country to read on air the same copy parroting President Donald Trump’s claims about “fake news” (Deadspin, 3/31/18).
The decline of the Sun has been happening for years before Smith’s purchase. The outlet was purchased […]
Yet another report describes how a tiny group of oligarchs increased their control over the American economy. Seven tech companies alone, as this report describes, would by themselves be the second largest stock market in the world. The wealth of the individuals who control these companies is only possible because of what the Republicans have done to rig the tax structure to favor the rich.
The so-called “Magnificent 7” U.S. tech behemoths encompass Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla.
In a research note Tuesday, Deutsche Bank analysts highlighted that the Magnificent 7′s combined market cap alone would make it the second-largest country stock exchange in the world.
However, this level of concentration has led some analysts to voice concerns over related risks in the U.S. and global stock markets.
The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research.
The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths — Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla — outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined.
Deutsche Bank analysts highlighted that the Magnificent 7′s combined market cap alone would make it the second-largest country stock exchange in the world, double that of Japan in fourth. Microsoft and Apple, individually, have similar market caps to all combined listed companies in each of France, Saudi Arabia […]
Oliver Laughland, Southern Bureau Chief9 - The Guardian (U.K.)
Stephan:
Republican voters put Jeff Landry into office as governor. Now he is moving Louisiana, which is basically except for New Orleans a third-world country, further into christofascism. The state already has horrible social wellbeing stats, and they will now get worse. It amazes me to watch people vote into office fascists who destroy their democracy, healthcare, education, and general wellbeing. And to observe evangelicals say and actually believe that criminal Trump is God’s choice for president. IS the UNited States going to survive as a democracy with racial and religious equality? I’d say the answer to that question is far from settled.
Jeff Landry became governor of Louisiana last month. Credit: Evan Vucci / AP
NEW ORLEANS, LOUISIANA — Louisiana’s Republican-dominated state legislature is poised to enact a swathe of new criminal justice measures as a special legislative session convenes on Monday, leaving reform advocates concerned about soaring rates of incarceration that may follow.
The session, called by the state’s new far-right governor, Jeff Landry, will consider two dozen items including broad restrictions on parole eligibility, measures to resume executions, the lowering of the age limit for adult prosecutions, and changes to post-conviction procedures often used to remedy wrongful convictions or excessive sentences.
Landry, the state’s former attorney general, came to office in January after a campaign centered on hardline law and order. A former sheriff’s deputy, he was sworn into office in a ceremony lined […]
Abdullah H. Hammoud, Mayor of Dearborn, Mich., and a Democrat. - The New York Times
Stephan:
This is bad news for the Democrats and I am not surprised. I think President Biden is making major mistakes in his policies about Israel. It was a mistake to keep sending to Netanyahu the bombs that were used to kill thousands of Palestinians, also a mistake to veto the U.N. attempt to end the violence. And his failure to work out a way to support Ukraine is of concern. His age today is not an issue for me. I am older than he is and feel quite competent to work. My problem is that he will be 86 by the end of his second term, and I think that is too big a risk for the country. I think Biden should step aside and retire, and let a new generation of Democrats run against criminal Trump, and campaign for them. My ticket would be Gavin Newsom and Gretchen Whitmer. I feel like I am being forced to vote between a decent but aging Democrat, and an aging and utterly criminal Republican.
Protesters in Dearborn, Mich., earlier this month. Credit: Nick Hagen / The New York Times
“Dearborn doesn’t sleep,” I recently told an out-of-state visitor to my hometown.
It was a reference to the celebratory time of Ramadan, when our city breaks bread together for iftar at sunset and suhoor, before sunrise, each day. For a month, Dearborn is bustling around the clock: Business districts buzz during the day, and residents and visitors flock to break the fast together every night, gathering over hot, heaping plates filled with some of the best food in the country, surrounded by neighbors of all backgrounds.
I have always spoken these words with warmth and pride for my community, but after 130 days of genocide in Gaza, the phrase has taken on new meaning.
Dearborn does not sleep. We have not slept. Our entire city is haunted by the images, videos and stories streaming out of Gaza. Life seems heavily veiled in a haze of shared grief, fear, helplessness and even guilt as we try to understand how our tax dollars could be […]
Mira Rojanasakul and Marco Hernandez, - The New York Times
Stephan:
Two things are going on in the coastal states of the U.S. as this report describes. The seas are rising and, because of overpumping of ground water the land is siinking. The result is an ongoing disaster that will disrupt the wellbeing of milllions. It is another example of the failure of our corrupt government, particularly the MAGAt Republicans, but also the Democrats to develop the national policies and programs we are going to need to maintain national wellbeing. I don’t think it is going to happen so, as I have predicted, I think we are going to see a massive internal migration away from the coasts.
East Coast of U.S. Credit: New York Times
New satellite-based research reveals how land along the coast is slumping into the ocean, compounding the danger from global sea level rise.
A major culprit: overpumping of groundwater.
The most vulnerable areas of Boston have been sinking up to 3.8 centimeters per decade, which adds up to nearly 10 centimeters by 2050, based on the analysis of satellite data from 2007 to 2020.
Parts of New York City and Long Island are sinking over 3 centimeters per decade.
Atlantic City is sinking up to 4 centimeters per decade. Nearby groundwater pumping has caused soils to compact.
Several hotspots in Maryland are sinking over 10 centimeters per decade, while other areas are rising. Adjacent land moving at different rates can put infrastructure at risk.
