4 ms·

I think it's becoming crystal clear Americans live in an oligarchy, not a democracy.

by empressplay 6y ago

justinzollars 6y ago
or Mussolini style Italian Fascism. Corporatist economics and authoritarianism
- sidlls 6y ago
  You're being downvoted, but you're not really wrong. It might present differently, but the reality is that the government and large, powerful corporations are separate entities more or less in name only. If the interests of a large corporation serves the interest of the people in the government, they'll move every lever of government they can to support the corporation, and vice versa. That's basically exactly what the fascism you describe intended and attempted.
  - sudosysgen 6y ago
    Indeed. What separates fascism from authoritarianism is the merger of state and corporation. If you mix the convergence of state and government along with the effective dissolution of the rights to privacy and the rights to free speech, along with the post-truth nature of so much of today's media (remember WMDs? It's not just Fox News), the argument that we're approaching some kind of fascism isn't completely devoid of merit.
  - justinzollars 6y ago
    Thanks.
- deleted 6y ago
  [deleted]
- tesmar2 6y ago
  How exactly was this not the free market? Did robinhood do something illegal and break their contract?
  - warent 6y ago
    A corporation unilaterally deciding and altering market conditions is a free market?
    - tesmar2 6y ago
      What they did sucks. But I am wondering what contract did they break?
      - 93po 6y ago
        The laws enforced by the SEC
        tesmar2 6y ago
        If so, then prosecute. Which law specifically?
        warent 6y ago
        I'm assuming you're trying to corner a point of "You cannot cite a specific law because it doesn't exist" without outright saying it. It seems plain that, at best, Robinhood has violated its fiduciary, and at worst manipulated the market. This is one of those things I've come to understand as being illegal in the same way that I know insider trading is illegal. No, I cannot cite which law makes insider trading illegal. Maybe you're right and there is no law. I personally don't have the time or experience to go digging through legal text to treat HN like an official courthouse. We will know by the results of the lawsuits, or by a video from the Legal Eagle on YouTube.
        tesmar2 6y ago
        Insider trading is illegal. And I think what robinhood did should be /unless they explicitly stated they could do so in their terms and people went in with eyes wide open/. I imagine it is, as it seems pretty close to market manipulation, I just want to be careful and understand what’s really going on. Besides, along with individuals or corporations we should be going after the fed who really manipulates markets and steals from the poor. End the fed.
SirensOfTitan 6y ago
> Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence. From 2014: https://www.cambridge.org/core/journals/perspectives-on-politics/article/testing-theories-of-american-politics-elites-interest-groups-and-average-citizens/62327F513959D0A304D4893B382B992B https://www.cambridge.org/core/journals/perspectives-on-poli...
pipeoperator 6y ago
Apparently the US is now considered an anocracy [0] losing the title of the world’s oldest, continuous democracy. [0] https://www.systemicpeace.org/ https://www.systemicpeace.org/
- shard972 6y ago
  It was a republic though

I think it's becoming crystal clear Americans live in an oligarchy, not a democracy.

justinzollars 6y ago

or Mussolini style Italian Fascism. Corporatist economics and authoritarianism

sidlls 6y ago
You're being downvoted, but you're not really wrong. It might present differently, but the reality is that the government and large, powerful corporations are separate entities more or less in name only. If the interests of a large corporation serves the interest of the people in the government, they'll move every lever of government they can to support the corporation, and vice versa. That's basically exactly what the fascism you describe intended and attempted.
- sudosysgen 6y ago
  Indeed. What separates fascism from authoritarianism is the merger of state and corporation. If you mix the convergence of state and government along with the effective dissolution of the rights to privacy and the rights to free speech, along with the post-truth nature of so much of today's media (remember WMDs? It's not just Fox News), the argument that we're approaching some kind of fascism isn't completely devoid of merit.
- justinzollars 6y ago
  Thanks.
deleted 6y ago
[deleted]
tesmar2 6y ago
How exactly was this not the free market? Did robinhood do something illegal and break their contract?
- warent 6y ago
  A corporation unilaterally deciding and altering market conditions is a free market?
  - tesmar2 6y ago
    What they did sucks. But I am wondering what contract did they break?
    - 93po 6y ago
      The laws enforced by the SEC
      - tesmar2 6y ago
        If so, then prosecute. Which law specifically?
        warent 6y ago
        I'm assuming you're trying to corner a point of "You cannot cite a specific law because it doesn't exist" without outright saying it. It seems plain that, at best, Robinhood has violated its fiduciary, and at worst manipulated the market. This is one of those things I've come to understand as being illegal in the same way that I know insider trading is illegal. No, I cannot cite which law makes insider trading illegal. Maybe you're right and there is no law. I personally don't have the time or experience to go digging through legal text to treat HN like an official courthouse. We will know by the results of the lawsuits, or by a video from the Legal Eagle on YouTube.
        tesmar2 6y ago
        Insider trading is illegal. And I think what robinhood did should be /unless they explicitly stated they could do so in their terms and people went in with eyes wide open/. I imagine it is, as it seems pretty close to market manipulation, I just want to be careful and understand what’s really going on. Besides, along with individuals or corporations we should be going after the fed who really manipulates markets and steals from the poor. End the fed.

SirensOfTitan 6y ago

> Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence. From 2014: https://www.cambridge.org/core/journals/perspectives-on-politics/article/testing-theories-of-american-politics-elites-interest-groups-and-average-citizens/62327F513959D0A304D4893B382B992B https://www.cambridge.org/core/journals/perspectives-on-poli...

pipeoperator 6y ago

Apparently the US is now considered an anocracy [0] losing the title of the world’s oldest, continuous democracy. [0] https://www.systemicpeace.org/ https://www.systemicpeace.org/

shard972 6y ago
It was a republic though