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While harboring no love for the fed or their constituent parts, sometimes their articles are factually accurate. Presently then, the only issue here is that we

While harboring no love for the fed or their constituent parts, sometimes their articles are factually accurate. Presently then, the only issue here is that we have an economy overfinancialized amongst large amounts of debt, where successful men are too often those who are most efficient at procuring government guarentees.

woooooo 3y ago
The article makes no argument for or against the level of financialization and debt in the economy, I think you may be bringing some preconceptions. Highest wage firms have to be faang, by number of employees right? Private equity and top legal positions being fewer.
- Geisterde 3y ago
  While ill admit I was popping off without cause last night, I think you are glossing over a few glaring examples. The entire military industrial complex is plagued by this behavior; despite spending more than the next several countries combined and invading several countries to protect "american interests", the world is a less safe place for americans than it was in the 90s, and we have managed to discard a 20 year lead in military technology for a 5 year disadvantage to international competitors. Institutional atrophy is on full display in the auto industry, which along with the airlines fit the criteria of zombie companies, neither are interested in innovation anymore because their market positions are guarenteed by government regulation and the promise of bailouts. Lastly, the most successful at political maneuvering often end up in government themselves, trading the stocks of companies they themselves are regulating, collecting royalties for drugs they approve, enjoying handsomely paying speaking gigs in exchange for their decades of service to their doners. Yes, then there is tech, and it often does prove to pay the best for high skilled work like software development, and thats great. Lets not forget before google, samsung, and microsoft had cloud storage, there was another semi-popular cloud storage company whos owner was raided and placed on house arrest for years. Nor should we forget that companies like twitter were taking government bribes to engage in censorship. Its not like everything thats happened in tech has been a product of the free market, there is quite a bit of government help thats helped solidify the market dominance of certain tech companies.

woooooo 3y ago

The article makes no argument for or against the level of financialization and debt in the economy, I think you may be bringing some preconceptions. Highest wage firms have to be faang, by number of employees right? Private equity and top legal positions being fewer.

Geisterde 3y ago
While ill admit I was popping off without cause last night, I think you are glossing over a few glaring examples. The entire military industrial complex is plagued by this behavior; despite spending more than the next several countries combined and invading several countries to protect "american interests", the world is a less safe place for americans than it was in the 90s, and we have managed to discard a 20 year lead in military technology for a 5 year disadvantage to international competitors. Institutional atrophy is on full display in the auto industry, which along with the airlines fit the criteria of zombie companies, neither are interested in innovation anymore because their market positions are guarenteed by government regulation and the promise of bailouts. Lastly, the most successful at political maneuvering often end up in government themselves, trading the stocks of companies they themselves are regulating, collecting royalties for drugs they approve, enjoying handsomely paying speaking gigs in exchange for their decades of service to their doners. Yes, then there is tech, and it often does prove to pay the best for high skilled work like software development, and thats great. Lets not forget before google, samsung, and microsoft had cloud storage, there was another semi-popular cloud storage company whos owner was raided and placed on house arrest for years. Nor should we forget that companies like twitter were taking government bribes to engage in censorship. Its not like everything thats happened in tech has been a product of the free market, there is quite a bit of government help thats helped solidify the market dominance of certain tech companies.