…a.k.a. Fascism is upon us. Joel Kotkin explains how and why.
Local banks have disappeared and been replaced by online and large national financial institutions. Between 1983 and 2018, the number of banks fell from 11,000 to barely 4,000. This is not an anomaly, but a trend.
Today, a handful of giant corporations account for nearly 40 percent of the value of the Standard and Poor Index, a level of concentration unprecedented in modern history.
Alphabet, Amazon, Apple, Facebook, and Microsoft now make up 20 percent of the stock market’s total worth.
And Kotkin goes on to explain, in revolting detail, just what that means to us ordinary people.
It’s not enough to obey Big Brother and it’s not enough to love Big Brother; now you have to do business with Big Brother, if you want to have any kind of life.
I knew things were bad… I just didn’t know how bad. Read the whole thing; why should I be the only one depressed?
And now, if you’ll excuse me, I’m off to the range. I only get to move back into the apartment after lunch, so I might as well do something productive till then.