Joe Hits One Out of the Park


President Joe Biden has slammed "capitalism without competition" as raw exploitation and says he's gunning for the megacorporations that control so much of the global economy.

This is not going to go down well with America's "bought and paid for" Congress for whom those same corporations (think Koch Brothers) and their owners or, as Lindsey Graham calls them, the "donor class," call the tune. It also won't go down well for America's deeply corrupted Supreme Court, the hacks who delivered the infamous Citizens United ruling.

Biden called out "a handful of giant companies" squeezing out competition and raising prices on consumers while keeping wages for their workers "unfairly low," making Americans pay more for food while cutting smaller businesses out of the game.

Last July, Biden signed an executive order to promote competition in the country, which included 72 initiatives by over a dozen federal agencies to tackle competition issues. Those included making it easier to change jobs and help raise wages, easing the process to get refunds with airlines, and helping family farmers by strengthening the Department of Agriculture's tools to end abusive practices by meat processors.

According to the White House, a smaller number of large companies control more business than they did 20 years ago in over 75% of US industries, and it's causing prices to surge while holding back wages for workers in more concentrated markets, costing the median American household $5,000 per year.


Comments

  1. TrailblazerJanuary 8, 2022 at 7:34 PM

    President Joe Biden has slammed "capitalism without competition"

    About time too but i doubt it will make sense to most Americans
    I remember Rush Limbaugh saying; why not have a McDonald's in every town and country!
    Such is the attitude of many Americans who see might is right ; they love monopolies particularly US ones.

    TB

    ReplyDelete
    Replies
    1. The Disaffected LibJanuary 9, 2022 at 4:28 PM

      Americans generally, like many Canadians, have become too accepting of corporatism. Our prime minister stands among them.

      Delete

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