The news is that AT&T is ready to buy Time-Warner in an $80 Billion dollar vertical integration deal that is sure to screw over American consumers for decades to come.
Consumers in America – who already pay more for Internet service than any First World country, and receive the slowest service for their money – will be seeing higher pricers with fewer choices from this far from Free-Market deal.
We are used to hearing about corrupt Russian business oligarchs who are friends of Dictator Putin who get the best deals and screw Russian citizens.
We are used to hearing about corrupt Chinese businessmen, all former Red Army generals who get cosy business deals thanks to connections with the Communist Party and ride those connections to $Billions of profits to be secreted away safely overseas.
Now we are becoming regularly treated to US corporations who use cheap, easily borrowed money to become larger or buy related businesses so they can completely control markets and product distribution, thereby reducing consumers to slaves to price rises, sloppy products and less choice.
We in the US are wrapping up the most contentious presidential election in recent history. Yet, income inequality – the most important issue of the election – has not been mentioned since Bernie Sanders dropped out of the race.
And that is important.
The most recent economic theorists have determined that corporations use behavioral analysis to drive profits.
From this they have deduced: Ignorant, confused, distracted consumers are their ideal targets.
And that is what America is turning out. A nation of consumers with their faces stuffed into their smart phones. Unengaged. Essentially, suckers.
Ford Motor Corp. recently announced they are moving all small car manufacturing down to Mexico. Why? “That’s what our consumers want!” Yes, that was what Henry Ford’s grandson actually said.
Apparently he forgot his grandfather started mass producing automobiles – and employing US workers – so that his workers and those like them could buy good affordable cars. Now, Ford wants consumers to buy big, gas guzzling trucks because that’s where Ford makes the biggest profit margins, so THAT’S what Ford will still produce in the US.
Corporate greed that shortsightedly kills the jobs and well-being of American workers where Ford sits back making millions for executives and stockholders.
There used to be a balance in American corporate boardrooms.
It’s strip the land – and workers – bare and take all that you can and leave nothing while filling your coffers with cash.
All things are cyclical, including business practices. This rampant “Free-Market” – we’ll call it what it really is – “Rape-The-Consumer-Market” – might turn when American business schools, incubators of corporate leaders, start teaching methods that inculcate sustainable business practices.
We’ll see. It works in other countries where they place the good of the whole above No Good For Any. Go ahead: Study the world economics and see.
What you will discover is that America and its political climate where corporate money buys politicians and their votes is on a rapid downward spiral with the superwealthy taking a proverbial piss over the mass majority of Americans – and those Americans not even knowing enough to get their umbrellas out.