Comment on Do people really think setting up domestic manufacturing in the USA is easy?

<- View Parent
conicalscientist@lemmy.world ⁨2⁩ ⁨days⁩ ago

It’s the tech oligarchs. They’re doing their own gilded age. Their empires exist in the tech domain. Mostly IT services. They’re going after the whole pie. They want the entirety of American industry.

What they have in mind exactly is anyone’s guess. We’re not going back to the times of railroad or oil barons. We’re not necessarily going back steel and auto manufacturing. The future is in things like robotics, renewable energy, semiconductors, or whatever the future holds.

I think crashing the economy just to buy stock is old news too. The saying has become rather mindlessly echoed. They have relatively little to gain from this. The rich hold 90% of stocks. There’s little to extract from the remaining 10%. Plus I think people have believed too much in the idea that stocks are a shell game. It’s not as much as people think. The markets are still based on tangibles meaning actual industry. That is what the oligarchs are after. What’s better than owning stock in the industry is the industry itself.

source
Sort:hotnewtop