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Clif Brown's avatar

The MIC is a symptom of THE problem of the US which is profit before people.

The "defense" budget proves this annually, but if there is anything that nails it, it was the bailout of the megabanks back in the housing crash. Then the choice was clear: help the mortgage holders with a home suddenly worth much less than the mortgage, or protect bank profit, pretend that the mortgages had value and have Uncle Sam buy the "financial instruments" based on those mortgages with government funds. Put simply, the government created money and gave it to the banks.

It was never a choice, all the "advisors" were part of the system. Wall Street was bailed out. No underwater homeowners attended the meeting between Obama and the bankers to decide what to do. All of this was done in broad daylight, Jamie Dimon and Lloyd Blankfein staying in charge. There was no breakup of TBTF banks or even an attempt at it.

The conductor of this travesty, "Mr. Hope" Obama, was re-elected, but would private equity star Mitt Romney have been a better choice on this issue of profit before people? As always, we the people have no choice on offer. Private equity (the "leveraged buy-out" guys) now owns more companies than the number listed on the stock exchanges, and the ownership is for the express purpose of squeezing profit, not product, from those privately held companies.

Our corrupt Congress was unable to do more than come up with Dodd-Frank that has steadily been neutered by successful lobbying since. And speaking of Congress - what is the response to the outrageous shenanigans of stock buy-backs? A whopping 1% tax on them. And what has the new-blood, The Squad, done to stand up to power (Pelosi)? Nothing. Pelosi has been replaced with Pelosi II, Hakeem Jeffries.

What is the way out? All exits are blocked, I mean bought.

Denise Donaldson's avatar

"I'm not sure of the relevance of comparing big oil or big tobacco to the MIC."

Big tobacco, no, because, as rapacious as it is, its damage is relegated to individual choice (and, of course, the associated healthcare burden, which is not insignificant). Besides, the tobacco industry doesn't have the hold on the country that it once did.

Big Oil is another story, and comparing it to the MIC is entirely relevant. We the people have even less control over Big Oil than we do the MIC, and we know that, absent repeated tsunamis of protest---chances of those being nonexistent at present---we won't affect the MIC. Big Oil is collectively out of our reach.

The symbiosis between the MIC and Big Oil is fundamental, and is essential for the survival of the MIC: they feed on each other. Shut down Big Oil, and the MIC grinds to a halt. Meanwhile, the MIC partially justifies the existence of Big Oil.

As a result of its fossil fuel usage, the MIC produces enormous amounts of greenhouse gasses and other pollution.

https://www.popsci.com/environment/military-greenhouse-gas-emissions-data/

Both Big Oil and the MIC have a stranglehold on this country (and by extension, the world, one could argue), and there's no practical solution right now to getting rid of either one, so looking at them in tandem makes sense. Indeed, one can't look at either without looking at the other, IMO.

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