As I have stated here on many occasions we got this equation all wrong. The mantra amongst corporatists over the past couple of decades has been “what is good for big business is good for America”. I would amend that to say that what is good for business is not necessarily good for America.
Today we do not have capitalism, but crony capitalism. Many large businesses of all types rely on the profligate spending by the federal government.
For those that did not hear, Walmart warned in its annual business report that cuts in Food Stamps would hurt its business.
This is NOT an anti-Walmart rant. They are simply doing what large businesses do: try to make profits by whatever means necessary. Target, Giant, and K-Mart are no different. Neither are defense/weapons contractors for that matter. It’s just that Walmart is more successful and has recently admitted it. My point here is to further point out how upside down things have become that these large businesses are counting more heavily on uncontrolled federal spending as part of their business plan. Most of the squealing about any defense cuts whatsoever originate from defense contractors who want to keep profits nice and fat. Thank God for Crimea putting that talk to rest, right?
Point here is that the food stamp/SNAP rolls are increasing and that is good for the oligarchs and plutocrats. That’s more profit for companies like JP Morgan Chase who profit handsomely from EBT card use.
What are we going to do when/if the day comes that there are no more EBT cards and corporate handouts?
When reality meets dogma. Reality ALWAYS wins