Saturday, August 19, 2017

Who Is Pro-Business? Steve Bannon or the Financial-Media-Tech Complex?

Steve Bannon has left the White House. Various ways can characterize it. He left as planned, he was ousted, Chief of Staff John Kelly is trying to create some order. 

Courtney Weaver and Shawn Daonnan write in the Financial Times, "Bannon goes on offensive after White House ousting." What they write exemplifies the disconnect between the elite and the reality on the ground. I will focus on one particular statement:

They characterize Mr. Bannon as having "clashed with pro-business moderates within the administration." The Goldman Sachs troika and their allies are "pro-business" only in the sense of being for large multi-nationals, investment bankers and their allies in the financial-media-tech complex that prospers at the expense of small businesses and ordinary Americans. 

The financial-media-tech complex destroys jobs, while the little guys have always been the source of 80% of America's job growth. Even here in Kansas, Republican Brownback subsidizes Amazon while the Seattle Goliath drives community building small books stores out of business

Why has job growth slowed? Why have we had the slowest economic recovery in a hundred years? The "reforms" of the last eight years have stifled the little guys while protecting the big guys. Is it any surprise we have had increased income inequality and slower growth? The elites get fatter, while Everyman and the community he or she lives in dies.