"campaign finance"
The amount of cash thrown at politics in the US has grown by so much during my lifetime, way faster than GDP, inflation, population, or even wealth accumulation.
It occurs to me that what we're witnessing is an ongoing bidding war between two wealthy factions. Their bids keep going up, because the amount of wealth held inside the US is gigantic. This wealth requires extremely expensive politics to maintain and grow. Plus, a great deal of the international wealth depends on the US-led multinational free trade regime. Multinationals and their owners can spend unlimited amounts of cash on US politics, regardless of where their profits come from.
The bidding wars are going to become much worse. You can see the future in the Republican primary races for US Senate and Governor. The cash auction is becoming insane. Billionaires giving politicians $10 million for their primary races. In Ohio.
We ain't seen nothin' yet. The world's wealthy depend on the US continuing to blow financial bubbles with their capital and that's what they want more of.
It occurs to me that what we're witnessing is an ongoing bidding war between two wealthy factions. Their bids keep going up, because the amount of wealth held inside the US is gigantic. This wealth requires extremely expensive politics to maintain and grow. Plus, a great deal of the international wealth depends on the US-led multinational free trade regime. Multinationals and their owners can spend unlimited amounts of cash on US politics, regardless of where their profits come from.
The bidding wars are going to become much worse. You can see the future in the Republican primary races for US Senate and Governor. The cash auction is becoming insane. Billionaires giving politicians $10 million for their primary races. In Ohio.
We ain't seen nothin' yet. The world's wealthy depend on the US continuing to blow financial bubbles with their capital and that's what they want more of.