#764 Musings Beyond the Bunker (Tuesday October 3)
Good morning,
We have always lived in a world where the powerful make the rules, while often not being subject to those rules. While democracy largely has evened the playing field, there nonetheless are inequities, exacerbated by the power of money in politics, gerrymandering, and unequal economic bargaining power. That said, there often are times when the “little guy” fights back and wins. And there are instances where existing laws on libel, antitrust, and regulation of business behaviors can yield results that might be surprising.
This week brings the promise of some limitations being levied on the excesses of power. Each brings with it a lesson. One is in controlling the monopolistic power and predatory actions of large companies. Another is to draw a line as to how business practices may not include lying for economic advantage. And the final suggests a small victory over minority control exercised by a small number of fringe political players. Here are a few words about each:
Google Search. The government is testing the current state of antitrust law, challenging Google’s overwhelming dominance in search. The government also will be going after Amazon, which has a commanding 40% of the on-line retail business, using its dominance to push others out of business, demand profit-sharing from those whose product it sells, and then going into competition with its product providers. Satya Nadella, Microsoft’s CEO (not exactly a small entity used to being pushed around) testified that Google’s stranglehold cannot be breached. The government’s case against Google will prove it is in the competition crushing business, as is Amazon. Sadly, there will be appeals of however this case is resolved, as antitrust today has been eviscerated to focus primarily on how the consumer is harmed, rather than competition. But we can hope.
Donald Trump and business fraud. This is the first and most meaningful courtroom rebuke of Mr. Trump to date. The judge has found fraud in misstating property values. Now, it’s a question of the extent of the penalty. This isn’t just about reining in Mr. Trump. It also is important acknowledging that one’s statements in business and on Wall Street has limits. Lying for gain is never a good idea but rarely are people held to account. As to the present case, it is a civil matter, so there is not the risk of a jury containing a Trump “true believer” to thwart a unanimous verdict, as is the case in the various criminal matters now working their way through the system. Plus, this case offers the happy byproduct of showing, for all the world to see, how Mr. Trump is hardly the businessman or “dealmaker” he would have us believe.
Working together to keep the U.S. Government in Business. The biggest limitation on the extent of power that is unfolding this week does not involve a court proceeding. It does not involve business. Kevin McCarthy, he without a spine or a sense of political or moral center, found himself this week breaking with the fire-breathing conservatives without an end-game in settling on a plan to keep the government operating in the short term. In order to get something through the House, rather than suffer the ignominy of being responsible for a government shutdown, he had to fashion a bill that would get through with a majority of Democrats and Republicans working together. Imagine that! Now Matt Gaetz, who still doesn’t seem to have had to answer for interstate trafficking of underage girls, threatens to pull the trigger on a vote to unseat Mr. McCarthy as Speaker. It will be interesting to see whether Mr. McCarthy will choose trying to convince members of the hard-right to vote for him or to instead rely upon the Democrats to keep the crazies at bay. For reasons having nothing to do with principle or patriotism, there is a chance the House moves toward a governing middle-ground. In the meantime, Alexandra Ocasio-Cortez has indicated she’ll vote against McCarthy as Speaker in any event, relishing continued division in the Republican party (regardless of increasing the risk of a far-right complete takeover of that party and the Speaker position). Regardless of the outcome, this is the first salvo in the long battle ahead of weakening the power of minority interests who espouse policies that are anathema to the majority of Americans. Baby steps…
‘SOME PEOPLE”
Meanwhile, in his continued statements of bravado in the face of his indictments, Mr. Trump said the Judge in the case should be disbarred. Then, he used his familiar construction of referring to “some people,” by which he means, of course, himself:
“This is a judge that some people say could be charged criminally for what he’s doing.”
AND A FEW DAD JOKES
I’ve been reading a horror book in braille. Something bad’s going to happen. I can feel it.
I wish someone could tell me what “IDK” means. Every time I ask, they say, “I don’t know.”
I got mugged by three dwarves last night… Not happy.
Have a great day,
Glenn