Tag: corporations

Maybe We’re Closer to ‘You’ll Own Nothing’ Than We Realize

The World Economic Forum’s catchphrase you’ll own nothing and be happy was widely mocked as an eyebrow-raising vision of a “sharing economy” future without the implicit agency granted by full ownership. Renting stuff that one needed only for one-time use has long been a market, and car-sharing makes sense for urban dwellers who only need a vehicle on occasion.

But to own nothing still implies powerlessness and poverty, not happiness, which continues to be associated with owning income streams and nice things, i.e. wealth.

Given our dependence on software / digital rights and the phantom wealth of credit-asset bubbles,”how much do we actually own?” is a fair question. Consider the recent New York Times article Why Tech Companies Are Not Your Friends: Lessons From Roku, which was reprinted in other publications with the more accurate title Our Gadgets Are Not Ours.

The gist of the article is that since we don’t own control of the software, our “ownership” of the device is illusory. Here is an excerpt:

More than a decade ago, when we bought a TV it was just that–a big screen that let you plug into it whatever you wanted. Nowadays, the vast majority of TVs connect to the internet and run the manufacturer’s operating system and apps. Even though you bought the TV, the software component, a major part of what makes the product work, remains controlled by the company.

Changes to the product’s software interface and data collection practices can happen at any moment. In extreme examples, a device can stop working. In 2020, for instance, Amazon deactivated the Echo Look, a camera that helped people organize their wardrobes. It issued a promotional credit for owners to buy a different Amazon gadget that lacked similar features.

The less extreme, more common situation is when companies stop supporting older products because they need to sell new gadgets. Apple’s original Apple Watch from 2015, for example, no longer gets software updates and now barely works.

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Biden’s Economic Policies, Not Corporate Profits, Are Driving Inflation

Bread line, image courtesy of Antonio Graceffo

In the first year of the Biden administration, inflation hit a 40-year high and has continued to climb steadily since then. However, he blames the problem on “evil corporations,” not his own misguided economic policies.

“Too many corporations raise prices to pad their profits, charging more and more for less and less,” said President Biden in his most recent State of the Union Address. His administration has driven the deficit, expanded the debt to historic levels, printed money, increased the money supply, and given away trillions of dollars to people who do not work and to foreign countries, but he blames corporations for inflation. And to “protect” the public from the evil capitalist system where everyone is free to buy, sell, trade, and earn as they wish, he has vowed to crack down on “price gouging.” Ostensibly, the White House will decide what the “correct” prices should be and which prices are being gouged, and the government will use its vast power to force corporations to return those prices to a federally determined level.

The Federal Reserve Bank of Kansas City blames inflation on corporate profits. Some reports claim that corporate profits accounted for as much as 53% of inflation. The reality, however, is that inflation is a monetary phenomenon caused by the reckless fiscal and monetary policies of the Biden administration.

Inflation, by definition, is the expansion of credit and the money supply. This causes the buying power of the dollar to decrease, which means you need more dollars to buy things. Most consumers see and are alarmed by rising prices, but this is not inflation; it is only the result of inflation. The real culprit is massive debt creation, deficit spending, loan forgiveness, foreign aid, and transfer payments made by the Biden administration.

Evidence used by the White House and other liberal pundits regarding inflation reference the fact that corporate profits are up, identifying this as a cause of inflation. However, corporate profits are up in nominal terms because the dollar is worth less and prices are rising. Corporations took in more dollars, but those dollars buy fewer raw materials and pay for less labor than they did before Biden took office. The same administration that blames corporations for rising prices is also demanding that the minimum wage be doubled. Labor accounts for between 20% and 40% of cost for most retail and fast food businesses. Forcing a doubling of the minimum wage will drive prices up.

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‘Always Looking to Make Sure Nobody’s Following Me’: Boeing Whistleblower Fears for Life After Colleagues’ Deaths

A man blowing the whistle on manufacturing problems at a Boeing Company contractor says he’s constantly looking over his shoulder after two fellow whistleblowers also suing the company died under mysterious circumstances.

Spirit AeroSystems inspector Santiago Paredes told The Independent he doesn’t believe the conspiracy theories about assassins being hired by the airline, however, he says he’s still cautious.

“I don’t think so,” Paredes replied when asked if he thought anything nefarious occurred to the two whistleblowers who died in the past three months.

“But, you know, I’m always looking behind my mirror to make sure nobody’s car’s following me,” he added.

“I’m not saying that I’m scared, but at the same time, I can’t put a blind eye to the reality of what could be. I have to prepare myself for that,” Paredes stated.

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Visa Rolls Out Tech To Share More Data on Customers’ Shopping History With Retailers

Visa, one of the world’s two largest payment card services, is launching new, proprietary technology that will allow it to give retailers even more data collected from its customers.

The move is seen as Visa working hard to keep up competing with the other giant – Mastercard – but also, fintech firms like Plaid.

The latter’s business, in terms of Visa considering it a rival, is revealing: it’s to power fintech and associated products with a data transfer network – specifically, a platform that “enables applications to connect with [a] user’s bank account.”

Visa’s “fear of missing out” on another lucrative personal data and customer behavior-based money grab is taking the form of “tokens” which allow banks and merchants to communicate so that banks can share customer data that offers insight into their preferences based on past transactions.

Reports say that this requires customers’ consent – but then also quote Visa Chief Executive Officer Ryan McInerney as saying, “It’s almost entirely blind to almost all consumers. They just know their payments work better.”

McInerney came up with a brand new way to phrase “opt-out” – he said the tokens come with consent “as the foundational premise.” The visa exec brazenly referred to this as “putting [the] customer in control”:

“Consumers will have the option, through their bank app, to revoke access to their information.”

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Hemp Industry Pushes Back Against Marijuana Companies Advocating For Intoxicating Cannabinoid Ban In Farm Bill

Hemp businesses, marijuana companies, state regulators, prohibitionists and congressional lawmakers are all vying to have their cannabis priorities represented in the forthcoming Farm Bill. But while there are shared interests among certain stakeholders, some competing proposals have created tension in unexpected ways.

The hemp industry, for example, is at odds with select marijuana companies that are aligned with prohibitionists—with the strange bedfellows in agreement on proposed restrictions on intoxicating hemp-derived cannabinoids such as delta-8 THC.

“Policy challenges related to hemp are complex, and several steps are required to fully address them,” U.S. Cannabis Council (USCC) Executive Director Edward Conklin said in a letter to congressional leaders last month. “However, the most important and time-sensitive of those steps is within your control and well within the authority of the Farm Bill: Close the loophole created by the current definition of hemp established by the 2018 Farm Bill and create a regulatory pathway for non-intoxicating products.”

The language recommended by USCC, which represents major cannabis companies, would remove intoxicating cannabinoid products intended for consumption from the definition of federally legal hemp and reclassify them as federally illegal marijuana products.

Likewise, the prohibitionist Community Anti-Drug Coalitions of America (CADCA) sent out an alert to supporters last week saying they “strongly recommend that the loophole caused by the 2018 Farm Bill definition of hemp be closed by adding clarifying language to the 2024 Farm Bill definition of hemp to explicitly exclude intoxicating semi-synthetic cannabinoids derived from hemp.”

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Boeing is celebrating the latest employee to come forward with dirt on the company ‘for doing the right thing’

The Boeing employee who raised an issue with the 787 Dreamliner’s quality checks to his superiors did the “right thing,” a senior executive of the company said last week.

“I wanted to personally thank and commend that teammate for doing the right thing,” Scott Stocker, who heads the 787 manufacturing program, said in an internal memo on April 29.

“It’s critical that every one of us speak up when we see something that may not look right, or that needs attention,” Stocker said in his memo, which was obtained by Business Insider.

On Monday, the Federal Aviation Administration said it was investigating whether Boeing employees falsified plane safety records for the 787. Boeing, the FAA said in its statement, told the regulators about the lapse voluntarily.

A spokesperson for Boeing told BI’s Matthew Loh on Tuesday that they did notify the FAA and that the lapse wouldn’t pose “an immediate safety of flight issue for the in-service fleet.”

“We will use this moment to celebrate him, and to remind us all about the kind of behavior we will and will not accept as a team,” Stocker said of the employee who spotted the problem.

Stocker’s commendation comes at a tense time for the Boeing. The company is now under intense scrutiny following repeated quality assurance lapses in recent years.

In January, a door plug from a Boeing 737 Max 9 blew out mid-flight, prompting the FAA to order the grounding of over 170 such planes.

“Near term, yes, we are in a tough moment,” Boeing CEO Dave Calhoun said in a letter to his employees last month. “But safety and quality must and will come above all else.”

Two Boeing whistleblowers have also died suddenly in the past two months.

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Boeing Whistleblower Who Died Suspiciously Said This to His Friend Before His Death: ‘If Anything Happens to Me, It’s Not Suicide’

A former Boeing manager and whistleblower, John Barnett, had told a close friend days before his untimely death that if anything happened to him, it would not be suicide.

The Gateway Pundit previously reported that Barnett was found dead from what appeared to be a self-inflicted wound inside his car in a hotel parking lot shortly after testifying against the aerospace company.

Barnett had accused Boeing of neglecting safety concerns and retaliating against him for his disclosures.

The 62-year-old, who had a 32-year tenure with the company until his retirement in 2017, died on March 9 during a break from depositions in a whistleblower retaliation lawsuit.

“Barnett’s death came during a break in depositions in a whistleblower retaliation suit, where he alleged under-pressure workers were deliberately fitting sub-standard parts to aircraft on the assembly line.” the Daily Mail reported.

Charleston police are investigating after Barnett was found in his truck “suffering from a gunshot wound to the head.”

According to the Daily Mail, Barnett was reportedly found with a ‘silver handgun’ in his hand and his finger on the trigger.

In the wake of his death, a suicide note was reportedly found near Barnett, raising questions and skepticism among his legal team.

His attorneys, Robert Turkewitz and Brian Knowles, have publicly questioned the conclusion that Barnett took his own life, urging the Charleston police for a thorough investigation.

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Boeing Woes Also Infecting Military Aviation

The failures at Boeing, by design in our opinion, have reached military aviation. The following memo from Boeing to the U.S. Army is being circulated.

Shoe writes, “In light of all the news about Boeing, defective parts, and whistleblowers dying, someone sent me this memo sent from Boeing to the Army, and it’s shocking. The Army just had another Apache crash two days ago on Fort Riley. We don’t know the cause of the crash, but we do know there have been AT LEAST two catastrophic tail rotor failures over the last two years. This memo says from 2019 to 2024 there have been defective tail rotor blades coming from the manufacturer. Over 4000 of them. These blades have been in use and installed fleet wide and are not reaching their expected service life of approximately 6600 hours. Many not even close to that at all. The Army and Boeing have been good about keeping this all hush hush.

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Boeing faces 10 more whistleblowers after two die: ‘People’s lives are at stake’

The sky is falling — at least on Boeing.

A second whistleblower has died under mysterious circumstances, just two months after another one allegedly shot himself in the head — and the attorneys for both men hope their deaths don’t scare away the at least 10 other whistleblowers who want the company to clean up its act.

Joshua Dean, 45, a former quality auditor at Spirit AeroSystems which assembles fuselage sections for Boeing, died Tuesday morning from a fast-growing mystery infection.

Dean’s death comes less than two months after Boeing whistleblower John Barnett, 62, died from an apparent self-inflicted gunshot wound on March 9.

Barnett, who had worked for Boeing for 32 years, was found dead in his Dodge Ram truck holding a silver pistol in his hand in the parking lot of his South Carolina hotel after he failed to show up for the second part of his testimony for a bombshell lawsuit against the company.

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How Blackrock Investment Fund Triggered the Global Energy Crisis

Most people are bewildered by what is a global energy crisis, with prices for oil, gas and coal simultaneously soaring and even forcing closure of major industrial plants such as chemicals or aluminum or steel. The Biden Administration and EU have insisted that all is because of Putin and Russia’s military actions in Ukraine. This is not the case. The energy crisis is a long-planned strategy of western corporate and political circles to dismantle industrial economies in the name of a dystopian Green Agenda. That has its roots in the period years well before February 2022, when Russia launched its military action in Ukraine.

Blackrock pushes ESG

In January, 2020  on the eve of the economically and socially devastating covid lockdowns, the CEO of the world’s largest investment fund, Larry Fink of Blackrock, issued a letter to Wall Street colleagues and corporate CEOs on the future of investment flows. In the document, modestly titled “A Fundamental Reshaping of Finance”, Fink, who manages the world’s largest investment fund with some $7 trillion then under management, announced a radical departure for corporate investment. Money would “go green.” In his closely-followed 2020 letter Fink declared,

“In the near future – and sooner than most anticipate – there will be a significant re-allocation of capital…Climate risk is investment risk.” Further he stated, “Every government, company, and shareholder must confront climate change.” [i]

In a separate letter to Blackrock investor clients, Fink delivered the new agenda for capital investing. He declared that Blackrock will exit certain high-carbon investments such as coal, the largest source of electricity for the USA and many other countries. He added that Blackrock would screen new investment in oil, gas and coal to determine their adherence to the UN Agenda 2030 “sustainability.”

Fink made clear the world’s largest fund would begin to disinvest in oil, gas and coal.  “Over time,” Fink wrote, “companies and governments that do not respond to stakeholders and address sustainability risks will encounter growing skepticism from the markets, and in turn, a higher cost of capital.” He added that, “Climate change has become a defining factor in companies’ long-term prospects… we are on the edge of a fundamental reshaping of finance.” [ii]

From that point on the so-called ESG investing, penalizing CO2 emitting companies like ExxonMobil, has become all the fashion among hedge funds and Wall Street banks and investment funds including State Street and Vanguard. Such is the power of Blackrock. Fink was also able to get four new board members in ExxonMobil committed to end the company’s oil and gas business.

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