For four years, America has shuddered watching Donald Trump, the poor man’s Benito Mussolini, do his Il Duce imitation. True, Trump’s timely political demise must be celebrated, but we cannot ignore a much greater long-term threat to democracy – a threat that could be further accelerated by Washington’s new regime.
Under the benevolent eyes of Uncle Joe, we may soon find ourselves under an updated version of the fascist “corporate state” – an alliance between political leaders and a handful of ultra-rich, ultra-powerful corporations that increasingly dominate the economy and culture. This new American-style corporate state does not reflect a conspiracy but the politics of a society with unprecedented concentrations of wealth and power.
These companies, based largely in the tech industry, have benefited massively from the lockdowns and now account for nearly 40% of the value of the Standard and Poor Index, a level of concentration unprecedented in modern history. as the giants grow even bigger, up to 30 percent of US small businesses face bankruptcy and the ranks of the poor have risen by 8 million.
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