Remember, this is the system that’s supposed to reindustrialize the US and compete with China
And it might even work, but only ever on paper. The U.S. economy is nearly entirely built around moving money at this point. One third of the U.S. GDP is a result of the private healthcare system. As China bolsters its manufacturing instead of abandoning it, continuing to create high quality, high tech jobs in the field, the United States tries to appear competitive in terms of GDP.
This Red Lobster example so perfectly encapsulates the state of consolidation that late capitalism in the United States has entered. Any recorded profits by the hedge fund that bought out Red Lobster were partially because it chose to vamipirically suck value out of every real and tangible thing that actually took decades of infrastructure, labor, and business integration to build. It’s very analogous to soil degraded from too much intensive agriculture, so the farmer has to constantly cut down new forests to harvest crops. Each new patch of forest cut down for extremely temporary intensive agriculture (read: short term economic gain) is the parasitic bourgeoisie leeching the real, tangible societal value of things like Red Lobster away from the masses.
Eventually the owning class was going to have to begin removing jenga blocks from the bottom of the tower to have more at the top, and we are watching said tower become unstable just like every Marxist economist in history said it would. The mode of working class exploitation has already deeply expanded from labor exploitation just 60 years ago, to EXPECTED and increasing indebtedness as soon as adulthood is reached.
America will never ACTUALLY compete with China in this state. America makes nothing, and given examples like Red Lobster here, where we see the systematic dismantling of tangible things which took decades to build, America arguably makes less than nothing. It has been reduced to a capital scrap yard.
I need to start learning Chinese
Language learning is good for the brain anyway. Do it comrade
it was when USians started deliberately buying the diseased milk (to own the libs) that I felt China might realistically be #1 very soon.
say it aint so
no, it must have been the unlimited shrimp
Headlines keep repeating that but it’s clear that the PE firm saddled RL with debt and became an exclusive supplier. They probably more than recouped their investment but maybe not on paper
but maybe not on paper
Always need those “losses” for the tax breaks.
Now I’m imagining that anyone who went in for unlimited shrimp was probably eating shit-tier mercury pills.
🦐🦐🦐
Olive Garden gonna have to cut back on their bread sticks if they want to see another sunrise.
Aww yeah, it’s stripping the copper out of the walls time
Similar story for Radio Shack, Sears, Blockbuster. Hedge Funds nfunds circle at the sign of first blood and ensure that every injury is fatal
Toys R Us too
The problem with Capitalism is eventually you run out of shrimp.
Corpos are the most efficient though!
Its called recycling sweaty!
to avoid giving myself away, i work in a public support role for a sector. that sector has hemorrhaged workers since forever, but let’s say it has gotten really bad in the last 20 years. the public institutions know this, but try to frame it as an efficiency thing. though with so many collapsed communities and their corpses dotting the landscape, they can’t really claim this has all been a win in public.
anyway, we operate in an austerity environment of “cuts-cuts-cuts/do more with less!” so when a few years ago a tech bro douche showed up on the scene and promised to recreate the entire region into a mecca of a very specific and capital intensive form of activity in this industry, the administrators of agencies and public institutions all rolled around on their backs like servile dogs for him. the hype train and red carpet were incredible. after decades of “well, there’s no money for anything”, suddenly the taps are open, but all for flash and pomp. nothing to actually materially benefit the people here. so much hype. around the same time, a capital formation from western europe (via universities, state agencies, business groups) started making connections to our institutions in a more circumspect manner, looking to “explore feasibility” in expanding this same activity in our region. their state goals are to build our capacity for “professional development” (worker training they don’t have to pay for) and increase our capacity so we can become clients of their intellectual property/technology licensing.
those of us with any kind of actual material politics understood the tech bro was doing a hype pump and dump, while the western europeans were here do to some longer term colonialism. our energy and labor costs are rock bottom. it was baffling how the decision makers could not see what the tech bro was doing, who was the more nakedly obvious of the two with the media blitz of bullshit. they were not even aware of the ongoing court cases for fraud filed by his own investors as they happened. they just saw a really rich guy and started drooling and nuzzling his crotch.
of course, in the wake of the last year, tech bro’s bubble popped and all of that shit folded with nothing to show for it. the sycophants were shell shocked, and pretended we hadn’t urged caution the entire time. the western european colonizers though, are still around and inserting their tentacles into everything. paying for little travel junkets so do nothing clowns with high salaries can feel important. these decision makers are simply fucking enchanted with them and literally refuse to see the transaction for what it is: a fire sale of our natural and human resources for the exact same assholes that have been doing this for centuries.
“It’s not perfect but it’s the best system we have!”
Normal, logical system: owners/stakeholders of an organization do everything in its power to make sure it fails at the first sign of struggle to squeeze the last ounce of profit, abandon it, then ask the taxpayers for compensation
Death to America
Most rational capitalist enterprise
Hedge fund sold the land to who?
Biance line
When he fuck me good, I take his ass to Red Lobster
