.@froomkin's powerful lede of must read piece:
"Holding the powerful accountable is the noblest and most essential goal of the journalistic profession. But 2021 may go down in history as the year that our major newsrooms — shamefully — gave up on it."https://t.co/6QtP6ETR2m
— Joe Sudbay (@JoeSudbay) January 4, 2022
Media fail
“Capitalism without competition isn’t Capitalism–it’s exploitation,” said Joe Biden on Monday.
US inflation rose 6.8% in 2021.
Turkey’s inflation rose 36.1% in 2021.
The price of food in Turkey rose 43.8% and in the US 16% in 2021.
Biden also said on Monday that 4 companies in the US control 85% of the beef market and 4 poultry companies control 54% of the poultry market.
Biden added that, “A free market isn’t totally free without transparency around pricing.”
Clearly the beef and poultry markets are price fixing monopolies.
As are Amazon, Facebook, Google, Twitter, the fossil fuel industry, professional sports, and far too many other industries for the US to fairly be called a “free market economy.”
Turkey is run by the corrupt, autocratic, oligarch Recep Erdogan, which is why there’s so much exploitation in the country.
The US has a Justice Department with an antitrust (antimonopoly) division.
AG Garland should start busting up the many illegal monopolies in this country.