Posts filtered by tags: Late Stage Capitalism[x]


California tenants receive rent-hike threats that will only be rescinded if rent-control initiative fails

Tenants in California have received threatening letters from their landlords promising massive rent hikes if Proposition 10 (previously), which restores rent control, passes. It's part of a national, lavishly financed attack on pro-tenancy measures, which has coincided with the entry of large private equity firms into the rental property market, skyrocketing rents and evictions, and a calamitous decline in the safety and quality of rental housing. In Boston, landlord lobbyists killed a mod...
Tags: Post, News, California, Oregon, Stanford, Wall Street, Boston, New York City, PAC, Piketty, Rent Control, Blackstone, New Republic, California Democratic Party, Equity Residential, Late Stage Capitalism

City of Seattle's official tow partner impounded a homeless woman's stolen car and wanted $21,634 to give it back

Seattle is in the grips of a dire housing emergency (though the city has money to burn when it comes to subsidizing multi-billion-dollar sports teams); Amanda Ogle is one of the many people in Seattle living out of a car, in her case, a 1991 Camry. Ogle's car was stolen, abandoned, and towed by Dick's Towing to an impound lot with a fee owing of $427 (which Ogle couldn't afford); Dick's Towing (sister company to Lincoln Towing, the City of Seattle's official towing partner) gave Ogle the w...
Tags: Post, News, Homelessness, Lincoln, Seattle, Dick, Amanda, Seattle Times, Ogle, Danny Westneat, Eggers, Late Stage Capitalism, Guillotine Watch, Weaponized Shelter, The Rent's Too Damned High, Amanda Ogle

Canada Pension Plan is long on US private prisons and immigrant detention centers

Robbo sez, "As a Canadian in my later years I benefit from my monthly Canada Pension Plan payments. As a Canadian and a human being I am disgusted that CPP holds stock in Geo Group and CoreCivic, companies who operate for-profit prisons and immigrant detention centres. As MP Charlie Angus (NDP) sez: 'Quite frankly, if they’re going to be investing in private prisons, weapons manufacturers and tobacco companies, why aren’t they investing in narco gangs?' They better clean this shit up - and fast...
Tags: Post, Business, News, US, America, Canada, Carceral State, CPP, GEO Group, Canada Pension Plan, Robbo, Profiteering, National Immigrant Justice Center, Late Stage Capitalism, John Howard Society of Canada, CoreCivic

Capitalism torched the world, fascism rose from the ashes

Umair Haque (previously) is in the unfortunate position of being both inarguably correct and horribly depressing when he says "catastrophic climate change is probably inevitable." Capitalism was incapable of dealing with climate change, treating damage to human lives and the planet we share as "unpriced negative externalities" rather than evidence that a system whose tenet was the we would achieve optimal outcomes only if we "exploit and abuse one another, not hold each other close, mortal ...
Tags: Amazon, Asia, Europe, Post, News, Climate, America, Brazil, Muslim, Umair Haque, Late Stage Capitalism, Looters, Early Stage Fascism, Global Trumpism, Philippines Hungary Italy America, Australia Nations

California ballot measure to reintroduce rent control met with millions in opposition from Wall Street landlords

California is one of the hot-zones in the world's urban housing crisis, driven by a combination of opposition to highrise/high-density living and the mass purchase of foreclosed properties following the 2008 crisis by giant Wall Street landlords who have steadily ratcheted up rents and evictions in a big to safeguard the flow of payments to bondholders who get a share of the rents extracted from struggling tenants living in dangerous, substanding housing. California's cities have different ...
Tags: Post, News, California, Los Angeles, Private Equity, Donald Trump, Blackstone, Schwarzman, Stephen Schwarzman, DSA, Late Stage Capitalism, Guillotine Watch, Weaponized Shelter, Starwood Waypoint Homes, The Rent Is Too Damned High, Yesonprop10

Banksy booby-trapped a painting so it self-destructed after Sotheby's sold it for £953,829

Banksy's iconic "Girl With Red Balloon" street art went under the hammer at Sotheby's in a custom frame of the artist's own design; moments after it sold for £953,829, a booby-trap kicked in, drawing the canvas into a series of shredder blades built into the frame, rendering it down to a pile of forlorn strips of shredded cloth. The art speculation market has run white-hot for a decade and more, as inequality floods of dark money has sought highly liquid, tax-invisible assets. As a result,...
Tags: Art, Europe, Post, Business, News, Banksy, Pranks, Sotheby, Late Stage Capitalism, Anny Shaw, Destroy All Rational Thought, Alex Branczik

US governmental requests for comment are routinely flooded by pro-corporate bots

Last year, the FCC was only able to ram through a repeal of Net Neutrality by refusing to reject the millions of comments sent by bots that used the stolen identities of regular internet users, dead people, and even sitting US Members of Congress. It turns out the FCC isn't the only agency being flooded by bots during requests for comment -- and it's also not the only agency that doesn't seem to give a shit about being astroturfed by bots using stolen identities to influence government poli...
Tags: Post, Business, News, Fcc, Congress, US, Foia, Astroturf, Identity Theft, Botwars, Consumer Financial Protection Bureau, Labor Department, Labor Board, CIT Bank, OneWest Bank, CIT

America's cities sue FCC for handing billions in municipal subsidy to wireless carriers

The FCC has ordered American cities to hand discounted access to public resources for 5G access, and to operate a bureaucracy that rubberstamps applications to use city resources without delay. The FCC prices this subsidy at $2 billion. In response, US cities and small towns have announced that they will jointly sue the FCC. The FCC order also forces cities and towns to act on carrier applications within 60 or 90 days, and it limits the kinds of aesthetic requirements cities and towns ca...
Tags: Post, News, Cable Company Fuckery, Fcc, Law, US, America, Seattle, 5g, Holmes, Ajit Pai, Late Stage Capitalism, Privatized Gains Socialized Losses, Durkan, Jon Brodkin Ars Technica

Ontario businesses want trumpy Doug Ford to kill leave for domestic abuse survivors, allow mandatory high heeled shoes

Ontario's "A Plan for Fair Workplaces and Better Jobs" (AKA Bill 148) legislates leave for domestic abuse survivors, provides for 10 days of paid emergency leave, three weeks paid vacation after five years' employment, and a ban on employers requiring their employees to wear high heels. The Retail Council of Canada and the Ontario Chamber of Commerce have joined forces to lobby Ontario premier Doug Ford (previously), a laughable trumplefuck elected on promises to lower the cost of beer to $...
Tags: Post, Gender, News, Toronto, Canada, Ford, Rob, Bill, Ontario, Cbc, Doug Ford, Ontario Chamber of Commerce, Retail Council of Canada, Late Stage Capitalism, Cdnpol, Guillotine Watch

Leaked video reveals Amazon's union-busting playbook

As the tide of public opinion turns against monopolism, Amazon has become the poster child for irredeemable, late-stage capitalism; the company's ham-fisted attempts to burnish its reputation have not stemmed the tide. As a result, union drives among Amazon workers -- including those at Amazon subsidiaries like Whole Foods -- have gained steam. Like other giants -- McDonald's, Walmart, etc -- Amazon is staunchly opposed to unionization by its workforce. In a 45-minute video aimed at Amazo...
Tags: Amazon, Post, News, Labor, Leaks, Gizmodo, Class War, McDonald, Late Stage Capitalism, Threaten Interrogate Promise Spy, Union-busting, Walmart etc Amazon, Bryan Menegus Gizmodo

The world's richest families got MUCH richer, thanks to the stock market

As low interest rates and terrible bond yields have driven more everyday people into the stock market in the hopes of protecting their savings from inflation and building their pensions, the market has surged -- with the richest people on Earth surfing the wave. Bloomberg reports on UBS and Campden's annual survey of the rise of "family offices" created by the new class of super-rich (37% of family offices in the survey were created since 2010), some with as many as five offices dotted arou...
Tags: Asia, Post, Business, News, China, Bloomberg, Earth, Ubs, Piketty, North America, Inequality, Gerald Ford, Late Stage Capitalism, Oligarchy, Guillotine Watch, Bubblenomics

Canada's legal weed stock-bubble is a re-run of the dotcom bubble

Canada and Uruguay are the only two countries to have legalised the recreational use of marijuana (the Netherlands has laws on the books against it, but they're not enforced); the Canadian Securities Exchange has been transformed into "the cannabis stock exchange," a latter-day NASDAQ filled with hyperinflated stocks in legal weed companies. For example, Constellation Brands Inc (Corona and Modelo beer, etc) has invested more than $4 billion in Canopy Growth Co. As the WSJ writes, "the o...
Tags: Post, Business, Usa, News, Weed, Finance, US, Toronto, Canada, Netherlands, Uruguay, Deloitte, War On Drugs, WSJ, Bong Bong, Modelo

Since 2007, debt-haunted grads have been doing public service to earn loan forgiveness, which they won't get

The roster of people carrying student debt is really just "a list of people liable to additional taxation after graduation"; in 2007, GW Bush signed into law the Public Service Loan Forgiveness (PSLF) program that would allow debt-haunted grads to earn loan forgiveness by foregoing the private sector and working for lower wages in public service for a decade. In theory, thousands of people should be having their debts wiped away this year. In reality, less than one percent of the people enr...
Tags: Post, News, Education, Debt, Oklahoma, Class War, Cnbc, Graeber, Student Debt, Bush, Public Service Loan Forgiveness, Public Service Loan Forgiveness PSLF, Allie Conti, Late Stage Capitalism, Guillotine Watch, Strike Debt

Exploring the ruins of a Toys R Us, discovering a trove of sensitive employee data

When the private equity raiders who took over Toys R Us, saddled it up with debt, extracted $200,000,000 and then crashed it, they took the employee severance fund with them, but that wasn't the final indignity the titans of finance inflicted on the workforce before turning them out on the unemployment line. Hackaday's Tom Nardi went on an urban exploration adventure through an abandoned Toys R Us, checking out the fixtures and fittings that remained after its inventory had been sold off an...
Tags: Video, News, Labor, Employment, Canada, Social Security, Private Equity, Class War, Toys R US, NCIX, Late Stage Capitalism, Nardi, Guillotine Watch, Data Smog, Tom Nardi, Tom Nardi Hackaday

Puerto Rico didn't suffer a "natural disaster": it was looted and starved long before the hurricanes

Hurricanes Irma and Maria left Puerto Rico in tatters, but it would be a mistake to blame the weather for Puerto Rico's suffering; Puerto Rico was put in harm's way by corrupt governments doing the work of a corrupt finance sector, then abandoned by FEMA, and is now being left to rot without any real effort to rebuild its public services so that they can be privatized and used to extract rent from the island's residents. As Naomi Klein writes in The Intercept, this wasn't an "Act of God." ...
Tags: Post, Happy Mutants, News, Climate, Fema, Colonialism, Naomi Klein, Maria, Puerto Rico, Irma, La Junta, Late Stage Capitalism, Solarpunk, Disaster Capitalism, Shock Doctrine, No Natural Disasters

Seattle can't afford to fund arts, housing or tourism, but it can find $135 million to repair the Mariners stadium

King County Council was ambushed by a series of surprise amendments to its meeting on Monday that resulted in $135,000,000 being diverted from hotel lodging tax funds earmarked for affordable housing, arts, and tourism boosting, to effect repairs to the Mariners stadium, despite the team being valued at nearly $1.5 billion. (more…)
Tags: Post, News, Washington, Sports, Baseball, Seattle, Mariners, Seattle Mariners, King County Council, Corporate Welfare, Sellout, Late Stage Capitalism

North Carolina Verizon customers, trapped by Hurricane Florence, say they're being throttled and upsold

Redditor AbeFroman21 posted that he and his family are without power or internet due to Hurricane Florence, and that Verizon has throttled their internet access to an unusable trickle, offering to unblock them if they pay for a higher tier of service. (more…)
Tags: Verizon, Post, News, Cable Company Fuckery, Telcoms, North Carolina, Florence, Hurricanes, Late Stage Capitalism, Guillotine Watch, Disaster Capitalism, North Carolina Verizon, Redditor AbeFroman21

Chicago is facing its first citywide hotel strike since 1903

Chicago's tourism sector is booming, with a record 55,000,000 visitors to the city last year, and revenue up this year by 10.4% to $1.45B: but workers aren't seeing those gains. (more…)
Tags: Post, News, Labor, Chicago, Tourism, Strike, Trade unions, Illinois, Hospitality Industry, Unite HERE, Solidarity Forever, Late Stage Capitalism, Chicagohotelstrike, Shut Em Down

20% of New York retail space is sitting vacant

A study conducted by Douglas Elliman Real Estate found that one in five New York retail spaces is sitting vacant; these spaces are boarded up and attract vandalism, drug-dealing, and other unsavory activities. The rate has more than tripled since 2016. (more…)
Tags: Post, New York, News, New York City, Urban Theory, Broken Windows, Douglas Elliman Real Estate, Late Stage Capitalism, Retail Apocalypse, Eschatology Watch, The Rent Is Too Damned High, Too Few Of Our Old Crew Left On Astor, Urban Blight

"Spread Pricing" transparency reveals the millions CVS rakes in by gouging Medicare and prisons on prescription markups

CVS isn't just in the business of operating retail pharmacies: equally important is its prescription administration services, where it buys drugs from independent pharmacies, marks them up, and sells them to government-run programs like Medicare and prisons, using "spread pricing" to determine the markup that it applies to generic drugs. (more…)
Tags: Post, Business, News, Medicare, Pharma, Gouging, Cvs, Profiteering, Late Stage Capitalism, Medicare For All, Unlawful Procurement

US voting machine vendors and officials insist that it's OK to build wireless networking into election systems

I've been fighting with voting machine vendors since Bush v Gore, when companies like Diebold brazenly sought to subvert the Supreme Court's order to standardize a secure design for US voting machines, going so far as to send out thousands of fraudulent copyright notices in a failed attempt to silence whistleblowers who'd reported defects in their systems. (more…)
Tags: Security, Post, Elections, News, Supreme Court, US, Infosec, Gore, Bush, Uspoli, Diebold, Late Stage Capitalism, Verified Voting, Eschatology Watch, 2018 Tsunami

Elizabeth Warren's anti-corruption bill bans foreign lobbyists, subjects domestic lobbyists to strong oversight Newt Gingrich's 1995 Republican Revolution dismantled all the expert departmentsand bureaus that Congress depended on to make sense of the world, making lawmakers dependent on corporate lobbyists to advise them on everything from pollution to food safety to military technology to mass surveillance -- nearly 25 years later, Washington DC is a literal and figurative swamp, and only 18% of Americans say they trust Congress. (more…)
Tags: Video, Corruption, News, Congress, Elizabeth Warren, Democrats, Washington Dc, Newt Gingrich, Late Stage Capitalism, Actually Draining The Swamp, Anti-corruption Act

CEO-to-worker wage gap yawns ever wider, hitting 312:1 in 2017, up by 17.6%

The CEO:worker wage ratio was stable in 2015/6, but some unnameable policy or policies, which we can only guess at, were at work in 2017, boosting the gap by 17.6% to 312:1. (more…)
Tags: Post, News, Gop, Piketty, Class War, Trumpism, 1 Percent, Late Stage Capitalism, Guillotine Watch, Wage Stagnation, Temporarily Embarrassed Millionaires, Taxscam

Billionaire making a bid for Democratic Florida Governor nomination invested millions in Puerto Rican debt

Jeff Greene is a billionaire who made his fortune shorting subprime real-estate while Floridians were facing mass evictions; now he's hoping to be the Democratic candidate for Governor of Florida and his financial disclosures reveal a raft of extremely toxic investments, including millions in Puerto Rican debt (Florida is full of Puerto Rican refugees who had to flee their homes after debt-holders starved the state of infrastructure money so it could neither defend itself against hurricanes, no...
Tags: Post, Florida, News, Democrats, Puerto Rico, Subprime, Jeff Greene, Late Stage Capitalism, Vulture Capitalism, Guillotine Watch, Exxon Hess Kinder Morgan

Elizabeth Warren wants to save capitalism from itself

President Elizabeth Warren (2020-2028) has proposed the , which will subject US corporations with $1B/year or more in revenue to the "German model" of corporate governance, in which workers get board-seats and financial decisionmaking must take into consideration the impact that decisions will have on "stakeholders" including workers, investors, suppliers, retailers, and residents near plants or facilities. (more…)
Tags: Post, News, Elizabeth Warren, US, Inequality, Late Stage Capitalism, Monopolism, 2018 Tsunami, Accountable Capitalism Act, Stakeholders V Shareholders

Majority of young Americans distrust capitalism, embrace socialism

Who likes socialism and mistrust capitalism? Democrats and young people, who are mostly the same people. (more…)
Tags: Post, Business, News, Piketty, America Fuck Yeah, Bernie Sanders, Polls, Late Stage Capitalism, Alexandria Ocasio-Cortez

The EPA's own staff are aghast that Trump is bringing back asbestos

The Trump administration's plan to bring back asbestos is right in line with Trumpist ideology that any science that interferes with profits is a hoax (Trump claims that the asbestos-cancer link is a conspiracy to help the mafia make money on asbestos removal contracts), and the fact that the leading Russian asbestos company (which has ties to Putin) put Trump's face on their packaging is just an extra too-shitty-to-be-true detail for all of us to ponder as we die of mesothelioma in a few year...
Tags: Post, News, Putin, Cancer, Epa, Asbestos, Trumpism, Mesothelioma, Trump, Late Stage Capitalism, Guillotine Watch, Lethal Ideologies

Bad infrastructure means pacemakers can be compromised before they leave the factory

It's been ten years since the first warnings about the security defects in pacemakers, which made them vulnerable to lethal attacks over their wireless links, and since then the news has only gotten worse: one researcher found a way to make wireless pacemaker viruses that spread from patient to patient in cardiac care centers, and the medical device makers responded to all this risk by doubling down on secrecy and the use of proprietary code. (more…)
Tags: Security, Post, Happy Mutants, News, Infosec, Dmca, Apollo, 1201, Black Hat, War On General Purpose Computing, Medtronic, Late Stage Capitalism, Pacemakers, Poc Or Gtfo, Code Signing, Windows Xp In 2018

Florida's prisons change tech providers, wipe out $11.2m worth of music purchased by prisoners

For seven years, Florida state inmates could buy a $100 MP3 player from Access Corrections, the prisons' exclusive provider, and stock it with MP3s that cost $1.70 -- nearly double the going rate in the free world. (more…)
Tags: Post, Copyfight, Florida, News, Race, Drm, Class War, Carceral State, Ripoffs, SECURUS, JPay, Late Stage Capitalism, Adversarial Interoperability, Carceral Capitalism

Young doctors revolt, force AMA to consider backing single-payer healthcare for the first time

Millennial doctors are killing predatory health-care capitalism! (more…)
Tags: Health, Post, Business, News, ACA, Ama, Uspoli, Single Payer, Late Stage Capitalism, Medicare For All, Socialized Medicine, 2018 Tsunami