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The Lucky 1 Percent Get Trump's Speech, CNBC's Devotion—and Nearly All Global Growth


#1

The Lucky 1 Percent Get Trump's Speech, CNBC's Devotion—and Nearly All Global Growth

Janine Jackson

“The World Economic Forum is lucky to have [Donald Trump] addressing them,” says CNBC host Becky Quick.


#2

The article ends with this question:

"Would it really do CNBC’s wealthy, influential viewers a disservice to consider the statement from Oxfam’s Winnie Byanyima that ‘the billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system’”?

The economic system isn’t failing everybody, least of all CNBC’s “wealthy, influential viewers”—just nearly everybody else.


#3

Perhaps the author doesn’t understand that it’s necessary for the ultra-wealthy to vacuum financial gain from the bottom 80% of the world’s population to get even more fabulously wealthy.

That’s sorta the whole point for the uber-rich: Buy politicians, shift capital wherever it’s convenient, asset strip, exploit cheap pools of labor, extract while they still can, place bets on complex financial instruments, get bailed out when the system teeters toward collapse, rinse and repeat.

And CNBC’s job is to report on it, cheerlead for it, and aide and abet it. In fact, I have to give CNBC credit for occasionally featuring guests who discuss inequality.