UPDATE: IBM does blockchain….Cryptocurrencies and blockchain technologies are subject to the same control by the rich and corporations as our existing financial and business sectors. These technologies are embedded in the socio-economic structures of capitalism. Concentrations of power dominate the existing capitalist world and they will dominate these new “disruptive” technology entrants.
The US economy is still the largest in he world and it makes us one of the richest nations on earth. We think of it as the most dynamic, innovative, technologically advanced in the world. The trends of the last decade show that there is much to be concerned about.
New evidence of how big money works has turned up last summer in the WikiLeaks dump of Democratic National Committee emails. Included are an exchange between John Podesta, Co-Chair of the Obama Campaign in 2008 and later Obama’s Councilor and John Froman who was working at Citibank at the time of the emails and has held positions at Treasury and elsewhere.
Anti-Wall St Does Not Mean Anti-Business President Obama’s proposals to break up the “too large to fail” mega banks and otherwise reapply the Glass Steagall Act to the financial sector has predictably brought loud complaints that this is populist and anti-business. Even the rhetoric of the reporters and expert talking heads reflects a general bias…