Never in the field of social conflict have so few distracted so many from so much of the really important things storing up serfdom for ordinary citizens. If “progressive” fascism should last for a thousand years, people will say ‘this was their darkest hour’.
Here are a couple of facts about Amazon’s share values and margins. They don’t make any sense unless you assume criminality on the part of the company.
Amazon has been making suspicious margin losses for some years now, but from the third quarter of 2016 onwards it has seemed as if the company might almost be trying to run the railcar over a cliff.
Amazon’s basic before-costs margin has collapsed by 65% to 4.4% across all goods shipped. Is it the recession that dare not speak its name we ask ourselves, but the answer is an emphatic NO: volumes are doing well. The truly surreal part of this saga is that after costs are taken into account, Big A is losing $1 in 5 on everything it ships.
However, the silliness doesn’t end there. For while what might be a terrorist accountant has been destroying the juggernaut’s profitability, the share price has high-jumped four times to over $1100.
Now OK, we are getting used to insane valuations of tech companies that suggest the analysts need a new compass in the abacus; we’ve even seen Tesla valued at $250,000 a vehicle – or more than General Motors. Equally, we’ve seen the bizarre arrival of negative interest rates, QE that goes on forever, quoted companies borrowing money to pay dividends and a hundred other canards. But this is the only example I can find of a company slashing its margins to loss-leader levels in the context of buoyant volumes and a rocketing share price.
Like the price of gold, the level of the Dow and the Brussels propaganda re Brexit, it just doesn’t make sense.
In the case of gold, bourse overpricing and ticking clocks in Belgium, it’s not hard to discern why the world has gone profoundly counterintuitive since 2008: the combination of survival, greed and desperation is pretty obvious, unless you’re Janet Yellen or Nina Schick.
But the answer to the Amazon riddle is considerably more creepy….and the denial about it terrifying. Because the online colossus is running a coach and four through the Sherman Act. It seems, in fact, to be doing what Newscorp has done in several markets over the years: that is, use deep pockets to destroy any and all competitors.
The Sherman Act was put in place to deter and if necessary prosecute corporate bullies trying to do just that. I’m indebted to Christo in Dublin and this site for making crystal clear what the Act says:
Conspiracy to monopolise can be hard to prove at times: but this case looks straightforward. The long term nature of the wheeze – going back at least to Q1 2013 – and the steady rise in net losses on escalating sales produce a triad of damning evidence against Amazon. Over the last four years, sales have increased by 20%, and net losses have steadily risen (accelerating after 2015) from under 3% to over 18%.
As the markets keep on growing the share price, that suggests strongly they perceive the strategy in play, and are investing in the future monopoly. That the authorities have done nothing at all about it (as yet, although there are rumblings) is par for the course these days. And media support for the company suggests a complicity in that “space” too.
Fortune writes that “there is no anti-trust case against Amazon” (nonsense) and CNBC is equivocal on the subject. Bloomberg looks the other way, the Wall St Journal says consumers “shouldn’t feel guilty” about capitalising on cheap prices, and although The Donald mouthed off about Amazon’s “serious anti-Trust problem” during the Election, only a few Congressmen have even queried whether the company might be in breach of the law.
The inaction is hardly surprising. Amazon spent a record $3.2 million in the second quarter of 2017
bribing lobbying Congress, and their rate of spend on Washington is going up even faster than the rate of losses on orders. Money does indeed make the world go round: it also puts the super-rich above the law.
Exactly the same stitch-up is visible over here: no bankers in jail, ridiculously lenient sentences for Newscorp criminals, Rebekah Brooks back as Murdoch’s CEO, and Rupert himself back in pole position on the BSkyB takeover. G4S continues to get government business despite its history of crooked incompetence, Christine Lagarde wriggles out of a multi-million euro scandal, ECB President Mario Draghi remains accountable to nobody, and while ordinary Greeks get by in abject poverty, the mastermind behind Greece’s Brussels debt fraud, Gary Cohn of Goldman, becomes Trump’s chief economic advisor.
The Rule of egalitarian Law is being eroded and ridiculed by creeping corporate dictatorship – and while the process accelerates with alarming power, the apathy about this rape of civilisation matches it at every turn.
Yet on the Left, the dogged obsession with pc, virtue signalling, minority appeasement and wilful denial has never been more active in distracting attention from the much bigger mess that is going to screw up the lives of the vast majority of ordinary citizens around the world.
I do not lack compassion, but I definitely lack patience with self-styled “activists” incapable of even the most rudimentary grasp of importance hierarchy.
The KKK is irrelevant compared to the threat from Jihadist Islam and the mass migration into Europe now well under way.
Black lives matter no more or less than those of any other ethnicity. Aggressive African males aged 22 are not children. Transgenders wanting rights to use this or that lavatory do not count with me as an important issue. Antifa is a more dangerous development than Donald Trump’s twitter habit, and culturally inspired gang rapes are infinitely more disturbing to me than randy half-pissed old goats touching tits in the Commons bar.
In many ways, ageism is more pernicious than sexism….something never more clearly demonstrated than the disgraceful treament of 1950s-born British women who’ve had their pensions embezzled. They have been chosen because bullies like an easy mark, and those same bullies pissed away government monies while pandering to the bond markets with idiotic austerity programmes.
To me, the identity of corporate and bureaucratic blackguards is a far bigger prority than the identity masturbation of lesbians, cross-dressers, gays demanding Church weddings and ISIS supporters who may or may not be worthy of forgiveness.
I’m sick of minority self-victimisation demanding a 24/7 hearing when huge citizen majorities around the world are being frozen out of national wealth, and ignored by a rapacious élite. We’ll get round to the treatment of lobsters and slaughtered cattle in due course, but in the meantime the potential compromising of Britain’s entire water supply by Texans keen to milk every last cent of their doomed oil business via fracking must come first.
Leftlib activists have nothing to offer against insane neoliberal capitalism beyond a form of so-called correct progressivism dreamed up by delusional cloud-cuckoos, laced with a masive dollop of that other serial failure, collectivist Big State socialism.
Yes, we need radicalism. But we need it because our liberties, justice systems, material wellbeing, education standards and health are being corroded. I’m sorry, but in that context the neurotic attention-seeking of tiny, self-obsessed minorities do not amount to half a hill of beans: this is democracy, and it’s supposed to be a majority-vote system. The main enemies of that civic principle are the equally tiny minorities among the military, globalist, banking, political, media and bureaucratic oligarchies that make up the Mefirst Mob.
Get rid of them, and many other great and good things will follow. Get distracted from that vital goal, and the Black Hats will win.