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EarlG

(22,371 posts)
Sat Jul 20, 2024, 10:52 AM Jul 20

The enshittification of politics

The "enshittification of the Internet" is a phrase to describe what has happened to the Internet over the last twenty years or so. Back in the mid-aughts, "disruptive" companies like Facebook, Netflix, Amazon, etc. released lean, free/low-cost products, which became very popular. During this time, these companies took massive financial losses just so they could grab as much market share as possible. Once they'd sucked in as many users as they could, they had to start making money, and so their services declined in quality while becoming ever-more loaded with ads (even if you're paying for the service) and regular price increases. (Side note: I believe these money-grubbing practices go a long way towards explaining why so many people are down on the economy these days.)

The enshittification of politics is the logical conclusion of Congress's failure to enact campaign finance reform and turbocharged by the radical Supreme Court's Citizen's United decision. With no limit on how much money can be spent on U.S. elections, the sums required to run just get higher and higher -- it's essentially an arms race. Politicians in high-profile races can no longer run a campaign with just small donor contributions. They HAVE to take big donor money, or they might as well not bother.

2008 election cycle (prior to Citizens United)

The 2008 campaign was the costliest in history, with a record-shattering $5.3 billion in spending by candidates, political parties and interest groups on the congressional and presidential races.


2024 election cycle

A new report from AdImpact predicts that the 2023-24 election cycle will be the costliest of all time, with candidates expected to spend cumulatively more than $10 billion in political pitches across various platforms.


This obviously gives big donors a massive amount of leverage over politicians. Politicians cannot compete without their money, so they're forced to take it. Then, if the politician doesn't do what the big donor wants, the big donor simply kills their campaign by withdrawing their money. It's insanely corrupt.

Follow the money and connect the dots...

May 6, 2024: US Crypto Super PACs Have Raised More Than $100 Million, Report Says

Outside political groups tied to the cryptocurrency industry have raised more than $102 million to spend on the upcoming U.S. congressional elections in order to elevate candidates who are friendly to digital assets, according to a report from Public Citizen.

Only two other political groups, or super PACs, have raised more money than the crypto sector this election cycle, Public Citizen said. The money raised by crypto-backed super PACs shows how crypto companies are hoping to influence policies in their favor as the industry is facing increased scrutiny from regulators such as the Securities and Exchange Commission, as well as lawmakers.


May 26, 2024: As crypto cash floods Washington, Congress eyes gentler regulations

Cryptocurrency companies and investors have spent at least $149 million over the past four years to thwart tough regulation, elect new allies to Congress and defeat lawmakers seen as potential threats, a campaign that culminated this week with a House vote to soften federal oversight of the embattled industry.


June 29, 2024: Binance must face bulk of US SEC crypto lawsuit, judge rules

A federal judge ruled late Friday that the majority of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance, the world's largest cryptocurrency exchange, can proceed.

The decision by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia deals a blow to Binance, which had asked the court to toss the SEC's lawsuit that alleges Binance and its founder and former CEO Changpeng Zhao broke securities laws.


July 2, 2024: IRS Issues Crypto Broker Regulations

The US Internal Revenue Service (IRS) has issued its final draft of rules for crypto brokers to report income, offering clarifications on the scope of industry participants required to follow the regulations. ... IRS commissioner Danny Werfel stated, “We reviewed thousands of public comments and believe this new guidance addresses those concerns while striking a balance between industry implementation challenges and closing the tax gap related to digital assets.”

(snip)

Werfel also mentioned how the new rules will ensure high net worth individuals (HNIs) do not evade taxes using cryptocurrencies and other digital assets.


July 12, 2024: Cryptocurrency is One of The Most Overlooked Threats Against our Democracy

Tech and finance titans in Silicon Valley and on Wall Street are building an ever-larger war chest with the same goal Bankman-Fried had: to create a Congress that turns a blind eye to their shady practices – including rampant money laundering, vanishing investor money, and weaponized dark money – that do harm to the American public and our democracy.

They’ve announced that they will spend significant money in the Montana, Ohio, Michigan, and Maryland Senate races—crucial states that will decide who controls Congress.


July 12, 2024: Democratic Party strangling itself': Rage at donors 'bribing politicians' to oust Biden

"....Never-Trumpers were rattled Thursday amid a report that a group of Democratic donors pledged millions to lawmakers who've defected or criticized President Joe Biden. A group of 30 donors in New York — including crypto billionaire Mike Novogratz, Hollywood filmmaker Andrew Jarecki, and donor and operative Gideon Stein — have pledged $2 million to a House Democrat Super PAC to support Democrats who criticized Biden, Jake Sherman reported for Punchbowl News...."


July 13, 2024: Wanna-be oligarchs. Silicon Valley and Crypto bros are major players in this election.

Under the average voter radar is extreme influence peddling, lobbying of of the Silicon Valley and Crypto bros, one of which is Rep. Jim Himes, who told Biden to step down.

Citizens need to keep an eye on this!

They are part of the big money donors trying to turn Dems away from Biden in order to get Crypto deregulated. If they succeed, the consequences are completely unpredictable. They stand to take over banking, and replace the dollar as an international currency. Could also usher in collapse of currencies, and a wave of untraceable financial crime.


July 18, 2024: Some threads: Polling and the Crypto boys

The polling that is freaking out Nancy and Adam, is being conducted by BlueLabs Analytics https://bluelabs.com

- BlueLabs received funding from Sequoia Capital, a Silicon Valley venture tech firm that funds crypto start-ups. https://www.opensecrets.org/campaign-expenditures/vendor?vendor=BlueLabs+Analytics

(snip)

(Rep. Jim) Himes was the first to start the un-nominate Biden ball rolling. He is a former Goldman Sachs banker, and advocate for the US central bank to adopt digital currency.


July 18, 2024: Trump Requests $844,600 for Fundraiser Seat at Bitcoin Conference

Donald Trump is inviting supporters in the cryptocurrency industry to a private fund-raising effort in Nashville on July 27, including an asking price of $844,600 for a seat at a round table.

(snip)

Attendance will be limited to 100 to 150 donors, who “will enjoy drinks and hors d’oeuvres while mingling with influential guests,” according to the email. Following the reception, guests will get front-row seats to watch Trump deliver a speech on Bitcoin, the message added.


July 18, 2024: The Silicon Valley realignment leading tech titans to Trump

A wave of Silicon Valley leaders has publicly lined up behind Donald Trump since Saturday’s assassination attempt — including some who had previously denounced the former president or supported his rivals — cementing a political shift in the tech world years in the making. ... In recent months, many tech elites quietly latched on to Trump, the perceived front-runner, drawn by Trump’s promises of industry-friendly policies on cryptocurrency and artificial intelligence and driven away from President Biden by scrutiny of the sector they see as kneecapping innovation.


July 19, 2024: Tech/Crypto Bros bought Nate Silver "pollster"

Nate Silver was hired by Polymarket recently, Polymarket is funded by Peter Thiel and other billionaires. Vance is also a product of Peter Thiel, who has been grooming him for the takeover of the GOP.


July 19, 2024: Fmr Rep Sean Patrick Maloney former chr of DCCC is now a big cryto bro & may be behind today's anti-Biden text messages

Sean Patrick Maloney, an adviser to Coinbase, is nominated as the U.S. representative to the OECD, which is building regulatory frameworks for crypto.

(snip)

On the same day that Biden publicly announced Maloney’s nomination last May, cryptocurrency trading platform Coinbase announced their appointment of Maloney to their five-person “Global Advisory Council.” Less than a month later, the Securities and Exchange Commission charged Coinbase with operating as an unregistered securities exchange


In other words, it's not Biden's age that these big donors have a problem with, it's his policies (increase taxes on the rich, regulate cryptocurrencies). They want him out, and replaced with someone more friendly to their interests.

I think this is as good an explanation as any for why some highly experienced Democratic politicians are suddenly acting as if they know nothing whatsoever about politics. The strategic buffoonery of trying to toss out your incumbent president through a month-long campaign of leaks to the media and "death by a thousand cuts" announcements makes a lot more sense if you consider that these Democrats are under serious behind-the-scenes pressure to do this, or their campaigns are essentially over.

We keep hearing stories about how Democrats are worried that if Biden stays in, we'll lose control of the House, or the Senate. We've been led to believe that Democrats are concerned about Biden being a drag on down-ticket races. But what if it's even more straightforward than that? What if the real reason for their concern is that if they don't follow the orders of the billionaires, the billionaires will simply pull their funding and leave our candidates high and dry?

If only we had a non-complicit media who might be interested in investigating this further. But of course, they're part of the problem. The people who run media companies ALSO make massive campaign contributions to politicians. Not only that, but they benefit from these insanely huge sums of money flowing through our political system in the form of ad dollars, which are a major windfall for media companies. It is in their interest to not only keep this system alive, but to milk it for as much as they can. There's a reason why political campaigns in this country are now multi-year, 365 days a year, 24/7 activities.

It sure seems like there is some major extortion going on here behind the scenes.
167 replies = new reply since forum marked as read
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The enshittification of politics (Original Post) EarlG Jul 20 OP
Wow! 1000 K&RS Doc Sportello Jul 20 #1
This is one of the Very Best Posts on DU, ever. Bookmarked forever. flying_wahini Jul 20 #2
Certainly :) EarlG Jul 20 #3
here is a list of thestrongly supportive pro crypto Dems in the Senate and the House (per a crypto advocacy group) Celerity Jul 21 #128
Jesus, that is depressing karin_sj Jul 21 #132
Kyrsten Sinema will be gone but Ruben G. is running for her spot in the Senate and ChazII Jul 21 #138
I sent copy of the link to the WH and I hope others will send too Bev54 Jul 20 #97
It most certainly is. n/t OneGrassRoot Jul 21 #137
Thanks for putting this up Earl Bettie Jul 20 #4
Excellent work, and vitally important to understand what the hell is going on. msfiddlestix Jul 20 #5
This is valuable. Share widely, everyone ms liberty Jul 20 #6
good, thorough reminder. bigtree Jul 20 #7
Critically important! I am so appreciative of your time and effort putting this together, please k&r Ninga Jul 20 #8
George Carlin was right. It's a club we ain't in it. dobleremolque Jul 20 #9
Thank you. This makes sense of all the nonsense about Biden's age. Biophilic Jul 20 #10
Ahhh... For once the fresh isn't a Hell! Hugin Jul 20 #11
Who knows nowadays what is going on? But, it seems to me -- and I have not researched this -- that these donors were Silent Type Jul 20 #12
We simply do not know. After reading this OP, I believe that in drivers of the anti Biden movement Ninga Jul 20 #17
But, they were contributing and pledging right up until June 27th. Biden's contribution totals were great. Silent Type Jul 20 #21
Not even close Doc Sportello Jul 20 #29
The first article is about GOPer Billionaires helping trump. They were never going to help Biden. Silent Type Jul 20 #40
No the articles are about them moving to dump Doc Sportello Jul 20 #105
Looked again. Do not see the name of even one donor who was considered a big Democratic donor. The article Silent Type Jul 20 #106
Yes it is Doc Sportello Jul 20 #107
Give me just one name mentioned in the article of a Democratic donor that is switching to trump. Just one name. Silent Type Jul 20 #108
This message was self-deleted by its author wnylib Jul 21 #154
This message was self-deleted by its author wnylib Jul 21 #151
I would like more exploration of this Kali Jul 20 #27
I think the plan was to use the debate to bring Biden down all along. Demsrule86 Jul 20 #95
I think the debate was a trigger, for sure EarlG Jul 20 #42
The SOU was to be an inflection point for the nullifiers. Biden ruined that. Sneederbunk Jul 20 #51
I think an opportunistic infection is being mistaken for the disease Sympthsical Jul 20 #54
It was never about how Biden performed at the debate Lifeafter70 Jul 20 #67
So, if donors are supporting VP Harris or any other top Democrat, do they expect policies to change? Silent Type Jul 20 #70
The problem is the donors who started this call to step down Lifeafter70 Jul 20 #76
I have not heard any of these donors say they would not support Harris or some other top Democrat. Of course, I don't Silent Type Jul 20 #78
So why are they suggesting a mini primary? Lifeafter70 Jul 20 #88
I think the donors are solid Democrats as they were in 2008, 2012, 2016, 2020, and mid-term elections. Silent Type Jul 20 #90
Did you read EarlG's op? Lifeafter70 Jul 20 #94
Blocking orangecrush Jul 21 #122
They won't support Harris and likely believe she will lose...they want Trump and his yummy taxcuts. Demsrule86 Jul 20 #98
Oh sure, Democratic donors in 2008, 2012, 2016, 2020, up to June 2024, and mid-terms want trump. Silent Type Jul 20 #102
Most of that cash ends up in the hands of corporate media, including social media platforms. dawg Jul 20 #13
Thanks for this long and thoughtful post. usonian Jul 20 #14
KNR and bookmarking. niyad Jul 20 #15
100% pandr32 Jul 20 #16
Thanks for posting this! highplainsdem Jul 20 #18
Europe still seems okay. moondust Jul 20 #19
In the UK they have laws to prevent this EarlG Jul 20 #46
Nobody in Europe would accept our bonkers two year long election cycles Prairie Gates Jul 21 #143
"on the media" a few weeks ago. pansypoo53219 Jul 20 #20
Rec a million billion times! Wild blueberry Jul 20 #22
Thx for posting! PortTack Jul 20 #23
I've been saying this for a while. But I'm just a little woman so few people take me seriously. littlemissmartypants Jul 20 #24
I as well Lifeafter70 Jul 20 #84
Anyone who thinks that they wouldn't torpedo her just as fast if not faster is ill informed. ❤️ littlemissmartypants Jul 20 #85
K and R BonnieJW Jul 20 #25
Spot on... orwell Jul 20 #26
"enshittification" BumRushDaShow Jul 20 #28
Actually... littlemissmartypants Jul 20 #43
But as a description for what is going on now BumRushDaShow Jul 20 #47
The concepts are not mutually exclusive. In fact the similarities are remarkable. littlemissmartypants Jul 20 #68
"He has taken a know word and expanded its definition." BumRushDaShow Jul 20 #72
Snort! OMGosh!! I needed a laugh! littlemissmartypants Jul 20 #79
Indeed, I can't claim to have coined this word :) EarlG Jul 20 #48
I know...it wasn't meaning that was mentioned. The word itself was though. littlemissmartypants Jul 20 #63
But using it for this situation BumRushDaShow Jul 20 #73
Absolutely! ❤️ littlemissmartypants Jul 20 #83
Was about to cite Doctorow, but your link is better. And... 4dog Jul 20 #49
Thanks! ❤️ littlemissmartypants Jul 20 #82
It's a perfectly cromulent word. Qutzupalotl Jul 20 #59
It fits perfectly! BumRushDaShow Jul 20 #74
Appreciate the compilation. I have followed this, may have even posted some of those. BootinUp Jul 20 #30
Very well done Mr. Earl G. Botany Jul 20 #31
Wasn't that long ago they said "It takes $1B to run a successful campaign" WarGamer Jul 20 #32
Not only "extortion," but massive lobbying "investment" for whatever weakens a government they can then CAPTURE. ancianita Jul 20 #33
Many tech bros claim to be Libertarian, too. Possibly the majority. nt littlemissmartypants Jul 20 #44
Right. I'm aware. The through line of their ideologies is privatization and govt capture by tech bro power. ancianita Jul 20 #64
Tech bros...giving tech and bros a bad name since... littlemissmartypants Jul 20 #80
Outstanding post - thank you! Pinback Jul 20 #34
Are you saying that, except for the guy at the top and... LudwigPastorius Jul 20 #35
You may be able to answer your own question if you go back and re-read the entire rationale. Ninga Jul 20 #39
I seriously doubt that any elected Democrat WANTS to be in this position EarlG Jul 20 #57
I agree- and I'll be watching to see if some of the more shocking Dem "Roll in the hay with the big donors" come back NBachers Jul 20 #75
Amazing thread. TYVM! bluestarone Jul 20 #36
Crypto's main utility seems to be facilitating crime (nt) 4dog Jul 20 #53
THIS is all we should be talking about. What to do about it, and sharing it far and wide. Nt Ninga Jul 20 #37
Masterful analysis 👏🏼 benfranklin1776 Jul 20 #38
A lot of dots to connect. joanbarnes Jul 20 #41
This needs to be shared far and wide. liberalmuse Jul 20 #45
Excellent post. Think. Again. Jul 20 #50
Exactly, precisley on target. NewHendoLib Jul 20 #52
It's imperative we go to public funded elections KS Toronado Jul 20 #55
As the saying goes, don't hate the player, hate the game. SouthBayDem Jul 20 #56
K&R ck4829 Jul 20 #58
Absolutely, incredibly, Awesome EarlG DENVERPOPS Jul 20 #60
We're in a position where arrogant idiots and tech bros control our Democracy. It's fucked. Oneironaut Jul 20 #61
Follow the Money Grolph_ Jul 20 #62
The Supremes said it was okay because they want their piece of the pie Yo_Mama_Been_Loggin Jul 21 #127
100% ibegurpard Jul 20 #65
Republicans have been feeding oligarchs, and obstructing anything that would regulate them, for decades. Hermit-The-Prog Jul 20 #66
Yeah. I am trying to control my disgust with this situation ismnotwasm Jul 20 #69
K & R Native Jul 20 #71
Pin this post. Duncan Grant Jul 20 #77
I agree ibegurpard Jul 20 #81
Earl, maybe you should consider writing this as an op-ed drray23 Jul 20 #86
Many, many thanks. chia Jul 20 #87
Kick asm128 Jul 20 #89
I hope you do not mind, I sent a link to this to the WH Bev54 Jul 20 #91
Still kicking! Ninga Jul 20 #92
Thanks. This is important information. Money is at the root of the Biden meltdown by the media, and some politicians Demsrule86 Jul 20 #93
WOW! mamacita75 Jul 20 #96
Very well said! Thank you! misanthrope Jul 20 #99
Thank you for putting it all here! LeftInTX Jul 20 #100
ATTN: You are just one post away from 22222 GreenWave Jul 20 #101
Corruption is just a matter of your price. aocommunalpunch Jul 20 #103
With all due respect... OldBaldy1701E Jul 20 #104
Yep. This is why I call billionaires parasites and Wall Street people greed lizards. And this whole campaign thing is PatrickforB Jul 20 #109
This. The true threat to Democracy is the broligarchs. n/t TygrBright Jul 20 #110
Buying the election bromeando Jul 20 #111
This should be on the front page of the NYTs, .. Botany Jul 20 #112
Can you clairfy? Yorkie Mom Jul 20 #113
All I know about Biden's health is that EarlG Jul 20 #115
Thank you for your response. Yorkie Mom Jul 20 #116
Great post DemonGoddess Jul 20 #114
Bob Cesca raised some of these same points the other day on his podcast. yellowdogintexas Jul 20 #117
This explains so much. summer_in_TX Jul 21 #118
It's got to be frustrating for you orangecrush Jul 21 #119
No doubt criptobros are at play. So is a superficial applegrove Jul 21 #120
It's a win/win for the Oligarchs. S/V Loner Jul 21 #121
Time to undo the robber barons Blue Full Moon Jul 21 #123
Bookmarking for Mr Peacetrain.. so well laid out Peacetrain Jul 21 #124
Great work SocialDemocrat61 Jul 21 #125
Crypto currency is just another form of money laundering Yo_Mama_Been_Loggin Jul 21 #126
So this is what Mark Cuban was referring to in his X post about Thiel's and Musk's plan to give millions to Trump. Pepsidog Jul 21 #129
Seth Moulton (D-MA) was on New Yorker Radio yesterday nuxvomica Jul 21 #130
+1... myohmy2 Jul 21 #131
Thank you so much! Linda ladeewolf Jul 21 #133
K&R spanone Jul 21 #134
krb Baltimike Jul 21 #135
K & R Bookmarking FakeNoose Jul 21 #136
Data doesn't die... ultralite001 Jul 21 #139
This is a World Championship post, EarlG! dchill Jul 21 #140
Thank you so much for this wonderful post! Erda Jul 21 #141
Well done, you! I wish this could be published obamanut2012 Jul 21 #142
Cryptopolitics. K&R Maeve Jul 21 #144
Most of the dynamics you bring up, were already baked in. DontBelieveEastisEas Jul 21 #145
I'm in no way suggesting that Democrats want to lose EarlG Jul 21 #153
I did not misunderstand you to be saying Dems want Biden to lose. I just pointed out that some Donors also do not. DontBelieveEastisEas Jul 21 #160
PLEASE pin this OP to the top of the General Discussion page. Talitha Jul 21 #146
Absolutely JohnSJ Jul 21 #147
So, I guess we're not the envy of the world? Marcus IM Jul 21 #148
Amazingly stated, but what happened in the 2018 mid-terms? Justice matters. Jul 21 #149
Thank you for posting this LetMyPeopleVote Jul 21 #150
kick! G_j Jul 21 #152
Swift kick Warpy Jul 21 #155
Fuck the crypto bros! Initech Jul 21 #156
Stellar OP! Spazito Jul 21 #157
K & R BadgerMom Jul 21 #158
and now what Kali Jul 21 #159
Well :) EarlG Jul 21 #162
yeah Kali Jul 21 #163
Closes the loops......and with receipts no less. jaxexpat Jul 21 #161
Truth ... Godot51 Jul 21 #164
Kick this truth! LiberalLovinLug Jul 22 #165
KnR Hekate Jul 22 #166
Bookmarking liberalla Jul 23 #167

Doc Sportello

(7,879 posts)
1. Wow! 1000 K&RS
Sat Jul 20, 2024, 11:01 AM
Jul 20

Damning expose that lays out the case perfectly. I hope this gets spread far and wide.

Edit to add: this is who/what Biden needs to run against. Tech bros vulture capitalism, including the repubs VP choice and his horrible history as the prime target.

Don't quit, Joe. Your country needs you!

flying_wahini

(7,637 posts)
2. This is one of the Very Best Posts on DU, ever. Bookmarked forever.
Sat Jul 20, 2024, 11:02 AM
Jul 20

Thanks Earl. You have outdone yourself.

Can I PLEASE share?

EarlG

(22,371 posts)
3. Certainly :)
Sat Jul 20, 2024, 11:04 AM
Jul 20

There's a "Share" button on the OP specifically for this purpose -- or share it however you like, of course.

karin_sj

(1,027 posts)
132. Jesus, that is depressing
Sun Jul 21, 2024, 09:57 AM
Jul 21

That's a lot of people. Makes me wonder if Biden had kept quiet about cryptocurrency, taxing the rich, and his plans to reform the Supreme Court, if we might be in a different place today. I think that those three campaign promises have made some powerful people very uncomfortable. I can't believe how many democrats are on that list. Are any of them who are NOT pushing for Biden to step down not on that list? Notice that Bernie's not on there, nor Elizabeth Warren, nor AOC... Really disheartening to see some of my favorites on that list.

ChazII

(6,277 posts)
138. Kyrsten Sinema will be gone but Ruben G. is running for her spot in the Senate and
Sun Jul 21, 2024, 10:32 AM
Jul 21

he is listed as 'Strongly supportive'.

Bev54

(11,282 posts)
97. I sent copy of the link to the WH and I hope others will send too
Sat Jul 20, 2024, 02:52 PM
Jul 20

To Pres Biden and First Lady, VP Harris and Biden campaign. I explained a bit about the group and said they can research the group before opening the link but it needs to be read. I hope more people will do so. I added the Sean Patrick Maloney connection as well.

Please have others do the same, President Biden and his allies need to read this.

Bettie

(16,723 posts)
4. Thanks for putting this up Earl
Sat Jul 20, 2024, 11:06 AM
Jul 20

They are trying to buy our government.

They don't want Biden because he can't be bought.

Too bad a minority of our congresspersons can be.

msfiddlestix

(7,566 posts)
5. Excellent work, and vitally important to understand what the hell is going on.
Sat Jul 20, 2024, 11:09 AM
Jul 20

Thank you so much for this carefully laid out background.
I feel like this needs to be required reading for the current times we're in.
If I could, I'd pin it !


Ninga

(8,480 posts)
8. Critically important! I am so appreciative of your time and effort putting this together, please k&r
Sat Jul 20, 2024, 11:18 AM
Jul 20

All of us need to forward this as widely as possible.

dobleremolque

(816 posts)
9. George Carlin was right. It's a club we ain't in it.
Sat Jul 20, 2024, 11:18 AM
Jul 20
?si=3HWcouCsmenX0144&t

And remember, Carlin's observations were more than 10 years ago.

So what can we DO about it? What action can we take as individuals and voters who are not billionaires? I'm working on Democratic GOTV projects, but I feel like I'm trying to bail out a sinking boat with a teaspoon. It's really really hard not to despair.

Biophilic

(4,352 posts)
10. Thank you. This makes sense of all the nonsense about Biden's age.
Sat Jul 20, 2024, 11:35 AM
Jul 20

How scary this all is. I honestly don’t want to be part of when America loses its democracy.

Silent Type

(5,315 posts)
12. Who knows nowadays what is going on? But, it seems to me -- and I have not researched this -- that these donors were
Sat Jul 20, 2024, 11:39 AM
Jul 20

fine with Biden until the debate. At that point things changed.

With that said, definitely don't like the idea of big donors having this much influence on a presidential -- or any other -- election. Hope some day, we can get the big money out of politics along with criminals and vile candidates like trump.

Ninga

(8,480 posts)
17. We simply do not know. After reading this OP, I believe that in drivers of the anti Biden movement
Sat Jul 20, 2024, 12:02 PM
Jul 20

we’re indeed the Cryptocurrency Billionaires, who were ready to pull current polling out of their back pockets and Biden’s poor debate made it easier. The work put into this explanation is verified via the timeline, names, and links. I have no doubt Earl is spot on, hit the true target. .

Silent Type

(5,315 posts)
21. But, they were contributing and pledging right up until June 27th. Biden's contribution totals were great.
Sat Jul 20, 2024, 12:16 PM
Jul 20

Doc Sportello

(7,879 posts)
29. Not even close
Sat Jul 20, 2024, 12:41 PM
Jul 20

I will counteract your unsubstantiated claim with facts:
snip
"Billionaires from coast to coast are putting their influence and money behind Donald Trump, a wave of support that is helping the former president narrow his fundraising gap with President Joe Biden and seize new momentum in his race for the White House.
Some have already donated millions to his campaign, some have announced plans to do so, and some are only saying for now that they will vote for him.Trump, meanwhile, is returning the favor. He is reportedly promising to make policy changes that would help their businesses and perhaps even rely on them as advisers if he returns to the White House. The Wall Street Journal reported Wednesday that Trump and Tesla (TSLA) CEO Elon Musk have discussed a formal advisory role for the billionaire if Trump should win.

https://finance.yahoo.com/news/prominent-billionaires-from-wall-street-to-silicon-valley-are-warming-up-to-donald-trump-080018971.html

***
Paywall but here's the headline which explains it - and it was written BEFORE the debate:
Trump Outraises Biden in May as Billionaires Cut Big Checks
https://www.bloomberg.com/news/articles/2024-06-21/trump-outraises-biden-in-may-as-billionaires-start-giving-big?embedded-checkout=true

***
Sorry, you're going to have to make up something else to defend the tech bros trying to take over our government.

Silent Type

(5,315 posts)
40. The first article is about GOPer Billionaires helping trump. They were never going to help Biden.
Sat Jul 20, 2024, 01:04 PM
Jul 20

We are talking about Democratic donors. I still believe Biden was doing relatively well up until debate.

Doc Sportello

(7,879 posts)
105. No the articles are about them moving to dump
Sat Jul 20, 2024, 03:38 PM
Jul 20

So wrong again. Not even a good try. Your premise was wrong and is still wrong.

Silent Type

(5,315 posts)
106. Looked again. Do not see the name of even one donor who was considered a big Democratic donor. The article
Sat Jul 20, 2024, 03:44 PM
Jul 20

is about Republicans opening up their wallets for trump. Not a big surprise.

The article is not about former Democratic donors switching to trump.

Silent Type

(5,315 posts)
108. Give me just one name mentioned in the article of a Democratic donor that is switching to trump. Just one name.
Sat Jul 20, 2024, 04:09 PM
Jul 20

Response to Silent Type (Reply #108)

Response to Silent Type (Reply #21)

EarlG

(22,371 posts)
42. I think the debate was a trigger, for sure
Sat Jul 20, 2024, 01:16 PM
Jul 20

But I think the reason that this just seems so weird to everyone right now is that the political fallout from the bad debate could have been easily overcome if the entire party had worked in unison to counteract it. And instead, we're still doing this shit, almost a month later.

First, Biden had a bad performance at the debate. Like, really bad. That's fair. There were already questions about his age, and there were definitely rumblings of concern among both the party and voters following the debate.

But he was then asked to perform a series of tests -- do an interview, now do a press conference, now get out on the campaign trail and talk to voters, now do another interview, now do another press conference, now speak to the nation about how Trump almost got assassinated. And he did all that, and quite effectively, while maintaining the entire time that he was not going to drop out.

But instead of the calls for him to drop out getting quieter, they got louder. Every day that Biden has been out there proving that the debate was an anomaly and he is in fact up to the job, there's been a steady drip-drip-drip of Democratic politicians coming out and saying he should drop out. It's been almost a month since the debate, and they're still playing this game. Even while polls are showing that Biden is still most certainly in the race, and may even be improving his position.

From a political point of view, it makes no sense. Why try to take down your own candidate -- and keep trying to take him down -- when he is clearly stating that he's not going anywhere? But from a financial standpoint, it makes all the sense in the world. If you have big donors calling you and telling you that if you don't ditch Biden, the money spigot is getting turned off, that is not just an incentive, but an imperative. You HAVE to listen, or you're screwed.

I think it's why some of the Democrats, like Sherrod Brown, have put out statements that sound almost like hostage videos:

"Over the last few weeks, I’ve heard from Ohioans on important issues, such as how to continue to grow jobs in our state, give law enforcement the resources to crack down on fentanyl, protect Social Security and Medicare from cuts, and prevent the ongoing efforts to impose a national abortion ban. These are the issues Ohioans care about and it is my job to keep fighting for them.

I agree with the many Ohioans who have reached out to me. At this critical time, our full attention must return to these important issues. I think the President should end his campaign."

Brown knows that just by releasing this statement, he's adding to the pressure on Biden. But he doesn't say anything at all about Biden's fitness or ability to serve -- it's like he's trying to tell Biden to drop out in the weakest way possible. Almost as if he needs to placate someone important, but he's not very happy about it...

Sneederbunk

(14,850 posts)
51. The SOU was to be an inflection point for the nullifiers. Biden ruined that.
Sat Jul 20, 2024, 01:31 PM
Jul 20

Nullifiers had to wait until debate, which was their hook. However, Biden rebounded and performed well. Nullifiers are incongruous.

Sympthsical

(9,832 posts)
54. I think an opportunistic infection is being mistaken for the disease
Sat Jul 20, 2024, 01:37 PM
Jul 20

And sometimes, when you can't treat the disease, you focus on what you can treat.

We're having palliative discussions almost. It's interesting to observe at least.

Lifeafter70

(309 posts)
67. It was never about how Biden performed at the debate
Sat Jul 20, 2024, 01:57 PM
Jul 20

It is what he said in regards to his platform and policies. His performance gave them the excuse to start the narrative they needed to further their goal. That goal is a candidate who is corporate friendly. To hell with the working class, we should be grateful for whatever crumbs the toss our way.

Silent Type

(5,315 posts)
70. So, if donors are supporting VP Harris or any other top Democrat, do they expect policies to change?
Sat Jul 20, 2024, 02:04 PM
Jul 20

I don't and doubt they are either.

Lifeafter70

(309 posts)
76. The problem is the donors who started this call to step down
Sat Jul 20, 2024, 02:16 PM
Jul 20

Do not support her. This has been made clear with the talk of a " mini primary" if it was not about policy and all about his age that would not have been suggested. It's about his policies.

Silent Type

(5,315 posts)
78. I have not heard any of these donors say they would not support Harris or some other top Democrat. Of course, I don't
Sat Jul 20, 2024, 02:20 PM
Jul 20

know any of them, but it doesn't sound like they are saying they are no longer supporting Democrats.

Lifeafter70

(309 posts)
88. So why are they suggesting a mini primary?
Sat Jul 20, 2024, 02:41 PM
Jul 20

That's not a full throated support for Harris. It is certainly not in support of Biden's agenda. I'm of the age when they taught critical thinking in highschool. Lived long enough to know a bait and switch when I see one.

Lifeafter70

(309 posts)
94. Did you read EarlG's op?
Sat Jul 20, 2024, 02:50 PM
Jul 20

The donors you are referring to are not who he is taking about. So I'm done talking in circles with you.

Demsrule86

(70,542 posts)
98. They won't support Harris and likely believe she will lose...they want Trump and his yummy taxcuts.
Sat Jul 20, 2024, 02:58 PM
Jul 20

Biden on the other hand is likely to beat Trump. I know with media hysteria, it may seem otherwise but that's it. CNN had a short post today about how voters who just don't understand were still supporting Biden and he would not leave the race. How dare we ruin their plans .

Also, I will kick this. There is a plan to boycott big news starting tomorrow for a week. I am going to do it. Let's show these arrogant bastards what people can do. Spread the word and show them that they need us to watch their crappy shows and we will not be lied to or manipulated.

dawg

(10,687 posts)
13. Most of that cash ends up in the hands of corporate media, including social media platforms.
Sat Jul 20, 2024, 11:41 AM
Jul 20

The money gives wealthy donors leverage over candidates, but it also gives candidates leverage over the media.

Not many for-profit companies are willing to risk losing half of that money pile by telling a few inconvenient truths. Hence the "bothsidersism" and "normalization".

The love of money is the root of all evil.

usonian

(12,092 posts)
14. Thanks for this long and thoughtful post.
Sat Jul 20, 2024, 11:51 AM
Jul 20

A bit more:
https://democraticunderground.com/100219185477

Schumpeter at the economist.
Tech bros love J.D. Vance. Many CEOs are scared stiff

Both men are driven by grievances. Both are highly unpredictable. Yet for all the Ohioan’s twists and turns, his antipathy towards big business and his desire to break up big tech appear to run deep. That may make him harder to deal with than the transactional Mr Trump.

• Their first gripe is over cryptocurrencies and the blockchain. (Regulation)
• Next come concerns about Mr Biden’s efforts to regulate artificial intelligence (ai). ... They say the order provides an unfair advantage to tech giants, which have vastly more resources to deal with red tape. (Both sides of the aisle have expressed concern)
• The third, and most immediate, concern is Mr Biden’s latest budget proposal, which includes a 25% tax on unrealised capital gains for those with over $100m of wealth. (Proposal)

Although bosses may like the sound of tax cuts and deregulation, they fear further descent into protectionism and political chaos. There are Mr Trump’s tariff threats, echoed by Mr Vance, that risk inflaming trade wars, and the spectre of mass deportation of immigrants, which may exacerbate labour shortages. There is economic populism: “We’re done…catering to Wall Street,” Mr Vance thundered.



https://archive.ph/Tyofv or

https://www.economist.com/business/2024/07/17/tech-bros-love-jd-vance-many-ceos-are-scared-stiff

Tech Bro's have completely taken over the GOP.
Don't let it happen here!

--------------

This was from a reply someone made at Hacker News.
The OP merely linked to the article at The Economist, and was flagged to oblivion in the VC-friendly forum.


I hope with all my heart that Joe and Kamala triumph over this "Chicken Coup" attempt.
Worst case, Joe might want to back off (for now) from the capital gains tax proposal, which seems to have the billioniaire class in a gunpowder plot. OR NOT.

To them I say:
OFF WITH THEIR HOODS!

The "ELEPHANT" in the room is that the conspirators, and the "billion dollar computer model" that said Joe would lose to this despicable piece of shit.




APPARENTLY DIDN'T COME UP WITH AN ALTERNATIVE.

Oops, replace the leader with ABSOLUTELY NOBODY.
It's like shooting your horse and trying to win the race with a goat.

The value of data and projections is NOT the money you paid for them.
It's their predictive value, which you know the day after the election.
These are the only recognizable names I could imagine who have not committed 100% to Biden and Harris

Joe Manchin?
Stella Artois?
Mark Cuban?
LeBron James? ( oops, busy)
Merrick Garland?
Abigail Disney?
Michael Bloomberg?
Arnold Schwarzenegger?

And Kindly note that the support from Bernie Sanders and AOC AND Elizabeth Warren tells me
That this is right wing fuckery.

Do I want some unknown nominee?






Here's a fact:

When it comes to beating Trump ...




THAN BIDEN




And here's how to pass the torch.
WHERE THE SUN DON'T SHINE


moondust

(20,282 posts)
19. Europe still seems okay.
Sat Jul 20, 2024, 12:10 PM
Jul 20

I don't follow EU politics too closely but I never hear of BIG MONEY corrupting their politics. I've wondered if that's because of their multiparty systems that would seem to be harder to manipulate and corrupt than a two-party/binary system. Maybe the Europeans are just politically smarter and more egalitarian than Americans. And less corrupted by predatory capitalism.

Liberté, égalité, fraternité.

EarlG

(22,371 posts)
46. In the UK they have laws to prevent this
Sat Jul 20, 2024, 01:26 PM
Jul 20
https://www.instituteforgovernment.org.uk/explainer/election-spending-regulated-uk

Party campaign spending is regulated by the Electoral Commission, an independent body overseen by the Speaker of the House of Commons, while returning officers (local council officials) oversee spending by candidates in each constituency.

How much can political parties spend at general elections?

Limits only apply to party spending during the 365 days before polling day – known as the ‘regulated period’ For the last general election on 4 July 2024, the regulated period began on 6 July 2023. Each party can spend £54,010 for each constituency that they contest. A party that chooses to contest all 632 seats in Great Britain at the election will therefore be able to spend just over £34m.

The maximum amount that a political party can spend if it contests every single seat in the UK is about $44 million. Meanwhile in the US we are about to spend over $10 BILLION on this year's elections.

They also have laws in the UK about media coverage of elections, and laws preventing the reporting of polls on election day itself.

If we tried this here, the Supreme Court would call it a violation of the First Amendment.

Prairie Gates

(2,136 posts)
143. Nobody in Europe would accept our bonkers two year long election cycles
Sun Jul 21, 2024, 11:46 AM
Jul 21

It would get in the way of their 8 weeks of paid vacation.

littlemissmartypants

(23,647 posts)
24. I've been saying this for a while. But I'm just a little woman so few people take me seriously.
Sat Jul 20, 2024, 12:21 PM
Jul 20

Thanks, EarlG. Well done! ❤️

Lifeafter70

(309 posts)
84. I as well
Sat Jul 20, 2024, 02:28 PM
Jul 20

Posted a few times it is about his policy not his age. Just the fact that not only are the asking him to step down but they are now passing over Harris by suggesting a mini primary. It's the platform and policies.

orwell

(7,852 posts)
26. Spot on...
Sat Jul 20, 2024, 12:25 PM
Jul 20

...and endemic to the ratfuckery that is rampant today.

In this age of unlimited information we are becoming an Idiocracy.

It has always been "follow the money", but now more than ever that path is obscured by mountains of complexity and algorithm driven disinfo targeting.

Most people do not understand how much they are being manipulated and how effective it is.

Drink your Brawndo...it's got electrolytes!

Thanks for the detailed post.

littlemissmartypants

(23,647 posts)
68. The concepts are not mutually exclusive. In fact the similarities are remarkable.
Sat Jul 20, 2024, 01:58 PM
Jul 20

He has taken a know word and expanded its definition. He definitely deserves credit for that.

❤️

BumRushDaShow

(137,149 posts)
72. "He has taken a know word and expanded its definition."
Sat Jul 20, 2024, 02:04 PM
Jul 20

Exactly my point! Not unlike this -



(where he famously personifies that march towards the enshittification" ).

littlemissmartypants

(23,647 posts)
79. Snort! OMGosh!! I needed a laugh!
Sat Jul 20, 2024, 02:21 PM
Jul 20




I actually think someone should edit Wikipedia to include his definition! Wouldn't that be something!



❤️

EarlG

(22,371 posts)
48. Indeed, I can't claim to have coined this word :)
Sat Jul 20, 2024, 01:28 PM
Jul 20

I referenced the original usage in my opening paragraph.

littlemissmartypants

(23,647 posts)
63. I know...it wasn't meaning that was mentioned. The word itself was though.
Sat Jul 20, 2024, 01:51 PM
Jul 20

Not to down play or criticize your post at all.

I think it should be sent out everywhere as a LTTE.

It would certainly be a great DU GOTV project if you were to ask each of us willing to do so.

Change you moniker and replace it with "The Democratic Underground" and I'd fire it off to as many places as I can find. But only with your permission.

As for the difference in the contextual usage, I don't think that the degradation of goods and the degradation of the voting process are much different actually. I certainly see similarly.

Thanks again! We'll done! ❤️

4dog

(513 posts)
49. Was about to cite Doctorow, but your link is better. And...
Sat Jul 20, 2024, 01:29 PM
Jul 20

for those who would like to sample his present- and future-oriented thinking, go to https://pluralistic.net/ or search for Cory Doctorow.

BootinUp

(48,273 posts)
30. Appreciate the compilation. I have followed this, may have even posted some of those.
Sat Jul 20, 2024, 12:42 PM
Jul 20

I think it is critically important that we beat this little revolt down. C R I T I C A L.

Botany

(71,686 posts)
31. Very well done Mr. Earl G.
Sat Jul 20, 2024, 12:44 PM
Jul 20
Very well done!

The bottom line is that crypto currency is basically worthless but it is bringing in
billions of dollars of real money from suckers who invest in it and President Joe
wants to stop that scam so the crypto people are all in trying to stop President
Biden.

And looky here bogus polls which are backed by Russia, Rupert Murdoch, and
Manafort are being used to drive the Joe must go movement.

https://www.democraticunderground.com/100219193600

ancianita

(37,606 posts)
33. Not only "extortion," but massive lobbying "investment" for whatever weakens a government they can then CAPTURE.
Sat Jul 20, 2024, 12:46 PM
Jul 20

Tech bros will not be ruled by democracy but instead intend to run their own privatized government.

Yours is a much needed and important historical review of where we are as tech world goes "all your bases are belong to us."

Thank you.

Pinback

(12,609 posts)
34. Outstanding post - thank you!
Sat Jul 20, 2024, 12:48 PM
Jul 20

I knew Maloney primarily as the guy who presided over the loss of the House majority in 2022 (including his own seat! ). I didn’t know of his involvement with the cryptocurrency “industry.”

Supposedly he was forced to sever any official relationship with the crypto lobby when Sen. Warren pressured him during the confirmation process for his appointment to OECD:
https://www.politico.com/news/2024/02/14/elizabeth-warren-wins-crypto-recusals-from-biden-nominee-00141390

But who knows how cozy a relationship he still may have with Coinbase?

BTW, former Atlanta mayor Keisha Lance Bottoms is affiliated with Coinbase and a Biden campaign advisor… (https://www.tradingview.com/news/cointelegraph:2173693b5094b:0-coinbase-global-adviser-to-join-president-biden-s-reelection-campaign/ )

Their efforts to keep regulators at nay will only intensify.

LudwigPastorius

(10,222 posts)
35. Are you saying that, except for the guy at the top and...
Sat Jul 20, 2024, 12:49 PM
Jul 20

a handful of elected officials in Congress, our party has been corrupted nearly beyond our ability to do anything about it?

How are you going to reconcile that with the Core Principles stating that divisive attacks against Democrats are not welcome, and the rule not to vilify members of the Democratic coalition or imply that they are fake Democrats?

There have been quite a few posts lately calling people like Nancy Pelosi, Adam Schiff, and Chuck Schumer traitors, and what you wrote doesn’t address that. If anything, it could encourage this sort of thing to continue.

Ninga

(8,480 posts)
39. You may be able to answer your own question if you go back and re-read the entire rationale.
Sat Jul 20, 2024, 12:58 PM
Jul 20

Earl wrote a compelling argument and provided attribution.

EarlG

(22,371 posts)
57. I seriously doubt that any elected Democrat WANTS to be in this position
Sat Jul 20, 2024, 01:45 PM
Jul 20

All signs indicate that the debate furor should have died down by now, after Biden made a whole bunch of successful appearances, and then we had the RNC with Trump's horrible speech doing him no favors. Biden has done everything asked of him, and the political landscape has changed since the debate. Despite this, the pressure on Biden is not declining -- it's increasing.

I'm not saying these Democrats are taking bribes. I'm not saying that some of them don't genuinely believe that Biden is going to be a drag on down ticket races, based on non-financial factors.

I'm saying that this there are extra-political forces applying pressure to this race, using the vast sums of money at their disposal to apply both carrot and stick to Democratic politicians, who unfortunately have no means to do anything about it.

I mean, House and Senate Democrats SHOULD panic, and rightly so, if a handful of rich donors suddenly tell them that they're only going to have half the funds (or less) that they were expecting to run their races this year. If that happens, it really could cause us to lose the House and Senate. But that's the fault of the big donors and the shitty system we have, not Joe Biden.

NBachers

(17,747 posts)
75. I agree- and I'll be watching to see if some of the more shocking Dem "Roll in the hay with the big donors" come back
Sat Jul 20, 2024, 02:08 PM
Jul 20

to our senses if we- and they- can pull this election out and win.

benfranklin1776

(6,503 posts)
38. Masterful analysis 👏🏼
Sat Jul 20, 2024, 12:57 PM
Jul 20

This lays out the money trail in excruciating detail. The critical takeaway though is this has royally pissed off the voters who selected President Biden overwhelmingly and in the calculus of these financial puppeteers we don’t matter except that we sure as hell do. WE are EVERYTHING and WE possess the power to defeat those undermining him and supporting the most abhorrent scumbag to ever hold that office so if WE use our righteous anger at this overt subversion of the democratic process then WE can kick these fascist puppet masters’ asses back to the primordial depths of their nihilistic netherworld from which they slithered.

KS Toronado

(18,595 posts)
55. It's imperative we go to public funded elections
Sat Jul 20, 2024, 01:39 PM
Jul 20

Enough with the guy with the most money wins, nothing fair about our current system.

Oneironaut

(5,715 posts)
61. We're in a position where arrogant idiots and tech bros control our Democracy. It's fucked.
Sat Jul 20, 2024, 01:50 PM
Jul 20

We badly need low campaign contribution limits. If we did, we wouldn’t have this astroturfed anti-Biden stuff happening. Half of these people don’t even care if the US stays a Democracy.

Grolph_

(111 posts)
62. Follow the Money
Sat Jul 20, 2024, 01:51 PM
Jul 20

It will always disappoint you in the end. So much human motivation is based on obtaining a few more pieces of silver.

It is the media that tells us a presidential campaign will cost $1B. That is the entry fee to even get mentioned during the nightly news. If you don't have the cash, you are not a serious candidate.

I believe I heard a house seat averages $7M. For $180K/year job?

The wealthy are buying this country, the Supremes say it is OK.
Do what they say or they will withhold their funds.
If the Republicans take control, there will be "closing papers" instead of an inauguration.

President Biden and VP Harris are the only option that will help those of us who have to worry about how much money is in the account today.

We need campaign financing reform that the Supremes cannot overrule.

Yo_Mama_Been_Loggin

(112,349 posts)
127. The Supremes said it was okay because they want their piece of the pie
Sun Jul 21, 2024, 09:12 AM
Jul 21

They don't even pretend to be ethical today.

Hermit-The-Prog

(36,125 posts)
66. Republicans have been feeding oligarchs, and obstructing anything that would regulate them, for decades.
Sat Jul 20, 2024, 01:53 PM
Jul 20

This election will either cement the power of the filthy rich to control this country, or be the beginning of taking it back by voters.

Koch and the billionaires have been training the judges* and politicians while slowly turning bits and pieces of government in their favor.

*
To put the success into perspective, MacLean points to the fact that Henry Manne, whom Buchanan was instrumental in hiring, created legal programs for law professors and federal judges which could boast that by 1990 two of every five sitting federal judges had participated. “40 percent of the U.S. federal judiciary,” writes MacLean, “had been treated to a Koch-backed curriculum.”
https://www.ineteconomics.org/perspectives/blog/meet-the-economist-behind-the-one-percents-stealth-takeover-of-america

Duncan Grant

(8,388 posts)
77. Pin this post.
Sat Jul 20, 2024, 02:16 PM
Jul 20

I can’t tell you how happy I am to see a critical analysis with citations, links, and evidence. Excellent!

drray23

(7,775 posts)
86. Earl, maybe you should consider writing this as an op-ed
Sat Jul 20, 2024, 02:35 PM
Jul 20

In a newspaper and then get invited to discuss it on morning Joe or Lawrence o donnel.

I don't know if you could get it published but it's worth a read by a much larger audience than just democratic underground.

Bev54

(11,282 posts)
91. I hope you do not mind, I sent a link to this to the WH
Sat Jul 20, 2024, 02:48 PM
Jul 20

I hope everyone will send a copy to the president, first lady, vice president and to Biden's campaign office. This needs to be read.

Demsrule86

(70,542 posts)
93. Thanks. This is important information. Money is at the root of the Biden meltdown by the media, and some politicians
Sat Jul 20, 2024, 02:49 PM
Jul 20

calling for his ouster. Our Republic is at stake.

misanthrope

(7,877 posts)
99. Very well said! Thank you!
Sat Jul 20, 2024, 02:59 PM
Jul 20

As I've said, the United States is no stranger to oligarchy and anyone with a familiarity of its history would know that.

LeftInTX

(28,787 posts)
100. Thank you for putting it all here!
Sat Jul 20, 2024, 03:00 PM
Jul 20

These crypto-bros are high stakes gamblers too. Traditional Democratic megadonors are generally not high risk takers. These professional gamblers just want to create anarchy.

aocommunalpunch

(4,323 posts)
103. Corruption is just a matter of your price.
Sat Jul 20, 2024, 03:08 PM
Jul 20

Too many think Dems are somehow immune from the corrupting influence of money and “donations”. I’ve been yelling about it for years, so nice to see others jump into the water. We all work for who pays us. Guess who pays modern politicians? Without the money out, this will continue. Bank on it. Literally.

OldBaldy1701E

(5,718 posts)
104. With all due respect...
Sat Jul 20, 2024, 03:23 PM
Jul 20

When was politics not shitty? It has always been a cutthroat, no holds barred, knockdown drag out and I have seen nothing to make me feel that this has changed at all.

Of course there is extortion. When your entire reality is based on money, then money really can do anything. We let this happen because we are programmed to believe that money is the only thing any human wants and what all humans kill and die for. Those who have it are now making sure a progressive mentality does not take hold of the party and, by extension, the country. Progressives want equality. Progressives want protections from greedy, vulturistic businesses. Progressives want quality controls and accountability. The wealthy don't want that. At all.

But, above all else, progressives want to show that there are other options in this country besides being rich or dying while making someone else rich. Those who expect us to worship them because they have the majority of the things know that their claim to power would disappear. So, they are trying to make sure that does not happen. Even if it destroys the nation as it now exists.

Because, face facts, if those fascists win, ultimate greed will still be in fashion and will still be encouraged. So, for the wealthy and their sycophants in this country, not a whole lot will change, now will it?

PatrickforB

(14,911 posts)
109. Yep. This is why I call billionaires parasites and Wall Street people greed lizards. And this whole campaign thing is
Sat Jul 20, 2024, 04:30 PM
Jul 20

one big, huge, shit-ificated, billionaire/Wall Street SQUEEZE.

This is raw greed and it is disgustingly banal.

Botany

(71,686 posts)
112. This should be on the front page of the NYTs, ..
Sat Jul 20, 2024, 05:15 PM
Jul 20

.... the Washington Post, the lead story on
MSNBC, and CNN.

Thank You Earl this outstanding work.

Yorkie Mom

(16,520 posts)
113. Can you clairfy?
Sat Jul 20, 2024, 05:15 PM
Jul 20

It seems that you think that the only reason democrats are asking Biden to step aside is because of money and your well documented timeline.

Do you think this has nothing to do with Biden's health?

As the owner and admin your opinion means a lot.

EarlG

(22,371 posts)
115. All I know about Biden's health is that
Sat Jul 20, 2024, 06:31 PM
Jul 20

his doctors keep giving very transparent and comprehensive reports on how he’s doing, and they don’t seem concerned.

Anything else — for example, the idea that some Democrats “know something” about his health that they’re not telling us for some reason — seems like speculation to me.

You ask a good question though… I think it speaks to the fact that so much of what is “flooding the zone” out there right now is just rumormongering.

There are still firm facts in play — for example, Biden’s doctor’s reports — that we can point to and say, “this is true.” If there is evidence to the contrary, then we can evaluate it/when it’s made public. We just have to see it.

Yorkie Mom

(16,520 posts)
116. Thank you for your response.
Sat Jul 20, 2024, 06:44 PM
Jul 20

For me, it's a wait and see. I can't wrap my head around them (top dems) doing what they are unless they think there is a health issue, and a serious one at that. I guess we'll know soon one way or the other because the statements coming out seem to be more direct.

yellowdogintexas

(22,636 posts)
117. Bob Cesca raised some of these same points the other day on his podcast.
Sat Jul 20, 2024, 10:15 PM
Jul 20

Especially the part about the rich CEOs and so on wanting him out because of the very good things he wants to do (which will make them make a teeny bit less money)

Thank you for this !!!

summer_in_TX

(3,021 posts)
118. This explains so much.
Sun Jul 21, 2024, 12:27 AM
Jul 21

I'd just run across a thread on Twitter | X that goes right along with this. I'd posted part of the thread here: https://www.democraticunderground.com/?com=view_post&forum=1002&pid=19198132

The kicker in what she (Dr. Lisa Corrigan) was her last point:
"The Dump Biden convo is the GameStop short squeeze of election season."

orangecrush

(20,870 posts)
119. It's got to be frustrating for you
Sun Jul 21, 2024, 12:56 AM
Jul 21

Battling this bullshit even here, as we have been seeing.

I remember the purges of yesteryear.

Perhaps that would put a stop to the attempted dragging down of the ticket.

I hope I'm not out of line for saying so, and if I am, I sincerely apologize.

https://www.democraticunderground.com/100219180095

applegrove

(121,335 posts)
120. No doubt criptobros are at play. So is a superficial
Sun Jul 21, 2024, 02:05 AM
Jul 21

take on Biden's age where the majority of voters, 70%, think Biden is too old. I doubt very much Nanci Pelosi is driven by big donors. Plus if Biden stays on he can brag that is how he'd handle an insurrection. With relentless steel.

S/V Loner

(9,072 posts)
121. It's a win/win for the Oligarchs.
Sun Jul 21, 2024, 06:01 AM
Jul 21

They are hedging their bets so, no matter who gets elected, they come out winners. It was, and always had been, about the money.

Peacetrain

(23,559 posts)
124. Bookmarking for Mr Peacetrain.. so well laid out
Sun Jul 21, 2024, 07:54 AM
Jul 21

Thank You Earl G for doing that and the links.. much appreciated

Pepsidog

(6,290 posts)
129. So this is what Mark Cuban was referring to in his X post about Thiel's and Musk's plan to give millions to Trump.
Sun Jul 21, 2024, 09:25 AM
Jul 21

He basically said it was a crypto play but I didn’t understand the implications. Great reporting here.

nuxvomica

(12,731 posts)
130. Seth Moulton (D-MA) was on New Yorker Radio yesterday
Sun Jul 21, 2024, 09:29 AM
Jul 21

Talking about how Biden needs to step down and rhapsodizing about how Biden mentored him, sometimes with 3-hour breakfast meetings, to show how fond he is of the president. He was one of the earliest to call for Biden stepping down and has been a huge supporter of cryptocurrency, enjoying an "A" rating from "Stands with Crypto".

Linda ladeewolf

(220 posts)
133. Thank you so much!
Sun Jul 21, 2024, 10:03 AM
Jul 21

I’ve been reading bits and pieces of this for months and couldn’t tie it all together. My memory is not what it used to be, but my instincts still work. It all felt like a huge conspiracy and I hate conspiracies. I could see something but just couldn’t hang on to the thread long enough to connect the dots.

We need to get big money out of the election system. We need desperately to overturn citizens United! We need to tax churches and any organizations that interfere in our elections and government. We need especially to tax the wealthy and all corporations heavily so they don’t have the money to buy our government. We need to make lobbying illegal as well. We need to raise the minimum wage to a livable amount so it doesn’t matter how corporations try to stiff us. Putting a ceiling on rents and gas prices and passing a few rules on corporations wouldn’t hurt either. Like if you sell to Americans as an American corp you must be based in America and hire American Citizens, not sure how that would fly, but we do need it. First of all we need to expand the Supreme Court and get those ethics rules in place, with penalties!
I hope this doesn’t sound to silly.

ultralite001

(1,021 posts)
139. Data doesn't die...
Sun Jul 21, 2024, 10:35 AM
Jul 21

It is often errantly repurposed outside it’s original intent.

Cambridge Analytica’s data seemed to disappear when it’s twisted relationship w/ Facebook bore serious scrutiny. CA had grand crypto plans + so much user data…

+ crypto has some nefarious underpinnings — promoted by equally questionable advocates…

The relationships of politics bros w/ tech bros + crypto bros + media bros is enough to give me nightmares about the future…

https://www.scmp.com/news/hong-kong/economy/article/2142342/cryptocurrency-linking-cambridge-analytica-and-macaus-most

https://www.thestreet.com/crypto/innovation/former-cambridge-analytica-director-personal-data-advocate-praises-blockchain-tech

Erda

(127 posts)
141. Thank you so much for this wonderful post!
Sun Jul 21, 2024, 10:50 AM
Jul 21

I just emailed Rachel Maddow's tip line and asked her to examine the connection between this effort to oust President Biden and crypto-currency regulations a second Biden term might try to implement.

Is there a way to get the information in your post to the general public through a media outlet - perhaps Rachel Maddow, 60 Minutes, Lawrence O'Donnell, the Lincoln Project, the Seneca Project - and also to politicians like Elizabeth Warren, Bernie Sanders, AOC (if they don't know this already)?

DontBelieveEastisEas

(1,004 posts)
145. Most of the dynamics you bring up, were already baked in.
Sun Jul 21, 2024, 12:00 PM
Jul 21

These same dynamics were in play before the debate. And it is not just the "Donor Class", the "Media class" and "Democratic Officials Class".

Posts like these, I think, unfairly stigmatize our Democratic Leaders and attribute ulterior motives that to them.
I see lots of Media that say Biden should stay in the race. There are many journalist that have pride in the honesty of their reporting.

If there was a replacement, the replacement would likely be a lot like Biden.
And If you think they suddenly found a better way to undermine Dems chances and are jumping on the opportunity, you should take a look at what those chances would be otherwise.

Donors like Cloony are not hoping that Dems lose. Everyday people are not hoping that Dems lose.

When looking for reasons, it would be better to just look at it simply.

EarlG

(22,371 posts)
153. I'm in no way suggesting that Democrats want to lose
Sun Jul 21, 2024, 01:17 PM
Jul 21

I'm suggesting that they've been put in an impossible position because of America's completely broken and corrupt campaign finance system.

Due to the amount of money in politics, Democrats cannot compete without big money donors. This means that big money donors get to call the shots, and we normal voters get shut out of the process.

If you're in Democratic leadership, and you get told by a number of big donors that if you don't call for Biden to step down, they'll pull funding from 30 House races, what are you supposed to do?

There may well be elected Democrats who are completely unaffected by this dynamic -- they really believe that we have a better chance of beating Donald Trump by ditching Biden and selecting someone else. Personally I think that's political suicide, but they can have that opinion.

But it seems obvious that there's much more to it than that. Wavering Democrats demanded that Biden jump through a series of hoops -- do a press conference, do an interview, get back out on the campaign trail -- and he's done all that. Biden's bad debate is now ancient history in political terms. Yet not only are the calls for him to step down getting louder, it's more obviously apparent that this is all being driven by big donors, rather than rank and file Democrats.

July 4, 2024:

Major Democratic Donors Devise Plans to Pressure Biden to Step Aside

After several days of quiet griping and hoping that President Biden would abandon his re-election campaign on his own, many wealthy Democratic donors are trying to take matters into their own hands.

Wielding their fortunes as both carrot and stick, donors have undertaken a number of initiatives to pressure Mr. Biden to step down from the top of the ticket and help lay the groundwork for an alternate candidate.

The efforts — some coordinated, some conflicting and others still nascent — expose a remarkable and growing rift between the party’s contributor class and its standard-bearer that could have an impact on down-ballot races, whether or not the donors influence Mr. Biden’s decision.

https://www.nytimes.com/2024/07/04/us/politics/biden-donors.html

July 17, 2024:

Megadonors Are Plotting How Best to Change Biden’s Mind

“If you don’t publicly call for Biden to step aside, you are not getting a dime from me,” said Tom Strickler, the founder of Hollywood talent agency WME, to New Mexico Senator Martin Heinrich’s team last Thursday. Strickler said he had been planning to financially support seven of the most vulnerable Democratic senators, but would not be doing so because they still backed Biden’s candidacy.

“It’s a message that I’ve encouraged my friends to send as well,” Strickler said. “If you back Biden, you will lose our support. Over and out.”

https://newrepublic.com/post/183957/megadonors-plotting-change-biden-mind

July 20:

New ads push Biden to drop out of the race, funded by mysterious new super PAC

A mysterious new political action committee has spent $36,000 on ads urging President Joe Biden to leave the 2024 race, including in his home state, Delaware, during "Morning Joe," his favorite television program.

Pass the Torch PAC was created July 9, according to records from the Federal Election Commission, 12 days after Biden's disastrous debate against Donald Trump, during which the president appeared to lose his train of thought and failed to counter his opponent's statements.

Aaron Regunberg, a former Democratic state lawmaker from Rhode Island, told USA TODAY he is a co-founder of the group but declined to say who is financing it.

https://www.democraticunderground.com/10143275837

Meanwhile, July 21 (today):

Democratic Party chairs in 7 battleground states reaffirm support for Biden

Democratic Party chairs of seven critical battleground states Sunday reaffirmed their support for President Joe Biden, urging their fellow Democrats to focus on beating former President Donald Trump while many in the party are trying to push Biden to drop out.

In an open letter to Democrats obtained by USA TODAY, the party chairs argued Democrats have a unified message of "freedom, democracy, and an economy that works for working people" that can beat Trump's "MAGA threat of abortion bans, dictatorship, and giveaways to billionaires."

"But right now, many voters aren’t hearing that from our party. We understand the anxiety. But the best antidote to political anxiety is taking action," they wrote in the letter. "When we all lend our voices to contrasting the Democratic vision — from Biden-Harris straight down the ticket — with the MAGA nightmare, we win."

The letter is signed by state Democratic Party chairs Ben Wilker of Wisconsin, Lavora Barnes of Michigan, Sharif Street of Pennsylvania, Anderson Clayton of North Carolina, Nikema Williams of Georgia, Yolanda Bejarano of Arizona and Daniele Monroe-Moreno of Nevada. The seven states are likely to decide the outcome of the 2024 election.

https://www.democraticunderground.com/10143276269

DontBelieveEastisEas

(1,004 posts)
160. I did not misunderstand you to be saying Dems want Biden to lose. I just pointed out that some Donors also do not.
Sun Jul 21, 2024, 02:12 PM
Jul 21

We want Dems to win with all of our heart and soul.

... it's more obviously apparent that this is all being driven by big donors, rather than rank and file Democrats.


You claim that it is not driven by rank and file Democrats.
Do you have data on what rank and file Democrats are asking for?
When I posted the percentages of their opinions in recent polling, you locked the thread!

-- do a press conference, do an interview, get back out on the campaign trail -- and he's done all that. Biden's bad debate is now ancient history in political terms. Yet not only are the calls for him to step down getting louder,


As for as asking him to do successful press conferences, and interviews, the results of those are, of course, subjective.
Biden's bad debate is not ancient history in political terms, some things have legs.
 

Marcus IM

(3,001 posts)
148. So, I guess we're not the envy of the world?
Sun Jul 21, 2024, 12:53 PM
Jul 21

When govts of Latin America want to distance themselves from all the US corruption, how does the same media react? What propaganda is propelled?

DICTATOR FOR LIFE headlines, with reams of corporate propaganda written.

Swallowed whole - hook, line, and sinker.

As much as I hate it, there's an iota of schedenfraude for some of the Latin American and Caribbean victims of US RW corporate propaganda, and it's corrupting political influence.

Chickens... roosting.

Justice matters.

(7,278 posts)
149. Amazingly stated, but what happened in the 2018 mid-terms?
Sun Jul 21, 2024, 12:59 PM
Jul 21

The supposed "red wave" every "polls" were showing before the elections turned out to be a "flop wave" ...

Republicans were predicted to take both the House and Senate by big margins "polls" but they barely took the House by thin margins.

Thanks!

Warpy

(112,696 posts)
155. Swift kick
Sun Jul 21, 2024, 01:23 PM
Jul 21

It's a hostile takeover attempt by people we don't want anywhere near our government.

RESIST.

EarlG

(22,371 posts)
162. Well :)
Sun Jul 21, 2024, 03:42 PM
Jul 21

Now, we move on. But it doesn't change the fact that our campaign finance system is still royally fucked.

REFORM seems like it should be our watchword going forward. Supreme Court, campaign finanace... you name it.

Dark money has badly corrupted our political system.

Kali

(55,453 posts)
163. yeah
Sun Jul 21, 2024, 04:28 PM
Jul 21

this is all so crazy. I hope we can pull this off. maybe it will work out. if we all work hard and do our parts.

jaxexpat

(7,387 posts)
161. Closes the loops......and with receipts no less.
Sun Jul 21, 2024, 03:37 PM
Jul 21

You know, some people would even go to war, even one with tens of millions of casualties, if the money was in it.

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