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mtracey's profile
Michael Tracey
Michael Tracey
Michael Tracey
Verified account
@mtracey

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Michael TraceyVerified account

@mtracey

Roving journalist, friend to all dogs mtracey@protonmail.com

NYC
patreon.com/mtracey
Joined March 2009

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    Michael Tracey‏Verified account @mtracey Jul 6
    • Report Tweet

    Enlightening essay on how financialization of the economy has hollowed out the US defense industrial sector, which can barely even provision basic items to the military any more -- China is now "the single or sole supplier" of numerous essential materialshttps://www.theamericanconservative.com/articles/americas-monopoly-crisis-hits-the-military/ …

    1:12 PM - 6 Jul 2019
    • 131 Retweets
    • 232 Likes
    • Mister Excitement Chaim Goyington 7 ANN Bitcoin Sissy Fuss Jim A. Pacheco Pompeo & Circumstance🇺🇸⭐️⭐️⭐️ AmbireSeiche
    22 replies 131 retweets 232 likes
      1. New conversation
      2. Stephen McIntyre‏ @ClimateAudit Jul 6
        • Report Tweet
        Replying to @mtracey

        as someone who's lived through this 50-year period in non-finance private sector, I don't attribute decline of core industrial capacity primarily to Wall St, as opposed to broader social and cultural failure to value such industries, esp by academic and public sector elites

        4 replies 8 retweets 25 likes
      3. Stephen McIntyre‏ @ClimateAudit Jul 6
        • Report Tweet
        Replying to @ClimateAudit @mtracey

        2/ a particularly pernicious mechanism has been enormous offshore (China) financing of public sector deficits. The other side of this coin was the huge trade surplus in manufactured goods, which put so many factories and companies out of business.

        1 reply 2 retweets 9 likes
      4. 3 more replies
      1. GEPSD Consulting‏ @gepsd Jul 6
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        Replying to @mtracey

        Remember that thing called a domestic economy?

        0 replies 0 retweets 4 likes
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      1. New conversation
      2. Capablanca‏ @CAPABLANCA_92 Jul 6
        • Report Tweet
        Replying to @mtracey

        I think this can be more attributed to trade policy and the Chamber of Commerce than the Wall Street and “finance.” There is some overlap in that Venn diagram, but trade deserves more blame. Good column though.

        1 reply 0 retweets 2 likes
      3. Gabriel Chamyan‏ @arboretumlvr Jul 7
        • Report Tweet
        Replying to @CAPABLANCA_92 @mtracey

        Both. Am Chamber of Commerce didn't have to work with labor unions by outsourcing, labor savings increased profits, this increased stocks, Wall St happy. But financialization definitely had a very big role in all of this.

        0 replies 0 retweets 1 like
      4. End of conversation
      1. New conversation
      2. Hebdo2015‏ @DantesBeatrix Jul 9
        • Report Tweet
        Replying to @mtracey

        Key to this financialization are stock buybacks - not legal 30 years ago. If a CEO buys back shares then over time he can fairly easily guarantee a price/share increase. He can't as easily guarantee this price/share increase by investing in his own company.

        1 reply 0 retweets 1 like
      3. Hebdo2015‏ @DantesBeatrix Jul 9
        • Report Tweet
        Replying to @DantesBeatrix @mtracey

        And of course CEO pay is tied to price/share, making the incentive to buy back shares, rather than invest in the company, even more perverse.

        0 replies 0 retweets 1 like
      4. End of conversation
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      1. Skip Mendler‏ @smendler Jul 6
        • Report Tweet
        Replying to @mtracey @matthewstoller

        What did Mao say about selling the capitalists the rope by which they will hang?

        0 replies 0 retweets 2 likes
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      1. Stanislav Petrov‏ @StanislavPetrov Jul 6
        • Report Tweet
        Replying to @mtracey

        How are we supposed to supply basic items to our military with a budget of only a trillion dollars a year?!?! get with the program Tracey!

        0 replies 0 retweets 1 like
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      1. Lewy’s Tw Break‏ @LewysBreak Jul 6
        • Report Tweet
        Replying to @mtracey

        Nah, this is a tangent and couldn’t be further from the truth. In fact, the practice this article is suggesting, and it is a suggestion without connectivity to what happens, is a violation of strict federal acquisition regulation.

        0 replies 0 retweets 0 likes
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      1. Oops! The Planet! ⓥ‏ @TippingElements Jul 6
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        Replying to @mtracey

        When manuf. & war profiteer halves of world collide. Americans expect rules don’t apply to them, in part due to never paying consequences of war— why war mongering w/ Iran is perilous. We can’t imagine being isolated / sanctioned by rest of the world. China doesn’t really need us

        0 replies 0 retweets 0 likes
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      1. Greg Shane‏ @GregShane4 Jul 6
        • Report Tweet
        Replying to @mtracey

        Reading this and other articles, it seems that the Pentagon's preference for smaller numbers of highly advanced weapons e.g. the F-35 has created a death spiral of higher costs and fewer suppliers. Fine with me.

        0 replies 0 retweets 0 likes
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      1. #micko1963 #BritishIndependence‏ @MickMicko1963 Jul 6
        • Report Tweet
        Replying to @mtracey

        Trusting a nations defence to the corporate mic is insane ..they are only interested in high volume sales and pocket lining for the 0.01%. Do like Russia did keep it in house

        0 replies 0 retweets 0 likes
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      1. Kinene Barzin‏ @fannyfrogg Jul 6
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        Replying to @mtracey

        What isn't made in China, these days?

        0 replies 0 retweets 0 likes
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      1. AllAboutEnergy‏ @DjordjoMicic Jul 6
        • Report Tweet
        Replying to @mtracey

        Very good article: “The national ability to produce is a national treasure. If you can’t produce you won’t consume, and you can’t defend yourself.” I think destroying the USA is a strategic goal for a New World Order with China as a role model.

        0 replies 0 retweets 0 likes
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      1. climate moment of truth‏ @relayswarm Jul 6
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        Replying to @mtracey

        It's also (sort of) a really simple way to get in touch with mehttp://www.linkedin.com/in/financetize 

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      1. BEN123L‏ @BEN123L Jul 6
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        Replying to @mtracey

        china wins

        0 replies 0 retweets 0 likes
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      1. Dr. Brian Poe‏ @PoeBrianL Jul 6
        • Report Tweet
        Replying to @mtracey

        > “hollowed out the US defense industrial sector” The war machine ought to be dismantled. Humanity is waking up. #EndAllWarspic.twitter.com/7YgZ3NS3O2

        0 replies 0 retweets 2 likes
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      1. Watchin' You!‏ @1M9B5C9D Jul 6
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        Replying to @mtracey

        Isn’t Congress a fantastic group of patriots?! It’s a shame that the backs of middle class Americans are continually burdened by the federal government to support its obesity while it irresponsibly spends our tax dollars abroad and does virtually nothing for those American$

        0 replies 0 retweets 0 likes
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