The payoff from Thiel’s early gamble in Trump is a lesson that has not passed others by.

As with their other obsession, #crypto, the best time to have invested in Trump was 2016,
and the second best time is today.

We already have a word for what we’re watching now:
it’s #oligarchy.

And we’ve already seen how this plays out.

In Putin’s Russia, political and commercial interests are one and the same.

Thiel is betting
– again
– on the same phenomenon in America.

Betting that he will be first among a new breed of tech bro oligarchs
– a new super-class of #broligarchs.

In Trump’s America, there will be hard choices for everyone, including the billionaires. --
Though it may be less hard for them.

Vance has said he wants to #deregulate crypto and
unshackle AI.

He’s said he’d #dismantle Biden’s attempts to place safeguards around AI development.

And while he has it in for the #legacy #monopolies of Google and Facebook
– the platforms that his ideological bedfellows in the “new right” see as part of the “censorship industrial complex” suffocating rightwing speech
– Silicon Valley is betting on a gloves-off, regulation-free, pro-business #goldrush.

Another Peter Thiel acolyte was on stage at the Republican National Convention last week,
electrifying the crowd:
#Hulk #Hogan.

Hogan is less well known as one of Thiel’s longterm bets, though in some ways he’s even more instructive than Vance.

In 2007, the online magazine #Gawker outed Thiel and ran a series of unflattering articles about him.

It took him years, but he ultimately got his revenge, covertly funding Hulk Hogan to the tune of $10m to sue the publication for invasion of privacy and forcing it into #bankruptcy.

On stage at the RNC, the wrestler, a permatanned orange, ripped off his shirt for the man who increasingly looks like he’ll be America’s next president.

Or, if JD Vance, is correct, the man who will prove to be the #Caesar he says America needs.

A man who he has already urged to fire the nation’s civil servants to
“replace them with our people”,
to defy the courts and rule his own way.

Or, to put this in simple terms:
to foment a #coup.

Thiel knows what every investor knows. That a crisis is an opportunity.

And that if Trump succeeds in tearing up the federal administration,
there is not only billions to be made in the ensuing market #turmoil but that a new breed of oligarchs,
close to Caesar’s throne, will be the first to share the spoils.

And chief among them will be Thiel.

It’s not a stretch to see how #Palantir, his data-mining company
– that under the Conservatives got its teeth into the NHS
– will profile and surveil and target Caesar’s enemies.

And Thiel’s track record in winning, in successfully betting on the longest of odds, on biding his time, is maybe the most chilling of all the factors in a fortnight that has started to feel like the start of a run on the bank.

Biden’s debate disaster,
Trump’s victorious assassination survival,
and now Silicon Valley’s ascension to the presidential ticket.

The broligarchs have made their move
– and the rest of us need to understand exactly what that means.

A World of Slaves:
Most Americans haven’t seen what’s coming.

Nancy MacLean notes that when the #Kochs’ control of the GOP kicked into high gear after the financial crisis of 2007-08, many were so stunned by the “shock-and-awe” tactics of #shutting #down government, #destroying #labor unions, and #rolling #back #services that meet citizens’ basic necessities that few realized that many leading the charge had been trained in economics at Virginia institutions, especially George Mason University.

Wasn’t it just a new, particularly vicious wave of partisan politics?
It wasn’t.

MacLean convincingly illustrates that it was something far more disturbing.
MacLean is not the only scholar to sound the alarm that the country is experiencing a #hostile #takeover that is well on its way to radically, and perhaps permanently, altering the society.

Peter #Temin, former head of the MIT economics department, INET grantee, and author of "The Vanishing Middle Class", as well as economist Gordon #Lafer of the University of Oregon and author of "The One Percent Solution", have provided eye-opening analyses of where America is headed and why.

MacLean adds another dimension to this dystopian big picture, acquainting us with what has been overlooked in the capitalist right wing’s playbook.

She observes, for example, that many liberals have missed the point of strategies like #privatization.

Efforts to “reform” #public #education and #Social #Security are not just about a preference for the private sector over the public sector, she argues. You can wrap your head around those, even if you don’t agree.

Instead, MacLean contends, the goal of these strategies is to radically alter power relations, #weakening pro-public forces and #enhancing the #lobbying #power and commitment of the corporations that take over public services and resources, thus advancing the plans to #dismantle #democracy and make way for a return to #oligarchy.

The majority will be held captive so that the wealthy can finally be free to do as they please, no matter how destructive.

MacLean argues that despite the rhetoric of Virginia school acolytes, shrinking big government is not really the point.

The #oligarchs require a government with tremendous new powers so that they can bypass the will of the people.
This, as MacLean points out, requires greatly #expanding #police #powers “to control the resultant popular anger.”
The spreading use of pre-emption by GOP-controlled state legislatures to suppress local progressive victories such as living wage ordinances is another example of the right’s #aggressive use of #state #power.

Could these right-wing capitalists allow private companies to fill #prisons with helpless citizens—or, more profitable still, right-less undocumented #immigrants? They could, and have.

Might they engineer a #retirement #crisis by moving Americans to inadequate 401(k)s? Done.

Take away the rights of consumers and workers to bring grievances to court by making them sign #forced #arbitration agreements? Check.

Gut #public #education to the point where ordinary people have such bleak prospects that they have no energy to fight back? Getting it done.

Would they even refuse children #clean #water? Actually, yes.

MacLean notes that in #Flint, Michigan, Americans got a taste of what the emerging oligarchy will look like — it tastes like #poisoned #water. There, the Koch-funded Mackinac Center pushed for legislation that would allow the governor to take control of communities facing emergency and put unelected managers in charge.
In Flint, one such manager switched the city’s water supply to a polluted river, but the Mackinac Center’s lobbyists ensured that the law was fortified by protections against lawsuits that poisoned inhabitants might bring. Tens of thousands of children were exposed to #lead, a substance known to cause serious health problems including brain damage.

Libertarian economist Tyler #Cowen has provided an economic #justification for this kind of #brutality, stating that where it is difficult to get clean water, private companies should take over and make people pay for it. “This includes giving them the right to cut off people who don’t—or can’t—pay their bills,” he explains.

To many this sounds grotesquely #inhumane, but it is a way of thinking that has deep roots in America.

In "Why I, Too, Am Not a Conservative" (2005), Buchanan considers the charge of #heartlessness made against the kind of classic liberal that he took himself to be.

MacLean interprets his discussion to mean that people who “failed to foresee and save money for their future needs” are to be treated, as Buchanan put it, “as #subordinate members of the species, akin to…#animals who are dependent.’”

Do you have your education, health care, and retirement personally funded against all possible exigencies?
Then that means #you.

https://www.ineteconomics.org/perspectives/blog/meet-the-economist-behind-the-one-percents-stealth-takeover-of-america