Chu 朱Mar 7

I honestly don't get how the upper class old money let Trump systematically destroy their money presses. These old rich families must know that their wealth depends on the stability of the political system and American hegemony.

Are they all so greedy and stupid that they don't see the money trees getting uprooted?

All these short term gains and quarter by quarter earnings reports have made them lose the plot.

Show threadMatildaMar 7
@chu I wonder about this too. The only thing I can think is that they also want power and status. In Trumps world they are the only people that matter? (Except obv Trump is the only person who thinks he matters)?? Dunno
Show threadAlexanderVI

@junklight @chu

Old money is not what is driving the current short-termism. Old money is long-termist; it wants to protect and grow its legacy. New (Silicon Valley, venture capital) money wants hyperscaling and asset stripping.

This is a repeat of Western capitalists eclipsing aristocrats over the course of the 15th to 19th centuries. Trollope's "The Way We Live Now" is partly about this.

Mar 7 at 1:01pmWeb
Show threadChu 朱Mar 7

@AlexanderVI @junklight

Right... So why aren't they using their power, money, and influence to stop it is what I'm wondering.