We can’t afford to grieve in our contemporary culture. There is literally no space, time, or network to allow for us to process the wrongs done, to atone the righteous rage we feel at a degraded earth and the waste of our own lives. Without the capacity to grieve, how can we authentically rejoice? Maybe that’s the newfound attraction to virtual realities – they are subdued, under our control, and can’t really hurt us (nor elevate us). Joy has become dialed down to entertainment. We’ve become content with blah. Because we can’t grieve.
Pat McCabe, Weyakpa Najin Win (Woman Stands Shining) of the Diné (Navajo) Nation describes the difference between lighting a fire by hand, versus with a standard plastic or metal lighter: “the machine takes out the tenderest part of feeling.” It’s not as if nothing is lost – it makes it harder to connect with the yearning for the thing that occurs. The miracle of the product – the creative spark. When we mechanize, technologize, automate, or routinize the creative process – which is not just originality, but production and reproduction – we lose the depth of longing. We lose the densities of prayer. The threads of the hologram.
So, I came across this brilliant comedian on Facebook the other day, and Facebook, in all of their infinite wisdom censored it from me, according to their factcheckers (who have done absolutely nothing to curb climate change, by the way).
Toni Bologna claims Vanguard and Blackrock own the world – and it turns out they do. Only they do so with a few of their friends, according to ‘fact checkers’.
AAP – the Australian Associated Press fact checkers – are funded by major corporations. It makes sense that they wouldn’t want people revealing that fact. Because that would undermine their legitimacy, and the standing they have to fact check (read: censor) those who they disagree with, like this dancing lady fact checking them: https://www.aap.com.au/factcheck/global-corporate-monopoly-claim-dances-on-edge-of-reality/
Their article goes to pains to show that Toni Bologna is in fact correct in her assessment, but spin it by the letter of the law rather than the spirit. This is spin doctorism at it’s most wall street shamanic.
It is narrative control while admitting wholeheartedly to the open conspiracy of a few corporations controlling virtually all capital.
What is striking is this is not a video getting millions of views, and telling people to overthrow their governments. No, it has been shared less than a thousand times, with probably as many watches. So why pick on small fry? Especially when there are real misinformation artists out there with weapons and deadly intentions? Maybe because these “false” by-a-technicality claims are directed at the very platforms and factchecking funders themselves?
For simplicity’s sake, I’ve reposted AAP’s entire article below. See if you can point out how they both admit to the truth claim while spinning it as if it was false, when really, they are saying they win on a technicality.
Global corporate monopoly claim dances on edge of reality
AAP FactCheck March 18, 2022
A video shared on Facebook claims two companies own most of the world’s corporate giants including competing firms Apple and Microsoft, and Coke and Pepsi.
The social media user makes the claim in the video while performing an interpretive dance.
However, experts have told AAP FactCheck the two companies she names, BlackRock and Vanguard, are investment managers which in most cases “own” less than 10 per cent of shares in the corporations and have a negligible influence on them.
The video has been posted on Facebook accounts such as this one (archived here). The post’s text says: “Want to know who REALLY runs the world ?? Everything is owned by the same people, and I’ll admit. Their strategy to conceal it, is clever.”
In the video, the woman says: “Since the 1970s, two corporations have gobbled up most of the earth’s companies – Vanguard and BlackRock,” (video mark 6 sec).
Later she says: “These two mega-corporations own all the smaller corporations so we have a monopoly inside of a monopoly. Vanguard and BlackRock own Coke and they own Pepsi. They own Apple and they own Android, i.e. Microsoft. They own American Airlines, they own Delta. They own oil and they own solar. They own eBay and they own Amazon,” (video mark 50 sec).
It’s true Vanguard and BlackRock are major shareholders of many corporations she names, strategically investing their client’s money in order get a good return.
At the time of writing, Vanguard is Apple’s major shareholder with 7.33 per cent of stock, while BlackRock is third at 4.14 per cent. Vanguard is also Microsoft’s major shareholder at 7.80 per cent; BlackRock second at 4.45 per cent.
But they are not alone in dominating the shareholdings.
However, financial experts say it’s incorrect to equate these shareholdings with control of the corporations.
He told AAP FactCheck that because there are large money market funds or institutional investors in most developed countries, there is a degree of common ownership, but that isn’t a monopoly.
“It just says they (BlackRock and Vanguard) might each be the largest shareholder in a large number of businesses, but that large shareholding is likely to be in proportion through the relevant index – so they might be the largest shareholder because they have seven per cent of the shares,” he said in a phone interview.
“Occasionally they get to 10 (per cent), but that doesn’t mean that they control that business. It doesn’t always mean they influence that business.”
Dr Nicholls says Vanguard and BlackRock are not “owners” of corporations in the sense depicted in the Facebook video.
He says investors who want exposure to the stock market can purchase an exchange traded fund, a passive investment that buys shares in proportion to market capitalisations – but someone has to actually buy the shares that build the funds and that’s the role of Vanguard and BlackRock.
“So what you tend to find is that large businesses, because of their market capitalisations, tend to have the larger institutional investors as significant or major shareholders – and indeed so significant that on disclosure listings the likes of BlackRock and Vanguard appear to own everything.”
“Even the largest of the index funds (e.g., Vanguard) will have very small absolute ownership stakes (around 5%) in Australian companies,” Dr Casavecchia said in an email.
“While such holdings could influence proxy voting or firm governance matters it is difficult to imagine how a single institutional investor with a small percentage holding would have the motive and influence (or capability) to push corporate executives to engage in uncompetitive practices across an entire industrial sector.”
“They invest money on behalf of other people and (are) not the beneficial owners themselves,” Dr Triggs said in an email.
“They are the largest single shareholder in many publicly listed companies but this is not the same as ownership.”
However, Dr Triggs says there’s evidence common ownership of competing firms, such as Coke and Pepsi, reduces competition and has argued this can cause anti-competitive outcomes.
The claim two companies own most of the world’s major corporations is false. Experts told AAP FactCheck that Vanguard and BlackRock are two of the world’s biggest investment managers and appear among the top shareholders of many corporations, without actually owning them or having a major influence on how they are run.
Vanguard and BlackRock are also not exclusively the major shareholders. Investment companies State Street and Berkshire Hathaway also appear among the top shareholders of many large corporations.
False – The claim is inaccurate.
From Eric Holthaus’s newsblog interview with Ketan Joshi in The Phoenix:
What I’d love to see is a major company, instead of buying offsets and greenwashing us, is to be up front and unambiguous and say: “We are not going to fully reduce our emissions right away, but we’re going to cut them as much as we can. We added all our emissions up, and here they are, here’s the numbers. On top of that, we’re going to fund Indigenous people to protect this piece of land.”
I’ve got a new blog in the Environment & Society blog loosely connected to my 2021 paper in their journal.
It builds on my interest in environmental history, particularly having read Fabian Scheidler’s The Age of the Megamachine. “Before colonizing the world, Europe itself had been brutally colonized,” Scheidler writes.
I focus on phosphate mining on the island of Nauru, and how this unnecessary practice emerged from a break in the biological circular economy, what Marx called “the metabolic rift.”
Environment & Society do a real service to the academic and public communities, and it’s always a pleasure to work with them. Their articles and content is exactly the sort of research that needs to be done to connect history, community agency, environmental acknowledgement, and policy change.
Environmental philosopher and public health scientist Yogi Hale Hendlin will discuss the relationship between climate and viruses during this webinar and argues for a drastic change in behavior instead of treating symptoms. Is our relationship to flora and fauna not partly to blame for the current crisis? Which insights from climate research offer a perspective for the corona crisis, and vice versa? And how these two pandemics – one infectious, the other chronic – intertwined?
A collection of some of my favorite humans who have ever enlarged our imagination:
(in no particular order, last date updated 5 March 2022)
Alexander F. Skutch – ornithologist and naturalist
Hannah Arendt – chronicler of the human condition
Kalevi Kull – theoretical biologist/biosemiotician
Jakob von Uexküll – father of theoretical biology
Montaigne – pragmatist before his time
Richard Doyle – ecodelic philosopher
Susanna Hecht – terra preta documenter and forest theorizer
Peter Linebaugh – archivist of the commons
Lynn Margulis – symbiogenesis
Howard Thurman – mentor to both MLK and Gandhi
Jacques Ellul – futurist and systems thinker (critical esp. of technology)
Alexander Weygers – Dutch American deep ecologist and inventor of the UFO
Emil M. Cioran – eccentric poet philosopher
Martín Prechtel – wise storyteller of the heart and honey
One of my old colleagues, a lawyer at UCSF once said that the tobacco industry finds loopholes in the law and exploits them until someone closes them. And then moves onto the next one. Our new Open Access paper in Tobacco Control discusses some of these problems. https://tobaccocontrol.bmj.com/content/31/2/222
“Moving targets: how the rapidly changing tobacco and nicotine landscape creates advertising and promotion policy challenges,” led by UCSF Center for Tobacco Control Research and Education Director Pam Ling, discusses the rise of synthetic nicotine to evade regulations.
As cigarettes became déclassé in mature markets and volumes and revenue has dropped, the industry has swooped in just in time to rescue their profits with a potpourri of heated, electronic, and nicotine tobacco products. The strategy is hooking new recruits (kids).
“Make tobacco cool again” could be the industry’s slogan.
Think tobacco’s bad? We’ve got synthetic nicotine for ya! Think smoking will kill you? We’ve got heated tobacco products (with that familiar tobacco taste). Don’t like smoking? Try vaping, or nicotine salt pouches!
The hustle to make a deadly product blend in with the background of consumer items is not new for the tobacco industry, but their recent tactics are even beyond the pale for this morbid industry. Candy flavors and colors and add ons are meant to attract kids. Why do we allow this blatant predation? Because of the always delayed promise of helping inveterate smokers. We sacrifice reason to baby smokers who might switch to slightly less deadly products. Quixotically, the tobacco industry’s raison d’état is now to coddle addicted smokers, as their official party line, in order to cover up the fact that really they are much more interested in recruiting kids to continue their legacy of pollution of the environment and human health. The industry would be all too happy if smokers continued smoking conventional cigarettes, and children and young adults uninterested in smoking would think their new technologized gee-whiz products are cool and harmless – becoming lifelong ‘customers’ (addicts) in the process.
Building on our previous work, we write:
The use of the term ‘pharmaceutical grade’ nicotine to describe recently developed nicotine products and the acquisition of NRTs extends the tobacco industry’s embrace of pharmaceuticalisation —producing products that appear like medical therapeutics conferring perceptions of safety.”
We conclude: “Finally, as the industry continues to reinvent itself to stay in business, regulatory authorities mostly play ‘catch up’. Current strategies which give the industry ample time to market products while they are brought under regulatory frameworks are not helpful for public health.”