Monday, October 5, 2026

U.S. President Trump Pressures the G7 to Release Oil Reserves

Is democracy more susceptible to being run by large corporations or to mob-rule? I contend that the police and military power of the U.S. eviscerates the risk of a mob of people making much headway against a government. That same power can be used by American governments to enforce policies that are in the financial interests of companies. In fact, some retail companies hire weaponized police employees to enforce not only municipal law (against shoplifting), but also company policies, as if they constituted law and therefore legitimate a police response rather than action by a security guard. To be sure, even security guards act sometimes as if they were police officers, and too many consumers fall for the presumptive ploy to intimidate. Security-guard companies even uniform their respective employees to look like police, even SWAT, officers, as if impersonating a police officer were not a crime. In terms of the American political economy, elected representatives of the American governments looked the other way in whether to invoke anti-trust law to break up large American companies even as gasoline and food prices soared—in the case of food, from 2020 when the pandemic enabled grocery stores to price-gouge, and in the case of gasoline, especially in 2026 when Iran was choking off the Strait of Hormuz. Those representatives as well as the media companies were silent on not only the need for market competition in consolidated industries, but also the excessive power of large corporations—even multi-national corporations, which are not loyal to any country—over elected representatives and their respective appointees. In too many cases, the companies being regulated actually write the law for Congressional committees—an obvious conflict of interest. Meanwhile, the American voters are typically titillated by superficial matters, essentially tricked, as if being oriented to symptoms were crucial to voting. The tricks can include ploys even by a sitting U.S. president to make the economy look better just before an election.


The full essay is at "U.S. President Trump Pressures the G7."