Critics Ask If Trump and Musk Are ‘Intentionally Crashing the Economy’

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Original article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Then President-elect Donald Trump and Elon Musk pose for a photo during the UFC 309 event at Madison Square Garden on November 16, 2024 in New York City. (Photo: Jeff Bottari/Zuffa LLC via Getty Images)

“If you think back at the last economic crashes… the rich were able to buy up assets on the cheap and emerged even wealthier and more powerful than before,” noted one progressive commentator.

Are U.S. President Donald Trump, top adviser Elon Musk, and allied oligarchs deliberately trying to tank the economy in order to line their own gilded pockets?

More and more observers from both sides of the political aisle are asking the question this week as the U.S. president implemented steep tariffs on some of the country’s biggest trade partners, threatened a global trade war, and is taking chainsaw to government spending and programs—policies that, while inflicting economic pain upon nearly everyone else, could dramatically boost their already stratospheric wealth.

Numerous observers have likened it to the ” disaster capitalism” examined in Naomi Klein’s seminal 2007 book, The Shock Doctrine: The Rise of Disaster Capitalism—politicians and plutocrats exploit the chaos of natural or human-caused crises to push through unpopular policies like privatization and deregulation that harm the masses while boosting the wealth and power of the ruling class.

Economic alarm bells were already ringing before Trump’s 25% tariffs on most products from Canada and Mexico and an additional 10% on China—for a total of 20%—took effect on Tuesday, prompting retaliatory measures and threats of more to come.

Then, during his rambling joint address to Congress on Tuesday night, Trump threatened to impose reciprocal tariffs on every nation on Earth starting April 2 (because he “didn’t want to be accused of April Fools’ Day”) if those countries did not lower barriers to trade with the United States.

New York Times economic policy reporters Alan Rappeport and Ana Swanson called Trump’s sweeping tariffs “one of the biggest gambles of his presidency,” and a move “that risks undermining the United States economy.”

But what if that’s the whole point?

“I’ve been entertaining this theory a little bit more lately, because [Trump’s] economic moves seem so stupid and terrible and counterproductive without thinking that he is intentionally trying to cause harm,” progressive political commentator Krystal Ball—who also has a degree in economics and is a certified public accountant— said Tuesday on the social media site X.

Ball cited an X post by Saikat Chakrabarti, a progressive Democrat running for Congresswoman Nancy Pelosi’s (D-Calif.) House seat who worked on Wall Street for six years and helped found the online payment processing company Stripe, in which he accused Trump of “manufacturing a recession.”

“But it makes sense when you realize his goal is to create something like Russia where the economy is run by a few oligarchs loyal to him,” Chakrabarti added. “Creating that state is hard in a large, dynamic, powerful economy with too many actors who can oppose him. So he’s accelerating concentrating money and power into the hands of his loyalists while he crashes the rest out.”

Responding to this, Ball asserted that “at this point, until proven otherwise, the primary actor in the government and the economy is actually Elon, so I think it makes sense to think of Elon’s incentives here and what he may actually want to accomplish.”

“If you think back at the last economic crashes—both in Covid and in the 2008 financial crash—while initially everyone suffered, including the rich, out of both, the rich were able to buy up assets on the cheap and emerged even wealthier and more powerful than before,” she noted.

“So in 2008, not only did they get their own custom bailout, but they were able to buy housing stock at absurdly low prices,” Ball recalled. “The rich got richer than ever, inequality skyrocketed, and the big banks got bigger than ever.”

“Same deal with the Covid-era recession,” she continued. “So, while again, everyone suffered initially, there was a huge bailout package which, yes, did benefit ordinary people, but if you look at who came out really on top… you could see people like Elon Musk, people like Jeff Bezos, people like Mark Zuckerberg getting far wealthier. Their net worths, which were already very high, skyrocketed beyond anyone’s wildest dreams.”

Indeed, as Common Dreams reported, 700 billionaires got $1.7 trillion richer during two years of pandemic. Between March 2020 and April 2022, Musk got 10 times richer, while Zuckerberg’s net worth more than tripled and Bezos’ grew by nearly $80 billion, according to Forbes.

“Here’s the other piece that’s worth thinking about as well,” Ball added. “Crash and crisis leads to governments and authoritarian leaders claiming more power for themselves. They can use the crisis and the emergency as a justification for taking on extraordinary powers and for taking extraordinary measures… measures that can be custom fit to primarily benefit oligarchs like Elon Musk.”

“So I don’t know guys, while we’re running around here going… ‘can’t they understand how this is going to be devastating for the economy,’ maybe they do understand,” she concluded, “and maybe that’s kind of the point.”

Original article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.

Would love the explainer on why they are pushing us into a (likely) recession

dizzy: While it is accepted that the filthy rich benefit from economic collapse I suspect that there might be a more deliberate action to benefit certain actors more directly.

I suggest that you compare to the experience of short-lived former Prime Minister Liz Truss in UK. She was also supported and followed the instruction of an established, influential think-tank. Powerful and wealthy Capitalists may have benefited directly from market reactions to their directed actions. I would look at hedge funds and similar actors associated with those respective think tanks. Is it the same actor dominating and directing both think-tanks? Was the Liz Truss experience an initial test run?

Continue ReadingCritics Ask If Trump and Musk Are ‘Intentionally Crashing the Economy’

Just 36 Companies Drove Half the World’s Climate-Altering Emissions in 2023: New Report

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Original article by Sharon Kelly republished from DeSmog.

Hurricane Harvey, downgraded to a tropical storm when it hit Vidor, Texas, flooded an Exxon gas station, Sept. 1, 2017. Credit: ©Julie Dermansky

Companies and states most responsible for climate change are also those working hardest to prevent climate action, new Carbon Majors report finds.

Half of the world’s carbon dioxide emissions in 2023 came from just three dozen companies, according to a new report released today by the Carbon Majors project, with the list dominated by coal, cement, and oil producers.

Saudi Arabia’s Saudi Aramco, the year’s worst offender, drove 4.4 percent of the world’s carbon dioxide pollution alone in 2023, the report found.

Five publicly-traded oil companies — ExxonMobil, Chevron, Shell, TotalEnergies, and BP — combined to produce an additional 4.9 percent of the year’s global carbon dioxide emissions from fossil fuels, the report adds.

The Carbon Majors database builds on the innovative work published by researcher Richard Heede of the Climate Accountability Institute (CAI) begun in 2013. For the first time, instead of attributing the build-up of industrial carbon dioxide and methane emissions to each of the world’s nations, Heede managed to trace those emissions to 90 specific “carbon major” companies. Last year, the nonprofit think tank InfluenceMap collaborated with CAI to produce major updates to the database — and today’s report marks the first annual update to that report, incorporating global data from 2023.

The year’s top carbon polluters were a mix of investor-owned and state-owned or national companies — but they have one thing in common.

“They’re some of the most obstructive actors towards climate policy,” Emmett Connaire, a senior analyst at the Carbon Majors project and one of the authors of the report, told DeSmog.

“I think it kind of kills the argument from industry that they’re not responsible for their CO2 emissions because we need fossil fuels to grow,” Connaire said, “when they’re the most obstructive and trying to keep up the demand for their products in the face of the overwhelming scientific opinion.” 

Eight of the nine public companies most responsible for carbon emissions in 2023 were “highly active or strategic” in their climate lobbying, the report notes. And their lobbying efforts took aim at regulating climate-altering pollution or sought to impede the energy transition.“ Of these 9 companies, 5 score a D or below, indicating unsupportive positions on climate policy,” the new report finds, citing data from InfluenceMap’s LobbyMap database, which grades companies based on their alignment with the Paris Agreement. “The remaining 4 score only slightly higher at C-.”

Top 10 investor-owned companies: LobbyMap engagement scores.
InfluenceMap gave climate policy lobbying scores to the top 10 investor-owned companies, all oil, gas, and coal firms. Credit: Carbon Majors 2025 report

None of the five top oil companies named in the report immediately responded to a request for comment from DeSmog.

Investor-owned companies aren’t the only ones actively fighting to prevent climate action, the Carbon Majors report notes.

“State-owned companies are even more oppositional to climate regulation globally according to LobbyMap research,” the report finds, listing Saudi Aramco, Russia’s Gazprom, Mexico’s Pemex, and China’s CHN Energy among the worst actors.

“The ‘Carbon Majors’ are keeping the world hooked on fossil fuels with no plans to slow production,” former United Nations climate chief and Paris Agreement architect Christiana Figueres said in a response accompanying the report. “While states drag their heels on their Paris Agreement commitments, state-owned companies are dominating global emissions — ignoring the desperate needs of their citizens.”

A sizable majority — 80 percent — of the year’s 20 worst offenders are state-owned, the report found.

The 2025 Carbon Majors report compared the total CO2 emissions and percentage of total emissions for the top 5 state-owned (Saudi Aramco, Coal India, CHN Energy, National Iranian Oil, Jinneng Group) and top 5 investor-owned (ExxonMobil, Chevron, Shell, TotalEnergies, BP) companies in 2023
State-owned fossil fuel companies dominated global climate emissions in 2023, compared to public companies, the Carbon Majors report noted. Credit: Carbon Majors report 2025

Throughout history, responsibility for driving climate change is concentrated among a strikingly small number of corporations, the report suggests.

Two-thirds of all fossil fuel and cement emissions worldwide from 1750 through 2023 can be traced to just 181 entities, the report finds, adding that one-third of emissions came from just 26 companies.

These findings may have significant legal consequences. During 2024, New York state and Vermont both enacted “Climate Superfund” laws that aim to hold fossil fuel producers and oil refiners responsible for the damage done by their climate-altering products — and the Carbon Majors database is a proposed tool to assess companies’ relative liabilities, according to InfluenceMap. Its earlier findings have been cited in civil lawsuits brought by U.S. cities and counties against fossil fuel producers and an inquiry in the Philippines (which has seen some of the strongest typhoons in recorded history) into corporate responsibility for human rights violations.

The report approaches companies’ contributions to climate change based on production data —  meaning that it focuses on the companies that do the drilling and mining (which helps avoid double-counting, Connaire told DeSmog). Those production figures are self-reported by companies but are widely used by governments to assess taxes and by investors in public companies. That methodology means that, for example, natural gas pipeline companies and natural gas utilities aren’t included in the report’s rankings. 

Nonetheless, natural gas producers figure among the report’s list of all-time top polluters. That includes the former Chesapeake Energy, which first rose to prominence — and some notoriety — during the shale gas fracking boom only to implode into bankruptcy in 2020. Chesapeake later emerged from bankruptcy and has since merged into the newly formed Expand Energy.

As the Carbon Majors database traces emissions throughout history, it accounts for the effects of mergers and acquisitions in the tumultuous oil industry, known for its booms and busts. “For example, the multiple smaller companies into which the Standard Oil Trust was broken up have evolved to become some of the most recognizable companies in the database today,” the report notes. “Some are direct descendants of Standard Oil, like ExxonMobil, with both Exxon and Mobil as descendants separately, and Chevron. Others have resulted from mergers with descendants of Standard Oil, such as BP and ConocoPhillips.”

Top 20 carbon majors entities by emissions, from 1854-2023: Former Soviet Union (1900-1991), China (Coal, 1945-2004), Saudi Aramco, Chevron, ExxonMobil, Gazprom, National Iranian Oil Company, BP, Shell, Coal India, Pemex, China (Cement), Poland (Coal, 1913-2001), CHN Energy, ConocoPhillips, British Coal Corporation (1947-1994), CNPC, Abu Dhabi National Oil Company (ADNOC), Peabody Energy, TotalEnergies
The Carbon Majors database traces the historical cumulative emissions of the top individual entities, such as Chevron or the former Soviet Union, from 1854 through 2023. Credit: Carbon Majors report 2025

It also calls attention to the importance of coal pollution — not just historically, but also in 2023.

“In 2023, coal remained the largest source of emissions, contributing 41.1 percent of emissions in the database,” the new report finds, “continuing a steady increase since 2016.”

Emissions from the cement industry — also a major driver of carbon pollution — increased significantly in 2023, rising 6.5 percent year-over-year, which the Carbon Majors report noted was “the largest relative rise” found. “Four of the five companies with the greatest relative increases in emissions in 2023 were cement companies — Holcim Group, Heidelberg Materials, UltraTech Cement, and CRH — with cement emissions seeing the largest relative rise among the four commodity types.”

Cement producers aren’t the only ones, however. In fact, emissions from most of the top emitters rose in 2023, the Carbon Majors report found. 

“It is truly alarming that the largest fossil fuel companies continue to increase their emissions in the face of worsening natural disasters caused by climate change, disregarding scientific evidence that these emissions are harming us all,” said Tzeporah Berman, founder of the Fossil Fuel Non-Proliferation Treaty Initiative. “It is clearer than ever that dirty private companies, driven by profits and business as usual, will never choose to self-regulate. Governments around the world must use their power to end fossil fuel expansion and transition their economies before fossil fuel companies destroy the planet.”

Original article by Sharon Kelly republished from DeSmog.

Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London.
Greenpeace activists display a billboard during a protest outside Shell headquarters on July 27, 2023 in London. (Photo: Handout/Chris J. Ratcliffe for Greenpeace via Getty Images)
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Continue ReadingJust 36 Companies Drove Half the World’s Climate-Altering Emissions in 2023: New Report

Rubio Touts Trump’s Steadfast Support for Israel as it Blocks Aid to Gaza

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Original article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

U.S. Secretary of State Marco Rubio (left) and Israeli Prime Minister Benjamin Netanyahu (right) greet each other during a joint press conference in Jerusalem on February 16, 2025. (Photo: Ohad Zwigenberg/Poll/AFP via Getty Images)

Israel is being investigated for alleged genocide at the International Court of Justice, and Israeli Prime Minister Benjamin Netanyahu is a fugitive from the International Criminal Court.

In a Tuesday phone call with Israeli Prime Minister Benjamin Netanyahu, U.S. Secretary of State Marco Rubio highlighted the Trump administration’s staunch support for Israel—which includes $4 billion in fresh fast-tracked military assistance—even as the key Mideast ally cuts off lifesaving humanitarian aid to Palestinians in the flattened Gaza Strip.

U.S. State Department spokesperson Tammy Bruce summarized Rubio’s call with the right-wing Israeli leader, who is wanted by the International Criminal Court (ICC) for alleged war crimes and crimes against humanity in Gaza:

Rubio spoke with… Netanyahu to underscore that the United States’ steadfast support for Israel is a top priority for President [Donald] Trump, as shown by the recent announcement to expedite the delivery of nearly $4 billion in military assistance to Israel. The secretary thanked the prime minister for his cooperation with Special Envoy Steve Witkoff to help free all remaining hostages and extend the cease-fire in Gaza. The secretary also conveyed that he anticipates close coordination in addressing the threats posed by Iran and pursuing opportunities for a stable region.

Rubio’s call with Netanyahu, which followed the Republican secretary of state’s visit to Israel last month, came just two days after Netanyahu’s government halted all humanitarian aid from entering Gaza. People there are reeling after 15 months of Israeli bombardment, invasion, and siege that have obliterated the coastal enclave, killing at least 48,405 Palestinians, wounding more than 111,000 others, and forcibly displacing, starving, or sickening nearly all of the strip’s approximately 2.3 million people, according to local and international agencies.

Netanyahu said the aid suspension was carried out “in full coordination with President Trump and his people.”

On Monday, Israeli Defense Minister Israel Katz threatened that “the gates of hell will be opened” on Gaza if Hamas, which rules the strip, does not free the dozens of Israeli and international hostages it kidnapped on October 7, 2023. Hamas has delayed their release due to what it claims are hundreds of Israeli violations of a January cease-fire agreement, including deadly attacks on civilians and the aid cutoff.

Katz, Netanyahu, and other Israeli leaders are among those named in an incitement to genocide complaint filed in January at the ICC by Israeli attorney Omer Shatz. Israel is also under investigation for alleged genocide at the International Court of Justice.

Bruce’s description of the Rubio-Netanyahu call does not mention the Palestinians or Gaza.

Last month, Trump proposed a U.S. invasion and takeover of Gaza, which would be ethnically cleansed of Palestinians and transformed into what the president described as “the Riviera of the Middle East.”

Original article by Brett Wilkins republished from Common Dreams under Creative Commons (CC BY-NC-ND 3.0). 

Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Continue ReadingRubio Touts Trump’s Steadfast Support for Israel as it Blocks Aid to Gaza

Only enough food supplies in Gaza for two weeks, says UN agency

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https://morningstaronline.co.uk/article/only-enough-food-supplies-gaza-two-weeks-says-un-agency

Trucks line up at the Egyptian side of the Rafah border crossing between Egypt and the Gaza Strip after Israel blocked the entry of aid trucks into Gaza, March 2, 2025

THE United Nations food agency only has enough supplies in the Gaza Strip to keep public kitchens and bakeries open for less than two weeks, the body said today.

Israel has imposed another blockade on Gaza to pressure Hamas into accepting an alternative ceasefire arrangement, six weeks into their fragile truce.

Israel allowed a surge of humanitarian aid during the first six weeks of the ceasefire. But the World Food Programme said on Wednesday that its stocks are low because it prioritised delivering food to the population.

The UN agency also warned that its fuel stocks would only last for a few weeks.

Palestinians said prices spiked as people rushed to markets to stock up on supplies after Israel announced the tightening of its blockade.

After more than 16 months of war, Gaza’s population is entirely dependent on deliveries of food and other aid. Most are displaced from their homes, and many need shelter.

https://morningstaronline.co.uk/article/only-enough-food-supplies-gaza-two-weeks-says-un-agency

Continue ReadingOnly enough food supplies in Gaza for two weeks, says UN agency

Lawsuit Aims to End ‘Cruel War on Our Environment’ by Trump and Musk

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Original article by Jessica Corbett republished from Common Dreams under  Creative Commons (CC BY-NC-ND 3.0).

Demonstrators hold signs after U.S. Sen. Edward Markey (D-Mass.) was blocked from entering the Environmental Protection Agency to meet with Department of Government Efficiency officials on February 6, 2025 in Washington, D.C. (Photo: Al Drago/Getty Images)

“Musk has shown that he can and will destroy a federal agency in a single weekend,” said one advocate. “If his deranged antics are allowed to continue, we might never be able to fix the damage to America’s environment.”

A leading conservation group filed suit Monday to stop U.S. President Donald Trump and billionaire Elon Musk from “gutting” over a dozen of the federal government’s environmental agencies and departments.

This isn’t the Center for Biological Diversity’s first lawsuit targeting Trump’s Musk-led Department of Government Efficiency, but it is the first lawsuit in the country “challenging DOGE’s efforts to eviscerate the agencies charged with protecting the environment, natural resources, and wildlife,” according to a statement from the group.

The suit names as defendants the Environmental Protection Agency and departments of Agriculture, Commerce, Interior, and Transportation, as well as several entities under them: the Animal and Plant Health Inspection Service, Bureau of Land Management, Bureau of Ocean Energy Management, Federal Aviation Administration, Fish and Wildlife Service, Forest Service, National Oceanic and Atmospheric Administration, and National Park Service.

“The world’s richest man has created an alternative power structure inside the federal government for the purpose of controlling spending and pushing out employees.”

“Elon Musk and his hacker minions are tearing apart the federal agencies that protect our public lands, keep our air and water clean, and conserve our most cherished wildlife. The public has every right to know why they’re waging this cruel war on our environment,” said Brett Hartl, the center’s government affairs director.

“Musk has shown that he can and will destroy a federal agency in a single weekend,” Hartl added. “If his deranged antics are allowed to continue, we might never be able to fix the damage to America’s environment.”

The suit alleges “a flagrant violation of the Federal Advisory Committee Act (FACA), which requires transparency, open public participation, and balanced representation when the president or executive branch agencies establish or use nonfederal bodies for the purpose of seeking advice or recommendations.”

Trump’s executive order establishing DOGE directs all agencies to form teams, or what FACA calls advisory committees, controlled by Musk. The complaint argues that “defendants have failed to ensure that the DOGE teams comply with the balance and openness requirements of FACA.”

“Mr. Musk and other billionaire and tech executives working with DOGE stand to benefit personally and financially from the DOGE teams’ work, including by securing government contracts, slashing environmental rules that apply to their companies, and reducing the government’s regulatory capacity and authority, including by targeting specific agencies, statutes, and spending decisions that affect their businesses,” the filing warns.

The complaint notes recent reporting that “Musk is using his influence over the DOGE teams to rapidly consolidate control over large swaths of the federal government, sideline career officials, gain access to sensitive databases, and dismantle agencies and regulatory systems.”

“Since President Trump assumed office—and without any congressional approval—the world’s richest man has created an alternative power structure inside the federal government for the purpose of controlling spending and pushing out employees,” the document adds. “Meanwhile, Musk has been named as a special government employee, which subjects him to less stringent rules on ethics and financial disclosures regarding his role overseeing DOGE and the DOGE teams.”

The new case calling on the court to require compliance with FACA comes after the center filed another federal suit in Washington, D.C. last Thursday with the aim of using the Freedom of Information Act to unveil details about what Hartl said “should be called the Department of Government Evisceration.”

It also follows U.S. Rep. Gerry Connolly (D-Va.), ranking member of the House Committee on Oversight and Government Reform, launching a probe last month into Musk’s official title. The congressman demanded answers from the White House by this coming Thursday.

Original article by Jessica Corbett republished from Common Dreams under  Creative Commons (CC BY-NC-ND 3.0).

Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Neo-Fascist Climate Science Denier Donald Trump says Burn, Baby, Burn.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
Continue ReadingLawsuit Aims to End ‘Cruel War on Our Environment’ by Trump and Musk