Is the US experiencing a new Gilded Age? Voldemort’s role?

Is the US experiencing a new Gilded Age? Voldemort’s role?

By Thomas Spritzler Esq.

For our historically challenged readers, the Gilded Age started in the late 1870s (following the Civil War) and ran for approximately 30 years. The US experienced an industrial revolution with unparalleled economic growth. By almost every metric, the average American saw their lives improve. Real wages grew 60%. Cost of living (prices): clothing costs dropped 60%, fuel dropped 65%, home furnishings 70%. As for our economy, the output of grain increased by 250%. Manufacturing increased from $3 billion to $13 billion, and national wealth from $16 million to $88 billion.

A group of entrepreneurs was the driving force for this economic expansion, including JP Morgan, Rockefeller, Vanderbilt, and Carnegie. They amassed an unprecedented level of economic wealth and political influence. Rockefeller controlled 90% of America’s petroleum and pipelines. Vanderbilt 40% of US railroads, Carnegie 70% of the steel industry. Getting the picture?

For the first time in over 100 years, I suspect we’ve entered a new Gilded Age sparked by a data/AI revolution. Our new entrepreneurial chieftains include the leaders of Nvidia, Apple, Microsoft, Google, Elon Musk, Zuckerberg, and Bezos. Collectively, their companies own (by market cap) almost 40% of the S&P 500. I’d add to this list Larry Ellison and his son David, and the owners of Palantir (the leader in surveillance technology).

They also effectively own most social media outlets: Zuckerberg (Facebook, Instagram), Musk (X/formerly Twitter) & Ellison (TikTok). The Ellisons have recently purchased CBS and are acquiring Warner Bros.

This group of businessmen’s future relies on access to massive amounts of new electric generation capacity to power data centers, relaxed business/antitrust regulation, and a free hand in developing AI models without government intrusion.

BTW, at Trump’s inauguration, Tesla (Elon Musk), Meta (Mark Zuckerberg), Amazon (Jeff Bezos), Google/Alphabet (Sundar Pichai), and Apple (Tim Cook) were all seated prominently in the second row behind the First Family.

Why? Simply because they know that the progressive wing running the Democratic Party will not provide them the support for the above and Trump’s led GOP will. Their entire future relies on a Faustian deal with the Dark Lord.

BTW, the entire defense industry which amounts to approx. $1 trillion per year is similarly supportive of Voldemort as he ramps up spending in that area. So much for cutting government spending!

So are these guys going to take any chances during the mid-term elections? They will gladly contribute capital, intellectual talent and carefully crafted communication on their media channels to protect what’s “there’s”. At the same time, the Dems stand to lose at least 25 seats in the House from population shift to Southern states (recent census) and Gerrymandering.

So yes, I do expect Voldemort to maintain control of the House, bucking historical norms.