Look Who’s Profiting from COVID

Is it a conspiracy? Sort of. I am hardly anything close to being a tycoon, but I do have money in some mutual funds. The one doing far and away the best invests in tech stocks. Lisa V makes me feel a bit guilty about having money in this fund, but I am opposed to the lockdown.

Lisa V has written a good post! However, it is worth pointing out that our response to COVID19 has benefited big business in general, not just provided a bonanza for Big Tech. Almost all the big businesses have the political clout to stay open.

The issue is Crony Capitalism. Big business is destroying its smaller competitors and blaming COVID19 and fearful people. Meanwhile, Socialist politicians are trying to impoverish and make dependent the ordinary citizens who like running their own lives.

Are people dying from COVID19? Is it unsympathetic to condemn the lockdown? No. As Lisa V points out the lockdown is doing an awful amount of harm.

Write Side of the Road

When this who COVID mess started, I joked that it was designed by MicroSoft. I mean, suddenly, we’re ALL stuck at home, communicating through chat and email and whoever owns Zoom has got to be a zillionaire by now. But I may not have been too far off.

While the rest of us “little guys” are losing our jobs and aren’t sure where any “extra” money for Christmas is going to come from, guess who isn’t worried? Our Government Officials and Big Tech, that’s who!

The chart below shows Big Tech Profits for the first nine months of COVID compared to those of 2019. No Wonder they aren’t worried. http://Infographic: Tech Giants Shrug Off COVID-19 Crisis | Statista You will find more infographics at Statista

In contrast, as much as 61% of small businesses, especially in food service, have permanently closed. They aren’t coming back. Those people have lost the ability to support their families unless they can…

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