Armstrong Economics Blog/Politics
Re-Posted Jul 29, 2020 by Martin Armstrong
The high Tech leaders are to testify before Congressional House antitrust investigation into the market power of major tech companies. This will in Jeff Bezos, the world’s richest person, Apple, Google, and Facebook. The House Judiciary Committee has been pushing for them to return to testify in front of its investigation into antitrust. Facebook CEO Mark Zuckerberg has been reportedly more aggressive against the antitrust investigation. The pressure against the influence of high tech has been growing. It should be very interesting to watch today. The Onion put out a piece that is more of a satire on Zuckerberg which claimed that the US government should be broken up. To a large extent, some of the comments that the government has gone too far is not so off base. But it would be insane if he thought he could stand against the government.
My warning to Zuckerberg is he better count his fingers after shaking hands with the Democrats if they promise not to break up Facebook in return for his support to seize the White House in November. We live in very interesting times.