Money has always been part and parcel of war, but did you ever think “a sitting US president would time announcements about major military operations in order to manipulate the stock market”? Such is our new military-industrial landscape, writes Shana Marshall. Private capital, Marshall contends, is more vital than ever to our current defense contracting, too. Luckily for Pete Hegseth, there are only more and more ways to make money and an abundance of wars to spend it on.
And it’s not just the military. We’re in an extreme moment of financialization and prediction marketification of everything. According to David Moore, “The over $321 million raised this [political campaign] cycle,” across “14 federal and state super PACs,” are “bankrolled by AI and crypto companies.” This is happening on both sides of the aisle, and that astronomical amount doesn’t even fully account for all the money the AI industry and its tech oligarch overlords have still promised to pledge.
Meanwhile, the government has a new bank account of its own. As Elie Mystal explains, the DOJ recently announced that it is making “a nearly $1.8 billion slush fund to compensate Trump supporters who have been ‘mistreated’ by previous Democratic administrations.” And the kicker? Our tax dollars are paying for it!