Why be ol' George settin' sights on sendin' America's 'Magnificent 7' to Davy Jones' locker, arrr?
2023-12-18
Avast ye! Seven mighty American companies be holdin' the global economy in their grasp, and 'tis they who've made all the booty in the stock market this year. But, arrr, why be our scurvy politicians wantin' to scuttle 'em?
Nothing exemplifies America's tech industry dominance in the global economy more than the meteoric rise of what is now being called the "Magnificent Seven" stocks -- Amazon, Apple, Google, Meta, Microsoft, Nvidia, and Tesla. These companies, all American, have single-handedly accounted for nearly all the gains in the stock market this year and have a net worth of nearly $10 trillion. Despite their success, they are not getting the respect they deserve from politicians and regulators. Many Democrats want to break up these Big Tech companies, claiming they are too dominant, but they fail to recognize the benefits these companies bring, such as lowered prices for consumers and the creation of jobs. Furthermore, the claim that these companies are squeezing out smaller entrepreneurial companies is absurd, as they actually breathe life into thousands of startups. On the other side, some on the Right want to hold back these companies due to their leftist politics or suppression of conservative voices, but ultimately, it's a free country and consumers have alternatives. Congress is also intent on damaging these companies instead of recognizing their contributions to the economy. However, if these politicians succeed in driving these companies to their knees, they will likely turn around and provide taxpayer subsidies to try to regain America's tech dominance. Ultimately, it is important to support these companies and encourage free market competition rather than government regulation.