Thread by @stacyfmitchell

1. I finally read this insightful and startling piece from @matthewstoller and Lucas Kunce about how the dismantling & offshoring of our industrial capacity by Wall Street is a major threat to national security, in @amconmag.

theamericanconservative.com/articles/ameri…

@matthewstoller @amconmag 2. It’s about the defense industrial base. How Wall Street sold our tech prowess & ability to make critical hardware to China. Today the military depends on precarious, monopolized sources of supply, all controlled by China.

This is so stupid it’s hard to believe.

@matthewstoller @amconmag 3. It’s worth pausing to note that back in the 1990s & 2000s, as our industrial base was being consolidated and shipped overseas, lots of ordinary Americas were saying that not being able to make things seemed like a really bad idea. They were right.

@matthewstoller @amconmag 4. But the elites just wagged their fingers. No, no, you rubes clinging to your jobs. You don’t understand economics. Efficiency, comparative advantage. Blah, blah.

@matthewstoller @amconmag 5/5. The piece has lots of broader insights beyond military production. For one, look at any screwed up thing in our economy and start pulling on the string… you always end up at Wall Street.

Checking the power of financiers is a top priority.

theamericanconservative.com/articles/ameri…