Republicans are a pretty pathetic lot. They are always yapping about the socialist dangers posed by the Dem spenders, but actually wouldn’t recognize actual socialism if it whacked them across the forehead.
That is to say, in recent days they have been hooping and hollering in favor of Washington’s Sanctions War on Russia, but that’s about as pure a case of socialism as can be imagined. In essence, economic sanctions assume that the state is entitled to expropriate and destroy economic value owned by any business which had been doing good faith trading or financial transactions with sanctioned Russian entities.
Sure the big cap Fortune 500 and Silicon Valley giants can virtue signal about closing operations in Russia owing to the sanctions or just purported patriotic duty. But that’s phony because most of these corporate giants are vastly overvalued on the stock market owing to the Fed’s reckless money-printing, and therefore believe they can take a multi-billion value hit with impunity.
Needless to say, the C-suites that rationalize this government ordered or induced theft of property are in for a considerable surprise not too far down the road when the stock market finally collapses. That is, economic value destruction and asset-impairment is just that whether it is immediately reflected in stock market capitalizations or not.
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