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Rentier capitalism at its exercise
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James Christophers
2021-04-23 00:30:45 UTC
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"Global capitalism operates on the basis of rigged markets, not free markets."

Mmmm...let's see...

https://www.theguardian.com/commentisfree/2021/apr/22/esl-european-super-league-global-capitalism-football-tech-giants

(ESL = European Super League)

The UK clubs involved in the money-grab have been given the red card and kicked off the field of play by their own loyal-beyond-imagining fan base. Result? The 100% élitist ESL is as dead as a doornail. The EFL has redeemed itself and the club teams previously party to the ESL's scheming now return to the field of play suitably chastened. Salutary lessons have been learned all round and the game will resume as normal. Summed up here:

https://www.skysports.com/watch/video/sports/12281730/souness-hopefully-this-is-the-end

So with that shoddy little money-grab débâcle still resounding round global football, we now turn to New Zealand and its core cultural raison d'être. Who and what is it? See here, then take an educated guess:

https://www.google.com/search?client=firefox-b-d&q=All+Black%27s+official+shirt

A Californian Insurance oufit...?

But wait, dear reader, there's more. Much, much more:

"Our game is in trouble -- players aren't playing, clubs are dying around the country." (John Kirwan, Newstalk ZB)

In their desperate last-straw clutch, New Zealand Rugby's top smells are now pressing their fey blandishments not only on a certain Silver Lake Investments of New York but also, if you please, on their own players:

https://www.espn.com/rugby/story/_/id/31162390/new-zealand-rugby-push-private-equity-all-blacks-concerns

Silver Lake investments is a NZ$107billion private equity company Based in New York. Its business dealings include good ol' asset-stripping as a key pillar of its core ethos and strategies.

In word and deed, just another a giant-squid partnership of classic rentier capitalists at their exercise.

Caveat venditor.
JohnO
2021-04-23 00:40:21 UTC
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Post by James Christophers
"Global capitalism operates on the basis of rigged markets, not free markets."
Mmmm...let's see...
https://www.theguardian.com/commentisfree/2021/apr/22/esl-european-super-league-global-capitalism-football-tech-giants
(ESL = European Super League)
https://www.skysports.com/watch/video/sports/12281730/souness-hopefully-this-is-the-end
https://www.google.com/search?client=firefox-b-d&q=All+Black%27s+official+shirt
A Californian Insurance oufit...?
"Our game is in trouble -- players aren't playing, clubs are dying around the country." (John Kirwan, Newstalk ZB)
https://www.espn.com/rugby/story/_/id/31162390/new-zealand-rugby-push-private-equity-all-blacks-concerns
Silver Lake investments is a NZ$107billion private equity company Based in New York. Its business dealings include good ol' asset-stripping as a key pillar of its core ethos and strategies.
In word and deed, just another a giant-squid partnership of classic rentier capitalists at their exercise.
Caveat venditor.
That these clubs subsequently bowed to the will of the fans proves that free market capitalism works in favour of all market participants, not just the owners. It does require light regulation to prohibit cartel behaviour (which is anathema to free markets)
James Christophers
2021-04-23 02:04:22 UTC
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Post by James Christophers
"Global capitalism operates on the basis of rigged markets, not free markets."
Mmmm...let's see...
https://www.theguardian.com/commentisfree/2021/apr/22/esl-european-super-league-global-capitalism-football-tech-giants
(ESL = European Super League)
https://www.skysports.com/watch/video/sports/12281730/souness-hopefully-this-is-the-end
https://www.google.com/search?client=firefox-b-d&q=All+Black%27s+official+shirt
A Californian Insurance oufit...?
"Our game is in trouble -- players aren't playing, clubs are dying around the country." (John Kirwan, Newstalk ZB)
https://www.espn.com/rugby/story/_/id/31162390/new-zealand-rugby-push-private-equity-all-blacks-concerns
Silver Lake investments is a NZ$107billion private equity company Based in New York. Its business dealings include good ol' asset-stripping as a key pillar of its core ethos and strategies.
In word and deed, just another a giant-squid partnership of classic rentier capitalists at their exercise.
Caveat venditor.
That these clubs subsequently bowed to the will of the fans proves that free market capitalism works in favour of all market participants, not just > the owners. It does require light regulation to prohibit cartel behaviour (which is anathema to free markets)
But as the writer says, rentier capitalism may well claim to embrace competition, "but it does everything it can to avoid it".

Further into the piece we are reminded that, at its core, the clubs had committed the cardinal sin of compromising their brand which today still crucially depends on their c150-year history of dedicated working-class loyalties without which they could never have come into being in the first place, let alone survive.[1] The very essence of it expressed in just three words, seen in a news clip showing a club devotee holding up a large board:

"Fans not Customers".

"Caveat venditor" refers to the last-hope selling of souls to single-purpose predators with all the moral rectitude and cultural values of the angler fish.

[1] I well recall Brian Clough (1935-2004). A doughty Yorkshireman known throughout the world of football, not only for his abilities as both a player and manager, but also for his often outspoken and eccentric behaviour. With not a hint of corporatist thinking in or about him, he did more for British soccer than he has ever been given credit for.
James Christophers
2021-05-05 01:50:09 UTC
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Post by James Christophers
Post by James Christophers
"Global capitalism operates on the basis of rigged markets, not free markets."
Mmmm...let's see...
https://www.theguardian.com/commentisfree/2021/apr/22/esl-european-super-league-global-capitalism-football-tech-giants
(ESL = European Super League)
https://www.skysports.com/watch/video/sports/12281730/souness-hopefully-this-is-the-end
https://www.google.com/search?client=firefox-b-d&q=All+Black%27s+official+shirt
A Californian Insurance oufit...?
"Our game is in trouble -- players aren't playing, clubs are dying around the country." (John Kirwan, Newstalk ZB)
https://www.espn.com/rugby/story/_/id/31162390/new-zealand-rugby-push-private-equity-all-blacks-concerns
Silver Lake investments is a NZ$107billion private equity company Based in New York. Its business dealings include good ol' asset-stripping as a key pillar of its core ethos and strategies.
In word and deed, just another a giant-squid partnership of classic rentier capitalists at their exercise.
Caveat venditor.
That these clubs subsequently bowed to the will of the fans proves that free market capitalism works in favour of all market participants, not just > the owners. It does require light regulation to prohibit cartel behaviour (which is anathema to free markets)
But as the writer says, rentier capitalism may well claim to embrace competition, "but it does everything it can to avoid it".
"Fans not Customers".
"Caveat venditor" refers to the last-hope selling of souls to single-purpose predators with all the moral rectitude and cultural values of the angler fish.
' “An increasing number of companies and economic sectors are under severe pressure.“Millions of jobs have been lost and thousands of businesses are at risk. This is a classic scenario where private equity can play a role.” (Deloitte) '

Thus the angler fish dangling its lure before its desperate, moribund prey.

"Sic transit gloria mundi"

https://www.theguardian.com/sport/2021/may/04/all-blacks-sale-could-prove-private-equity-intrusion-too-far-for-lovers-sport-rugby-union-new-zealand
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