You're Probably Getting Screwed

By the Farm Bill...

Welcome to You’re Probably Getting Screwed, a weekly newsletter and video series from J.D. Scholten and Justin Stofferahn about the Second Gilded Age and the ways economic concentration is putting politics and profits over working people.

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Did you know that the average distance a piece of produce in your grocery store (whether it’s organic or not) travels 1500 miles? 

Sonny Perdue, the Secretary of Agriculture under Trump, said “In America, the big get bigger and the small get out.” 

What does that mean to us? 

That means we’re becoming more concentrated in nearly every sector of agriculture. Be sure to check out Farm Action’s report on “Agricultural System Concentration Data.”

That means the food we eat is traveling further and we’re becoming less healthy.

That means that this apple from Wenatchee, WA traveled 1,450 miles to my grocery store in Sioux City and probably sat in cold storage for about a year.

As farms get bigger, they’re becoming less diverse. 

When you think of Iowa, you probably think of corn and agriculture. But did you know that 90% of the food Iowans eat is imported?

All of this can be changed and we can create regional food systems. But we need Congress to step up. The last Farm Bill was from 2018 and it expired in September of last year…

For healthier, tastier food, we need a Farm Bill to invest in decentralizing our food system and create regional food systems. 

And let’s get “Get big or get off the farm” policies a thing of the past. 

*** Also, I apologize for getting the newsletter out late this week but I had a good reason (read here).

YOU’RE PROBABLY (ALSO) GETTING SCREWED BY:

PBMs

Frequent readers of the newsletter already know that pharmacy benefit managers are monopolist middleman that are driving up the cost of medicine and squeezing local pharmacies, but there is a growing bipartisan consensus that PBMs need to be reigned in. 

Greedflation

A new global study of businesses finds that the largest companies in the world have been gouging us for years, but were the main drivers of the record inflation we’ve faced recently. 

Crypto

The proponents of cryptocurrency have often framed it as a libertarian dream free from government interference but now some of its most prominent backers, including Republican Senator Cynthia Lummis, want Uncle Sam to buy a ton of crypto. 

Junk Fees

The headline says it all: “Junk fees are stealing your kid’s lunch money.” 

 

UnitedHealthCare 

Some 30,000 seniors will have to change medical providers or pick a different insurance plan after HealthPartners decided to drop UnitedHealthcare’s Medicare Advantage Plan because United has been denying insurance claims at an extraordinary rate. 

Data Centers

One of the newest forms of corporate welfare is for data centers owned primarily by Big Tech firms and now those firms are threatening the clean energy transition. In one county Washington they might be faced with the decision to “violate a state green energy law limiting the use of fossil fuels or risk rolling blackouts in homes, factories and hospitals.”

Monopolies

Breaking up companies is often treated as some radical and impossible thing to do, but a new report from the Balanced Economy Project shows we have done it before, we can do it again.  

Some Good News

Veepstakes & Corporate Power

Here at YPGS we are big fans of state officials that take on monopoly power, which is why it was interesting to see a summary on “Where the Potential Democratic Vice Presidential Candidates Stand on Corporate Power.” 

State & Federal Antimonopoly Action

Speaking of state officials, Colorado Attorney General Phil Weiser joined FTC Chair Lina Khan in a recent listening session to talk about how to crack down on corporate landlords. 

DC AG on a roll

Washington DC Attorney General Brian Schwalb has been on a roll this week. First he secured a $3.75 million settlement with a construction firm for misclassifying workers that called out misclassification as an unfair method of competition. Then he sued Stubhub for inflating ticket prices with deceptive fees. 

SF Bans Rental Price-Fixing

SOME COOL STUFF

I recently went on the “Pablo Torre Finds Out” podcast to discuss my baseball career and why I am an antimonopolist. It was a fun way to combine my two passions so please give it a watch. 

 

BEFORE YOU GO

Before you go, I need two things from you: 1) if you like something, please share it on social media or the next time you have coffee with a friend. 2) Ideas, if you have any ideas for future newsletter content please comment below. Thank you.

Standing Tall for All, 

J.D. Scholten