{"id":30386,"date":"2025-10-05T20:18:58","date_gmt":"2025-10-05T18:18:58","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=30386"},"modified":"2025-10-05T20:18:58","modified_gmt":"2025-10-05T18:18:58","slug":"big-tech-capitalism","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/brutal-capitalism\/big-tech-capitalism","title":{"rendered":"Dystopian Horizon: The Great Schism"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"30384\" data-permalink=\"https:\/\/michelsanti.fr\/en\/brutal-capitalism\/big-tech-capitalism\/attachment\/la-grande-divergence-2\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?fit=1900%2C1066&amp;ssl=1\" data-orig-size=\"1900,1066\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"la grande divergence\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?fit=1024%2C575&amp;ssl=1\" class=\"alignnone size-full wp-image-30384\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=1170%2C656&#038;ssl=1\" alt=\"\" width=\"1170\" height=\"656\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?w=1900&amp;ssl=1 1900w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=300%2C168&amp;ssl=1 300w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=1024%2C575&amp;ssl=1 1024w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=768%2C431&amp;ssl=1 768w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=1536%2C862&amp;ssl=1 1536w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=1140%2C641&amp;ssl=1 1140w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/10\/la-grande-divergence.jpg?resize=1200%2C673&amp;ssl=1 1200w\" sizes=\"(max-width: 1170px) 100vw, 1170px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><b>The 2020 crisis, fueled by monetary stimulus, has transformed capitalism. Efficiency and Artificial Intelligence have become Wall Street\u2019s sole imperatives, carving out a historic gap between the euphoric markets and the labor force. This divide between the Stock Market and the Street is more than just economic\u2014it is a civilizational warning.<\/b><\/p>\n<hr \/>\n<h2>The Wealth of Extraction<\/h2>\n<p>A tiny minority is <b>drunk on records<\/b> while the streets suffocate. This <b>victory<\/b> is <b>illusory<\/b>: it relies not on <b>creation<\/b>, but on the <b>capturing of value<\/b>; it is based no longer on <b>work<\/b>, but on the <b>extraction<\/b> of margins.<\/p>\n<p>Faced with an aggravated unemployment rate, big capital was initially seized by panic. But it very quickly <b>embraced<\/b> this underlying dichotomy starting in 2020, recovering thanks to <b>monetary stimuli<\/b> that flooded the system with liquidity. No one complained; we were all grateful for the determined and historic interventions by states and central banks. However, some took advantage of the situation to <b>force<\/b> the paradigm shift\u2014admittedly inevitable\u2014which could still have been channeled to prevent this huge and immoral gap. Because while the hundreds of billions poured out, the zero interest rates, and the asset purchases favored a massive return to liquidity, they failed to lead to a decent recovery of the job market.<\/p>\n<hr \/>\n<h2>Wall Street\u2019s Disinterest<\/h2>\n<p>Wall Street today shows an <b>unprecedented, total disregard for unemployment<\/b>, solely focused on efficiency. Companies have heavily invested in <b>Tech and automation<\/b>, giving up on returning to pre-pandemic hiring levels. Workers have been replaced by digital tools and <b>AI<\/b>. The result: productivity and, of course, <b>profit margins<\/b> have considerably improved.<\/p>\n<p>A handful of giants now leads the charge, enabling stock markets to break historical highs every week. The euphoria reigning over the markets is entirely indebted to <b>Big Tech<\/b>, which dominates as an absolute master, mechanically raising the capitalizations of traditional companies with it. Our current macroeconomic context is at a stage never before experienced: we officially and openly depend on a few companies that\u2014along with their satellites\u2014condition the entire spectrum, propelling stock markets to stratospheric levels.<\/p>\n<hr \/>\n<h2>The Profitability of Exclusion<\/h2>\n<p>Markets are no longer sensitive to fundamentals. In fact, they <b>rejoice in worsening unemployment rates<\/b>, as these are synonymous with increased productivity, and therefore higher profits. Capital flows now matter far more than employment, inducing a worrying and historic <b>disconnection<\/b>: companies are called upon to produce more, to do more, but with less. Stock market surges follow one another, records are shattered week after week, while only scraps affect the labor market, light years away from the routine of the stock market giants indulging in share buybacks and managing their abundant cash reserves.<\/p>\n<p>Wall Street and Main Street live in <b>parallel universes<\/b>. How much longer can this accumulation of profit and capital remain isolated from traditional production? By its magnitude, this fracture is a <b>major warning<\/b>. We are at a turning point, and this imbalance is, in the very short term, <b>unsustainable<\/b>. When profitability feeds on exclusion, it\u2019s no longer possible to speak of an economy: it is a <b>civilizational schism<\/b>. The &#8220;Inevitable Revolution&#8221; is about to collide head-on with imminent unsustainability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The 2020 crisis, fueled by monetary stimulus, has transformed capitalism. Efficiency and Artificial Intelligence have become Wall Street\u2019s sole imperatives, carving out a historic gap between the euphoric markets and the labor force. This divide between the Stock Market and the Street is more than just economic\u2014it is a civilizational warning. The Wealth of&hellip;<\/p>\n","protected":false},"author":4,"featured_media":30384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[648942773,648942930,648942953,648941294],"tags":[],"class_list":["post-30386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brutal-capitalism","category-financial-erepression","category-financialisation","category-neoliberalism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dystopian Horizon: The Great Schism - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/brutal-capitalism\/big-tech-capitalism\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dystopian Horizon: The Great Schism - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"&nbsp; The 2020 crisis, fueled by monetary stimulus, has transformed capitalism. Efficiency and Artificial Intelligence have become Wall Street\u2019s sole imperatives, carving out a historic gap between the euphoric markets and the labor force. This divide between the Stock Market and the Street is more than just economic\u2014it is a civilizational warning. 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How do cracks appear and why do bubbles implode? It is always for a simple and unique reason, which is that irrational and outlandish bets undertaken by the world of finance are done so with borrowed money! In this regard, the\u2026","rel":"","context":"In &quot;capitalism&quot;","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/ss-subprime.jpg?fit=792%2C612&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/ss-subprime.jpg?fit=792%2C612&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/ss-subprime.jpg?fit=792%2C612&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/ss-subprime.jpg?fit=792%2C612&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13703,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/somethings-got-to-give","url_meta":{"origin":30386,"position":1},"title":"Something\u2019s got to give","author":"Michel Santi","date":"April 21, 2016","format":false,"excerpt":"The secular stagnation that is infecting our economies brings with it the germs of instability and financial torment. Since interest rates and monetary creation are the only weapons still at the disposal of the only public institutions that still wield some sort of power in our modern world, their initiation\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13793,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/finance-and-stock-markets-more-and-more-higher-and-higher","url_meta":{"origin":30386,"position":2},"title":"Finance and stock markets: more and more, higher and higher!","author":"Michel Santi","date":"March 1, 2018","format":false,"excerpt":"Is the Federal Reserve kick-starting a cycle of interest rate hikes? Are the European Central Bank and Bank of Japan - also - imminently about to announce the end of their monetary creation? Never you mind, because no one will mention that the euphoria of financial markets and irrational stock\u2026","rel":"","context":"In &quot;capitalism&quot;","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22483,"url":"https:\/\/michelsanti.fr\/en\/turkish-lira\/turkey-autopsy-of-a-debacle","url_meta":{"origin":30386,"position":3},"title":"Turkey: autopsy of a debacle","author":"Michel Santi","date":"May 30, 2022","format":false,"excerpt":"\u00a0 This country got lost in grandiose real estate projects that have turned out to be barely profitable. Instead of progressing from its economy\u2019s developmental stage by prioritising and banking on the traditional path\u2013 which is also enticing for foreign investors \u2013, a path that is characterised by gradual industrialisation,\u2026","rel":"","context":"In &quot;Turkish hyperinflation&quot;","block_context":{"text":"Turkish hyperinflation","link":"https:\/\/michelsanti.fr\/en\/category\/turkish-hyperinflation"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2022\/05\/turque-lirvre.jpg?fit=1200%2C801&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":13657,"url":"https:\/\/michelsanti.fr\/en\/central-banks\/you-dont-know-it-but-youre-doing-very-well","url_meta":{"origin":30386,"position":4},"title":"You don\u2019t know it but you\u2019re doing very well !","author":"Michel Santi","date":"November 25, 2015","format":false,"excerpt":"The Venezuelan stock market has rocketed up by 200% this year and finds itself sitting atop global stock markets in terms of this exceptional performance. Is this to say that Venezuela is enjoying exceptional growth and that its positive repercussions are being felt by its people? Far from it in\u2026","rel":"","context":"In &quot;capitalism&quot;","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31145,"url":"https:\/\/michelsanti.fr\/en\/monetary-policy\/central-banks","url_meta":{"origin":30386,"position":5},"title":"The Political Cost of Free Money","author":"Michel Santi","date":"February 20, 2026","format":false,"excerpt":"Over the past three years, major central banks have accumulated losses stemming from their unconventional monetary policies. While these losses do not threaten their solvency, they reveal a deeper transformation: the end of the illusion of neutral and invisible monetary technocracy, and the return of money as a fully political\u2026","rel":"","context":"In &quot;central bank independance&quot;","block_context":{"text":"central bank independance","link":"https:\/\/michelsanti.fr\/en\/category\/central-bank-independance"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/02\/chateau-de-billets.jpg?fit=800%2C582&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/02\/chateau-de-billets.jpg?fit=800%2C582&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/02\/chateau-de-billets.jpg?fit=800%2C582&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2026\/02\/chateau-de-billets.jpg?fit=800%2C582&ssl=1&resize=700%2C400 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=30386"}],"version-history":[{"count":2,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30386\/revisions"}],"predecessor-version":[{"id":30388,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/30386\/revisions\/30388"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/30384"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=30386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=30386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=30386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}