JPMorgan's 'America First' Fund: Putting Profit Before People?
JPMorgan's latest venture, a $1.5 trillion 'America First' fund, just made its inaugural investment backing a miner. The FT frames this as bolstering 'US security,' which, in corporate-speak, often translates to securing raw materials and maximizing shareholder value, not necessarily public welfare or environmental stability. One might wonder how digging up more resources for industrial
consumption truly secures America when climate change, exacerbated by such extraction, poses a far greater threat. This move conveniently aligns with the cozy relationship between industrial capital and national security narratives, where environmental destruction is an acceptable externality for 'critical minerals.' It's a familiar script: prioritize resource extraction, call it 'security,' and
watch the profits soar, regardless of the long-term planetary cost. The real security, it seems, is for those holding the mining permits and the investment portfolios.