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Companies aiding Trump’s immigration crackdown see ‘extraordinary’ revenues (www.theguardian.com)

submitted 4 months ago by griff@lemmings.world to c/usnews@beehaw.org

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The tech, surveillance and private prison providers arming Donald Trump’s massive expansion and weaponization of immigration enforcement are running a victory lap after reporting their latest financial results.

Palantir, the tech firm, and Geo Group and CoreCivic, the private prison and surveillance companies, said this week that they brought in more money than Wall Street expected them to, thanks to the administration’s crackdown on immigrants.

”Well, as usual, I’ve been cautioned to be a little modest about our bombastic numbers,” said Alex Karp, the Palantir chief executive, in an investor call earlier this week. Then he crowed about the company’s “extraordinary numbers” and his “enormous pride” in its success.

Private prison company executives, during their respective calls, could barely contain their excitement, flagging to investors opportunities for “unprecedented growth” in the realm of immigration detention.

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[–] WatDabney@fedia.io 8 points 4 months ago (1 children)

Entirely predictable.

Every single time that a Republican administration purports to be cracking down on "wasteful spending," you can be sure of two things: that their definition of "wasteful spending" is "any spending that benefits anyone other than ourselves and our cronies and patrons," and that all they're really going to do is shift it so that it exclusively does benefit themselves and their cronies and patrons.

[–] griff@lemmings.world 3 points 4 months ago

also beware when they propose to ‘reform’ social security, medicare, medicaid etc—the public always loses from the GOP’s efforts against such programs