From: a_cascadian <no_re...@yahoogroups.com>
Date: December 12, 2008 6:41:46 PM PST
To: cascadian_bioregional...@yahoogroups.com
Subject: [Cascadian_Bioregionalism] Wall Street's 'Disaster Capitalism
for Dummies'
Reply-To: cascadian_bioregional...@yahoogroups.com
Wall Street's 'Disaster Capitalism for Dummies'
14 reasons Main Street loses big while Wall Street sabotages democracy
By Paul B. Farrell, MarketWatch
RROYO GRANDE, Calif. (MarketWatch) -- Yes, we're dummies. You. Me. All
300 million of
us. Clueless. We should be ashamed. We're obsessed about the slogans
and rituals of
"democracy," distracted by the campaign, polls, debates, rhetoric,
half-truths and outright
lies. McCain? Obama? Sorry to pop your bubble folks, but it no longer
matters who's
president.
Why? The real "game changer" already happened. Democracy has been
replaced by Wall
Street's new "disaster capitalism." That's the big game-changer
historians will remember
about 2008, masterminded by Wall Street's ultimate "Trojan Horse,"
Hank Paulson.
Imagine: Greed, arrogance and incompetence create a massive bubble,
cost trillions, and
still Wall Street comes out smelling like roses, richer and more
powerful!
Yes, we're idiots: While distracted by the "illusion of democracy" in
the endless campaign,
Congress surrendered the powers we entrusted to it with very little
fight. Congress simply
handed over voting power and the keys to trillions in the Treasury to
Wall Street's new
"Disaster Capitalists" who now control "democracy."
Why did this happen? We're in denial, clueless wimps, that's why. We
let it happen. In one
generation America has been transformed from a democracy into a
strange new form of
government, "Disaster Capitalism." Here's how it happened:
Three decades of influence peddling in Washington has built an army of
42,000 special-
interest lobbyists representing corporations and the wealthy. Today
these lobbyists
manipulate America's 537 elected officials with massive campaign
contributions that fund
candidates who vote their agenda.
This historic buildup accelerated under Reaganomics and went into
hyperspeed under
Bushonomics, both totally committed to a new disaster capitalism run
privately by Wall
Street and Corporate America. No-bid contracts in wars and hurricanes.
A housing-credit
bubble -- while secretly planning for a meltdown.
Finally, the coup de grace: Along came the housing-credit crisis, as
planned. Press and
public saw a negative, a crisis. Disaster capitalists saw a huge
opportunity. Yes,
opportunity for big bucks and control of America. Millions of
homeowners and marginal
banks suffered huge losses. Taxpayers stuck with trillions in debt.
But giant banks emerge
intact, stronger, with virtual control over government and the power
to use taxpayers'
funds. They're laughing at us idiots!
Amazing isn't it, Wall Street's Disaster Capitalists screwed up,
likely planned or let happen
this meltdown and recession. Yet America's clueless taxpayers just
reward them by giving
the screw-ups massive bailouts, control over more than $2 trillion of
tax money, and the
power to clean up the mess they made. Oh yes, we are dummies!
This end game was planned for years in secret war rooms on Wall
Street, in Corporate
America, in Washington and the Forbes 400. Democracy is too
cumbersome. It had to be
marginalized for Disaster Capitalism to take over. Reagan, Bush and
Paulson were Wall
Street's "Trojan Horses."
Naomi Klein summarizes the game in "Shock Doctrine: the Rise of
Disaster Capitalism."
This "new economy" generates enormous profits feeding off other
peoples' misery: Wars,
terror attacks, natural catastrophes, poverty, trade sanctions,
subprime housing
meltdowns and all kinds of economic, financial and political
disasters. Natural (Katrina) or
manmade (Iraq), either way "disaster capitalism" creates fortunes.
So you, me and the other 300 million better get out of denial. America
is no longer a
democracy. Voting is irrelevant. Best case scenario: We're a
plutocracy, a government ruled
by the wealthy, the richest 1%, the Forbes 400, the influential
wealthy elite, while the other
99% are their "servants." Meanwhile, the inflation-adjusted income of
wage-earners has
declined for three decades.
Worst case scenario: America's no democracy and as a result of the
meltdown and the
surrender of our power to Wall Street's new Disaster Capitalism we are
morphing into what
one WWII dictator called "corporatism," a "merger of state and
corporate power," kind of
like what's going on now with Goldman Sachs' ex-boss as de facto
president.
Wolves in sheep's clothing
Yes, a strong charge. But like a lot of our readers, I don't like
what's happening to
America. I'm a patriot. I volunteered for the Marines. Served four
years. Volunteered for
Korea. I don't like how our freedoms, rights and value system are
being subverted in the
name of greed, arrogance, self-righteous intolerance and other false
gods.
We know for the last eight years disaster capitalists ignored obvious
warnings of a coming
meltdown. They apparently planned it. They road the bull, got very
rich. Now they have the
ultimate disaster capitalist weapons, trillions in tax money, virtual
control of government.
That's why I fear we're on the edge of a dangerous line between Wall
Street's version of
disaster capitalism and a toxic "merger of state and corporate power."
The wolf is in
sheep's clothing. Wall Street pretends we're a democracy. Yet America
more closely
resembles the kind of "corporatism" that Laurence W. Britt wrote about
five years ago in
Free Inquiry magazine.
We adapted his historical analysis of 14 key traits for today's
discussion. Notice how they
have a huge impact your investments and retirement:
1. Wall Street rich get first priority
Think "bailout." Wall Street's greedy con game spins out of control
globally. Millions of
homeowners misled, lose. Who gets hundreds of billions first? Wall
Street's con men.
2. National security obsession
Think of the expansion of executive powers in the name of national
security: Preemptive
wars, wiretapping private citizens, Gitmo, torture; driven by a dark
wealthy neocon elite.
3. Superpower with massive military
Think of our $3 trillion Iraq/Afghan War. Disaster capitalists love
the thrill of military
power. We outspend all nations, over half the federal budget to strut
before the world.
4. Extreme nationalism
Signs are everywhere: Flags, lapel pins, "support the troops" slogans,
all to get huge
military budgets passed. Challenge them and you're un-American and
unpatriotic.
5. Rally the masses by scapegoating enemies
Think "axis of evil," mushroom clouds, "Islamofascists," more
terrorist attacks on the
homeland. Propaganda creates "enemies" in the public's mind and
distracts from real
issues.
6. Corruption and cronyism
Think earmarks, no-bid defense contracts, paid mercenaries
outnumbering military in
Iraq, superlobbyist Jack Abramoff, biofuels, bridge to nowhere,
millions donated to
campaigns.
7. Obsession with crime
Think of prison-building as just another investment opportunity,
rather than focusing on
reforming our criminal justice system. Stoke irrational fear of
criminals and extremists.
8. Labor and low wages
Think corporate earnings versus the wages paid to workers. No
"trickling down," leaves
more for tricklers: Rich insiders, stockholders. Wages dropping as CEO
salaries skyrocket.
9. Contempt for human rights
Think of abuses of habeas corpus, loss of right to trial, bogus
charges, plus "demonizing"
the victims, all in the name of national defense and homeland security.
10. Mass media manipulation
Think of leaking false information, Joseph Wilson, Valerie Plame,
Scooter Libby, Colin
Powell's United Nation's testimony, Condoleezza Rice's mushroom
clouds, WMDs, all to
suppress the truth.
11. Obsession with sexism
Think of paternalism, antigays, antiabortion, subordinate women --
then codify the
system as the law of the land reinforcing a male-dominated society,
punish violators.
12. Disdain for intellectuals
Think of conservative intellectuals Francis Fukuyama and Bill Buckley.
Contrast them to
Sarah Palin and Joe Sixpack conservatism, Bush's funding cuts for arts
and science
education.
13. Religion in government
Think of all the faith-based programs versus antiscience in drug
approvals, creationism
vs. evolution, Ten Commandments enshrined in public buildings, public
money to
churches.
14. Fraudulent elections
Think of police and prosecutorial intimidation and threats to voters,
challenging minority
voters, ballots disappearing, party election officials committing
outright fraud.
Yes, officially America is still a democracy. We have enough signs and
rituals to support
that illusion. But the truth is America has become a plutocracy run by
and for the wealthy.
And since Wall Street's Disaster Capitalism coup de grace, we are
rapidly morphing into a
dangerous new government.
For more, read Britt's original article, then add comments here: Was
the meltdown planned
by Wall Street's Disaster Capitalists?
http://www.marketwatch.com/news/story/14-reasons-main-street-loses/story.aspx?
guid=%7BF63EC448-D9C1-4138-AC18-97BF0FE68EE3%7D&dist=TNMostRead
------------------------------------
Yahoo! Groups Links