The horizon is not so far as we can see, but as far as we can imagine

Category: Class Warfare Page 27 of 36

The shiny

Some brief points, since apparently the shiny distracts people.

1) This is not the 60s and 70s. This is not then. Repeat after me, “this is not the 60s”. The US then was much richer and fundamentally much stronger and more prosperous. There were many complaints behind the Arab spring, but at bottom people were willing to put themselves on the line for one reason: food prices. Food prices for the laboring class.

2) When Americans can’t afford to eat, they’ll either starve or revolt.  And yes, you are going to get there.  Barring an unlikely turnaround of current long term trends, you will eventually be forced to choose: to live or die on your bellies, like worms; or to fight and in many cases, die, on your feet.

3) You’re not the only country in the world, and I am not writing just about or for you.

4) When you deny the legitimacy of people fighting for their rights, we’re not on the same side (that’s fine, just noting it).  That is true if you deny the rebels in India, the Palestinians, the Syrians or the Libyans.  Or Americans, for that matter.

5) Everything is about trade-offs.  People are dying right now because of the way the world and specific countries are being run.  People get distracted by explosions and words like violence, me, I look at the people dying for lack of health care, food and housing.  The people who commit suicide because of the financial downturn.  The wives and children being beaten because their husband or father cracked under financial stress that needn’t exist.  The trillions spent on bankers and wars which could have been used to make people lives better, healthier, and yes, save lives.  Westerners are already dying. You’re already dying. You’re already being killed. You or your friends or loved ones already don’t have jobs because of the oligarchy.  And you means Americans, Europeans, Arabs, Afghanis, and on and on.

Any moral calculus has to take into account the people already suffering, the people already dying.  Every year it goes on, the list of dead and walking wounded grows.  It is not a question of violence vs. non-violence.  The damage, the violence, is already being done.  And everyone who cries for incrementalism must understand that every year adds to the list.  “Try everything else first” condemns those people to die.  The longer we don’t fix our problems, don’t fix our elite, the more people die.  If 10X as many died in a revolution as the yearly burn rate (which is going up), would that be more than have died, will die, while we sit on our thumbs and rotate?

But my best guess is this.  The US will get a revolution, and it will come from the right.  I’m not even particularly concerned about it at this point.  The US is as close as a country gets to a write-off, because that’s what Americans want (for example, a majority not wanting to raise the debt ceiling) and a culture with majority approval for torture isn’t high on my triage list.  Sure, it’d be nice to save America, plenty of good Americans, but the culture is now beyond corrupt and into evil.  The question is whether everyone else goes down with America.  So far everyone else (except Iceland) seems to be chaining themselves to the Titanic.

So be it.  Plenty of folks knew WWII was coming and couldn’t stop it.  Sometimes what will be will just be, not because it couldn’t be stopped, but because people just refuse to do what it takes.  And there is nothing Westerners won’t do, no trouble or expense in blood or gold, to not solve a problem.

Strategies for Resistance and Change

There are multiple strategies for change in a corrupt and oligarchical society.  They aren’t all mutually exclusive.  Let’s run through some of them.

Showing Up and Playing Nice (aka. Demonstrations)

Demonstrations by themselves work when your lords and masters want them to.  In some time periods this is because your lords and masters have a moral system which allows them to feel shame.  Seeing demonstrators who believe in peace, or not being racist, or not ruling India for Britain’s benefit, triggers the morals they have, and they are moved.

In other time periods this is because they need the consent of the governed, and they know that the next step beyond demonstrations is something worse.  During the Great Depression there were occasions in which citizens took the police on, straight up.  Within living memory union members had fought the army straight up.  So when people started demonstrating in large numbers in the 60s, there were still people in power who remembered all that.  It didn’t make them give in, right away, but it did make them think.  At this point and time, no one in power in the US and much of the West, remembers the last time the population got uppity enough to go toe-to-toe with military or paramilitary forces.

Huge demonstrations could be, but haven’t been, as a rule, occasions to build real organizations.  When all those people show up, all their names should be being gathered, local lodges should be being created, and so on.  So far that hasn’t been done.  Why, I’m not entirely sure, but what I’ve seen is that the people who run the large national organizations like the national chapters of NARAL or NOW, for example, just want a mailing list, they don’t really want a lot of direct action.  They want to play the inside game, make deals and concessions, play like they’re Senators, not like outsiders.  They don’t want a vibrant organization full of motivated people who would call them on their sellouts, who would make them fight their friends in DC.

Remember, though, that demonstrations as just showing up, only work if the oligarchy wants it to.  If the teabaggers show up with a couple hundred people, that will get media coverage, because the oligarchy found them useful.  If anti-war protesters show up in the hundreds of thousands, yawn.  No media coverage for you.  Not only do you not get through to your lords and masters, you don’t even let the rest of the population know what’s going on.

Showing up and shutting things down

The next step up.  This is what the French unions often do.  Get the truckers involved, pull the trucks up, and shut the roads down.  Go to a refinery, in large numbers (not a couple dozen) and occupy it.  Don’t move voluntarily.  If the cops want to move you, make them do it the hard way.  (I leave the definition of hard way to each organizing group’s own conscience.)  Shut down commerce.  Shut down key facilities which are worth a lot of money to the oligarchy.  Don’t let anything move.  Cost them money.  Force the police to choose sides.  They won’t always choose yours, but sometimes they will.

This method applies costs to the oligarchy.  It changes their cost/benefit analysis.  And since cost/benefit is how the oligarchy has been trained to think, it can have some effect.  This method works best if you can get the blue collars on your side, in particular the folks who regularly use big equipment.  Miners, construction workers, truckers, and so on.  In Europe these people tend to be left wing, in the US they have been co-opted, an this is one reason why your lords and masters don’t care what you think, because you don’t have the big iron backing you up.  (A main battle tank can be taken on by the right construction equipment used in the right way.  The US army knows this.)

Rioting

Of course I would never write that I think anyone should riot.  However, as a practical matter, sometimes people do, for example the Greeks, right now.  Maybe you don’t want to be impoverished for the rest of your life to pay off rich oligarchs who don’t pay taxes for a crisis they deliberately created so they could buy up state assets at cents on a dollar.  You’ve decided to fight, and not lay down.  Ok then.

So if you’re going to riot, let’s talk about how you do it.  First, don’t riot in your own fucking neighbourhood.  The oligarchy doesn’t care if you destroy your own assets, or if you fight the police where members of the oligarchy aren’t.  Cops are members of the servant class, the oligarchy doesn’t give one damn if a few of them get messed up, that’s what they’re there for.  If you are going to riot, go to where the oligarchs live.  March on their neighbourhoods, and fight the cops on the way there, or once you get there.  If the cops don’t fight you on the way there, feel free to set up your trucks and completely shut down the entire district so no one can get through.  Remember, while I would never tell anyone to be violent, if for your own reasons you’ve decided, like America’s founders, that you’ve had it up to here, and aren’t taking it anymore, do it where it matters.  Productive assets owned by the oligarchs are also good.  Or how about their yacht clubs.  Use your imagination.

Note also that Malcolm X makes Martin Luther King possible.  Everyone doesn’t have to have the strategy, what they must not do is what Arundhati Roy refused to do, they must not condemn others on the same side.

Shunning and Shaming

Simple shunning and shaming works great and doesn’t need to involve any violence.  Find out the schedule of every member of government, every oligarch and every senior bureaucrat who thinks the best way to deal with a crisis is to screw ordinary people and show up everywhere they do.  Heckle them, surround the building they are in.  When they come out, scream at them.  Make their daily lives miserable.  Make it so they can’t go anywhere without a police escort.  No violence necessary.  Just get in their faces and let them know what you think of their policies.  Ben Nelson being booed at a pizza parlor, a minor example, shook him up to no end.  Don’t do business with them.  Don’t shake their hands if you run into them.  Make it clear that most of the population considers them a moral leper.

The Difference Between Violence and a Willingness To Die

Two different things.  If you are a non-violent protester who wishes to have full effect, you must, at the least, be willing to be beaten, and to die.  The protesters in Egypt were willing to die.   To the extent they succeeded (and that extent is not yet known, since getting rid of Mubarak may not change much that matters) it was when they made the army choose between shooting them, and protecting Mubarak.  They forced the army to make that choice.  The army wasn’t willing to, though since then they’ve proved willing to shoot Egyptians for themselves.

Shutting things down in ways that really hurts the oligarchy, even if done in a completely non-violent way, is going to be met with violent response quite often.  You must know, upfront, what you will do in that case.

Opting Out and Creating a New System

Be clear, the financial oligarchs don’t make most of their money directly from you.  They make their money by packaging revenue streams (or what appear to be revenue streams) and selling those streams.  So , mortgages, debt of various kinds, parking receipts, rent on public buildings sold to investors and then leased back, and so on.  That’s how they make their money. Other elites may sell you things, but they too are in the financialization system.  Everyone is looking for a locked in stream, which is why there is the huge push to make sure you own nothing.  Put your data in the “Apple Cloud” and that’s great, as long as you can make your monthly payments.

Opting out is about finding a way to live which puts you on the hook for as little of this as possible.  You lose a ton of convenience by opting out (tried to travel without a credit card?)  But to the extent you refuse to be on the hook for monthly payments, whether mortgage or credit card, or anything else, you both increase your freedom and you decrease their power by decreasing the revenue streams they want to monetize.  Their key focus is “must have”.  You must have a phone, you must have internet access, you must have food, you have housing,  you must have health insurance (because you will be forced to buy it).  What you must have, what you must pay, is what can be securitized, what is a reliable revenue/rent stream.  Every part of the oligarchy wants to lock this down, that’s why they make it harder and harder to go bankrupt, that’s why they try and make things which aren’t property (ideas) into intellectual “property”, that’s why they make unpatentable drugs illegal and patentable drugs massively expensive.

To the extent that you can get yourself and other people out of the system, you are directly hitting the oligarchy, not just because of revenue, but because the less dependent people are, the more they can oppose the oligarchy.  This means growing food among small groups (something they are trying to make illegal).  This means figuring out how to provide local energy without going through the utilities.  This means creating your own financial institutions, by hook or crook.  This is the work of creating ground based power.  The right wing does this through their churches, the left has lost its lodges, the unions are in disarray, the co-ops have not caught up the slack and so on. There is a ton of room here for real social entrepreneurs (ones who don’t want to cash out).

It is important to have a market of markets.  That is to say, right now, the only way most people can make a living is to work for someone else.  That’s it.  In the old days, if things didn’t work out, you could go back to the farm, or in the even older days you could just go homestead.  It might not be that great a life, but it was an alternative to the system.  As a result, the system had to treat you enough better than the alternative (family agriculture or subsistence agriculture), to keep you away from it.  Even as that went away, there was the spectre of communism.  The Western world felt it was necessary to treat their population better than the Communist world.  When the Communist bloc fell, the oligarchs shrugged and said “so, where are they going to go?”  With no other options, they no longer had to treat their own population well, or so they felt.

Opting out isn’t just about hurting the oligarchs directly, it is about creating that other economy.  Call if the slow economy, call it “off the grid”, whatever.  A place where people can get shelter, food, clothing and basic healthcare without being involved in the mainstream economy.  What that world, should it be created, will offer, is autonomy.  It will offer not having a boss riding you 40 hours a week and emailing you at home.  Your material circumstances may be lower, but autonomy is worth a lot of happiness and peace of mind.

This certainly isn’t easy to do.  The counterculture tried, and to a large extent failed. It is still necessary, because without the threat of an operating alternative system which people can go to, the current system sees no reason to treat people well.

Concluding Remarks

This certainly isn’t exhaustive, nor is it meant to be.   The point is that there are a variety of different strategies, and different strategies are suitable for different times, places and circumstances.  If you’re drawn to one strategy, that’s probably what you should be working on.  At the same time, recognize that some strategies may prove more successful than others, depending on the circumstances.  No strategy works in every time and place.

And for God’s sake, don’t imitate your idiot masters.  If at first something doesn’t succeed, and if you try and try and try again, and it still doesn’t work, try something else.

The Depression and the future

Ok, everyone’s talking about the oncoming recession.  What it is is the second downleg of the depression we’ve been in since the financial crisis.

All of this has been baked in since 2009.  Since January 2009, when Barack Obama announced his stimulus, which was not just too small, but put together so badly that it was evident it would not kick the economy out of the doldrums.  The stimulus would be seen to fail (it doesn’t matter how many jobs it “saved” what matters if it created a good economy.)  Meanwhile Obama made it clear he had no intention of restructuring the economy, shutting down any of the major banks or of disrupting the paper for oil securitization game.

So, anyway, what’s happened since 2009 was baked into the cake.  What is happening is what anyone halfway competent should have expected to happen and that includes the massive wave of austerity in the developed world, the high commodity prices, and the continued liquidation of public assets to feed private greed.  If anything it’s slightly worse than I expected.  I would have hoped that some nation other than Iceland would prove to have enough guts to tell the vultures to fuck themselves, but apparently we’re all eunuchs or morons these days, and the Greeks still aren’t rioting amongst the mansions of the rich, I notice.  So who cares what they think, anyway?

I suppose it’s tiresome to keep saying “I told you so”.  Certainly I’m tired of it, but the point is that this could all be predicted, was all predicted (well, not all, I didn’t get the revolutions in Arab countries, though I know someone who did and the clues were there.)  Assume that what is happening is, essentially, what your lords and masters are at least ok with having happen.  If they weren’t, it wouldn’t be happening.  This isn’t a case of incompetence, they didn’t even try to make this stuff not happen.

The future you’ve got coming from you is a future of unconventional oil extraction: aka fracking.  The play is to get back to cheapish oil and make that run for as long as it can.  That is what WILL happen.  That is baked into the cake.  The only economy these people want to run is an petro economy. They will do whatever it takes to run one and continue to use their position in control of legacy capital to extract rent and tax the future.  There will be more controls on so-called intellectual property (a contradiction in terms if there ever was one).  There will be more security theater.  There will be more austerity, which means taking public assets and turning them into what appear to be revenue producing private assets.

This will go on until the last drop of cheapish conventional oil has been pumped and the last suburb built.  Americans, and apparently the developed world, will do whatever is required to see this happen.  They will kill whoever they have to kill.  That’s what the developed world is, now.  This is only compounded by stupidity like Germany going off nuclear without a clear plan of how to replace the energy.  Remember, boys and girls, yes, there is blood mixed in with that oil.  A lot of it.

This the future, the next goodish economy will come from unconventional extraction.  Not sure how long that will last.  It will come at great environmental and health costs, but Americans will give up anything to keep the petro-economy going, so, so be it.

What’s this gonna mean for you?  The good jobs are going to keep getting scarcer, and if you aren’t willing to do evil (work for any insurance company, anything defense related, most good paying education jobs, most good paying healthcare jobs, virtually all financial industry jobs, etc…) then they will essentially non-existent.  Real wages after real inflation will continue to trundle down.  Even inflation adjusted wages as measured by the BLS may show declines.  Employment WILL NOT recover in your lifetime if you are over 40.  That doesn’t mean there won’t be ups and down, but it won’t have a long sustained up.  Financial markets will continue to be a rigged game, and if you want to play, realize you need to play as if the game is rigged, not as if you’re in a free market.

Unless you can pay premium, the quality of everything you buy will continue to go downhill. Want a good burger?  Closing in on $8.  Want a shitty fastfood burger?  $2 or less.  Public transportation will get worse, more libraries will close.  The cops will make less calls and be less helpful.  The schools will be worse in most places and keep getting worse.  Eventually Medicare will be slashed to the bone, and so will SS.  Not necessarily destroyed, but so weakened they might as well be.

It’s gonna be a long 20 to 30 years folks.  Does this have to be the future?  In theory, no.  In practice, well, yes, apparently it does.

Looting Greece while the Greeks Riot

So, apparently EU finance ministers are encouraging Greece to speed up privatization.  Which is to say, let themselves be looted faster, and transfer public goods into private hands at firesale prices.  Meanwhile, the Greeks themselves continue to riot in all the wrong places.  Folks, if you’re going to riot, go riot where the politicians and bankers are.  March on their mansions, and have your fights with the cops there. As long as it’s you fighting the cops someplace else, they don’t care.  Your master class, who refuse to pay their taxes or to tax each other, will not get serious about anything else other than paying themselves and their foreign friends by looting your country until something more important than money is on the line.

In governmental terms, yes, Greece should restructure.  Roll it all over into 100 year bonds at 1%, and refloat your own currency.  If investors don’t like that, tell them they can have that or nothing.  Slap on capital controls and let everyone know that you will hunt to the ends of the earth any of your rich who try and take capital out of the country.  Start actually taxing the rich.  If they can’t take it, they can leave, without their capital.

A blast from the past and a reminder about the future

Courtesy of the Black Agenda Report:

As election year 2008 began, Obama took the most pro-banker, laissez faire capitalist position on home foreclosures of the three major Democratic presidential candidates. John Edwards backed a mandatory moratorium on foreclosures and a freeze on interest rates, while Hillary Clinton supported a “voluntary” halt and $30 billion in federal aid to homeowners. But Obama opposed any moratorium, mandatory or voluntary, and balked at cash for homeowners and stricken communities

You don’t always get what you vote for, but the surprises aren’t usually on the upside.  Obama was given the opportunity to be the new FDR.  The financial crisis was a huge opportunity to break the power of the financial industry and the rich for a generation, and in so doing make it possible to have an economy which worked for everyone, to fix America’s energy problems, and to have universal healthcare.

Instead what happened is that Obama bailed out the rich and the financial industry, who were bankrupt, then refused to prosecute them for systemic fraud.  He did so in a way which left, by and large, the exact same class of people in charge of the financial industry, made the remaining banks bigger and more powerful, restored the wealth of the rich to pre-crisis levels and restored their profits.  Meanwhile employment has still not recovered (ignore the unemployment rate, it is a lie), wages are flat or declining, real inflation is through the roof, the price of oil is skyrocketing and the current discussion in DC is how much the poor and middle class should get screwed out of their Social Security, Medicare and Medicaid, in order to keep the rich filthy rich.  Oh, and how much tax cuts the rich should get.

America is in terminal decline.  There may be a lot of ruin in a nation, as Adam Smith wrote, but that amount is not infinite.  The next chance you get to turn this around you will be starting from a much worse position.  A lot more pain will be unavoidable.

Obama is not turning things around, what he is doing is negotiating with Republicans how fast the decline will be, and how much and how fast it is necessary to fuck ordinary Americans in order to keep the rich rich.  If Obama wins another term, he will continue to negotiate the decline, then, odds are very high, a Republican will get in, and slam his foot on the accelerator of collapse.

This is why Obama must lose in 2012. I would prefer that he lose to a Democrat in a primary, then that Democrat wins, but he must lose regardless.  If he loses to a Republican, then 2016 you get a chance to put someone in charge who might do the right things (or even just some of them.)

No, those odds aren’t good. They suck.  Every part of them sucks.  And even if you get a Dem in 2016, you’ll probably choose the right most candidate, just like  you did last time, and he’ll go back to negotiating with Republicans over what parts of the corpse of America’s middle class they should dine on next.  “No, no, eat one kidney first, they only need one to survive, so that’s not too cruel.”

But it is still your best chance.  Otherwise you’re looking at full, Russian-style collapse.  What comes out the other end, I don’t know, but  you really won’t enjoy getting there.

And yes, if a Republican gets in in 2012, that’ll be awful. Just awful.  But it’s not like a Republican is never going to be president ever again.  That’s not on the agenda, that’s not possible.  It will happen, and he will substantially cater to the Teabaggers.  He will trash your country.  That’s baked into the cake now, all you can choose is how soon it happens, and work to replace him with someone who might do the right thing.

Remember, the question is not “if” this will happen, it is when.  The sooner you get it over with, the sooner you have another chance to get it right, and the less decline the US will have suffered. If President Teabag gets in after 4 years of Obama, the US will be in better shape at the start of his wrecking than it will be if he gets in after 8 years of Obama.  Obama is a disaster, who is making things worse, not better.  He’s just making it worse more slowly than a Republican.

When Medicare is destroyed is only a matter of when

Folks, this won’t pass this year, but a version of it will pass:

That plan would transform Medicare from a government insurance program to one in which seniors would chose from private, federally subsidized coverage. Americans 55 and older would stay in the current system.

Remember, Obama’s health care reform was essentially the Republican plan from the 90s.  The Republicans, whom everyone was sneering at for running crazies, have put in place a team of hard right ideologues, who have moved DC significantly to the right even of where it was.  At some point they will pass this, because they want it badly, and the Democrats have no alternative vision other than “right wing, but not as right wing”, which goes nowhere.

I’ve said this before: get out.  If you can’t get out, get your kids out.  This is not going to end well.  Obama has institutionalized Bush rather than rolling him back, and in some areas, such as civil liberties and unilateral Presidential war powers, has actually moved further to the right than Bush was.  It is not impossible that this will get better in the next couple decades (as 5 year old Ian once argued, almost nothing is impossible), but it is unlikely.  Americans spent the last 35 years spending their retirement, their children’s retirement and running infrastructure and capital into the ground, and they were good with that.  Every effort to repeal Prop 13, for example, failed miserably.  America is the culture of the free lunch, what Americans don’t realize is that they’re the free lunch.

That doesn’t mean the US couldn’t fix its problems, in theory, but the point is that socially and politically, the US does not want to fix its problems.  It wants to continue to make them worse.  Yes, a majority of Americans may prefer different policies on some issues, but they aren’t willing to MAKE it happen or to actually pay for it (see Prop 13 above).  They aren’t willing to die for it, and at this point, that’s what it would take because your elites see no reason not take everything you have and turn you into slaves in all but name.  You will be debt slaves, who own almost nothing, not your house, not your phone, not your car, not your books.  Anything which can be rented to you, rather than than sold, will be.

Welcome to the Repo culture.  Everything you have, everything you are, can be taken away from you, and you are nothing but a series of revenue streams to your lords and masters.  Fail to pay, and you won’t even be allowed to be a debt and wage slave, you’ll be in a cardboard box or a debtor’s prison.

Modern Americans are mostly descended from people who didn’t say “this pisshole country is worth fighting for”, they’re descended from people who said “screw this, I’m outta here”.  Emulate them and leave, if you can’t leave do the other thing they were willing to do: prepare for a revolution and be willing to die in it.

Or accept your fate as slaves.

Your choice.

Police moving to clear the WI capital (Or Are They?) – Apparently not

Update 2: Well, well, well. That is impressive, the police essentially refused the order.  My hat is off to them.  This is an extraordinarily encouraging sign, in that it indicates that the security apparatus has limits to what it will do.  If elites1want real crushing, they’re clearly going to have to ship in outside police/military, like they do in major conventions.  The local cops, at least in some places, won’t crush the locals without good reason.


Sad, given the police union has been supportive.  Police are obeying an order they know is wrong.

People who are willing to walk are gathering on the ground floor, those who will not cooperate are linking arms on the 1st floor.  Some reports of people forming a linked arm barrier outside the capital.

AFL-CIO ustream here.

The next step is to shut something else down (or everything, via a general strike), while recall efforts are worked on.

Update: police seem really reluctant to arrest anyone.  This may not be over yet.

A bit more on the oil trap

People will not ship or produce if the cost to produce+ship is higher than what they can recoup.  There is a bottom on prices despite what the idiotic supply and demand curves in textbooks show.  Contrary to what they tell you in economics 101 supply and demand is not a law, there are significant exceptions.

In fact, if the price of shipping increases enough to make production uneconomic, then people will be laid off.  When this is occurring throughout the world, you get a ripple effect.  It’s not self-reinforcing in the sense that it increases the price of oil (in fact, it decreases it), it is self-reinforcing in the sense that it does make the economy worse, because it reduces demand for a wide variety of goods, whether shipped or not.

What happens then is what we’ve seen before, the price of oil drops and you get a “recovery”, which is to say a pendulum from shitty economy to sucky economy and back again.  The current economic juggling act is about making sure the economy stays sucky, and doesn’t get to shitty, and you do that by keeping the price of oil from exploding.  When it does, you lose.

There can be no good global economy right now. There is not enough oil in the world to do it under current economic models.  Cannot be done.  You may be able to have a few places doing well, but only a few.  The solution to this is to GET OFF OIL, but no one is willing to allow that to happen, because old money wants to control the new economy and isn’t sure they can do that with current technologies.  That’s why you have idiots talking about shale oil, or using natural gas, or anything else which keeps an economy where a small group of people provide the energy for everyone else, and make a killing doing so.

So instead you have revolutions, you have unions being crushed and so on.  At its base this is all related to the price of oil.  Oil in Saudi Arabia costs about $7/barrel to produce.  Think about what that means in terms of profit, especially in a country where those profits stick to the hands of a few people.  Think about the fact that with all that money they could buy anything, unless the US has rich as rich as Saudi Princes and companies which are so large in terms of market capitalization that they can’t be bought.  (Well, or they could do ownership controls, but strangely, they prefer to be stinking rich.)

The rich MUST be kept rich.  If they aren’t, the oilarchies buy up everything.  That’s not exactly true, but it is true enough because that’s the way the people at the top think.  They know that they either stay so big they can’t be bought, or they’re bought.

Of course there’s more to this.  We could discuss regulatory and environmental (and labor, but labor is the smallest part of it) arbitrage to China (who refuse to allow outsiders to buy anything that matters, period.)  We could talk about the structure of the suburban economy, which is both profoundly unproductive and based on oil, so that any nation which embraces suburbanism can’t boom without driving up oil prices and, at this point, causing oil price spikes.  We could talk about financialization, but financialization is just a side-effect of needing lots of rich people and having less and less to sell to the world, which is about suburbanization, which is what the rich bribed the middle class with – you can have your little castle and your unearned unwarranted wealth increase in your unproductive suburb away from brown and black people, in exchange we get to be really, really rich.  Like all deals with the devil, of course, most people get cheated, but then when you decide you deserve money you didn’t earn and that being away from black people is important to you, you’ve already sold your soul.  The rich will find this out as well.

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