Cowering Before Capital

If this were debt cancellation and stimulus it would be interesting and the details are not out but I somehow doubt this will be much more than doing what the markets want, the level of debt created by financialisation and neoliberal policies is socially unsustainable unless police states become standard. Nowhere in the article are people mentioned, just banks & governments. The quote ‘inability of the Greek government to live within its means‘ is such a poisonous falsehood, as if financial institutions did not for years bribe key people into endless debt restructuring not because it helped them but because it made money for the banks. This is a merry game played by elites with the costs passed onto those not allowed to participate, yet the besuited oligarchs have the chutzpah to project their irresponsibility onto their victims. This is a rescue package within the rules of the game, better than what could have happened but ultimately it prolongs the scam. Neoliberalism, does not work, financialisation in place of actual productivity does not work (excuse the pun), capitalism unregulated and unconstrained does not work, Adam Smith was actually very clear on that despite what Randroids and laissez faire fundamentalists prefer to read into his works (by current standards he’d be labeled a socialist by corporate media). What we are seeing is a rolling breakdown of  systems of human activity because we are serving the economy not making the economy serve us.

Oh and some spurious wonky shit about elections, is it just me or are you sick of the (very masculine) obsession with numbers and deals and very little mention of the consequences to people of the cuts no one seems to want to think about (is this I suspect because they are all convinced of the neoliberal arguments and wouldn’t know a socialised market if they fell over one). Or am I just stupid for hoping just a tiny bit a coalition and public appetite for reform might stymie the cuts agenda of a lib/lab coalition because they can see the tories waiting to profit off the market fetishised ‘austerity’ measures (nice euphemism for class war and shock doctrine beloved by all those who fully expect not to suffer one iota because of them, until maybe that crime spike means it’s their home invaded and they get beaten the shit out of to give up all their valuables, no really I’m trying to feel sympathy for the self absorbed privileged twats).

What? You didn’t order a rant, well you got one anyway. Try the veal, I’ll be here all week… then I’ll be at http://www.tenpercent.org.uk/

Peace out motherfunkers.

13 Responses to “Cowering Before Capital”

  1. libhomo Says:

    Now Obama is trying to put his crony who used to do work for Goldman Sachs on our Supreme Court. Rant away.

    • RickB Says:

      Ah yes Kagan, what a bold choice, if by bold we mean- centrist corporate establishment stooge that will allow the centre of gravity of the court to move to the right.

  2. otto Says:

    Bizarrely, here’s someone who’ll agree with you (not Buffett Sr, either).

    http://news.yahoo.com/s/nm/20100510/lf_nm_life/us_books_buffett

    • RickB Says:

      You are too kind in your post, hmm Buffet jnr, I wonder if his cd’s are any good, seems to come out of a rich family better than say Bush jnr. A bit new agey maybe, like to see him hang with Evo and get some more perspective.

  3. Jay Vos Says:

    Well I am raving about your very good rant!

  4. RickB Says:

    Oh good, the madness spreads!

  5. Bina Says:

    I’m fucking pissed, too, but for other reasons. One, I found out just what the real role of the Germans in all this is, and no, it’s not just casino banker (although that role is bad enough). I’m working on a blog entry as I type, so be sure to check in with me in a couple of hours. It should be up anon…

  6. Jay Vos Says:

    There’s an NPR/WBUR (Boston) program called On Point, and the subject this morning was the Greek bail out. The program had elite economic talking heads on it and not a mention of how all this will effect people (although one caller did ask “what about the people?”). Clearly the elite media (representing the bankers, etc) are scared shitless.

  7. Jay Vos Says:

    Here’s the link to the On Point program. Have a listen to the segment with the “experts.” Crikey.

    http://www.onpointradio.org/2010/05/euro-rescue

  8. RickB Says:

    Thanks Jay, yes I find it wonderful how ‘experts’ who stayed silent when they knew several years ago of the financial weakness of their system are still called experts, as it their wrongness/dishonesty confirms their qualifications to continue to spin the corporate line, which of course it does. But I think even they know they can maybe get away with one more ‘crisis’ before it’s warfare.

  9. RickB Says:

    PS. the show is sponsored by ‘liberty mutual’ so financialisation will not be singled out!

  10. RickB Says:

    http://www.taxresearch.org.uk/Blog/2010/05/12/greece-has-lost-an-estimated-us160-billion-in-capital-flight-in-10-years/

    Even as Greece’s debt burden grew ever more onerous, its burgeoning underground economy fueled massive illicit financial flows, or illegal capital flight, out of the country. Based on well-established economic models, Global Financial Integrity (GFI) estimates that over the past decade ending 2009, Greece lost an estimated US$160 billion in unrecorded transfers through its balance of payments.


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