Sunday, February 05, 2023

The Secret Sauce Of Neoliberal Capitalism Is Public Debt Backing Private Wealth

Fin d’siecle American imperial capitalism in a nutshell: At what point do we realize that the only function of our psychopathic elites is the creation of the debt that the banks need to back all of their  notational value? The secret sauce of capitalism is public debt backing private wealth. 

For decades by a concerted effort, financial capitalists have been undermining the security of this country, undermining democracy, dimming the light of freedom, capturing our politicians and perverting the constitution to the benefit of themselves, creating a free market (free for the rentiers instead of free from the rentiers). 

For example, our elites have created brittle companies while saying they were making companies more resilient. Leveraging profits into the service of debt to create ‘shareholder value’. Creating Just in Time supply chains that are also brittle and ripe for exploitation and manipulation in the cause of efficiency. Imposing an unjust tax revenue system that raised the cost of living and the cost of doing business for most people – relative to their income - and - which decreased taxes for exploitive financial rentierism. We have Bernie Sanders saying that there should be no billionaires…as if the legislation and tax favoritism that enables the extraction of these billions did not come from his own votes for legislation and tax laws.

Instead of America leading the world and promoting democracy and freedom by example, we have a ruling elite (yes, we elected most of these sell-outs via the heavily moneyed election process – even politicians who want others to not buy their elected office complain and beg for cash but never mention the corruption evident in our campaign finance laws or the necessity of raising so much bribe money) — this elite that feels the only way to defend and secure democracy is through financial coercion and brute force that, in fact makes us less secure and less a democracy.

Those who would give up essential liberty and embedding the desire for the basic human rights of “life, liberty, and the pursuit of happiness.” the ideal that no one is to be ruled by another without their consent…to purchase a little temporary safety, deserve neither liberty nor safety.