Volatility

February 24, 2010

Our Thunderdome

Filed under: Bailouts Only Propped Up Zombies, Corporatism — Tags: — Russ @ 5:00 am

 

The teabagger position of being non-rich, demonizing the government, and yet at least implicitly supporting the big banks (which is implicit, since for all their howling none of them are actually organizing along anti-corporatist lines), is certainly incoherent from the point of view of their own interests. In theory the government could in fact help them, while the banks will never be anything other than their enemy. (The real populists this country used to have in the old days never lost sight of that, however anti-government they may otherwise have been inclined to be.)
 
However, this position is also intellectually incoherent. Looking to this government for help or for reform is in fact pointless. But the reason for this is precisely because the government is the hired arm of Wall Street. It serves as bodyguard, mugger, and bagman. It rigs the laws to legalize the banksters’ crimes (and where necessary ensures that they’re never brought to justice where they do commit de jure crimes). It has embarked upon the Bailout to steal $14 trillion and counting from the people to hand it over to the banks. So to condemn the government but not to do so as part of an attack on the big banks is incoherent, since the servant of the banks is really all the government is. This lies at the core of everything government does, and everything government does it does from the point of view of some benefit to the banks, some extension of or supplement to the Bailout.
 
Conversely, to attack the banks but not the government is also lack of coordination. Wall Street is dependent upon the government. Obviously, it could never have bloated in the first place without the promiscuous Fed pushing decades of easy fiat money. (If anyone wants to quibble over what exactly the Fed is alleged to be, I’ll just say that if it prints the currency, that makes it public and part of the “government”, period. All the definitional and conceptual fog around its hybrid public-private nature is just an arbitrage scam, so that it can play heads-I-win-tails-you-lose vs. anyone demanding accountability of it. It’s a public agency where convenient, and it’s a private bank where convenient. For the public interest, of course, everything is rigged to be very, very inconvenient.)
 
And then of course Wall Street would today be a smoking crater if it weren’t for the Bailout. The Wall Street zombie is insolvent, and will continue to exist only for so long as the Bailout props it up. This is a permanent condition. In fact we know that monopoly finance is not capable of existing for long without destroying itself, and each time it would be gone forever if the government didn’t steal from its own people to preserve it. Citi alone has been bailed out at least four times.
 
And then there’s the fact, as flunkeyboy Obama himself told the banksters a year ago, “I’m the only thing between you and the pitchforks”. By now it may very well be true that they owe their continuing physical existence to their goonish government.
 
So in these ways we can see how Wall Street, while master of government, is also utterly dependent upon it. (Anyone who’s seen “Mad Max Beyond Thunderdome” may recall Master-Blaster.)
 
Yet for all its dependence Wall Street is surprisingly fickle and scornful. We’ve seen how it happily shifted from Democrats (Clinton) to Republicans (Bush) and back to Obama and his Corprocrats, and now they’re looking again to the Robublicans. This is how the vagrant banksters have always been. Throughout history the moneylenders sat complacent while governments, kings, empires, rose up and were overthrown, revolutions and counterrevolutions convulsed the land, while cities burned, while masses were murdered or fled as refugees, through all of it the filthy banks blandly sat there, open for business to all comers. What’s a government, let alone a country or, spare us, a people? That’s all just noise and nonsense. It doesn’t exist in the eyes of the bankster, except as something that may bleed if squeezed. 
 
This puny little master in fact has no independent existence at all. Like all usurers everywhere throughout history it is an absolute parasite. Parasites like this have no roots in the community, in the people, in the country. Their rootless and stateless and unproductive existence makes them worthless. Their destructiveness and predation make them traitors. The finance sector’s bloat over the last 40 years is the black metric of our sorrow.
 
It’s the loss of our country, it’s the loss of faith with ourselves as a people.
 
Do you dream of anything in life other than servitude to this great villain? If you dream of a political solution, know that the corporate monster has stolen our politics. Do you want America back? Think in terms of your politics. Whatever you want, any ideal, they are standing in the way. All the money they steal to buy the government, and all the (far greater) money the government steals to hand over to them, is money stolen from us. So we must Smash them.
 
We see how the government and the big banks are now so inextricably intertwined as to be one symbiotic ooze. We can’t smash one without smashing the other. So the Astroturf/teabagger anti-government notion won’t do the trick, since it only aims as the non-essential appendages of government, not at the real body. And looking to this government for “reform” of Wall Street is an utter fool’s errand.
 
The only way out is a full frontal attack on the body, and the only way available to do this is the way of ju-jitsu. We’re far too small to fight weight vs. weight, but we can use the monster’s weight against it. Relocalization, reskilling, rediscovering self-reliance, getting out of debt, ceasing to incur debt in the first place, moving our money out of the banks, these are the paths of resistance and victory. This strategy is in the tradition of Gandhi and of Sun-Tzu.
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6 Comments

  1. Is there a possibility that we could find a couple of young, enthusiastic constitutional lawyers to sue the shit out of “the government”, any branch (the FED?) for letting the economy crash, or whatever? We could finance them with contributions on the net.

    Comment by chas — February 25, 2010 @ 12:41 am

  2. I don’t know. I doubt that could accomplish much. They have all sorts of laws to absolve themselves of liability for that kind of criminal or negligent behavior. (And also to administratively define courses of action out of existence by rigging things so that no one in particular has “standing” to sue. That’s why, for example, individual taxpayers can’t sue over malfeasance with tax dollars.)

    Even well-delineated, targeted suits like Bloomberg’s FOIA suit against the Fed, which has won in court, still run into a brick wall as the system stonewalls.

    And even winning at trial is hit-or-miss by now, as more and more courts become corrupted and captured. The “supreme” court certainly is.

    By now it seems like it’s the rare conscientious court which is really the renegade.

    Comment by Russ — February 25, 2010 @ 3:44 am

  3. Loved this blog, Russ. Especially the very last, “The only way out is a full frontal attack on the body, and the only way available to do this is the way of ju-jitsu. We’re far too small to fight weight vs. weight, but we can use the monster’s weight against it. Relocalization, reskilling, rediscovering self-reliance, getting out of debt, ceasing to incur debt in the first place, moving our money out of the banks, these are the paths of resistance and victory. This strategy is in the tradition of Gandhi and of Sun-Tzu.”

    Beautifully written, my new friend.

    Comment by Bloodgroove — April 13, 2010 @ 8:01 pm

  4. Thanks, man. Is that your blog, writing as Jonny D? That’s a poignant piece. I don’t have kids myself.

    Comment by Russ — April 14, 2010 @ 6:04 am

  5. Yeah, that’s me. Thank you for the kind words.

    Comment by Bloodgroove — April 14, 2010 @ 10:30 am

  6. You’re welcome.

    Comment by Russ — April 14, 2010 @ 3:33 pm


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