Ernest Callenbach: A looter elite has fastened itself upon the decaying carcass of the empire

from tomdispatch...

Long-time literary agent Richard Kahlenberg wrote me that Chick [Ernest Callenbach] had left a final document on his computer, something he had been preparing in the months before he knew he would die, and asked if TomDispatch would run it.  Indeed, we would.  It’s not often that you hear words almost literally from beyond the grave -- and eloquent ones at that, calling on all Ecotopians, converted or prospective, to consider the dark times ahead.

We live in the declining years of what is still the biggest economy in the world, where a looter elite has fastened itself upon the decaying carcass of the empire. It is intent on speedily and relentlessly extracting the maximum wealth from that carcass, impoverishing our former working middle class. But this maggot class does not invest its profits here. By law and by stock-market pressures, corporations must seek their highest possible profits, no matter the social or national consequences -- which means moving capital and resources abroad, wherever profit potential is larger. As Karl Marx darkly remarked, “Capital has no country,” and in the conditions of globalization his meaning has come clear.

The looter elite systematically exports jobs, skills, knowledge, technology, retaining at home chiefly financial manipulation expertise: highly profitable, but not of actual productive value. Through “productivity gains” and speedups, it extracts maximum profit from domestic employees; then, firing the surplus, it claims surprise that the great mass of people lack purchasing power to buy up what the economy can still produce (or import).
Here again Marx had a telling phrase: “Crisis of under-consumption.” When you maximize unemployment and depress wages, people have to cut back. When they cut back, businesses they formerly supported have to shrink or fail, adding their own employees to the ranks of the jobless, and depressing wages still further. End result: something like Mexico, where a small, filthy rich plutocracy rules over an impoverished mass of desperate, uneducated, and hopeless people.

Barring unprecedented revolutionary pressures, this is the actual future we face in the United States, too. As we know from history, such societies can stand a long time, supported by police and military control, manipulation of media, surveillance and dirty tricks of all kinds. It seems likely that a few parts of the world (Germany, with its worker-council variant of capitalism, New Zealand with its relative equality, Japan with its social solidarity, and some others) will remain fairly democratic.

The U.S., which has a long history of violent plutocratic rule unknown to the textbook-fed, will stand out as the best-armed Third World country, its population ill-fed, ill-housed, ill-educated, ill-cared for in health, and increasingly poverty-stricken: even Social Security may be whittled down, impoverishing tens of millions of the elderly.

As empires decline, their leaders become increasingly incompetent -- petulant, ignorant, gifted only with PR skills of posturing and spinning, and prone to the appointment of loyal idiots to important government positions. Comedy thrives; indeed writers are hardly needed to invent outrageous events.

We live, then, in a dark time here on our tiny precious planet. Ecological devastation, political and economic collapse, irreconcilable ideological and religious conflict, poverty, famine: the end of the overshoot of cheap-oil-based consumer capitalist expansionism.

very articulate, very eloquent and very disturbing...

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Nobody goes to jail ... because the entire system set up to monitor and regulate Wall Street is fucked up

yeah... something finally grabbed me...

matt taibbi in rolling stone...

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.

[...]

To understand the significance of this, one has to think carefully about the efficacy of fines as a punishment for a defendant pool that includes the richest people on earth — people who simply get their companies to pay their fines for them. Conversely, one has to consider the powerful deterrent to further wrongdoing that the state is missing by not introducing this particular class of people to the experience of incarceration. "You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshit would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."

But that hasn't happened. Because the entire system set up to monitor and regulate Wall Street is fucked up.

and there ya have it...

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Wall Street and our government are one and the same and are destroying the rest of us

robert scheer talking with amy goodman at democracy now about how the unfettered greed of our super-rich, elite overlords is destroying the very fabric of our society, particularly among those who have worked the hardest to carve their place in it and are the most vulnerable to economic shenanigans...

This is not a game. It’s not a political game. It’s not a mathematics game. They’re real human beings who invest their whole life putting shelter over their family, caring about their family. And when you go out in these communities—and I’ve done some of that—you know, it’s so depressing. You know, I mean, I talked to people in Riverside who cleaned office buildings, you know, in Long Beach and commuted to Riverside so their kids could live in a better neighborhood. And they bought this house, and they made the payments. They made the payments. They did everything they were supposed to do. And the neighborhood went into the toilet, and they lose everything. They lose everything. And that story is repeated millions of times in America.

And the guys who did it to us, they weren’t those vicious right-wingers. And, you know, it wasn’t all the people that we liberals like to attack. It was our friends. Let’s get that straight, you know? When I call this the Clinton bubble, you know, I mean it very seriously. It was our friends. It was people, you know, like the heads of Fannie Mae and Freddie Mac, who claim to be liberal Democrats. But they were being rewarded with enormous bonuses. You know, enormous bonuses. They made out just as well as the people running Citigroup. These were not government agencies. These were actually traded on the stock market, but posing as government-supported agencies. And the fact of the matter is that the damage that was done to us was done by people who talk a very good game. You know, Robert Rubin contributed money to the Harlem dance group, you know? Jesse Jackson even supported the reversal of Glass-Steagall. There’s a whole chapter in my book, you know? The people who acted in a very bad way, in this book, were people who we would probably be more comfortable talking to, you know, over a drink somewhere than the others. So, you know, my book, you know, it’s called "How Reagan Democrats—Reagan Republicans and Clinton Democrats Enriched Wall Street and Mugged Main Street." And the Clinton Democrats, who now control the Obama administration, are—you know, this is turning the henhouse over to the foxes. And I would say the record of Obama on this has been abysmal. He has been a frontman for Wall Street, and it is shocking.

my heart has always been solidly connected to issues of social justice and it pains me beyond words to see common, ordinary, decent, hard-working folks screwed over by those who are only interested in accumulating more money and power for themselves... but, sad to say, i see it everywhere... regardless of the country or the culture, billions of decent people are being used and manipulated by those who only want to enrich themselves and don't give a flying shit for the common good...

i visited a friend in macedonia this past weekend and he was showing me photos of the trip he and his wife took to bucharest, romania, to visit his wife's sister... among the photos were several of the palace built by former dictator nicolae ceauşescu... now, i knew ceauşescu was an ego-maniacal despot, but, even with that knowledge, the size and grandiosity of the palace was stunning, only the pentagon in the u.s. is larger... the palace was built with forced labor... all the premier artisans and craftsmen from around the country were rounded up and moved to bucharest and put to work on the project - without pay - just so dear leader could look around and say, "look how great i am and how much power i have"...


Ceauşescu Palace, Bucharest, Romania


View from Ceauşescu Palace, Bucharest, Romania

we tut-tut and cluck-cluck over that kind of person and that kind of excess but it's going on right under our noses in our very own country... but when it's one of our own, we just choose to look the other way...

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Mish Shedlock is outraged

it's kind of hard to get any more outraged than i already am when i look out the window here in kabul and see the unbelievable fucking mess we've made out of things in this country, but... yes, i'm outraged at the in-your-face looting of the world economy by the already super-rich and then reading about how billions of people across the world are starving to death... yes, i'm OUTRAGED...

Where's The Outrage?

I don't know about you, but I am outraged.

I am outraged and not just about Goldman Sachs, but about a process that allows, even encourages political pandering, by time and time again rewarding leveraged riverboat gamblers and failed institutions and at taxpayer expense.

I am outraged that real people are suffering massively while the influence peddlers have stolen the country for their own personal benefit.

I am outraged at a political system that is totally unresponsive to the American people.

I am outraged by campaign contribution and lobbying processes that allows corporations to buy votes with donations.

I am outraged how legislators ignored the wishes of the people who clearly did not want these bailouts in the first place.

I am outraged that very little of this is in mainstream media. Why is this stuff not on the frontpage of every newspaper in the country or at least in the editorial pages?

I am outraged that the average US citizen is not aware of any of this, instead depending on CNBC, or "The View" for their interpretation of the world.

I am outraged how special interest groups have exercised their power to monopolize the economy for the benefit of themselves, US citizens be damned.

I am outraged that all these bailout programs are doing nothing to alleviate the massive consumer debt problems. Every program, virtually every program was designed to bailout lending institutions, not consumers.

I am outraged at fees charged by banks receiving bailouts.

I am outraged over government pension plans and government pay scales massively out of line with the private sector.

I am outraged that Congress and this administration thinks the solution to massive budget deficits are still higher budget deficits in excess of a trillion dollars.

I am outraged about indictments. Paulson Admitted Coercion to force a shotgun wedding between Bank of America and Merrill Lynch yet no indictments were handed out. Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis.

I am outraged that US citizens are not concerned enough and not educated enough to demand change.

I am outraged that the two party system has failed. Neither party has delivered meaningful change on budgets, on taxes, on social security, on deficit spending, on the size of government, on military spending, or fighting needless wars.

I am outraged that the Obama Administration promised changed and did not deliver. "Yes We Can" was a lie. The reality is "It's Business As Usual, Only Worse, With Higher Deficits".

I am outraged there is not enough outrage over this.

Where the hell is the outrage?

here's a comment thread from my saturday post that addresses the "outrage" factor...

Am I alone in thinking that this is going to get incredibly ugly when the American people finally manage to pull their heads out of their fat asses, turn off the TV, get off the couch, and do something about this mess? I've been wondering who will have a civil war first, China or the USA. Either one would almost certainly trigger WW-III. mu | 10.17.09 - 12:54 pm | #

the average american is still too comfortable in everyday life to bestir themselves... as long as there's beer in the refrig, cable tv with the nfl and american idol, and enough money to shop at walmart for groceries and the usual unnecessaries, the asses are going to remain firmly planted on the couch... the sad truth is that robbery on such a massive scale has become part of the american scenery... over-the-top greed and obscene wealth is now de rigueur in american economic life, never mind that it's coming out of our pockets, just so long as our comfort level can be maintained... nobody really gets it yet that we're witnessing the largest wealth grab in the history of the world and that billions are being left to die as a result... profmarcus | Homepage | 10.17.09 - 9:36 pm | #

I have a bad feeling that things will go from "too comfortable" to "torches and pitch forks" quickly. The transition will be awhile yet but when it happens, it will happen over night and no one will be ready for it. mu | 10.18.09 - 12:01 am | #

perhaps i'm a bit too cynical but i half suspect that an uprising is what our handlers are hoping for so that they can pull out all the stops with martial law and slap our annoying,cheeky selves down once and for all... profmarcus | Homepage | 10.18.09 - 12:29 am | #

I don't think they're nearly that competent. There is a vast global conspiracy but no one knows they're in it, the (Subgenius style) Con is just the emergent behavior of a planet full of mostly stupid partially domesticated mostly bald apes. And you thought you were a cynic mu | 10.18.09 - 1:05 am | #

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Bigger than Madoff - "the greatest fraud in US history"

and we would be surprised by this because...?

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn (£88bn) in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme.

"I believe the real looting of Iraq after the invasion was by US officials and contractors, and not by people from the slums of Baghdad," said one US businessman active in Iraq since 2003.

In one case, auditors working for SIGIR discovered that $57.8m was sent in "pallet upon pallet of hundred-dollar bills" to the US comptroller for south-central Iraq, Robert J Stein Jr, who had himself photographed standing with the mound of money. He is among the few US officials who were in Iraq to be convicted of fraud and money-laundering.

Despite the vast sums expended on rebuilding by the US since 2003, there have been no cranes visible on the Baghdad skyline except those at work building a new US embassy and others rusting beside a half-built giant mosque that Saddam was constructing when he was overthrown. One of the few visible signs of government work on Baghdad's infrastructure is a tireless attention to planting palm trees and flowers in the centre strip between main roads. Those are then dug up and replanted a few months later.

Iraqi leaders are convinced that the theft or waste of huge sums of US and Iraqi government money could have happened only if senior US officials were themselves involved in the corruption. In 2004-05, the entire Iraq military procurement budget of $1.3bn was siphoned off from the Iraqi Defence Ministry in return for 28-year-old Soviet helicopters too obsolete to fly and armoured cars easily penetrated by rifle bullets. Iraqi officials were blamed for the theft, but US military officials were largely in control of the Defence Ministry at the time and must have been either highly negligent or participants in the fraud.

ya know, what really needs to come to light is that the kind of corruption described in the above article is not at all new... it's been going on for a long time... the news is that some of it is FINALLY coming in to public view...

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The real story behind the bailout - massive wealth and power increases at the top

them that has the gold makes the rules...

from jerome a paris at daily kos...

It's time to move beyond the old adage "if you keep doing the same thing and expecting different results, you're either insane or an economist" to note the hard, painful truth: they're not expecting different results, they're getting exactly the results they wanted: massive wealth and power increases at the top, at the expense of everybody else.

[Alan Greenspan's Financial Times] article is the most explicit ever call for that age old principle: privatise the profits, socialise the losses. Why is that man still listened to? Oh yes: because the only public that matters are those on the privatised end of that sentence.

[...]

This is not incompetence - this is unrepentant, brazen praise of looting, and a call for more.

looting is a word i haven't used in reference to the incessant fleecing of the masses by the super-rich elites... why, i don't know, because it's a perfect fit...

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Looting in Belgrade

having walked up and down belgrade's main shopping street a fair number of times, this you tube clip cuts a bit close to home...

A video of two young women looting with gay abandon during rioting in the Serbian capital Belgrade was becoming a Balkan smash hit on the video-sharing Web site YouTube Friday.

[...]

A persistent amateur cameraman followed the women as they loaded up with chocolates at a corner shop, came out giggling, then went after designer bags, shoes and clothes at Belgrade's swankiest stores in its vandalized main shopping street.

"Get lost, stop filming," one of them shouted, so laden down with booty that clothes and bags dripped to the ground amid the broken glass below emptied storefronts.

"But you are the heroines of this protest for me," the cameraman replied sarcastically above the din of burglar alarms.

Looters seized their chance as rioters attacked Western embassies during a mass rally to protest at U.S. and European support for Kosovo's independence.

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