Capitalism has struck the deadly reef of corruption and is now sinking fast. But passengers of the American ship of state--already drowning in the murderous waters of loss of homes and jobs--are still believing politicians' reassurances that nothing's really happening.
The lifeboats, courtesy of the Federal Reserve and the U.S. treasury, are "saving" big financial institutions: Bear Stearns, IndyMac, and a host of others to the tune of over a trillion dollars so far.
In the biggest government
intervention in the American economy since the Great Depression of the 1930s, the US Treasury Department is calling for American taxpayers to be the fall guy for over a trillion dollars of Wall Street's toxic debt that resulted from capitalist corruption and fraud. It's now clear for all to see that capitalism has totally collapsed.
Economic collapse is one of the final stages of the cabal's overall policy of world devastation. Many of their earlier phases of contrived collapse have been largely unseen or ignored by most Americans. The final economic breakdown is now in its first stages with:
These are realities U.S. citizens are finding it difficult to turn a blind eye to, because many Americans are literally being thrown out on the street through foreclosure and eviction.
What finally brought capitalism to the state of collapse was the adoption of
fascist style capitalism. Capitalism's smash-up is visible to those with eyes to see, but most Americans have allowed themselves to be blinded by reactionary ideologies.
From an earlier beneficial system of the use of human potential in productive enterprise, capitalism has devolved into a system of predatory oppression.
As we've seen in previous essays, the devolution of vulture capitalism into a repressive system is inevitable, since the negative, destructive elements are systemic, not accidental. We can best see the fundamental defects in capitalism by reviewing the imbecilic fantasies on which it is based:
During some eras, capitalism has operated on a somewhat economically equitable basis, providing wages sufficient for a reasonable way of life for workers, as in the post-World War II period. But, inevitably, the greed of capitalists consumes them and within a short time they're making over 800 times what workers are earning. That's an intolerable disparity!
By any sane system of economic calculation, a highly trained executive would never make over one hundred times what an average worker would earn. By that calculation, predatory capitalism has been "broken" since about 1980.
But over the last century, the members of the cabal have become totally
indifferent to human suffering and have no interest in justice or equality of opportunity in society. They're demonstrating that their corruption has no bounds; for example, the Bush junta denies that it must meet any standard of legal behavior and claims executive privilege whenever their criminal acts are challenged. And the impoverishment and utter destruction of workers likewise has no limits: the capitalists will continue to take taxpayer money to prop up their collapsed system.
Capitalists will never admit that their system has collapsed. So don't expect to see this headline in the Wall Street Journal or the New York Times:
In the 1920s and 30s, the capitalists so destroyed the American economy through their criminally corrupt practices that they couldn't figure out how to restart their system. President Franklin D. Roosevelt saved capitalism from its own Robber-Baron excesses by instituting his New Deal policies, which included Social Security and various oversight features. The cabal has destroyed all the oversight features of the New Deal and are continually trying to loot Social Security through "privatization" (piratization).
An international cabal had set up its own private banking system in 1913--the "Federal" Reserve System--to control the U.S. monetary system and following FDR's presidency they took total command of the American federal government. Unlike the FDR era during the Great Depression (1920s and 1930s) and the post-World War II era--when the cabal allowed some worker benefits--the current cabal has no use for American workers since the capitalists have taken their manufacturing to slave-labor havens such as China and India.
Success for the capitalists is not measured in terms of whether workers are losing their homes, their jobs, their lives (in warprofiteering wars), or their Constitutional liberties; success is determined by whether their system--however rotten--continues to allow for windfall profits to oil companies, war materiel corporations, and all the other cabal business interests.
Capitalists have added a new fascist twist to contemporary capitalism: profits are private, losses are public.
First, workers must awaken to the actual collapse of capitalism and ensure that they're not needlessly damaged by this catastrophe. For example, most workers are not attentive to what's happening to American and European banks: a great number are failing and many more will fail.
When my wife and I recently went to our old bank to withdraw our money, we were the only people doing so, even though that very day articles in the local and national papers told about this bank's shares having taken a nose-dive, and the bank had been on an FDIC "endangered" list for a couple of days.
Determine if your bank is in danger of going under and withdraw your savings and checking funds--and your safe deposit box contents--as soon as it's clear that it's unsafe. Don't hesitate, thinking that you'll wait for a week or two and see what happens. If you want a good reason for quick action, see what an ordeal IndyMac depositors had in securing their funds in July, 2008.
Next, make sure you find a new bank that's as safe as possible. Use an online rating service such as bankrate.com to determine that the bank you're considering has a 1 or 2 rating (1 being the highest).
Help alert others to the undeniable factuality of capitalism's collapse and do whatever you can to stop the criminal bailout of failed capitalism. Too many workers will allow themselves to be oblivious to this catastrophe, doing nothing about it, ignoring it or refusing to believe it even if it's brought to their attention.
The destitution caused by a totally shattered, bankrupt capitalist "system," must motivate blue- and white-collar workers worldwide to gain increased critical consciousness and radicalized revolutionary determination. We must set about creating a new political-economic-cultural system for human fulfillment: a redistribution of wealth, democratization of the workplace, and federalized worker control over industry and finance, among other essential features.
1 István Mészáros, "The Only Viable Economy," Monthly Review, April 2007