[lbo-talk] money printing and neoliberalism in turbo phase

Carrol Cox cbcox at ilstu.edu
Wed Jun 19 09:01:47 PDT 2013


I would like to see more discussion on the political and economic impact of inflation. But I want to focus on the word _fascism_ in the post. I have been objecting to the term for almost 15 years, & I think it even more important now to avoid its used.

First, I agree that bourgeois democracy has been killed in the U.S. Its forms are observed when and only when so doing serves the needs of the (capitalist) state. But fascism is not the _only_ or even the most effective authoritarian state. And the tacit assumption that 'non-democracy' = 'Fascism' is perhaps the most useful ideological Cover for the suppression of democracy in the U.S., a suppression which seems to be reaching its climax under the Obama administration, "The More Effective Evil" as Black Agenda has labeled it.

Fascism was (is?) a very special form or species of the Authoritarian State, flourishing under the special historical conditions of the inter-war period. And a 'close relative' of it seems to be gaining some ground in some of the chief nations under the heel of Austerity. (Greece & others) But tyranny disguised in democratic forms, not explicit 'totalitarian' movements, is the danger faced in the core capitalist nations (U.S. Germany, France, England, [Japan]). And for agitational purposes, "fascism" is counter-productive. On the surface, we still live in that wonderful democracy invented by our fore-fathers; no Nuremburg; No Brown Shirts; or any of the other external trappings of Fascist Italy or Nazi Germany. To call out "Fascism" conceals rather than calls attention to the grave dangers we face.

Obama does not wear a uniform. But he has destroyed bourgeois democracy* in the U.S.

Carrol

*I would prefer to use some other term than "bourgeois democracy." It is an accurate term, but not, I'm afraid, the most lucid term for general uses.


> -----Original Message-----
> From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
> On Behalf Of JGL
> Sent: Tuesday, June 18, 2013 5:15 PM
> To: lbo-talk at lbo-talk.org
> Subject: [lbo-talk] money printing and neoliberalism in turbo phase
>
> Hi Doug and LBOsters,
>
> Anyone care to poke holes in this very general analysis or answer the
vague
> questions?
>
>
> The demand from high finance all over the world seems to be: keep those
> money printing machines going at full throttle. And now, obama is hinting
> that bernanke will get the axe...It looks like the beast is gorging on
essentially
> free money, consolidating wealth and power (mergers, takeovers, buyouts,
> policy writing, pumping up stocks and derivatives...) and meeting all over
the
> world trying to hash out the most efficient way to rig the system to keep
it all
> going.
>
>
> The trade deals all seem to be - well, fascist is somehow an
> understatement...maybe, blueprints for massive transnational corporations
> to steal money from workers and control them at the same time? It's hard
to
> come up with appropriate words for trade deals that would enable
> corporations to sue for profits for something they never did. I mean, it
makes
> "barriers to trade" suits under the WTO look like kid's stuff.  So, aside
from a
> kind of de facto world-wide corporate fascism that is essentially
state-less
> with unprecedented power and means of control, what happens when
> derivatives go blooey (isn't that inevitable?)  and interest rates rise
> precipitously?  Yes, next crisis - or...what..? With everything we know
about
> capitalism, Kondritiev waves, etc., it seems like TINA...
>
> Or, let me put it another way: It seems like the last crisis accomplished
many
> many things:
>
> 1. Massive weakening of the the job market, enabling employers to pay
less,
> further destroying worker rights, benefits, and wages.
> 2. Massive cuts in education budgets (well, all budgets actually - at
least
> budgets that help working people).
> 3. Cuts in pensions in many nefarious ways - and that continues apace. 
The
> pressure on cutting is extreme and I fear a derivatives bubble popping
could
> be (excuse me while i mix metaphors) the nail in the coffin.
> 4. Made assets cheap for the biggest players
> 5. Decimated housing for the little guy - of which the consequences are
too
> myriad and profound to go into in a list - and created a huge pool of
cheap
> real estate to buy up and hold/and or rent.
> 6. Created almost free money for the capitalists/investor class - whatever
> you want to call them...maybe, the financial elite...or maybe, our
overlords is
> the most appropriate title.
> 7. Increased M&A - which is another way of saying wealth and power
> consolidation. I still don't think people are paying enough attention to
this.
>
> 8. Record corporate profits
> 9. Zero effective legislation to stop it all from happening tomorrow.
>
> Well, the list could go on and on...
>
> The big boys created a crisis that was a huge windfall for them.  Why
> wouldn't the big players want another round of death and destruction?
> Because they prefer stability? Come on...
>
> My general take on things is that we've crossed the Rubicon on almost
every
> level.  It seems as if  the turbo on the corporate juggernaut has kicked
in, and
> we are in for an unprecedented number of bodies crushed under its
> wheels.  At the moment it seems like about half of the u.s. is on it's
knees
> and the other half is - well, let's be honest, it's being served by the
people on
> their knees... In the meantime, the power elite go on their merry way.  If
we
> honestly look at what's left of the left, including occupy and
well-meaning old
> lefties proposing worker owned cooperatives, we got nothin'.  The path is
> clear for the juggernaut to roll on...
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