Saturday, July 18, 2009

Who's the Fucking Genius Now, Francis?

You Americans are loserpussies. The world's top three banks are now Chinese and USA's biggest shows up at the 5 spot. When I last played organised hockey, nearly 30 years ago in a hangover league with my best friend and his father, our pregame cheer was "We are Number Five!" because there were six teams in the league. Let me hear you say it now America!
You Chicago School, free market, deregulation geniuses still don't get it. You are done. All over the world and in this country, only you don't know it yet because all you see is Kramervision.
Joe Stiglitz says that Fukayama was wrong about the end of history, that "The forces of liberal democracy and the market economy would inevitably triumph". Joe is wrong with all the other American liberals who allowed this to mean all market and no democracy with a lot of lies to grease the skids. Fukayama is wrong because he is a professional apologist for the corporate liars who are raping the earth to death.
Economics has been perverted into voodoo by what it purports to study- MONEY. The bosses of the world have bought and paid for their own school of solemn liars, who act as if debt and sustainability did not exist.
Accountants and economists do not count the cost of environmental pollution because it is inconvenient to those who hired the counters, not because the cost is unknowable. Where is the fiduciary responsibility, the due diligence, the risk management? Pay for performance anybody?
We are all struggling in what has been called a crisis of confidence. Confidence indeed, because a "confidence man" pretends to be something he is not, for the sake of unlawful self enrichment. Under deregulation, the rule of law has become voluntary for the rich, and the entire financial system is policed and staffed by con men top to bottom, backed up by the Heritage Foundation and the Federalist Society, Exxon Mobil and Citigroup. Bernie Madoff was in business for 40 years and did just fine.
Why must we simply put the banks in charge of saving the banks? Just what is the contingency for when a barrel of oil is priced in euros or Yuan? Hello Treasury? Hello Big Oil? Why are the tough love policies of the IMF and World Bank so diametrically administered from the US perspective at Home v Abroad? Could this entire Chicago School be a bunch of well funded and self serving liars who threw all the rules away only to crash the US economy bus?
The Bus is upside down in the ditch and just because the wheels are still spinning doesn't mean we should still be listening to the driver's story about how it is all going to be allright and these things just happen naturally and it can't be helped. I want to see the tow truck and I want to talk about the new bus.
What I want to say about the metaphor is I don't want a damn bus- I want a train that doesn't pollute and moves everybody efficiently, and runs on wind power. If we don't spend all this made up, borrowed stimulus money on this and right now, there will be no economy to grow. Saving the planet saves the economy, stupid. Commerce must be society's tool and not its master.
Let them make steel. Let them be pourers of concrete and raisers of windmills. GM, GE, the UAW and the EPA. Go forth and actually make something of yourselves before you become a nation of fat, well armed salesmen, surrounded by shiny things you can no longer afford.
How bad does it have to get before we admit the corrupt self interest of the very rich captains of FIRE (Finance, Insurance and Real Estate) has destroyed the credibility of American national interest abroad. This is the high water mark of the American Century. America had better become something beyond a slogan bearing arms or it will soon find itself at the mercy of the forces it has unleashed.