State Capitalism

Greetings good citizen,

Tomorrow is supposedly ‘D-day’ for GM although it appears a majority of GM bondholders have reversed their earlier stance and accepted a ‘sweetened’ offer to exchange their bonds for equity.

This occurred in the infamous ‘11th hour’ and the bondholders didn’t have a lot of options considering the courts were ‘disinclined’ to honor their claims against GM.

The bankruptcy was ‘moving forward’ regardless of who was owed what.

While I personally don’t care about the fate of the bondholders vs. the millions of jobs hanging in the balance, I find this second definitive incident, this disturbing ‘breakdown’ of longstanding laws very troubling.

First, the banks are being ‘bailed out’ by the government with taxpayer funds, now bondholders are being denied their legal rights.

While few will shed a tear for the bondholder, what we’re witnessing is an extremely disturbing breakdown in the rule of law here.

Rather than beat around the bush any further, I’ll come right out with it. It sure as shit looks like we are in the beginning stages of ‘state capitalism’.

It appears as though the government is ‘positioning’ itself to preserve the status quo by whatever means necessary.

Perhaps more ominously, they will do this despite how desperate circumstances become for the growing number of the unemployed/underemployed.

Understand, good citizen, that Nazi Germany had ‘state capitalism’ and so does today’s China.

While it is my belief that there is no such thing as a benign form of capitalism, state capitalism is the absolute worst of a very bad system.

All forms of capitalism are simply a bastardization of the function of money, a self-serving monopoly if you will, state capitalism adds the absolute rule of the Oligarchs to this sorry situation...think 'undercover kings' somewhat akin to the dystopian world of 'Rollerball' .

Worse, we are already further along this diabolical path than most of us realize.

The government has already refused to prosecute criminal acts committed by elected officials or their appointees. It has already used public funds to ‘off-set’ the losses incurred by their 'true patrons'.

And perhaps the biggest ‘failing’ of all is the government hasn’t lifted a single finger to correct the hollowed out economy that threatens to condemn our nation to perpetual poverty.

Where is our CCC and WPA?

There is no shortage of things that need doing, we once again find ourselves doing without because the Oligarchs have no interest in providing us with paychecks, now or in the future.

They can get what they want from the impoverished third world cesspools where our jobs were sent to…if you can’t get it too, it’s not their problem, it’s yours!

If you don’t already know, let me be the first to tell you that is doesn’t matter ‘who’ you vote for, things won’t change!

Our elected officials have become ‘window dressing’ to support the lie that we are still ‘self-governed’.

After eight years of Republican majority rule, the past two years of Democratic rule looks amazingly similar.

Worse, a large percentage of our ‘new’ administration consists of ‘holdovers’ from the past administration(s).

There’s some ‘change you can believe in’…not!

As we peer into the murky future, we see our standard of living and our prospects for the future are already well beyond our reach. They are already blaming you for your ‘failure to achieve’…when ‘opportunity’ only exists for one out of every ten thousand!

Worse, this, like globalization, is no ‘accident’.

They firmly believe it’s not their fault that you have been made redundant.

The sin here will be lying down and accepting that judgement.

Nobody wants to fight but sometimes it can’t be avoided.

The important thing to keep in mind good citizen is that the cavalry preparing to charge over that hill is bent on killing, not saving you!

Thanks for letting me inside your head,

Gegner