|Capitol Flight 101: US (hot) Air crashes into the Current Sea.|
Does it seem a little late-to-the-table for this analysis of something that's as obvious as the nose on Adam Smith's face? Once the wealth of nations has been sequestered into banks and securities that are owned by the SupraClass and under guard by techno-marvelous murder-machines, ones that lately insist on being referred to as "warriors" for indiscriminately mowing down unarmed women and children, wielding weapons of mass destruction with no conscience whatsoever, but only a knee-bending, head-bowing, ring-kissing homage to Power to which it offers blind obedience, it is not the book, but the OMG! response to it, that is eye-opening.
What is sorely missing from all the reviews and all the cries of "it's Socialism" (gasP!), or "Capitalism is too broad a term", is the one basic truth that we wish to simply ignore, but which was roundly demonstrated by the so-called private sector's response to the financial panic, and the government sector's complete capitulation to their demands. The former one being, as former US Treasury Secretary George Shultz put it, "Using an atmosphere of presumed crisis, one can get something if you know what you want", enabling the wanton rapaciousness that took place, the very dynamic that precipitated the crisis in the first place, and the government's reponse, which was to throw open the public purse to disburse all of the country's, and really, the economy now being global in nature, the world's, savings, and handing them over to the plundering sector.
Which all means that, just like the Frank-Dodd bank reforms, or the ridiculous,"Volcker Rule", nothing means anything anymore, because, as we saw by the actions of the government and the Fed in 2008 it doesn't really matter what the Law, John or otherwise, says, or FASB accounting rules state (just change them), they will always default to the real rules by which everything is run, which is via accruel (sic) accounting that simply hands over the proceeds of a generation's saving to a small elite of rat-faced, trophy-wived Nazties, and then destroying their ability to generate any income from the rest of their savings via ZIRP. So what does it matter, if you siphon off a pittance of their ill-gotten gains via taxation as Picketty suggests, if they simply periodically, foment a new crisis, which they once again use as an excuse to have the government take back any gains in equality and redistribute the wealth back up the ladder to those already besotted with it? As the Fed's policy, still going strong, although, with all the tapering talk, you'd think it had ended, but no, it hasn't, the next trillion of QE being showered on the wealthy is even now showing what a sham, scam and slam the idea is. What the hell do the Supraclass care about a .1% tax on their wealth, even should it climb to the maximum 10%, as the author suggests, when they have a far greater amount simply conjured out of ions and flowing via the currentsea into their pockets?
When a small minority of the population can confiscate the savings of the all-too-silent majority, with nothing happening but a book being written to suggest that maybe we could tax a piddling amount of their hoard so that maybe a few less people will be thrown into the street, or that less people will die from lack of simple medical care, then Capitalism's metamorphosis into Criminalism has become totally accepted. Socialism, when it is run by the Wealthy to fund the wealthy is perfectly alright, just don't let a nickel get to any of what the Wall-Street boys like to sneeringly refer to as human debris, those left in ruin by men in high places with low morals and no humanity.