Monday, March 07, 2011

What Will It Take For Americans To Wake Up And Reform Capitalism?

Yes, the rich live in a different world. And no, information won’t change them. But a revolution will. Revolutions build slowly over a long time. Then, suddenly, a critical mass, a flash point, something totally unexpected ignites the ticking bomb.

It happened recently in a remote Tunisian village. Mohamed Bouazizi, a 26-year-old college graduate, unable to pay bribes, set himself on fire to protest police confiscation of his unlicensed vegetable cart. That triggered a revolution. And his death rapidly led to the collapse of a 24-year dictatorship.

Today we have four hot time bombs, tick-ticking, soon to make history; any one can easily accelerate the revolution that’s already killing Wall Street from within.

I'll list them but I urge you to go to Market Watch and read the descriptions in full:

  1. Wealth gap: Super-Rich vs class wars, death of democracy
  2. Wall Street’s doomsday capitalism vs rule by anarchy
  3. Pentagon’s perpetual war machine vs America’s budget time bomb
  4. Global population explosion vs resources, jobs, better lifestyles
ANY ONE of those will trigger a mass collapse of the American economy. Any one. All four are in motion already.
You see, the rich really are different. As the article notes, they vacation in elite resorts, they meet at elite clubs, and they manipulate the economy from behind barriers and firewalls that would make Fort Knox blink.
And they are woefully out of touch with the nations they "reside" in. "Reside" in quotes because like there are now transnational corporations, there are now transnational people. They may reside in the US or Britain or Switzerland or some small tropical island, but their power and influence and economic activity is so globally pervasive that they can influence far flung regions of the globe.
Prime example? Rupert Murdoch, an Australian who made his media bones in the UK before crossing the Atlantic, and then the Pacific to set up Asia's first pan-national satellite television system.
The rich not only are different from me and you, they don't even care about me and you.