Vibe Shift?

America's Mafia Economy

I get a kick from reading the “news” and articles by various analysts who seem to think that election of President Donald Trump signals some kind of major change in US Policy-- and things will be different with this “vibe switch” —as the usually wrong Niall Ferguson puts it.

Hopium. Copium?

Or, as Fergy says, “Gotham City” coming?

Maybe all of the above. A “vibe” is an emotional sensation, inchoate, irrational, often viral. It can be good or bad — of both.

So while the mood be shifting, it’s as predictable as the weather.

Ferguson should have known that when he tried to be “trendy”.

I am a 60-year-old Scotsman with a penchant for red suspenders, oolong tea, and the novels of Walter Scott—so no one will ever accuse me of being an arbiter of cool.

That tells you that Niall is trying to desperately to be cool and justify his huge salary. He is a millionaire who moved to the US for the money.

That aside let us look for real-world context.

Number One. US Presidents don’t have the kind of power necessary to make fundamental changes in national policy—constitutionally at least— on their own — they must share power with the House of Representatives, and the Senate. Constitutionally anyway — not that anyone really cares about the Constitution much anymore.

That’s that “balance of power” thing. Practically speaking, the political class must also share power with the governmental bureaucracy and to an extent with the media..

Sounds complicated, right? Power this, power that,,,

But “power” is all bought and paid for by a few hundred billionaires and several thousands of millionaires, including Niall Ferguson —who, of course, include all elected politicians, and lots of bureaucrats after they move to the private sector. Oh, an media people and people in the think tanks and academic. The entitled , so very ‘beastly” bourgeois. It is all about $$$.

 he's stale, he's been there too long.
Touch him, and you'll find he's all gone inside
just like an old mushroom, all wormy inside, and hollow
under a smooth skin and an upright appearance.

Full of seething, wormy, hollow feelings
rather nasty--
How beastly the bourgeois is!

Yes, that’s DH Lawrence. And a different “bourgeois” in a different time in a different country. Still something rings true.

Is it a “vibe” Niall?

I digress….sorry….

US “democracy” is financialized —just like everything else—home, healthcare, education, your kids and your marriage, your spirit.

The US is in the final stage of financialization as elites scramble to accumulate wealth—which is no longer “real”. What is a billion dollars to a billionaire. Not money — power. But all illusory.

The United States has deindustrialized, and its neoliberal privatization policies have loaded down the economy with an enormous overhead of debt service, health insurance costs and real estate costs. the FIRE sector (Finance, Insurance and Real Estates) has increased its share of reported GDP, but its income is not really for a “product” at all. It is a transfer payment from the production and consumption economy to the rentier sector. That makes America’s GDP much “emptier” than that of China and its socialized market economy. When the cost of credit and rents go up, so does GDP.

Simply put the US has nothing to sell the world, it can only take, take, take. Financialization means paper wealth. And paper burns.

The forests end up burning if you are not careful. And your house too.

So the US is the richest country in the world!?

And also the biggest debtor?

If I borrow a million dollar knowing I can’t pay it back, am I rich?

And what happens when my creditor wants it back?

Depends on the creditor. If it ‘s a bank, declare bankruptcy. If it’s the Mafia. kiss your ass goodbye. If it’s a relative, make up a story of hard times. If it’s a poor person, ignore them. There are strategies. What is the US strategy?

However, borrowed wealth or stolen wealth is not wealth if it is temporary or if you can’t use it usefully.

Ultimately, the US is a pauper in what counts-- the ability to make things that people need. You cannot eat a stock certificate.

Which is also why the US must avoid real wars like Russia is conducting with Ukraine. It does not have the industrial base to survive a war longer than, at most, a month. Longer than that, its poverty in all things would be exposed.

As a result, US wars over the last two decades have been financial and economic bullying, wars of extortion, grinding down much weaker countries.

As I said: take, take, take.

In the end, the US steals poorer countries’ oil ‘ gold, and often more —using proxies, terrorism, and subversion. Being America means never having to say you’re sorry.

The US is continuing these neoliberal, neofascist, neocolonial strategies, of course. It is evil foolishness of course. But the country has nothing else.

This is not “vibe” shifting. It’s been the same vibe since 1945. The words to the song change but not the song.

It is just getting worse. Might makes right. Western “liberal democracy” is a sham.

Trump’s talk about annexing Canada and Greenland and conducting strikes on Mexico, and his likely continuation of sanctions against Venezuela including the 25 million dollar bounty on the head of duly elected President Maduro is more nonsense which sends a message to the world majority – quick-- join BRICS! Find alternatives.

The good news is there ARE alternatives. Even for the US.

Chappy’s Comment

Chappy would like your support for his musical career. By him a coffee. Ichi and I do the music, so buy us coffee, too. HERE !