RUBINOMICS AND PLUTOCRACY: CHANGE YOU CAN'T SEE SO FAR.

A RECAP OF THE NATURE OF THE CRISIS, & EXTENT OF THE INSUFFICIENT ANSWER SO FAR.

Obama's great desire seems to be that, by being kind and considerate to the mighty, the mighty will be kind and considerate in return. It has worked so far, at least for him, and the party of hope and change, but now the stakes are higher. Whereas the plutocracy long saw Obama as a nice dark horse, now it may be seeing him as a problem.

Because, in truth, it's all about power, and things have come to a head. The "republican" agenda, starting with Nixon (not Eisenhower), has been to give more power to the plutocracy. The word "republican" is ironical: it's all about the plutocracy. It is not about the public-thing, but about the power of Pluto. As a result of 40 years of efforts, a much more powerful plutocracy has risen over the land, even over the world. The Rubin group of the Clinton administration was one such plutocratic instrument enforcing plutocratic policy. Clinton did what Rubin told him to do ("make the bond traders happy"). The US heavy industry fell behind, evaporated, or left for China. The plutocracy profited from this by being the indispensable intermediary. Rubin amused the People with a bubble or two.

Now, just as it was getting richer and more powerful than ever, the plutocracy is suddenly at bay. Why? Because its little plan of turning the US population into relative serfs has encountered a serious road block. Suddenly, 10% of the present and future would be serfs have refused to pay the "gages of death" ("mort-gages"). Big disaster. The first reaction of the plutocracy has been to save its income, so it invented TARP (Transferring Assets to Rich People). TARP, as its name indicates, also covered up what had really happened, namely the extent to which the plutocracy stole and leveraged itself with People money, to make itself ever richer. Hey, if they got rich enough, maybe they could have private armies and seize power outright, as happened to Rome (circa 100 BCE).

The plutocracy is not without hope: it has a Rubin team in power, all around Obama, putting the right ideas in his head (such as his pathetic broadside at Sweden, that I will answer on my blog). Geithner came out all vague, because he is trying to gain time, and avoid what would really hit the plutocracy, namely nationalization. He hopes, against all hope, that, somehow, by using the anti democratic, Dark Side powers of hedge funds, foreign powers and the Federal reserve, plus a utopian rise of the housing market, he will be able to see the derivatives of real estate turn away from extinction. Meanwhile the American People gets all the disadvantages of nationalization, and none of the advantages.

The plutocracy underestimates its opposition. The taxpayers and serfs of the USA have had it, and the USA is not all alone (as Rome was). In other countries, the plutocracy is still under the power of the republic, and these countries will resist the pauperization that threatens the USA. That, in turn, will show the American People that a bit of assertiveness is the best way to resist the loud impudence of the unhinged plutocracy.

Patrice Ayme
http://patriceayme.wordpress.com/