Editorials

Commentary on America’s Financial Culture

by Matthew Hobbs

A financial crisis, which is designed to benefit only those who created it, is looming. This cyclical process, this American “doom cycle,” is the current financial culture which only asserts its needs of a lack of necessary regulatory reform, which if in effect, would have made a crisis like we have seen in the recent past from happening again. Every President has a financial crisis, Reagan had the savings and loan crisis well into Bush’s reign, and Clinton had the dot-com bubble bursting. They are possible through huge market interference and that is only made possible by deregulation.

The next crisis will have the financial leaders display the same faint loyalty to the institutions which prevent their collapse, while the financial elite stuff these professed believers of a ‘too-big-to-fail- financial system‘ coffers making possible political hegemony.  The degree of risk taking, which was at the root of the last crisis, has not been curbed. Business as usual in a society whose left party is in fact moderate at best, a host of corporate defenders, hard-on-terror democrats who will stop at nothing to see the continuance of corporate profits of unjust war, which in all likelihood, make them able to outspend any opponent, especially in contested districts. This is the democratic unfettered capitalist system in motion, where money is speech, where profits for the few have been sold to us as benefitting the poor, benefiting the middle class, and creating greater harmony between classes.

The governed are powerless to stop this dark money from tainting our political process, and the media institutions have left us with a discourse which disallows rational reform in response to these issues, which will ultimately prove to be our collective peril. Take, for example, the lack of debate regarding our ecological crisis, to which we are now dropping half-a-billion dollar drill bits in the Antarctic sea to find the last remaining vestiges of crude oil and natural gas on Earth. The Oceans will no longer have the permafrost to keep methane from escaping at a rapid rate which immensely speeds up the process of global warming, nor perform its traditional role of reflecting radiation from the sun back into the atmosphere. What we have to look forward to is a cataclysm of ocean wildlife, salination levels reaching such high concentrations, which will in effect simply kill off most of what can’t adapt, a severe long period of warming making most of the land on earth untenable, creating huge problems of hunger en masse.

It is until we realize that mother earth is not our refuse bin, and that the profits tied to the vast quantities of commodity resources stripped from this planet are relinquished not to a small minority who possess such a flagrant lack of care when it comes to this destructive game, and to the state of humanities future. The people whose hands are on these levers of destruction are the same who understand the nature of rising carbon emissions, better than most, due to a campaign of misinformation being currently perpetuated telling us it’s a natural phenomenon. It’s this relationship I’d like to provide some commentary.

These wealthy few are under a powerful intoxicant, with the rape of the planet comes unprecedented wealth, never before seen in human history. They vainly believe if they can accrue enough wealth, they can insulate themselves from the very same disaster their greed caused. This idea, probably grounded in some truth based on the degree of wealth obtainable in our capitalist society, is a distortion of reality, a sad fantasy only the most depraved sort of elite can insulate themselves from morality. In this, their cowardice, their incompetency to do what millions of Americans are capable of and in fact practice on a daily basis, a moral life, a life which yearns not only for their own betterment, but that of their fellow man.

Yet the power elite play by an entirely different set of rules, their money and their mantra shape the general public discourse into a framework as rigid and uncreative as they are. It is in this permanent state of cruelty which allows them to play outside the rules, and with no adversary, it is zero accountability that has shaped their current thinking, guided by a conservative careerism which people will do much of anything, include act out of deep seated fear to move up the totalitarian chain.

If everyone else will have to deal with an ecological crisis, then they will be immune from the fallout, they can shelter themselves from the moral imperative to sustain life on this planet, they will be as apt to maintain that belief to the huge detriment of the populace, even in the face of riches beyond, until recent times, human imagination.

Our enlightened leaders have made a point to ignore the treaty made at Kyoto, and recently make no effort to find consensus with more conscious leaders in Copenhagen. Their pockets bulging from the very same forces of rape which will prove our bitter end have made their decision long before assuming office, and the possibility that our so-called “liberal” congressmen will perform their duty to make an initiative to protect the planet, has disappeared.

As with any consensus being reached in Congress, the liberals have betrayed the very same issues years before they campaigned on. They have found it far more useful to “move ahead,” and when it comes to their history and culture which surrounds the liberal institutions, including our universities and the church, have had their backs turned on. With both sides placating the public, through talk about debt and ceilings and the like, they’ve pandered to the propensity of Americans in a time of chaos and economic ruin to seek the masculine candidate to provide us with the security we actually need, yet rarely receive. In fact, generally in this void we fill it with wars of foreign aggression, which undermines our actual security, yet serves the interests of big business.

Yet this bait and switch seemingly hasn’t lost its value politically. Obama represents a strong-on-terror liberal, someone who stays out of the way of constant conservative pecking insisting that the liberal is overly sensitive and hugely inept at solving an increasingly unstable world, which is a vicious cycle, now seemingly impossible to stop.

Now, with the gears of political reform in a state of perpetual lockdown, now is a perfect time for citizens to rise up, and fill a void missing from our public sphere: a media which performs its essential duty, to allow for a rational debate. Would you care to join us?

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