Board-Ansicht
Mix-Ansicht- Corporate Crime: The age of money and guns - Sorrento, 12.03.2004, 17:55
Corporate Crime: The age of money and guns
-->Bull
Adam Porter, March 11, 2004
Let us be clear about this. This is not the age of debate. This is the age of money and guns. In those terms economics are no longer about variables but about slightly more predictable paths. Note the word slightly. As with geo-politics the veneer of mistruths, falsehoods and the general shadow show can be peeled away to reveal basic facts.
We got most of those right in the last piece. Maybe slightly off on the stock market numbers and timing but we can wait and see for those. But we talked about how uncompetitive and weak the American and western economies were in general. We talked about how those at the head of the economic system were trying to plaster over the cracks, ever more desperately, before the American election in November. We talked about `profit taking` from an over inflated stock market, with the possibility of a serious `second bubble` bursting. All of these basic ideas are coming round. Stock market volatility shows how nervous the elite are. As we said the stock market now being merely an indicator of elite values, certainly not of profits or actual value. (ii) The market is now solely about quick bucks on the back of false promises, mega-daytrading and imagery.
The American economy is faltering badly. It’s main hope, as we pointed out, is that the other main economies, Europe and Asia (especially Japan) will perform even worse than they do. But now the policies of the Bush administration are really coming home. It is going to be difficult to turn it around. Republican or Democrat president will make no difference, they will just blame different factors. A second term for President Bush will see him blame the global economic outlook and extol the need for `tough love` for the American poor. A President Kerry will blame the Republicans and extol the need for `fiscal responsibility`.
America is deeply uncompetitive. It is a bloated consumerist mess. As a result there is an imbalance between supply and demand. The demand is a result of the shadow show. That Americans will always having ever increasing standards of living, bigger SUVs, bigger stomachs, bigger consumption of energy. This has started to end. Global oil production is peaking, this is being generally accepted. Even Exxon, Powergen in the UK, Total Fina and BP admit it, quietly. Shell have not admitted it, they just said their reserves were 20% lower than they had previously `thought`. Such competence we can do without.
The low energy tax societies, like the USA or Iran for example, are being hit the hardest. Pump prices in the USA have made it over $2.15. The cheap oil bonanza from Iraq was always a false promise, as any half decent geologist could have told you, even members of the Bush-Cheney energy plan such as Matthew Simmons. Ali Bakhtiari the erudite and amusing head of state planning in Iran has also been saying this for some time. But difficult ideas like these have not fitted in with the agenda of the media organisations, basically subservient, who have parroted the promises of politicians’ possible `recoveries` until they are blue in the face.
America has, notably, been showing off its `growth` figures. These are relevant if you still accept the notion of `growth` as being relevant. I do not. This `growth` has come about due to sacking people, making them work longer hours and selling vast quantities of debt. Again, `growth` is an elite value indicator. Ironically it also comes about due to the rise in oil prices. The market, and especially the oil companies, have a vested interest in rising oil prices. A vested interest in running down oil and energy stocks, without investing in renewables to drive up the price and make more profit.
Despite all of their protectionist measures, illegal tariffs (such as the economic sanctions in place against Europe including the UK, or those against China), collapsing the value of the dollar or throwing the latest slice of their own poor on the starvation scrapheap (15% of Americans go without food at sometime in a 12 month period), nothing has halted their decline. Their unemployment figures are false and their trade deficit is unstoppable because they produce nothing `useful`, a western economic problem in general. You can’t eat"The Sopranos" or"The Simpsons." You can’t build housing with Marilyn Manson, though it might be fun to try. Even starting wars is proving a loss maker. Even war profiteering is looted by elite industry and its executives. You just can't get the staff these days.
Another irony is the possibility that America, not masked protestors throwing stones, may finally collapse the World Trade Organisation. Like the United Nations the WTO threatens to produce a system of international law. It’s even worse than human rights as well, something far more important, money. As Richard Perle, long time senior foreign policy advisor to President Bush, said the “most important” aspect of the Iraq war was “the destruction of the evil of international law.” Rather like Tony Soprano would say if he could collapse domestic law, except he would be better dressed. Expect the WTO to go the same way in the medium term.
After all, why should America follow trade rules? What for? This isn’t the age of debate.
GNN's Chief European Correspondent, Adam Porter is editor of www.yearzero.org; to be re-launched in Spring 2004.
<ul> ~ Quelle</ul>
Thread gesperrtgesamter Thread:
