Tuesday, October 25, 2011
Plutocracy Versus Democracy
Recently I have been thinking about the reality of four things:
the US economy, the US political system, the US citizenry and the ongoing O-W-S.
I have written the manuscript for a OMOTS version of a book about the US Federal Reserve System and its effect on the US economy and on a recent saturday morning, I received a PROOF COPY in the mail.
It was a wonderful experience to open the package and see a gleaming new book in front of my eyes.
The proof copy needs lots of work, editing etc. but the fact that I had produced this and gave birth to it from my mind, was one of the highlights of my writing life to date.
Anyway, I digress from this blog entry.
What exactly is a plutocracy?
It is a system that exists for, is represented by, is paid and bought for and is controlled by, the super wealthy class.
The word comes from the Greek root - from wealth, of wealth. I have NOTHING AGAINST wealth but when it is used to CONTROL the political system, when decisions are made on behalf of a certain small group, an oligarch, a plutocracy and EXCLUDE THE VAST MAJORITY OF THE POPULATION, I have a major problem.
What is a democracy?
It is a system of government by the people, of the people, representing the interests of the OMOTS where decisions made IMPACT IN A CONSTRUCTIVE way the majority of the population.
What do DC and Rome have in common?
Instead of gladiators and coliseums, we have sports 24-7-365 (almost).
Instead of Roman legions stretched across the world, we have US armed forces in 150 countries across the world (see link).
Both had CORRUPT SENATORS and a population that were distracted and diverted from the main issues of the day!
Of the more than 1.5 million armed services population, the US has 369,000 deployed in these 150 countries.
Is this the mark of a democracy? Or an imperial entity?
Banking has assisted and financed this vast expansion and internally, the banks have become villified due to their risky and arrogant behavior over the past several years.
A leaked Citi Group report from 2005, at the height of the HOUSING and FINANCIAL BUBBLE, entitled "PLUTONOMY: Buying Luxury....", three CFAs discuss their views (from a purely investment perspective) on the US, Canada dn teh UK and where they see wealth creation opportunities.
Readers can GOOGLE the PDF file that I found on the Internet and downloaded. It makes very interesting reading six years later!
The three, Ajay Kapur (NYC), Niall McLeod (London) and Narendra Singh NYC) write the report in an almost DISMISSIVE tone as far as the OMOTS is concerned. They are not concerned with the trend that income INEQUALITY will continue to accelerate in the three countries mentioned in the report.
They are primarily concerned with one and ONLY ONE consumer: THE RICH CONSUMER and they don't particularly give a damn about the ordinary consumer, because the future, as far as the report is concerned, DEPENDS ON THE CONSUMPTION OF SUPER wealthy products and services.
But now the sleeping masses are beginning to wake from their slumber, their lethargic political hubris.
They are flowing out onto the streets and they will not be placated by the usual platitudes uttered by buffoons in suits, politicians wrapped in the US flag, or banksters pretending to be for the good of the OMOTS.