Risk Rap

Rapping About a World at Risk

Profit Us Maximus

The deal is closed.  American democracy has been sold. The US Constitution, discovered in a discount bin at a cheap dollar store at the Mall of America will now be fully privatized to serve the greater corporate interests of America.  The deal will enable the global fraternity of capitalists to finally unlock and fully realize the hidden value of an unencumbered American dream.  Profit-Us-Maximus  will replace E Pluribus Unum as the national slogan.  Undoubtedly it will appear on our national currency for the freedom of commercial interests and the uninhibited power of capital has triumphed.  Commercial interests have trumped “we the people”.  American liberty, a political currency once recognized as the worlds leading example of representative democracy has been severely devalued.

The Supreme Courts decision overturning laws that restrict corporate freedom of speech now allows corporations the unrestricted right to financially support candidates for public office.  This paves the way for an installation of  a more corporate friendly oligarchy to rule over the citizens of the worlds first and now defunct representative democracy.  The courts ruling in the Citizens United vs. the US Federal Election Commission overturned existing laws that prohibited corporations from exercising free speech.  The ruling now sanctifies the corporate purchase of air time to fund media campaigns that support or attack candidates running for public office.  The wisdom behind the overturned law was to protect the interests of citizens from a corporations ability to use its considerable capital resources to finance and influence the election of  political candidates favorable to their corporate interests.  That law is yesterdays newspaper.

The decision opens the possibility that the governance of our nation, states and townships will be administered by elected officials financed and paid for by corporate largess proffered with the proviso to do their bidding.  America risks becoming one giant company store.  Once free citizens endowed with the protection and empowerment of a Constitution and a Bill of Rights will become beholden to the whims of corporate paternalism.

If your a shareholder in one of the corporations this is a bullish market event and your equity position has surely appreciated in value.  The special dividend of political power born from purchased access to legislators will accrue favorable returns to investors in The United Corporate States of America.  No longer will senators hail from the great state of Georgia or the Live Free or Die State of New Hampshire.  It’ll be the senator from “Do No Harm” Google or “Have It Your Way” Burger King.

There will be a million unintended consequences resulting from this decision.  How government administers and delivers services and how institutions fulfill their social mission will drastically alter.  Institutions and functions that serve and support education,  military, roads and infrastructure, health care, consumer and  environmental regulations, labor protection laws and provision of social services will be transformed.  The very nature of the liberal nation state will change.

This decision will create conditions for the privatization of governmental assets and institutional service structure  to accelerate at mind numbing speed.  The New Jersey Turnpike can now be sold to a private equity firm from China.  Drilling and the exploitation of resources found on National Parks will proceed without prohibition.  Public schools will be offered on a Dutch Auction hosted on e-bay; attracting the participation of a well capitalized confederation of publicly traded Charter Schools.  The mission to acquire the listless brick and mortar carcass of a once  venerated public school system will commence.  The promise of the systems renewal with the breath  of a new life fired by entrepreneurial zeal and taxpayer support will create a new Dow Jones Index constituent,  Education Inc.   Many functions of government will be downsized and outsourced to sophisticated data processing and business process companies.  Military units will also be privatized, becoming mercenary divisions of corporate security firms.   This will enlarge their market opportunities because they will no longer be beholden to exclusively serving the needs of a single client, the USA.

As Keith Olbermann pointed out in his Special Comment concerning the Supreme Court decision, the parallels with Dred Scott Decision are ironic.  The decision ruled that Dred Scott was not a man, but merely a commodity to create wealth for a person with full rights of citizenship.   Now corporations are blessed with all the rights and privileges of a person and the rising ascendancy of their power will soon supplant the interests of individuals.  In so doing, the Supreme Court has once again proven itself to be an activist  political tool to protect the interests of political and economic elites.

We can at least be thankful that the Supreme Courts decision allows us to dispense with the charade of participatory democracy.  Rampant cynicism about the unfair influence of money on the political process has always been understood as a problem.  This has undermined the people’s trust in the electoral process.  It has  eroded a collective sense of political enfranchisement.  It has contributed to creating a pervading  malaise of ambivalence within the electorate.  The monied interests with fathomless pockets can now come out into the open and make their presence plain for all to see.   It remains to be seen how this will alter the structure of K Street.

A new business model for how money is dispensed to politicians will need to be considered .   Perhaps a new derivative  called  a PIMP, (Politician In My Pocket) should be considered.  A PIMP Exchange could be set up in Washington DC.  This future exchange would surely prosper and would propel Washington DC as the fast rising global financial center on  the come.    PIMP trading would be recognized as a fast growing emerging market.  The trading in PIMPs would attract capital from all over the world and may even rise to supplant the future pits in Chicago as the place “where the world goes to manage risk.”

The PIMP Exchange will add that much needed transparency on how the political influence market is performing and what the going price is to buy and sell politicians.  We should be grateful to the Supreme Court  Decision  that laid the judicial foundation that will finally shine light on this aspect of our political process.  Now that its out in the open its all above board.  No more under the table deals will be necessary.  This ruling and the PIMP Exchange makes it very easy to follow the money.  Perhaps legislation should be considered that require senators and congressmen to wear the corporate logos of their three largest sponsors.  If a corporation wishes to remain anonymous feeling that the  interests of their shareholders are better served they can continue to operate under the radar.  A Generic Omnibus  Politician In My Pocket or a (GO PIMP) will be  designed specifically for this purpose.

The laissez faire approach to freedom of speech unfortunately confers all the power to those with the deepest pockets.  “Politicians will be bought and sold by the gross”, according to Alan Grayson a congressman from Florida.  Mr. Grayson is proposing legislation to protect citizens rights from being trampled by an avalanche of corporate money.  The first amendment guarantees citizens that no one shall abridge or prohibit the free and open expression of ideas.  Unfortunately money speaks the loudest and facilitates access to media channels and distribution. The free and open internet provides an individual little protection.  The tussle in China between Google and the government is an instructive warning of what we can expect to occur as corporate control of the internet grows.  It is an indication of a growing rift born from competitive postures of power capitalist institutions.

Our birthright of liberty was orphaned by a pervading cynicism and the seeming ambivalence of citizens who cared little for the rights democratic republics confer and understood less about the responsibilities required to guard them.  The decision by the Supreme Court is a watershed event.  Our political culture has changed.  The United States model for governance is moving closer to the Chinese model of governance.  The state capitalism of the United States is is a mirror image replication of the Chinese model.  A ruling oligarchy of economic interests acting in concert with its hand picked governmental representatives is common to them both.

Did we awaken this morning to the sober realization that American’s best hope is a trust in a benevolent corporate paternalism?  Can we believe that the rule of unencumbered enlightened capitalists is the way to realize the promises of a post scarce society? Can we still believe in the promise that innovation and social progress  and our democratic impulses will continue to inform America’s historical evolution?  Has America and the rest of the world arrived at a tipping point, a harbinger of a dystopian future where property right trumps human rights and the hard edges of economic deprivation, class marginalization and political disenfranchisement are ills that continue to infect society.  We need a doctor.  We need a strong antibiotic to cure this disease metastasizing in the body politic.

You Tube Music Video: Tennessee Ernie Ford: 16 Tons

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January 22, 2010 Posted by | China, Civil Rights, corruption, culture, democracy, economics, elections, environment, Federalism, government, infrastructure, institutional, LGBT, military, politics, private equity, psychology, regulatory, taxation, war | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

Too Much Sugar

I’ve heard that too much sugar can lead to diabetes. If you take too much of it over a long period of time it alters your body chemistry and produces an imbalance that leads to this dangerous and life threatening disease. Once you have contracted the disease and if it remains untreated it takes an awful toll on your body. As the disease progresses doctors start to cut off fingers and toes to try to arrest a growing gangrene. In its final stages of the disease, the diabetes sufferer sacrifices legs and arms to the surgeon’s knife in order to keep the body alive. Its a terrible disease and it leads to an ugly death.

I believe that the disease of diabetes is a fitting metaphor for our current economic crisis. The last 20 years have been a sweet run for our nation. We denied ourselves nothing. The economic and political powers let us eat cake. They never asked or suggested that maybe we need a diet or should alter our consumption because of our overindulgence and our inability to stop. The large financial institutions were never asked to stop taking great risks and vigorously fought oversight and regulation. Our elected officials never denied themselves a privilege or opportunity to serve the interest of their paymasters.

This nations citizens over indulged and gorged themselves on unbridled consumerism fueled by the perception of an infinite credit limit and an insistence on a sense of entitlement. People believed that the rampant acquisition of houses, cars, cloths, gadgets and leisure accoutrement’s had no limits and the party would never end. Hell as the Iraq War developed W insisted it was a patriotic duty to run up our credit card balances at the Mall Of America.

The Masters of the Universe on Wall Street set another dangerous example for the world to follow. They too indulged in an orgy of speculation that created unimaginable levels of riches for themselves. They gave no thought to the extensive collateral damage their financial transactions and structured products would create. They truly believed that everyone could live in a McMansion if only they had more faith in free markets.

Our elected officials believed the highest expression of patriotism would be to send tribute to finance their reelection. They prostituted themselves to any special interest lobby group for as little as a cheap junket to the nearest exotic offshore isle. They sold their votes and sold out their constituents to line the pockets of special interests with taxpayer money. Party leaders like Tom “The Hammer” DeLay is actually on trial for money laundering. DeLay now claims that he was unfairly victimized by the anti-money laundering provisions of the Patriot Act. Its either a supreme sublime irony or a startling cosmic karmic correction depending on your political bias.

So here we sit today. Rudderless, bereft of political leadership. Waiting for the next cut. Everyone should start searching the deep recesses of their sofas to look for some loose change. We might need it to help get us through this crisis. I fear it won’t be enough to avoid the next slash of a surgeons knife to cut out the growing gangrene metathesizing in our body politic.

Music: Eurythmics, Sweet Dreams Are Made Of This

Risk: depression, existential dread, consumerism

September 30, 2008 Posted by | Bush, credit crisis, culture, economics, pop | , , , , , , , | Leave a comment