{"id":58302,"date":"2021-06-18T15:58:57","date_gmt":"2021-06-18T20:58:57","guid":{"rendered":"https:\/\/olduvai.ca\/?p=58302"},"modified":"2021-06-18T15:58:57","modified_gmt":"2021-06-18T20:58:57","slug":"usa-2021-capitalism-for-the-powerless-crony-socialism-for-the-powerful","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=58302","title":{"rendered":"USA 2021: Capitalism for the Powerless, Crony-Socialism for the Powerful"},"content":{"rendered":"

USA 2021: Capitalism for the Powerless, Crony-Socialism for the Powerful<\/a><\/h3>\n

The only dynamic that’s even faintly “capitalist” about America’s Crony-Socialism is the price of political corruption is still a “market.”<\/i><\/p>\n

The supposed “choice” between “capitalism” and “socialism” is a useful fabrication masking the\u00a0worst of all possible worlds<\/i>\u00a0we inhabit: Capitalism for the powerless and Crony-Socialism for the powerful.<\/b>\u00a0Capitalism’s primary dynamics are reserved solely for the powerless:\u00a0market price of money, capital’s exploitive potential, free-for-all competition and creative destruction<\/i>.<\/p>\n

The powerful, on the other hand, bask in the warm glow of socialism:<\/b>\u00a0The Federal Reserve protects them from the\u00a0market cost of money<\/i>–financiers and the super-wealthy get their money for virtually nothing from the Fed, in virtually unlimited quantities–and the Treasury, Congress and the Executive branch protect them from any losses:\u00a0their gains are private, but their losses are transferred to the public<\/i>. The Supreme Court ensures the super-rich maintain this cozy crony-socialism by ensuring they can\u00a0buy political power<\/i>\u00a0via lobbying and campaign contributions–under the laughable excuse of\u00a0free speech<\/i>.<\/p>\n

Cronies get\u00a0the best political system money can buy<\/i>\u00a0and you–well, you get to carry a sign on the street corner, just before you’re hauled off to jail for\u00a0disturbing the peace<\/i>\u00a0(and you’re banned by social media\/search Big Tech, i.e.\u00a0privatized totalitarianism<\/i>, for good measure).<\/p>\n

The Federal Reserve is America’s\u00a0financial Politburo<\/i>: cronies get a free pass, the powerless get nothing.<\/b> While the three billionaires who own more wealth than the bottom 165 million Americans can borrow unlimited sums for next to nothing thanks to the Fed (i.e. Crony-Socialist Politburo), the 165 million Americans pay exorbitant interest on payday loans, used car loans, student loans, credit cards and so on.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

USA 2021: Capitalism for the Powerless, Crony-Socialism for the Powerful The only dynamic that’s even faintly “capitalist” about America’s Crony-Socialism is the price of political corruption is still a “market.” The supposed “choice” between “capitalism” and “socialism” is a useful fabrication masking the\u00a0worst of all possible worlds\u00a0we inhabit: Capitalism for the powerless and Crony-Socialism for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[111,24078,31352,587],"class_list":["post-58302","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-capitalism","tag-charles-hugh-smith-2","tag-crony-socialism","tag-of-two-minds"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58302"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58302\/revisions"}],"predecessor-version":[{"id":58303,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/58302\/revisions\/58303"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}