The beginning of the end of “Downton Abbey” Capitalism
The signs are everywhere, from the elitist rants of Hillary Clinton (Should somebody mention to Hillary that deplorables isn’t a word) to the rants of Prince Alwaleed, a citizen of an Islamic dictatorship that called our presidential candidate “disgraceful” to Meryl Streep, who criticized Mr. Trump and gave the child rapist Roman Polanski a standing ovation.
The latest sign though, for me, was the mega millionaire Bill Gross, the “bond king” who made a killing sitting on bonds while interest rates went on a 20-year plunge. He recently said, effectively, that Trump will be a failure because corporate profits will drop.
This is how these people think. The purpose behind America is to grow corporate profits. Forget the fact that the lion’s share of these “profits” are being used to buy back stock and make senior management richer, we worship at the altar of corporate profits, nonetheless.
For me, Downton Abbey was a particularly vexing show. Don’t get me wrong, I loved it. It was a great TV show…. but…. first, it sneakily portrayed the British Royals as actually giving a shit about their ‘subjects’. If they cared so much, why did their servants have to walk in halls behind walls so they didn’t have to look at them? Why did so many Brit’s embrace Hitler? Second, it glamorized that time. At a time that John Maynard Keynes described as ‘great” for Britain, 12 million people left the country.
In 1900, 95% of England’s land was owned by 400 families. Much of the rest of the country lived in abject squalor. Even today, large swaths of Wales, Scotland and Ireland are poor by western standards.
Free trade, I’m sorry to say, doesn’t work. It has never worked anywhere it’s ever been tried. First, for the most part, it doesn’t exist. The whole idea that you can have free trade and currency pegs is so mindless that, frankly, only an Ivy League economist would believe it. Second, it leads to imbalances. Countries cannot run trade deficits or surpluses forever. A trade deficit is simply another way to borrow money. Eventually the banks that lend end up failing. Finally, it is devastating to populations. The same free trade forces that sent 14 million Africans to sugar plantations in south America and the Antilles, uprooted and sent hundreds of thousands of rural Chinese to work in I-phone factories in China where they live in dormitories and have no lives.
Most people don’t recognize these changes until it hit’s their wallet, which has finally happened. It doesn’t occur to them that the collapse of Egypt and the lawlessness of the once peaceful Sinai Peninsula are caused by free trade or that war drums in Asia between China, Taiwan, India, Japan and Vietnam are also. There’s only one way for free trade to end. Cliff diving.
Of course, the worse effect of free trade has been on Global Climate Change. Whether you believe the earth is warming or not, it’s clear the biggest contributor to pollution is free trade. China produces 250% more CO2 than the USA. They have wiped out their aquifers, ruined their farmland and are killing their people. It’s been estimated that 1 in 5 Chinese die of soot induced respiratory failure. China uses 8X more coal than the USA. China’s expansion has been almost entirely due to their ability to capitalize their banks using US treasury securities. (A topic for another article)
When “analysts” tell us corporate profits are high, they’re not talking about ALL corporations, they’re talking about the Downton Abbey top, the 500 that make up the S&P. The sad fact, according to the feds Flow of Funds Statement, (1) is that actual US corporate profits haven’t gone up since 2012. Either way, high corporate profit isn’t a sign of success in an economic system, it’s a sign of Downton Abbey Capitalism. A sign that the top 500 corporations, like their 400 English royal families in 1900 have absconded with all the money.
The whining you hear from Hollywood, corporations and the media is their reaction to the people finally realizing that they’re being screwed. Barack Obama is the first president in history to use the Internal Revenue Service to stop a racial group, white southern tea partiers, from forming a political movement. The same government that would not allow them to form a non-profit, allows Media Matter’s, a totally partisan political organization run by Clinton organizer David Brock to operate as a 501(3)C charity! (2)
The same government actors that complain about the electoral college seem oblivious to the fact that without it, the entire center of the United States, an area totally devastated by free trade would have no representation in the Federal Government at the Presidential level whatsoever. If the pro-corporate guy wins, they call it democracy. If the anti-corporate guy wins, they call it populism. In this process, our government/corporate media has become a collection of altar worshipping leeches.
The fact that the left supports this should surprise no one. They always have cheered on tyrants, from Stalin, Hitler, Mao and Castro, to more recent additions like the Sandanista’s, Chevez and the bankers that run southern Europe. The Downton Abbey crowd fashions themselcves as rulers. Their role model is Hugh Bonneville, and their hobby is playing dress-up.
In the mid 1930’s, British prime minister Neville Chamberlain realized that trade agreements had wiped out England’s ability to build its military. The country that had invented manufacturing couldn’t build its own airplanes. He went on a building spree, rebuilding England’s infrastructure so they could defend themselves. He is remembered in history as being the coward that kowtowed to Hitler.
Will Mr. Trump suffer the same fate? By all indications of the main stream press, that seems likely.