Wednesday, 1 September 2010



Vampire Capitalism


posted Tuesday, 31 August 2010
A neoliberal capitalist offensive is sucking us dry. Vampire capitalism wants the wholesale privatization of the public sector.

Financial capitalism produces nothing of real value. It's fatally hooked on ever-mounting rates of return, simultaneously divorced from and a parasite on the “real” economy.

With the executive and legislative branches in their pockets, the Lords of Capital are set to devour the entirety of the public sector – while forcing the public to finance the feast. The rallying cry is “austerity.”

Behind that lies the real motivation. A redistribution of wealth upwards. Screw the workers, increase our profits.

Financial capitalism is incapable of reproducing itself through productive investment, and so must feed on existing producers or on the State.

Since Wall Street over the decades has already broken up, consumed and exported much of the U.S. productive economy, that leaves the State and all of its parts.

Far from acting as a brake on his vampire friends, Obama leads the charge on corporate hijacking of the public sector dismantling the safety net that prevents th poorest from dying on the streets..

The pace of finance capital deterioration quickens, accelerating the timetable of the Right’s offensive. As the hunger grows, Wall Street’s servants become more aggressive and demanding, and there is nothing in the Democratic Party, as presently constituted, to stop them.

The Obama Boys have successfully shielded their Wall Street masters from anything worthy of the name financial reform. This means financial capitalism remains beyond the reach of meaningful public intervention by conventional methods.

With the air knocked out of mainstream reformers’ bony chests, Wall Street is poised for a Great Offensive against the political and social infrastructure of the United States.

Sound coalescingly familiar?

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