Click amount to donate direct to CounterPunch
  • $25
  • $50
  • $100
  • $500
  • $other
  • use PayPal
DOUBLE YOUR DONATION!
We don’t run corporate ads. We don’t shake our readers down for money every month or every quarter like some other sites out there. We provide our site for free to all, but the bandwidth we pay to do so doesn’t come cheap. A generous donor is matching all donations of $100 or more! So please donate now to double your punch!
FacebookTwitterGoogle+RedditEmail

Neoliberalism or Death!

US President Barack Obama’s State of the Union (SOTU) address was a somewhat surrealist spectacle. Way beyond avalanches of PR spin, the US government for a long time has not exactly done wonders for the public good. So as it advertises itself in front of a dysfunctional US Congress dismissed as repellent by an overwhelming majority of Americans – including, and expanding, on those 76% who are living paycheck to paycheck – what’s left is a grand, old Hollywood production.

And Obama, of course, is a decent actor who can deliver a decent speech – certainly better than Ronnie Reagan, whom Gore Vidal used to describe as “the acting president”.

The key theme of SOTU 2014 was the appalling income inequality in the US. Call it an appendix of this past week at the World Economic Forum in Davos – that snowy Vegas for the 0.00001% – in which the Masters of the Universe finally “discovered” inequality. So much inequality, in fact, that 2014 was instantly tagged by the Masters – and Japanese Prime Minister Shinzo Abe – as the new 1914, all that furiously tweeted to all corporate boardrooms of the liquid modernity elite.

As Obama got into his groove, he proclaimed that Obamacare had won; that he would resort to ruling by executive order to get things done; and that a mixed salad of platitudes and vague proposals/generalities attested to the imminent success of his agenda of improving “opportunity” as the only answer to fighting inequality. Oh yes; and that the American Dream was not in a coma.

No word, of course, about the “gentle”, progressive dismantling of what’s left of US democracy, via the Orwellian/Panopticon complex, through which 0.00001% elite rule is painfully achieved in a sanitized Total Information Awareness (TIA) environment. With the US government in total control of the Internet, that once-upon-a-time dream – the revolution will be televised – won’t happen even on the web.

Neoliberalism or death

In the absence of the late, great Howard Zinn, Americans now have to put up with historic Clintonista Robert Reich. Reich may be correct on two of his reasons for the American malaise.

With the US working class paralyzed and fearful of losing their jobs (labor unions have been virtually destroyed), and with students mired in horrendous debt (even as the average starting salary for graduates has been dropping steadily), two key vectors of protest are neutralized.

But Reich is wrong on his third reason – that over 80% of US public opinion distrusts government so much that they have given up on any possibility of reform.

The key point would be to examine how American turbo-financial capitalism has been drifting since the mid-1970s. The point is not that a cabal of medievalist Republicans, evil corporate CEOs (and their handpicked pols), plus Wall Street is in charge. The point is to examine how demented financial asset speculation plus a demented inflation of dodgy financial securities have been the defining features of the US and global system.

This would imply a hardcore critique of advanced capitalism – which in fact is neither “advanced” nor really capitalism – that is absolute taboo in US corporate media. And the whole thing started even before the prophet Ronnie Reagan, then through Bubba Clinton and all the way to the Dubya/Obama continuum.

The latest graphic illustration is a system in which 85 people – packable in a London double-decker – own as much wealth as the bottom 50% of humanity. How’s that possible? A cursory examination of David Harvey’s groundbreaking A Brief History of Neoliberalism (Oxford University Press, 2005) would answer most questions – all related to such tricks as trickle-down economics, slashing taxes for the wealthy and corporations, the destruction of labor unions, lower real wages, job outsourcing, the disenfranchising of just about anyone who’s not part of the 0.00001%, and a free for all in the 0.00001% banking and finance casino. End result; a vortex of wealth concentration – which has absolutely nothing to do with democracy in a republic.

Good ol’ Uncle Marx would tell it for what it is: a class war. And the 0.00001% has won, hands down, fast and loose.

It’s easy to forget that Dubya inherited a sizable budget surplus. He then slashed taxes for the wealthy; presided over two horrendously expensive wars, one because he “had to bomb somebody” and the other a war of choice; and then he was the MC of the biggest Wall Street crash since the Great Depression.

And yes, it’s all about the Bush-Obama continuum. In Obama’s “recovery” era, asset values for the wealthiest 7% of Americans has shot up 28% while declining 4% for the rest.

At least 80% of US voters don’t want social programs to be cut so the budget can be balanced; they want more taxes on the wealthy and corporations. Obama instead cut from social security.

Then there’s the destruction of American cities; this study details how Detroit was screwed while the state of Michigan was spending a fortune on “business incentives”.

And to top it off, there’s the Jamie Dimon syndrome, as in the CEO of JP Morgan Chase, aka Obama’s “one of the smartest bankers we’ve got”. Even if the US’s number one bank has lost billions in dodgy toxic mortgage-backed securities, manipulated energy prices and even defrauded credit card customers, your CEO still gets a hefty bonus as the bank’s stock were up 21% in 2013.

Whether Obama played ball – small or otherwise – at the SOTU is irrelevant. Apart from flagrant absurdities on Iran, Syria and Israel-Palestine, and not a word on Russia and China, no wonder the climatic Hollywood tear-jerker sequence involved an Army Ranger almost killed by an improvized explosive device in Afghanistan. He was Obama’s living metaphor of “Yes We Can”, the 2014 remix.

Curiously, just before SOTU, the US government and the Pentagon leaked to the New York Times that if “a small number” (Obama) of US troops actually remain in Afghanistan, the CIA will continue to drone the tribal areas of Pakistan to oblivion, and will continue to use Afghan bases to spy on Pakistan.

So it’s all about the CIA’s dirty wars. Obviously none of the AfPak components want this state of affairs – so it looks like Obama’s heroes will have to beat the hell out of Dodge for good. Good for them, as they will be exchanging lethal IEDs for a new shot at the ultimate land of “opportunity.” Is that a fact? Yes, because POTUS said so.

Pepe Escobar is the author of Globalistan: How the Globalized World is Dissolving into Liquid War (Nimble Books, 2007) and Red Zone Blues: a snapshot of Baghdad during the surge. His new book, just out, is Obama does Globalistan (Nimble Books, 2009). He may be reached at pepeasia@yahoo.com

This column originally appeared on Asia Times.

More articles by:

Pepe Escobar is the author of Globalistan: How the Globalized World is Dissolving into Liquid War (Nimble Books, 2007), Red Zone Blues: a snapshot of Baghdad during the surge and Obama does Globalistan (Nimble Books, 2009).  His latest book is Empire of ChaosHe may be reached at pepeasia@yahoo.com.

October 23, 2018
Patrick Cockburn
The Middle East, Not Russia, Will Prove Trump’s Downfall
Ipek S. Burnett
The Assault on The New Colossus: Trump’s Threat to Close the U.S.-Mexican Border
Mary Troy Johnston
The War on Terror is the Reign of Terror
Maximilian Werner
The Rhetoric and Reality of Death by Grizzly
David Macaray
Teamsters, Hells Angels, and Self-Determination
Jeffrey Sommers
“No People, Big Problem”: Democracy and Its Discontents In Latvia
Dean Baker
Looking for the Next Crisis: the Not Very Scary World of CLOs
Binoy Kampmark
Leaking for Change: ASIO, Jakarta, and Australia’s Jerusalem Problem
Chris Wright
The Necessity of “Lesser-Evil” Voting
Muhammad Othman
Daunting Challenge for Activists: The Cook Customer “Connection”
Don Fitz
A Debate for Auditor: What the Papers Wouldn’t Say
October 22, 2018
Henry Giroux
Neoliberalism in the Age of Pedagogical Terrorism
Melvin Goodman
Washington’s Latest Cold War Maneuver: Pulling Out of the INF
David Mattson
Basket of Deplorables Revisited: Grizzly Bears at the Mercy of Wyoming
Michelle Renee Matisons
Hurricane War Zone Further Immiserates Florida Panhandle, Panama City
Tom Gill
A Storm is Brewing in Europe: Italy and Its Public Finances Are at the Center of It
Suyapa Portillo Villeda
An Illegitimate, US-Backed Regime is Fueling the Honduran Refugee Crisis
Christopher Brauchli
The Liars’ Bench
Gary Leupp
Will Trump Split the World by Endorsing a Bold-Faced Lie?
Michael Howard
The New York Times’ Animal Cruelty Fetish
Alice Slater
Time Out for Nukes!
Geoff Dutton
Yes, Virginia, There are Conspiracies—I Think
Daniel Warner
Davos in the Desert: To Attend or Not, That is Not the Question
Priti Gulati Cox – Stan Cox
Mothers of Exiles: For Many, the Child-Separation Ordeal May Never End
Manuel E. Yepe
Pence v. China: Cold War 2.0 May Have Just Begun
Raouf Halaby
Of Pith Helmets and Sartorial Colonialism
Dan Carey
Aspirational Goals  
Wim Laven
Intentional or Incompetence—Voter Suppression Where We Live
Weekend Edition
October 19, 2018
Friday - Sunday
Jason Hirthler
The Pieties of the Liberal Class
Jeffrey St. Clair
A Day in My Life at CounterPunch
Paul Street
“Male Energy,” Authoritarian Whiteness and Creeping Fascism in the Age of Trump
Nick Pemberton
Reflections on Chomsky’s Voting Strategy: Why The Democratic Party Can’t Be Saved
John Davis
The Last History of the United States
Yigal Bronner
The Road to Khan al-Akhmar
Robert Hunziker
The Negan Syndrome
Andrew Levine
Democrats Ahead: Progressives Beware
Rannie Amiri
There is No “Proxy War” in Yemen
David Rosen
America’s Lost Souls: the 21st Century Lumpen-Proletariat?
Joseph Natoli
The Age of Misrepresentations
Ron Jacobs
History Is Not Kind
John Laforge
White House Radiation: Weakened Regulations Would Save Industry Billions
Ramzy Baroud
The UN ‘Sheriff’: Nikki Haley Elevated Israel, Damaged US Standing
Robert Fantina
Trump, Human Rights and the Middle East
Anthony Pahnke – Jim Goodman
NAFTA 2.0 Will Help Corporations More Than Farmers
Jill Richardson
Identity Crisis: Elizabeth Warren’s Claims Cherokee Heritage
FacebookTwitterGoogle+RedditEmail