Neoliberalism is Dead

Neoliberalism is Dead

 

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.

 

-       Section 2A Monetary Policy Objectives

 

By Gregg Wall (3-16-2024)

 

Neoliberalism is dead, buried – like an avalanche – under the crushing weight of bank & billionaire bailouts, corruption, failed duopoly, greed, predatory monopolies, oligarchy, and endless for-profit wars.  America increasingly reduced to the status of a banana republic, its government for sale and rent to the highest bidder.  So entirely corrupt & lost, so ignominious and yet foreseeable the fall, America fails to shock… perhaps the only thing surprising is how insular & thin the bubble Dem and GOP grandees, the MSM talking heads, and their owners all dwell within.  Entirely lost in the lies, fiction, and narratives they attempt to sell the public. 

 

Perhaps there’s no better example of America’s precipitous fall than the attack upon freedom of speech, as congress, in record-time, came together in near unanimous bipartisan support for the TikTok ban this week.  You know Washington and AIPAC have entirely lost the narrative (w/ far too many facts running directly counter to the American/Israeli storyline), and have no legitimate response, when they - like a despotic regime – have begun to outlaw speech and attack online communications & networking.  The lies are stacking up so fast… put out by the Biden administration, Bibi, & the MSM… that major news organizations no longer have any credibility.  Absolutely pathetic.  Seems that the majority of America’s youth, the under 35 crowd, no longer believe the Boomer establishment, the lies and the propaganda. Gerontocracy has grown fetid, rotted, high on its own supply, and lazy. 

 

What could have turned off the younger generations?  Perhaps it’s the endless wars, the cataclysmic national debt, the massive transfer of wealth and welfare to the connected and the powerful… or simply, the endless litany of lies and unfulfilled commitments Biden promised in 2020 to get elected.  Maybe it’s the predatory monopoly economy that destroy jobs, opportunity, innovation, and continually – w/ no reason other than greed – uses it totalitarian power to dictate prices, wages, government policy, and foreign policy.  It’s all a lie.  Everything we’ve been taught. Unelected, unaccountable Boardroom & C-suite dictatorships with horrific, unimaginable powers have turned the United States into a totalitarian state (with just the fig leaf of a failed, entirely corrupt, two-party system).  In the span of my lifetime, America went from having a thriving middle class to a two-tiered society: the haves and the have nots. 

 

The younger generations, they know.  They see with their own eyes how their parents live, or their grandparents lived.  They are willing to work and put in the time, but the opportunity is simply not there.  The economy is consolidated and w/ that consolidation, a large number of well-paying jobs are eliminated.  Child poverty is rising, suicides rising, the planet burning, tent cities growing more numerous, deaths of despair on the rise, greed – masquerading as inflation – has sent the cost-of-living spiraling out of control, obscene wage & wealth inequality, artificial and contrived scarcity… entirely manufactured… so a few can profit, and the icing on the putrid cake:  catastrophic national debt forever used as an excuse for endless austerity.  

 

 

 

 

 

 

The systemic corruption, the capture of the nation by a predatory few is deeply upsetting, unsettling, and is already setting off blowback, paroxysms, and a revolution in thinking and attitudes. Sclerotic, entirely corrupt leadership tends to have that effect.  And at the epicenter of all sits the Federal Reserve.  No other nation in the brief history of humanity has been gifted with so much power and privilege, as that afforded to the Federal Reserve; and no other nation in the brief history of humanity has squandered and wasted so much power and privilege in the span of a little over three decades (in a violent orgy of corruption & greed).  Unprecedented greed and corruption in the form of for-profit wars, for-profit empire, financed colonialism, privatization schemes, tax cuts for the uber-wealthy, the massive transfer of wealth, inflated asset values for the rich, endless Wall St bailouts, the aforementioned economic consolidation into a totalitarian economy, and the buyout of the U.S. government itself… all it funded by the Federal Reserve and monetary policy.  One endless supply of socialism and welfare mainlined into the arms of oligarchy, multinationals, and the political class; and one big F.U. to the American people, seventy-eight percent of which now live one pay check away from humility or are already on the streets. 

 

Neoliberalism is dead, flatlined, braindead… kept alive, in a zombie state, by an endless infusion of what Wall St likes to call ‘liquidity’ or in more common terms, bailout money.  As I noted last November, the U.S. economy is kept alive on an endless diet of money printing and war.  Otherwise, the economy is actually shrinking, failing to grow, and it certainly isn’t taking care of the vast majority of Americans.  Not only does the economy ride on unsustainable debt and aimless wars… but crushed and suppressed labor also keeps the house of cards afloat (with low wages and lousy benefits, see for-profit healthcare).  Someone has to pay for all those extravagant CEO pay packages and it's generally labor. 

 

Every time a crisis occurs the congress is bailed out of any tough decision making or choices, and the Federal Reserve steps in with a catastrophic flood of money and debt.  Every time the economy falls down, it’s understood that no questions are to be asked, and no scrutiny from the public or our ‘democratic government’ is to occur, so increasingly the Federal Reserve and monetary policy becomes the de facto solution. 

 

But if we carefully examine the FED policy objectives … endlessly bailing out our failed libertarian economy, endlessly propping up fiscal malfeasance, and financing catastrophic debt and wars… appears nowhere in the FED’s mandate.  Four successive FED chairs have enabled gross corruption, avarice, incompetence, and the abdication of responsibility & accountability, by both congress and America’s private sector. 

 

In fact, what can be clearly argued is that the FED’s monetary policies of continuously financing catastrophic debt and fraud, endless wars, limitless bailouts, bottomless corporate welfare, and billionaire & multinational entitlements… the consolidation of the economy into monopolies… has had disastrous consequences for the FED’s true mandate, that of maximum employment (of well paying jobs) and stable prices.  Funding the creation of a monopoly economy, via easy money, where unelected, unaccountable CEOs dictate prices, wages, and government policy … along with runaway national debt… clearly, is both detrimental and destructive to labor, families, children, the American people, and the long-term viability of the nation.  

 

America needs a new FED chair with a new outlook, and renewed commitment to FED policy, instead of the myopia that surrounds the latest four FED chairs… who constantly hold up labor as an excuse for bailing out a failed economic model, Wall St., and the perpetuation of a bankrupt status quo.  In summary, it’s long past time to cut up the Democratic and Republican parties’ credit card… for endless wars, empire, wholesale fraud & corruption, a failed supply-side paradigm, genocide, limitless private sector bailouts (with credit card privileges extended to oligarchy, multinationals, and Wall St).  

 

None of that is in the FED mandate. With the Congress cut off, real conversations can begin about what to do with the national debt run up by an ultra-corrupt gerontocracy, from taxing great wealth to writing down, slowly, the national debt (in whole or part), to eliminating billionaire entitlements.  Cuts to Social Security and Medicare should not be entertained. 

 

The American people have had enough fraud. 

 

Copyright JM Hamilton Publishing 2024