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[–] 16 points 1 day ago (5 children)

The US just turned neo-nazi for a full two years. We're totally putting on the reich right now. We even have fucking concentration camps.

And we started a stupid war putting the entire global economy into an energy crisis. And we're in an affordability crisis with skyrocketing inflation. Americans can't afford food and fuel and are skipping medications.

And the US is betraying its NATO allies and sucking off Putin. America is a Russian asset right now.

So let's back up a bit. We've been making late-stage capitalism noises since the beginning of the century, after the dot-com bubble. Then came the subprime mortgage crisis. We passed some laws to prevent financialization shenanigans, then we repealed those laws. With quality of life in the shitter, young whites put Trump into office. Then COVID-19, and then since things still weren't better, racism was back on the menu, again.

But now, billionaires -- who got rich through financialization (that is fancy fraud-flavored rent-seeking) -- are trying to dismantle democracy and create an authoritarian state while fast-tracking the automation of the entire workforce. And they're not yet finished plundering the US treasury and its credit line, yet they're already starting after the rest of the developed world, long softened by (you guessed it) neoliberal capitalism.

Capitalism has fucking failed. We can try to reconstruct a market economy, but so long as we allow for a plutocratic class, it's going to fail, and eventually the aristocrats will succeed to contain the rest of the workforce, and work us to death like slaves at a sugar plantation.

So maybe we don't want to do what the Soviet Union did, exactly, but we don't really want to do what the US and colonial Europe did either.

(And to be fair, every time someone tried to create a democratic Leninist state, colonial forces, usually the US, were right there to topple their government and erect a puppet dictatorship that allowed business interests to plunder natural resources. Heck, Wilson called the international community, a lot of it still colonial monarchies, to sanction USSR as soon as the Red Army won. Capitalism is a plague of parasites.)

Maybe pull together some Keynesian economists and build a social strategy? I don't know. I'm not an expert, but I listen to Paul Krugman, Richard J Murphy and Robert Reich. They have ideas.

But to quote the hairdresser recently on Last Week Tonight (on YouTube, ~23:43), At this point what do we have to worry about? Anything but what we have. We're on our way to Hell.

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  • [–] 5 points 15 hours ago (3 children)

    Keynesian economics helped bring capitalism to the late stage. The central premise is to cause inflation so that workers are encouraged to invest in businesses, growing the overall economy. Which it did! The economy has grown drastically... but we don't own it.

    Keynes suggested that we spend the inflation money on public works, not guaranteed returns for people with so much money that they can lock it away in bonds. It's an idea that requires a functioning democracy while constantly funneling money away from workers. We're creating all these bubbles because people want to save for the future but everything is a scam. Keynes didn't realize that what he was asking for was free information that we don't have.

    Keugman and other modern Keynesians generally mean well. But they're incredibly dangerously wrong, and we never should have listened to them.

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  • [–] 1 point 9 hours ago (2 children)

    Sadly the alternative we've been given is supply-side propaganda, which is trickle-down with fairy dust.

    As I said, I'm not a not a Nobel laureate economist, but I bet Krugman sees the Keynes model as exactly that, a model, to be adjusted with observable facts. And we now have a lot of history, so I can assume we have a better model.

    This might be one of those moments where perfect is enemy of the good. If we fail to make changes quickly, we may not have an economy left to save, and US and EU will have great famines in the history books.

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  • [–] 1 point 8 hours ago (1 child)

    Which changes quickly? If we don't stop the concentration of wealth by addressing its root causes, then all of this will happen again.

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  • [–] 1 point 3 hours ago

    This batch of plutocrats have enough wealth, and maybe the technology to autocracize the entire world and contain and control the entire working-class population of yhe earth. At least they are frantically trying to develop and deploy that technology already.

    Their propaganda machine is already massive and effective at isolating and indoctrinating its victims.

    If we don't stop them soon, we may never have another chance.

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  • [–] 3 points 18 hours ago

    Well stated.

    Anarchist add that the state works in concert with capital to protect property rights which are state enforced theft. Socialism can only be acheived by dismantling domination heirarchies i.e. capital and the state. Anything less will result in "aristocrats will succeed to contain the rest of the workforce, and work us to death like slaves at a sugar plantation".

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