Chomsky Explains Global Order Of Power & Privatization Of Planet-"Elections have become a charade"

[kpete]

Is the world too big to fail?
Noam Chomsky explains how the global order of power has been created and describes the mechanisms behind its continuity.

"propaganda must seek to blame others, in the past few months, public sector workers, their fat salaries, exorbitant pensions, and so on: all fantasy, on the model of Reaganite imagery of black mothers being driven in their limousines to pick up welfare checks...."

Privatising the planet

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Elections have become a charade, run by the public relations industry. After his 2008 victory, Obama won an award from the industry for the best marketing campaign of the year. Executives were euphoric. In the business press they explained that they had been marketing candidates like other commodities since Ronald Reagan, but 2008 was their greatest achievement and would change the style in corporate boardrooms. The 2012 election is expected to cost $2bn, mostly in corporate funding. Small wonder that Obama is selecting business leaders for top positions. The public is angry and frustrated, but as long as the Muasher principle prevails, that doesn't matter.

While wealth and power have narrowly concentrated, for most of the population real incomes have stagnated and people have been getting by with increased work hours, debt, and asset inflation, regularly destroyed by the financial crises that began as the regulatory apparatus was dismantled starting in the 1980s.

None of this is problematic for the very wealthy, who benefit from a government insurance policy called "too big to fail." The banks and investment firms can make risky transactions, with rich rewards, and when the system inevitably crashes, they can run to the nanny state for a taxpayer bailout, clutching their copies of Friedrich Hayek and Milton Friedman.

That has been the regular process since the Reagan years, each crisis more extreme than the last - for the public population, that is. Right now, real unemployment is at Depression levels for much of the population, while Goldman Sachs, one of the main architects of the current crisis, is richer than ever. It has just quietly announced $17.5bn in compensation for last year, with CEO Lloyd Blankfein receiving a $12.6m bonus while his base salary more than triples.

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more:
http://english.aljazeera.net/indepth/opinion/2011/09/201192514364490977.html

[Fire Walk With Me]

1. Yeah, it's like when Neil Bush helped crash the Silverado S&L. Taxpayers shared the burden, not him/

them.

Never forget there's a hidded, semi-forgotten Bush: Neil Bush. Disaster runs deep in this family.