Monday, November 3, 2008

Quoth John Cusack

From HuffPo
The era of market idolatry is over.

This is the end of Milton Friedman, Reaganomics and supply-side theory. This ideology has never been about free markets but a fundamentalist vision that is a cover for naked aggression and a social contract based on fear and greed. The government's job is to create optimal conditions for corporate profit, to privatize everything in sight and to sell off its own body parts. To literally devour itself.

So we have laws that allow borrowing money against derivatives -- basically a bet between two people who create nothing without collateral. They leveraged the public financial health on something you wouldn't be allowed to do in Vegas. It illustrates the corruption that has become institutionalized through deregulation and a culture of predatory greed. Alan Greenspan testified that he was shocked: business didn't regulate itself. The common good was not achieved by greed. Naomi Klein read him the definition of crony capitalism and asked if it fit the description of the Bush administration's relationship to its favorite corporations.

I suppose he was shocked about that too. His testimony was incredible and felt like it was coated in lies or at least standing deeply in their shadows. But one doesn't doubt him as a true believer, absolved of messy feelings of collective responsibility. We made him a high priest even though we saw the suffering and the cruelty of the system.

The final irony of the free-market Darwinist model is instead of the strongest and best surviving, it's really the weakest and the worst. From a moral and spiritual point of view this is hardly in doubt. See George Bush. The gospel he purports to serve tells us this but perhaps he saw Christ as a conqueror. I've always doubted men who call themselves Christians who live by the law of the jungle. The gospels, the Koran and the Torah make no bones about it: wealth is not strength; power often represents not the brightest and the best but the weakest and worst. The beast in the Book of Revelation is not a horn-rimmed devil but Rome. Empire. Any empire. Every empire.


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