Donald Andrew Henson II

Posts Tagged ‘The 99%’

Two Prophets of the End Times

In American Economy, American Society, Current events on February 23, 2014 at 11:10 pm

The Transfiguration

I would call most of what I do on this blog ‘commenting’ – I have a look at what people are saying and doing, and talk about how I think it’s good or bad for America. I like to play the Devil’s Advocate, questioning concepts that we take for granted, looking at the bad ideas that are often floating around, extending them out to their often frightening logical conclusions, wondering aloud how our society could be better if we could just break out of lazy, routine habits of thought. I do not believe that our future as a nation has already been decided by an all-knowing deity somewhere at the center of the cosmos; we, ourselves, will decide our own future, either through purposeful action or blind inaction, for good or ill.

Sometimes, however, while looking for something germane on which to comment, I encounter a real prophet. In doing some research about Scots-Irish immigration to America, I ran across an irreverent essay written by Joe Bageant, How the Scots Irish Screwed Up America. That’s actually the subtitle; I’ll warn gentle readers that the main title might offend. Bageant’s writings show an understanding of the plight of the used-to-be middle class better than other I’ve read. Here’s an excerpt from his essay Waltzing at the Doomsday Ball that truly explains our economic problems today:

“As an Anglo European white guy from a very long line of white guys, I want to thank all the brown, black, yellow and red people for a marvelous three-century joy ride. During the past 300 years of the industrial age, as Europeans, and later as Americans, we have managed to consume infinitely more than we ever produced, thanks to colonialism, crooked deals with despotic potentates and good old gunboats and grapeshot. Yes, we have lived, and still live, extravagant lifestyles far above the rest of you. And so, my sincere thanks to all of you folks around the world working in sweatshops, or living on two bucks a day, even though you sit on vast oil deposits. And to those outside my window here in Mexico this morning, the two guys pruning the retired gringo’s hedges with what look like pocket knives, I say, keep up the good work. It’s the world’s cheap labor guys like you — the black, brown and yellow folks who take it up the shorts — who make capitalism look like it actually works. So keep on humping. Remember: We’ve got predator drones…. 

Capitalism is about one thing: aggregating the surplus productive value of the public for private interests. As we have said, it is about creating state sanctioned “investments” for the workers who produce the real wealth. Things like home “ownership” and mortgages, or stock investments and funds to absorb their retirement savings. That crushing 30-year mortgage with two refis is an investment. So is that 401K melting like a snow cone (on) the beach.

As the people’s wealth accumulates, it is steadily siphoned off by government and elite private forces. From time to time, it is openly plundered for their benefit by way of various bubbles, depressions or recessions and other forms of theft passed off as unavoidable acts of nature/god. These periodic raids and draw downs of the people’s wealth are attributed to “business cycles.” Past periodic raids and thefts are heralded as being proof of the rationale. “See folks, it comes and goes, so it’s a cycle!” Economic raids and busts become “market adjustments.” Public blackmail and plundering through bailouts become a “necessary rescue packages.” Giveaways to corporations under the guise of public works and creating employment become “stimulus.” The chief responsibility of economists is to name things in accordance with government and corporate interests. The function of the public is to acquire debt and maintain “consumer confidence.” When the public staggers to its feet again and manages to carry more debt, buy more poker chips on credit to play again, it’s called a recovery. They are back in the game.

Dealer, hit me with two more cards. I feel lucky….”

Unfortunately, Joe passed away in March, 2011, so his prophecies have come to an end. I am enjoying the work he left behind little bits at a time so that I can savor every word. If you haven’t yet read Deer Hunting with Jesus, grab a copy; he really understands what makes America’s white underclass tick.

Still alive and kicking – and seemingly as mad as a hornet – is another doomsday prophet, James Howard Kunstler. Where Bageant seems annoyed, Kunstler is truly pissed off. And, like any good prophet, he predicts a host of calamities that will soon beset the world order as we know it. If you want to know how 2014 is going to turn out, have a look at a Burning Down the House, a recent post on his blog, the title of which, once again, may offend the gentle reader. Here’s a sampling of some of his least frightening observations:

“Sorry to skip around, but a few stray words about the state of American culture. Outside the capitals of the “one percent” — Manhattan, San Francisco, Boston, Washington, etc. — American material culture is in spectacular disrepair. Car culture and chain store tyranny have destroyed the physical fabric of our communities and wrecked social relations. These days, a successful Main Street is one that has a wig shop and a check-cashing office. It is sickening to see what we have become. Our popular entertainments are just what you would design to produce a programmed population of criminals and sex offenders. The spectacle of the way our people look —overfed, tattooed, pierced, clothed in the raiment of clowns — suggests an end-of-empire zeitgeist more disturbing than a Fellini movie. The fact is, it simply mirrors the way we act, our gross, barbaric collective demeanor. A walk down any airport concourse makes the Barnum & Bailey freak shows of yore look quaint. In short, the rot throughout our national life is so conspicuous that a fair assessment would be that we are a wicked people who deserve to be punished.” 

Old Testament doomsayers such as Ezekiel or Nehemiah could hardly have said it any better. Is anyone paying attention?

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Also, check out my newest blog – nevercomingback – for tales from my travels abroad.

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I am a job creator: A manifesto for the entitled – Steven Pearlstein

In 2012 Election, American Economy, American Society on October 2, 2012 at 12:48 pm
IMG_0273 PAY

Photo credit: changsterdam

Steven Pearlstein, writing for the Washington Post, has really hit the nail on the head. While the rest of us are supposed to be grateful for a job that might pay the bills if we can get a bit of overtime, the rich think we’re just lazy sloths looking for handouts – the 47%. They, on the other hand are what keeps the country going.

When did ‘entitled’ become an adjective used to describe the working poor? Pearlstein puts the word back into its proper context with this post. I was so impressed that I’ve copied it in it’s entirety – or you can link to the original at WaPo.

I am a job creator: A manifesto for the entitled – The Washington Post.

I am a corporate chief executive.

I am a business owner.

I am a private-equity fund manager.

I am the misunderstood superhero of American capitalism, single-handedly creating wealth and prosperity despite all the obstacles put in my way by employees, government and the media.

I am a job creator and I am entitled.

I am entitled to complain about the economy even when my stock price, my portfolio and my profits are at record levels.

I am entitled to a healthy and well-educated workforce, a modern and efficient transportation system and protection for my person and property, just as I am entitled to demonize the government workers who provide them.

I am entitled to complain bitterly about taxes that are always too high, even when they are at record lows.

I am entitled to a judicial system that efficiently enforces contracts and legal obligations on customers, suppliers and employees but does not afford them the same right in return.

I am entitled to complain about the poor quality of service provided by government agencies even as I leave my own customers on hold for 35 minutes while repeatedly telling them how important their call is.

I am entitled to a compensation package that is above average for my company’s size and industry, reflecting the company’s aspirations if not its performance.

I am entitled to have the company pay for breakfasts and lunches, a luxury car and private jet travel, my country club dues and home security systems, box seats to all major sporting events, a pension equal to my current salary and a full package of insurance — life, health, dental, disability and long-term care — through retirement.

I am entitled to have my earned income taxed as capital gains and my investment income taxed at the lowest rate anywhere in the world — or not at all.

I am entitled to inside information and favorable investment opportunities not available to ordinary investors. I am entitled to brag about my investment returns.

I am entitled to pass on my accumulated wealth tax-free to heirs, who in turn, are entitled to claim that they earned everything they have.

I am entitled to use unlimited amounts of my own or company funds to buy elections without disclosing such expenditures to shareholders or the public.

I am entitled to use company funds to burnish my own charitable reputation.

I am entitled to provide political support to radical, uncompromising politicians and then complain about how dysfunctional Washington has become.

Although I have no clue how government works, I am entitled to be consulted on public policy by politicians and bureaucrats who have no clue about how business works.

I am entitled to publicly criticize the president and members of Congress, who are not entitled to criticize me.

I am entitled to fire any worker who tries to organize a union. I am entitled to break any existing union by moving, or threatening to move, operations to a union-hostile environment.

I am entitled to a duty of care and loyalty from employees and investors who are owed no such duty in return.

I am entitled to operate my business free of all government regulations other than those written or approved by my industry.

I am entitled to load companies up with debt in order to pay myself and investors big dividends — and then blame any bankruptcy on over-compensated workers.

I am entitled to contracts, subsidies, tax breaks, loans and even bailouts from government, even as I complain about job-killing government budget deficits.

I am entitled to federal entitlement reform.

I am entitled to take credit for all the jobs I create while ignoring any jobs I destroy.

I am entitled to claim credit for all the profits made during a booming economy while blaming losses or setbacks on adverse market or economic conditions.

I am entitled to deny knowledge or responsibility for any controversial decisions made after my departure from the company, even while profiting from such decisions if they enhance shareholder value.

I am entitled to all the rights and privileges of running an American company, but owe no loyalty to American workers or taxpayers.

I am entitled to confidential information about my employees and customers while refusing even to list the company’s phone number on its Web site.

I am entitled to be treated with deference and respect by investors I mislead, customers I bamboozle, directors I manipulate and employees I view as expendable.

I am entitled to be lionized in the media without answering any questions from reporters.

I am entitled to the VIP entrance.

I am entitled to everything I have and more that I still deserve.