Willful blindness

I’ve been reading from the financial press for a few decades now, and I’m struck by the peculiar inversion of truth in the story line printed for the public. Today, ‘markets’ are said to be ‘shaking’ because of ‘concerns’ about Europe. This is not just how the lay person is supposed to see it. This is apparently what  professional pundits believe. But I don’t think it’s how it works.

Most ‘financial instruments’ in the world are owned by a small number of acquaintances – not by ‘investors.’ The ‘concerns’ about Europe are really just the machinations of the super-wealthy, trying to extract as much capital from those societies as possible without running into real political trouble. (The sword is, after all, more powerful than the printed currency). It was known years ago the available cash would be in Europe now, and it’s known now the available cash will be in the U.S. before long. The thing is, pulling out the ‘available cash,’ to the wealthy, means devastation to everybody else.

Still, we all want to talk about this like it’s some sort of science; like it’s the inevitable outcome of billions of independent ‘financial decisions.’ I think we’re too scared to look the other way. If it’s not impersonal science, then just about everything we believe about governing, at least in the U.S., is bogus. But what’s the alternative?

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