Back when Obama was elected, I was still an A-list blogger, and had some access. We advised Obama and the Senators creating the new financial laws that the correct action was to take over the banks and break them up, while bailing out Main Street. Criminal charges should be laid against bankers under RICO statutes for fraud, to ensure nothing like this happened again.
If they did not follow our advice, we warned that it would eventually lead both a strengthening of the populist right and to civil unrest.
Of course, they didn’t take that advice, and given who Obama chose to run his administration that should hardly have been a surprise. Indeed, it was Obama who pushed TARP through after it failed the first time–Pelosi was not going to pass it if Republicans would not vote for it in equal percentages, and they wouldn’t. Obama twisted arms, and the reports I received were that the threats were absolutely savage. TARP was, though most Democrats will not admit it, ultimately Obama’s bill, whether it was originally Bush’s or not.
It is after the 2008 financial crisis that American pathology starts going off the charts: We start seeing declining life expectancy among the working class, the opiate crisis spreads to poor and many middle class whites, and so on. It takes years for jobs to return, and inequality soars; it was worse under Obama than any other previous president. Yes, this is a continuation of trend, but Obama could have stopped it, simply by enforcing laws as written.
The response to the financial crisis set the standard: Bail out the rich, fuck the poor people–they receive some crumbs. This was repeated when Covid-19 hit, with multi-trillion dollar bailouts for the rich, and a single $1,200 check for everyone else, with some technocratic fixes around the edges. Billionaires gained control over more of the economy, small businesses were and are being gutted, and crisis capitalists are waiting to snap up billions in distressed businesses and properties.
The rich get richer, the poor get poorer.
Meanwhile the neoliberal playbook, which was always about making the rich richer and everyone else poorer and about gutting the middle class the New Deal order built, kept the poors down by locking them up and with routing police brutality. Incarceration soared under neoliberal rulership, and Joe Biden was one of the architects, though you can see the trend starts under Reagan.
And so here we are, with protests and riots throughout the US. This was a long time coming, and it came because the lords and masters in the US refuse to throw anybody but the rich more than scraps. They funnel gold and caviar to the already wealthy at every opportunity; cat food to everyone else. They beat down anyone who acts uppity, giving cops massive license to be brutal, arming them with military weapons, and having them taught by Israelis whose experience is in beating down Palestinians in the occupied territories: people with no rights, regarded by Israelis as subhuman (no, don’t even pretend otherwise).
The cops see violence and brutality as their right. Any challenge to their authority is met with cruelty and abuse of power. They are fundamentally cowards, because they don’t believe their victims have any right to fight or even talk back. (Their essential cowardice has been proven when they are threatened, and is a weakness which could easily be exploited.)
Right now there is no reason to believe than any of the new Covid-19 bills will do more than give crumbs out. Food stamps are under threat of further restriction and, in New York, Governor Cuomo (whose popularity has increased despite his complete malign incompetence in handling Covid-19) used the crisis as part of his excuse to cut Medicaid, while keeping non violent offenders locked up in prison so that Covid could kill them.
Long and short, neoliberal elites don’t know how to give. They don’t have the instinct that New Deal elites, for all their flaws, had, that the job of government is prosperity for the masses. They know it is prosperity for the few, they feel in their bones that anyone who is poor doesn’t deserve more than a little bit of pity charity, and their instinct is punitive; the poor and middle class are undeserving and if they get uppity, what they need is a good smack.
Covid is not going to go away this summer. Multiple states have reopened without getting it even remotely under control. Testing has been reduced, but even so numbers show only minor decreases.
So we have a pandemic, a population nearing 30 percent unemployment, people who can’t pay the rent, and 40 years of impoverishment and brutality.
This summer has been a long time coming, and it’s only starting. Even if this wave of protests is crushed, or dies down, the smart money is that it isn’t the last wave.
And that’s a good thing.
Because as long as your lords and masters know they can only give you scraps and feed themselves at gold plated troughs, that’s how it’ll be.
If you are reading this, understand that this dynamic means that there can be no peace while the current ideology rules. The only possible peace is the peace of impoverished serfdom, of people beaten so far into the ground that they simply accept that everything will keep getting worse for them while the rich feast.
There is no good future for the US if neoliberalism, and neoliberal elites, continue to rule.
Take that into account in your planning.
And get ready for that long, hot summer.
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