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Monday, August 8, 2011

Noam Chomsky: America In Decline

Tattered Flag
Noam Chomsky, despite the scorn and public beatings he has endured for his entire career, has stubbornly kept his wary eye upon the sociopathic behavior of the looting class (it is of no irony that these greedheads label the people who do not labor on their behalf "the looting class" - it is nice to be able to turn that around on them, with even the Mighty Wurlitzer of corporate media unable to drown out the truth of it.) This latest NY Times Syndicate op-ed from Professor Chomsky, America In Decline, is a particularly clear-eyed summary of where we are and how we got here.

Any who feel that they can bash Chomsky after reading this, well, we know on which side of the barricades they'll be found.

A few excerpts here, and go read the whole thing.
...the decline has proceeded since the high point of U.S. power after World War II, and the remarkable triumphalism of the post-Gulf War `90s was mostly self-delusion.

...American decline is in no small measure self-inflicted. The comic opera in Washington this summer, which disgusts the country and bewilders the world, may have no analogue in the annals of parliamentary democracy.

The spectacle is even coming to frighten the sponsors of the charade. Corporate power is now concerned that the extremists they helped put in office may in fact bring down the edifice on which their own wealth and privilege relies, the powerful nanny state that caters to their interests...

The self-inflicted blows, while increasingly powerful, are not a recent innovation. They trace back to the 1970s...

Before the 2007 crash for which they were largely responsible, the new post-Golden Age financial institutions had gained startling economic power, more than tripling their share of corporate profits. After the crash, a number of economists began to inquire into their function in purely economic terms. Nobel laureate Robert Solow concludes that their general impact may be negative: “The successes probably add little or nothing to the efficiency of the real economy, while the disasters transfer wealth from taxpayers to financiers.”

By shredding the remnants of political democracy, the financial institutions lay the basis for carrying the lethal process forward –
as long as their victims are willing to suffer in silence. (my emphasis)

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