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The epic thrash we’re witnessing is because the forces of capitalism, seeing a terminal economic crash approaching, are attempting to preemptively replace democracy with authoritarianism—fascism—so that they can control the outcome.
When the economy in a democratic but capitalist country fails, there are two alternatives. You can modify the economic system. Or, you can modify the political system.
When you modify the economic system (capitalism) but retain the political system (democracy), you have the arrangement the U.S. has lived under since capitalism failed in the 1930s, in the Great Depression.
The other alternative is where the economic system (capitalism) is retained but the political system (democracy) is discarded and replaced with authoritarianism. This is fascism and is what happened in Germany, also in the 1930s.
The battle between capitalism and democracy is the conflict that is being fought out in the U.S. right now. The epic thrash we’re witnessing is because the forces of capitalism, seeing a terminal economic crash approaching, are attempting to preemptively replace democracy with authoritarianism—fascism—so that they can control the outcome. A quick look at history shows us the pattern.
n the 1930s, the U.S. experienced the greatest economic collapse in its history, the Great Depression. GDP fell by 25%. Bread lines became an iconic feature of the urban American landscape. Franklin D. Roosevelt put in place economic policies to mitigate the damage and prevent future collapses.
He put tens of millions of people to work through “alphabetical agencies” such as the Civilian Conservation Corps, the National Industrial Recovery Act, and the Works Progress Administration. He imposed FDIC requirements on banks and insured investor’ deposits. He separated commercial banking from investment banking and created unemployment insurance and Social Security.
The sum of Roosevelt’s policies saved capitalism from its own inadvertently attempted suicide. But not everybody was happy with Roosevelt’s reforms. A cabal of disgruntled bankers attempted a fascist coup d’ etat. It failed, because the man they had recruited to lead the coup, retired Marine General Smedley Butler, ratted them out to Congress. But the very fact of the attempted coup showed just how far capitalists will go to avoid constraints put on them by democracy.
The truly insidious goal is to destroy the public’s faith in democracy itself, so that that selfsame public will not defend the core institution on which the very country is premised. They have been remarkably successful at this, with some 70 million people believing that the election was rigged and that Donald Trump should be installed as an effective dictator, despite the fact that he conspicuously lost the popular vote by over 7 million votes, and the electoral college by 74 votes, a “landslide” as he called the exact same tally in 2016.
The mainstream media have been the central actors selling this decades-long campaign of dispossession, deceit, and destruction. Every day for 40+ years, while $50 trillion was being covertly, systematically sluiced from the 90% to the 1%, they’ve served as cultural pacifiers, agents of diversion, happy chatterers, cooing to the populace that everything was fine, just as it was supposed to be, that America is the Exceptional country, and any doubt about that reflected not political or economic insight, certainly not moral courage, but moral failing, perhaps even treason, on the part of the doubter.