Quote of the Day: Fictitious Capital

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Cédric Durand wrote:

The return of the political is thus paradoxical. The hegemony of finance — the most fetishized form of wealth — is only maintained through the public authorities’ unconditional support. Left to itself, fictitious capital would collapse; and yet that would also pull down the whole of economies in its wake. In truth, finance is a master blackmailer. Financial hegemony dresses up in the liberal trappings of the market, yet captures the old sovereignty of the state all the better to squeeze the social body to feed its own profits [emphasis added].

Durand wrote his book in response to the Crash of 2008-9. We are unfortunate that the crisis before us might prove to be far worse, especially since the next collapse will reflect the workings of the plague on the economy. In both instances, the crisis reflected and will reflect the political character of the neoliberal project. That character included the use of state power to impose laissez faire market norms on the labor market, of decoupling welfare and well-being from the state. Despite their rhetoric, neoliberals never offered the anti-statist, anti-political program its promoters claimed for it. The neoliberal state was active. It defended the prerogatives of capital and those capitalists who captured part of the state. Neoliberals was, in fact, a form of authoritarian liberalism. The extremism it practiced (Goldwater) produced a viciously narrow form of individualism. The rich and powerful take whatever they can, the weak and poor suffer whatever comes their way.

You’ve Got a Friend in Pennsylvania II

Comments are not needed for this one:

A Pennsylvania woman died in a jail cell over the weekend while serving a 48-hour sentence for her children’s unpaid school fines. Eileen DiNino was found dead on Saturday in a Berks County jail cell where she was midway through the sentence that would have eliminated around $2,000 in fines and related court fees related to her children’s attendance at school. Police have said her death is not considered suspicious, but the cause has yet to be determined. She was 55 years old and a mother to seven children.

“This lady didn’t need to be there,” District Judge Dean Patton — who said he was “reluctant” to sentence DiNino — told the Associated Press. “We don’t do debtors prisons anymore. That went out 100 years ago.” More than 1,600 people have been jailed in Berks County alone — the majority of them women — because of similar fines.

You’ve Got a Friend in Pennsylvania

Right. How could I have ever believed otherwise?

Well, a new study shows Pennsylvania ranking fifth among the various states when they were evaluated for amount of corruption among its public officials. Even New York, which has that ethical black hole commonly known as New York City, scored better.

Sad.

An inverted ‘night of the long knives’ begins?

The New York Times reports:

Representative Eric Cantor of Virginia, the No. 2 House Republican, will resign as majority leader within weeks, according to leadership aides, setting off a scramble to remake the party’s upper ranks.

The move follows a stunning defeat in a primary election on Tuesday in which voters rejected him in favor of a more conservative candidate, and culminates a precipitous fall for Mr. Cantor, who was thought to be a likely successor to Speaker John A. Boehner.

By stepping down as majority leader, an aide to Mr. Cantor said, he hoped to limit a festering struggle within the House Republican caucus over who would assume his post.

Hmmm, Cantor wants to limit a power struggle in the GOP caucus by throwing red meat into the fiery pit! Good idea!

Quote of the day

John Kerry, a crude opportunist by trade and need, recently dismissed Edward Snowden’s manhood — his virtù, to use the sense of the word given to it by Niccolò Machiavelli. David Lindorff rightly took issue with Kerry’s denunciation of Snowden. He concluded thusly:

Kerry has no right to question anyone’s “manhood.”

Having John Kerry tell someone like Snowden to “man up” is the moral equivalent of Richard Nixon telling someone to follow his conscience or Bernie Madoff telling a homeless beggar to get an honest job.

Snowden would have to be crazy or a masochist to come back to the US and submit his fate to the “American justice system” touted by Secretary Kerry.

Without a doubt, Edward Snowden in his person and actions more concisely expresses the sense Machiavelli gave to this term than Kerry ever had, even if we include the Kerry who opposed the Vietnam War. Machiavelli would have praised Snowden’s ferocity and bravery, his tactical and strategic senses and even his patriotism. He would have appreciated Snowden’s audacious project, one which originated in his stated hope to help put an end to America’s emerging tyranny. He would have considered Snowden a fellow republican. On the other hand, Machiavelli would have judged Kerry to be a faithless mercenary, and a source of corruption.

Austerity kills

It is always worth making the effort to recognize that an unnecessary but not pointless austerity politics creates adverse and, sometimes, existential problems for those individuals without the means or power to solve their personal problems. These individuals can only suffer what they cannot avoid. Scot Rosenzweig of Allentown, PA confronted Pennsylvania Governor Corbett with this issue, forcing him to defend his support for his Healthy Pennsylvania project, derided by its critics as CorbettCare. Corbett notoriously refused to accept the greater Medicaid monies authorized by the Affordable Care Act. Corbett eventually proposed a plan that would limit the scope and efficacy of the health care provided by the state of Pennsylvania to its poorest citizens. Currently, thanks to Corbett’s ideologically motivated scheming, Pennsylvania has neither an expanded Medicaid program nor even the lesser CorbettCare. At least one death can be attributed to this lack:

Her death did not faze Corbett, however.

Martin Luther King on the Vietnam War

Glenn Greenwald and Peter King respond to Obama’s NSA ‘Reforms’

First Black President© to open Plantations!

A White House press release announced the good news:

For decades before the economic crisis, local communities were transformed as jobs were sent overseas and middle class Americans worked harder and harder but found it more difficult to get ahead.  Announced in last year’s State of the Union Address, the Promise Zone Initiative is part of the President’s plan to create a better bargain for the middle-class by partnering with local communities and businesses to create jobs, increase economic security, expand educational opportunities, increase access to quality, affordable housing and improve public safety.  Today, the President announced the next step in those efforts by naming the first five “Promise Zones”.

The first five Zones, located in San Antonio, Philadelphia, Los Angeles, Southeastern Kentucky, and the Choctaw Nation of Oklahoma, have each put forward a plan on how they will partner with local business and community leaders to make investments that reward hard work and expand opportunity.  In exchange, these designees will receive the resources and flexibility they need to achieve their goals.

Each of these designees knows and has demonstrated that it takes a collaborative effort – between private business and federal, state, tribal and local officials; faith-based and non-profit organizations; children and parents – to ensure that hard work leads to a decent living for every American, in every community.

Good jobs for everyone? Well, no. The program is limited in scope (it does not include everyone in need) and lacks a living wage requirement (wages and benefits will reflect the labor market for unskilled labor). Is this welfare for the common man and woman? Again, no. The program will be formed around tax breaks, regulation suspensions and similar corporate welfare programs. The tacit goal is to create a government sponsored low-wage, low-regulation labor market in areas which suffer from a labor market surplus. The program is, in fact, a rehash of what were once called Urban Enterprise Zones. The Promise Zones are, plainly put, plantations, as Mike Whitney pointed out:

Plantations were a familiar feature of the antebellum South, but were abandoned following the Civil War. Now a new generation of corporate kleptocrats want to revive the tradition. They think that weakening consumer demand and persistent stagnation can only be overcome by skirting vital labor protections and shifting more of the cost of production onto workers. Obama’s promise zones provide a way for big business to slip the chains of “onerous” regulations and restore, what many CEO’s believe to be, the Natural Order, that is, a Darwinian, dog-eat-dog world where only the strongest and most cunning survive.

I wonder if Foxconnthe “we drive our employees to commit suicide” people — will open an Arbeitslager in the United States? They surely are the kind of company Obama wants to attract.

The PRC — A worker’s paradise

 

Ariel Sharon — dead

I’d say this inevitable event came much too soon. Sharon would have lived another 1,000 years if the universe were a justice machine. But it isn’t.

He no longer suffers. His friends and admirers ought to rejoice.