|Producing nothing of real value, fatally hooked on ever-mounting rates of return, simultaneously divorced from and a parasite on the “real” economy, and with the executive and legislative branches in their pockets, the Lords of Capital are set to devour the entirety of the public sector – while forcing the public to finance the feast. The rallying cry is “austerity,” but the motivation is not, as New York Times columnist Paul Krugman maintains, ideological. Rather, it is hunger.|
Finance capital is, at this stage of the system’s decline, incapable of reproducing itself through productive investment, and so must feed on existing producers or on the State. Since Wall Street over the decades has already broken up, consumed and exported much of the U.S. productive economy, that leaves the State and all of its parts. Far from acting as a brake on his vampire friends, Obama leads the charge on corporate hijacking of public education, and signaled in January 2009 that all elements of the safety net, including Social Security, should be “on the table” – which can only mean some form of privatization.
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