Did we really think that all those corrupt G20 economic policy makers would address the central root cause problem plaguing any resumption of meaningful global consumption? To do so would invalidate this tortured ultra-capitalist economy that for approximately 33 years has siphoned all available income up to a privileged elite class comprised of less than 5% of the global population. In fact, our current global governments have only one objective - assist those same omnipotent elites by propping up their failed banks and businesses. These same governments that are supposed to represent the people would rather drain the treasuries of our respective nation-states for their elite masters than drastically transform our global society into a sustainable economic community.
The communiqué coming out of the G20 meeting today emphasizes that in order to resuscitate this dying economy all efforts should be directed at assisting financial institutions by giving them more government money. What is truly baffling is why are these neoclassical economic witch doctors proposing that we pump billions (probably reaching trillions) of dollars more into a select few mega financial institutions that are already insolvent. Have the viable financial institutions acquire the real assets, deposits, and linked customer base of these walking dead corpses and let's get on with solving the central problem facing this contrived ultra-capitalist economic system - labor power that doesn't equal business power. Only through insuring that adequate real wage revenue reaches the majority of the world's citizenry by halting this feast of cheap labor by businesses will we ever prevent this inevitable economic train wreck. This can only be accomplished if unions at the workplace represent workers and in a transnational permanently established democratic organization (an International Economic Congress - I proposed this about 6 months ago) that also includes elected representatives of the business community. But no, the disparity between the nonexistent power of labor and the unlimited bullying power exerted by business could never materialize as the primary reason why the world's economy continues to spiral down to oblivion.
To objectively address the dismantling of a distorted economy specifically designed to benefit only those at the top of the income pyramid would invalidate every piece of skillfully crafted propaganda that currently clogs the intellectual arteries of our intricately controlled "Taker" society. How then would all the body-snatched government representatives explain away years of ultra-capitalist propaganda aimed at subduing the general population into complacency? All of us who work for a living propelled yearly productivity in most countries to levels that could only be explained by our longer hours (gains attributed to technology were insignificant) of toil. Even the much touted technology related gains that were supposed to be the main contributory factor in productivity shooting up by double digit percentages were nothing more than a blip compared to the harder working exertions of an increasingly exhausted global workforce. Did we realize higher real wages from our hard work - you must have been living in a cave if you believe all that easy credit that was proffered to you would have been necessary to keep a real economy functioning if you had been receiving a far wage.
But this isn't a real sustainable economy; for it festers with every form of distortion aimed at benefiting only those who hold power. We're all asked to contribute just that extra amount of time, effort, or weekend work for companies whose only objective is to line the pockets of those within a special elite class. Now we're seeing the results of this myopic approach towards select aggrandizement of a few ultra-powerful capitalists - plummeting corporate revenues. Without adequate income in the form of real wage increases that weren't forthcoming for more than 30 years and with easy credit no longer available because of declining asset values (not to mention individual debt loads at a maximum) is it any wonder that consumption is falling and also dragging corporate revenue into the same pit. This doesn't even account for our lost homes, lost jobs, and standard of living that continues to decline.
The only explanation for why our governments are continuing to adhere to a failed set of economic principles is that they, their corporate masters, and the approved Intelligentsia have invested far too much in support of this monstrous economic system to back down now. All those who have a vested interest in maintaining a clearly unsustainable society of special interest will do so until anarchy, revolution, or general revolt wrests them from power. Unfortunately, once we've reached this state of affairs our national economies will already be shattered, leaving behind empty buildings, millions of poor starving homeless citizens, totalitarian regimes, rampant crime, and a more disjointed world focused exclusively on issues of survival.
But from this eventual collapse will arise a few nation-states that recognize the inherent importance of all citizens not just those few who happen to own or control businesses. These few countries that rise from the ashes of a selfish, degenerate, evil "Taker" society will be oases in a desert of slavery.
At this point in time barring a miracle the global economy will continue to spiral uncontrollably towards its eventual destruction. For no amount of wishful thinking, spell binding propaganda, feeding of the privileged at government troughs, magnificent speeches, and shaking of magic rattles by economic voodoo priests will avert the coming of this economic cataclysm. Only through pumping substantial fiscal stimulus into the global economy to the tune of around 6% of GDP, providing a free college education to all citizens, giving nationalized healthcare to all citizens, placing term limits on all elected governmental positions, outlawing all forms of lobbying, and allowing labor power to equal the current power exerted by business will we stop our slide towards oblivion.
Some of these imperatives are already in place within a few nation-states but to avert our most certain demise we must equalize the proposed 6% fiscal stimulus infusion, provide the aforementioned basic governmental services, and insure safeguards against subversion of our democratic processes across all nation-state boundaries. If not, we will all suffer the consequences of our inability to change for the betterment of all, both rich and poor.