Tag Archives: Power Elite

Wealth Identity Politics: Billionaires Acting Like A Persecuted Minority Is Peak Capitalism

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By Caitlin Johnstone

Source: CaitlinJohnstone.com

“I guess maybe Bernie Sanders shouldn’t exist,” said billionaire Steve Schwarzman while seated in a library building named after billionaire Steve Schwarzman and promoting a book with billionaire Steve Schwarzman’s face on it.

According to Bloomberg this humble response from the always modest billionaire Steve Schwarzman came in response to a question posed by an audience member about a Sanders tweet in which the Vermont Senator said that billionaires should not exist. The comment was reportedly met with enthusiastic applause.

Blackstone CEO Schwarzman, who has previously compared tax increases on the wealthy to the Nazi invasion of Poland, is an oligarch by any reasonable definition. As one of America’s top individual campaign donors he is immensely influential; his plutocratic power is so deeply interwoven with the highest levels of government that his book’s 14 pages of acknowledgements describe cuddly relationships with a who’s-who of top US officials, including the last five presidents. According to a recent report by The Intercept, two Brazilian firms owned by Schwarzman “are significantly responsible for the ongoing destruction of the Amazon rainforest, carnage that has developed into raging fires that have captivated global attention.”

It is very telling that this oligarch sees an equivalence between (A) saying that an elite class should not control such vast amounts of wealth and (B) saying actual people should not exist. What this tells us is that Schwarzman sees being a billionaire as a fundamental part of his identity, making the idea that he shouldn’t control billions of dollars indistinguishable from saying that he himself should not exist. From his point of view he’s just doing the same thing that Sanders is doing: Bernie’s saying the thing that Schwarzman is shouldn’t exist, and Schwarzman is saying that Bernie himself shouldn’t exist. To him they’re the same.

This statement gives us a bit of insight into the way billionaires see themselves as fundamentally different than the rest of us, forming an egoic identity construct out of being a billionaire in the same way a medieval king would form an egoic identity construct out of that position. This anti-billionaire rhetoric is perceived as an attack on their very identity, which is why they are spinning it as though Sanders is calling for the elimination of actual people.

Predictably, Fox News is now trotting out billionaires to defend themselves from this outrageous billionairephobic bigotry, with Home Depot founder and major Republican Party donor Ken Langone receiving a warmly sycophantic reception from Fox’s Mornings with Maria.

“What the hell has he done for the little people?” Langone asked his host Maria Bartiromo. “What jobs has he created?”

Langone went on to detail all the many jobs he’s “created” (read: how many people he’s needed to hire to help him reap lucrative profits from an already existing demand) without bothering to explain what hoarding billions of dollars in offshore accounts has to do with job creation. Exponents of the “billionaires create jobs” argument always avoid this glaring plot hole like the plague.

Again, we see in Langone’s emotional response two things: that he sees ordinary citizens as “the little people” innately different from himself, and that he perceives the push toward greater economic equality as an existential threat.

“If you go back to 1933, with different words, this is what Hitler was saying in Germany,” Langone has said of the rising pushback against wealth and income inequality. “You don’t survive as a society if you encourage and thrive on envy or jealousy.”

These outbursts are reminiscent of one we saw a couple of years ago on an MSNBC interview with resort tycoon Stephen Cloobeck, who expressed outrage at the way progressives are using “the millionaire or billionaire word” to discuss issues with class and economic justice, saying he’d instructed Democratic Party leaders to bring a stop to this rhetoric or lose plutocratic funding.

“It is very, very disturbing when I hear the millionaire or billionaire word,” Cloobeck said, as though he was uttering an ethnic slur for an oppressed minority and not a conventional label for a class that effectively owns the US government. “And I’ve told them to stop it. Knock it off.”

We’re seeing this hilarious conflation of economic justice with the persecution of minorities and the elimination of actual human beings more and more often, so we should probably come up with a name for it. I’d like to propose that we label this phenomenon “wealth identity politics”, and it is capitalism’s dumbest turn yet.

It’s especially dumb because the billionaire class has already proven with its actions that it cannot exist without actively working to manipulate governments in a way that undeniably subverts democracy and the will of the people. The debate over whether or not billionaires should exist is long settled. They should not.

A few million dollars will buy you a nice car, a nice house and some nice clothes. A few billion dollars will buy you the ability to control public narratives using media ownership, lobbyists and think tanks, thereby manipulating entire governments and international affairs. Believing that it makes sense to have an elite class which controls this much wealth and power is exactly as stupid as believing it makes sense to have a total monarchy.

Billionaires should not exist, for the same reason that kings and pharaohs should not exist. The leadership of our world should not belong to a class of highly mediocre people who have nothing noteworthy between their ears apart from a knack for accumulating dollars. The ability to amass wealth is not a valid basis upon which to determine who leads us. Our fate as a species should be in all our hands.

Who Protected Epstein for Decades, and Why?

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By Charles Hugh Smith

Source: Of Two Minds

Let’s start by stipulating that the Jeffrey Epstein story is so sordid and outlandish that it’s like a made-for-TV movie about the evil proprietor of a nightmarish enclave of private perversion and sexual exploitation, Lolita Island.

For Epstein’s victims, the nightmare was all too real.

Next, let’s stipulate that in a nation with a functioning system of justice, every individual who knew about Epstein’s degenerate empire and did nothing to stop it should be ushered into a Federal prison cell to ponder their sins against the exploited girls and against the nation.

Yes, as in treason, as in “throw them in prison and let them rot” treason. As I have explained, corruption and debauchery undermine the legitimacy of the state, and so doing nothing while Epstein et al. gratified the desires of the rich and powerful for degenerate debauchery was treasonous: the American state will collapse not from military conflict but from moral decay, and every individual who enabled (or made use of) that moral decay is guilty of treason.

Which leads us to the basic questions of the case: who protected Epstein for decades, and why? There are several explanations floating around for the why: those in power enjoyed their diabolically exploitive visits to Lolita Island and wanted to continue their criminal gratifications.

The second explanation is that Epstein was a spy for a “friendly” foreign intelligence agency and therefore off-limits. (“Friendly” is in quotes because when it comes to intelligence, one’s “friends” can do more damage than one’s worst enemies.)

Let’s say this turns out to be true. Wouldn’t the NSA, CIA and FBI know of Epstein’s activities and connections to a foreign intelligence service? Of course they would. So at a minimum, we can infer the NSA, CIA and FBI enabled Epstein’s operation to continue for some benefit, perhaps relating to “honeypot” blackmail and control of “assets,” unwilling or willing.

This narrative is the “explanation” for Epstein’s wrist-slap conviction a decade ago: he was supposedly an “asset” of US intelligence.

So exploiting vulnerable girls served the “national interests” and therefore it’s all OK. If we’re supposed to believe this is the heart of the matter, how is America any different from a corrupt developing-world kleptocracy organized to gratify a handful of oligarchs and their cronies?

Or perhaps the “he was an intelligence asset” is just a tissue-thin cover for a much more destructive reality: those at the top of the American state have no moral compass at all. That honeypots and blackmail are standard-issue tools of spycraft targeting individuals in the employee of other nations is a given, but presumably the CIA doesn’t recruit 14-year girls as bait (although nothing should surprise us at this point).

But Lolita island (a.k.a. Orgy Island) was not spycraft; it was a privately operated wholesale exploitation of underage girls for the gratification of the Western world’s male elites. That some enterprising agency recruited (or blackmailed) Jeffrey Epstein was predictable, as the treasure trove of compromising videos could yield all sorts of useful leverage on highly placed individuals.

Many of us sense an existential crisis is close at hand, and the U.S. is ill-prepared for such a crisis. Possibilities broached by others include a global war, a break-up of the U.S. into regional states, or a civil war of some sort.

My bet is on a moral and financial crisis in which the ruling elites and the federal state lose their legitimacy, i.e. the consent of the governed. As their Federal Reserve “money” loses value and the corruption of the ruling elites and the government they control reaches extremes, the citizenry will no longer heed their corrupt, self-serving “leaders.”

If America’s ruling elites will not let justice be done, then they guarantee a revolt against the elites that could track a very grim path if that is the only option left open to the citizenry.

Once again I turn to The Second Coming by William Butler Yeats for a poetic evocation of the coming crisis:

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

The Rule of the Uber-Rich Means Tyranny or Revolution

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By Chris Hedges

Source: TruthDig

At the age of 10 I was sent as a scholarship student to a boarding school for the uber-rich in Massachusetts. I lived among the wealthiest Americans for the next eight years. I listened to their prejudices and saw their cloying sense of entitlement. They insisted they were privileged and wealthy because they were smarter and more talented. They had a sneering disdain for those ranked below them in material and social status, even the merely rich. Most of the uber-rich lacked the capacity for empathy and compassion. They formed elite cliques that hazed, bullied and taunted any nonconformist who defied or did not fit into their self-adulatory universe.

It was impossible to build a friendship with most of the sons of the uber-rich. Friendship for them was defined by “what’s in it for me?” They were surrounded from the moment they came out of the womb by people catering to their desires and needs. They were incapable of reaching out to others in distress—whatever petty whim or problem they had at the moment dominated their universe and took precedence over the suffering of others, even those within their own families. They knew only how to take. They could not give. They were deformed and deeply unhappy people in the grip of an unquenchable narcissism.

It is essential to understand the pathologies of the uber-rich. They have seized total political power. These pathologies inform Donald Trump, his children, the Brett Kavanaughs, and the billionaires who run his administration. The uber-rich cannot see the world from anyone’s perspective but their own. People around them, including the women whom entitled men prey upon, are objects designed to gratify momentary lusts or be manipulated. The uber-rich are almost always amoral. Right. Wrong. Truth. Lies. Justice. Injustice. These concepts are beyond them. Whatever benefits or pleases them is good. What does not must be destroyed.

The pathology of the uber-rich is what permits Trump and his callow son-in-law, Jared Kushner, to conspire with de facto Saudi ruler Mohammed bin Salman, another product of unrestrained entitlement and nepotism, to cover up the murder of the journalist Jamal Khashoggi, whom I worked with in the Middle East. The uber-rich spend their lives protected by their inherited wealth, the power it wields and an army of enablers, including other members of the fraternity of the uber-rich, along with their lawyers and publicists. There are almost never any consequences for their failures, abuses, mistreatment of others and crimes. This is why the Saudi crown prince and Kushner have bonded. They are the homunculi the uber-rich routinely spawn.

The rule of the uber-rich, for this reason, is terrifying. They know no limits. They have never abided by the norms of society and never will. We pay taxes—they don’t. We work hard to get into an elite university or get a job—they don’t. We have to pay for our failures—they don’t. We are prosecuted for our crimes—they are not.

The uber-rich live in an artificial bubble, a land called Richistan, a place of Frankenmansions and private jets, cut off from our reality. Wealth, I saw, not only perpetuates itself but is used to monopolize the new opportunities for wealth creation. Social mobility for the poor and the working class is largely a myth. The uber-rich practice the ultimate form of affirmative action, catapulting white, male mediocrities like Trump, Kushner and George W. Bush into elite schools that groom the plutocracy for positions of power. The uber-rich are never forced to grow up. They are often infantilized for life, squalling for what they want and almost always getting it. And this makes them very, very dangerous.

Political theorists, from Aristotle and Karl Marx to Sheldon Wolin, have warned against the rule of the uber-rich. Once the uber-rich take over, Aristotle writes, the only options are tyranny and revolution. They do not know how to nurture or build. They know only how to feed their bottomless greed. It’s a funny thing about the uber-rich: No matter how many billions they possess, they never have enough. They are the Hungry Ghosts of Buddhism. They seek, through the accumulation of power, money and objects, an unachievable happiness. This life of endless desire often ends badly, with the uber-rich estranged from their spouses and children, bereft of genuine friends. And when they are gone, as Charles Dickens wrote in “A Christmas Carol,” most people are glad to be rid of them.

C. Wright Mills in “The Power Elite,” one of the finest studies of the pathologies of the uber-rich, wrote:

They exploited national resources, waged economic wars among themselves, entered into combinations, made private capital out of the public domain, and used any and every method to achieve their ends. They made agreements with railroads for rebates; they purchased newspapers and bought editors; they killed off competing and independent businesses and employed lawyers of skill and statesmen of repute to sustain their rights and secure their privileges. There is something demonic about these lords of creation; it is not merely rhetoric to call them robber barons.

Corporate capitalism, which has destroyed our democracy, has given unchecked power to the uber-rich. And once we understand the pathologies of these oligarchic elites, it is easy to chart our future. The state apparatus the uber-rich controls now exclusively serves their interests. They are deaf to the cries of the dispossessed. They empower those institutions that keep us oppressed—the security and surveillance systems of domestic control, militarized police, Homeland Security and the military—and gut or degrade those institutions or programs that blunt social, economic and political inequality, among them public education, health care, welfare, Social Security, an equitable tax system, food stamps, public transportation and infrastructure, and the courts. The uber-rich extract greater and greater sums of money from those they steadily impoverish. And when citizens object or resist, they crush or kill them.

The uber-rich care inordinately about their image. They are obsessed with looking at themselves. They are the center of their own universe. They go to great lengths and expense to create fictional personas replete with nonexistent virtues and attributes. This is why the uber-rich carry out acts of well-publicized philanthropy. Philanthropy allows the uber-rich to engage in moral fragmentation. They ignore the moral squalor of their lives, often defined by the kind of degeneracy and debauchery the uber-rich insist is the curse of the poor, to present themselves through small acts of charity as caring and beneficent. Those who puncture this image, as Khashoggi did with Salman, are especially despised. And this is why Trump, like all the uber-rich, sees a critical press as the enemy. It is why Trump’s and Kushner’s eagerness to conspire to help cover up Khashoggi’s murder is ominous. Trump’s incitements to his supporters, who see in him the omnipotence they lack and yearn to achieve, to carry out acts of violence against his critics are only a few steps removed from the crown prince’s thugs dismembering Khashoggi with a bone saw. And if you think Trump is joking when he suggests the press should be dealt with violently you understand nothing about the uber-rich. He will do what he can get away with, even murder. He, like most of the uber-rich, is devoid of a conscience.

The more enlightened uber-rich, the East Hamptons and Upper East Side uber-rich, a realm in which Ivanka and Jared once cavorted, look at the president as gauche and vulgar. But this distinction is one of style, not substance. Donald Trump may be an embarrassment to the well-heeled Harvard and Princeton graduates at Goldman Sachs, but he serves the uber-rich as assiduously as Barack Obama and the Democratic Party do. This is why the Obamas, like the Clintons, have been inducted into the pantheon of the uber-rich. It is why Chelsea Clinton and Ivanka Trump were close friends. They come from the same caste.

There is no force within ruling institutions that will halt the pillage by the uber-rich of the nation and the ecosystem. The uber-rich have nothing to fear from the corporate-controlled media, the elected officials they bankroll or the judicial system they have seized. The universities are pathetic corporation appendages. They silence or banish intellectual critics who upset major donors by challenging the reigning ideology of neoliberalism, which was formulated by the uber-rich to restore class power. The uber-rich have destroyed popular movements, including labor unions, along with democratic mechanisms for reform that once allowed working people to pit power against power. The world is now their playground.

In “The Postmodern Condition” the philosopher Jean-François Lyotard painted a picture of the future neoliberal order as one in which “the temporary contract” supplants “permanent institutions in the professional, emotional, sexual, cultural, family and international domains, as well as in political affairs.” This temporal relationship to people, things, institutions and the natural world ensures collective self-annihilation. Nothing for the uber-rich has an intrinsic value. Human beings, social institutions and the natural world are commodities to exploit for personal gain until exhaustion or collapse. The common good, like the consent of the governed, is a dead concept. This temporal relationship embodies the fundamental pathology of the uber-rich.

The uber-rich, as Karl Polanyi wrote, celebrate the worst kind of freedom—the freedom “to exploit one’s fellows, or the freedom to make inordinate gains without commensurable service to the community, the freedom to keep technological inventions from being used for public benefit, or the freedom to profit from public calamities secretly engineered for private advantage.” At the same time, as Polanyi noted, the uber-rich make war on the “freedom of conscience, freedom of speech, freedom of meeting, freedom of association, freedom to choose one’s own job.”

The dark pathologies of the uber-rich, lionized by mass culture and mass media, have become our own. We have ingested their poison. We have been taught by the uber-rich to celebrate the bad freedoms and denigrate the good ones. Look at any Trump rally. Watch any reality television show. Examine the state of our planet. We will repudiate these pathologies and organize to force the uber-rich from power or they will transform us into what they already consider us to be—the help.