If the last 15 years have been marked by an increasing showdown between state sovereignty and paranational capital-market leveraging, to the consistent detriment and erosion of state power/effectiveness, will states now have the wherewithal to stave off disaster now that the confidence-game of the global market has shown its empty hand?

And where is all this promised capital from the nation-states coming from anyway? As always, the future. Our children will save everything….

Let me try to break this all down in absurdly simple terms: John Q works 40+ hrs/wk making widgets (corn, drywall, house paint, houses etc.) for Mr. Bossman, who profits from this basic created value by markup and resale. John Q then buys his own product from Mr. Bossman, at a price so high that he must borrow the total price from Mr. Bossman and his banking associates and pay him back over many years at compounding annual interest. This interest Mr. Bossman and his global banking associates then divvy out amongst eachother, “leveraging” John Q’s debt into profit streams that theoretically pay off ad infinitum.

Meanwhile John Q Citizen also pays taxes into his nation’s public treasury, putatively to secure his own and his neighbors’ collective interests. When Mr. Bossman’s global Ponzi Scheme is revealed for what it always was, and the whole ill-built edifice tumbles, Mr. Bossman and his banking associates appeal to the public treasury to pay out on their inflated promises of profit returns. John Q’s public representatives tell him that this is necessary to “avert calamity,” and go ahead and conscript John Q’s grandchildren’s tax payments to keep the whole cycle turning.

John Q is not supposed to question the premises. The “Free Market” won the Cold War, so what alternative is there? So keep going to work and paying your taxes. If you still have a job….

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