Unregulated Capitalism: A Fool's Free Enterprise

Here we are on the eve of the G-20 meeting in London as true fools on April Fools’ Day hoping that this larger version of the G-7 can find some economic magic paddling under London Bridge. And while protesters – anarchists, anti-capitalists and environmentalists – spouse loudly their celebrated causes, others have this time around joined them in the streets; irritated, no doubt, by the way society – through government – condones the behavior of those masters of ultimate greed… and how they display their arrogance and disdain for the poor citizen-dupes they pillage time and time again.

In the United States we have proudly rendered homage to individuality, always fiercely defending the right to accumulate wealth, no matter how ill-obtained, seldom if ever questioning the inclusiveness of all costs before deciding as to what profits should or ought to be. And in our pseudo-democratic society, we are quick to defend misnamed private property as if it had been vested to these individuals, merit-full, by God.

Capitalism – at least as practiced in much of the world… certainly in the US – is not a system that rewards hard work and accomplishment, no matter the constant brainwash we receive to convince us of such economic virtuosity, but rather a corrupt system that rewards schemes to deceive others and thrives in maintaining the upper hand by way of accomplice-ment. In today’s world, no elite would be able to survive unless it had a large, supportive cadre of lackeys to keep the masses ignorant and at bay.

What we are seeing that this meeting of the G-20 is but a gathering of figure-heads, our own president Obama among them – enthroned by many as being in the leadership role – that represent the elite possessing the wealth, always supported by military power. Representatives of the Knights of Power are all there in London Town, presumably to find solutions to the problems created by them under the insignia of Capitalism and Globalization. But, wouldn’t it be far more productive if, instead of looking for the hocus pocus of illusory economic stimuli based on unconscionable consumption, they found a consensus as to what capitalism should be, a form of free enterprise not in conflict with society’s justly aspirations?

Rest assured that whether or not a consensus is reached in this meeting tomorrow, capitalism will continue to be defined by those holding power and wealth in those nations represented. Nothing will really change that will take us in the direction of a more harmonious and equitable planet. Token measures may be discussed, even adopted, but at the end of the meeting representatives from the Capitalist Confederation will return home… each to its own level of capitalism, from decently regulated to the cataclysmic unregulated capitalism which exists in the United States… and which is in great part, definitely not all, the culprit for the current state of the world’s economy.

In America we are pretty much aware as to who the Knights of Power are, whether in our community or the nation in general. We also know that most of us are but Pawns of Consumption, whether or not we admit to such a demeaning title for ourselves. But, do we know who the Squires of Capitalism are and, more importantly, do we really care?

We seem to have “lost” 6 trillion dollars, perhaps more, in economic value during the past 18 months in this nation alone, whether in the stock market, real estate – in both residential and commercial properties, or in other assets’ loss in market value… yet, what we think we lost, we really never actually had other than as a mirage: overvalued stocks, overvalued real estate, and other overvalued assets. Why, then, the economic suffering and pain? Simply put, because the true squires of capitalism from investment bankers, to a variety of real estate promoters, to Wall Street thieves and connivers, to capitalism’s media cheerleaders (CNBC team comes to mind), to economists unskillful in their art, to an irresponsible Fed (all seven of them), to a government-for-hire by the elite… all were executing their duties as true squires of capitalism.

Many of us have lost little, other than make-believe expectations of non-existing wealth, during this half decade of greed-gone-awry (2002-7). Some who did purchase assets (real estate or stocks for the most part) during the latter part of that period, and still hold them, may have been disposed of considerable wealth, whether as victims of our unregulated system that protects the schemers… or their own greed. In any event, they need to look no further to see where their losses went than in their own communities with McMansions and other signs of obscene wealth, many belonging to effusive adherents of something-for-nothing schemes, salesmen and brokers of real estate, house-flippers and other peddlers of effortless success. Now, that transfer of wealth did truly take place!

After the G-20 representatives make their way home, it’s likely that the only truth spread in London was outside of the meetings scheduled for the reunion, truth by protestors that have our system pegged well: a capitalism that promotes neither equity nor peace for mankind, but oppression of the few over the many.