Paul Craig Roberts

Hanne Herland of the European Herland Report has just had her book published in which she argues that the ruling elite has resurrected feudalism by financializing the economy and offshoring middle class jobs. The title is New Left Tyranny, but it is about gangster state capitalism.

https://www.amazon.com/NEW-LEFT-TYRANNY-Authoritarian-Destruction/dp/1949586081/ref=sr_1_2?dchild=1&keywords=Hanne+Herland&qid=1590954827&s=books&sr=1-2

Historically, capitalism freed labor from bondage by making labor the private property of the person. Serfs who owed labor obligations to lords became free individuals. Free labor markets and emergent capitalism made productive by technological advancements created with time rising living standards and a free people determined to protect their independence by holding government accountable.

This system was eventually wrecked by banks that financialized the economy and diverted discretionary personal income to the payment of interests and fees to banks, and by global corporations that moved first world jobs to Asia, thus raising their profits at the expense of domestic consumer purchasing power and living standards. The result was the concentration of income and wealth in the hands of a few multi-billionaires.

First world work forces were re-enserfed as part-time jobs with no health or pension benefits replaced the security of a middle class existence. Corporate investment in the US ceased as corporations used their profits to buy back their own stocks, thus raising share prices and maximizing executive bonuses and shareholders’ capital gains. This selfish management of corporations brought economic growth to a halt. The ladders of upward mobility were dismantled.

Growing economic uncertainty for larger numbers of people put further stress on already stressed marriage and family relationships. Years of attacks by left-wing intellectuals on Western principles and values, the re-writing of history to serve left-wing agendas, the dilution of national identity in diversity and multiculturalism, and the teaching of race and gender hatreds by Identity Politics has produced a disunited and dysfunctional society. In the US the Democrat Party has abandoned the working class it once championed, labeling blue collar workers “the Trump deplorables.”

Everywhere in the Western World Towers of Babel are being erected. The ethnic nationalities that constituted a country are becoming increasingly alienated from their country as it ceases to be theirs. In France, Sweden, and Germany law favors immigrant-invaders over the ethnicities—French, Swedes, Germans—that gave the countries their names. Ethnic nationalities are also under attack from the European Union whose purpose is to replace European ethnicities with “Europeans” of no ethnicity. Everywhere the bonds that held things together are being severed.

Tyranny can be the only outcome.

plenty more

https://www.paulcraigroberts.org/2020/06/05/gangster-state-capitalism/