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Will the Bailout Lead to the End of Civilization?
By mentor24 | September 23, 2008
So much is being discussed about the proposed $700 billion bailout of the financial sector as I write this that I don’t see much point in just joining in the chorus of blame and hand wringing. But I do see this development as so relevant to the topic of this blog (the end of civilization as we know it) that I feel compelled to weigh in just in order to crystallize that point.
Everyone is concerned about the situation, but in true “agenda theory” fashion, they are generally concerned for their own self-interested reasons. Maybe they work in the financial industry and fear their jobs are at risk. Maybe they face foreclosure on their home and are pissed that only the little guys will lose while the big guys get bailed out. Maybe they share in the responsibility and are concerned about damage to their reputations. Maybe they’re watching their retirement evaporating before their eyes. There is no shortage of reasons to worry.
As for me, I tend to take the widest angle view possible. It’s just the way my brain works. And here’s how I see it:
The power elite, represented by their spokesmen Paulson and Bernanke will convince us that a bailout is necessary to save us from a total financial meltdown. The government does this and restores a certain financial stability. Then, over the coming years it gradually recoups this cost from the general public in the form of inflation (printing money), taxes, and decreased services. It will take years to digest, and indeed, today’s children will still be paying for it when they are adults.
Meanwhile, the people who profited obscenely during the artificial boom, (and their ranks extend well beyond the CEOs) will be allowed to keep all the cash they soaked up during those years. Sure, there will probably be some measures taken to reign in the exorbitant salaries and bonus packages going forward (for a while, anyway). And there will probably be a few stories of lost mega fortunes. There may even be a few sacrificial lambs among the most egregious offenders who are made to publicly atone for the sins of their peers.
But let’s be clear, there won’t be any commission set up to track down the assets of everyone who pulled in salaries, bonuses, commissions, sales, and all other forms of income during the credit craze. There are thousands of individuals who profited in many different ways. Seeking restitution would simply be too complex. And such a step would be unprecedented. Unscrupulously or not, that money was “earned” in the past and is now off the table. It will stay in the accounts of the people who “earned” it.
The System Works!
And that’s how the system works. When the economy is hot, the power elite busily pump money out–as much and as fast as they can. When it cools down, they freeze up and protect their assets. Thus, over time, through each cycle of boom and bust, they ratchet up their power and wealth and build their dynasties.
This is not a new concept. It’s been happening since the beginning of civilization. And it is not all bad. Because it is in the arena of the Have’s that humanity’s great advances in technology and culture tend to occur. Even if it is not the rich themselves who do the creating–even if they are not intending to be a creative force, within their spheres are zones relatively free of conflict and the struggle for survival. It is a stimulating world full of all the best things that humankind has produced. And it is populated by people with the time and resources to be as creative and inventive as their imaginations will allow. For better or worse, the vanguard of the super rich have lead us to where we are as a civilization today.
The super rich live in a different world from the one most of us inhabit. The masses only catch glimpses of that world on TV. You might see a mansion at the end of a long drive through secured gates; you may watch a Lear Jet fly over; or you might get passed on the freeway by a Lamborghini. But that’s about as close as your going to get to their world. And that’s fine. Though they live in a different world they are still humans who feel their own forms of pain, fear and doubt.
The Gap Widens
Before it starts to sound like I’m rambling, let me get to the point. The rich live in a different world from the masses and there is a definite gap between our worlds. Over ten thousand years of civilization the gap between the power elite and the common man has inexorably widened, and it has never been wider. And even if the current financial meltdown is just a blip on the screen of human history, it is one more event that further widens the gulf between the power elite and the masses.
How long before humanity is stretched so far that it simply snaps? What if the elite say to the masses, “you’re more trouble than you’re worth, and you’re on your own”. Or the masses say to the power elite “you’re abandoning us, and we’re not going to let you get away with it”? Again, this dynamic has happened before. The difference is that today we (masses and elite alike) have the ability to wreak far more havoc than at any time in the past. A rift between the elite and masses today would cause turmoil on an order of magnitude that humanity has never witnessed before.
Will the current financial crisis lead to this final rift? Maybe. I hope not. For sure we’re gonna go through some hard times. Some people will learn their lessons. Things will get better. Memories will fade. And a few years later we’ll repeat the cycle all over again. Maybe that time will be the final straw. Who knows?  What is clear is that this cycle is destined to repeat until something makes it stop. And it isn’t going to end with a soft landing.
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Topics: Conspiracy, Economy, Politics, Society |