View Full Version : Establishment Messiah - Justin Raimondo

10-11-2008, 03:43 PM
Establishment Messiah (http://www.takimag.com/site/article/establishment_messiah/)

Obama’s backers in the world of high finance—platoons of top execs from Lehman Brothers, Wachovia, Washington Mutual, Citigroup, Deutsche Bank, Merrill Lynch, Goldman Sachs, Bank of America, JP Morgan, Chase, Morgan Stanley, Countrywide—were all intimately involved in the mortgage fiasco. They profited, bigtime, from the Greenspan Bubble, and now they expect their bought-and-paid-for presidential candidate to bail them out – and he hasn’t disappointed them.

He hemmed and hawed in his Senate speech advocating a “yes’ vote for the bailout, listing all the reasons why the banksters shouldn’t get their 700 billion bucks, and acknowledging the widespread skepticism among the public (as opposed to the elites, who are, quite naturally, for it). But still, he averred, there is no real separation between Main Street and Wall Street.” We’re all in this together, blah, blah, blah…

That is nonsense, to be sure: Banks, particularly investment banks, are no more like ordinary businesses than, say, the US Post Office is like Fed Ex, or the CIA is like a private eye. Main Street sells real goods and services: in an economy that is increasingly socialized at its commanding heights, however, Wall Street peddles Ponzi schemes and political candidates. And their favorite this year is Barack Obama, the designated messiah of the Overclass.

The idea is that by supporting Obama they can avoid social revolution—appeasing both the gods of political correctness and the Fortune 500. Riding into the fray on a white charger, his banner emblazoned with the “Deflation—Never!” slogan that is the battle-cry of finance capital in a state capitalist society, Obama is the Establishment’s trump card, the elite’s last hope of salvaging its power, prestige, and wealth from the coming implosion. It is a remarkable marketing operation—to create a populist and even a revolutionary persona out of someone who is, essentially, a creation of his corporate overlords—but it looks like they’re going to pull it off.

I wouldn’t count on the presence of Obama in the White House to defuse or even delay the powerful upsurge of anti-government, anti-Establishment populism that will be an inevitable reaction to economic turmoil on the scale many economists are now projecting. If they expect Obama to keep the inner cities, and the white suburbs, in line during the coming time of trouble, then that won’t be nearly enough.

This system is finished: the Hamiltonian, state-capitalist corporate state that emerged out of the postwar era, and was based on the Federal Reserve’s “soft” dictatorship over the economy, is over. It is, in short, a dictatorship of the bankers. Empowered to create assets out of thin air by government fiat, the lords of high finance colluded with the lords of Washington to create a system based on fraud, pure and simple. Now that fraud is coming unraveled—but, have no fear! A messiah has come to save them, a multi-culti FDR to sell the bailout to the masses and ensure the banksters’ place as pillars of society. Will he succeed? Can he succeed?

Let’s hope not.