The Wolf of Wall Street

The current economic, political, and social realities of the United States echo and reflect what Senator Bernie Sanders has said to a certain extent. In a recent interview, Sanders argued that the Democratic Party needs a “major course correction.” Sanders said: “It is no great secret that the Republican Party is winning more and more support from working people.” He added: “It’s not because the Republican Party has anything to say to them. It’s because in too many ways the Democratic Party has turned its back on the working class.”

Sanders also argued that people at the top are doing “phenomenally well” while “squeezing their workers and lowering the standard of living for workers” who resist the practices of their bosses and employers. But what Sanders misses or overlooks is that there is a broader phenomenon and a singular overriding factor which is defining economic, political, and social conditions in the United States. In essence, grassroots capitalism and entrepreneurship in the United States has been overtaken by what Yanis Varoufakis called “Techno-Feudalism.” Market-based economies characterized by grassroots capitalism and grassroots entrepreneurship which emerge from the ground up are now being held captive by “central bank money and digital platforms” at the top.  

Thus, much of the bad luck as well as the bad karma that has taken hold of the United States in recent times is primarily due to the “central bank money” that has shaped economic, political, and social conditions in the United States in an adverse and negative way. Moreover, the dogmatic or ideological divide between populist and socialist or the one between Capitalist and Marxist is blurred and obfuscated by a singular overriding factor, namely, “central bank money.”

Economic, political, and social life is no longer defined by dogmatic or ideological issues anymore. Life-long education – known in Germany as “Bildüng” – requires that an individual now transcend rigid categorizations. Knowledge and information are now holistic and interconnected in nature. Thus, one can no longer limit oneself to a singular dogma or ideology, and the pursuit of knowledge and information must continue indefinitely. Whether “globalism” triggers populism or social democracy does not matter, as long as the “techno-feudal” system based on the rule of “central bank money” continues to define economic, political, and social conditions in the United States.

As a result, Varoufakis has argued that grassroots capitalism has evolved and has ended not in a revolution. Rather, grassroots capitalism has evolved and has ended in a “whimper.” In addition to defining economic, political, and social conditions on a domestic level in the United States, “central bank money and digital platforms” have also defined the military, political, and diplomatic agenda of the United States. Afghanistan and Iraq are deeply intertwined with the “Techno-Feudalism” resulting from “central bank money” rule. What results from this dilemma and situation is inflation, political dysfunction, as well as a mental health crisis throughout the country.

One of the ways by which inflation can be reduced is if there is better control over government spending and by balancing the government budget, thus correcting the government deficit over time. However, given the overall situation in Washington – which is defined by “Techno-Feudalism” – everything in Washington amounts to histrionics and “political theater.” After experiencing populism, the natural transition should have been towards social democracy of a Western European and Scandinavian nature. But with “techno-feudalism” and “central bank money” rule, our experience with populism here in the United States may not be over yet.

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