Inevitable Decline of the Global Economy

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Illusions and the Inevitable Decline of the Global Economy
by Jack Random
When the front page of the local newspaper reads like a Jazzman Chronicle forecasting the decline of the nation’s economy, perhaps it is time Americans take heed and begin to seek remedy. 

Largely ignored by the mainstream media, the steep drop in the Dow Jones Industrial Average Friday (October 19), culminating a week of steady retreat, serves as a reminder that the nation’s prosperity is unsustainable.
Corporate profits built on the exploitation of labor will inevitably deteriorate as the exploited labor force is unable to fulfill its obligation as mass consumers.  

The local papers tell the story: Working class people can no longer make their diminishing incomes last to the next payday.  Many are choosing to skip breakfast and lunch so that their families can have a decent dinner. 
Many are discovering that there are no more jobs to turn to and those that are available offer inadequate wages and inadequate health benefits. 
Many are realizing that their current dilemma may not be a temporary state and, therefore, they cannot continue to maintain their lifestyles on credit card debt.
Many are beginning to understand that they are only one crisis away from financial ruin and the government is unable or unwilling to help. 
Many are confronting the reality that transportation costs are claiming such a large percentage of their earnings that the commuter workforce may no longer be viable.

What the local papers neglect to tell is the story of a bipartisan political conspiracy against the working class and its agents in organized labor.  Not since the age of the Robber Barons, when a select group of elite monopolies were allowed unfettered exploitation, have the reins of government been so completely turned over to corporate dominance.  

It required economic collapse for the nation to awaken to the reality that corporate dominance is not a sound economic policy.  We must now wonder if the lessons of the Great Depression have been so thoroughly lost that we must learn them again on an international scale at a cost of unimaginable suffering.  

We have allowed the leaders of both mainstream parties to convince us that globalization as they define it is as inevitable as April showers.  They told us that the loss of American industry would be compensated by gains in technology.  Now that we are losing technology to cheaper labor forces overseas, we are told that innovation and education must fill the void.  What will they tell us when we discover that both innovation and education – in the form of job training – have already been internationalized?  

We have been told that the only alternative to the global corporate economy is protectionism – the erection of trade barriers – and that protectionism is a sure road to economic catastrophe.  

Respectfully, it is a deception that rivals the Bush administration’s weapons of mass destruction.  Every time we impose sanctions against regimes that violate international law, including those that engage in violent oppression (Burma) or genocide (Sudan), we are imposing trade barriers.  When we give tax breaks to the oil and energy industry and offer billion dollar subsidies to corporate farmers, we are violating the cardinal rules of free trade.  

Respectfully, free trade plays no part in the corporate globalization scheme for it does not exist.  Every trade agreement is a complex negotiation of concessions to corporate entities in exchange for access to American markets.  The commonalities of these trade agreements are the contracting of finite natural resources and the omission of labor from negotiations.  

The fundamental purpose behind every globalization trade agreement has nothing to do with market access; it has everything to do with labor exploitation.   The collapse of labor within our borders is not an unfortunate byproduct of a global economy; it is the intended and negotiated outcome.  

As globalization has advanced, corporate profits have reached pornographic levels but the days of unaccountable profiteering have an inevitable end.  The corporate beast cannot overcome its nature.  It will not only bite the hand that feeds it, it will consume it down to the bone.  Labor is the fuel of the global economy and labor will have its revenge.  

Like Enron before the fall, the American economy is an elaborate shared illusion sustained by the common interests of our corporate masters and debt holders.  In the event no one noticed, while we were building a military machine that will be obsolete within a decade, beneficiary nations like China, India and Japan have paid for our excesses.  

They are unlikely to call the debt as long as they continue to benefit but we have sacrificed all leverage in nations partnered with China, including Burma, North Korea, Sudan and Iran.  We can blow up as many nations as we like, at the end of the tunnel the Chinese own us.  

The day will come when millions of workers take to the streets in China and India, demanding living wages, decent working standards and basic health care.  Our response will be tepid and restrained as the governments of those nations strike back with unrestrained violent oppression.  

The secret will be revealed:  America has long abandoned the working class and the rights of labor.  Yet labor will have its revenge.  

The behemoth behind the immigration crisis, the loss of health care and retirement benefits, the absence of decent jobs at decent wages is a betrayal of the fundamental rights of labor even in the so called “enlightened” nations.  

Labor will have its day because its place in the economic equation is essential.  Exploitation labor is no more sustainable in other nations than it is here.  The longer the rights of labor are suppressed internationally, the greater the upheaval in response.  

Ironically, the only development that can save the prosperity of illusion from exploding in worldwide chaos is the assertion of the universal rights of labor before that inevitability arrives.  

No one can predict the precise moment of historic change but we can predict the logical consequences of a course of action.  If we continue to pretend that a vibrant, prosperous economy is possible without a healthy, prospering working class, the consequences are as catastrophic as the permanent occupation of a Middle Eastern nation.  

The illusion can be sustained for some time by a corporate dominated media but the end result is the same and the price will be proportionate to the duration of the fallacy.  



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