econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 25 January 2017

25 Years Of Neocon-Neoliberalism: Great For The Top 5%, A Disaster For Everyone Else

by Charles Hugh Smith, Of Two Minds

It cannot be merely coincidental that the incomes and wealth of the top 5% have pulled away from the stagnating 95% in the 25 years dominated by neocon-neoliberalism.

One unexamined narrative I keep hearing is: "OK, so neocon-neoliberalism was less than ideal, but Trump could be much worse." Let's start by asking: would Syrian civilians agree with this assessment? The basic idea in the "OK, so neocon-neoliberalism was less than ideal, but Trump could be much worse" narrative is that the modest problems created by neocon-neoliberalism will pale next to what Trump will do, implying jackbooted Waffen SS troops will soon be marching through America on Trump's orders.

This narrative is yet another example of American parochialism: since neocon-neoliberalism didn't cause American cities to be bombed and its institutions demolished, it's really not that bad.

Try telling that to the Iraqis, Libyans and Syrians who have been on the receiving end of neocon-neoliberalism policies. The reality is very unpleasant: for those targeted by America's neocon-neoliberalism, nothing worse is imaginable, because the worst has already happened.

The cold reality is America's 25 years of neocon-neoliberalism has been great for the top 5% and an unmitigated disaster for everyone else in the U.S. and the nations it has targeted for intervention.

Those defending the Democratic Party's 16 years of neocon-neoliberalism (Clinton and Obama) and the Republican Party's 8 years of neocon-neoliberalism (Bush) are defending a system that benefited the few at the expense of the many.

Rather than admit the past 25 years have been catastrophic for the bottom 95%, the apologists speak darkly of fantastical visions of a Nazi America as a diversion to the grim truth that they have blindly supported an evil Empire that has stripmined the bottom 95% in America and laid waste to entire nations abroad.

Neoconservatism's malignant spores hatched in the Reagan years, and spread quickly after the collapse of the Soviet Union. Stripped to its essence, Neoconservatism is American Exceptionalism turned into a global entitlement: it's our right to intervene anywhere in the world we choose to defend what we perceive as our interests, and it's our right to impose our version of democracy and a market economy on other peoples.

Self-interest melds seamlessly with moral superiority in neocon-neoliberalism. The moral justification is: since ours is the best possible system, we're doing you a favor by tearing down your institutions and imposing our system on you. The self-interest is: garsh, the "market" we imposed extracts your resources and benefits our banks and corporations. Amazing, isn't it, how "free markets" benefit everyone?

But not equally. The claim of neoliberalism is: everything is transformed for the better when it is turned into a market. Once buyers and sellers can meet in a transparent marketplace, everybody prospers and everything becomes more efficient.

Stripped to its essence, neoliberalism is: the markets we set up are rigged to favor those at the top. All that talk about free markets is just public-relations cover to mask an intrinsically rigged quasi-market that has features of "real" markets while beneath the surface, it's rigged to the advantage of big players at the top of the wealth-power pyramid.

Neoconservatism and neoliberalism are both inherently global, and so globalization is the necessary outcome. There is no market that cannot be skimmed for outsized profits once it has been globalized, and so once bat guano becomes a global tradeable commodity, Goldman Sachs establishes a bat guano trading desk. (This is a spoof, but you get the point.)

Neoconservatism entitles the U.S. to have an "interest" (as in profitable interest) in every nook and cranny of the planet. Policy changes in Lower Slobovia? It's in our "interest" to monitor those changes and intervene if the policies are "not in our interests."

Neocon-neoliberalism is brilliantly evil because it masks its true objectives behind such warm and fuzzy PR. Those looking for enemies of the people will find them not on the streets of America in cartoonish display but in the corridors of financial and policy power.

Dear apologists of the status quo: do you understand you're defending this?

Notice how the wealth of the bottom 90% nosedived once neocon-neoliberalism became the de facto policy of Democrats and Republicans alike. No wonder Obama's two terms seemed like Bush terms 3 and 4--in terms of a continuation of neocon-neoliberalism, they were.

Yes, profound changes in technology, automation, and geopolitics have influenced finance and wealth, but it cannot be merely coincidental that the incomes and wealth of the top 5% have pulled away from the stagnating 95% in the 25 years dominated by neocon-neoliberalism:

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical Opinion Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Opinion


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Slow Economic Growth Will Be Around For A Long Time
The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 2
News Blog
NASA Precise Landing Technologies Tested On Vertical Testbed Rocket
March 2017 Conference Board Consumer Confidence Highest Since 2000
Richmond Fed Manufacturing Survey Again Improves In March 2017.
Case-Shiller 20 City Home Price Index January 2017 Shows 5.7 % Year-over-Year Growth
A Changing Rulebook To Tame The New Global Arms Race
Infographic Of The Day: Chart: Understanding Alphabet's 4 Billion Dollar In "Other Bets"
Early Headlines: Asia Stocks And Dollar Up, Oil, Gold Steady, Obama Climate Policies Gone, US Oil Glut, Euro Surges, Shorts Remain, Trump Into Yemen?, Iran-Russia Deals, Cat 4 Cyclone Hits Oz, And More
March 27, 2017 Weather and Climate Report - Will the MJO Deliver a Nino?
The Most Reputable Companies Worldwide
Gut Bacteria Play A Role In Long-term Weight Gain
What We Read Today 27 March 2017 - Special Public Edition
Is Less More In The Smartphone Market
Average Gasoline Prices for Week Ending 27 March 2017 Statistically Unchanged - Again
Investing Blog
The Dollar's Coming Impact On Markets
The Real 401k Plan Manager 27 March 2017
Opinion Blog
Macron May Lead But Le Pen Remains The Big Story
Is The 20th Century Still The 'Hayek Century'?
Precious Metals Blog
These Gold Stocks Will Produce Much Bigger Gains Than Gold Itself
Live Markets
28Mar2017 Market Update: Wall Street Ends 8 Day Losing Streak, DOW Up Triple Digits After Strong Consumer Confidence Number, US Dollar Climbs Higher, Energy Up 1%
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved