The astute author of this piece inadvertantly offers argument after argument for the thesis that we have monolithic rule in the US--the Republican and Democratic alternatives are not. The political theatrical production staged by the ruling class hides the reality of the rule by financial elites and their military-industrial goon squads.
However, in spite of offering these arguments, the author can't let herself arrive at the obvious conclusions. I think that this is because capitalism is not merely an economic system in the US. The ruling class has managed to elevate it to the status of a religion. Anyway, let me go through her arguments.
- ...Obama administration...chose to reconstitute, as much as possible, the very same industry whose reckless pursuit of profit had thrown the world economy off the cliff.
- ...the tacit assumption...was the program that the Administration implemented or no intervention at all. But that is bunk. There were plenty of other options....
- The Obama crowd took a tough line with the auto companies, dispatching its top brass, forcing the recipients to produce long term plans, forcing bondholders and union members to take haircuts. Why did the banksters get kid glove treatment? The answer is all too obvious: financiers are one of the biggest sources of campaign contributions.
- The TARP was created by the Bush regime; why not distance yourself from it or deploy it differently?
...incoming president Obama failed to act. Whether he failed to see the opportunity, didn’t understand it, or was simply not interested is moot.In argument 3 above, she offers the explanation of campaign contributions being bigger from the banksters. But that explanation begs the question as to why the latter can offer bigger contributions.
Industrial companies have become like commodities to the capitalist elites and they don't choose one over another on the basis of geographical boundaries, rather they choose to help those who can offer the most profits. Her explanation offers more support for the argument that it doesn't matter who is elected, and explains why the transition between political actors Bush and Obama was such a seamless one.
Yes, US capitalists don't give a hoot if Detroit is transformed into one vast slum. They find that enterprises in low-wage third world countries with lax environmental regulations a lot more profitable.
However, it is clear that there is one industrial sector in the US that the ruling class does care about--those industrial companies that are a part of the military-industrial complex: Raytheon, General Dynamics, Haliburton, Defense Solutions, Veritas Capital, DynCorp, Blackwater, etc.
The reasons for the lavish support of these companies are obvious--they supply the weapons to the enforcers (US military and NATO) of the capitalist Empire. The enforcers keep countries like the former Yugoslavia, Iraq, and Afghanistan under their rule. Though the threat of state terrorism they keep many other countries complying with the policies of US and NATO. They encourage capitalists all over the world to store their wealth in US Treasury securities for safekeeping which supplies us with all of our consumer credit. The enforcers insure the continuing sale of oil in mostly US dollars, and thus supports the currency that the Fed creates out of thin air.