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Now That The Presidential-Election Side Show Is Finally Ending...
11-08-2016, 11:55 AM,
Now That The Presidential-Election Side Show Is Finally Ending...
Now That The Presidential-Election Side Show Is Finally Ending...

<p><a href=""><em>Submitted by Charles Hugh-Smith via OfTwoMinds blog,</em></a></p>
<p><em>Sadly, our self-serving Ruling Elite is only capable of resisting needed transformation by supporting a corrupt, sclerotic status quo.</em></p>
<p><strong>Though it has been billed as <em>the main event</em> for months, the presidential election has always been a side show</strong>--or from one point of view, a freak show.</p>
<p>As I write this on Monday, I have no idea who will win the side show unpopularity contest (i.e. the presidential race)--and it doesn't really matter as much as apoplectic partisans would have us believe.</p>
<p><strong>The reason why it doesn't matter much which unpopular candidate wins is the issues facing the nation are far larger than partisan politics or the corrupt Ruling Elite</strong> that is freaking out about the possibility of a Trump presidency disrupting its self-serving skims and scams.</p>
<p><strong>As I described yesterday in <a href="" target="resource"> America's Ruling Elite Has Failed and Deserves to Be Fired</a>,we are in the midst of a fast-moving Industrial-Digital Revolution that is upending the political, economic and social orders.</strong> The global economy's current <em>mode of production</em> is in fits and starts being replaced with a new <em>mode of production</em> that bypasses the Ruling Elite's centralized skims and scams.</p>
<p><strong>Real reform is impossible in the current Status Quo</strong>, a dynamic I described in my book <a href=";camp=1789&amp;creative=9325&amp;creativeASIN=B01ELXQZGE&amp;linkCode=as2&amp;tag=charleshughsm-20&amp;linkId=33DAOPEVGBNGBS37" target="resource">Why Our Status Quo Failed and Is Beyond Reform</a> and illustrated with this chart.</p>
<p><strong>The Ruling Elite will never allow real reform because real reform threatens their dominance and wealth.</strong> Instead, the Ruling Elite proposes modest policy tweaks that increase their dominance by limiting innovation and competition and transferring the systemic risks and costs of their skims/scams to the non-elites.</p>
<p><img align="middle" border="0" class="wide" src="" width="550" /></p>
<p>If a crisis does threaten their dominance, any meaningful reforms that result from the crisis will be watered down once the storm has passed.</p>
<p><strong>The core problem is the Status Quo and its Ruling Elite rely on centralized hierarchies, regulatory capture and mobile capital to protect their dominance from innovation and competition.</strong> This aligned perfectly with the centralized World War II-era state-cartel/ central-bank <em>mode of production</em> that has dominated the economy and society since 1945.</p>
<p><strong>But the Industrial-Digital Revolution is destabilizing these inflexible, centralized hierarchies</strong> which cannot compete with decentralized, flexible networks in output, efficiency or cost.</p>
<p>This presents the self-serving Ruling Elites with an impossible choice: either embrace the Industrial-Digital Revolution's efficiencies and watch the foundation of their own dominance and wealth crumble, or defend their bloated, inefficient and increasingly bankrupt centralized hierarchies from innovation and competition--a war they are losing and cannot possibly win.</p>
<p><strong>The Status Quo is not just financially bankrupt--it is morally and intellectually bankrupt as well.</strong> The level of insider dealing, self-aggrandizement, collusion and corruption in the Ruling Elite is off the charts, and this is now visible for all to see.</p>
<p><strong>The Status Quo's intellectual grab-bag of narratives and ideologies is devoid of anything remotely aligned with the Industrial-Digital Revolution.</strong> The Status Quo's intellectual grab-bag consists of 70-year old cults (the Keynesian Cargo Cult of Paul Krugman et al.) that have visibly failed and tired throwbacks to 1950: if only corporations weren't global, and if only capital wasn't mobile and if only the central state taxed us even more and borrowed and spent more...</p>
<p><strong>These 1945 ideas cannot possibly succeed in the Industrial-Digital Revolution's <em>mode of production</em>.</strong> But both political parties, the Ruling Elites and the Establishment they dominate have no idea of how to manage this radically transformative <em>mode of production</em>. They are a clueless herd trampling the non-elites as they rush headlong over the cliff.</p>
<p>(I cover this <em>emerging economy</em> in <a href=";camp=1789&amp;creative=9325&amp;creativeASIN=1491222212&amp;linkCode=as2&amp;tag=charleshughsm-20" target="resource">The Nearly Free University and the Emerging Economy</a> and <a href=";camp=1789&amp;creative=9325&amp;creativeASIN=1497533406&amp;linkCode=as2&amp;tag=charleshughsm-20" target="resource">Get a Job, Build a Real Career and Defy a Bewildering Economy</a>, and sketch a new systemic approach in <a href=";camp=1789&amp;creative=9325&amp;creativeASIN=B0178MQI1M&amp;linkCode=as2&amp;tag=charleshughsm-20&amp;linkId=CGXPIKGVST4OBTXU" rel="nofollow" target="resource"> A Radically Beneficial World: Automation, Technology &amp; Creating Jobs for All</a>.)</p>
<p><strong>No leader can stop the emergence of a new <em>mode of production</em>. All they can do is engineer a crash by clinging to the expiring <em>mode of production</em>.</strong> The leadership of the U.S. sees only one path: further centralization that increases the power of the central state-bank-cartel <em>mode of production</em>. This is the road to ruin, akin to protecting the buggy-whip industry and the Whig Party at all costs.</p>
<p><strong>Politicians aren't actually leaders.</strong> All they can do is give voice to what the people are willing to support, resist needed transformation by supporting a corrupt, sclerotic status quo or introduce the people to a new narrative.</p>
<p><strong>Sadly, our self-serving Ruling Elite is only capable of resisting needed transformation by supporting a corrupt, sclerotic status quo.</strong> A new leadership class that actually understands the new <em>mode of production</em> may eventually emerge, but only after the corrupt, sclerotic status quo has deservedly collapsed under its own weight.</p>

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