After a 40-year trek in the desert, Moses took his people to the river Jordan. They crossed. He didn’t. America has been on a 40-year readjustment ever since real wages, particularly for people in the labor class, started to flatten. By 2008, a major readjustment in the economy spawned the first great threat to a Baby Boomer class entering retirement.
This widening gap between labor and capital compounded by a meltdown in the financial markets and the “I’ve had it up to here” exasperation by Rick Santelli on the floor of the Chicago Mercantile Exchange gave birth to a Tea Party that saw America falling further and further under the sway of the banks.
The promises of “hope and change” extended to the voting public by a young president from Illinois did not translate into any policies that would close this gap. On the contrary, the banks were provided with three legislated mechanisms (TARP, HOPE, and Dodd-Frank) that would strengthen their balance sheets versus sending alleged perpetrators of the alleged economic fraud to jail.
Forty years after the beginning of The Gradual Descent, Baby Boomers now see either no yields on their accumulated cash or worse, see a Federal Reserve willing to go the European route by asking investors to “pay”, via negative yields, the banks for holding their cash. As if to rub the salt further into the wounds, voters were now being asked by the wife of the leading architect of a corporatized Democratic Party, a former member of an Administration that turned a blind eye to the widening gap between capital and labor, to continue the work of the last Administration.
While the 2016 popular vote favored the Democratic candidate by a delusional and deluded 3 million votes, the Tea Party reached out from the Flyover States and gave the electoral college decision to a reality TV star, an admitted political outsider (and genital grabber) who the Republican Establishment could not control and the Democratic Party loathed.
While the 2016 election’s presidential winner promised to “Make America Great Again”, the four years since that victory has produced a further diversion by the financial markets from the real economy, a diversion that is setting the table for what I believe will be political calamity for the American polity in 2024 and 2028.
Whether the 2020 Democratic candidate wins in 47 days will make no difference to what is to come in 2024 and 2028. Fringe elements of the Democratic Party in concert with non-party societal fringe elements who still want a government (they are mistakenly referred to as anarchists) will be given license to break up a Democratic Party whose very Establishment is too weak to keep the far left in check. The Big Tent will implode and the implosion will give western states pause to consider seriously the possibility of seceding from a political economy too undisciplined to maintain a union.
America’s trek to its river Jordan is coming to end. Some people, particularly blacks, will not want to cross the river, preferring to hold on to a myth of America that was never intended to materialize. Blacks are too rule-based and a rule-based people hanging on to myths won’t survive a new frontier as the collective they now know. Only capital will make the crossing.
Election 2016 was the doorman at the restaurant. Election 2020 is the server. Elections 2024 and 2028 will provide the feast for those who recognized early the emergence of a new American order. “You should move to a small town, somewhere the rule of law still exists. You will not survive here. You are not a wolf, and this is a land of wolves now.” — ‘Alejandro’