To know how far we've descended along the path to global fascism, with authoritarian technocrats in partnership with ideologues like Barack Obama pulling the levers and picking the winners and losers, consider this opening to a puff piece on the rise of state capitalism by Joshua Kurlantzick of teh Council on Foreign Relations for Bloomberg Businessweek, here:
Over the past five years, as much of the developed world has staggered through crisis, a new type of capitalism has emerged as a challenger to laissez-faire economics. Across much of the developing world, state capitalism—in which the state either owns companies or plays a major role in supporting or directing them—is replacing the free market. By 2015 state-owned wealth funds will control some $12 trillion in assets, far outpacing private investors. From 2004 through 2009, 120 state-owned companies made their debut on the Forbes list of the world’s largest corporations, while 250 private companies fell off it. State companies now control about 90 percent of the world’s oil and large percentages of other resources—a far cry from the past, when BP (BP) and ExxonMobil (XOM) could dictate terms to the world.
Kurlantzick spends not one moment considering the massive European and American efforts to prevent creative destruction in the banking and housing industries through the use of bailouts and monetarist central banking interventions, which represent state capitalism already in practice at the expense of hostage populations. Well, why would he spend any precious column inches on an utter and abject failure?
There's no room for that in a propaganda piece for the status quo.
