Whatever Became Of Western Civilization?

A Total Collapse of Economic & Government Morality

Not that long ago government and free market proponents were at sword’s point, but no more. With little left in the private sector to rip off, the financial gangsters have turned to the public sector and put to work for them the free market economists’ advocacy of privatization. Governments themselves became part of the conspiracy once the politicians realized that looting public assets was an efficient way to reward their private benefactors.

We can see the entire picture in the David Cameron government’s privatization of the British Royal Mail. The prime minister has described the looting as “popular capitalism” even though the British public overwhelmingly opposes turning over the mail service to a profit-making enterprise.

The British government’s pursuit of policies opposed by the public shows the absence in Britain of the very democracy that British prime ministers, such as Blair and Cameron, are so anxious to help Washington spread with invasions, cluster bombs, and depleted uranium to Afghanistan, Iraq, Libya, Syria, and Iran.

Here is how the Royal Mail is being privatized or, rather, looted.

First Cameron’s government, guided by the financial gangsters, undervalued the assets of the Royal Mail and assumed mail delivery charges below those that will be charged. This fictitious accounting allows public assets to be transferred to the politicians’ private benefactors at a price below their value.

For example, all of the Royal Mail’s real estate is being transferred to the new private owners for less than the value of the Royal Mail’s London real estate alone. Neil Clark reports that one Royal Mail London depot is worth about one billion British pounds; but the entire real estate assets of the Royal Mail–public property–is being transferred to the new private owners for about three-quarters of one billion British pounds. The deal was so loaded in favor of the private purchasers that the share price rose almost 40 percent on the first day of trading. (This might have been some sort of nominal trading as the deal possibly has not been finalized.)

According to reports, many of the mail carriers are going to lose their jobs, and the public, not the private purchasers, is stuck with the liability of the Royal Mail pension fund, which is about $55 billion dollars. So the private looters get the assets but not the liabilities.

The purchasers are the financial gangsters in whose behalf economic policy is run in the US, UK, and Europe, and, you guessed it, Goldman Sachs made $33.5 million “advising” Cameron on the sale.

Wall Street and the City of London, the two world financial centers so beloved and misrepresented by free market economists as financiers of investment and economic growth, are in fact legal, government supported, Mafia gangs that loot. Their profits come from looting.

We are seeing them at work in Greece, where the sanctity of financial profits requires public assets to be sold at bargain basement prices to private interests. The deal requires protected islands of the national heritage be turned over to real estate developers, and public assets such as water companies, ports, and the state lottery be sold at lucrative prices to private interests consisting of the private banks and their clients.

In Italy government indebtedness is forcing the sale to private investors of historic castles and villas and the Island of San Giacomo in one of Venice’s lagoons. These national treasures will be turned into hotels, restaurants, and resorts for the one percent.

Are the British Museum and the Smithsonian next to be privatized?

In America prisons are privatized despite the incentive this gives to produce inmates.

Public schools are being privatized in the form of “charter schools.” Charter schools are a scheme to eliminate public sector teachers unions, and to convert their pay into private profits by bringing in contract hires to teach for a few years before they are replaced by a new group of contract hires.

Western civilization, to the extent than any civilization remains, is confronted with a total collapse of economic and government morality. Looting and exploitation rule, and the presstitute media does its best to hide the fact.

Western civilization has been reduced to remnants–historical artifacts, picturesque villages in England and France, German efficiency, joie de vivre and good food in France and Italy, and architectural masterpieces and classical music created before our lifetime.

In addition to Wall Street’s mechanisms for looting, America contributes technology for putting the entire world under constant surveillance, exploiting the information for economic benefit and for silencing dissenters.

Western civilization has lost its attractiveness. As nothing remains but a shadow of its former self, it will not be missed as it disappears into a bottomless pit of corruption.

# # # #

Paul Craig Roberts, Boiling Frogs Post contributing author, is a former Assistant Secretary of the US Treasury and former associate editor of the Wall Street Journal. He has been reporting on executive branch and cases of prosecutorial abuse for two decades. He has written or co-written eight books, contributed chapters to numerous books, and has published many articles in journals of scholarship. Mr. Roberts has testified before congressional committees on 30 occasions on issues of economic policy, and has been a critic of both Democratic and Republican administrations. You can visit his website here.

© PaulCraigRoberts.org


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Comments

  1. Thank You Paul for those true Words.

    Kind regards from me

    living in europe..Denmark.

    Thank You Sir.

  2. avatar tonywicher says:

    Dr. Roberts, it’s a terrible picture you paint of the decline of Western Civilization, but without suggesting a positive solution, this is an expression of despair. Here is the best one I have heard. (1) Congress must assert the national interest by re-enacting Glass-Steagall. Pass HR 129 and S 1282. This will protect what is left of our economy from the coming financial meltdown. Then Wall Street and the world financial oligarchy will be bankrupt. You may say this will never happen, but under conditions of imminent economic collapse, maybe enough of Congress will wake up. (2) With our economy thus freed from the grip of the global bankers, we can proceed to restore the economy via the American System of public credit actually built into our Constitution by Alexander Hamilton. The Federal Reserve can be converted into a public infrastructure bank. Instead of bailing out the banks at the rate of 1 trillion + per year, we can use that money for public projects of state, national and international scope that create far more real wealth than the amount invested, along with millions of well-paid jobs and a rising standard of living. The people and their congressional representatives must revolt against the rule of Wall Street. We stopped the war in Syria. Now let’s stop Wall Street!

  3. avatar colinjames says:

    It’s gonna take a lot more than Glass-Stiegal and a Congressional come-to-Jesus moment to rid the world of the scourge that is Central Banksters. I agree we most retain hope against all odds but a complete transformation will occur only when a critical mass of the public demands it, if a complete and total breakdown of the global financial system doesn’t occur first. Then all bets are off. I just wonder what it will take, how much more suffering and pain will be inflicted on the world by these mad-men and women, soulless jackals that they are, before either of those things happen. The greed and power-lust is staggering, but as they brazenly grab more and more of what’s left of the world’s wealth and treasures, therein lies the opportunity to expose them for what they are, the lies they tell, and the damage they do. It just can’t go on like this for much longer, certainly not forever.

  4. avatar CuChulainn says:

    privatization of the mails? hallelujah!

    PCR is clearly not saved, he fails to realize that destruction of the commons, primitive accumulation, is a hallmark of anarchy-capitalist progress

    better bring him some 100 proof koolaid, Jimenez & Corbett vintage, they can teach him a thing or two about economics

  5. avatar tonywicher says:

    ChuChulainn, that is not fair, PCR is no anarchist, and “capitalism” as such is not the problem. The problem is international finance capital. Study Alexander Hamilton, learn what the American System of soverign public credit.

    colinjnames,

    “A lot more than Glass-Steagall”, which you obviously know so little about that you can’t even spell it? Go to LaRouchePAC.com/glass-steagall and learn something, OK?

  6. Financial gangsters are people too. Who are we to condemn their lifestyle and philosophy? What of diversity and inclusiveness and multiculturalism?

    The exercise of moral authority invariably hurts someone’s feelings, and we can’t have that! Not these days. It just isn’t fashionable.

    A society of touchy-feely wussies which gives over the schooling and raising of its children to the ‘authorities’, gets exactly what it has coming: Screwed in the rear, and eventually a face-full of jackboot.

  7. avatar tonywicher says:

    Knarf,

    There has been a moral and cultural degeneration of the whole country since the assassination of Kennedy. Our public schools from kindergarten to college were the envy of the world. Teachers were respected and decently paid. Nobody thought of sending their kids to public school as “turning them over to the authorities”; they were sent to get an education from qualified teachers. Public schools were the legacy of Benjamin Franklin and the foundation of the American system of equal opportunity for all. There was no violence, no drugs – kids said the Pledge of Allegiance, then sat down to learn their three R’s. We as a nation were rightly proud of ourselves and looked forward to a bright future. The Kennedy assassination, the other assassinations and then the Vietnam War destroyed and demoralized us. Bloody treason flourished over us, and in our hearts we knew it. We drowned our sorrows in drugs and booze. We became cynical and alienated and detached. After three generations younger people have forgotten that there could be such a thing as a government that represents them. Many become anarchists. This view is encouraged by our imperial overlords, who would like what this country once stood for to be buried and forgotten.

  8. avatar tonywicher says:

    jin59b, It’s not really a “De-Americanized” world we need, it’s a de-imperialized world, and a de-imperialized USA. We as Americans must rediscover our real anti-imperialist roots.

    Enjoyed the Talking Heads song. Maybe you would like this:

  9. tonywicher Says: We as Americans must rediscover our real anti-imperialist roots.

    Thank You.

    I am With you.

    kind regards.

  10. I am very very greatful for your work. We need you now when the end of time is closing in upon us.

    Thank you sir !

    Bo Modén
    Ret. civilservant and former representative for Save The Children Sweden in Central America during the Reagan Administration´s war´s in Central America

    Gothenburg Sweden

  11. Hello Bo
    En röst ifrån Sverige..a vocie from Sweden.
    Tak fra Danmark..thanks from Denmark.

    My hope is we are not alone.

    Because we must Not let ordinary people in the USA
    stand alone, with this bad virus from Washington and London.

    Kind regards

    a former nato soldier from Denmark.

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