It is with all confidence that I can say the recent election results have indisputably ushered us into a full-blown Financialization Era. We can no longer claim to be a democracy, we are now an oligarchy.
While I can whole-heartedly empathize with the need and want for change, I fear we’ve said good-bye to any semblance of democracy.
President-elect Trump, CEO, businessman, and person with very little diplomacy skills is poised to usher in ‘change’ as he claimed during his campaign: ‘change’ from corporate cronyism, ‘change’ from status quo economics, ‘change’ from politics as usual.
I predict we will get change, but not change for the better. Already Mr. Trump has invited several people onto his transition team who are deeply embedded with Wall Street. He has several business ties that raise concerns about our national security. His economic proposal includes even more de-regulation and tax policies that portend a wider gap between rich and poor. We stand a good chance of going to war again (I predict it will take less than 24 months for us to get there) and there are plenty of Washington elite who are able to earn millions of dollars through defense contracts if we do.
Financialization refers to a series of societal characteristics where the elite make policy, steer legislation, and direct the nation in its course. It directly opposes a democratic approach where elected leaders enact avenues where citizens are given equal opportunities, economically and otherwise, as well as basic rights and freedoms. While it’s true that a second Clinton presidency would have blurred the lines between democracy and oligarchy, a Trump presidency pushes us completely over the edge into an abyss from which this writer/voter is concerned we can never return.
In other words, we have reached a point of complete financialization. Stay tuned for the damage reports.