"Extorting the future"

I've been an admirer of Joe Bageant's writing for a number of years now and today I want to call your attention to a rather long article of his entitled "Americans are 'Hope Fiends' Because Honestly Looking at the Present Situation Would Destroy Just About Everything We Hold As Reality".

I'm giving you just a sample here but I really want to encourage you to click through and read the whole article if you have a few minutes. Yes, it's on the long side but Bageant writes so well that taking the time is truly worth it:

You can argue that people have always screwed other people for a buck, or a drachma or a shekel. You will win with that argument every time. However, the real issue is about how many people got screwed and how hard by how few. Under 250 years of capitalism, the rising take from the ongoing screw job has grown astronomical. Enough to buy every political tub-thumper in Washington and a Supreme Court. Enough that if the elite cartels on Wall Street rip 300 million Americans for trillions, leaving them squinting at the fine print on their eviction notices, they cannot do jack about it. Except pay the next ransom demand for their credit . On their credit cards. Then sign their children into future debt slavery.
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The "crisis" was set in motion by institutions lending each other non-existent money none of them can pay back. Consequently, the masses are once again expected to produce enough material value in the world to make the funny money real, and shore up the system one more time. To "raise the money" to do this will require generations of future productivity shoveled into the furnace of corporate capitalism's banking machinery. There was nothing left to steal, so extorting the future was the only option left. Assuming the skimmers and the scammers manage to extract enough public monies to pump up corporations one more time, there will be another and bigger disaster not far down the road. We don't need the Oracle of Delphi to predict this. Capitalism is unstable as hell, like an unbalanced dreidel that keeps tilting ever more wildly off center until it falls over or eventually hits the wall. We can now see the wall from here: Massive ecological collapse and species extinction. "Economic downturn," even "crisis," does not quite describe that approaching wall. All of America hopes we will miss that wall at least one more time.
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History as we learn it in school is the owning class' version. Despite what we were taught, America's Constitution is mainly a property rights document, and those with the most property are naturally ascendant at all times in this country. Generation after generation of this ascent was bound to lead to what we see now.

This is stuff we don't like to think about. We need to think about it, however. Really, we do.
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