What's Really Keeping Politicians Up These Nights?

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There is much debate and discussion about what is at stake regarding our economy and this bailout of wealth institutions who have gorged themselves on the profits of bad loans, collateral, and absence of prudence in managing that wealth of others. But, no one is telling the truth about what is at stake, or why these politicians are working feverishly with little sleep night and day. What is at stake is what no one in Washington D.C. wants uttered in a public forum. But history is not so silent about what is keeping them all up at night.

In the public discourse, there is talk of financial gridlock, potential banking meltdown, and partial loss of jobs, savings, and pension plans. But that is the rosier side of what potentially lies before us. That rosier side is what President Bush outlined in his speech last night. There is a far darker potential here. This bleaker and more dangerous potential for failure in D.C. to get this right, is what no politician will talk about in a public venue.

Underlying our paper and financial markets is a very real world of goods, or commodities, necessary for sustaining life which are traded, and which constitute a very real Adam Smithian type of wealth foundation to all economies large and small. This level of economic structure can and will only be impaired by lack of physical transport of goods or inability to agree upon a medium of exchange with predictable valuation over time (currency).

Which means, the wealthy who own the commodities, or access to, or distribution means of, those commodities will survive a collapse of the house of cards built upon this Smithian commodity based economy. Those without control of commodity exchange and sources, will not survive or, will become the servants of those who do control the commodities. That is the theory. The reality however is something else again.

In reality, such collapses down to the commodity base level of the economy often result in revolution, violence, civil disruption, and even the murder of those with the ownership, access, or distribution capacity over real world commodities. And this is the potentiality that those like Bernanke, Paulson, and Bush are truly concerned about. This isn't politics. This isn't really even about wealth maintenance. It is about staying anarchy and revolution in its most naked and basic forms. They aren't lying about this being a precipice. They are only lying about what lies at the bottom of it: anarchy and revolution.

The founding fathers understood this all too well being revolutionaries themselves. They also knew that a well armed population was the greatest incentive for those in government and in control of wealth, to act with a sense of noblesse oblige, a duty and responsibility to the welfare of the whole nation, not just their immediate circle of family and friends.

And that is where we are at this very moment: at the precipice. One more step too far, and the people losing their savings, their jobs, their means to life, liberty and the pursuit of happiness, will revolt, take up arms, and take by force and violence what they need to keep their children fed another day, their bodies clothed another month, and a roof over their heads even if they have to cannibalize parts of it for heat and cooking.

It is truly criminal by the laws of understanding of our founding fathers, what is unfolding before our eyes. This was never supposed to happen again. The White Male Landowners given suffrage at the birth of our country were assumed to have sufficient motivation, sufficient education, and sufficient access to the goings on in government and enterprise, as to motivate them to vote and act as responsible representatives of the integrity of the system which supports them.

From the White House, to Congress, the Federal Reserve,to Investment bankers, the regulatory enforcers to the real estate brokers and sales personnel, to the customers who gambled on owning more than they could reasonably afford, this system has failed in a most basic and most fundamental way. Whether or not a fix can be fashioned to prevent personal greed and power from overruling obligation and responsibility to the welfare of the nation, we will find out in the coming days, months and year. But, the threat within we now face, is far graver than any even potentially posed by the likes of al-Queda or Islamic fundamentalism.

It will not stand that the people will bail out wealthy, powerful transgressors while suffering the current bankruptcy laws that force the lowly workers and middle class into indentured servitude to these same financial institutions and wealthy transgressors. This is the stuff of Revolution, Bastille Day, the beheading of Kings, and the trampling underfoot the agents and defenders of tyrants. This is a politician's worst nightmare. We are watching them scramble to save us all from sharing it with them, and keep their heads attached to their bodies.

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This page contains a single entry by David R. Remer published on September 25, 2008 10:42 AM.

McCain: Know Him By His Staff was the previous entry in this blog.

Politics or Country. Politics Wins Rnd. 2 is the next entry in this blog.

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