The unique species of historical event we call a revolution
occurs when everything changes at once
Here comes everybody
Lets see, what do we hate today? Institutionalized sleaze in government via lobbying and campaign finance? Corruption in the corporate sector? Blatant abuse of trust on Wall Street? Cheating in sports? The mendacity of politicians? Cheating in public school systems? Presidents of Universities making multi-million dollar salaries, jacking up tuitions while heavily indebted students get teaching assistants at class instead of professors?
We despise it all, but we get up everyday and go about our business without doing anything to change it. Vote? For whom? The least slimy of the slimeballs on the ballot, that’s all. It’s a tiresome circumstance and our circumstance is to wish it away. Good luck with that.
At coffee, last week, my friend John says, “I just read your blog and I’m depressed.” Excited, is what he ought to be. If you re-read my last essay (and numerous others over the recent past), you might conclude, as I do, that the global financial structure is verging on collapse. “Grexxit,” the term coined for Greece’s probable default on its $430 billion in debt and exit from the European Union, is just the opening salvo of the entire globe coming to terms with truth: We are all broke. This is when something good can happen.
There is no fixing the system. It has to be uprooted and leveled, a complete teardown. Why? Because the people in the power centers today are making it big by screwing the rest of us. We can depend on them paying lip service to change while they work their scams with impunity.
Socionomics hypothesizes that social mood drives behavior in a pattern of rises to excess, corrections that clean out the excesses, to be followed by the next phase of advance. At peaks in social mood the markets are overdone, and behavior is decidedly undone. Power aggregates to ever smaller cohorts of greedy sociopathic types with little in the way of a moral compass. 1929 was that type of top. The subsequent crash took 89% of the value out of the Dow Jones Industrial Average, and many companies went out of existence, mostly outfits in which the managements had been managing for their own benefit exclusively.
The ensuing decade saw the elimination of much of the misfeasance in the financial, business and political system. The rebuilding that followed was sound, greatly benefitting the broad population for the next half century. Eventually, starting in the 1980s, excesses appeared and the grinding denigration of the system got underway. Now, eighty-three years later, we are back in the same condition as we were in ’29, only worse by far.
There have been three bear markets since 1932: 1937-41, 1966-73, and 2007-09. None of these were deep enough or severe enough to do the job like the 1929-32 episode, either domestically or globally. The 2007-’09 crash looked like it had a chance, but the central bankers of the world took it upon themselves to interfere with the natural rhythm of social behavior by printing money by the boatload. They and we will live to regret it. We are now far worse off in every respect than we were at the last top.
There must be a reckoning. It will be severe beyond my ability to imagine. The market should lose most of its value–unfortunate. But we will also get rid of most of the sociopaths in the corporate, financial and political system because when everything changes to the extent anticipated by the Wave Principle, we will no longer just complain and go about our business.
As in the past, severe losses in the markets and the economy will galvanize society. It will be a revolution. We will then, finally, demand and get significant change. The Koch brothers, with their cohort of billionaires will not be able to ram their toady candidates down our throats. The broader population will hold sway at the ballot.
The process will be painful, extremely so for some. But it will be a damn sight better than continuing down the road of systematic destruction of the middle class the nation has been on.
There is no way to plan for this revolution because there is no way of knowing in advance what the catalyst will be or how it will play out. It’s more a matter of being alert, not panicking, and being flexible and adaptable to whatever changes the circumstances demand. See you on the ramparts.