Did you hear the one where America turned into an oligarchy? It goes something like; between the start of the industrial revolution and the start of the Vietnam War land and resource ownership was grabbed and consolidated by a select few and they have been using the influence of said land and resources to try to grab more, more, more…how do you like it? how do YOU like it? how do you like it?
Do you know what municipal bankruptcy is? That has such a striking ring to it, no? Municipal bankruptcy. It sounds much more damning than Chapter 9 Title 11 Bankruptcy.
I grew up thinking that governments were in charge. Federal, state, and/or local. Detroit is like a highlighter pen on a never-ending text-book page of small words, showing who is really calling the shots and who has all along…banks.
Banks nearly destroyed modern civilization as we know it in 2008 and who went to jail? Who got brought up on charges? Did any one Wall Street CEO go through half of what a single mom applying for food stamps goes through? Didn’t think so.
Money talks and cash is king. We all learn that at some point or another. It is one of the many aspects of modern society in which we quietly lie to ourselves so we can believe we are have evolved since the caveman era. Municipal bankruptcy will soon make it impossible to ignore. Detroit is not an exception to the rule, Detroit is a harbinger. Resistance to pension reform has made that all but a certainty.
What does municipal bankruptcy tell us? That we are still serfs and they are still living in the castles. Castles became known as Manhattan penthouses in the mid 1980s. Municipal bankruptcy shows who is really in charge. We can hold all the elections we want but there is a reason it’s called virtual reality. It’s not the real thing. It just looks and feels like it…