Tag: free enterprise

Crisis Films

Crisis Films posted in Eleison Comments on September 24, 2011

Two interesting films have already appeared about the arrival in the USA of the financial and economic crisis which has been threatening since 2008 to undermine the whole Western way of life. Both films are well made. Both are persuasive. Yet one says the bankers are heroes while the other says they are villains. If Western society is to have any future, the contradiction deserves thought.

The documentary film Inside Job consists of a series of interviews with bankers, politicians, economists, businessmen, journalists, academics, financial consultants, etc. There emerges a frightening picture of greed and collusion in fraud at the top of American society in all these domains. Free enterprise was the justification for the financial de-regulation of the 1980’s and 1990’s, which gave to the money-men steadily more power until they were able to bring under their control all politicians or journalists or academics of influence. Thus a process of merciless plundering of the middle and working classes is still going on. The anger of the victims is building towards an explosion, but at least for the moment the money-men cannot stop gorging at the trough they have so well designed for themselves. “Greed is good. It makes the world go round,” say the banksters.

In the second film, Too Big to Fail, the dramatic events of autumn 2008 centring around the collapse of Lehman Brothers, a major New York investment bank, are re-constructed. Hank Paulson, then Secretary of the US Treasury, is shown making a classic free enterprise decision by refusing a government bail-out to let Lehman Brothers go bankrupt. But the result is such a shock to the global financial community, threatening a meltdown of worldwide finance and commerce, that Paulson with his comrades in government and with the help of all the leading bankers of New York has to persuade the US Congress to approve a taxpayer bail-out of all the big banks which cannot be allowed to fail. He just succeeds. The system is saved. The government and bankers are the heroes of the day. Once again capitalism is proved to be the marvel we always knew it was – thanks to socialist intervention!

Then are the bankers heroes or villains? Answer, heroes at the very most in the short run, but certainly villains in the long run, because it needs very little common sense to realize that, all society requiring selflessness, no society can be built on greed, meaning selfishness. In any society there will always be the haves and the have-nots (cf. Jn.XII, 8). The managers of society who have the money and power absolutely must look after the masses who have neither, otherwise there will be revolution and chaos. Of course the globalists are planning on this chaos tomorrow to give them world power the day after, but while they may propose, it is God who disposes.

Meanwhile Catholics and anybody who cares about the future should go to see both films and then ask themselves some hard questions about capitalism and free enterprise. How on earth could capitalism be saved this time only by socialism? Is government then really all that bad? Is capitalism really all that good? How can a society possibly depend on greedy men to survive? How can it have got itself into such a dependency? And is there any sign right now that anybody is asking such questions? Or is everybody’s worship of Mammon – let us call things by their name – proceeding unchecked?

Unless Jesus Christ absolves men of their sins through his priests, no post-Incarnation system of society can ultimately work. Capitalism only ever lived off the Catholicism from earlier centuries. It is today’s exhaustion of Catholicism that spells the death of capitalism.

Kyrie eleison.

Money-Men Supreme?

Money-Men Supreme? posted in Eleison Comments on November 1, 2008

There is a fascination in reading commentaries on the ever-evolving crisis of global finance. How much more do the commentators tell than they say, of a natural order being violated and taking its revenge! Yet nobody seems to know how the crisis will play out – except the master violators?

To get a glimpse of that natural order, it may be necessary to step back a few centuries. Let us briefly for our purposes define (1) religion as man’s relations to his God, (2) politics as his social relations to his fellow-men, (3) economics as the art of distributing goods between producers and consumers, and (4) finance as the art of handling money. Then the natural order is that as money exists to facilitate the exchange of goods essential to any society, so finance should serve economics. And as the State is ultimately responsible for the well-being of all its citizens, especially those most in need of protection (Leo XIII, “Rerum Novarum”), so the material goods of economics should come under the common good of politics. But politics can only adjust and ensure the common good of all men in any society if it is properly understood what man is here on earth for, and so politics should come under the true religion.

However, modern times, especially since Protestantism, have step by step turned this natural order upside down. England is a clear example. Firstly, politics in the persons of Henry VIII and Elizabeth I, etc., virtually stamped out the true religion of God in England. Then within a hundred years the Bank of England was founded, the world’s first central bank, and the English government and people were off in pursuit of economics and the wealth of nations. But having made free enterprise sacrosanct meant freedom for the major money-men to gobble up the minor money-men, and so free enterprise capitalism turned progressively into the finance capitalism now reigning supreme, not only in England but all over the world.

Thus what we can observe today is both politics and economics vainly struggling against this overthrow of their natural priority over finance. To clean up the mess created by the financiers through derivatives in particular, the politicians are resorting to huge bailouts by the State, in a desperate effort to keep money circulating. On the contrary old-fashioned economists are appealing for a return to free enterprise, as though the mass of today’s citizens do not want to be nannied by the State.

But when the most decent of politicians and economists themselves believe in little but money, how can they possibly get their necks out of the noose prepared for them by the Masters of Money? These most likely think – by means of a slipknot around Vatican finances? – that they have the Lord God himself on a leash! Little, literally, do they know. Poor things!

Kyrie eleison.

Guerrilla Gardening

Guerrilla Gardening posted in Eleison Comments on September 20, 2008

Over the last few years I have advised several owners of a house with a yard or garden to pull up the rose-bushes and plant potatoes. Some of them must have wondered what on earth I was talking about. With the collapse of Wall Street and finance capitalism now well on its way, they may understand better.

It is the last Chairman of the US Federal Reserve, the banksters’ puppet at the head of the banksters’own Sesame Cave, who for several years promoted, pushed and protected those financial instruments known as “derivatives” which the famed American investor Warren Buffett denounced prophetically soon after they appeared as “weapons of mass financial destruction.” In other words the banksters themselves put in place the rolling rock to let loose the avalanche.

“Free enterprise” means in effect survival of the fittest, with freedom for the stronger to eat up the weaker, until takeovers and mergers make enterprises so massive that they become too big to fail. Then, by capitalism’s internal contradiction, the failing enterprises that used to scream for the government not to intervene, now scream for it to intervene, and we see, for instance, the US government nationalising Freddie Mac and Fannie Mae (Sept. 13), AIG, etc. Thus capitalism and socialism that always pretended to be enemies suddenly discover they are friends, while the banksters’ globalism is waiting in the wings to swallow up both of them.

So what is the solution to the grand problem of the false split between capitalism and socialism? Many serious and honest non-Catholics recognize it is to be found in Pope Leo XIII’s famed Encyclical of 1891, Rerum Novarum. That solution is the Gospel. Yes, both capitalism and socialism are problems ultimately religious!

And what is the solution to the immediate problem of rising food prices and imminent war (classic solution for capitalism’s problems)? See the article on “Guerrilla Gardening” in the August 25 edition of the admirable “American Free Press” – dig up the lawn and plant potatoes.

Kyrie eleison.