Home > Uncategorized > Posts about Financialism, Totalitarianism and Media Echo Chambers

Posts about Financialism, Totalitarianism and Media Echo Chambers

Here are links to three posts by three different authors about Financialism, Totalitarianism and Media Echo Chambers. I posted them for two reasons. For starters, I am feeling a bit lazy today. But the other reason is that these articles largely mirror what I think on those issues.

The first post goes into some detail about one of the most important reasons why China has displaced USA as the country that manufactures the most stuff. The authors of this piece point out that USA and most western economies are now centered around reant and rent-seeking, which is quite different from how things used to be even forty years ago.

The Consequences of Moving from Industrial to Financial Capitalism

Housing in the United States now absorbs about 40 percent of the average worker’s paycheck. There’s 15 percent taken off the top of paychecks for pensions, Social Security and for Medicare. Further medical insurance adds more to the paycheck, income taxes and sales taxes add about another 10 percent. Then you have student loans and bank debt. So basically, the American worker can only spend about one third of his or her income on buying the goods and services they produce. All the rest goes into the FIRE sector — the finance, insurance and real estate sector — and other monopolies. And essentially, we became what’s called a rent-seeking economy, not a productive economy. So, when people in Washington talk about American capitalism versus Chinese socialism this is confusing the issue. What kind of capitalism are we talking about?

The second linked post is about widespread social atomization and loneliness are a necessary precondition for the emergence of totalitarianism. As many of you know, I have also written extensively about the negative effects of widespread social atomization in the past.

Where Loneliness can Lead

Arendt’s answer was: because loneliness radically cuts people off from human connection. She defined loneliness as a kind of wilderness where a person feels deserted by all worldliness and human companionship, even when surrounded by others. The word she used in her mother tongue for loneliness was Verlassenheit – a state of being abandoned, or abandon-ness. Loneliness, she argued, is ‘among the most radical and desperate experiences of man’, because in loneliness we are unable to realise our full capacity for action as human beings. When we experience loneliness, we lose the ability to experience anything else; and, in loneliness, we are unable to make new beginnings.

The third linked article is about the media in this country (and more broadly the west) has given up all pretensions of not being an extension of the current system and status quo. To make matters worse, almost everyone in the MSM ecosystem now either comes from a sheltered and incestuous ‘elite’ class or desperately aspires to join them.

The Echo Chamber Era

A day after Joe Biden’s inauguration, the headline in Axios read: “Trust in media hits a new low.” Felix Salmon wrote that “for the first time ever, fewer than half of all Americans have trust in traditional media.” The Edelman survey showed overall faith in the press dropping to 46%. The traditional explanation for this phenomenon is that Republicans hate the press a lot, but Democrats just a little. The Axios story bore this out somewhat, as only 18% of Republicans reported trusting media, versus 57% of Democrats. Still, 57% of half your potential audience is nothing to brag about, when you’re in the trust business. Other numbers, like 56% of respondents believing journalists are “purposely trying to mislead people,” or 58% thinking that “most news organizations are more concerned with supporting an ideology… than with informing the public” are more ominous.

What do you think? Comments?

  1. P Ray
    January 23, 2021 at 9:20 pm

    The second linked post is about widespread social atomization and loneliness are a necessary precondition for the emergence of totalitarianism. As many of you know, I have also written extensively about the negative effects of widespread social atomization in the past.

    To agree with you, and in the way of Borat “Very nice, I like” … his brother Simon Baron-Cohen has also made the point that lack of exposure to caring, leads to empathy erosion, making evil deeds possible.

    If other people see you as sub-human, like Hulk, the “sub-human will smash”.

    But of course, resolve this, society will have to be aware on how it creates monsters and sub-humans, but especially in the ways of casual cruelty and dismissal of others through the fields of jobs, dating and popularity.

    That’s not going to happen anytime soon, so the crawling chaos continues …

    • P Ray
      January 23, 2021 at 9:22 pm

      Whoops, mistake, Sacha Baron Cohen is his cousin

  2. January 24, 2021 at 7:12 am

    “What prepares men for totalitarian domination in the non-totalitarian world is the fact that loneliness, once a borderline experience usually suffered in certain marginal social conditions like old age, has become an everyday experience …
    – From The Origins of Totalitarianism (1951) by Hannah Arendt”

    In my 65 years of life, I’ve observed that, like other gender differences in human needs, what is loneliness to most woman isn’t what’s loneliness to most men.

    For most women, it’s about having a circle of friends with whom she can regularly socialize. Women seem to have a strong instinct for “belonging to the collective” (their hypersensitivity to self-image and to criticism seems to root in that – – most women can’t bear having to “stand alone” or feel “unacceptable” or “rejected”…as I was predicting in March, 2020, socially-isolating situations such as the Covid distancing is impacting women pyschologically much more detrimentally than it is men). Women may have evolved that instinct in order to secure a support network for child-bearing – – while her mate was gone hunting, she’d need help from other women with her babies. So, for women, loneliness involves “feeling isolated from other people, primarily other women”.

    For most of us men, loneliness majorically distills to “not having sex partners”.

    Despite the feminista-originated, projecting-how-women-are-wired-onto-men nonsense about “men needing to learn [read: be reprogrammed and even forced if necessary] not to suppress their emotions and social needs [read: needs defined by women in accordance with what women convince themselves they want]”, most every man can cope with being more-or-less “on his own” AS LONG AS his need for sex is satisfied.

    The loneliness which “Ms” Arendt is discussing (which, note, she claimed was ALREADY PREVALENT 70 years ago, in 1951 – – if she was correct, then what “totalitarianism” consequently arose back then, I wonder?) applies primarily to women.

    But, agreed…the rupture in the social contract due to Feminism has caused a higher percentage of men to experience “not having sex partners”. Young men denied a hope of sexual satisfaction have nothing to lose, so may resort to radical means for getting sex – – THAT is a powderkeg possible for Totalitarians to exploit.

  3. marlon
    January 31, 2021 at 3:16 pm

    The first article is genius. Hopefully, China can avoid the feudalist American system.

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