On another level we are experiencing the financialization of the Western economy about which Michael Hudson is the leading expert (Killing The Host). Financialization is the process of removing any public presence in the economy and converting the economic surplus into interest payments to the financial sector.
These two developments deprive people of economic prospects. A third development deprives them of political rights. The Trans-Pacific and Trans-Atlantic Partnerships eliminate political sovereignty and turn governance over to global corporations.
I have been meaning to write about this at length. However, others, such as Chris Hedges, are doing a good job of explaining the power grab that eliminates representative government.
The corporations are buying power cheaply. They bought the entire US House of Representatives for just under $200 million. This is what the corporations paid Congress to go along with "Fast Track," which permits the corporations' agent, the US Trade Representative, to negotiate in secret without congressional input or oversight.
Once these partnerships are in effect, government itself is privatized. There is no longer any point in legislatures, presidents, prime ministers, judges.
Corporate tribunals decide law and court rulings.
It is likely that these "partnerships" will have unintended consequences. For example, Russia and China are not part of the arrangements, and neither are Iran, Brazil, India, and South Africa, although seperately the Indian government appears to have been purchased by American agribusiness and is in the process of destroying its self-sufficient food production system. These countries will be the repositories for national sovereignty and public control while freedom and democracy are extinguished in the West and among the West's Asian vassals.
Violent revolution throughout the West and the complete elimination of the One Percent is another possible outcome. Once, for example, the French people discover that they have lost all control over their diet to Monsanto and American agribusiness, the members of the French government that delivered France into dietary bondage to toxic foods are likely to be killed in the streets.
Events of this sort are possible throughout the West as peoples discover that they have lost all control over every aspect of their lives and that their only choice is revolution or death.
The views expressed in this article are solely those of the author and do not necessarily reflect the official position of Sputnik.
The views and opinions expressed in the article do not necessarily reflect those of Sputnik.