US Debt Downgrading Commentary

The recent downgrading of the US debt is a serious point of interest in the crisis of the world capitalist system.

Here’s exactly what happened, Wall Street wanted Obama to use this opportunity as an excuse to destroy everything the government could possibly do to help people live. This means healthcare, education, welfare, unemployment and social security. When Obama refused to do that, the Standard & Poor removed the AAA rating from US Treasury bonds.

Last April the S&P demanded that Obama make 4$ trillion in cuts to programs that benefit the American people before the November 2012 elections.

Now here is what I believe happened here. The ruling class is a collection of people, these people have different opinions on what is to be done to maximize their profits. Many were of the pre-global economic recession mindset that was “destroy everything the working class needs to help us” mode. Now some are of the mind that if you just keep killing the living standards of regular people they are eventually going to revolt.

For more information see: Paris Commune, October Revolution, Chinese Revolutionary War and so on.

I believe that some in the ruling elite are worried about the destruction of the nation. Sure, they really don’t care about the people. What they care about is their ability to make money. If you trash the entire economy, or you create unrest so great people destroy the system, you’re not going to be profitable. You can’t make money if you lose everything to social unrest.

This shows the utter shortsightedness (or insanity) of many of those in the elite capitalist circles. The zombie-like drive towards profits is preventing them from seeing the larger picture, the threat to their money making. They are so determined toward maximizing profits that they can’t see the possible end to it.

Their focus is on people power through government policy, that’s where they believe the threat is. If they force the government to only focus on maximizing their profits and not caring about the people then they consider themselves threat free. In fact, if government doesn’t full fill its role in protecting people from unrestrained capitalism, social unrest will destroy it. This is an even greater threat to them.

If you were a capitalist, what would you rather want? Pay taxes or wake up to find your entire financial empire destroyed by an angry mob and a bayonet stuck in your abdomen?

These elites on Wall Street need to worry less about government raising taxes on them, and worry more about people showing up to their offices with pitchforks and torches.

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