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When Democracy Dies

by Mitch Feierstein about 17 hours 33 minutes ago

Planet Ponzi – the massive build-up of debt, the total loss of political transparency – had caused multiple casualties across the world. The failure of banks, the huge rise in government debt, the failure of business, the loss of jobs, the pressure on real incomes – all these things stem from the same dark causes.

But there’s one consequence greater than any of these things. In the last few weeks, democracy has taken a pasting. For all Berlusconi’s faults (and there are many), he was the democratically elected leader of his country. The new Italian government does not boast a single elected politician. The Italian people have had nothing to do with choosing the direction of their country. Given that their nation has faced no more serious issues since the Second World War, this is a somber thought indeed.

It’s the same thing in Greece. George Papandreou may not have been a perfect leader, but he was the country’s elected leader. When Europe presented Greece with an ultimatum, Papandreou’s first instinct was to take that offer to his country. The future of the Greek people would be defined over the next ten years or more by these matters: Papandreou was right to consult his nation. As soon as the ‘international community’ got wind of those plans, he was promptly rebuked, he left office – and a new government took power without an election.

In the United States: the same thing. The budgetary ‘super-committee’ was set up in the wake of the debt-ceiling vote to define a budget strategy for the US government. That is: party apparatchiks chose – without election or public consultation – the men and women who will plan the nation’s fiscal future. Again: a total absence of democracy, a total lack of transparency.

And what happens? What emerges from this process? Answer: failure. The politicians in America, as in every country, are chosen in order to debate and solve the leading issues of the day. They need to solve those issues through open debate and place themselves in front of the electorate sufficiently often that the electorate can express a view.

In America, our political process has shown itself, so far, incapable of this basic task. To speak bluntly but fairly: American democracy is, at the present time, failing the nation.

Even in the countries, like Germany, that are not a part of Planet Ponzi, democracy seems close to collapse. Why should the German people be asked to bail out their southern neighbours and not get a vote on it? Why should the ECB pile into buying Italian bonds – probably illegally – and yet the people of Europe have no say on these things? Why should the British government refuse a Euro referendum, simply on the grounds that the leaders might not like the answer?

The solutions to Planet Ponzi are simple. More democracy not less. Less debt, not more. At the moment, we have things – tragically – the wrong way round.

12 Responses to: When Democracy Dies

  1. The hallmark of democracy is the ability to debate. Your blog begins the debate and you should be applauded. I find your blog informative.

  2. Alan Watt says:

    What we now see in Italy and Greece, so-called “unity governments” (what NGO came up with that term BTW?) is merely an open view of how the world is really governed. Democratically elected politicians do not run anything. They are only presented to us by the elite who actually run this neo-feudal system so the serfs have a dialectic in which to engage toward the illusion of choice. Unelected technocratic “unity” governments comprised of BIS puppets are nothing more than showing us in plain view the tyranny we have been living under since the central banking cartel solidified control via imposition of its currency in 1914. Why do you think countries with unallied central banks have been fallying like dominoes over the last few years? The process is almost complete and if people don’t wake up and stop the BIS and its central banking control mechanism our children are doomed to a brutal existence of serfdom under a system most won’t ever understand.

  3. Democorruptcy says:

    Isn’t it time to stop using the word “democracy”? In the UK our politicians do not represent the interests of voters. When government policy is for hire it’s a “democorruptcy”.

    • David A says:

      The CONLABLIB Party are voted for by Sheeple in the UK who have passed through indoctrination schools (Education System) . Until the stupid idiots wake up nothing will change! However, The English Spring is here, on it’s way and growing!!

  4. Kevin Kelso says:

    Mitchel Feierstein interview with Max Keiser was very impressive and reminded me of the group in the movie POSIDEN ADVENTURE who new the TRUE way out! The way Mr Feierstein talks with apparent turgid research and life experience in hedge fund industry of Walstreet reminds me of progressives like Gore Vi Del. In response to Mr. Feiestein exposing the neo feudal system this very system as I understand it was deliberately put in place via “the father of communications” being the rise of PUBLIC RELATIONS INDUSTRY after WWI (using Creeal Commission tactics from WWI property confication now to be used in adveritisely to create feelings of “lack” so to speak. That is getting people to buy things not on need buy on manufactured desires via advertising ponzi schemes of varies degrees. The father of communications being EDWARD LOUISE BARNEYS and his hinch pin being spin-mister Walter Lipman. Walter Lipman being a 1940′s national news commentator guiding the so called bewildered heard being the public mind and “cool-observer” Managerial Class to guide them). There is a splendin documentary on this entitled CENTRY OF THE SELF produced by Adam Curtis who chose economist/professor, I believe Doctor Schieff auther of SUPER CAPITALISTISM. Schieff has appeared on Opera Winfery when Opera had her regular pulic TV talk show. Opera achitype persona of being postive in one charactor vital since negativity without reaonable justification is destructive for constructive betterment of ourselfves and our affiliations.

  5. tony says:

    Read the book and like the blogs. You are confirming the merits of a journey I started in the early 1980s when a financial commentator and adviser Bob Beckman advised the readers of his book ‘The Down Wave’ to invest in Stripped Treasuries on a risk reward basis.

    His explanation of the magic of compound interest at the prevailing levels of interest were a revelation and though his timing on some matters was terrible, following his basic investment premiss has been very positive.

    Your book, like his, should be a life changer for many. Most importantly, like your self, Bob Beckman inspired readers to question everything and think differently.

  6. R.W. says:

    To Mitch and those that think Democracy is a good idea,
    Nothing will change and our democracy (if you can call it that) will certainly die (if it hasn’t already) unless and until we invest in publically funded elections. I call the movement I’d like to see: Public Money 4 Public Office. The idea would be that no candidtate can use any campaign money other than that alloted, not even his/her own money and every candidate recieves the same amounts. Perhaps they have to amass a certain number of signatures in order to qualify as a candidate. In any case we must make our political candidtates beholding to the voters (I know, what a ridiculous concept). Regardless of the cost, PM4PO would be the best investment we the people could possibly make in our country.

  7. Mitch Feierstein says:

    Thanks RW,
    In Planet Ponzi, I discuss the outrageous lobbyist funded conflicts and the “revolving door” between Washington and Wall Street in detail. This non-sense must change now. It can only change when voters demand those changes. It sends a very wrong message to our politicians when voters “reinforce failure” by re-electing officials who do and say anything win elections, yet fail to deliver and play a pathetic blame game. I wrote Planet Ponzi to give voters that motivation!

  8. eric says:

    Simple game theory, where the equilibrium between opposing forces is met- directionality can be determined. In this case the long term interest to sustain the planet, leave behind a good future, for future generations country and planet, are all opposed and OUTWEIGHED by the short term interest of living comfortaby for oneself and their kin. Of course sometimes even the long term interests mentioned oppose each other…. Bottom line, we’re all in it together, and there ain’t no-stopping this elevator going down /handbasket to hell / etc…

    Have a nice day…… :-)

  9. Thumbnail says:

    @eric: huh? Many good, solid businesses plan for the long term, and economic sustainability is part of sound business planning. It almost sounds like you are on the side of the Green tyrants who want to strip property rights from citizens in the name of Gaia, who wish to terrorise citizens with endless legislation and power hungry beaurocrats, who wish to support expensive and hopeless “Green” schemes, who wish to deny developing countries cheap energy and who wish to strip away democratic rights such as the presumption of innocense. I do hope I am wrong. Love this blog.

  10. Randal says:

    Good information and good blog. Thanks Mitch.

    As Gerald Celente repeats, the world is heading towards Global Fascism–the merger of power by governments and the mega-corporations. This is the “New World Order.” In my opinion, you have to understand the United Nations Agenda 21 to see how this is unfolding, not only globally, but in your own hometown. As Alan alluded to above, the NGO’s are part of the mechanism.

  11. David A says:

    Mr Feierstein we share the same political and financial views as you. soviet Communism, Western Capitalsim both socially morally and financially bankrupt. One has fallen the other following. My prediction from 1982. …..

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