[The] new global elite, according to Chrystia Freeland (Global Editor at Large, Reuters, who traveled with, and mingles with, the elites), The Rise of the New Global Elite, Atlantic Magazine, Jan./Feb. 2011: “Perhaps most noteworthy, they are becoming a transglobal community of peers who have more in common with one another than with their countrymen back home. Whether they maintain primary residences in New York or Hong Kong, Moscow or Mumbai, today’s super-rich are increasingly a nation unto themselves.”
This federation of convenience by the global elite is a lingering problem for the lower classes in America. The U.S.-based CEO of one of the world’s largest hedge funds told Chrystia Freeland that his firm’s investment committee often discusses the question of who wins and who loses in today’s economy. In a recent internal debate, he said, one of his senior colleagues argued that the hollowing-out of the American middle class didn’t really matter. “His point was that if the transformation of the world economy lifts four people in China and India out of poverty and into the middle class, and meanwhile means one American drops out of the middle class, that’s not such a bad trade.” Notice the CEO’s reference to “not such a bad trade” as representative of free market lingo, i.e., “trade.” Everything is measured in trade terms, like statistics… if you look in the mirror, you’ll see the reflection of a commodity.
This viewpoint is typical of how the global ruling class thinks, and proof positive of it is reflected in today’s politics in America. The right wing embodies this same viewpoint by striving to strip the federal government of public welfare services, privatizing governmental assets, and undercutting benefits to society at large, especially via manipulation of the federal tax code. This same occurrence is happening in real time right now in Greece, Spain, and Portugal as the cadre of elite technocrats out of Brussels, de facto capital of the EU, dictate nation-state policies to those three forlorn countries. The world’s elites love hard times/recessions because of the set up. It makes it easier for them to strip away government largess via austerity programs that they force upon governments, and it allows for undercutting the wages of average citizens as well as dismantling of governmental regulations. This, in turn, prompts protestors to congregate in the streets of capital cities, but over time, the capitalist class waits them out, temporarily residing in one of their homes elsewhere, away from danger, and with time on their side, the capitalists win. [++]