Overclass Decrepitude

Bill Gates and Warren Buffett recently made a joint appearance at Columbia University. The two monopolists were embraced rather than pilloried:

Sitting facing each other in an auditorium filled with nearly 1,000 cheering people at a CNBC-sponsored event at Columbia University in New York, the CEO of Berkshire Hathaway Inc. and Microsoft founder Bill Gates fielded questions from Columbia Business School students on the recession, investing and what’s the next Microsoft.

And you know how late-imperial ruling classes get decrepit, and become unable to acknowledge, let alone redress, their objective problems? Here are your top two “free market” geniuses’ remarks on where they see us standing in history:

Buffett: “The financial panic is behind us…. I did not worry about the overall survival of our economy.”

Gates: “We proved that we can make mistakes. But the fundamentals of the system, a marketplace-driven system where we invest in education and a great infrastructure for the long-term, that’s continued…. Capitalism is great.”

See? This has been merely a “financial panic,” not a huge recession, not a normal and predictable result of the radical mal-distribution of wealth under corporate capitalism, not the onset of Great Depression III, not a harbinger of Peak Everything, not a wake-up call in a make-it-or-break-it century.

Yes, mistakes were made, even though nobody expects a capitalist ever to make one, do they?

Take it from Bill and Warren: The future looks bright for this great system of ever-expanding resource consumption and behavioral manipulation!

Michael Dawson is author of The Consumer Trap: Big Business Marketing in American Life (2004). He is the publisher of the blog The Consumer Trap, which aims to expose capitalism, marketing and market totalitarianism. Read other articles by Michael, or visit Michael's website.

4 comments on this article so far ...

Comments RSS feed

  1. bozh said on November 21st, 2009 at 10:10am #

    One cld say that the system in US is OK. But for how many people? For gates, bush, clinton, obama and another 50mn americans US system had been great and wld continue to keep looking after some americans. tnx

  2. Don Hawkins said on November 21st, 2009 at 5:31pm #

    “The financial panic is behind us…. I did not worry about the overall survival of our economy.” Michael this was a 1 in 1000 year event and Capitalism is great just think what giant leaps we can make in just the next say thirty years with capitalism boring it will not be. I guess we could make things as simple as possible but not simpler but that’s to simple.

  3. Al said on November 21st, 2009 at 11:00pm #

    USA economy has been totally screwed by Wall Street & the zionazi reptiles. The question is not IF the economy is going to collapse, but WHEN. & the sooner the better, because the later is collapses, the worse it’s going to be.
    Serves the inbred, mentally challenged, redneck, bible thumping, zionazi asslicking shitforbrains scumbags right for electing & RE-ELECTING that mentally retarded asshole BUSH!
    You cocksuckers deserve the government you voted for!

  4. Michael Dawson said on November 22nd, 2009 at 4:02pm #

    Al, we’re being screwed by capitalism, as are all Earthlings.