Category Archives: capitalism

“_Capitalism is the Crisis: Radical Politics in the Age of Austerity_”

One of the most despicable aspects of the McGuinty Liberal government, among many others, was  its  handling of security at the G20 Summit last summer in Toronto. Dalton McGuinty oversaw one of the greatest civil rights abuses in Canadian history. When you start to crack down on dissension you begin to destroy the very thing you are trying to protect:  democracy.

On June 2, 2010, the McGuinty Liberal government secretly passed a  law that temporarily expanded the Public Works Protection Act and granted police powers to stop and detain people during the global summit of world leaders.

This was another fiasco and a total disregard of process that resulted in giving the police a half baked law to do their job.

The G20 secret rule was the subject of a probe by the Ontario Ombudsman Andre Marin. His report was made public and slammed McGuinty for passing the secret regulation and characterized it as “illegal and likely unconstitutional”.

McGuinty had 20 days before the summit to advise the public about the new law but choose not to do so. Just more proof of McGuinty’s incompetence and secret dealings.

Dalton McGuinty will not explain why his cabinet passed this secret law because he does not want to be held accountable by the electorate. He refuses to open an Inquiry and has even refused to apologize for his part in the flagrant suspension of Canadians’ civil liberties.

Below, is an excellent documentary, featuring several Toronto based academics and a part of which deals with last year’s G20 Summit.

Looking at the CRISIS in "the financial crisis", or Alan Greenspan was not only asleep all these years but he never was wearing any clothes

I’ve heard a lot about the “financial” in the “financial crisis”, but little regarding the “crisis” in the financial crisis. Perhaps we should stop and listen to an analyst of a persuasion other than the economic one, even if only briefly. Jacques-Alain Miller is one of the world’s most renowned psychoanalysts.

The financial universe is an architecture made of fictions and its keystone is what Lacan called a “subject supposed to know”, to know why and how. Who plays this part? The concert of authorities, from where sometimes a voice is detached, Alan Greenspan, for example, in his time. The financial players base their behavior on this. The fictional and hyper-reflexive unit holds by the “belief” in the authorities, i.e. through the transference to the subject supposed to know. If this subject falters, there is a crisis, a falling apart of the foundations, which of course involves effects of panic. 

However, the financial subject supposed to know was already quite subdued because of deregulation. And this happened because the financial world believed, in its infatuated delusion, to be able to work things out without the function of the subject supposed to know. Firstly, the real state assets become waste. Secondly, gradually shit permeates everything. Thirdly, there is a gigantic negative transfer vis-à-vis the authorities; the electric shock of the Paulson/Bernanke plan angers the public: the crisis is one of trust; and it will last till the subject supposed to know is reconstructed. This will come in the long term by way of a new set of Bretton Woods accords, a council enjoined to speak the truth about the truth.

On the related matter of the baselessness of liberal economic theory see RPPE.