Speculum: Reflections on life's difficult bits

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    SPECULUM

    Elias Chn

    Reflections on lifes difficult bits

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    FIRSTCHAPTER

    We all knowwhat a

    speculum is,

    right?

    Er, no

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    WHAT IS IT to be alive in the

    present moment? Our world

    seems to be dazzled by form

    and heedless of content; experiences once

    lived directly are now lived by proxythrough television, films, magazines,

    computer games

    We are, for example,

    invited to intrude on

    others private grief as

    the media stick their

    microphones and

    cameras into the faces

    of those newly

    bereaved or subject of

    some horrendous

    accident, as if this,

    somehow, fulfils our

    quota of feelings for

    the moment. And thatis the news. Later we

    are bidden to witness

    the agonies of

    overweight teens,

    overweight adults,

    people horribly

    disfigured by

    cosmetic surgery that went awry, and so

    on, as entertainment. This, apparently,

    assuages our guilt, reinforces our

    smugness, and allows us to draw moral

    lessons from the palpable idiocy, not to say

    culpability, of others, as we let our own

    grief and agony fade into the background

    as noise, something we can, and should,suppress, for the greater good of a society

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    that requires acquiescence and, preferably,

    indifference to the everyday monstrosities

    that exist in our own lives. Society? In

    reality nothing more nor less than an

    artificially created reality foisted upon

    civilisation by a triumphalist and out of

    control capitalism supported by ever moreirrelevant national governments who

    increasingly lack the the power the stop it,

    and in any case lack the will to do so. It is

    panem et circenses, bread and circuses,

    designed to keep everyone quiescent and

    therefore safe. We are therefore inveigled

    into putting our anger, our pain and our

    distress into places where they will do no

    harm, where they will pose no threat to a

    status quo that can only survive in the face

    of a widespread alienation from what is

    happening to us every day. Indeed, are we

    capable any more of feeling our own grief?

    Our consolation for this major sacrifice of a

    lived life is sublimation in the world of thecommodity, things replacing feeling and

    experience, gadgets replacing curiosity

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    with momentary novelty, and various

    kinds of narcotics, from booze, to dope, to

    the telly, to the manufactured lives of all

    those Z-list celebrities cluttering up the

    world with vacuity but softening theexperience of the agony of existence in a

    world without meaning, a world in which

    any meaning there was (and there was

    precious little of it in the first place) has

    been stripped away and replaced with a

    consumer identity. Want to feel sad? Go to

    a weepy movie. Want to feel heroic? Go to

    an action movie. Want to feel angry? Go

    and see a socially meaningful movie, or

    better yet an anodyne documentary

    carefully constructed so we cant identify

    the real villains. We can feel anything we

    want to, vicariously, so long as we pay for

    it, and so long as it doesnt leak out onto

    the streets, where it will quickly belabelled as a problem.

    THESE DAYS we are no longer what

    we are (whatever that may mean),

    nor are we any longer what we do

    or what we believe. We are, irrevocably,

    what we own.

    Admittedlythis is not

    much of an

    original

    insight; many

    have seen it

    coming, or have noted its establishment in

    the social psyche. But it marks a massiveshift in what we understand to be the

    nature of what it is to be human. Those

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    who own, those who are capable of

    owning, and those who seek to own, are

    the currently manufactured heroes of the

    market. Conversely, those who do not

    own, or are incapable of owning, arescroungers and parasites. Worst of all,

    those who do not wish to own, or who are

    actively seeking identities beyond

    commodity relations, are the most

    dangerous enemies of all, undermining

    civilisation as global capitalism wishes it

    to be understood. Authenticity, however

    defined, and the seeking of meaning

    beyond the ownership of stuff, especially

    transitory tat with built-in obsolescence,

    are to be shunned, execrated and vilified,

    or lampooned as unrealistically idiotic,

    because that way lies no profit. Unless,

    that is, capitalism can find a way to render

    them safe and profitable, in which casethey will be co-opted. Consider, for

    example, the liberating effects of buying

    new tatty furniture with a Scandinavian

    design ethic. Or the liberation of driving

    an over-powered car that has an

    impossible top speed for safe driving on

    any conceivable public road and a price

    tag that only the highest paid parasites can

    even hope to meet. This is liberation as

    capitalism wants it; this is liberation as

    lifestyle aspiration. And aspiration is only

    legitimate when it turns a profit. The

    aspiration for world peace, for equality,

    and plenty, and simplicity away from the

    rat race, are hopelessly idealistic,troublesome, and dangerous, unless, of

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    course, one can buy them,

    contrive to make a profit

    from them, or find a safe

    outlet valve for them

    such as a pop concert.

    FOR MANY,

    perhaps most

    people who are

    in work, each day

    comprises a series of

    dispiriting encounters

    with what passes for aproductive or legitimate

    occupation. But producing

    what, exactly? And how

    legitimate? The answer to the first

    seems simply to be producing whatever

    will make money, regardless of whether it

    is necessary or even desirable. This seemsalso to be the criterion for the second,

    legitimacy, although the state, which

    presides over spectacular society, is very

    careful to exclude certain activities from the

    class of legitimate occupation, such as drugs

    peddling and organised crime. These

    activities are solely the province ofthe state

    (and its chums in business) which doesntwant any uppity freelance entrepreneurs

    muscling in on its territory, unless they pay

    the right people for the privilege. What is,

    after all, a legal license to sell, say, drugs,

    except a form of protection money paid to

    the state, which then legitimises any

    outrages perpetrated on the powerlesspublic, i.e. those who dont have a pass card

    to the sanctums of the oligarchy?

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    Nevertheless, those with lots of money are

    still treated with respect irrespective of how

    that money was made in the first place. A

    self identified Mafia Don, for example, is

    unlikely to be turned away from even theposhest of places just because he made his

    money by dodgy methods. Nor

    will he be turned

    away from the

    m o s t

    respectable of

    cabals within

    the government

    or big

    business, just

    so long as he

    is discreet about it and doesnt bring

    too much embarrassing publicity with him.

    It just might be related to the extensive range

    of extreme responses he might have at hisdisposal for retaliation if upset, but this is

    true of all wealthy people, whether or not

    they have a penchant for the direct methods

    of the concrete welly or the more indirect,

    and therefore more sinister methods of

    litigation. As to organised crime, that really

    depends on how the crime is committed and

    whether it gets noticed. For example the

    crimes of Enron were only regarded as such

    once they were found out and couldnt be

    hushed up any more. Similarly with the

    banks and bankers who precipitated the

    worldwide financial crisis that the poor

    people of the world are now

    expected to pay for. The plain fact isthat their crime was getting caught out. Had

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    they not been

    rumbled, had

    Bernie Madoff not

    made off with

    everyones money,had Lehmann

    Brothers managed

    to keep their greedy

    secrets secret a

    while longer, had

    RBS been more

    careful with its

    avarice, had

    Goldbrick Sucks not

    been caught out with

    their all too

    clever schemes

    for defrauding

    the public, and

    had all thebarrow boys

    working in the

    City kept their

    gobs shut, then

    their crimes

    would have

    passed unnoticed,

    suspected but

    unnoticed. As it is

    the cats out of the

    bag and everyone

    knows about it. All

    this was presaged

    by Nick Leeson,

    r e m e m b e rhim? He

    For

    the

    record

    ,fl

    yzipsop

    en

    an

    dclo

    se

    ,

    jus

    tincaseyouwe

    rewon

    dering

    fnordwas the creative

    entrepreneur who

    destroyed Barings Bank.

    At the time he was

    regarded, or at leastbilled as an aberration,

    someone who was

    simply out of control,

    and not at all like the

    more respectable bankers

    elsewhere. But it turns

    out he was in reality a

    herald of what was to

    come, a kind of John the

    Baptist figure announcing

    the good news that

    we were all going to

    get royally screwed

    by all those

    respectable bankers,in fact that we

    already were being

    royally screwed but

    hadnt noticed yet.

    What the bankers did

    to us, and are still

    doing, is by any

    decent moral code,

    criminal, in terms of

    natural justice if not in

    terms of the current

    body of laws that are

    meant to protect us all

    (so we are told) but

    which in point offact do a much

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    better job of protecting the very rich, often the s a m e

    p e o p l e who are happily ripping us all off and from

    whom we need protection in the first place. C ur io us l y ,

    h ow ev er , the great crimes perpetrated by the financial

    s e r v i c e s sector have been scurrilously rebranded asnot - cr i mes . We have been told that the great majority of

    bankers are really awfully nice chaps and chappesses

    (mainly chaps) who are terribly sorry for what

    happened, and that it was all the fault of a few bad eggs

    rather than being endemic to the whole of the modern

    banking system, indeed an essential aspect of

    what modern banking is, which is to say corrupt

    and avaricious. But the public had to be

    appeased, which is to say, lulled back into a

    stupefied torpor, so sacrificial goats had to be

    found. And, joy of joys, they were. Now we the public are

    being told by the powers that be that the demand for

    justice (revenge?) has been satisfied and that

    therefore we should all shut up and let

    bygones be bygones. Somehowthey believe (or pretend to believe)

    that by sacrificing ole Bernie to the

    judicial system, and forcing Fred

    Goodwin (Fred the Shred to his mates,

    but Freddie the Shreddie sounds

    better) to take a cut in pension, justice and

    fairness have been restored and we should

    all be satisfied with that. Bob Diamond, big

    cheese at Barclays, meanwhile avers that

    the banks have done enough grovelling and

    that everyone should leave them alone. It

    almost sounds plaintive when put that

    way, but really the banks have done

    nowhere near enough grovelling for the

    damage they have caused. One sacrificialgoat, a few tut tuttings around the

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    wine bars and a rich bastard being

    forced to relinquish a piddling

    amount from an obscenely large

    pension pot is not nearly enough to

    cut it, especially when it is now clear

    just how much pain is going to be

    suffered by the not-great (that is, notfilthy rich) to sort out the mess. As

    a footnote to this, the

    aforementioned Mr. Diamond was

    recently awarded a bonus of 6.5m

    (March 2011), which together with

    his 2.5m salary and other perks

    means he was given over 20m for

    his work in 2010, and this just as

    the rest of the UK population was

    beginning to wonder whether luxuries such as

    food might still be worth spending their money

    on. Compare that 20m with the mere 4m that

    Worcester County Council just announced it

    had available to spend on community

    projects. No wonder old Diamond Knickerswants everyone to avert their angry gaze

    parasite par st, n. a hanger-on

    or sycophant who frequents

    anothers table: one who lives

    at the expense of society or of

    others and contributes nothing:

    an organism that lives in or on

    another organism and derives

    subsistence from it without

    rendering it any service in

    return:

    Chambers English Dictionary

    Its all a matter of energy

    exchange really. When anorganism simply takes energy

    away from another without any

    reciprocity, then that organism

    is a parasite. The modern

    entrepreneur likes to think of

    himself or herself as a predator,

    because that is a noble image.

    But predators at least have thegood manners to ensure that

    some of the prey species is alive

    for the future, whereas

    parasites have no such noble

    intentions. Short sighted? Yes,

    but thats the parasite mentality

    for you.

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    away from the banks. One wonders

    what he did to deserve such

    largesse, especially since Barclays

    shares are worth only about one

    third of what they should be, andare roughly at only half their

    value of a year ago. Not that its

    easy to sympathise with

    Barclays shareholders, but if

    this is a criterion of success then

    one wonders what failure

    looks like.

    It beggars belief just how

    arrogant these people

    really are. Not content

    with fleecing people of their

    money whenever possible,

    they crawl cap-in-hand to

    their mates in government tobale them out when things get a bit sticky,

    using, it must be said, money extracted without any choice from all the

    citizens who actually have to pay all their taxes because they cant afford

    clever creative accountants to help them avoid or evade tax liabilities, unlike

    the banks who prefer to fiddle their tax liabilities whenever possible. They

    then pretend that everything is hunky dory at their end and award

    themselves huge bonuses again as if nothing were awry. Even RBS, which

    on the latest estimation is technically still in debt to the country to the tune ofgrillions of quid, has just announced bonuses for its top people! And they

    still want us to like them and trust them!

    Handsomelookingdevil,inee?Butonlyifyouliketheaestheticsofthecorpse.

    The modern banking system manufactures money out of nothing. The process is perhaps the

    most astounding piece of sleight of hand that was ever invented. Banking was

    conceived in inequity and born in sin But if you want to continue to be the

    slaves of the bankers and pay the cost of your own slavery, then let the bankerscontinue to create money and control credit.

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    ALL OF THIS could have been simply ironic, but it is alas entirelyinevitable that institutions who do everything in their power toavoid paying their fair whack into the exchequer, that is to say,avoid making a fair contribution to the commonweal at large, and indeed

    seem to avoid making any genuinely positive contributions to society atall (as opposed to the private bits of society inhabited by the megarich),

    then beg for assistance from that same exchequer when they find

    themselves short of brass. The narrative is very simple. To the banks

    everyones money is theirs by right, and they will get it by hook or by crook. To

    add insult to injury they then hike all their fees to their customers as well,

    as if its all our fault that the mess happened in the first place. Sadly, the

    truth is that it probably is our fault, because we always let them get away

    with it. Of course they have armies of rich lawyers and accountants on

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    their side to help them stave off any attempt to make them play fair, plus

    all their chums in high political office, but they have been ripping us off

    for so long now that most of us have become convinced, in a lazy

    complacent unreflective way, that this is normal. But it isnt. This is

    capitalism showing itself for what it really is: misanthropic; anti-social;dangerous; amoral; parasitical and self regarding. The rest of us? Just

    fodder for the bottom line, and nothing more. And this is just the start. It is

    going to get much, much worse as globalisation takes hold, because

    globalisation is nothing less than letting capital off the leash of what few

    restraints remain to hold back its avarice thus leaving it free to roam the

    planet looking for plunder wherever and whenever it pleases.

    Globalisation will render capitalism completely untrammelled by the ties

    of community, country or territory, or even nature itself. This is the best of

    all possible worlds for the capitalist mentality: capitalism as a metanational

    phenomenon, rather than a merely multinational one. In such a scenario

    people will no longer matter in the

    slightest except in their capacity to be

    exploited. At the time of writing this,

    HSBC has just issued a bare threat to

    the UK: stop trying to tax us or we willrelocate to somewhere else which is

    nothing if not a scurrilous

    invitation to allow capitalists, in

    this case bankers, to do whatever they

    please, outside the common law,

    outside general morality, and certainly

    beyond ordinary human decency. More

    companies will undoubtedly follow

    because at the moment no-one can stop

    them, and they know it. Government

    is becoming increasingly irrelevant

    to the process as it becomes plain

    that large metanational

    corporations can (and invariably

    do) hold whole countries toransom if they dont get their way.

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    The overriding (false) metaphysic is that of competitive edge in their

    wholly made-up sacralised market in which everything is monetised

    and simple (social) values are either derided or trodden underfoot.

    MEANWHILE BACK in the world of real bona fide people, as

    opposed to life sapping parasites, life seems increasingly to be

    more a matter of smoke and mirrors than actual living. Or

    perhaps a better characterisation might be through the looking glass

    because nothing is as it seems; image and appearance are everything,

    substance nothing. Public life seems more than ever to be devoid of

    integrity, and appears to be based on no discernible values except a crude

    pragmatism that has abandoned all pretence of morality and ethics. This

    presents no real surprise, however, since capitalism is essentially amoral,although often straying into the outright immoral. Life for most people

    has no honour to it, not even as a struggle against the elements, each day

    sapping vitality rather than replenishing it. Work, for the bulk of the

    population, remains little more than drudgery, with little of joy to it, and

    that despite the great promises of technological

    advancement. Nothing, it

    seems, has any genuineintrinsic value any more

    except in terms of its market

    value, not even people

    themselves. In the world of

    the image, only the image

    matters; substance, reality are

    mere chimera of a past world,

    or of a world that never was.Like the prestidigitators that

    they are, which is to sayfaux

    magicians, the curators of the

    image can slip and change

    reality to their whims,

    leaving nothing with even

    momentary solidity.Everything is in flux, but at

    the deliberate behest of those

    Itisneithersafenorsensibletocarryawireg

    arrotteinyourbra

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    who control the magic lantern show that we all

    now inhabit.

    THERE ARE, of course, several venerable

    philosophical traditions asserting that

    everything is, quite naturally, in flux. The

    Taoists, for example, and Heraclitus of Ephesus,

    he of the river into which no-one steps twice,

    spring immediately to mind. Their original

    insight became in time a truism, because most

    people find it relatively easy to assent to a

    proposition such as even the mountainschange. But the whole idea has been hijacked by

    the spectacle for its own advantage. It is yet

    another appropriation made by the forces of

    avarice. What was a relatively benign

    observation on the state of nature has been

    turned into an attack on people, especially those

    who need to work to keep themselves housedand fed. In its current interpretation it is held to

    mean, for example, that the idea of a job for life,

    or a professional specialism, or the idea of

    personal pride in ones work, have now become

    moribund on account of natural changes in the

    world of work, not that most jobs were ever

    worth much in the first place except as a means

    of buying food to keep barely alive. It is alsoused as an excuse for a constant changing of

    order, leaving nothing to stabilise, even

    momentarily, because stability has become

    inconvenient to the spectacle, much as tradition

    has. The deliberate and regular destabilisation of

    life is intended to keep people in a state of

    permanent uncertainty, always off balance, andtherefore permanently frightened and on the

    defensive. This is a preemptive strike against the

    BL

    AN

    K

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    Verwirrung

    Season of Chaos1st January - 14th March

    Thesis (Tricylce)

    Yin

    The point from which all societies

    begin and to which they return. The

    natural state of humanity. Eris, Isis,

    Ishtar, Kuan Yin, Kali.

    Zweitracht

    Season of Discord15th March - 26th May

    Antithesis (Tricycle)

    YangAppearance of a ruling class. Leads

    directly to discord.

    Osiris, Yehovah, Zeus, Odin and all

    other male deities. The all-seeing

    eye.

    Unordnung

    Season of Confusion27th May - 7th August

    Synthesis (Tricycle)Attempt to restore balance by

    unnatural means, leading to

    confusion. Loki, the Devil, Mercury,

    Thoth, Raven, Coyote. Annihilation

    of the biogram by the logogram.

    Beamtenherrschaft

    Season of Bureaucracy8th August - 19th October

    Parenthesis (Bicycle)

    The void. Deterioration. Great souls

    held in restraint by inferior people.

    Grummet

    Season of Aftermath20th October - 31st December

    Paralysis (Bicycle)

    Transition back to chaos.

    Bureaucracy chokes on its ownpaperwork and lack of integrity.

    Many begin to deny the logoram

    and embrace the biogram.

    Hermaphrodite, union of male and

    female.

    possibility of opposition, preventing any

    serious organisation of a counter movement

    by forcing people into an isolated

    individualism that undermines any vestiges of

    solidarity, or even simple sympathy for others

    struggling to keep some semblance of order in

    a deliberately created chaos of everyday life.

    This is a deliberately created image, however,

    based on a wilfully false reading of Darwinian

    Evolution and riding roughshod over all the

    evidence, social, historical, anthropological

    and biological, that human beings are social

    animals who require sociality or conviviality,

    as Illich puts it, in order to survive. Thespectacle has replaced sociality with a war of

    each against all which will eventually see the

    demise of humanity, perhaps even the planet,

    if it is not challenged, and soon.

    THE ATTACK on the basic social nature

    of people all stems from the work of

    various arch sorcerers of the spectacle,

    mainly economists and their fellow travellers,

    who claim that keeping people in a state of

    uncertainty motivates them to work harder

    (for capital, not necessarily for their own

    wellbeing). That this is a self serving myth

    based on no genuine idea of what actually

    motivates real people is besides the point, forthem. They invoke the spirit of the fictitious

    rational actor from the dark realms of

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    sucking out of human

    dignity, worth and enthusiasm for life.They make life miserable and therefore not

    worth living.

    IRONICALLY serial

    killers, by virtue of the

    fact that they actually kill

    people as their adopted modus

    operandi, are more honest abouttheir misanthropy than

    serial reorganisers (albeit

    with an understandable

    desire to be relatively discreet about it). In

    general they make little pretence of doing

    good, except, perhaps, when they are

    commanded by the inner voices to clean the worldup a bit. Serial reorganisers, in

    contrast, trumpet their

    activities as a moral good,

    presenting themselves as the doers

    of good works for the future

    welfare of all, whilst never

    failing to fall back on the vast

    array of traditionally indirecttools of democratic tyranny

    and injustice when

    challenged. This is the

    standard ploy of the

    cowardly when faced

    with their own perfidy. Whilst

    claiming to be on the side ofprogress, when they are

    thwarted or opposed, their

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    invariable standard response is to

    make immediate recourse to thecriminal law, or the threat of it, to force

    through their decisions. Negotiation,

    the approach favoured by civilised

    well adjusted people, is seldom

    considered, no matter how well

    reasoned any opposition might be,

    unless it is on the terms set by thespectacle itself, those which guarantee

    success for power from the outset.

    There is no authenticity or integrity in

    any of this; the truth is that such

    people serve only the progress of

    capitals ability to exploit more

    efficiently and effectively (a favourite

    phrase of this species and its allies).

    They are nothing more than bullies

    using a very old ploy to camouflage

    Thought you were one of the farmers, eh?

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    their misanthropy, that of claiming

    that what they are about is

    perfectly legal, whilst brushing

    questions of the morality of their

    behaviour under any convenientfloor covering. They make

    extensive use of the law and of

    contracts which are supposed to be

    sacrosanct, until, that is, their

    masters find them inconvenient;

    they make expansive promises,

    which are ignored just as soon as

    they get in the way; they fall back

    cynically on the rhetoric of a

    future in which all will be well

    for everyone, whilst caring nothing

    about the people they destroy, the

    values they destroy, the cultures

    they destroy, and the communities

    they destroy. Capitalism has formfor this kind of behaviour. If you

    want a stark historical precedent

    have a look at the treatment of the

    North American Native Indians

    who, in the nineteenth century,

    finally found their way of life, land

    and their dignity stolen from them

    in just this sort of way. And it

    continues even now.

    The crowning cynicism of the

    serial reorganiser is,

    however, that such

    creatures dont even seem to care

    very much about what they aredoing; it is merely a job not a

    vocation. From experience they

    It is good to study history, if only to

    appreciate how Power does not change

    its spots, nor indeed its tactics very

    much. Time and progress may bring

    forth slight variations, but essentially

    the way Power deals with the powerless

    remains pretty much the same as it

    always has. Lies, trickery and deceit are

    the main weapons, supplemented by a

    monopoly on the framing and

    enforcement of the laws that are

    supposed to work for the protection of

    the commonweal, but only ever work

    for the protection of property and the

    welfare of the rich. Tricksy lawyers have

    always been culpable in the process, ashave avaricious bankers.

    Dee Brown (1970)Bury My Heart

    at Wounded Knee. London: Vintage.

    ISBN: 0-09-952640-9

    Ifthisbo

    okdoesntmakeyouangry,

    nothingwill

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    seem not to care if the outcome of their actions is positive or negative, just

    so long as they win the plaudits and monetary rewards for being good pet

    hounds for their masters, slavering at their feet awaiting scraps of bounty

    from the masters table. It is a vast exercise in inauthenticity. Alas they areto be found everywhere, spreading their moral vacuity through the whole

    fabric of culture and life itself. Its as if there is some mysterious spawning

    ground in which they procreate well away from the anxious gaze of real

    people. Their modus operandi is to

    destabilise absolutely everything, and

    then get out of the way before the

    waste matter has an interface scenariowith the rotating air

    displacement

    apparatus, thus to

    escape the

    repercussions

    of their

    behaviour.

    They are

    amongst the

    current street

    fighters of the spectacle, the

    heroes of the capitalist fantasy, but,

    like all street fighters, once they

    have reached the end of their

    usefulness (and thus becomeinconvenient), they will be sacrificed,

    just like their own

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    victims, by those who currently

    employ and applaud them. Perhaps

    they should study some history and

    look closely at what happens to

    thugs who lose their usefulness topower by reading what happened,

    for example, to Ernst Roehm and

    the Sturm Abteilung, or to the old

    revolutionaries who got in the way

    of Stalin.

    At the time of writing this (8th July 2012) BobDiamond has resigned from his position as CEO ofBarclays following a scandal in which Barclays was

    implicated in fixing the LIBOR rate for personalprofit. What a shock. Apologists for capitalism havebeen heard on the radio (Radio 4 to be precise)declaiming This is not capitalism! One is forced to

    ask, If not, then what is? The fact is that fixing theFree Market for personal gain is perfectlyconsistent with free market economics which, inessence, is about grabbing what you can and fuckthose who cant keep up. The current hand wringingabout loss of morality also misses the point;

    capitalism is, as noted before, essentially amoral,perfectly happy to manipulate democracy andfascism equally, indeed it will thrive in almost any

    kind of socio-political environment so long as the profits are available, and so long as people are open totemptation. But there is no point in being angry about this, least of all angry at Bob Diamond. This situation

    was inevitable once Margaret Thatcher and Ronald Raygun endorsed personal greed as a good thing. As itis, Bob Diamond is little more than another scapegoat, along with Fred the Shred, for the perfidy of an entire

    system, besides which he will hardly be left destitute. No doubt all the honest people stillin the higher levels of banking will be hoping that now Mr. D has gone they will beleft alone to carry on feathering their nests with other peoples money.