Minority Report: The Onset Of Plutocracy

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa

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Advance estimate of Second Quarter (Q2) US Gross Domestic Product (GDP) by the Bureau of Economic Analysis (BEA) shows a deceleration in real growth rate to 1.5% from 1.9% in Q1. The slowdown has been forecast by Transformations in our earlier article “Outlook: US Economy” dated July 15, 2012 and has been expected to be so since.

Continuing resolutions to keep the government open in the past 2 federal budget cycles are incurring tax expenditures to keep consumption afloat, and promote startups and small businesses while large businesses have plateaued off investment.

The anti-corruption STOCK Act and the bi-partisan JOBS Act with several reactive but necessary provisions to get money into the hands of jobs creators, such as my firm and others, have been passed into law on April 04 and 05, 2012.

A key factor would be Federal Reserve funds finding their way into crowd sourcing efforts and into a broad array of startups and other businesses to create jobs. By some credible reports, there are $32 trillion (or about one-half the size global economy) – literally under mattresses offshore, unused, for all classes of investors, Angel, Venture and for regular underwriting – to be invested.

Most world governments are in debt, relative risk of higher long rates is low among democracies except perhaps because of China in the form of a shock to the West should China decide to expand its global presence, and income gap is splitting societies into a top 10-bottom 90 split economic structure where most people earn enough only to get by and the few remain wealthy, the objective being status quo levels of consumption around the world, in situ without migration of peoples between national borders and cultures as the easiest way of achieving global sustainability. There is a serious risk of plutocratic takeover of both the global governments and the global economy by 2016, including in China, if this trend persists.

There are ways to get around these emerged economic and the consequential social inequities if governments are not complicit in this heist where the wealthy only have a limited incentive to invest no matter the level of the federal funds rate. At this point neither government incentives to the wealthy nor does moral suasion matters. What matters is interventionism under law to increase domestic real investment by dispersing the offshore funds where they are needed most.

Federal Reserve must begin to tighten monetary policy by April 01, 2013 because there is no reason why a sizable chunk of the $32 trillion offshore cannot be circulated for the purposes of structural change, globally, rather than permitting the investor classes to take post-modern feudalist shortcuts to maintaining global political and economic stability, besides of course, also bringing the Pentagon program Anthros under the purview of the anti-corruption STOCK Act until Anthros can be suspended or revamped away from behavioral fingerprinting to protect the privacy and abuse of data on people.

The colored people of the world must integrate the white and European-and-Jewish minorities.

White and European-and-Jewish money is better spent ingratiating and integrating themselves with the coloreds, for after all Brown v. Board of Education had not solved the problem of access of the have-nots to the financial capital of the haves in education and beyond.


About Chandrashekar (Chandra) Tamirisa

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