Re: <nettime> what exactly is breaking?

["Kurtz, Steven" <sjkurtz@buffalo.edu>]

Brian, I have long admired your optimism and fighting spirit, but I just find it difficult to think that structural change is coming soon. Regarding the George Floyd case, we haven't even been able to get the accessories to murder charged and the murderer is miles from conviction. Given the autopsy discrepancies, I think we can assume the police shenanigans have already begun. But putting the the institutional racism of the US legal system aside (which won't change in our life time), and turning to the question of electoral politics, I do agree with you that we need to build a voting bloc that will put Trump out of office. And I believe this can happen. The alliance is being formed, and we have a good shot at getting Trump out. I share your optimism here. However, I have to point out that Biden is literally and explicitly running on a no structural change platform. (Sanders was the change candidate, and he's done.) The democratic congress supports Biden's reform approach. Trump is wo
 rse, but the Dems are not much better on climate change--they like to give it lip service and put band-aids where they can, but that is about it. They have already given massive corporate welfare to the extraction industries (they are not trying to eliminate them, nor are they proposing funding for sustainable energy). They agree with Biden that answer to the healthcare crisis is to tweak Obamacare. I could go on, but for brevity's sake will not.


But here is what really gets me: The US is in the middle of a great depression and yet the stock market is fine and healthy. The Dow is up at 25,745 as I write this. Not record territory, but close. I think there are two reasons for this. The first is all the tax payer funded corporate bailout money coming their way which allows them to keep all the stock buy backs in place, thus raising dividends and/or share price. Or conversely, protecting them from having to reissue buy back shares to stay afloat while waiting out the pandemic. This kind of bail out makes corporate exchange a risk free affair. The second is they see all the independent businesses failing. This is going to open some new market share. We know what that means for the Davos crowd--Growth is still possible! You and I have discussed at length what will happen if the one percent still sees the possibility for growth. I fear that neoliberalism is going to be around for a while longer, and the Biden administration and dem
 ocratic congress will fully support it. It is possible that the glowing future of corporate hegemony that the stock market currently reflects may be a pipe dream, and I hope that is true. If so, maybe there is a chance something new could emerge.





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