Apparatchik I...
part one...
As we enter a downturn, we can see - in real time through social media - the sheer incompetence of our - supposed - elite. A class of self-entitled imbeciles, who wouldn’t even cut it as the court's buffoon a mere millennia ago. And yet they lead, and make decisions that will impact our future and that of the earth.
Idiocracy:
The final speech of Supreme Leader Mario Draghi encapsulates the mediocrity that rules us. As he called for absolute powers, it became evident that he had never understood the Italian constitution. Something very reminiscent of Salvini with one major caveat: one was a radio show host, the other was an Ivy League Graduate.
By rewarding those who swear allegiance to the Neo-Liberal Order, our system has erased any possibility of growth (debate). When listening to various apparatchiks in the West, it becomes apparent that they’ve never had to debate their ideas against opposing ones. Stuck in an academic context, they perceive reality as one dimensional; where everything can be accounted for.
From their environmental policies - which don’t take into account that base load can only be made up of coal, gas or nuclear - to their economic strategies - which misjudged the negative effects of globalization - coupled with their inability to say mea culpa, our leadership as effectively isolated itself from the fallout of their incompetence and continues to be rewarded for it.
In a recent interview, US First Deputy Secretary of State Wendy Sherman stated,
“I spent most of my time at Putin’s company in Sochi accompanying then-Secretary of State John Kerry. We talked for about four hours. He was very smart, didn’t use cheat sheets, was fluent and very confident,”
How can America counter China and Russia? | The Economist
In other words she was stunned that someone didn’t need cheat sheets to hold a conversation; this is how low the bar is set to be considered smart by our - western - elite.
Here’s Nancy Pelosi, number 3 in the USA making the point for me…
Meritocracy:
Defined as, “a society governed by people selected according to merit”, a meritocracy should - in theory - reward those of greater competence. Most will conclude that the solution to apply such a system is to develop an education system that will sift through the general population, find the best, and educate them with all resources available. The French model comes to mind with a stellar reputation across the globe, yet I would like to remind all that Hollande came out of HEC Paris and that Macron came out of ENA. It’s evident that education alone cannot be counted on. There is a need to dissociate the academic from the politics, as the academic world deals in theories that have no real application. An example of this would be the General equilibrium theory that, “attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.”
All one needs to do is observe the world around to determine that the theory doesn’t hold up. Markets are dominated by giant corporations who impose whatever price they want. Cases like CD Price Fixing and Airlines Price Fixing demonstrate how oligopolies run markets but even more blatant cases exist that still haven’t and likely will never be prosecuted: Silicon Valley, Military Industrial Complex…etc One can go further and realize that the theory doesn’t include transaction costs (no commissions…etc), but even worse than that is the belief that market participants cannot be influenced in anyway shape or form, as if Marketing didn’t exist. This is why experience always trumps academia. The average blue collar worker at Unilever is vastly more knowledgeable about - real world - economics than an economist.
This isn’t to say that academia doesn’t have its place, but the notion that ministries need to be filled with - academic - technocrats to function at their best is simply not true. Institutions need individuals with real life experience who are able to see what the academics who live and die by the (text)book cannot. Individuals who know from experience that in our world only the short side rule applies; the short side (which side between demand or supply is lowest; scarcity) will be traded, therefore the short side has the power.
Next Step:
In the eyes of our - current - elite, the notion of merit is defined as the allegiance to the Neo-Liberal Order. Hence their fascination with technocratic governments that they believe to be meritocratic in nature. Their obsession with Monti and Draghi highlights this but worse than that is their inherent self racism embodied by their fascination with the German model.
By now it should be clear to all that the German model was nothing special, just a combination of cheap energy from Russia and low wages from the kurzarbeit. It’s why the very first step is to dismantle the self racism that is a self fulfilling prophecy. By describing yourself in a highly pessimistic manner, those around you start believing it and in doing so reinforce your view. Case in point with renewable energies. Case in point with renewable energies. ~70% of Italians believe Italy has not met its renewable energy targets while believing the Germans have. The truth is Italy has met their target but neither the Italians or the Germans seem to be aware of this. Even German speakers struggle to believe how self racists Italians are.
Buy MED.