The wealthy elites "smash and grab," too

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I know we're all supposed to dutifully wind down our attention to the Steve Jobs resignation and join around the national hearth to watch Hurricane Irene lash East Coast homosexuals and liberals with the beastly righteousness only nature can dispense. Also that our Federal Reserve chairman thinks our economy will continue to grow over time even though he sees some "clouds on the horizon" because unemployment is still over 9%.

But the fallout from global austerity economics has not abated just because the Brits have swept up the broken glass from their mid-month wave of rioting. In a comment from an August 13 post, Marginalia of London noted that the looting was a political act despite the fact that the rioters may not have realized it. I agree.

Everybody knows that rioting, looting, and arson are heinous acts that punish the innocent much more than any legitimate object of political opprobrium. Pundits on both sides of the Atlantic responded with scolding in high dudgeon: shame on the nihilistic children; shame on their useless parents; the problem is that nobody knows how good they really have it any more; et cetera.

But most of us are still waiting for celebrity pundits to tut-tut the misbehavior of the elite global financiers who have been "looting with the lights on" for a decade or more:

[England's] riots are not political, or so we keep hearing. They are just about lawless kids taking advantage of a situation to take what isn't theirs. And British society, Cameron tells us, abhors that kind of behaviour.

This is said in all seriousness. As if the massive bank bailouts never happened, followed by the defiant record bonuses. Followed by the emergency G8 and G20 meetings, when the leaders decided, collectively, not to do anything to punish the bankers for any of this, nor to do anything serious to prevent a similar crisis from happening again. Instead they would all go home to their respective countries and force sacrifices on the most vulnerable.

Click through to read the entire Guardian piece by Naomi Klein---it's a pippin. I copped the link from Anne Laurie on Balloon Juice, who also notes that PM David Cameron and London Mayor Boris Johnson were both members of the obscenely wealthy and destructive Bullingdon Club during college years.

Klein's most interesting point, in my opinion, is another one of those truths that are hidden right in front of our noses: that Western media are quick to laud the high political ideals of rioters, looters, and insurrectionists in Bad Countries like Iraq, for example, because

this is what happens when a regime has no legitimacy in the eyes of the people. After watching for so long as Saddam Hussein and his sons helped themselves to whatever and whomever they wanted, many regular Iraqis felt they had earned the right to take a few things for themselves.

As the article says, though, London isn't Baghdad. Maybe not (fewer minarets, for one thing), but maybe turning London into Baghdad is part of Premier Cameron's and Chairman Murdoch's 10-year Great-Leap-Ahead Plan. It's almost as if Western nations are deliberately avoiding the tested, straightforward solutions to depression economics (i.e., stimulus and employment programs) in order to do some social engineering through the magic of Disaster Capitalism. If corporatists love anything more than tax cuts for themselves, it's political crackdowns.