This is a very short blog triggered by the sight of billionaire moguls playing the fools for the media and their new political idol. It is also prompted by the reading of a Trevor Jackson piece, The ungovernable economy in the NYRB. Summarily said, it boggles the mind that the mobility of capital across borders has not only become extraordinary but tends to be more and more politically unregulated. Labor, meanwhile, has been divided politically. All too often, it has been confused by …. billionaires and has turned migrant workers into an enemy expected to respect national borders. It accepts to be provided with divisive rhetoric while its pockets are being picked. It has become the focal point of a new and ugly class war.

The owners and largest investors in various technologies—particularly in data processing—float over us and instantly move billions of dollars or bitcoins from one bank to another. That ethereal movement of money and values allows the new nexus of power to flee any notion of having some semblance of obligations. Its leaders recognize obligations only to themselves and their largest investors. Social equality, democratic rules of law, global warming, etc,.., have been dropped from a widely shared tradition that was kept alive, say, until the nineteen eighties.