The bidness press - as if there were such a thing as a non-bidness press not in the bidness-propagandizing bidness - has noticably throttled back the usual background din about privatizing social security. They’re too busy running the sort of stories excerpted by Leo Kolivakis in Pensions’ death spiral, wherein they strike the careful, even-handed balance between the situations of management and labor that’s been the hallmark of such “reportage” since the nascent Gypper years (and marginally if not significantly less so before that). A typical case in point is the NYTimes piece that Leo leads with. With just the title and the first two paragraphs the proper tone is set. We learn that the “plight of the carmakers” - i.e. the plight of management (and the fucking bondholders) who signed the contracts promising pensions to their workers and then “managed” the plans into the ground, except, of course, for their management fees and bonuses for doing such an exemplary job - is forcing them to abandon the pension plans “for competitive reasons”. But wait, there’s more! Not only will the inexorable forces of history and logic force Chryster and GM to do so, but the big invisible hand holding the giant pistol of inevitably will additionally “spur other auto companies and all types of manufacturers” to do the same. You can assume that the word “competition” is being used in the same surreal, orthogonal and, yes, Orwellian sense in which the oligarchs and their loyal propagandists have (ab)used it since about five minutes after worms nibbled away the last bits of Adam Smith’s flesh.
Next we learn how “the prospect of a grueling grind through bankruptcy court” has deterred companies “that might want to rid themselves of pension obligations.” That’s rich. The translation of “a grueling grind” from corporate propagandaspeak into English is basically “management and the fucking bondholders having to suffer through a haircut while the proles enjoy their amputations.” Sure enough, in the next sentence we learn how “specialists” are all antsy and anxious waiting to hear whether the Executive Branch unit of Goldman Sachs “will give either of the auto companies an easier way to shed their huge pension funds, blazing a simplified trail for others to follow”. That’s richer. You can almost see and hear the ominous, dark, looming, grim pension fund being defeated by the brave and resourceful frontiersman - the sort of mythic figure the geniuses of high finance imagine themselves to be - with the sun cutting through the ominous darkness as John Wayne Geithner rides his gleaming, white steed down a newly blazed trail into a braver, happier future. Too bad for the proles that the reality is closer to John Wayne Gacy.
The Times hack manages to do more reporting than mythmongering over the next several paragraphs, with only another brief flogging of the “iron law of competition forcing companies to nuke pensions” crap interrupting the narrative until we come to this gem:
For years, traditional pensions — those that shield workers from market risk — have been in a slow decline, with troubled sectors like aviation and steel shedding their plans in bankruptcy court as new types of individually managed benefits like 401(k) plans have taken hold.
But big sectors, particularly manufacturing and financial services, have clung to the old plans.
Once again we have a morality play wherein the darkness of traditional pensions - those evil constructs that needlessly (and probably harmfully) shield the workers from the dispassionate benevolence of a market that will reward all who are truly deserving - yields to the goodness and happiness of 401(k) plans. The troubled sectors have shed their outworn and outmoded socialist skins to be reborn as bright, shining capitalist butterflies. Now all the rugged individuals who’ve been shedded can manage their own retirement plans with the help of all the rugged individuals managing the 401(k) plans and ruggedly charging them a dozen or so individual management fees. They should strive to be at least as rugged and individual as the fucking bondholders, who bravely sail the stormy but fair seas of capitalism and steadfastly refuse to take a penny’s worth of socialist welfare handouts. Unless, of course, the benevolent and omniscient market unfairly blows them off course towards the Land of Haircuts.
One would think that the whores flogging social security privatization would have sense enough to switch over to their no-tax, anti-abortion or anti-evolution mantras for a while, if only out of a sense of self preservation. Eventually even the most thick-headed of the real populists might figure out that the solution the faux-populist demagogues are offering to a non-existent social security problem is the same solution that’s presently nuking all of their other retirement options, or at least the ones that don’t involve cellular reproduction errors. But, I suspect, they won’t. While it would be nice to see their violent urges turned against those who actually do them harm, they’ll be raptly and rapturously listening to their favorite demagogues until they shoot whoever it is that comes around to repossess their TVs and radios or turn off their electricity - most likely a neighbor desperately trying to hold on to one of the jobs that can’t be outsourced and, sadly and ironically, someone who was probably listening to the same demagogue on the way over.
While there are various arguments advanced about the possibility of a resurgence of reality-based populism - one in which the populace rebels against those who really are reaming them rather than against the straw-men created by those who are reaming them - I’m not sure that’s possible in the post-radio and -visual age of mass information and propaganda. While what Bernays codified in 1928 was known by some long before then (c.f. “The Prince”), an entire science and industry has existed for quite some time whose sole purpose is to convince the public of whatever their clients want the public to believe. And the images and sound available to broadcast and imprint the (ex/im)plicit propaganda to a passive audience are a whole lot more powerful of a tool than the printed page could ever be. And if you want to guess just who the clients of the propaganda machine are, give any of the MSM outlets a call and ask how much for half a minute in prime time.