Inflation Riots 

inflation

The following is a compilation, first published at Zero Hedge, of statements made by The Baltimore Orioles Vice President, John Angelos. It struck me as fascinating on two basic levels. First off, the stunner is that a prominent elitist has spoken a bit of truth that would ordinarily be almost unutterable among such circles. The second thing is how he ultimately gets it wrong 

The Baltimore Riots: The Stunning Comments By Orioles Owner's Son

http://www.zerohedge.com/news/2015-04-28/baltimore-riots-stunning-comments-orioles-owners-son

The day after violent protests left Baltimore burning in the wake of a funeral held for Freddie Gray, who died after sustaining a spinal injury while being taken into policy custody, Americans are struggling to explain how the events that transpired on Monday evening are possible in modern day America. While most are united in their condemnation of indiscriminate violence, many still feel a palpable sense of injustice after witnessing multiple instances of alleged police misconduct over the past year.

In this context we present the following culled from Twitter messages posted by Orioles Executive Vice President John Angelos, son of majority owner Peter Angelos:

‘Brett, speaking only for myself, I agree with your point that the principle of peaceful, non-violent protest and the observance of the rule of law is of utmost importance in any society. MLK, Gandhi, Mandela, and all great opposition leaders throughout history have always preached this precept. Further, it is critical that in any democracy investigation must be completed and due process must be honored before any government or police members are judged responsible’

“That said, my greater source of personal concern, outrage and sympathy beyond this particular case is focused neither upon one night’s property damage nor upon the acts, but is focused rather upon the past four-decade period during which an American political elite have shipped middle class and working class jobs away from Baltimore and cities and towns around the U.S. to third-world dictatorships like China and others, plunged tens of millions of good hard-working Americans into economic devastation, and then followed that action around the nation by diminishing every American’s civil rights protections in order to control an unfairly impoverished population living under an ever-declining standard of living and suffering at the butt end of an ever-more militarized and aggressive surveillance state.

“The innocent working families of all backgrounds whose lives and dreams have been cut short by excessive violence, surveillance, and other abuses of the Bill of Rights by government pay the true price, an ultimate price, and one that far exceeds the importance of any kids’ game played tonight, or ever, at Camden Yards. We need to keep in mind people are suffering and dying around the U.S., and while we are thankful no one was injured at Camden Yards, there is a far bigger picture for poor Americans in Baltimore and everywhere who don’t have jobs and are losing economic civil and legal rights, and this makes inconvenience at a ball game irrelevant in light of the needless suffering government is inflicting upon ordinary Americans.”

Not exactly what the US Department of Truth wanted to hear.

**

It may be true that jobs were shipped off and that technology itself is changing the labor paradigm. But that’s a loaded statement - especially when you throw in dictatorship. 

That accusation immediately exposes the accuser. How can we defend our own brand or ‘idea’ of democracy?  If anything, we are more of a plutocracy or oligarchy. 

See where the representation comes from. Which part of the U.S. population is represented in the national political discussion? A very small number of wealthy (mainly financial) interests. Financial interests that, collectively, do nothing productive for society and certainly are abusive of what are popularly characterized as useful services. 

Maybe ultimately, blame will be intended to fan the appetite for war. Again, the U.S. manufacturing base was long ago shipped off shore as part of the conversion to a fully consumption based economy; there has been a massive underlying policy, or mental shift, at work for much, much longer. One that existed before any of the other issues that it indirectly or directly caused as part of its nature. 

Certainly, the great financialization of every aspect of the economy that occurred with it (bringing slow, steady indirect taxation via inflation) is more of the culprit. Not to mention the horrid misallocation and suffocation of what any would be real capital stream to those who happen to be at the front of the line. 

All the while, this historical monetary debacle continues to build risk to proportions unimaginable, guaranteeing that an even worse crisis may be at hand. 

The violence in the street is just an organic expression of what most refuse to see. It is the articulation of the voiceless, colorless, and soon to be infinite underclass. A sign of the times. And a sobering sign of what is coming. 



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