20080812
The City
20080810
Primer: American Debt and Global Capitalism
(Slavoj Žižek, Have Michael Hardt and Antonio Negri Rewritten the Communist Manifesto For the Twenty-First Century?)
"To be sure, the increased availability of credit has contributed mightily to the American economy and has allowed consumers to make big-ticket purchases like homes, cars and college educations.
"But behind the big increase in consumer debt is a major shift in the way lenders approach their business. In earlier years, actually being repaid by borrowers was crucial to lenders. Now, because so much consumer debt is packaged into securities and sold to investors, repayment of the loans takes on less importance to those lenders than the fees and charges generated when loans are made."
"But globalization also emboldened American capitalists to take huge risks they might have otherwise avoided — like borrowing to erect forests of unsold homes from California to Florida, delivering the speculative disaster of the day. They were operating with bedrock confidence that money would never run out. Someone would always buy American debt, delivering more cash for the next go."
"And this same interconnectedness appears to have reassured regulators in Washington about the health of the American financial system, as they declined to intervene against highly speculative lending during the real estate boom. Mortgages were being distributed to investors around the globe, and so were the risks, the regulators reasoned. Anyone who bought into that risk would have a strong interest in seeing that the American financial system stayed upright."
"In other words, in the estimation of people in control of money, the United States cannot be allowed to collapse, just as Fannie and Freddie cannot be allowed to fail. Too much is riding on their survival."
"The central truth of that logic still seems to be apparent as the Treasury keeps finding takers for American debt."
"Nowadays we barely pause between such bouts of insanity. The dot-com crash of the early 2000s should have been followed by decades of soul-searching; instead, even before the old bubble had fully deflated, a new mania began to take hold on the foundation of our long-standing American faith that the wide expansion of home ownership can produce social harmony and national economic well-being. Spurred by the actions of the Federal Reserve, financed by exotic credit derivatives and debt securitiztion, an already massive real estate sales-and-marketing program expanded to include the desperate issuance of mortgages to the poor and feckless, compounding their troubles and ours."
"That the Internet and housing hyperinflations transpired within a period of ten years, each creating trillions of dollars in fake wealth, is, I believe, only the beginning. There will and must be many more such booms, for without them the economy of the United States can no longer function. The bubble cycle has replaced the business cycle."
"The next bubble must be large enough to recover the losses from the housing bubble collapse... we can expect to see the creation of another $8 trillion in fictitious value, which gives us an estimate of $20 trillion in speculative wealth, money that inevitably will be employed to increase share prices rather than to deliver 'energy security.' When the bubble finally bursts, we will be left to mop up after yet another devastated industry. FIRE (finance, insurance, and real estate), meanwhile, will already be engineering its next opportunity. Given the current state of our economy, the only thing worse than a new bubble would be its absence."
"Borrowers who are in trouble on their mortgages have seen their government move slowly — or not all — to help them. But banks and the executives who ran them are quickly deemed worthy of taxpayer bailouts."
"On the ground, this translates into millions of troubled borrowers, left to work through their problems with understaffed, sometimes adversarial loan servicing companies. If they get nowhere, they lose their homes."
"Once again, this emergency action smacks of the regulatory responses of recent years: do nothing to curb the deal-making mania while it is occurring, but when the rout comes along, hurry up and rein it in."
20080809
Denumerable Multiplicities and Virtual Multiplicities
20080808
Number and Numbers
0.2. That number reigns, that the imperative must be: "count!" – who doubts this today?
0.3. Firstly, number rules our political conceptions, with the currency (consensual, even if all politics of the thinkable is enfeebled) of suffrage, of opinion polls, of the majority. Every "political" assembly, general or local, municipal or international, voting-booth or public meeting, is settled with a count. And every opinion is measured by the standard of an incessant enumeration of its advocates (even if such an enumeration makes of every fidelity an infidelity). What counts – in the sense of what is valued – is that which is counted. Inversely, everything that deals with numbers must be valued. "Political Science" finesses numbers within numbers, cross- references series of numbers, its only object being shifts in voting patterns – that is, changes – usually infinitesimal – in the tabulation of numbers. So political "thought" is a numerical exegesis.
0.9. But we don’t know what a number is, so we don’t know what we are.
20080807
Nietzsche: On War
20080804
Marx and McLuhan on Method
...and the professional ideologists (priests of all sorts, most of whom are convinced ‘laymen’)
"...the real aim of ideology is the attitude demanded by it, the consistency of the ideological form, the fact that we 'continue to walk as straight as we can in one direction'; the positive reasons given by ideology to justify this request -- to make us obey ideological form -- are only there to conceal this fact: in other words, to conceal the surplus enjoyment proper to the ideological form as such."
Reading the Philosphical Text
20080801
Empire
'We should emphasize that we use ‘‘Empire’’ here not as a metaphor, which would require demonstration of the resemblances between today’s world order and the Empires of Rome, China, the Americas, and so forth, but rather as a concept, which calls primarily for a theoretical approach. The concept of Empire is characterized fundamentally by a lack of boundaries: Empire’s rule has no limits. First and foremost, then, the concept of Empire posits a regime that effectively encompasses the spatial totality, or really that rules over the entire ‘‘civilized’’ world. No territorial boundaries limit its reign. Second, the concept of Empire presents itself not as a historical regime originating in conquest, but rather as an order that effectively suspends history and thereby fixes the existing state of affairs for eternity. From the perspective of Empire, this is the way things will always be and the way they were always meant to be. In other words, Empire presents its rule not as a transitory moment in the movement of history, but as a regime with no temporal boundaries and in this sense outside of history or at the end of history. Third, the rule of Empire operates on all registers of the social order extending down to the depths of the social world. Empire not only manages a territory and a population but also creates the very world it inhabits. It not only regulates human interactions but also seeks directly to rule over human nature. The object of its rule is social life in its entirety, and thus Empire presents the paradigmatic form of biopower. Finally, although the practice of Empire is continually bathed in blood, the concept of Empire is always dedicated to peace—a perpetual and universal peace outside of history.'
Piracy is Terrorism
20080728
Value is Chaos
20080724
The Challenge of the Next Great Philosophy
"But this new world is perfectly realised just as little as the new-born child; and it is essential to bear this in mind. It comes on the stage to begin with in its immediacy, in its bare generality. A building is not finished when its foundation is laid; and just as little, is the attainment of a general notion of a whole the whole itself. When we want to see an oak with all its vigour of trunk, its spreading branches, and mass of foliage, we are not satisfied to be shown an acorn instead. In the same way science, the crowning glory of a spiritual world, is not found complete in its initial stages. The beginning of the new spirit is the outcome of a widespread revolution in manifold forms of spiritual culture; it is the reward which comes after a chequered and devious course of development, and after much struggle and effort. It is a whole which, after running its course and laying bare all its content, returns again to itself; it is the resultant abstract notion of the whole. But the actual realisation of this abstract whole is only found when those previous shapes and forms, which are now reduced to ideal moments of the whole, are developed anew again, but developed and shaped within this new medium, and with the meaning they have thereby acquired."
"Let the other sciences try to argue as much as they like without philosophy – without it they can have in them neither life, Spirit, nor Truth."
(Friedrich A. Kittler, On the Implemetation of Knowledge: Toward a Theory of Hardware)
20080723
From Antonioni
"Scientific man is already on the moon, and yet we are still living with the moral concepts of Homer."
"We live in a society that compels us to go on using these concepts, and we no longer know what they mean."
"I can never understand how we have been able to follow these worn-out tracks laid down by panic in the face of nature."
20080719
Post-Ideological Politics?
20080717
Read "Pop Culture" as Folk Religion
20080713
The future of the future is the present.
'Our programme must be: the reform of consciousness not through dogmas but by analyzing mystical consciousness obscure to itself, whether it appear in religious or political form. It will then become plain that the world has long since dreamed of something of which it needs only to become conscious for it to possess it in reality. It will then become plain that our task is not to draw a sharp mental line between past and future, but to complete the thoughts of the past. Lastly, it will becomes plain that mankind does not bring about any new work, but consciously brings about the completion of its old work.'
20080710
Derrida: The medium is the message.
"...it is difficult to avoid the mechanist, technicist, and teleological language at the very moment when it is precisely a question of retrieving the origin and the possibility of movement, of the machine, of the techné, of orientation in general. In fact, it is not difficult, it is essentially impossible. And this is true of all discourse. From one discourse to another, the difference lies only in the mode of inhabiting the interior of a conceptually destined, or already submitted, to decay. Within that conceptuality, or already without it, we must attempt to recapture the unity of gesture and speech, of body and language, of tool and thought, before the originality of the one and the other is articulated and without letting this profound unity give rise to confusionism."20080709
Reading the Suprime Crisis
In his reading of Badiou, Adrian Johnston discerned the ideologico-critical potential of the Badiouian topic of evental breaks: when the balance of an ideological situation is disturbed by arising "symptomal knots," elements which, while formally part of the situation, do not fit into it, the ideological defense can adopt two main strategies, the false "eventalization" of the dynamics which is thoroughly part of the existing situation, and the disavowal of the signs which delineate true evental possibilities, their reading as minor accidents or external disturbances:
one, making mere modifications appear to promise evental newness (a tactic that comes to the fore in the ideology of late-capitalism, whose noisily marketed "perpetual revolution" is really just an instance of the cliché "the more things change, the more they stay the same"-or, as Badiou puts it, "capitalism itself is the obsession of novelty and the perpetual renovation of forms"); two, making the sites sheltering potentially explosive evental upheavals appear to be, at a minimum, unremarkable features of the banal, everyday landscape, and, at most, nothing more than temporary, correctable glitches in the functioning of the established system.
Perhaps, this line of thought needs just one qualification: Johnston writes that "the ideology of the worldly state, through a sort of bluff or masquerade, disguises its non-integrated weakest points, its Achilles' heels, as fully integrated cogs and components of its allegedly harmonious functioning-rather than as loci containing the potential to throw monkey wrenches in its gears and thereby generate evental dysfunctions of this regime, a regime that is never so deeply entrenched as it would like to appear to be in the eyes of its subjects." Would it not rather be that one of the ideological strategies is to fully admit the threatening character of a disfunction, and to treat it as an external intrusion, not as the necessary result of the system's inner dynamics? The model is here, of course, the Fascist notion of social antagonisms as the result of a foreign intruder - Jews - disturbing the organic totality of the social edifice.
Recall the difference between the standard capitalist and the Marxist notion of economic crisis: for the standard capitalist view, crises are "temporary, correctable glitches" in the functioning of the system, while from the Marxist point, they are its moment of truth, the "exception" which only allows us to grasp the functioning of the system (in the same way that, for Freud, dreams and symptoms are not secondary malfunctionings of our psychic apparatus, but moments through while one can discern the repressed basic functioning of the psychic apparatus).'
(Slavoj Žižek, "On Alain Badiou and Logiques des mondes")
