The Rot at the Top: Is the Elite Unfit to Rule?

George Galloway recently sat down with Colonel Douglas Macgregor to discuss the current state of affairs, touching on the Epstein scandal and its potential fallout. The conversation highlighted a growing sentiment that the country’s top 1%, who hold significant power, may not be fit for their roles.

The Decay of the Ruling Class

Colonel Macgregor drew a parallel to historical events in France during the 1780s, suggesting that the current American elite, much like the aristocracy of that era, is showing signs of decay and unworthiness to govern. He described them as "degenerate" and lacking the qualities needed to lead.

Key Takeaways

• The current ruling class is seen as unfit to govern.
• Their power stems from controlling the financial system, not from building industries.
• Financialization primarily benefits the elite, not the general public.

Financial Capitalists vs. Industrial Builders

Macgregor pointed out a significant difference between today’s wealthy elite and figures from the past. He contrasted the current financial capitalists, who have amassed fortunes through financial transactions and fees, with industrialists like the Rockefellers who built tangible industries such as oil, plate glass, and automobiles. He noted that these builders are largely gone.

He suggested that Elon Musk might be one of the few exceptions who has recently built something substantial. However, the prevailing trend among the elite is a focus on financial engineering rather than productive enterprise. The question raised is what this financialization actually produces for the average American. According to Macgregor, the answer is nothing, and it ultimately leads to the impoverishment of the public.

The Impact of Financialization

The core of the argument is that the current economic system, driven by financial transactions, benefits a select few at the expense of the many. While the elite profit from fees and market manipulations, the broader population sees no tangible benefit. This disconnect, Macgregor implies, is a major source of societal problems and could have significant political consequences, potentially even impacting President Trump due to the Epstein scandal’s revelations about the elite’s behavior.