For months now I have been reading blogs, economic columnists, guests on talk shows, congressional committees and whatever, yet all more or less say the same thing without going to the core issue that the financial system is essentially inefficient and amoral. It is indeed the invisible hand of corruption. The juxtaposition of the auto industry and the banking system is a case in point, symbolic of what is wrong with the economic base. The outrage toward the Big Three—far from big for some years now—is hypocritically centered on their not accommodating consumer needs; that is, angelic consumers did not want SUVs, bigger trucks and high priced passenger cars. This in face of the Big Threes keeping abreast of foreign automakers in low mileage cars and quality. Somehow the relative efficiency of American auto manufacturers got lost in public hatred and envy of UAW, in spite of its having for years in trying to survive made unending concessions. While on the other hand, bankers conceded nothing and did nothing in improving its products —credit cards, mortgages, speculation and above all truth in lending. The credit card, because of the reckless manner in which bankers issued them to virtually anyone on the speculation of leveraging them by crucifying balances with high-end usury to those who were barely able to meet the minimum payment, went unnoticed by regulators to the degree that not unlike ARM mortgages, innumerable defaults became the norm among low income payers. Subprime mortgages slipped through the same clogged vein by becoming instruments of volume originator fees for derivative packaging for speculators and consequently shaded insurance all adding to the piggy back debacle of losing sight of the purpose of finance. At the same time shady hedge funds and investment banks , to say nothing of mutual funds, were churning up unconscionable fees and bonuses by getting into the act of borrowed money gone ballistic.

At least, the auto industry was doing the job of purposeful supply and demand before the $4 gasoline hit the “free market”: Honda thrived less on Civics and Accords while pushing more and more Accuras out the dealers doors; Toyota its usual Corollas and Camrys were so-so, but mainly marketed its Lexus; Sonata’s V6s had become synonymous for Hyundai, the Navigator and Tbird for Ford, Cadillac and Stingray for GM, and for Chrysler the Ram and Charger and the consumers loved it without suffering inasmuch as the usual repossessions were stable. Then came the unforgiving oil conspirators, and the sandstorm of dried up credit. Wall Street got bailed out; the American auto manufacturers got the middle finger. Why? Not because of mismanagement gone awry—it, after all, was satisfying demand—rather damnable labor, unionized. Either Michigan becomes Alabama or it can die. Legacy assets are now toxic with little mention that these outrageous perks have saved the taxpayers multi billions in healthcare and old age benefits for sixty years.

Economists have no idea what constitutes wealth; they continue to think free-market and government intervention to unleash entrepreneurial energy and labor thereof without once mentioning that the vast accumulation of wealth is subject to the wills and whims of sharks and barracudas in control of the seas of finance as to whether we sink or swim. Until there’s a severe rise in unemployment that directly effects consumption and weighs on the country’s obligation to compensate for the yawning hole in full activity, do the government and captains of industry fall back on the haunting truth of old Henry Ford that egalitarian wages are needed to keep a co-dependent consumer economy afloat.

The true measure of a successful economy is in the greater wealth of a sprawling middle class in order to reap abundance and sustain incomes, to say nothing of minimizing a lower class, and a shrinking upper class that has less influence on, and access to, the flow of capital, particularly in foreign investment , thus generating the need for indigenous enterprise, just as China is now seeing the light. Of course, there will always be an elite class but not consisting of the ostensibly “best and brightest” so prominent in the financial world but rather those inventive persons connected with the realm of true talent in the advanced production of science, education, technology, manufacturing and true arts but that does not imply such talent should amass material wealth—anyone appreciative of his God given acumen should know that the wrong twist of DNA could have sentenced him to the coal mines. These notorious “best and brightest” entering the business world today are indoctrinated into the deviant way of the Me, not into the way of capital for the common good. Not that investments in modern marvels are bad but surely the direction of capital needs to be prioritized—iPods and another Vegas casino should be on the back burner of investments and Trump-like construction should be banned unless it gets serious about the nation’s building needs. And did New York really need two new stadia in the ugly face of city school blight? Surely, the same can be said of the auto industry: do we really need all these auto companies? The nation could be well serviced by Toyota and Honda alone. Why not toss the other foreigners out and shutdown Detroit altogether? After all, GM at least is loved in Bejing. If another Great War should raise havoc, Japan ironically can be trusted to convert to the war effort. So why then should we care? National sentimentality is not reason enough; besides few grandfathers of the golden age of American cars are able to drive.

And while we’re at it, why not burn every last American flag?—the US will survive less national pride. It is not the American auto industry per se; it is rather the symbolic power of the last line of defense in the viability of manufacturing we once reveled in. If we defend the auto industry we might then face up to the rebirth of textiles, safe toys, shoes, electronics, and appliances. Why, we might even be inspired finally to come to grips with energy independence with the resurrection of Rosie the Riveter and the nobility of real labor, rather than shamelessly living off the exploitation of “Gook” and child labor of Asian nations, to say nothing of South American immigrants.

It is pure myth in thinking US manufacturing will cause uncontrollable labor costs. In fact, US cars are cheaper than foreign. It might mean that those jeans might have to live through a few more wash cycles before being discarded—a small price to pay for its maker to have a pension and healthcare. American makers of toys and baby furniture don’t use lead paint—priceless. A reborn Wal*Mart could reduce Sam’s family to mere multimillionaires by truly passing its profits onto its labor and consumers.

Bankers, discarding grandiose schemes, might think purposefully about local small business and real estate, priming a community to develop fair labor and price exchange in lieu of cabalistic practices of the subdivision of capital beyond recognition. Even Wall Street—not without a heavy hand—might take its eyes off minute by minute tracking and let capital flow intelligently and naturally for a while without nipping at it by continual profit-taking and churning to no end. Exorbitant compensation must come back to reality—not only CEOs, but brokers, professional athletes, entertainers, lobbyists and perks to politicians. This is not redistribution of wealth; rather a return to its natural owners, the unsung earners of the commonwealth, many of whom, and most importantly, will again be qualified to pay their share of federal income tax.