A Spectacular stock market? Or, Guy Debord finally gets his day in the sun!

The Economist published a fascinating editorial that, fortunately, I believe disproves itsself. The thesis of which is that the Situationists were right and political economy is now completely spectacular. 

The thesis, written in an offhand way in an article about overvalued markets, goes like this: On top of the already notorious spectacular politics, we have a spectacular stock market which provides only the illusion of a free market, but whose real purpose is to provide bread-and-circuses style entertainment and a way for ordinary people to feel as if they are participating and can even "beat the system" - as seen in movements such as /r/WallStreetBets.

Such a theory has consequences: It follows from this that in reality, the economy is completely divided up between the big corporations and politicians, effectively it is a planned economy, though not a socialist one. This not only isn't theoretical, it isn't even a secret - the economy is openly manipulated by governments and corporations - as we all know, the real conspiracies take place in plain sight.

Spectacular stock markets, therefore, are basically a safety valve, one which replaces Leftist activism and even improves on it by preventing people from thinking outside of the system and potentially making participants rich. 

Spectacular Leftism (as opposed to actual organizing, such as trade union activism) had a very real problem, in that, by definition, it must not only not promise to make most participants wealthy, it actively promises to make participants poor. 

 I used to hang around with crusties myself because I actually was poor, rather than a wannabe, and I can tell you from brutal experience that "activism" of this sort promises a penitents' life of cold water, abandoned buildings, and regular beatings while stockmarket "activism" (or just participation) promises to buy you a house, put your kids through college, pay for your granny's operation, etc, etc, etc.

So anyway: It's all a lie, the stock market is bread and circuses, they've done an end run around us, and blah, blah, blah. It's got legs, I guess.

However, if this were entirely true, it would not be in the editorial page of The Economist. People may conspire in plain sight these days, but they  do not like to admit certain things even to themselves, such as "our profession is a complete fucking joke and we are all being taken for fools by even more powerful elitists than ourselves."

Situationism / Debordism is all very well and good, but like a lot of left wing philosophy it has the potential of turning into a weapon of the system, a weapon against change. It has a self defeating core that says "Hey guys you're all actually in the Matrix, nothing you do can actually change anything, it's all the Spectacle, don't even bother" - that's a counsel of despair, and anyone who promotes despair is not your friend.

I mean, it was in The Economist!