The final stages of capitalism, Karl Marx predicted, would be marked by global capital being unable to expand and generate profits at former levels. Capitalists would begin to consume the government along with the physical and social structures that sustained them. Democracy, social welfare, electoral participation, the common good and investment in public transportation, roads, bridges, utilities, industry, education, ecosystem protection and health care would be sacrificed to feed the mania for short-term profit. These assaults would destroy the host. This is the stage of late capitalism that Donald Trump represents.
Trump plans to oversee the last great campaign of corporate pillaging of America. It will be as crass and brazen as the fleecing of the desperate people, hoping for a miracle in the face of dead-end jobs and ruinous personal debt, who visited his casinos or shelled out thousands of dollars for the sham of Trump University. He will attempt to unleash a kleptocracy—the word comes from the Greek klépto, meaning thieves, and kratos, meaning rule, so it is literally “rule by thieves”—one that will rival the kleptocracies carried out by Suharto in Indonesia and Ferdinand Marcos in the Philippines. It is not that Trump and his family will use the influence of government to increase their wealth, although this will certainly take place on a massive scale; it is that hundreds of billions of federal dollars will be diverted into the hands of cronies, sleazy bankers, unethical financial firms and scabrous hedge fund managers. The pillars of the liberal state will be obliterated.