We live in a time of dynamic, regressive, regime changes. A period in which major political transformations and the dramatic roll back of a half century of socio-economic legislation are accelerated by a prolonged and deepening economic crises and a world-wide financier led offensive. This essay explores major ongoing regime changes that have a profound impact on governance, the class structures, economic institutions, political freedom and national sovereignty. We delineate a two-stage process of political regression. The first stage involves the transition from a decaying democracy to an oligarchical democracy; the second stage currently unfolding in Europe involves the transition from oligarchical democracy to colonial-technocratic dictatorship. We will identify the specific features of each regime focusing on the specific conditions and socio-economic forces behind each “transition”. We will proceed to clarify the key concepts, their operative meaning: specifically the nature and dynamics of “decaying democracies” (DD), oligarchical democracies (OD) and “colonial technocratic dictatorship” (CTD).