The only problem I have with this analogy is that feudalism was a system of loyalty. Social relations were governed by formalized ties of loyalty between lord and vassal, instead of the current system of state and individual. While I would agree that our rulers are working diligently at curtailing democracy, eliminating widespread prosperity, and establishing a permanent aristocracy, I see no sign of the ties of loyalty that existed in feudal society.

Perhaps a system of personal fealty will arise as an end result of the current trend, but until then I'm not convinced that 'feudalism' is the correct analogy.