Sunday, July 3, 2011
The Real Causes of the Economic Crisis Get the Whitewash Treatment. It appears that those suffering from the drastic economic meltdown in America are going to be getting a full-on revisionism from some authors who now see too much government regulation or some bill passed in the Administration of Jimmy Carter as the cause of th biggest meltdown since the Great aDepression. Truth is, of course, no entity should escape unscathed from blame. But it is clear that is was the foxes of high finance who are sponsoring a way to make the history of the Economic Meltdown of 2008 into a giant alibi for the deregulators and their friends in high places on Wall Street. Besides, as the man said, a lie just as good as the truth in politics if enough people will believe it. http://www.washingtonpost.com/opinions/the-real-causes-of-the-economic-crisis-theyre-history/2011/06/27/AG2nK4pH_story.html?fb_ref=NetworkNews&fb_source=profile_oneline
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We need to remember a fundamental truth about Neoconservatism:
ReplyDeleteIt is the morally-bankrupt political philosophy responsible for this debacle.
well said
ReplyDeleteI'm pleased to say that in the UK, we have (on the whole) seen politicians from across the spectrum arguing that it's stronger regulation that's required to avoid a similar situation in the future.
ReplyDeleteNow this is so very true as within the fundamentals of America is where I believe that the
ReplyDeletefabric of America resides.
They were certainly the main engine pulling the train off the track, Will.
ReplyDeleteWe need that over here, Ian. To me, that is just common sense.
ReplyDeleteThanks Fred.
ReplyDeleteOf course this does beg the question as to whether there really is an economic crisis at all, or whether it is an arifice of the IMF and World Bank, invoked to slash public spending and guarantee the freedom of the bankers and speculators to screw us from here to Kingdom Come
ReplyDeletePersonally I don't think there is a recession, there certainly isn't in the arms trade, it is all a manufactured myth which if true makes regulation or the lack of it a bit of a red herring.
I think part of that should be to face the fact that we have too many elites in Washington and the banking industry that are figuratively in bed together, Jack.
ReplyDeleteWith Citizens United, who knows what will happen now.....as if things weren't bad enough already.
ReplyDeleteIf you are right, AA, and you might be, the economic situation is even worse than the editorialist imagines. It does seem for certain to me that the emphasis is on cutting public spending on education, health care, and other domestic expenditures over even looking at restoring the tax rate of the 1990's shows we are a long way from making people see any other economic paradigm that would go beyond regulation of the financial markets. I see this is basically a struggle for a restoration of what we had. I do think all this neo-con revisionism is a manufacturing of a red herring.
ReplyDeleteYes, corporate power has grown by leaps and bounds in our political system. Overturning the last laws regulating campaign spending was inevitable after the electorate edged leftward in 2008. I don't think Justice Roberts and his Bush and Reagan appointed pals want Obama around for another term, and they can't rely on voters tot turn him out unless they can really have their friends outspend the lawyers and Hollywood types who give big money to the Democrats.
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