Quote:
Originally Posted by SamIam
In the current economic climate there seem to be few viable options for liberals or conservatives.
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Numerous reporters, including Joe Klein of Time Magazine, note the curious. With Democrats and Republicans, workers and management, taxpayers and government, moderates and extremists, etc all in confrontation. How curious. Even the millionaire may be on strike against the billionaires. People who created this mess - ie Wall Street, financial organizations, financial instrument creators, corporate spin doctors and their finance departments, etc - are running scot free, unchallenged, and with record incomes. The number of people actually prosecuted is almost zero (even Enron executives almost went free).
I have said this often when we were creating these economic problems back in early 2000s. Money games mean economics takes revenge many years later. I believe I may have put dates to it such as 2010 and 2012.
Welcome to what happens when we let the richest and least productive segments of society create economic miracles using (Kennedy) tax cuts, putting social security into stock markets, liberate financial markets, subvert all regulation (especially the SEC), permit secret contracts rather than trade them on public markets, use war to make a stronger economy, welfare to this nations most unproductive industries (ie $25billion annually to ethanol), obstruct Basel xx, shorting pension funds while blaming the unions, solve problems by creating jobs with finance spin games, and claim US financial markets were smarter than the rest of the world.
Welcome to how almost everyone pays when we ignore what was obvious ten years ago. And notice how the few people most responsible for this mess are only spectators. Have seen their incomes increase easily 100% when the average American income dropped 2%. So who is, for example, government going after? Only the richests are not even seeing their tax rates go back to normal. People most responsible for this mess are the least under stress.
When it comes to economics, there is no justice. Economics takes revenge if a nation does not heavily regulate finance people. And hold their feet to the fire when spread sheets four plus years later report what they really did. Instead, the people must punished are common people who let the finance industry ply them with lies. Ie balloon mortgages. Ie borrowing money to buy a car. Ie credit cards with an outstanding balance. Ie tax cuts to the rich that create no jobs.
Or maybe there is justice? The people most harmed by this recession are the ones who all but wanted it by remaining silent. For example, knowing Saddam had WMDs, corporate welfare to drug companies to keep drug prices 40% higher. K Street where almost nobody got prosecuted. By not demanding heads in the White House and Congress. In fact many now hurt foolishly praised the people who were most harmed them. An overwhelming reaction I saw in the Cellar approved of what now we must pay for. Welcome to how economics takes revenge. And maybe the real criminals - the common man who voted for these people - is being properly punished.