Economies were wrecked in the process. So were millions of lives. People haven't enough to live on. Policymakers plan making things worse. Austerity represents bad economics and moral failure. Let-eat-cake economics doesn't work. It sparks revolutions.
They don't turn out much better. Things often change but stay the same. Europe is sinking. So is the American dream. For most it was largely illusory. Now it's disappearing altogether. A nightmare replaced it.
Cutting back when stimulus is needed is madness. Doing so assures decline. For most people, it's the worst of all possible worlds. Middle class societies are destroyed. Neoserfdom replaces them. Public anger follows.
Social inequality defines immorality. It's also bad economics. Stimulus improves lives. Jobs are created. All boats are lifted. When people have money they spend it. Hard times forces belt-tightening.
Obama embraces the worst of bad government. He's pro-corporate and soulless. He's a moral coward. He's amoral, wicked, lawless and uncaring.
He's beholden to powerful monied interests. They own him. He assures protracted hard times.
How much more ordinary people will take they'll have to explain. Perhaps they'll become more assertive. It's high time they defended their own interests. No one will do it for them.
Stephen Lendman lives in Chicago and can be reached at Email address removed .
His new book is titled "Banker Occupation: Waging Financial War on Humanity."
Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.