If ideology on the right is not going anywhere, ideology on the left is also here to stay—and sometimes pay.
The fact of the matter is that our system is collapsing. The bank bailouts and interest rate cuts didn’t work. Unemployment will rise and companies will fall. As that happens, disatisfaction, anger and outrage will build. The Pentagon’s plans to contain civil unrest is based, in part, on that expectation.
Obama may be pushing the envelope in the center but he is, as I quote him in my book Plunder, “a free market guy.” Yet he knows or should know that a couple of after the fact regulations and quickie stimulus plans are unlikely to arrest the structural decline.
Bear in mind that what we are up against is not just a credit crisis but a crisis of capitalism itself. There I said it! That means we have to look behind the daily machinations of the markets.
What bubble will go next? Credit cards? Pension funds? Cedit debt swaps? Already the government uis $11 trillion in debt. There have been $3.6 trillion in credit losses Add in $3 trillion in war costs tend and soon your are talking about real money and real pain.
The government must act and will act but the conservatives who point out that it took the New Deal YEARS to work, and then took a world war to save the system are not totally wrong. Simply trying to revive or reform a corrupt system does not make for change, nor does it promise the kind of economic transformation we need.
The Obama speech said the right things about Greed but then puttered off into a vaguer indictment of all of us. He may be right but if everyone is to blame, no one is to blame and then what?
Our media goes on with daily reportage but the breaking news is not breaking any new ground in helping us understand the depth of the problems we are up against.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
