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-- "Debts that can't be repaid;"
-- rising defaults;
-- the illusion of "borrowing out way out of debt;"
-- an economic recovery favoring oligarchy, "the FIRE sector - finance, insurance and real estate - not the 'real economy;' "
-- America's "Bubble Economy (leaving) families, companies, real estate and government so heavily indebted that they must use current income to pay banks and bondholders," making it unavailable for goods and services; and
-- the "most dangerous belief that the economy needs the financial sector to lead its recovery by providing credit," when, in fact, Wall Street wrecked the economy by "predatory lending....casino gambling," and looting the federal Treasury to cover losses.
Hudson worried that Obama's speech would "celebrate this failed era." In fact, his policies embrace it, will continue to going forward, and proposing a discretionary spending freeze, the part most important to increase, is counterproductive and ludicrous. Specifically he said:
"Starting in 2011, we are prepared to freeze government spending for three years. Spending related to our national security (meaning militarism and imperial wars), Medicare, Medicaid, and Social Security will not be affected. But all other discretionary government programs will."
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