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Kernels of truth at times slip through. Never enough to matter. In 2008, London Guardian columnist Jonathan Freedland called "(t)urbo-capitalism".not just unfair, it is dishonest and dangerous."
"(S)urely this is the moment when Labour and the centre-left can dare question the neoliberal dogma that has prevailed since" Margaret Thatcher.
Freedland got permission to go so far, but no further. Call it a red line impermissible to cross. He argued for "a kinder, gentler form of capitalism instead of the 'turbo' " model ravaging Western societies.
Transnational oligopolistic capitalism, of course, doesn't tolerate people friendly practices. Bottom line priorities alone matter. Governments permit grand theft. They collude with banking giants to wage financial war.
They're well compensated for betraying their constituents. So are scoundrel journalists willing to support a system they should expose fully and condemn.
Economist Harry Shutt said one of the financial crisis' most striking features is "the the uniformly superficial nature of the analysis of its causes presented by mainstream observers, whether government officials, academics or business representatives."It's true as well for scoundrel journalists. Shutt added:
"Thus it is commonly stated that the crisis was caused by a combination of imprudent investment by bankers and others (as well as) unduly lax official regulation and supervision of markets."
"Yet the obvious question begged by such explanations -- of how or why such a dysfunctional climate came to be created -- is never addressed in any serious fashion."
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