Sendo
18th September 2008, 07:56
Where are the bailouts gonna turn? Do you think that financial collapse is imminent? Will it be slow or prolonged?
I'm wont to believe Michael Hudson's predictions that this move will only keep the system going for a short while longer.
http://www.counterpunch.org/whitney09082008.html
http://www.democracynow.org/2008/9/17/us_seizes_control_of_aig_with
We know the injustices of the socialism for the rich mentality, but the question, is whether this debt to fix bad debt will cause massive collapse. If things were as bad as they seem I'd expect the GOP to be doing more. Maybe they don't want a panic. I hadn't thought too much about this lately (with the Bolivia stuff) but Hudson's bit that Wall Street wants this disaster (reminded of Naomi Klein's Shock Doctrine). This sense of corporate welfare and undemocratic, anti-worker, military-industrial complex moves remind me of Nazi Germany.
The trampling of rights had superficially mirrored the third Reich, but it appears more and more that the US will be ideologically and economically and theoretically and materially on line with 1930s/1940s fascism. Maybe not quite as harsh, but similar to the early days of Hitler with its appointments lack of civil rights, military expansion, and corporate welfare, all seized upon in the midst of disaster and economic depression.
Maybe these are more symbolic than anything else, but it def does not bode well for the future. Even if things get no worse we still have an economy propped up on fake wealth and investment banking.
I'm wont to believe Michael Hudson's predictions that this move will only keep the system going for a short while longer.
http://www.counterpunch.org/whitney09082008.html
http://www.democracynow.org/2008/9/17/us_seizes_control_of_aig_with
We know the injustices of the socialism for the rich mentality, but the question, is whether this debt to fix bad debt will cause massive collapse. If things were as bad as they seem I'd expect the GOP to be doing more. Maybe they don't want a panic. I hadn't thought too much about this lately (with the Bolivia stuff) but Hudson's bit that Wall Street wants this disaster (reminded of Naomi Klein's Shock Doctrine). This sense of corporate welfare and undemocratic, anti-worker, military-industrial complex moves remind me of Nazi Germany.
The trampling of rights had superficially mirrored the third Reich, but it appears more and more that the US will be ideologically and economically and theoretically and materially on line with 1930s/1940s fascism. Maybe not quite as harsh, but similar to the early days of Hitler with its appointments lack of civil rights, military expansion, and corporate welfare, all seized upon in the midst of disaster and economic depression.
Maybe these are more symbolic than anything else, but it def does not bode well for the future. Even if things get no worse we still have an economy propped up on fake wealth and investment banking.