Wednesday, March 18, 2009

Michael Hudson Knows Where It's At...

Really. He does.

His article in Counterpunch, "The Cash-for-Trash Economy", is the most comprehensible and extensive explanation of how we got into this horrendous financial mess.

To read Hudson is to finally understand that the "too big to fail" doctrine does not apply only to different American industries but to America as a whole.

"Our deficit, their problem" "Our war, their problem" " Our gas guzzling SUV, their problem": we have been letting the world clean up our problems for so long while stuffing their banks with our worthless money and wriggling our holier-than-thou middle finger under their noses that we just thought we could go on forever.

Well, the party's over and Wall Street still doesn't get it. Bernanke still thinks we should give more money to the bank so that they could keep doing business as usual. "Our deficit, the taxpayer problem". But let's keep all the players and the deficient structures in place and hope for different results.

So your taxes' dollars should go 1/2 to the military, 1/4 to repay those banks' debts and the rest for tax cut for the rich or interest repayment. Shame on you should you ask for good schools, good health care or consumer protection. The market will provide. The Repugs have only your best interest at heart. And yes I said Repug. If Obama does not accomplish a clean break with the past 8 years or so, it will only be a continuation of a destructive "conservative" philosophy that rhymes with sacrificing the weak and poor for the profit a very small incredibly toxic minority. It's too bad many take their toxicity for strength, power or even worse, wisdom.

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