Skip to main content

View Diary: Afterglow: Bush's PR Nightmare (w/ pics!) (391 comments)

Comment Preferences

  •  It would have been worse for them w/o him (4.00)
    Gore/Kerry would have put in place necessary structural reforms that would have instituted a correction in Wall Street, and the tycoons would have lost money.

    The correction is going to happen anyway. Stocks were treated as speculation rather than investment starting around 1997, and are vastly overvalued by historical standards. But the correction was delayed by Bush's tax cuts, the removal of lots of people from the unemployment rolls b/c their Reserve/Guard units have been kept in Vietraq for two years, and a minor boom related to the security industry. So the superrich and our pension funds have been holding onto their stocks for five years now, because they want a way to dump them off onto the middle class before the correction takes place.

    This is what SS piratization was supposed to do. The benefits to the middle class and the poor will be used to drive up stock prices. The rich sit tight, our massive credit problems cause (and are largely solved by) the correction, and then they foreclose on everything else.

    The moral issues are a giant, dazzling sideshow. The one and only goal is to allow Big Capital to own a much larger slice of the pie, even as the pie stays the same size or gets an eeny bit smaller.

Subscribe or Donate to support Daily Kos.

  • Recommended (120)
  • Community (58)
  • 2016 (44)
  • Elections (37)
  • Environment (35)
  • Media (33)
  • Trans-Pacific Partnership (32)
  • Republicans (31)
  • Hillary Clinton (30)
  • Barack Obama (27)
  • Law (27)
  • Iraq (27)
  • Civil Rights (25)
  • Jeb Bush (24)
  • Climate Change (24)
  • Culture (22)
  • Economy (19)
  • Labor (18)
  • Bernie Sanders (17)
  • White House (16)
  • Click here for the mobile view of the site