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View Diary: Open thread for night owls: Market didn't redistribute wealth upward, it was 'deliberate' policy (58 comments)

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  •  Haven't read Shock Doctrine, but, on the surface, (0+ / 0-)

    and strictly from a judging a book by its cover view, it seems silly.

    We seem to respond stupidly to crisis no matter what we do.

    When Katrina leveled New Orleans, it wasn't capitalists who were shouting "Of course we'll rebuild!"  The question of whether New Orleans even makes sense global warming, ocean's rising, weather getting more threatening world was pushed aside.

    And I don't think it was capitalists rushing to shovel money out after Sandy Hook.

    And what of TARP?
    That one might fit the bill, but the real capitalist re-making had its genesis not in economic disaster, but in the repeal of Glass-Steagall.

    At any rate, I've always been skeptical of these bailouts, as I was skeptical of TARP, and the bailouts of GM and Chrysler.
    Politicians come in, choose who they want to win, and don't care who else gets screwed how badly or how long in the process.

    Don't forget that we live in a land where people celebrate this administration's (somehow forgetting that TARP was initiated during the Bush presidency) deft avoidance of a depression in the midst of more than 20 million unemployed and underemployed people plus the largest long-term unemployment problem since the Great Depression of the thirties.

    LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

    by dinotrac on Mon Mar 18, 2013 at 04:19:36 AM PDT

    [ Parent ]

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