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View Diary: Another example of why inequality is destroying the global economy (36 comments)

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  •  The austerity etc comes from insolvent banks (3+ / 0-)
    Recommended by:
    blueoregon, RichM, gjohnsit

    doing what they can with the aid of their employees (government officials) to make their books look better. The ordinary people are on a rack which will be ratcheted tighter and tighter as time passes. As the insolvency is so vast, even turning us all into slaves won't make the books healthy.

    So would the "stopping it" involve just running on the banks? Everybody pull everything out and force the hidden truth of banker insolvency into the open? And then rebuild from there.

    It seems, on first thought, the quickest way to pull down the rubble and get to rebuilding on a sound footing again. Painful as it is, the water-torture method we have now will be every bit as painful, plus interest. If we had forced the bankruptcy/reorganization of the Too Criminal To Trouble Banks back in 2007 we'd be well on the way to real health, rather than in the midst of the Great Depression With No End In Sight we have now.

    Maybe I'm completely wrong on this, I don't know.

    If Republicans said every 3rd person named "Smith" should hang, we'd bargain them to every 7th. Then we'll see apologia written praising this most pragmatic compromise. There's our losing formula.

    by Jim P on Thu Mar 28, 2013 at 02:26:40 PM PDT

    [ Parent ]

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