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View Diary: David Stockman: “get out of the markets and hide out in cash” Corruption Of Capitalism (122 comments)

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  •  I'm starting to see that a lot here, lately :(. (17+ / 0-)

    Some diarists will latch onto any opinion if it criticizes the hated, evil military or the hated, evil corporations.  But, really?  Welfare state?  The false canard about how we're going broke?  Edging close to the fact-free currency hysteria of Ron Paul and Alex Jones?  Does this guy even understand why what happened to Greece and Cyprus can only happen to a nation without its own currency, that the risks we face are serious but fundamentally different?

    It's not enough to be against something - we've got to be for something, too.  So he becomes king for a day and axes military spending, hitting not just defense contractors but enlisted personnel who are not in the private sector job market today, throwing them back into the job market all while immediately closing the Fed's liquidity faucets?  All while cutting "welfare" benefits?  Those are exactly the sorts of mistakes that were made by Hoover when the original bubble burst and again by Congress when they started serving FDR shitty budgets in the late '30s.

    I'm glad that he's got no serious chance of getting close to the government.  He may be right about defense spending but even stopped clocks are right twice a day, and this guy is most assuredly a cognitive stopped clock.

    "The first drawback of anger is that it destroys your inner peace; the second is that it distorts your view of reality. If you come to understand that anger is really unhelpful, you can begin to distance yourself from anger." - The Dalai Lama

    by auron renouille on Mon Apr 01, 2013 at 05:03:10 AM PDT

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    •  Yes we should embrace (7+ / 0-)

      the millitary industrial complex, spending 6 trillion dollars on war, undermining the New Deal to sustain it, maintaining the doubled Bush era "defense" spending no matter what it takes to keep it going, and adding billions upon billions of "Homeland Security" police state spending on top of that.

      We should not demonize those corps who are sitting on trillions in cash, keeping as much of it as possible offshore, not hiring, outsourcing jobs, and not paying taxes, receiving untold amounts of subsidies and still wanting a lower corporate tax rate.

      And the hardly regulated banks, we should never demonize them.

      It's those Chicken Little progressives that are the problem.

      "Justice is a commodity"

      by joanneleon on Mon Apr 01, 2013 at 05:28:21 AM PDT

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      •  +1 (5+ / 0-)

        It's tiresome hearing all the time about how we're broke. No, we're not broke, we've just been robbed.  Nothing like having your leaders keep stealing from you while telling you its your own fault.

        That said, its long past time these fools admit Reagan's voodoo economics don't work.  The only thing keeping the patient animated is the influx of corporate cash into our electoral system.  

        It is an old strategy of tyrants to delude their victims into fighting their battles for them. FDR

        by Betty Pinson on Mon Apr 01, 2013 at 06:11:47 AM PDT

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        •  Vodoo Economics Does Work ... (2+ / 0-)
          Recommended by:
          Pluto, Klusterpuck

          ... for the 1%, that is.  How else do you think they have been able to more than double their share of the income pie while the rest of us get lectured to about how there is no money to pay the workers, pay for the schools or infrastructure?

          Poor man wants to be rich. Rich man wants to king. And the king ain't satisifed until he rules everything. B.Springsteen

          by howd on Mon Apr 01, 2013 at 08:38:32 AM PDT

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      •  Joanne, the previous poster was ironically (2+ / 0-)
        Recommended by:
        Pluto, joanneleon

        mentioning Greece in regard to its euro troubles, but you are more on target regarding Greece as well.

        Greece's major debt, to the tune of 150 billion, came from military spending, and most of that was vendor financed (i.e. the arms companies provided the financing). This is what sunk Greece, not its non-existent welfare system, and its smaller than average bureaucracy.

        There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

        by upstate NY on Mon Apr 01, 2013 at 12:14:41 PM PDT

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    •  So true, Auron, so true. (3+ / 0-)
      Recommended by:
      Deep Texan, corvo, auron renouille

      The elevation of appearance over substance, of celebrity over character, of short term gains over lasting achievement displays a poverty of ambition. It distracts you from what's truly important. - Barack Obama

      by helfenburg on Mon Apr 01, 2013 at 05:31:19 AM PDT

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