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View Diary: Wherein "Bernanke Cuts Geithner Off at the Knees" (161 comments)

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  •  I know many with his level of education (2+ / 0-)
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    hyperstation, Pluto

    And they ARE that clueless.  A huge chunk of the academic, commentator and business class in this country -- even when they're implacable opponents of the Tea Party -- is genuinely terrified of making a significant change.  "Socially liberal, fiscally conservative" is still a mantra, as it has been for 35 years.  The Krugman and Stiglitz types are still very much in the minority, and it's extremely difficult to get that message through.

    This clinging to the mantra is very odd.  I'm far more naturally inclined to lean conservative than most of the people I know, and yet I think things are far more skewed to the conventional wisdom of the right than do most people I know.  But I'd like it if people figured out that the economic troubles of the 70s and the early 80s were due to the OPEC oil shocks, not big government, and that big government has actually by and large helped to provide some stability.  Otherwise we will keep repeating the twin mistakes of unsustainable resources and an economy kept out of balance by wealth inequality, and it will take another Depression for us to have even a chance of waking up.

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