The Fed Chairman wants a balanced budget, but not right now, the economy is “too fragile” to cut spending or increase taxes. The fact is the economy is not fragile, it’s dead thanks to his predecessor Alan Greenspan and his free market cronies. Nothing that has been proposed will resurrect it and everybody knows it.
It will take rolling back everything that has been done in the last 30 years of Reaganomics. The question is whether the remnants of the middle-class realize it while there is still time to do anything about it. The super rich are pulling out the stops to try to overwhelm the elections by out spending progressives 7 to 1.
It’s not a question of repaying the huge debts that have been run up but rather taking the money back. The super rich have engineered a massive wealth transfer exceeding even the level they reached in the last Great Depression that they caused. This was reversed under FDR and it can be done again but it will be much harder this time.
This time we can’t just re-open the factories but we must re-build from scratch with must industries completely gone. Rebuilding will be a painful experience but not doing it will ultimately be worse. It’s start over or accept living in a corporate feudal state where you are a human resource, a consumer, a unit of labor to be discarded when not needed.
www.prairie2.com
2 comments:
Let's make one thing clear: "the super rich are pulling out the stops to try to overwhelm the elections by out spending the" DEMOCRATS "7 to 1."
Only a fraction of Democrats, either the electorate or members of congress, include what could be even remotely described as "progressives."
John Puma
After Citizen united can anyone say this country is a democracy with a straight face. Supreme Court=The Corporate Court.
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