Kevin Phillips' summary of why America is f**ked.....

[marmar]

"It’s also very true that the growth of finance has involved the growth of a debt and credit industry. And part of what finance has brought as it grows is that more and more people are in more and more debt, and the amount of debt that individuals have and that they have to service is increasingly a burden. And people get into debt to maintain either a living standard they can’t afford or one that’s been nurtured by consumerism and advertising to get people to spend money they don’t have. So you’ve got an element that the public is losing control of its own economic future when you have an economy that’s full of debt and credit industries, which are a mainstay of finance.

The implications of all of this for who controls what within the United States are huge, and that will be especially true if a lot of the debt we’ve built up starts imploding because of higher inflation and higher interest rates."


This is from an interview with Amy Goodman on Democracy Now!. Here's a link to the rest of it: http://www.democracynow.org/2008/5/6/bad_money_reckless_finance_failed_politics

[lostnotforgotten]

1. Its All By Design!

"You have to realize that what they’re trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They’re not trying to make the economy more equal, and they’re not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards, it’s the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite."

http://onlinejournal.com/artman/publish/article_3702.shtml

[Fovea]

3. Heyek was so wrong.

The conservative world view or economic life has brought us onto the reef again.

You want to see the free market at work, go buy opium in Afghanistan, or Cocaine in Columbia.

That is Amerika as envisioned by McSame/Palin as received from the School of Chicago.

[malaise]

4. Put simply Hayek and Friedman were representatives

of feudal values and structures and fundamentally anti-democratic.

I can die now - I have been vindicated - that was the conclusion of my graduate school paper.

[bronxiteforever]

2. Thank you for the Link!! Listening to it now-Great and scary