. . . this recession is not a mistake, not an error, nor a failure, not incompetence, not even complicated in motives or intent.
It is a plan, a project, an ideology.
I am getting very tired of "liberal" economists and pundits acting befuddled over why the PTB don't do X or do y;why the Fed won't loosen;why Congress won't enact fiscal stimulus; why Obama won't push mortgage cramdowns or why there was no public option or why Pete Peterson has such influence.
They know what they are doing and they are doing it very well indeed. I really don't see how they can be stopped, short of social unrest.
The gradually spreading recognition that the people, who run the country under the Democratic Party are pretty much the same people, who run the country under the Republican Party -- that we traded an Administration dominated by Big Oil and sympathetic to Big Finance for an Administration dominated by Big Finance and sympathetic to Big Oil -- will have an unexpected effects.
Exactly right.
ReplyDeleteI've recently attempted to pull back the blinders that Krugman is wearing by strategically commenting on his blog.
Among the biggest problems that we face is that earnest intellectuals like Krugman seem to believe that their counterparties in a debate are equally as earnest, when in fact, they're not, which means they cannot be convinced or moved from their position. But the entire point of posing spurious arguments is to prevent action. It is easy to paralyze intellectuals of all political stripes by simply making a counter-argument, regardless of how inane it is.
People like Krugman, Baker and Bartlett need to take a page out of the books of people like Michael Hudson, Pat Choate and Paul Craig Roberts and start calling BS. The time for debate and/or polite attempts to nudge alternative action is long past.