WillyTex wrote: > Bhairitu: > >> This would have gone much easier if the bailouts >> to the rich weren't passed back in September 2008. >> >> > So, you're thinking that the goverment financial > bailout brought on the 'Third Depression'? > > You are not even making any sense. > > Apparently you have not been keeping up with the > arguments at the G20 Summit! Go figure. > > "...governments are obsessing about inflation when > the real threat is deflation, preaching the need > for belt-tightening when the real problem is > inadequate spending." - Paul Krugman > > 'Krugman: The Third Depression' > New York Times, June 28, 2010 > http://tinyurl.com/24u7tco
Who's not making any sense? First off you apparently didn't notice I linked to that article. My bottom line on that article was this: "And who will pay the price for this triumph of orthodoxy? The answer is, tens of millions of unemployed workers, many of whom will go jobless for years, and some of whom will never work again." Point is that things are about to go REALLY bad. This was also predicted in the documentary "Collapse" which I recommended the other day and have been saying here for several years. What I'm saying is probably the worst would have passed by now if we didn't bail out the banksters back in September 2008. Yes you would have had a financial collapse but it would have taken out the wealthy back then. And two years ago fewer middle class folks would have been impacted. I maintain the rich knew there was no way out of this mess so started to demand they get their money in September 2008. I got that from the horse's mouth sitting a few feet away from my Congressman who was at Starbucks the week after they passed the bailout. That was probably the last time he ever was seen at such a place as after that he started holding online town hall meetings or RSVP ones. At one time his meetings might have consisted of about 40 folks at City Hall, something easy to drop in on. And no I don't agree with Krugman 100%. He is speaking in terms of an economic model that doesn't seem to work anymore. I think it is time to start looking at alternative more modern economic models. Maybe something based on what is happening in open source software extended to the rest of society.
