What explains this trans-Atlantic paralysis in the face of an ongoing human and economic disaster? Politics is surely part of it — whatever they may say, Fed officials are clearly intimidated by warnings that any expansionary policy will be seen as coming to the rescue of President Obama. So, too, is a mentality that sees economic pain as somehow redeeming, a mentality that a British journalist once dubbed “sado-monetarism.”
Whatever the deep roots of this paralysis, it’s becoming increasingly clear that it will take utter catastrophe to get any real policy action that goes beyond bank bailouts. But don’t despair: at the rate things are going, especially in Europe, utter catastrophe may be just around the corner.from here
We are witnessing an opportunistic, global movement to gut pensions, health care programs, and destroy the very idea that the state has a role in keeping people from the brink—classic shock doctrine.
Redirect capital away from government services—first by convincing citizens that the government is ineffective and, or evil—to benefit the top 1% in the form of tax breaks for corporations and the wealthy—who by the way, don't mind paying for a bloated military industrial complex, but keeping granny out of poverty is a bridge too far.
BZRAAAP!...URRK*
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