Thursday, September 02, 2010
The Great $12 Trillion Bank Robbery
Speaking about crony capitalism, it was Congressman Paul Ryan and the rest of the Republican-led majority of recent who pushed economic policies that deleveraged workers and eventually the U.S. economy into an imbalanced market.
Capital is like water. No matter the volume or the speed or size of expansion – it seeks its own level - always. The biggest untruth preached by GOPer's like Ryan and Club for Growthers is the false assumption that perpetual and rapid growth must be created to deny a zero sum environment. Ryan helped pull the stopper off capital drains like China, India, Mexico, tax shelters, tax cuts to the wealthy, Greenspan Fed policies, outsource incentives and deregulation just to name a few. They were opened up under the guise of free market expansion and investment but actually had the opposite effect – they quickly brought domestic growth to a standstill which eventually led to our suddenly new found level in our once stable and secure expanding zero-sum economic environment. But the major problem is that the level has dropped dramatically enough that many boats no longer float.
Enter the Bush Depression.
Posted by Lou Kaye at 2:08 AM