Ordinary Workers Would Be Fired in a Second If They Screwed Up Anywhere Nearly As Bad As The Bankers

[Donnachaidh]

http://www.truthout.org/ordinary-workers-would-be-fired-a-second-if-they-screwed-up-anywhere-nearly-bad-bankers-have59992


Ordinary Workers Would Be Fired in a Second If They Screwed Up Anywhere Nearly As Bad As The Bankers Have

There has been little change in personnel and no acknowledgment of error at the central banks whose incompetence was responsible for the crisis.

The world is suffering from the worst downturn since the Great Depression. The crisis has left tens of millions unemployed in the U.S., Europe, and elsewhere. The huge baby boomer generation in the United States, now on the edge of retirement, has seen much of its wealth destroyed with the collapse of the housing bubble.

It would be difficult to imagine a worse economic disaster. Prior periods of bad performance, like the inflation ridden seventies, look like mild flurries compared to the blizzard of bad economic news in which we are now enmeshed.

None of this is new. People don't need economists to tell them that times are bad. However, what the public may not recognize is that the same people who caused this disaster are still calling the shots. Specifically, there has been little change in personnel and no acknowledgment of error at the central banks whose incompetence was responsible for the crisis.

Remarkably, this crew of incompetents is still claiming papal infallibility, warning governments and the general public that bad things will happen if they are subjected to more oversight. Instead, the central bankers and their accomplices at the IMF are dictating policies to democratically elected governments. Their agenda seems to be the same everywhere, cut back retirement benefits, reduce public support for health care, weaken unions and make ordinary workers take pay cuts.

MORE at the link above --

[flor-de-jasmim]

1. And the "No one could have predicted" excuse doesn't pass muster, either.

[madrchsod]

2. they are different from you and i....