The Buried Truth

[SHRED]

Found this in the comments section of a year-old article over at Common Dreams:

The economic mess we are in is a result of bi-partisanship support for deregulation of banking, transportation, energy, support for NAFTA and globalization policies and outsourcing of industries. Both parties supported the repeal of Glass-Steagal act and turned a blind eye to the buildup of toxic bubbles of speculative financial instruments. Both parties have supported the HMO for profit law in healthcare. Both parties rely on the outdated and foolish economic criteria mentioned in this article as to how the judge the health of an economy. Both parties believe that growth in financial markets (due to hedge funds-derivatives etc.) are an indicator of wealth despite the fact that our nations steel mills, factories and farms have been dismantled.
Both parties are so dimwitted as to think that wealth is a gigantic bubble of electronic paper as opposed to an economy that is based on the production of the physical goods and infrastructure that are necessary for human life.
We used to be the worlds leading producet nation in goods, technology, research and science and over the past 30-40 years we dismantled everything we built up in the post war period to become an imperial parasite on the global stage importing what we once produced from underdeveloped nations and charged it on a credit card.

ivymaureen September 13th, 2009 9:33 am


http://www.commondreams.org/view/2009/09/13

[maryf]

1. Bi-partisan support for capitalism...

in a nutshell. Time to switch gears, the crises will just keep happening...

[dixiegrrrrl]

2. I am still having a hard time believing this is being done out of "stupidity"

Unless the definition of stupidity is "greed".

But it is no coincidence that other countries, esp. in So. American, Eastern Europe, have been hollowed out via the same mechanisms over the last 40 years. Financial fraud, corruption, destruction of middle class, each time.

No, there is a method to this madness.
Now that WE are the target, we are noticing.

[maryf]

3. About time ya think? nt