Well, How Did I Get Here?

[akirlu]

For anyone interested in a smart (and to my mind, entirely plausible) account of what missteps (dating back to the Reagan administration) brought us to this ... no, I can't say low point, we're still plummeting ... extended crisis, how about that? ... in the US economy and financial sector, you could do a lot worse than reading Nobel laureate Joseph Stiglitz's piece in Vanity Fair: Capitalist Fools.

Meanwhile, the question was asked just a couple of days ago, whether Rod Blagojavich was merely stupid, or plain crazy. I'm now tempted to ask the same question of the Senate Republican caucus.

Comments

[orangemike.livejournal.com]

They believe that this is their God-given opportunity to break the unions in the auto industry, by dragging everything down to Tennessee (or better yet, Northern Marianas) wage levels. That's their real motivation: to do the rest of what couldn't be done in 1980.

[farmgirl1146.livejournal.com]

Is it treason to destroy the US economy?

[mjlayman.livejournal.com]

Yeah, time to get out my pro-union buttons.

[marykaykare.livejournal.com]

They are neither stupid nor crazy (well, ok, Coburn is both stupid *and* crazy). What they are is EVIL. No, I'm serious. Being willing to destroy the US economy and perhaps plunge the *entire world* into a depression for political power. What else can you call it?

MKK

[sethb.livejournal.com]

Are you referring to the Republicans or the Unions?

[akirlu.livejournal.com]

[*eyeroll*]

[marykaykare.livejournal.com]

Republicans.

MKK

[serendipoz.livejournal.com]

Bill Moyers did a show this evening live (I think) talking (and showing some clips from CNN) about how the management of reported on how they were spending their ($41 million?) The person reporting couldn't tell the senate committee where the money was going or who was getting it. When the senate complained about the bonuses and cash being paid to management he was shrugging his shoulders.

There was a short bit on how banks were keeping their loans and not using it to loan out. (What's more important the bank's bottom line or the available credit to companies?)

And at the end there was an interview which talked about the (ex)employee's sitdown at Republic Windows. Saying people outside the finance/company management were angry at the lack of respect and their treatment - and it would likely grow worse.

The UAW is evidently expressing some really negative reactions to some of the senators - especially those in states where their are currently auto plants.

Then of course there is Chicago, ...

*argh*

Joyce