In other words, the ship has since collided headlong into the iceberg, is taking on water, and instead of deciding how quickly we should be bailing out water or what size buckets to hand out, policymakers are either suggesting we open up the hull to take on additional water, or that we just wait to see if the water will find its own way out of the boat. We are years away from recovering from the financial crisis, but all the supply side fuckwads in Washington are still convinced that we are just a few months, maybe a year away from the Invisible Hand pulling us all up by our bootstraps.
Spoiler alert: we are not going to get out of this by traditional means. Desperate times call for desperate measures (and no, not desperate austerity measures). The private sector can't do it on its own, government can't do it on its own, and funneling free money to corporations, plutocrats, and banksters has not and will not work.
I would suggest that perhaps we give some free money to households, you know, since they have none and the Fed found it within itself to be able to dole out $1.2 trillion to the banksters, but then we would need to clutch our pearls about moral hazard and not rewarding unscrupulous folks. Also too, socialism, and that's now how we've done it before here in the freedom loving real American United States, and it would never work.
No comments:
Post a Comment