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i think the name to recall here is ronald reagan.
but without stuff done by the nixon administration, there'd have been no ronald reagan, structurally speaking. internationalization of stock, going off bretton woods---big deals.
ideologically, it is strange that debt is a problem--back when the keynesians were dominant and capitalism relatively functional (comparatively speaking--fordism anyone?) debt was not an issue--the system was about movement and the state was a motor. it is an index of the slide into neoliberalism that state debt has been reframed entirely, shifted as to meaning.
another great depression?
probably not.
a mutation in capitalism, definitely.
the endgame for the neoliberals? if we are all lucky, they will begin the process of creeping back under the herbert hoover rock whence they came.
end of the american empire? the opening rounds.
recession?
probably.
__________________
a gramophone its corrugated trumpet silver handle
spinning dog. such faithfulness it hear
it make you sick.
-kamau brathwaite
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