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roachboy · 07-17-2011, 06:24 AM

The Busts Keep Getting Bigger: Why? by Paul Krugman and Robin Wells | The New York Review of Books

the main driver of this crisis of capitalism---it's proximate cause---was the real estate bubble/derivatives trade. the condition of possibility for that-->deregulation of the financial sector. the condition of possibility for that--->the neo-liberal delerium. this review provides a little history of that delerium and its consequence--->crisis after crisis in the banking sector triggered by greed and incompetence (these without exaggeration) followed by massive bailouts using taxpayer funds followed by....nothing. no re-regulation. no lessons learned. more of the same.

welcome to plutocracy.

there are problems, but the "debt ceiling" aint one of them.

07-17-2011, 06:24 AM	#24 (permalink)
roachboy Super Moderator Location: essex ma	The Busts Keep Getting Bigger: Why? by Paul Krugman and Robin Wells \| The New York Review of Books the main driver of this crisis of capitalism---it's proximate cause---was the real estate bubble/derivatives trade. the condition of possibility for that-->deregulation of the financial sector. the condition of possibility for that--->the neo-liberal delerium. this review provides a little history of that delerium and its consequence--->crisis after crisis in the banking sector triggered by greed and incompetence (these without exaggeration) followed by massive bailouts using taxpayer funds followed by....nothing. no re-regulation. no lessons learned. more of the same. welcome to plutocracy. there are problems, but the "debt ceiling" aint one of them. __________________ a gramophone its corrugated trumpet silver handle spinning dog. such faithfulness it hear it make you sick. -kamau brathwaite Last edited by roachboy; 07-17-2011 at 06:35 AM..