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Paul Krugman has proposed a neologism: Geloiocracy which he defines as “rule by the ridiculous”. He specifically complains about the Wall Street whiners and Congresscritters who insist that their staffs read Ayn Rand.

Digby also reacts to a discussion of the Wall Street whiners on Countdown. She sees it as ploy by the White House and Wall Street to make people believe that Obama has done something about the financial industry, when it is obvious that this White House covered Wall Streets gambling debts and let them return to the casino.

It would be one thing if this was a sit-com, but the reality that these “children” are destroying the economy of the United States makes it a tragedy for millions of people. As long as the people in charge of the country refuse to look at and accept the hard facts, rather than relying on their belief in fairy tales, like Atlas Shrugged and Reaganomics, we will not recover.

December 30, 2010   14 Comments