Comments on: Like We Said

By: Bryan

Bryan — Wed, 28 Mar 2012 03:06:46 +0000

Iceland is the only example of a nation’s government acting in the best interests of their people, Jill. Everyone else is bailing out the professional gamblers in the financial sector.

Ireland’s government had absolutely no need to cover the losses of the private Irish banks. The people who made the money during ‘the good times’ should have sustained the losses when reality asserted itself. Bankruptcy and criminal prosecutions are the best way of dealing with these problems, a way that ensures it will be a long time before they recur.

Yes, Badtux, we both know who benefits from Austerity, and it isn’t people or countries.

By: Badtux

Badtux — Tue, 27 Mar 2012 13:59:34 +0000

Now now, people. The economic plans of the Austerians work exactly the way they're designed to work -- they result in the looting of the wealth of nations for the benefit of a crony elite. What, you thought the stated goals of the Austerians were the true goals of the Austerians? Bwahaha!

By: cookie jill

cookie jill — Tue, 27 Mar 2012 08:10:40 +0000

I think some of the saddest headlines I have read in the past year are about the horses in Ireland being let loose to fend for themselves due to their owners financial dire straights. Ireland has more horses per capita than almost all other countries and these horses end up starving or freezing to death alongside the roads.

Goldman Sachs and their “austerity pimping” ilk are truly evil.

By: Bryan

Bryan — Sun, 25 Mar 2012 02:30:00 +0000

Too many ‘professionals’ have signed on with the ‘new paradigm in economics’ which is going to explain everything, and relegated all of the hard-won knowledge of the Depression to ‘history’. The concept is that business has changed, so none of that ‘ancient wisdom’ is valid in the ‘new economy’.

Of course, no one bothered to tell the economy that it was working in an entirely different way, so it continues to do exactly what it did before.

It is something like Suvorov’s view of elaborate plans for battles – plans only really work if both sides know what the plan is, and they agree to follow it.

By: Steve Bates

Steve Bates — Sat, 24 Mar 2012 04:41:23 +0000

“two consecutive quarters of economic contraction.”

I don’t know what the international economic community is birthing, but I can see that the contractions are coming more frequently with time…

In “social studies” in high school, in the section on economics, I was reassured to be taught that we learned some things from the Great Depression that meant we would never have to go through one of those again.

In college, in literally Econ 101, I learned some of the particulars of the approach that would guarantee we wouldn’t have another Great Depression.

In old age, I am learning that a lot of allegedly bright people seem to have forgotten what they presumably learned in high school and college about preventing depressions. Or maybe they remember just fine, but they’ve got theirs, and to hell with the rest of us…