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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: jlallen who wrote (158690)4/22/2009 2:47:03 PM
From: Kevin Rose  Read Replies (2) of 173976
 
Boy, Denial must be a wonderful place to live. Always sunny, never rains, eh?

This latest panic was not a 'normal' part of the modern post-depression business cycle. It harkened back to the old days of unregulated predatory trusts who operated under the shield of corrupt political administrations. It was nutured and then precipitated by 'free market' economic policies championed for years by 'pro business' conservatives. The small print was that 'pro business' is in most cases 'anti consumer', as corporations prove over and over that they will act in their own short term self interest with little regard for the long term.

It took a huge unprecedented influx of capital and guarantees to stem a panic that could have seen a return to what 'pro business' advocates call 'the good old free market days', where the business cycle DID include large scale panics, 30+% unemployement, unimaginable bank runs and failures, widespread lose of the life savings of ordinary individuals, and the further fattening of the trusts.

A bitter pill to swallow, but better than the alternative. Now that the political forces that ushered this disaster into our family rooms have been swept away, the rebuilding can begin. But we must never return to the political and economic policies of the 'pro business / anti consumer' conservatives who got us into this mess.

After all, a country is only alloted a precious few FDRs to save them...
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