Actually, I’d say it’s already happened here. Taxpayers bailing out banks to the tune of billions of dollars isn’t that different from just cutting out the middle man and taking it directly from your pocket, or bank account in this case. Anything, absolutely anything, other than making the fucking crooks pay for their gambling themselves.
um, no. it can’t happen here. what happened in cyprus is really unusual and only happened because of a bunch of stuff that does not apply to the u.s.
-the u.s. does not have a small indigenous banking system with deposits dominated by russian gangsters using them as offshore accounts.
-the u.s. controls its own monetary policy. it’s not controlled by a central bank in a foreign country.
-the american monetary union is also a political union (unlike the EU), and the civil war established that exit is not an option for members of the union.
My problem w/Richard is that he seems to think that the elites have made a mistake. I think they know exactly what they are doing, and they’re not going to stop until we, the people, stop them. We no longer have representative government. If we did, we’d have a jobs program and economic policies that benefit everyone, not just the elite.
Valuable posting. Read it!
I’m guessing that the 99% should gently start taking their run on the banks right now. Why wait until the last second, when they freeze all assets?
Funny that the phrase that runs through his article is “It Can’t Happen Here,” the title of the Sinclair Lewis novel.
http://en.wikipedia.org/wiki/It_Can't_Happen_Here
Actually, I’d say it’s already happened here. Taxpayers bailing out banks to the tune of billions of dollars isn’t that different from just cutting out the middle man and taking it directly from your pocket, or bank account in this case. Anything, absolutely anything, other than making the fucking crooks pay for their gambling themselves.
um, no. it can’t happen here. what happened in cyprus is really unusual and only happened because of a bunch of stuff that does not apply to the u.s.
i mean, krugman summed it up best. but unlike cyprus:
-the u.s. does not have a small indigenous banking system with deposits dominated by russian gangsters using them as offshore accounts.
-the u.s. controls its own monetary policy. it’s not controlled by a central bank in a foreign country.
-the american monetary union is also a political union (unlike the EU), and the civil war established that exit is not an option for members of the union.
My problem w/Richard is that he seems to think that the elites have made a mistake. I think they know exactly what they are doing, and they’re not going to stop until we, the people, stop them. We no longer have representative government. If we did, we’d have a jobs program and economic policies that benefit everyone, not just the elite.