Why they do the greatest damage:
Progressive programs created the aspect of life we most enjoy and value as a people. They have proven to be spectacular successes. The people pushing austerity are the same people that hate progressive policies because their success falsifies their anti-government dogma. The austerian economists were the architects of the global financial crisis, the great depression of the European periphery, and the assault on the needy. They have proven wrong about every important issue. When moderates and progressives adopt the suicidal austerian policies of these architects of disaster they become the most destructive members of the austerian movement.
What we have in America today is a war between the two main factions of Capitalism. Fredrich Hayek, 1899-1992, (Milton Friedman and the Chicago School of Economics) represents the thinking of the Republicans (1%). John Maynard Keynes, 1883-1946, represents the thinking of the Democrats. This battle was bound to take place sooner or later. Because Capitalism, as an economic system, is on its last legs. Capitalism no longer works and neither the dogma of Hayek or of Keynes can save it. But, the silly Capitalists and their bought and paid for politicians will try their best to do just that. They will lose.
Yes, just like liberal humanitarian interventionists do more damage – they normalise military solutions over any other type of solutions. I remember Bill Maher and Rachel Maddow laughing and crowing that Obama took out Ghaddafi with only 1 billion $ while Bush got Saddam for a hefty 1 trillion $. Maddow and Maher seemed bloodthirsty to me.
Thanks for that link. William Black rocks. Should probably bookmark his website.
Wondered if you had seen this? Kind of related to your post here. Link path that led me to it began at Sideshow, went to Corrente, then to Anglachel and finally to Salon, fwiw.
http://www.salon.com/2009/08/25/labor_5/
This has remained on my mind since I read it. It fits perfectly with what I have observed among the well-heeled progressives I know IRL. Best of all, it seems like one of those constructive framing adjustments that implicitly show the way out of the problem.