Saturday, December 12, 2009

Plutocrats Love Recessions

Paul Krugman said yesterday that we can expect double digit unemployment rates for probably the next 3 years. The Obama stimulus package was too small, and Congress is packed with people convinced that it's 1993 and that we desperately need to trim the Federal Budget (where were they 6 years ago when we decided to drop Freedom Bombs on Iraq and give away the public Treasury to the top 1%; and when they wrote blank checks for both?). Washington probably won't budge until the official unemployment rate edges above 20% and Wal-Marts start burning in food riots.

Our owners love recessions. They are a great excuse to "cull the herd," pay people dirt, and treat them like shit. Recessions remind us all who really runs the show; and it ain't the voters, those fat ignorant peasants.


June Butler said...

You sound a little bitter, m'dear. Whatever would make you feel that way?

I respect Krugman, but I truly hope he's wrong about the depth and length of the recession.

Counterlight said...

Just more than a little frustrated with the combination of inertia and detachment on the part of our ruling and governing classes.

Michael and I both have been dealing with the machinations of banks and insurance companies the past few months. The only difference between them and the hoodlums who mug people is an MBA degree.

I'm beginning to think the Obama administration may be the Carter administration all over again.

I must admit to being more than a little frustrated with my fellow citizens who seem happy to trade in the Social Contract for lottery tickets.