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Austerity: Another "Policy Mistake" Again

US Politics & Gov't  (tags: Richard D. Wolff, austerity, policy mistake, capitalist system, Washington, banks, financial crises, punish borrowers, bail out lenders, roots of problem )

- 1868 days ago -
Capitalism prescribes the same policy mistakes over and over again - austerity, punishment for debtors (unless they are financial institutions), labor cost cutting - that exacerbate its inevitable crises. When will we attack the structural roots of crisis

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Beverly T (82)
Saturday March 9, 2013, 8:42 am
All this is indeed a vicious, cruel, and just plain STUPID circle.
Ah there ya go, Richard said with much more clarity what I have always do companies think they will make a profit if the MAJORITY of the people have NO MONEY TO SPEND !!!!! How can we even begin to reduce "entitlements" when more and MORE of We the People NEED those entitlements to survive ?
Or maybe we should just have them openly declare a fuedal system. Get it over with. The fight for who would be King would be far more entertaining than a Presidential campaign. After all, who wants to be puppet when they could truly rule. At least it would end the FARCE of where the people truly stand in the eyes of the HAVES.
Until then...
A rising tide does lift ALL boats but they ignore the fact that it

Judy C (97)
Saturday March 9, 2013, 4:07 pm
I definitely agree, Beverly. Every time one of these right-wingers talk about "entitlements", I just want to slap them. They should call corporate welfare entitlements. The fat cats are the ones who clearly act like they are entitled. I kind of like your feudal system and King idea LOL.
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