The Awful Economic Truth



The cultural values that influence the thinking of the leading elected officials and candidates of the GOP are a part of a model political economy developed by a European-born nihilistic thinker who ignored the contradictions inherent in her logic or the evidence that disproved it.

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Workers have not heard a single word about jobs, except they will be re-imported from China. The continued global massing of capital, including the Argentine bond settlement now in place, is ignored–as are the extremes of Greece (failing) and Rwanda (successful), or the corruption undermining Brasil.

The economic support that sustains terrorism is ignored for cries of war to feed the military-industrial complex, which against stateless groups makes us no more safe.

Romney ran for American president but kept his money off-shore. Senator Sanders thinks social benefits can be made free. Sec. Clinton uses trade agreements as convenient scapegoats.

Not only at home, the awful economic truth is global coherence is lacking about main economic issues, including sovereignty, wealth redistribution, social costs (health, education, infrastructure), borrowing (which aids economic growth!), and structural problems like deflation and liquidity traps.

Despite Ayn Rand, the rich act collectively through their representatives and follow Charlie Wilson’s sentiment, “what was good for the country was good for General Motors.” Including the bailout!

In some aspects (record profits vs. wages), the richer we are the worst off we are.

Crazy About Money – The New York Times


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