28
Nov
10

The Real Reason Our Economic Prospects Are Hopeless

It is remarkable that all serious people agree that the best way to deal with struggling economies is to plunge them as deeply into recession as possible and steal money from poor people to cover the bad debts of billionaires.

Duncan Black (aka ‘Atrios’) via Eschaton, in response to the EU bailout of Ireland’s banks.  Apparently, they haven’t been paying attention to how well bailouts worked over here–or maybe they have.  Highest level of unemployment, foreclosure and poverty since the Depression for us regular folks, but the financial sector and corporate America are posting record profits. Maybe the bailouts are indeed working as intended…

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