This is form this American Life about what is going on with the economy.
Wow.
It’s refreshing to hear an explanation that’s not an ideological rant, even if that explanation is pretty scary.
Makes a pretty strong argument for full-on temporary nationalization.
And a very strong argument against “just letting them fail.”
And before all the right-wingers rant about that, actually listen to the damned thing!
I say we need to do one of two things
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Let them fail. (My favorite.)
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Nationalize them.
This in between bullshit ain’t working.
As simple as they try to make it, the average American still won’t get it.
Also, the Repubs will dismiss this outright since it is a NPR story and therefore they assume the story must have a liberal slant.
My favorite people are the ones who say it’s not that bad and it’s the medias fault.
The single worst thing that will happen is no matter what the parties will blame each other to the point where they will see their own side as faultless. No matter if it’s good or bad MattinSF and Big Kahuna will make their party the saviors and the others the demons. Nothing will be learned and history will be repeated.
This in between bullshit ain’t working.
What does “working mean?”
Does it mean minimization of the unemployment rate?
Does it mean maximizing growth of the economy?
Does it mean minimizing taxpayer burden, regardless of the economic consequences?
Does it mean allowing poetic justice (getting to watch those who caused the problem fail), regardless of the economic consequences? Even if it takes down the entire global economy for 15 years?
I think the point of the show was, you can’t have them all. You have to pick one. Maybe two.
It’s not working because it’s not doing any of those things well. I agree you gotta pick and choose and there is no good answer but the government wants us to think we can do it all with out a lot of pain and that is just wrong. We had people laid off on this site act like it was nothing. They went Zen and didn’t worry about it. Some of us don’t have that option to be all cool with unemployment and that attitude is not good for what is coming down. People need to wake up and get ready.
I have thought about it and say the following with a clean mind and light heart.
Socialize the banks.