After years of preaching about the mythical “free market” and saying that governments should have less of a role in our lives (usually when it comes to reducing benefits to the poor; military spending is quite all right, isn’t it?), the global banking system is part nationalized. Things must really be bad to resort to State Capitalism. It’s game over, people. Now, since our taxes are being used to pay for these bank bail-outs, do you think we get some say in the running of things?
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7 responses so far ↓
1 Part-time Punk // Oct 11, 2008 at 6:09 pm
Some fool on Radio 4 early was attempting to argue that the current government interventions were actually ’stopping the market from correcting itself’. I’d have laughed if said fool wasn’t working in the City; shame the presenter didn’t grill him on such blind optimism.
2 Mark C Newton // Oct 11, 2008 at 6:17 pm
My big fear is that governments will use this crisis to push through alarming policies that will cripple people, labour conditions etc., in the name of “doing the right thing for the economy”. It’s well-known that Friedman’s Capitalism model craves crises to drive through extreme policies…
3 Part-time Punk // Oct 12, 2008 at 8:03 pm
I’m hoping that such ’shock doctrine’ behaviour is on the way out with Bush and company. Still, never hurts to be vigilant…
4 Mark C Newton // Oct 12, 2008 at 8:06 pm
Oh, I doubt it - this has been going on from Reagan’s era, through Bush I, all the way to Bush II. It went on under Thatcher, too, with the Falklands war and the war against the unions…
5 Tim Akers // Oct 13, 2008 at 2:03 pm
Just a note on the whole economic apocalypse from stateside. A noted commentator said that if we’re not careful, this downturn could lead to people spending less and saving more. So yeah. We gotta be careful of that.
6 Mark C Newton // Oct 13, 2008 at 4:21 pm
I suppose to those commentators who are so disconnected from real life, it makes sense to stimulate the economy that way… but really, this is the problem of the current system - that disconnect. It’s all right breaching the numbers, it’s just these damn *people* that get in the way to mess things up. People like you, Tim. You should be ashamed of yourself for saving money at a time like this.
7 Tim Akers // Oct 14, 2008 at 1:39 pm
I do this because I hate America, and our Freedoms. Our completely unique American Freedoms.
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