It truly is a matter of bail the banks and screw the people. What remains to be seen is how those people will react. All the more so when they find out that those same Wall Street banks will soon come calling again for more bailouts, which is now inevitable and guaranteed to happen. Our fine leaders may try to find a creative way to do it, one that won't attract too much attention, but you can bet there’ll be more taxpayer money flowing to Lower Manhattan, while for "ordinary" citizens services will be cut, taxes raised, and jobs disappeared.
in the time remaining, to help us understand how the man-made system of capitalism will lead to the extinction of our human species, and so many others.
Friday, July 2, 2010
The End of the Age of Credit
from The Automatic Earth. The author reports on the continuing ruling class strategy to bail out the banking industry's bad debts while appearing to legislate curbs on their reckless behavior and actually cutting public services and safety nets.