posted on Mar, 30 2009 @ 11:13 AM
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the
International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes
emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what
it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are
to prevent a true depression, we’re running out of time.
Here, very clearly, we're shown how the financial markets and banker oligarchs have taken over the US.
I've been wondering if there IS any way out of this, at least, a way that doesn't have a high cost. Here, they talk of two likely paths we'll
One, keep bailing out things, over and over until we patch things together. It won't solve the problems, it won't remove the Oligarchs, and, in the
end, it would just allow us to muddle through amid years of confusion.
Two: Things will keep detoriating and the eastern block nations economies and banks will collapse. This will ripple outwards to western banks and only
then will we be forced to rethink our systems and those who run them.
Either way, it sounds pretty doom and gloom to me. I'm starting to wonder if we'll look back on the 80s and 90s as our grandparents did the 20s and
30s, but in a polar opposite way. As they told us of the almost unbelievable horrors of the depression, we shall be able to tell our grandchildren of
the wonderful times, where everyone had more than they needed and we'll be lucky if they believe us. It's the end of an era.
It's a long read, but very worth it.