A Study In Contrasts

Watch this video and note the difference in the worldview between the witness and the presenter. The ruling class (and their lackeys) truly has no idea what the hell is going on in their own country and they really don't want to know. The old guy was put on to condemn the riots and when he wouldn't play along, he had to be shut down and fast.

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Ok I'll Bite

So, what are the Conservatives saying, that Denis Lebel has no chance of ever becoming leader of the Conservatives because of his separatist past? How about Maxime Bernier? Does that reasoning apply to him as well?

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Shorter Michael Spence

The policy elites, in the developed world, are seized with a deficit mania that crowds out the reality of an unemployment crisis. This mania threatens the world's people with years of needless pain.

Read it here and get ready because our government is full of people who think like John Ibbotson.

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Welcome To Armageddon

This going to get really, really bad. Worse than it has to, because the assholes who are running the world see debt as a bigger problem than unemployment (largely, because they live off rents rather than salaries). So, we will have more cuts to government spending, leading to more unemployment, leading to less tax revenues and therefore more debt, leading to more cuts, leading to more unemployment and on and on and on, until these motherfuckers (out of self preservation if nothing else) get a clue, or until there is a revolution. The common people are going to be put through hell so that the ruling class can be cushioned from its own folly. My money is on revolution.

Update: Krugman has coined a new phrase, the "Downgrade Doom Loop", to describe the situation we are in. That just about covers it I think.

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My Guess

When they find these idiots, they will be white teens from the suburbs. Make them scrub this filth from the walls and have them take classes in world religions and multiculturalism. Wankers.

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It Isn't That They Are Stupid Exactly

But Wall Streeters have been making so much money trading worthless pieces of shit back and forth to each other, over the last couple of decades, that they haven't a notion about how a real capitalist economy works. They saw what was going on in Washington over the last month as irrelevant to them. They are the masters of the universe after all and can't be expected to tune into the bullshit petty politics of the little people. Well, now they are being schooled in macroeconomics 101 and the shock they are feeling is real. Who knew that austerity during an economic downturn was bad medicine? The sad fact is, our masters haven't a fucking clue.

Update: And if you look at Europe's bankers, they make Wall Street seem Krugmanesque. We are well and truly boned.

Update: Speaking of Krugman, he weighs in with a piece about the root causes of this problem, namely delusion and the substitution of sincerely held beliefs for working economic models.

Updater: It's a Nobel pile on as Joseph Stigliz catalogues the insanity.

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Shades Of Mike Harris' Ontario

When people start to die of bad water, the government will, I am sure, take full responsibility. That's what Mike Harris did, right? Right?

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