Very interesting reader response to Krugman article. Ya'll should read this.

[chaska]

Here's the article: http://economistsview.typepad.com/economistsview/2006/10/paul_krugman_bu.html

Here's the response:

Of course, everyone in Washington already knew that doomsday was approaching. That's the way the system was designed from the very beginning. It's all part of the madcap scheme to "starve the beast" and transfer the nation's wealth to a handful of western plutocrats. That's explains why the Fed and the White House whirred along like two spokes on the same wheel; every policy calculated to thrust the country headlong toward disaster.

The administration never created a funding mechanism for the $400 million tax cuts or for the 35% expansion of the Federal government.

Defense spending increased by leaps and bounds as did the "no-bid" contracts for friends of the Bush clan. At the same time, interest rates were lowered to rock-bottom to put as much money as possible into the hands of people who couldn't meet the traditional criteria for a mortgage. And, if gluttonous waste, reckless overspending and "Mickey Mouse" loans were not enough; the Fed capped it off by doubling the money supply in 7 years; a surefire prescription for hyper-inflation.

So, which one of these policies was not deliberate?

The financial crisis that we now face was created by design. It is intended to destroy the labor movement, crush the middle class, quash Medicare, Medicaid and Social Security, reduce our foreign debt by 50 or 60%, force a restructuring of America's debt, privatize all public assets and resources, and create a new regime of austerity measures which will divert more wealth to the banking and corporate establishments.

The avatars of neoliberalism invariably use crooked politicians to spawn enormous "unsustainable" debt so that the nations' riches can be transferred to ruling elites. It works the same everywhere. It's a form of corporate colonization, only this time the victim is the good old USA.

[QuestionAll...]

1. this is what I have been thinking for years now.

but couldn't put it in quite that articulate way the response has.

The WH and it's crew of corporate masters are not 'incompetent'. They know exactly what the end game is to be.

[applegrove]

6. It may be something as simple as not wanting any $ left over for Dems

to build national health care. Because that is an "entitlement program" that works and really brings people to respect government programs and brings them together (rich, middle class & poor). If all people share..then how could the Repukes keep up with their draconian policies that require slicing and dicing of the populace? For sure the Dem President will be left with an economy in a mess. Cause a Dem President would never sell of assets (like taxes or social security) by dumping all that money in the stock market. But the GOP will continue to do that. In hopes of building a class that is all stock market all the time.

It is a dystopian view that AMerican can only survive the future if it has a distribution of income that mirrors Mexico (they are already there) or perhaps the old Venezuela.

[bobbieinok]

9. this is what republicans did under Reagan

The goal was to leave little $$ for any social justice program that would benefit the non-wealthy.

[applegrove]

13. Or any program that would bind the whole country together..as health

care does in Canada. Get rid of any hope of any program that works and shows that at times..government programs can be more efficient (not to mention equitable) than anything private that can be patched together.

Public schools are another thing they fight against. Cause it too binds tax-payers to their locality and works to improve the productivity and wealth of all.

[tk2kewl]

2. Very well said.

I have been trying to get this through my friends heads for years now. I definitely should email this one around.

[thingfisher]

4. It always seemed

obvious to me that these kinds of policies were implemented for the purpose of destruction. I just can't buy the idea that these brilliant minds are susceptible to gross incompetence when they are handed the reigns of control!

[DoYouEverWonder]

10. All of this is part of their plan

to bankrupt the USA and stuff their friends pockets with our money.

Hasn't anyone noticed that the only way the Bush boys make money is by bankrupting businesses.

It's been their MO for years.

[elehhhhna]

12. DING DING YOU WIN

[Skink]

3. You mean it's been done before?

[SmokingJacket]

5. That was written by Mike Whitney.

http://www.smirkingchimp.com/node/2451/print

I don't know if the commentor IS Whitney or is quoting him without credit, but he deserves credit.

[chaska]

7. Wow, I have good taste ... apparently.

Did not know this. Thanks.

[sinkingfeeling]

8. Too bad that the reader plagiarized the response....Author was Mike Whitney.

"The Dollar's Full System Meltdown" on this link:

http://www.opednews.com/articles/opedne_mike_whi_061030_the_dollar_s_full_sy.htm

The reader's response is about half way down.

[BlueEyedSon]

11. Yeah, that sounds like what is going on