Live Nude Market Fundamentalism

Well, market fundamentalists have had to swallow some bitter pills.

  • Meltdown in the financial markets caused by unregulated speculation in subprime mortgages.
  • Executives of failed companies receiving multi-million dollar bailout packages while thousands of Americans have been thrown out of work with nothing for compensation.
  • Greenspan testifying before Congress that he was wrong about markets ability to regulate themselves.
  • Paul Krugman, mainstream liberal economist and harsh critic of the Bush Administration, wins the Nobel Prize for Economics.
  • The second recession during the Bush administration, only this time much more severe.

Paul Krugman points out that this should be a time when Obama rolls back the policies of market fundamentalism and greed, and implements progressive policies that at least attempt to obtain broader prosperity for all Americans.

As for McCain, he was so busy catering to the fractured interests of the once vaunted Conservative Coalition he had no chance to respond to the failures of market fundamentalism. Of course, he never once suspected that greed is not always good.

Published in: on November 7, 2008 at 10:12 am  Comments (1)  

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