Tuesday, September 8, 2009
Galbraith: "The Strategy …That You Would Sustain The Banking System In Order That It Would Resume Lending — Hasn't Worked, And It Isn't Going To Work"
Economist James Galbraith told McClatchy:
The strategy that was stated at the beginning of the year — which is that you would sustain the banking system in order that it would resume lending — hasn't worked, and it isn't going to work."
Galbraith is confirming what many of us have been writing for a year. See this and this.
2 comments:
→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).
→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).
→ The following types of comments will be deleted if we happen to see them:
-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over
-- Comments that explicitly call for violence
→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.
Posts
Appalling lies of "trickle down economics". Save the banksters and the banksters will save you!! Liars. The banksters make their living out of skinning the people alive. They've saved themselves... and we've been skinned alive by the Government for the banksters by these bailouts. Government and banksters are parasites: taxes and interest - profit for doing NOTHING!! while we do ALL THE WORK or RUN THE BUSINESSES that generate real profit.
ReplyDeleteThe parasite govt fed the parasite banksters the host people.
Someone's is going to get hung here eventually.
True; creating more debt for the American public IS NOT the answer. We're collectively $70 TRILLION in debt; the harder we work the more debt we get in this slanted monetary system invented by Robber Baron bankers. When a critical mass of Americans recognize the stucture of creating money and its mirror-image of bank created credit, we'll reject this fraud. But not sooner. "Monetary reform" is the general name to ending this debt-based monetary system and regenerating the system for the people: money created directly for the payment of public goods and services. We would save a trillion every year by doing so; click on my name to find the article where I walk economics students (of all ages) through the engineering of our current monetary structure and how monetary reform elegantly solves this crisis.
ReplyDelete