by Richard Wolff
http://www.guardian.co.uk/commentisfree/cifamerica/2012/feb/09/bailout-main-street-america
[excerpted] "In reality, a $25bn mortgage deal with banks is a drop in the ocean – given US homeowners' $700bn of negative equity...
[excerpted] "In reality, a $25bn mortgage deal with banks is a drop in the ocean – given US homeowners' $700bn of negative equity...
...It turns out that bailouts for the top of the economic pyramid, which
never trickle down, leave an economically depressed mass at the bottom.
Governments that also try to pay for trickle-down policies by imposing
"austerity programs" on the bottom only make matters worse. Sustained
depression at the bottom eventually threatens the top: first
economically and then also politically...."
read the entire article linked above
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.