Tuesday, 18 March 2008

Shit Therapy

The US economy is suffering a "downturn", the government there has finally admitted.
But the wonders of US economic bullshit never ceases. It's purported to be the best, most logical, self-regulating scientific system humanity has ever known*, and yet we have US Treasury Secretary Hank Paulson saying he didn't believe investors saw the rescue of Bear Stearn as a bail-out.
So investors are idiots I take it? They must be.

I've been reading "Shock Therapy" by Naomi Klein, it's very good, and convincing; Free markets have nothing to do with free peoples, in essence. In fact in practice, free markets work best without free people. Repression and poverty seem to be the order of the day. Certainly not the best thing for all people, which is what one is supposed to believe, if one listens to the free market gurus.

This is Free Market economics: It's a fantastical, fascistic theory built on a massively stupid understanding of people and society. It has nothing to do with democracy, and everything to do with making capital easier to extract. Want to know why the divide between rich and poor has increased even while overall wealth has increased enourmously? Free Market policies; the "Washiton Consensus".

*as noted mental economist Milton Friedman would have said. Probably while proposing systems that would increase poverty, encourage torture and political repression across Latin America. An Evil, terrible, now thankfully dead, man. Were he not already dead, I've have him taken out and shot, but we'll have to make do instead with Jeffrey Sachs, if anyone knows where to find him. He was present at most of the economic daylight robbery events of the past 20 years, so search for the next one, there he'll be.

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