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Mike (The Progressive Revolution) Lux writes at OpenLeft that "the parallels between now and our biggest economic crisis of the past, the Great Depression, are remarkable:"

In both cases, conservatives had been in power for a while and had radically de-regulated the financial sector, lowered taxes dramatically for the wealthy, pushed down wages and incomes for working class and poor people, and done little investment in infrastructure, education or technology. As a result, the economic health of the country was based more and more on speculative bubbles rather than the solid foundation of a prosperous and expanding middle class, and those speculative bubbles crashed, sending America into a massive financial crisis.

Common sense would suggest that conservatives, seeing that their grand free market theories had led to this disaster would admit that what they had been doing hadn't worked. But common sense has never been a strong feature of conservative thinking; it wasn't back in the 1930's and it isn't today.


The American people voted for change at both the Congressional and Presidential levels, but change always threatens the conservative status quo and the entrenched powers, the landed gentry and their media enablers. Although their system has failed yet again by leading us into the current crises, they yelp loudly that we must not tinker with its structure, we must not correct its shortcomings, and--above all--we must not want our government to be for the people as much as it is of and by them.

They are wrong.


Let's not let them forget it this time.

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This page contains a single entry by cognitivedissident published on February 6, 2009 4:09 PM.

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