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May 23, 2011

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Starting with Reagan, but continuing all the way to the Obama administration, the government has been cutting taxes and decreasing regulations while borrowing money and increasing spending. All of these provide a short term economic boost, but can have devastating effects in the future. Like an addict seeking the high, business and voters have been chasing it for years.

It is clearly not a viable long-term economic model, but perhaps we are, like the junkie, doomed to hit rock-bottom before realizing this.

Have you read Naomi Klein's "The Shock Doctrine?"

I have Shock Doctrine on my Kindle but have read only a little because it depresses me. Of course so does reading Paul Krugman and Glenn Greenwald and about 20 other writers. I need to read it.

Are we doomed to hit rock bottom before we wake up? I thought after 8 years of the Bush Administration we had hit rock bottom, but it appears the right is just getting serious about impoverishing the entire middle class.

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