Thursday, January 28, 2010
The Problem With the Economy
We experimented with replacing government regulation with insurance and derivatives to create a sustainable and secure economy. It started in 1980 with Ronald Regan, and ever since then the economy has been fraught with turmoil, up and down like a manic depressive 1950's housewife. This latest crash proves, beyond all doubt, that derivatives do not secure risk, but only secure profits. It is time to bring back the Roosevelt regulations and remember that the Republicans are the banks' booty call, not populists defending the people. If we cannot be excited about Democrats, because they are all moderates, we can at least agree to be excited about marginalizing the Republicans, and none of their desperation should be considered anything more than tantrums intended to defend Wall Street, or at least the corporations that make most of their profits being traded on Wall Street.
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