Joseph Stiglitz i The Guardian:
We are told the patient needs a massive transfusion; but everyone can see that the patient is suffering from internal bleeding – in California, the number of foreclosures may already be outpacing voluntary sales. Yet nothing is being done to stem the haemorrhaging.
While the president says the economy faces the risk of economic meltdown, he threatens to veto a stimulus package that would create jobs – and he seems particularly adamant about a stimulus package that includes improved unemployment benefits. Traditionally, this is done when there is a threat of an economic downturn; if the downturn doesn’t materialise, it doesn’t cost anything. And while the administration and Wall Street promise this is just a temporary loan, not a bail-out, there was strong opposition to making the financial industry pay for any losses. Why would that be, if they are so sure that there won’t be losses?
Lad os redde Wall Street – men bedre sikring af de arbejdsløse, så vi ikke får så mange tvangsauktioner? The horror!
Link: Good day for democracy