Neoliberals Party Like It is 1931

while the rest of the world burns. ALL of the powers-that-be are still enthralled with Chicago School crackpot economics, or Friedmanism, to do one goddamned thing about it.

They won't, either, as the world economies collapse.

Rid the world of neoliberalism, the world economy has a chance. Don't rid it, and the world will rid of neoliberals.

It's that simple. It may very well take bloodshed before sanity reigns once again.

Krugman:

Why won’t the Fed act? My guess is that it’s intimidated by those Congressional Republicans, that it’s afraid to do anything that might be seen as providing political aid to President Obama, that is, anything that might help the economy. Maybe there’s some other explanation, but the fact is that the Fed, like the European Central Bank, like the U.S. Congress, like the government of Germany, has decided that avoiding economic disaster is somebody else’s responsibility.

None of this should be happening. As in 1931, Western nations have the resources they need to avoid catastrophe, and indeed to restore prosperity — and we have the added advantage of knowing much more than our great-grandparents did about how depressions happen and how to end them. But knowledge and resources do no good if those who possess them refuse to use them.

And that’s what seems to be happening. The fundamentals of the world economy aren’t, in themselves, all that scary; it’s the almost universal abdication of responsibility that fills me, and many other economists, with a growing sense of dread.

That's the way the neolibs want it. They want feudalism, which is the end game of all of this. They have all of the power and all of the money, while everybody else becomes slaves to them.

There WILL be bloodshed if and when that happens.