The Booming Economy

Fears of a global depression and deflation are throwing the markets into panic mode.

Blame can be placed squarely on the zombie-like devotion of the Friedmanites, and now it is clear to all why laissez faire does not work, never has, never will.

While these financial giants struggle to stay afloat by offloading their toxic liabilities, it is increasingly clear that world capitalism is experiencing a fundamental breakdown on the scale of the Great Depression of the 1930s, threatening to devastate the livelihoods and social conditions of hundreds of millions of working people on every continent.

Yep.

The Booming Economy

Interest rates have been cut around the world.
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It doesn't take a Nobel Prize economist to figure out Friedmanism, with its adherence to a religion of laissez faire and glorification of greed, is at the root of our economic mess.

We have known this for decades; the Great Depression proved beyond ALL doubt "free market economics" won't work for the same reason communistic running of economies didn't work: both ignore the realities of human nature. There has to be a referee which looks out for the best interests of society as a whole. The mixed economy is the best, with government being the referee.

(H/T Anglachel, Susie Madrak)