Wallstreet Not Impressed By President's Speech

Motion

For me the problem is that many in the financial sectors (Wall Street, the City of London) are still thinking in neo-liberal terms, they want a bail-out Keynesianism now but then want to return to the neo-liberal system again.

As I’ve said the problem is that you cannot have a corrupted form of bailout Keynes during the down turns and neo-liberalism in the up.

It’s untenable.

It means that the vast majority of people get to pay for all the losses while receiving hardly any of the gains, while wealth never losses out.

Neo-liberalistic free market economic models have no answer for crashes, except for things to go to the wall and collapse completely; there are some free marketeer’s on the forum that say that should happen. If you are really a neo-liberal then that is what you should want.

But that is not what the financial sector wanted or asked for and to stop catastrophe governments have had to step in around the world.

So basically even the neo-liberalists were not real neo-liberalists they were just using neo-liberal theories as a kind of rohypnol to bamboozle the people and the politicians so they could srew them and rape the system for all the profit they could get.

 

Greenspan's fears of irrational exhuberance have certainly evaporated, perhaps this will lead to improvements.

 

For most Americans the job market means much more than the stock market.

During most of the Bush Administration the stock market grew because the job market did not. As a result, employers did not need to compete for employers. There was a lot of economic growth during the Bush Administration, but it went to profits rather than pay checks.

 

I am under the impression that the British Conservative Party has more integrity, but in the United States the Republican Party defends whatever helps the rich. The Republicans talk about "the free market," but they also defend business subsidies and farm subsidies for agribusiness. They think ordinary folks should face the rigors of the market, but that the rich deserve better.