Not Moore’s movie Capitalism: A Love Story, Capitalism itself makes you feel like a battered spouse.
This movies documents the rampant ‘Stockholm Syndrome’ that has ensued since just after WWII. The director moves from as much street theater to fairly straight forward facts. I attended (Friday 2:30 pm) with a crowd (~50) of roughly retirement age people. They talked back to the screen and it felt, at times, like a Pentecostal meeting. I was very surprised, pleasantly so.
It may be preaching to the choir, but some may not be aware that our real obstacles lie, not from political parties, but corporate interests roiling the waters (cf. Fox, Limbaugh, Beck, et. al.) to obscure the real enemy — multi-national corporations granted the rights of ‘persons’ in a questionable recording of a SCOTUS ruling that drug the 14th amendment in places it did not belong.
So really, this is not about being part of “a nation of shopkeepers”, rather it is being chattel in a corporate system that takes out life insurance on its line employees hoping they will die young. Google ‘Dead Peasants‘ for more info about this delightful practice.
And really, the choir needs to be preached to, otherwise they might stop singing.
Go and see it, perhaps you too will feel like singing
Krugman blogged this back on January 11.
A scary analogy
I think the stimulus package is like driving up an icy hill. If you don’t have enough momentum from the start and fail to provide enough “stimulus” to get the car over the crest of the hill, you can slide all the way back to the bottom, crashing into things along the way and ending up worse off than when you started. Maybe you can give it more gas along the way if needed without spinning out, and perhaps you can hold your position if you don’t make it to the top, and then start again from the higher level, but that’s not a chance I want to take when I’m sitting at the bottom wondering if I can make it to the top without wrecking my car — the possibility of falling all the way back to the bottom and ending up worse off would make me want to start with sufficient momentum and then some. Essentially, I am arguing that there are crucial economic and psychological “tipping points” that must be reached in order for the economic recovery package to be effective (or at least, there’s enough of a chance that they exist that they cannot be ignored when formulating robust policy).
I’d add that there may also be a political tipping point: if the stimulus package is too weak, conservatives will pile on after it fails to deliver, claiming that the whole concept has been discredited.
Scary doesn’t begin to describe that.
The Middle Class Must Not Be Forced to Bail Out Wall Street Greed
by Senator Bernie Sanders
For years, as a member of the House Banking Committee and now as a member of the Senate Budget Committee, I have heard the Bush administration tell us how “robust” our economy was and how strong the “fundamentals” were. That was until a few days ago. Now, we are being told that if Congress does not act immediately and approve the $700 billion Wall Street bailout proposal these “free marketers” have just written up, there will be an unprecedented economic meltdown in the United States and an unraveling of the global economy. [more]