Posts: 13,047
Registered: ‎02-06-2014

The stock market and neoliberal fascism

Reagan was the founding father but all the presidents since have had to play the game of making the stock market go up for the appearance of a robust economy.


Clinton didn't start it but he and Greenspan certainly rode the sweet spot- Our Discontents were already brewing and he only survived on account of a crazy stock mania.


Anyway, the notion was that gubmint could do everything to favor corporations and finance over the people at large but they'd get it back through the Ownership Society.


Problem was that 90% were too dumb to hit that 6 inch putt.


The wholly predictable response has been to blame it on furriners* and people of color (and wiccan women!) and try to hold on with an angry near majority.


Of course when the "rinse repeat" cycle once again kicks in, everybody but a few short sellers are going to suffer for it. And there will be calls to save us with even purer "capitalism."


*true enough, to a point. But more of a second order.