Economic Terrorism

Wall Street's war against Main Street never ends. Digby:

Possibly one of the most depressing, yet entirely predictable, political moments in a long string of depressing moments is this summer's obsession with Muslim and Mexican bashing (with a dollop of good old fashioned white on black racism) while the real miscreants in our system carry on unmolested and their apologists insist that we must appease them or risk even worse consequences.

Here's Krugman:

I’m saddened but not really surprised by Robert Rubin’s declaration that we don’t need more stimulus. It has seemed to me from early on in this crisis that Rubin and his disciples wanted to believe that this world crisis was something like the 1997-98 Asian crisis, and amenable to similar solutions.

SNIP

It's even worse than that actually, as Krugman has laid out elsewhere. Rubin and friends have persuaded themselves that the only important government function in the economy is the care and feeding of the Wall Street banksters.

SNIP

Wall Street, the banks and the corporate CEOs are still saying that unless the government does what it wants it to do --- austerity for average Americans so the wealthy can dine on their wasting carcasses --- they will blow whole damned thing up. I guess they figure that if the Mad Max scenario comes to pass they'll have enough money to hire one of those private armies Glenn Beck is angling for to keep the riff raff off their islands.

Read the whole thing.

It's gotten to the point that the fastest and easiest way to fix the economy and create millions of new jobs would be to ask Rubin and the other Wall Street geniuses to write down in detail what they think they government should do to help the economy, then ... do the exact opposite.