Bad Money: Reckless Finance, Failed Politics, & the Global Crisis of American Capitalism

[Hannah Bell]

Moyers interview with Kevin Phillips

http://www.pbs.org/moyers/journal/09192008/watch2.html


>>BILL MOYERS: You wrote in that AMERICAN PROSPECT piece that some people, particularly in the reform community and among progressives, see this as a great opportunity for returning to the New Deal regulatory period instigated by Franklin Roosevelt in the pits of the Depression. You don't think that's happening.

KEVIN PHILLIPS: Well, I mean, there's several difficulties here. First of all, at this point, what you've got are the Democrats are the party right at this point that's getting most of the financial money. When Franklin D. Roosevelt won in 1932, we know he wasn't getting most of the financial money.

The second thing is I don't think we're more than partway through. The Democrats think it's going to be another 1933, they get in there, they can do all the New Deal stuff. My feeling is that they're coming in halfway and they're going to have to make hard decisions that are going to eat the Democratic coalition like a bologna sandwich. They're going to start civil wars-<<

[Skink]

1. If this stops us from starting more wars maybe it is not so bad.

Especially if by the second Obama admin we can turn a profit.

[Hannah Bell]

2. dream on.

[dailykoff]

3. Seriously.

A nice war is just what they need to hijack the Social Security trust fund once and for all.

[Hannah Bell]

4. every big crash leads to war. i don't understand why, but it seems to be a historical

constant.

[Fumesucker]

6. Big crashes are the definition of social instability..

Those who profit from wars take advantage of the social instability to foment hatred for an "enemy" or "enemies".

If you think the hatred whipped up for Sodamn Insane was something, just wait until similar tactics are used during a really severe recession or even a depression.

Misery loves company and making war on someone is the best way we have thought of yet to make someone miserable.

[tama]

5. Inflation

and cooking the books does the job. Plus it's allready all taken ("loaned") and nothing left.