Crash of 2008 When will we be leaving Iraq? Free speech and elections Keeping hope alive
Yes, the neoconservatives are reading the writing on the wall. Polls show voters nationally and in battleground states rejecting the policies of the Bush administration and congressional Republicans, and growing awareness that the McCain-Palin ticket is a continuation of the same.
It was only yesterday that “free market” ideologues were dancing on Karl Marx’s grave with scornful shouts that “greed is good” and “TINA” — “there is no alternative” to capitalism. These fat men guffawed contemptuously at Marx’s warning that capitalism is built on wage exploitation, that workers never earn enough to buy back what they produce, creating “overproduction” and periodic crises — some deep and long — that can only be solved by socialism.
Last week the major economies of the world, including the United States, European Union, United Kingdom, China, Russia and Brazil carried out an unprecedented and coordinated reduction of interest rates. The effort itself was not immediately successful.
The turmoil in financial markets and the bailout to the tune of $700 billion has turned the public eye and wrath on Wall Street and Washington. While millions are aware of the triggering causes, ranging from predatory lending to deregulation to insatiable greed, what isn’t so obvious is the longer-term process that brought our financial system and economy to the edge of the abyss.