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Bill Moyers and James K. Galbraith Talk About the Financial Crisis and John Kenneth Galbraith
I'm listening to the part 1 now. Some great quotes (paraphrased), and this is just in the first five minutes. ~ Ilene
James: The system that we live under is unstable. It's corruptible, it's endangered, and its destiny is our responsibility. It depends on us and cannot be entrusted to some ethereal, intangible force that we might call the market...
The two forces are politics and law. Politics, to give us a coherent government in the interest in the large republic, and law to provide a discipline on the behavior of people who wield power, particularly financial power. And that's of course if you're thinking of the crisis we've been going through, it is fundamentally a consequence of the breakdown of law. It is a crisis of our legal system as much as our economic system...
What you had here is a propagation of a massive fraud.... Confidence in the entire system breaks down.
Bill: [The inequality gap is getting greater.] What does that say to you?
James: A central lesson of my work is that inequality is associated with instability... Inequality and instability are symptoms of the same phenomenon...
The kinds of inequalities that we have developed in our society distort every choice that people make in their lives, particularly that young men and women make in their lives...
An extraordinary concentration of wealth is an extraordinary concentration of power. Favorite Adam Smith quote (the only short sentence): "Wealth is power, as Mr. Hobbes says."
Bill Moyers and James K. Galbraith Talk About the Financial Crisis and John Kenneth Galbraith
Courtesy of Jesse's Cafe Americain
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"... turn to fascism under Reagan ... " ???
No mention of Lyndon Freaking Johnson, Richard Nixon and his fascist playmate Kissinger, and Gerald Ford ???
Does your fascist History begin in 1980?
Do you think possibly there was any significance to the Assassination of JFK, regarding the form of government in the U.S.?
Is there any thinking person left out there that believes the "Loner Krazy Kid Oswald" fantasy that is constantly reinforced by the MSM?
At a certain point, Rome was transformed from a Republic to an Imperial State. Parallels?
Giving props to Reagan is fine, but let's not be giving passes to scum like LBJ, Nixon, and Ford.
Moyers is a hopeless political hack and ex-LBJ aide doing his good work for the money centre.
Galbraith is clueless about the Austrian school and market-based economics.
Assume ZH posts this for amusement.
Blah, blah, blah.
Government broke the current system so beg for more government to fix it.
Why were you on unemployment in the first place? I was always taught to create my own job. If I lost my job, I wouldn't eat, sleep, or do anything else until I got another one. Whiners all.
and oh - we conservatives don't only think about money - we like pussy too.....
Also - conservatives give a great deal of money to the poor as compared to liberal redistributionists like Moyer - he is such a punk.
Blah, blah, blah.
Government broke the current system so beg for more government to fix it.
Why were you on unemployment in the first place? I was always taught to create my own job. If I lost my job, I wouldn't eat, sleep, or do anything else until I got another one. Whiners all.
and oh - we conservatives don't only think about money - we like pussy too.....
Understood, but 'Nam is chump change compared to the trillions LBJ's "Great Society" has wasted.
edit.. Oops, Reagan wasn't a fascist.. he wasn't perfect and he spent a lot, but he did get ambushed with spending cut lies by O'Neill and the Dems.
At least we got a decent boom and the end of the USSR out of the deal.
They are all a part of the bigger financial Ponzi.