I read the news today - oh boy (Saturday edition)
The New York Times
Saturday, September 20, 2008 -- 10:40 AM ET
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Rescue Plan Seeks $700 Billion to Buy Bad Mortgages
The Bush administration is asking Congress to let the government buy $700 billion in troubled mortgages, according to a draft of the plan. The proposal would raise the statutory limit on the national debt to $11.3 trillion from $10.6 trillion.
What a relief -- our national debt is only going up a trillion dollars. (Didn't we start the 'Bush dynasty' with a national surplus and a balanced budget? I thought Republicans were against this kind of thing. Silly me.)
So just a question and a warning to all of those who will soon be making mortgage payments to the government instead of your 'troubled mortgage company;' do you really want W as a landlord?
Those of us who recall our Irish ancestors remember what happened during the potato famine. Next national disaster - and it could be anything at all - do you imagine W will think twice about tossing you out of your house and selling it to a Bushie with cash?
I find it hard to believe this won't simply be turned into another Shock Doctrine episode.
On the outside chance that you still aren't familiar with the Shock Doctrine (although you have been seeing it in action literally everywhere,) here is a short video explanation.
I'd recommend the book, but it will only give you nightmares. I read it... and stopped blogging for months. I had thought I understood the limits of human greed, but it turned out that I had completely underestimated these monsters.
Labels: disaster capitalism, Naomi Klein, Shock Doctrine
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