Christina Romer, head of the White House’s economic advice council says she is “incredibly confident” the US economy will recover within 12 months.
Is there no end to these Happyfaces who insist we are not facing TEOTWAWKI? Don’t they understand that Disaster Chic is what’s going on and that optimism is so not welcome.
Happily though, Douglas Rushoff is embracing financial destruction and says let the economy die.
With any luck, the economy will never recover.
In a perfect world, the stock market would decline another 70 or 80 percent along with the shuttering of about that fraction of our nation’s banks. Yes, unemployment would rise as hundreds of thousands of formerly well-paid brokers and bankers lost their jobs; but at least they would no longer be extracting wealth at our expense. They would need to be fed, but that would be a lot cheaper than keeping them in the luxurious conditions they’re enjoying now. Even Bernie Madoff costs us less in jail than he does on Park Avenue.
Absolutely. as long as the bankers get spanked then trifles like mass unemployment, food riots, starvation, the collapse of governments, and probable open violence in the streets would certainly be worth it. Gosh no, we don’t need an economy and if the current one collapses then a new one will be along in a few decades. Shouldn’t be more than a few hundred million dead from violence and food shortages worldwide as we’re waiting for the New Utopia to emerge.
As Doug Henwood says about socialists who champion similar views, “that’s not leftism, that’s nihilism.”