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View Full Version : Why the economy failed


Judy G. Russell
March 10th, 2009, 07:18 AM
... and why many in the GOP want Obama to fail.

Read Bob Herbert's take on this in today's NY Times (http://www.nytimes.com/2009/03/10/opinion/10herbert.html).

Among his points:

Working people were not just abandoned by big business and their ideological henchmen in government, they were exploited and humiliated. They were denied the productivity gains that should have rightfully accrued to them. They were treated ruthlessly whenever they tried to organize. They were never reasonably protected against the savage dislocations caused by revolutions in technology and global trade.

Working people were told that all of this was good for them, and whether out of ignorance or fear or prejudice or, as my grandfather might have said, damned foolishness, many bought into it. They signed onto tax policies that worked like a three-card monte game. And they were sold a snake oil concoction called “trickle down” that so addled their brains that they thought it was a wonderful idea to hand over their share of the nation’s wealth to those who were already fabulously rich.

Lindsey
March 10th, 2009, 06:50 PM
Bob Herbert is one of my three favorite NYT columnists, the other two being Paul Krugman and Frank Rich.

Judy G. Russell
March 10th, 2009, 10:23 PM
Bob Herbert is one of my three favorite NYT columnists, the other two being Paul Krugman and Frank Rich.I have my disagreements with all of them at various times, but this one sure rang my bell.

Lindsey
March 11th, 2009, 12:03 AM
I have my disagreements with all of them at various times, but this one sure rang my bell.

Indeed. One of the things that draws me to Bob Herbert's columns is that he is always sticking up for the little guy.

Judy G. Russell
March 11th, 2009, 09:15 AM
Indeed. One of the things that draws me to Bob Herbert's columns is that he is always sticking up for the little guy.Which is why I don't always agree with him -- sometimes the little guy is wrong.

Lindsey
March 12th, 2009, 12:31 AM
Which is why I don't always agree with him -- sometimes the little guy is wrong.

Undoubtedly, but the story over the last 20 years or so is mostly one of the little guy getting screwed.

Judy G. Russell
March 12th, 2009, 12:47 PM
Undoubtedly, but the story over the last 20 years or so is mostly one of the little guy getting screwed.No question about that!