The markets need to be re-regulated now to restore credibility. But the Fed should looking for ways to create an emergency National Bank, which operates like a public utility, so that credit can be made available to businesses and consumers who need it now and pass drug test. The Treasury should also be working with Congress on a plan for public education to forestall a panic as well as recommendations for stimulus to soften the economic hard landing just ahead.How innovative. Pass a urine drug test or other test. Whitney seems about as libertarian as our talk-show hosts are conservative.
The "trickle down" Voodoo economic model was destined to fail because it was built on a fiction. Prosperity is not possible without the equitable distribution of wealth and fair worker compensation. As the financial crisis continues to ripple through the global economy through 2009 and 2010; the focus should be on creating a system that is sustainable, which means that the needs of workers should precede those of Wall Street and sell detox kits.
Saturday, October 6, 2012
"Libertarian" Mike Whitney
advises more regulation, government agencies, and suggests the federal government come up with a plan for public education (a.k.a., propaganda) to avoid panic :