A year ago William Greider spelled out very clearly the dilemma faced by the Democrats, namely: can they return to their historic values against the corruption of money that has saturated them in the last three decades?
We saw in 2009 that so far they are unable. Instead of watching the Democrats fail all through that year, I wish I’d paid more attention to Greider and spent more energy working towards the new economy. Lesson learned.
I like Greider. As a fervent Fed-watcher I read his 1987 book, Secrets of the Temple, back in that time, and learned for the rest of my life what to expect from recessions.
What to expect from recessions you ask? Well, the productive, wealth-creating economy, and the workers and business leaders dependent on that economy, will endure the wait of attrition – with help from nobody – until the economy begins to gather force again from the new productivity created largely by productive workers and leaders, usually in new margins and areas of effort.
Then the thieves will come back into the daylight and begin to rip off the economy again, taking as much in unfair economic rents, and by actual fraud and theft, as government imperfection and corruption will allow, and distorting the economy by degrees towards its next collapse.
These processes go by different names as the fashions change.
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