“The crisis is rooted in Republicans’ denial of reality” (TIMES, 7/27/11)


     “How can so many Republican lawmakers justify pushing their country toward catastrophic default just to score ideological points?”

     Answer: They are essentially in the employ of the owners of the means of production, the banks and the insurance companies who are currently concerned about the security of the capitalist system.  These plutocrats who have outlasted the revolutionary challenges of the 20th century  or have seen them temper the commitment to socialism are being confronted  by the continued failings of capitalism.

     The depression that showed its head in 2007 has stubbornly persisted but the ready-to-hand Keynesian remedy that brought relief during the Great Depression (1929-1941) is no longer trusted.  Instead, these plutocrats want sole control over the economy; i.e., they will determine the wage rates and working conditions that should prevail in the United States.  No more trade unions; no more “neutral” mediators fine tuning the economy.  The government will be run from Wall Street, just as it was during the “roaring twenties” of the last century.

     Then, they will shout: “Long live the bourgeois dictatorship!” 

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