November 1, 2011

The Commanding Heights, Too Big to Fail and Deregulation

Don Brown, writing for Get the Flick:

"Supply-side economics has been discredited. History has proven PATCO had a point -- and American wages have declined in lock step with the decline of unions. Deregulated markets have given us stolen airline (et al.) pensions, the Savings and Loan Crisis, Enron and The Great Recession."

Don is a retired air traffic controller, a font of reason and a good writer, to boot. He puts his finger right on the core of America's political and economic problems in his weblog piece today.

In a nutshell, the problem began with and continues under the umbrella called Reaganism. Simple-minded, feel-good answers to intractable problems came our way with that American president's election, and our politics and economy have been the poorer for it ever since.

Give his piece a read. It's a quick summation of what happens when a culturally, economically and socially rich nation "trusts" corporations, banks and investment companies to do what's in everyone's best interest.