Wednesday Head-desking

[frahulettaes]

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

by Simon Johnson

From the Atlantic from Global Guerilla.

Comments

[nutmeg3.livejournal.com]

A lot of that was about six feet over my head, but the part I did understand is scary as hell. ::feels the constant lump in my stomach grow bigger::

[frahulettaes.livejournal.com]

I think it's really important to notice that we are no longer in the America we thought we were. And reading foreign news is a very good way to do that. And it IS scary as hell.