Saturday, March 17, 2012
Interview By Sam Seder Of Professor Richard Wolf
This is only about half an hour, but it is absolutely worth listening to. H/T to AMERICAblog's Gaius Publius for providing the link.
The above podcast is from an interview by Sam Seder of Prof. Richard Wolf which basically walks the average person through the financial crisis in Europe, the austerity programs such as what is going on in Greece, why they don't and won't work, and comparisons with the United States and its proposed austerity solutions to the economic crisis here.
Basically, the point being made is that the problem in Europe and America lie within the rich that have the money, and the manner in which they have "lent" their money to the not rich, and how when the not rich find themselves in the position of not being able to pay back the rich, concoct methods and ways to continue to "loan" or "bail out" countries (or individuals here in the United States, such as the loan modification programs, which by the way, don't work either). Austerity will not work because it takes the responsibility for the mess and for the resolution of the mess, off of the very people that created the mess, the banks, corporations and rich people, and try to put the resolving of the miss onto the backs of the very people who cannot afford to help solve the mess, because of the very fact they are the poor as a result of the mess!
Some interesting comments also were made about Roosevelt and how he handled the situation in the 1930's and 1940's, and a comparison was made of him to those today like the Warren Buffets of the "rich." A trickle down society will not solve the problem, it has to be a trickle up situation that will stimulate growth and a way to get back to the middle class that we pretend still exists but in reality, we only have the very uber rich, and then those that fall close to or below the poverty line. The so called pretend middle class has been fooling itself for way too long now that they belong with the rich, or can achieve what the rich have in some fashion, and many are also trying to cling to what little they have, not realizing that in comparison to the rich, what the "middle class" have that they are holding onto is a pipe dream, and not based in financial reality.
Until the rich start paying their fair share, and that includes banks, corporations, governments and people, this financial meltdown will continue, and the riots in Greece and elsewhere in Europe over austerity programs will follow to here in the United States when we make the least capable and most vulnerable class of people have to shoulder the debt and financial crisis while at the same time the rich do nothing but continue to get richer!
Seriously, listen to the whole interview - you will come away so much more informed about the financial problems we are facing, not just as a country, but as a world.