Wednesday, October 01, 2008
Counterpoints welcome
As someone who doesn't really know shit about what the fuck has been going on the last couple of weeks, I find this take persuasive-- and I'm eager for counterpoints. Who's got 'em? "Read some Marx 101," you out there?
I have certainly found suspicious the recent refrain coming from friends and populists on the tube alike that things are as simple as "fuck Wall Street," as though what happens there has nothing to do with us. Economics are about connectivity-- I know that much.
Now, is the bailout the right solution? Saw Kucinich on Maddow, and he was arguing that the solution would be to give the zillions to individuals to pay off their mortgages, restoring the value of the debt from the bottom up. This certainly sounds good, at least in theory. As it amounts to something close to socialized housing, however, I'm guessing there might be some difficulty in pushing that forward.
posted by James Hussein Dixon : 10/01/2008 11:53:00 AM
I have certainly found suspicious the recent refrain coming from friends and populists on the tube alike that things are as simple as "fuck Wall Street," as though what happens there has nothing to do with us. Economics are about connectivity-- I know that much.
Now, is the bailout the right solution? Saw Kucinich on Maddow, and he was arguing that the solution would be to give the zillions to individuals to pay off their mortgages, restoring the value of the debt from the bottom up. This certainly sounds good, at least in theory. As it amounts to something close to socialized housing, however, I'm guessing there might be some difficulty in pushing that forward.
posted by James Hussein Dixon : 10/01/2008 11:53:00 AM
