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Re: Oh my the scab's coming off.
Maj, You certainly covered A LOT of history here...The whole economic scene in 4 sentences!!!!
posted by
Cynthia
on July 29, 2008 at 4:19 AM
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Re: Thanks Samantha
posted by
Cynthia
on July 29, 2008 at 4:18 AM
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Oh my the scab's coming off.
(Redux of Reagan's trickle down plan his 1978 election oppopnent George H. Bush called "voodoo economics until offer of the veep position shut him up).
The economy is based on either selling inferior goods and services to poor or under the counter people, or making paper profit through arbitraging deals, interest, or selling imported goods made at deflated prices to everyone looking for a deal.
Oh, yes, I forgot. Also, selling mortgages and loans to the undercounter and lower third of the economy, then selling one another these bad loans like hot potates to earn commissions while waiting for them to blow up on the other guy.
(The originally-Federal Farm Credit Bureau, later Farm Credit Bank, privatized long ago, imploded in the Eighties, and as a consequence larger corporate farming has crowded out small family operations, providing cheaper food in greater quantities, but leaving us vulnerable to disease and impeded market operation ala Archer Daniels Midland a few years ago).
posted by
majroj
on July 28, 2008 at 6:24 AM
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such truth
posted by
Samantha39
on July 27, 2008 at 2:10 PM
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