"Clinton, Bush, Obama, Friedman, Krugman, Greenspan, Bernanke, Rubin, Summers, Paulson, Geithner, Lew are really all part of a common agenda, despite their seeming minor political differences. They all buy into neo-liberal economic theory. Two of the basic tenets they share is that Capitalism is inherently stable and provides equal opportunity to all those that work hard and play by the rules. They couldn't be more wrong. There is a clear pattern of boom and bust cycles to our economy. We are divided by class into Industrialists, Bankers, Workers and Politicians with contrary agendas.
Power always lies ultimately with the worker, by their sheer numbers. But the countervailing force is ignorance. We are immersed in a sea of lies. There are only three economists that publically predicted the 2006 meltdown Steve Keen, Nouriel Roubini, and Dean Baker.
What this means is that the people in power making policy either have no idea what they are doing, or they are deliberately rigging the system for the benefit of the smallest group in our society, the industrialists, bankers and politicians.
But most Conservatives never look at it that way because they believe micro economics is a tool to understand and guide macro economics. That is rules which we all learn as individuals, not going into debt excessively, saving for a rainy day, balancing our checkbook, are the kinds of things which build a strong economy. School teachers and librarians that lived frugally have died millionaires and most millionaires gained success following these rules. A significant sector of the population is convinced these rules produce sustainable prosperity. But, if everyone follows this the greater economy simply collapses. Our businesses, Government and economy thrives on debt. The factor which determines the impact of debt on economic growth and unemployment is the rate of change of its rate of change.
The most important factor in economic prosperity is always production. Corruption and Ponzi schemes are countervailing forces, whose success through twenty years of tech and real estate bubbles created powerful greed based advocates and apologists.
Only Government spending can fix the mess we're in. But so far all the money has gone to those that caused the problems and has been taken out of circulation."