I never did read Paul Krugman's collections of NYT columns put forth in The Great Unraveling: Losing Our Way in the New Century yet Common Dreams serves up his recent Don't Cry for Me, America that likely would suggest our economy is about to get truly unraveled. The money quote is:The fact is that as America’s financial system has grown ever more complex, it has also outgrown the framework of banking regulations that used to protect us - yet instead of an attempt to update that framework, all we got were paeans to the wonders of free markets.
"The wonders of free markets" indeed. I like the way Krugman briefly touches on what happened in financial meltdowns in various third world countries. Naomi Klein continues to shake me to the core with her Shock Doctrine and darned if I'm not starting to get a whole new perspective. These two smart cookies surely help me to gradually grasp constructs that I'd missed in the past. P/W
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