Tuesday, July 09, 2013

Neoliberalism is the Ruination of the United States

The seeds of the destruction of the country began as early as 1978, but it really took hold during the Reagan years with its love affair with crackpot Milton Friedman's harebrained economic schemes. Unfortunately, they went mainstream, and we are all paying the price for it. It's all being done under the guise of "free trade" or "globalism."

Whether or call it "unwinding" or "unraveling" or just plain economic treason, it has ruined the country:

Earlier this year, Al Gore made $100m (£64m) in a single month by selling Current TV to al-Jazeera for $70m and cashing in his shares of Apple stock for $30m. Never mind that al-Jazeera is owned by the government of Qatar, whose oil exports and views of women and minorities make a mockery of the ideas that Gore propounds in a book or film every other year. Never mind that his Apple stock came with his position on the company's board, a gift to a former presidential contender. Gore used to be a patrician politician whose career seemed inspired by the ideal of public service. Today – not unlike Tony Blair – he has traded on a life in politics to join the rarefied class of the global super-rich.

It is no wonder that more and more Americans believe the game is rigged. It is no wonder that they buy houses they cannot afford and then walk away from the mortgage when they can no longer pay. Once the social contract is shredded, once the deal is off, only suckers still play by the rules.

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