Friday, October 15, 2010

War and Wall Street

Dave Pollard has a great blog - How to Save the World - Dave writes this on his "Links and Tweets for the Month: October 15, 2010"

"“This is Very, Very Bad”: Paul Krugman in the NYT sums up the foreclosure mess as the simple continuation of a massive and ongoing government-backed fraud perpetrated by US and global financial institutions against homeowners and taxpayers. Why is it allowed to continue? Because as the chart above shows (from oftwominds.com), financial services make up 1/3 of US profits (and GDP). Only the war industry is comparable in size. Without banks and wars, there simply is no US GDP. Without these two industries, and rising housing values and consumer spending, there is no US economy."

Is there any wonder why we went to Iraq or Afghanistan? or why we've been neutered and trained not to pay attention when Wall Street finance and banker barons are making billions off of our poverty? It's obviously because without wars and finance we are Tanzania...

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