Inflating your way to survival

In the crash of 2008, and the subsequent measures to stave off a very real global crash of liquidity, certain measures were taken. These had the effect of saving the large banks and financial institutions, and the owning classes, worldwide. In the ensuing ten years, the elites took care of themselves very well. Anyone who had assets, gained; those who offered labour have had to live on no wage increases. So says Steve Bannon. Those with capital gained, while over half the US population cannot put $US400 to cover emergencies.

Socialism – the government covers your downside risk – for the rich, capitalism for the poor.

Start watching around 14:00 minutes. Prior to that is interesting but they are making irrelevant points. This is the best, most cogent, analysis of why Trump came to power. My left wing friends (I have a couple) would probably agree. The essential argument ends by 20:55 into the interview.

Bannon explicitly excludes Obama from any blame for this situation.

In my opinion, while the populist/nationalist movement appears radical, it is actually conservative in intention, trying to save the capitalist system from its current situation where, to repeat, there is socialism for the rich, capitalism for the poor.

 

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