If the population allows it to proceed, it's just going to go on and on like this. Until the next crash - which is so much expected that credit agencies, which evaluate the status of firms, are now counting into their calculations the taxpayer bailout that they expect to come after the next crash... Everywhere you look, policies are designed this way, which should come as absolutely no surprise to anyone. That's what happens when you put power into the hands of a narrow sector of wealth, which is dedicated to increasing power for itself - just as you'd expect.
Noam ChomskyRelated topics
anyone crash credit expect increasing narrow next now power proceed sector should taxpayer way wealth hands bailoutRelated quotes
Do not do anything without signing yourself with the sign of the Cross! When you depart on a journey, when you begin your work, when you go to study, when you are alone, and when you are with other people, seal yourself with the Holy Cross on your forehead, your body, your chest, your heart, your lips, your eyes, your ears. All of you should be sealed with the sign of Christ's victory over hell. Then you will no longer be afraid of charms, evil spirits, or sorcery, because these are dissolved by the power of the Cross like wax before fire and like dust before the wind.
Cleopa Ilie
In fact, one of the main lesson to be learned from the collapses of the Maya, Anasazi, Easter Islanders, and those other past societies (as well as from the recent collapse of the Soviet Union) is that a society's steep decline may begin only a decade or two after the society reaches its peak numbers, wealth, and power. [...] The reason is simple: maximum population, wealth, resource consumption, and waste production mean maximum environmental impact, approaching the limit where impact outstrips resources. On reflection, it's no surprise that declines of societies tend to follow swiftly on their peaks.
Jared Diamond
I did say in print, in February, 1929 that there was no hope for economic recovery in Europe before American interest rates came down. That wouldn't be until the American boom collapsed - which was likely to happen within the next few months.And this did, in fact, happen in October 1929.
What made me expect this, of course, was one of my main theoretical beliefs - that an inflationary boom cannot be maintained indefinitely. I was sure that a very unstable situation was created by the artificial prolongation of the boom in 1927, when the Federal Reserve tried to stave off a collapse by credit expansion.
Friedrich Hayek
On May 7, a few weeks after the accident at Three-Mile Island, I was in Washington. I was there to refute some of that propaganda that Ralph Nader, Jane Fonda and their kind are spewing to the news media in their attempt to frighten people away from nuclear power. I am 71 years old, and I was working 20 hours a day. The strain was too much. The next day, I suffered a heart attack. You might say that I was the only one whose health was affected by that reactor near Harrisburg. No, that would be wrong. It was not the reactor. It was Jane Fonda. Reactors are not dangerous.
Edward Teller
Let's begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.
John Kenneth Galbraith