The whole house of cards seems to be crashing. The funny thing is, the capitalists, through their greed, did it to themselves. If they had left in place the safeguards and regulations established in New Deal welfare state capitalism, this depression – brought on by the housing bubble collapse – would not be happening. Instead we would have seen the continued slow grinding erosion of working class living standards we have had since the late 70’s. Which was working out pretty well for the capitalists – inequality had reached record levels in the 90’s and 2000’s. But no, they had to completely tear down all the stabilizers built into their own system. They thought, hey there’s no Soviet Union any more, communism and socialism are dead, so we can just go hogwild and take everything we want, let the average American citizen pay the price.
Well, now we are all screwed.
read the rest over at Class War Iowa blog, Iowa's first democratic socialist- trade unionist blog.
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