George Will: Let Them Eat Cake: Krugman: It's Like Katrina

George Will shows off his compassionate conservatism with these remarks on This Week with George Stephanopoulos while talking about the mortgage meltdown:

"The Republicans have now put themselves in a bind because people now say look if you have Wall Street socialism, whereby you save Bear Sterns, or at least save JP Morgan to buy Bear Sterns, and you are thereby socializing the losses and keeping the profits private, why not help everybody. Soon we'll hear from everyone in the country who has a student loan. This is,it's a burden, help me."

Riech and Krugman let him have it, especially Krugman with his response:

"When I listened to McCain give that speech I immediately thought of Herbert Hoover's Treasury Secretary. Liquidate farmers, liquidate workers, liquidate real estate, purge the rottenness from the system. You can't do this. This is a major financial crisis. You've got to do something and that does include helping homeowners who were sucked in. You know it would be a little different if Alan Greenspan hadn't said you should all take out adjustable rate mortgages. It would be a little different if the administration hadn't said housing prices are going up. If they hadn't said there is no bubble. So this is a situation where a lot of people have been hurt. It's a natural disaster in effect. It's like Katrina, and to say oh let people suffer is like saying let those people who made the mistake of staying in New Orleans suffer."

I hear ya' Paul.

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• Crisis

[BNCcooperative]

lol it pretty much is dealt with at the state level...

[UncleIrv]

@quidproquo2004

Actually, these questions aren't as difficult as you make them out.

"How much tax dollars should the government spend on health care?" If it's the FEDERAL government, the answer is ZERO. All social welfare spending should be controlled at the STATE level. That would vastly increase accountability and introduce innovation-producing competition and experimentation. Note that states cannot PRINT dollars.

"How much should we spend on the military?" Simple. NOT MORE THAN WE HAVE.

[quidproquo2004]

@UncleIrv It is a difficult question: "how much of our tax dollars should the government spend on the terminally ill?" As well, so is this question: "How much is too much to spend on the military?" These are difficult questions. It's obvious that the answer isn't this: "Every single penny and some." Once we know out the absurd extreme, we have to argue and debate until we come to some kind of compromise on these difficult issues.

Problems don't get fixed by ignoring them.

[TheRacistsMustDie]

@emp0rizzle Don't believe the first, and don't believe the second. Fascism is a very complex phenomenon which cannot be reduced to some simple formula like "government control of corporations" or the reverse.

[aviomaster]

USA is  FASCIST country. Watch for SS Police knock on your door.

[Foreshadow44]

Liquidate the investors of banks. If they are international seize their off-short assets and banks.

[ls1z28chris]

Except the flooding of New Orleans was not a natural disaster.

[emp0rizzle]

@justgivemethetruth and if corporations were so fucking powerful, why even bother with a fucking middle man? That's like a legit fortune teller that doesn't use her "gift" to buy a lotto ticket. Instead she's reading palms for $20. Cart before the horse and shit.

[emp0rizzle]

@justgivemethetruth So who the fuck should I believe? Some old illiterate dumb fuck on the internet or the leader and a key player in the creation of Fascism? The very definition and concept of a fascist state is one that is ruled by a single party authoritarian government.. The government simply operated in a corporate manner you dolt.

[justgivemethetruth]

@emp0rizzle

Why do you have to swear to make your point ... which is wrong by the way. Fascism is the government controlled by corporations.