September 24, 2008 -
Naomi Klein: Now Is the Time to Resist Wall Streets Shock Doctrine
While the collapse of this countrys financial system continues to send shock waves around the world, we speak to the bestselling author of The Shock Doctrine. Naomi Klein says the public should be wary of the Bush administration trying to use the crisis to push through more of the radical pro-corporate policies that helped cause it in the first place.
Naomi Klein, award-winning journalist, syndicated columnist and author of the bestseller, The Shock Doctrine: The Rise of Disaster Capitalism.
Well, the thesis of my book, what I mean by the shock doctrine, is that it is in times of crisis, it is in times when people are panicked, when weve seen again and again the right push through radical pro-corporate policies, what they call free market reforms, precisely because it is in a crisis where the space for debate rapidly closes, and you can invoke this state of emergency to say we have no choice.
And I think were seeing a very dramatic example of this tactic right now with this really extortionist kind of tactics playing out in Washington. You know, Sign this blank check, or were all going down, or Main Street is going down, or taxpayers—you know, the sky will fall in on them.
Im also arguing that this is only stage one of the shock doctrine. Theyre getting this—theyre lobbying for this huge bailout, obviously, but this bailout is a kind of a time bomb, because its all these bad debts, and they are going to explode on the next administration. I mean, we know that the Bush administration has already left the next administration with huge debt and deficit problems. Theyve just exploded those, expanded them. And what that means is that whoever the next president is is going to be inheriting this economic crisis that is being exacerbated by this bailout.
So, in the case of McCain, I think—if hes the president, then I think we know what hell do, because we know he wants to privatize Social Security, which is something that Wall Streets been wanting for a long time, another bubble. We know he has said in the next—in the first 100 days of his administration hell look at every program and either reform it or shut it down. This is really a recipe for economic shock therapy. So, while you have all of these trivial issues being discussed in the election season, I think what we could—what were really—you know, under the surface, theyre actually being quite clear. Theyre going to take—if they take power, it will be in the midst of an economic emergency. Theyll invoke that emergency to push through very, very radical changes. So, you know, what Ive been saying is, this is not four more years of Bush; its much, much worse in the case of another Republican administration.
But theres huge problems for Democrats, as well, if they win this election, because, you know, we need to only think back to the situation in which Clinton took power, where he ran an election on an economic populist platform, promising to renegotiate NAFTA. Then there was an economic crisis. Clinton came under intense lobbying by people like Robert Rubin, whos also advising Obama right now, and by the time he took office, he had embraced economic austerity.
So, people need to understand these tactics, need to put pressure on the candidates, the parties, and reject this tactic. And Ive actually been really heartened, Amy, that people are onto these shock tactics and arent falling for it. And, you know, to the extent that were seeing a little bit of spine from the Democrats, it is only, as Chris Dodd said, because they are hearing it from their constituents. So people need to keep up this pressure right now.
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USA - Profit Be(for)e People ?!(3)by gfde082,214 views
please....its been about profit for years now, the businesses have bought Congress.
manny4life 3 years ago
I don't see any more bubbles on the horizon. Flat tires maybe.
TYX91101 3 years ago
Bailout will just paint shit with gold leaf.
Ok, so banks will start lending again.. to who? 500 will be a good credit score? series of more serious recessions ahead after this bill!! Free house to every family!
mockingarab 3 years ago
Easy.. just rack up debt and don't pay the anything back to these greedy banks who will benefit from the bailout until they surrender and let home prices fall naturally as it was supposed to be.
mockingarab 3 years ago
Yes, we are entering the period of "corporate fascism". welcome to nazi United States.
batgirl791 3 years ago
Doing this has put many Americans at risk 2 be debt slaves their entire lives. Not 2 mention that the bill calls for immunity to all the criminals involved and even gives these criminals MILLIONS of dollars each while the tax payer is stuck with the debt! Do U think that if we give 700 billion 2 the same people that got us in this mess they will some how be able 2 fix the problem now? This bill will only be a quick fix to a major problem!
shortyfb23 3 years ago
Both of our Presidential candidates and most of Congress have put their total trust in Ben and Hank.How can you believe Paulson and Bernanke. Remember, these are the men who repeatedly said on television "the banking system is sound," and "problems in the subprime market seems likely to be contained." Liars.
qzg1265 3 years ago
how greedy are billionaires, paulson the billionaire got on his billionaire knees to pelosi to pass his plan
SoCalSocialism 3 years ago