Shock Doctrine? Fight Back

Monday 8 August 2011

by: Robert Borosage, Campaign for America's Future [3] | Op-Ed

Global economic turmoil is getting worse. Europe’s financial crisis now imperils Spain and Italy. The folly of pre-mature austerity savages economies in Great Britain, Europe and, increasingly, the United States. China and the emerging economies are slowing down. This economy seems stalled at best.

People are sensibly scared, worried about their jobs, their homes, their lost savings, their prospects.

Conservative and corporate elites are stoking the turmoil, and using fear to panic a public into accepting harsh measures that would be otherwise unacceptable. The stock market tanks after the debt ceiling debacle. Standard and Poors, the discredited and corrupted rating agency, rushes to downgrade US debt, with such haste it doesn’t even get its math right. China’s news service announces the US must roll back its bloated “welfare state” and its bloated military. The talk shows are inundated with pundits expounding the urgent need for the US to get its deficits under control to regain its credit status.