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  1. Yeah, yeah, we’ve all watched the route to Boston harbor get co-opted by the right wing whackos, most notably when Palin started rearing her hoary head at their rallies, but that’s not where it all started. It started with the sense of being ROBBED! That’s the foundation of the Tea Party and the Republicans and far right just seized the opportunities and are now cashing in on it. The highwaymen took over, but a lot of us with the original sympathies saw that coming long long ago, and are not surprised at all at where it’s all gone to in some of its arenas. But guess what? Despite the co-opting, it’s still the same situation. As a good Democrat once said, “It’s the economy, stupid!” Trying to solve a problem caused by massive debt with massive debt is the image of Crazytown in my book, far outstripping anything I see in that video. Thank God there was at least a Tea Party. There should have been riots in the streets. At least, the French and the Greeks get that right.

    • Except for one little thing, PRS. Massive debt also caused the 1929 Crash, and after 4 years of trying to balance the budget and cut taxes which only worsened conditions, we turned to massive government intervention and debt and brought the country back from the brink of justified revolution. Even the FDR-haters who claim that only WW2 saved America forget that FDR financed WW2 with staggering debt and taxes. The War was the most successful government jobs program in history.

      That’s because private and state debt have different effects. When private debt defaults, it makes everybody too scared to spend or invest and the deflation never ends. If a state prints too much currency, it leads to inflation, but the effects of inflation are preferable to 30% unemployment. Proof: the German hyperinflation of 1923 versus the German branch of the Great Depression of 1933. Democracy survived the former, not the latter. And American democracy came much closer to the brink under Hoover than our schools dare teach.

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