Originally Posted by
SVE-KRD
In fact, I saw an article (no link available), which suggested that before much longer, the current situation may in fact be worse than the "Great Depression", and that action taken before we can be sure we've hit rock bottom may in fact be counterproductive.
The moral depravities of the Rove-Bush-Cheney-DeLay era created much of the mess, and they must be reversed. At the least Herbert Hoover ran a squeaky-clean administrat6ion with no obvious corruption.
We don't know how much economic crime has been done and how much damage it has wrought. Should fraudulent operators still be operating big scams, one can expect that they will try to draw the effects of any bailout or stimulus to themselves. The bank bailout may have been premature; we might be better off by letting the giant banks fail and letting smaller ones take up the slack -- a classic free-enterprise solution.
I can't imagine conditions becoming as bad as those of the Great Depression except in the aftermath of a catastrophic war that ravages everything. We have institutions in place, at least three of them from the Great Depression (bank deposit insurance that prevents bank runs, Social Security that ensures that retirees can survive reasonably well in any times, and SEC regulation of financial statements to protect the integrity of financial reporting) and three from the Great Society (Medicare that stimulates the medical economy and descendants of Food Stamps and AFDC)...
The era of non-reform that was the last 3T is over. Neglect of needs deferred ends -- or else.
The greatest evil is not now done in those sordid "dens of crime" (or) even in concentration camps and labour camps. In those we see its final result. But it is conceived and ordered... in clean, carpeted, warmed and well-lighted offices, by (those) who do not need to raise their voices. Hence, naturally enough, my symbol for Hell is something like the bureaucracy of a police state or the office of a thoroughly nasty business concern."
― C.S. Lewis, The Screwtape Letters