The War for the Soul of the Democratic Party

[1StrongBlackMan]

41. My bad ...

I read Hartman's commentary on the FT's reportage on Bank of International Settlements calling for policymakers to halt the steady rise of debt burdens around the world" and stopped reading ... thinking it was just another "hyper-Inflation is coming" OP piece(based on this: "The article notes that capital markets are "extraordinarily buoyant," according to the Bank of International Settlements, and argues that central banks around the world "should not fall into the trap of raising rates 'too slowly and too late.'" - See more at: http://www.thomhartmann.com/blog/2014/07/crash-2016-gets-closer-every-day#sthash.u3avXJ0f.dpuf

And we know what Krugmann has been saying about that.

I should have skipped all of Hartman's commentary on the FT's reportage on Bank of International Settlements and cut to his chase:

Until the corporate elite and our billionaire class are under control, and our working class once again can enter the middle class, we stand at the precipice of a great crash. Without vigorous governmental action to radically reduce student and working family debt, increase wages, and suppress speculation, that crash comes closer to us every day. - See more at: http://www.thomhartmann.com/blog/2014/07/crash-2016-gets-closer-every-day#sthash.u3avXJ0f.dpuf

Which I agree with ... and will note, so does Krugmann.

But I can't help but observe ... the predicted crash has nothing to do with the components in the spending bill.

I'd, further note, that Hartmann's conclusion above is internally inconsistent ... he calls for measures to get/return "our working class once again can enter the middle class", yet cites as a solution only one (of 4) measure(s), i.e., increased wages, that would affect the problem.