The 1 Percent’s Problem - Joseph E. Stiglitz - VanityFair

[Waiting For Everyman]

16. The 1% are eating the goose that lays the golden eggs

because that's just how damn dumb they are. Expertise, my ass. They are frauds, perpetrating frauds. And the sooner we realize that and take steps like Francois Hollande is proposing to do in France, the better. It's common sense cause-and-effect, not rocket science.

Economics only exists to numberfy and mystify the subject so that more webs can be spun. GHW Bush said it... "smoke and mirrors", "voo doo economics". Every once in a while, one of them tells the truth. I go back to that saying, "when someone tells you who they are, believe them".

This can be turned around, anytime we (the 99%) want to deal with reality and not ideology. To paraphrase FDR, the only thing we have to fear, is bullshit.

Excellent article. Good to see some prominent people are still working on making the case for the obvious. It'll take a lot more for the message to get through to most of the 99%. To a large degree, since Reagan, Americans have been living in a la-la-land sick fantasy. To a large degree, I fault the "intellectuals" on our side for not shooting down this nonsense idealogy adequately. The brains are supposedly on our side predominantly, so I can only think that they were largely bought off. Either that, or they are vastly overrated. We should not have lost the "argument competition" this badly for this long.

The "experts" on our side have a lot of work to do, to clean this thought-mess up. They need to keep at it until "trickle down" is dead and gone forever, never to be revived.

I'm waiting to see when the experts will get brave enough to come out and say that CDS's are frauds which should be declared void and made illegal. That day will inevitably come sometime and it should be now. It should've been 4+ years ago.